23 Dodge Pl · Gouverneur, NY 13642

$150,000

9 bd · 3.9 ba · 4,584 sqft · MultiFamily public records · 1 Days on market

Built 1950 6,860 sqft lot

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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 +8.1/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Already appraised 4 unit MULTI-FAMILY home that has been in the same family for three generations. All 4 units are currently rented. There is a total of 10bedrooms and 4 bathrooms. Until 1-3 are 2 bedroom, 1 bath units and unit 4 is a 4 bedroom, 1 bath unit. All units have laundry hookups. Landlord currently provides lawn and snow removal. Large paved parking area. A storage shed. Located on a quiet side street in the village.

Key facts

• 6,860 sq ft lot
• 6 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $505/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Cap rate 18.4% vs local median 7.5% in Gouverneur — 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 67/100 on livability (#605 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities F, commute F, employment F.
• Gouverneur Central School District (town): math 23% / reading 34% proficiency, ranked #582 of 590 in NY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Gouverneur Elementary School (math 12% / reading 32%, grade F, #1,923 of 2,108 statewide, top 92%, 506 students, 62% FRL); Gouverneur Middle School (math 12% / reading 34%, grade F, #646 of 729 statewide, top 89%, 472 students, 68% FRL); Gouverneur High School (math 92% / reading 75%, grade A, #409 of 1,100 statewide, top 39%, 467 students, 63% FRL) — zoned schools average 64% FRL vs 46% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 43% at this address vs 28% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Gouverneur Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 63 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 $10k of equity ($1k loan paydown + $9k appreciation (6.2% 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 (6.2% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 13y 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 $105k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.23% ✓
• Cap rate: 18.41%
• Cash-on-cash: 43.26%
• DSCR: 2.92
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.0%
• Equity multiple: 4.38×
• Total profit: $142,089
• Equity at exit: $96,686

10-year hold

• IRR: 49.7%
• Equity multiple: 9.14×
• Total profit: $342,089
• Equity at exit: $177,435

Cash invested: $42,000 (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 13642

• Home prices YoY: 1.8%
• Active inventory: 63
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $3,342 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$277 /mo · $3,325/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $1,514

Break-even live

Break-even rent $1,426

Max offer price $150,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,599	-5% $1,556	+0% $1,514	+5% $1,472	+10% $1,429
Rent	-10% $1,250	-5% $1,382	+0% $1,514	+5% $1,646	+10% $1,778
Rate	-1.0pp $1,590	-0.5pp $1,552	base $1,514	+0.5pp $1,475	+1.0pp $1,436

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$3,342
Total (3 units)			$3,342

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2025-09-22
   status Pending
2. 2025-09-22
   listed $150,000 Active
3. 2024-01-31
   historical $1,100
4. 2024-01-26
   listed $1,100
5. 2024-01-20
   historical $1,100
6. 2024-01-14
   listed $1,100
7. 2024-01-02
   historical $1,100
8. 2024-01-02
   historical $1,100
9. 2024-01-02
   listed $1,100
10. 2024-01-02
    listed $700
11. 2023-10-15
    historical $1,300
12. 2023-10-15
    historical $1,300
13. 2023-10-14
    listed $1,300
14. 2023-10-14
    listed $600
15. 2022-10-11
    soldstatus $105,000 Closed Sale or Rented 430-char remark

    Show marketing remark (431 chars)

    Already appraised 4 unit MULTI-FAMILY home that has been in the same family for three generations. All 4 units are currently rented. There is a total of 10 bedrooms and 4 bathrooms. Until 1-3 are 2 bedroom, 1 bath units and unit 4 is a 4 bedroom, 1 bath unit. All units have laundry hookups. Landlord currently provides lawn and snow removal. Large paved parking area. A storage shed. Located on a quiet side street in the village.

16. 2022-10-11
    soldstatus $105,000 431-char remark

    Show marketing remark (431 chars)

    Already appraised 4 unit MULTI-FAMILY home that has been in the same family for three generations. All 4 units are currently rented. There is a total of 10 bedrooms and 4 bathrooms. Until 1-3 are 2 bedroom, 1 bath units and unit 4 is a 4 bedroom, 1 bath unit. All units have laundry hookups. Landlord currently provides lawn and snow removal. Large paved parking area. A storage shed. Located on a quiet side street in the village.

17. 2022-10-02
    status Pending Sale 430-char remark

    Show marketing remark (430 chars)

    Already appraised 4 unit MULTI-FAMILY home that has been in the same family for three generations. All 4 units are currently rented. There is a total of 10bedrooms and 4 bathrooms. Until 1-3 are 2 bedroom, 1 bath units and unit 4 is a 4 bedroom, 1 bath unit. All units have laundry hookups. Landlord currently provides lawn and snow removal. Large paved parking area. A storage shed. Located on a quiet side street in the village.

18. 2022-09-15
    listed Continue to Show- Under Contract 430-char remark

    Show marketing remark (430 chars)

    Already appraised 4 unit MULTI-FAMILY home that has been in the same family for three generations. All 4 units are currently rented. There is a total of 10bedrooms and 4 bathrooms. Until 1-3 are 2 bedroom, 1 bath units and unit 4 is a 4 bedroom, 1 bath unit. All units have laundry hookups. Landlord currently provides lawn and snow removal. Large paved parking area. A storage shed. Located on a quiet side street in the village.

19. 2021-11-22
    listed $125,000 430-char remark

    Show marketing remark (431 chars)

    Already appraised 4 unit MULTI-FAMILY home that has been in the same family for three generations. All 4 units are currently rented. There is a total of 10 bedrooms and 4 bathrooms. Until 1-3 are 2 bedroom, 1 bath units and unit 4 is a 4 bedroom, 1 bath unit. All units have laundry hookups. Landlord currently provides lawn and snow removal. Large paved parking area. A storage shed. Located on a quiet side street in the village.

20. 2021-11-22
    listed $125,000 431-char remark

    Show marketing remark (431 chars)

    Already appraised 4 unit MULTI-FAMILY home that has been in the same family for three generations. All 4 units are currently rented. There is a total of 10 bedrooms and 4 bathrooms. Until 1-3 are 2 bedroom, 1 bath units and unit 4 is a 4 bedroom, 1 bath unit. All units have laundry hookups. Landlord currently provides lawn and snow removal. Large paved parking area. A storage shed. Located on a quiet side street in the village.

21. 2015-08-07
    historical
22. 2015-01-07
    listed $79,999
23. 2014-01-31
    historical
24. 2013-07-26
    listed $79,900

ⓘ 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: $3,325 · $277/mo
• Projected year-2 tax: $3,325 · $277/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,104
• − Mortgage interest: −$8,402
• − Property taxes: −$3,325
• − Insurance: −$750
• − Repairs & maintenance: −$3,208
• − Management: −$3,208
• − Depreciation: −$4,364
• Taxable income: $16,847
• Est. tax owed @ 24.0%: −$4,043
• After-tax cash flow: $14,125/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: Gouverneur Central School District
• NCES district ID: 3612360
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 34% ▲ 8.00%
• Median HH income: $41,217
• Composite: 24.08/100
• National rank: #7757
• State rank: #582 of 590 in NY

Livability — Gouverneur

• Score: 67/100
• State rank: #605
• US rank: #10956

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gouverneur, NY
• Population (ZIP): 9,018

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 6% Black 4%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 8% Slovak 4% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 2%

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: ▲ 6.25%
• Current HPI: 349.6603
• 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

+87.7% since first listed

24 events — show timeline

• 2025-09-22 Pending — SLCMLS
• 2025-09-22 Listed $150,000 SLCMLS
• 2024-01-31 Rental Removed $1,100 APPFOLIO
• 2024-01-26 Listed for Rent $1,100 APPFOLIO
• 2024-01-20 Rental Removed $1,100 APPFOLIO
• 2024-01-14 Listed for Rent $1,100 APPFOLIO
• 2024-01-02 Rental Removed $1,100 APPFOLIO
• 2024-01-02 Rental Removed $1,100 APPFOLIO
• 2024-01-02 Listed for Rent $1,100 APPFOLIO
• 2024-01-02 Listed for Rent $700 APPFOLIO
• 2023-10-15 Rental Removed $1,300 APPFOLIO
• 2023-10-15 Rental Removed $1,300 APPFOLIO
• 2023-10-14 Listed for Rent $1,300 APPFOLIO
• 2023-10-14 Listed for Rent $600 APPFOLIO
• 2022-10-11 Sold (MLS) $105,000 SLCMLS
• 2022-10-11 Sold (MLS) $105,000 CNYIS
• 2022-10-02 Pending — CNYIS
• 2022-09-15 Listed — CNYIS
• 2021-11-22 Listed $125,000 SLCMLS
• 2021-11-22 Listed $125,000 CNYIS
• 2015-08-07 Listing Removed — CNYIS
• 2015-01-07 Listed $79,999 CNYIS
• 2014-01-31 Listing Removed — CNYIS
• 2013-07-26 Listed $79,900 CNYIS

Property tax history

+0.3%/yr

Latest (2025): $3,325 · +1.7% YoY. Source: county tax records.