1028 Ford St · Ogdensburg, NY 13669

$183,900

3 bd · 1.5 ba · 2,672 sqft · MultiFamily · 84 Days on market

Built 1970 Fair condition 8,276 sqft lot $69/sqft · 31% above area Est $140k · 31% over ↓ 9% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.5/10.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Unique opportunity to own a home with built-in income potential in the heart of Ogdensburg. This mixed-use property features a spacious three-bedroom apartment on the second floor, currently rented, along with a well-established beauty salon on the main level. The salon offers seven styling stations, with several currently rented, plus an additional private room for expanded services. A great option for supplemental income or for a buyer looking to run a business from home. Property includes 12 off-street parking spaces behind the building for added convenience. All salon equipment and appliances will convey, making this a turnkey opportunity. With strong visibility and multiple income streams, this property offers flexibility for both homeowners and investors.

Key facts

• Strong visibility
• Mixed-use property
• Turnkey opportunity

Tags

• MIXED-USE PROPERTY
• OFF-STREET PARKING SPACES
• TURNKEY OPPORTUNITY
• STRONG VISIBILITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath multifamily listed at $184k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $4k ($43k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $184k).
• Recommended offer: $173k (6.0% below list) — sets the bar for market timing.
• Cap rate 29.9% vs local median 5.3% in Ogdensburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#624 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D-, crime F.
• Ogdensburg City School District (town): math 34% / reading 46% proficiency, ranked #531 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 133 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.1% local appreciation)).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $51k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($173k) is reasonable based on typical stale-listing flexibility.

Recommended offer $172,866 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.36% ✓
• Cap rate: 29.87%
• Cash-on-cash: 84.20%
• DSCR: 4.75
• GRM: 2.5

CMA / ARV

• ARV (median comp): $140,479
• List price: $183,900
• Delta: 30.91%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

1.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 87.3%
• Equity multiple: 5.55×
• Total profit: $234,244
• Equity at exit: $63,424

10-year hold

• IRR: 88.0%
• Equity multiple: 11.41×
• Total profit: $535,936
• Equity at exit: $84,786

Cash invested: $51,492 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 13669

• Home prices YoY: 0.4%
• Active inventory: 133
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $6,182 medium
• Mortgage (P&I): −$964
• Tax est. 1.5%: −$230 /mo · $2,758/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,298
• Net cashflow: $3,613

Break-even live

Break-even rent $1,609

Max offer price $183,900

Occupancy floor 37%

Sensitivity live

Price	-10% $3,740	-5% $3,676	+0% $3,613	+5% $3,549	+10% $3,486
Rent	-10% $3,125	-5% $3,369	+0% $3,613	+5% $3,857	+10% $4,101
Rate	-1.0pp $3,706	-0.5pp $3,660	base $3,613	+0.5pp $3,565	+1.0pp $3,517

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$856
▸ 7× units	0	0	$5,327
Total (8 units)			$6,182

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $45,975
• Closing costs: $5,517
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-09
   days on market $183,900 Active 84 DOM
2. 2026-06-08
   days on market $183,900 Active 83 DOM
3. 2026-06-07
   days on market $183,900 Active 82 DOM
4. 2026-06-07
   days on market $183,900 Active 81 DOM
5. 2026-06-04
   days on market $183,900 Active 78 DOM
6. 2026-06-02
   days on market $183,900 Active 77 DOM
7. 2026-06-01
   days on market $183,900 Active 76 DOM
8. 2026-05-31
   days on market $183,900 Active 75 DOM
9. 2026-04-17
   price $225,000 771-char remark

   Show marketing remark (771 chars)

   Unique opportunity to own a home with built-in income potential in the heart of Ogdensburg. This mixed-use property features a spacious three-bedroom apartment on the second floor, currently rented, along with a well-established beauty salon on the main level. The salon offers seven styling stations, with several currently rented, plus an additional private room for expanded services. A great option for supplemental income or for a buyer looking to run a business from home. Property includes 12 off-street parking spaces behind the building for added convenience. All salon equipment and appliances will convey, making this a turnkey opportunity. With strong visibility and multiple income streams, this property offers flexibility for both homeowners and investors.

10. 2026-03-17
    listed $247,500 Active 771-char remark

    Show marketing remark (771 chars)

    Unique opportunity to own a home with built-in income potential in the heart of Ogdensburg. This mixed-use property features a spacious three-bedroom apartment on the second floor, currently rented, along with a well-established beauty salon on the main level. The salon offers seven styling stations, with several currently rented, plus an additional private room for expanded services. A great option for supplemental income or for a buyer looking to run a business from home. Property includes 12 off-street parking spaces behind the building for added convenience. All salon equipment and appliances will convey, making this a turnkey opportunity. With strong visibility and multiple income streams, this property offers flexibility for both homeowners and investors.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $74,184
• − Mortgage interest: −$10,301
• − Property taxes: −$2,758
• − Insurance: −$920
• − Repairs & maintenance: −$5,935
• − Management: −$5,935
• − Depreciation: −$5,350
• Taxable income: $42,985
• Est. tax owed @ 24.0%: −$10,317
• After-tax cash flow: $33,038/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant renovations, including kitchen and bathroom updates, flooring replacement, and landscaping improvements. The home has potential for increased value with these upgrades, making it a good investment opportunity.

Repairs flagged

• Major Kitchen countertops — The countertops are visibly worn and need replacement.
• Major Bathroom fixtures — The bathroom fixtures are old and need replacement.
• Major Flooring — The flooring is worn and needs replacement.
• Major Interior paint — The interior paint is worn and needs repainting.
• Major Landscaping — The landscaping is overgrown and needs trimming and maintenance.

Value-add opportunities

• Resale Kitchen renovation — A new kitchen will significantly enhance the home's appeal and value for potential buyers.
• Resale Bathroom updates — Modern bathrooms will attract more buyers and increase the home's value.
• Both Flooring replacement — New flooring will improve the home's appearance and increase both resale and rental value.
• Both Painting — Fresh paint will make the home more appealing and increase its value.
• Both Landscaping — A well-maintained landscape will enhance curb appeal and increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · The countertops are visibly worn and need replacement.	Major	$15,000–50,000
Bathroom fixtures · The bathroom fixtures are old and need replacement.	Major	$15,000–50,000
Flooring · The flooring is worn and needs replacement.	Major	$15,000–50,000
Interior paint · The interior paint is worn and needs repainting.	Major	$15,000–50,000
Landscaping · The landscaping is overgrown and needs trimming and maintenance.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale Kitchen renovation — A new kitchen will significantly enhance the home's appeal and value for potential buyers. ↑
• Resale Bathroom updates — Modern bathrooms will attract more buyers and increase the home's value. ↑
• Both Flooring replacement — New flooring will improve the home's appearance and increase both resale and rental value. ↑
• Both Painting — Fresh paint will make the home more appealing and increase its value. ↑
• Both Landscaping — A well-maintained landscape will enhance curb appeal and increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ogdensburg City School District
• NCES district ID: 3621660
• Math proficiency: 34% ▼ -15.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $38,253
• Composite: 33.33/100
• National rank: #5497
• State rank: #531 of 590 in NY

Livability — Ogdensburg

• Score: 66/100
• State rank: #624
• US rank: #11365

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ogdensburg, NY
• Population (ZIP): 15,615

Population outlook (St. Lawrence County) Hauer SSP2

• Today (2025): 110,027 people
• By 2030: 107,455 · -2.3%
• By 2040: 100,492 · -8.7%
• By 2050: 94,254 · -14.3%
• By 2075: 80,175 · -27.1%
• By 2100: 63,140 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Black 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 10% Polish 6% Slovak 3%
• Foreign-born: 3% · Canada, China, Jamaica
• Languages at home: 89% English-only · German/W. Germanic 9% Spanish 1%

Political lean MEDSL · St. Lawrence

• 2024 margin: R (+18.0) · D 41.0% · R 59.0%
• 2008→2024 swing: -34.3pp toward R · 2008: 16.3pp · 2024: -18.0pp
• All cycles: 2024: R+18.0 2020: R+11.7 2016: R+10.8 2012: D+16.6 2008: D+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.07%
• Current HPI: 264.0261
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

-9.1% since first listed

2 events — show timeline

• 2026-04-17 Price Changed $225,000 SLCMLS
• 2026-03-17 Listed $247,500 SLCMLS