335 Mcclelland St · Watertown, NY 13601

$159,900

3 bd · 1.0 ba · 1,012 sqft · SingleFamily public records · 20 Days on market

Built 1920 5,250 sqft lot $158/sqft · 17% below area Est $192k · 17% under

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Why this score? — see what drove the C 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 +18.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• Rent growth +5.0/5.0
• 1% rule +4.2/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

Key facts

• Remodeled kitchen
• New appliances
• New deck

Tags

• 3 SEASONS FRONT PORCH
• REMODELED KITCHEN
• BUTCHER BLOCK COUNTER TOPS
• NEW APPLIANCES
• SPACIOUS FENCED BACKYARD
• NEW DECK

Property features AI

Exterior

• Parking: Detached garage with storage; 1 garage space
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 2 stories; Existing construction
• Construction: Shingle roof; Composite siding; Shake siding; Block foundation; Attic/crawl hatchway(s) insulated; Blown-in insulation
• Exterior features: Blacktop driveway; Enclosed porch; Screened porch; Fully fenced yard; Porch

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Flooring: Hardwood; Luxury vinyl; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating; Hot water heating
• Interior features: Solid surface counters
• Laundry & utility: Washer; Dryer; Laundry located in basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (8.2% below list).
• Recommended offer: $147k (8.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#540 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A-, housing A-; Watch: amenities C-, schools D, crime F.
• Watertown City School District (urban): math 34% / reading 54% proficiency, ranked #481 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.0%/yr); 223 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $126k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,776 (8.2% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• GRM: 9.1

CMA / ARV

• ARV (median comp): $192,360
• List price: $159,900
• Delta: -17.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 Emerson St	0.51mi	3/1.0	1,100 (+9%)	8mo	$128,000	$116	56
131 Girard Ave	0.65mi	3/1.0	924 (-9%)	4mo	$140,000	$152	52
18451 County Route 162	0.53mi	3/1.0	1,065 (+5%)	19mo	$218,450	$205	51
336 N Colorado Ave	0.25mi	2/2.0 (-1)	1,128 (+12%)	12mo	$154,000	$137	50
134 Colorado Ave	0.42mi	3/1.0	1,126 (+11%)	14mo	$152,500	$135	50
715 Lillian St	0.67mi	2/1.0 (-1)	1,040 (+3%)	14mo	$134,000	$129	47
807 Bingham Ave	0.33mi	4/1.5 (+1)	1,152 (+14%)	10mo	$145,000	$126	46
629 Bronson St	0.41mi	2/1.0 (-1)	882 (-13%)	18mo	$55,000	$62	39
616 Lillian St	0.58mi	2/1.0 (-1)	902 (-11%)	16mo	$125,500	$139	36
250 Stuart St	0.73mi	3/1.5	1,144 (+13%)	8mo	$185,000	$162	36
1106 Harrison St	0.62mi	2/1.5 (-1)	1,124 (+11%)	15mo	$210,000	$187	33
701 Cleveland St	0.70mi	3/1.0	1,160 (+15%)	15mo	$205,000	$177	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-8,682
• Equity at exit: $23,842

10-year hold

• IRR: 9.5%
• Equity multiple: 1.89×
• Total profit: $39,841
• Equity at exit: $13,825

Cash invested: $44,772 (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 13601

• Home prices YoY: -5.6%
• Rents YoY: 10.0%
• Active inventory: 223
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,468 high
• Mortgage (P&I): −$839
• Tax from tax record: −$105 /mo · $1,261/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $149

Break-even live

Break-even rent $1,279

Max offer price $159,900

Occupancy floor 85%

Sensitivity live

Price	-10% $240	-5% $195	+0% $149	+5% $104	+10% $59
Rent	-10% $33	-5% $91	+0% $149	+5% $207	+10% $265
Rate	-1.0pp $230	-0.5pp $190	base $149	+0.5pp $108	+1.0pp $66

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1029 Gill St Watertown, NY	3.0	1.0	1275	$1,950	$1.53	44d	1	0.18mi
256 Michigan Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,440	$1.00	44d	9	0.31mi
927 State St Watertown, NY	2.0	1.0	900	$1,000	$1.11	44d	1	0.40mi
911 State St Unit 3 Watertown, NY	3.0	1.0	1200	$995	$0.83	44d	1	0.40mi
311 High St Watertown, NY	2.0	1.0	851	$1,200	$1.41	44d	1	0.49mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	44d	1	0.50mi
816 Boyd St Unit 1 Watertown, NY	2.0	1.0	980	$1,500	$1.53	44d	1	0.53mi
109 Spring Ave Watertown, NY	2.0	1.0	1344	$1,200	$0.89	44d	1	0.74mi
720 Cadwell St Watertown, NY	2.0	1.5	1300	$995	$0.77	44d	1	0.86mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	44d	1	0.89mi
611 Cooper St Watertown, NY	3.0	1.0	1190	$1,495	$1.26	44d	1	0.94mi
1815 Olmstead Dr Watertown, NY	2.0–4.0	1.0–2.0	1380	$1,462	$1.06	44d	6	1.05mi
159 Mullin St Unit 2 Watertown, NY	2.0	1.0	900	$1,200	$1.33	44d	1	1.21mi
136 N Meadow St Unit A Watertown, NY	2.0	1.0	1000	$995	$0.99	44d	1	1.43mi

Listing history 26 events

1. 2026-06-19
   days on market $159,900 Active 20 DOM
2. 2026-06-18
   days on market $159,900 Active 19 DOM
3. 2026-06-17
   days on market $159,900 Active 18 DOM
4. 2026-06-16
   days on market $159,900 Active 17 DOM
5. 2026-06-15
   days on market $159,900 Active 16 DOM
6. 2026-06-14
   days on market $159,900 Active 14 DOM
7. 2026-06-12
   days on market $159,900 Active 13 DOM
8. 2026-06-09
   days on market $159,900 Active 10 DOM
9. 2026-06-08
   days on market $159,900 Active 9 DOM
10. 2026-06-07
    days on market $159,900 Active 8 DOM
11. 2026-06-05
    days on market $159,900 Active 5 DOM
12. 2026-06-03
    days on market $159,900 Active 4 DOM
13. 2026-06-02
    days on market $159,900 Active 3 DOM
14. 2026-06-01
    days on market $159,900 Active 2 DOM
15. 2026-05-30
    pricestatusdays on marketlisting id $159,900 Active 1 DOM
16. 2026-04-18
    price $159,000 937-char remark
17. 2026-04-03
    listed $165,000 Active 937-char remark
18. 2023-05-24
    soldstatus $126,000 Closed Sale or Rented 528-char remark

    Show marketing remark (528 chars)

    Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

19. 2023-05-24
    soldstatus $126,000

    Show marketing remark (528 chars)

    Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

20. 2023-04-25
    status Pending Sale 528-char remark

    Show marketing remark (528 chars)

    Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

21. 2023-02-23
    historical Continue to Show- Under Contract 528-char remark

    Show marketing remark (528 chars)

    Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

22. 2023-01-30
    price $124,900 528-char remark

    Show marketing remark (528 chars)

    Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

23. 2023-01-18
    status Active 528-char remark

    Show marketing remark (528 chars)

    Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

24. 2023-01-03
    historical Continue to Show- Under Contract 528-char remark

    Show marketing remark (528 chars)

    Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

25. 2022-11-14
    price $127,900 528-char remark

    Show marketing remark (528 chars)

    Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

26. 2022-10-25
    listed $129,900 Active 528-char remark

    Show marketing remark (528 chars)

    Check out this terrific 3 bedroom home in the City of Watertown! This one has been meticulously maintained with updates that include the entire exterior has been painted, a new roof, the driveway has been redone, the furnace although older has been routinely maintained. If your looking for a well cared for home with a great sized yard then this is the one you've been waiting for! For total piece of mind the seller will provide the buyer a home warranty that covers the home for the 1st year they own it - move in worry free!

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,261 · $105/mo
• Projected year-2 tax: $1,982 · $165/mo
• Expected delta: +$721/yr (+$60/mo · 57.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,613
• − Mortgage interest: −$8,957
• − Property taxes: −$1,261
• − Insurance: −$800
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$4,652
• Taxable loss: −$874
• Est. tax savings @ 24.0%: +$210
• After-tax cash flow: $2,001/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.

Schools (NCES district)

• District: Watertown City School District
• NCES district ID: 3630120
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 54% ▲ 12.00%
• Median HH income: $40,919
• Composite: 36.86/100
• National rank: #4551
• State rank: #481 of 590 in NY

Livability — Watertown

• Score: 68/100
• State rank: #540
• US rank: #9700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watertown, NY
• County: Jefferson County · 47,417 people
• City population: 36,839
• Metro: Watertown-Fort Drum, NY
• Population (ZIP): 36,839
• Household income: $58,791
• Rent vs Own: 51.4% rent · 48.6% own
• Severe rent burden: 1634.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 111,748 people
• By 2030: 109,370 · -2.1%
• By 2040: 103,828 · -7.1%
• By 2050: 98,523 · -11.8%
• By 2075: 91,422 · -18.2%
• By 2100: 78,214 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 7% Romanian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Jefferson

• 2024 margin: Strong R (+23.6) · D 38.2% · R 61.8%
• 2008→2024 swing: -18.3pp toward R · 2008: -5.3pp · 2024: -23.6pp
• All cycles: 2024: R+23.6 2020: R+19.0 2016: R+22.4 2012: R+2.9 2008: R+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.86%
• Current HPI: 316.636
• Rent YoY: ▲ 9.96%
• Metro: Watertown-Fort Drum, NY
• 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

+23.1% since first listed

13 events — show timeline

• 2026-05-30 Listed $159,900 CNYIS
• 2026-05-20 Listing Removed — CNYIS
• 2026-04-18 Price Changed $159,000 CNYIS
• 2026-04-03 Listed $165,000 CNYIS
• 2023-05-24 Sold (Public Records) $126,000 Public Records
• 2023-05-24 Sold (MLS) $126,000 CNYIS
• 2023-04-25 Pending — CNYIS
• 2023-02-23 Contingent — CNYIS
• 2023-01-30 Price Changed $124,900 CNYIS
• 2023-01-18 Relisted — CNYIS
• 2023-01-03 Contingent — CNYIS
• 2022-11-14 Price Changed $127,900 CNYIS
• 2022-10-25 Listed $129,900 CNYIS

Property tax history

+22.6%/yr

Latest (2025): $1,261 · -5.5% YoY. Source: county tax records.