Real Estate Investing in Frankfort, New York (13340)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 13340 (Frankfort, NY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.0% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Frankfort, NY (13340)?
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Market Analysis: 13340 Frankfort
ZIP 13340 in Frankfort, NY carries a significant set of headwinds. Home values near $225K and rents of $990/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 13340 comes in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
In the broader NY picture, 13340 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
A healthy renter share of 17% in 13340 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 13340 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Frankfort:
Property Strategy for 13340
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $165,765 | $1,100 | 4.8% | +9.4% | $82,883 |
| 3BR | $220,870 | $1,320 | 4.3% | +9.6% | $73,623 |
| 4BR | $247,864 | $1,520 | 4.4% | +10.0% | $61,966 |
| 5BR | $250,851 | — | — | +9.9% | $50,170 |
Market Trends
Home Value History (with trend line)
📊 How Does 13340 Compare?
| Metric | 13340 | Frankfort | Utica-Rome, NY | New York |
|---|---|---|---|---|
| Home Value | $224,596 | $224,596 | N/A | $505,608 |
| 5-Year CAGR | 8.1% | 8.1% | N/A | 6.6% |
| Avg Rent | $990 | $990 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 13340 (Frankfort, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $224,596 |
| Monthly Rent | $990 |
| Price-to-Rent | 18.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 11.5% |
📈 Home Appreciation
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | +7.2% ▲ |
| 5-Year CAGR | +8.1% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 13340
Population: 7,322
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 13340
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,859 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Do rentals sit vacant long in Frankfort, NY?
Occupancy in Frankfort, NY runs steady with elevated vacancy. Well-priced units at $990/mo lease on reasonable timelines.
What type of investing works in Frankfort, NY?
In Frankfort, NY the notable play is typically careful cash-flow rentals with hands-on management. The combination of $225K prices and $990/mo rents suits that approach.
How much does a house cost in Frankfort, NY?
Median home price in Frankfort, NY is near $225K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
What does house hacking look like in Frankfort, NY?
House hacking in Frankfort, NY is reasonable to execute. Prices around $225K and rents of $990/mo solid owner-occupant economics.
Is rental property easy to operate in Frankfort, NY?
NY ranks as a tenant-protective state for landlord-tenant law. Frankfort generally follows the statewide framework, so landlords face reasonable operating rules.
You know 13340 now. You don’t know where it ranks.
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How 13340 ranks in Utica-Rome, NY
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