919 Academy St · Watertown, NY 13601

$144,000

4 bd · 2.0 ba · 2,128 sqft · SingleFamily public records · 113 Days on market

Built 1860 7,560 sqft lot Est $270k · 47% under

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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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.4/10.0
• Rent growth +5.0/5.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your next home sweet home! Nestled in the heart of Watertown, this charming 4-bedroom, 2-bathroom house offers a delightful blend of comfort and convenience. Boasting a generous 2,128 square feet of living space, this residence is perfectly suited for those who enjoy spreading out or entertaining guests. Step inside and be greeted by a warm, welcoming formal dining room where you’ll host memorable dinners and laugh-filled evenings. The enclosed front porch provides a cozy nook for morning coffees or a serene spot to unwind after a busy day. Each of the bedrooms offers its own unique charm, with the primary bedroom providing ample space for relaxation and rejuvenation. The a

Key facts

• Formal dining room
• Enclosed front porch
• 7,560 sq ft lot

Tags

• FORMAL DINING ROOM
• ENCLOSED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• Recommended offer: $131k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 6.2% in Watertown — 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 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; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• This rent runs 37% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $996 of loan paydown is wiped out by about $4k 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 $40k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,040 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
7. 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.
8. 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.
9. 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: 1.24% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.80%
• DSCR: 1.57
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $270,256
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
919 Academy St	0.00mi	4/2.0	2,128 (0%)	0mo	$150,000	$70	100
418 Brainard St	0.27mi	4/2.0	2,152 (+1%)	1mo	$274,000	$127	84
946 Franklin St	0.28mi	4/1.5	2,110 (-1%)	0mo	$256,000	$121	83
1141 State St	0.27mi	4/2.0	2,272 (+7%)	1mo	$299,900	$132	76
360 Brainard St	0.39mi	4/2.0	2,016 (-5%)	2mo	$162,000	$80	72
1025 Boyd St	0.12mi	4/3.0	2,345 (+10%)	2mo	$231,000	$99	71
1120 Temple St	0.23mi	3/1.5 (-1)	1,980 (-7%)	2mo	$300,000	$152	69
340 Winslow St	0.35mi	5/2.0 (+1)	2,288 (+8%)	2mo	$203,425	$89	64
711 Cadwell St	0.32mi	4/1.5	1,870 (-12%)	1mo	$239,900	$128	62
1151 Harrison St	0.25mi	3/2.5 (-1)	1,871 (-12%)	0mo	$300,000	$160	61
205 Michigan Ave	0.42mi	4/2.0	1,848 (-13%)	2mo	$280,000	$152	56
202 Colorado Ave	0.49mi	5/2.5 (+1)	2,308 (+8%)	2mo	$169,501	$73	55

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: 8.1%
• Equity multiple: 1.34×
• Total profit: $13,546
• Equity at exit: $21,471

10-year hold

• IRR: 21.3%
• Equity multiple: 3.24×
• Total profit: $90,219
• Equity at exit: $12,450

Cash invested: $40,320 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,790 high
• Mortgage (P&I): −$755
• Tax from tax record: −$169 /mo · $2,027/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $430

Break-even live

Break-even rent $1,246

Max offer price $144,000

Occupancy floor 71%

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 Academy St Watertown, NY	3.0	2.0	1652	$1,600	$0.97	44d	1	0.25mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	44d	1	0.33mi
417 Franklin St Watertown, NY	3.0	2.5	3000	$1,750	$0.58	44d	1	0.37mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	44d	1	0.55mi
256 Michigan Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,626	$1.13	44d	9	0.69mi
128 Park Ave Watertown, NY	3.0	2.0	2300	$2,400	$1.04	44d	1	0.75mi
1815 Olmstead Dr Watertown, NY	2.0–4.0	1.0–2.0	1380	$1,676	$1.21	44d	6	1.02mi
377 W Main St Unit 1 Watertown, NY	3.0	1.0	1991	$1,350	$0.68	44d	1	1.13mi
156 N Meadow St Watertown, NY	4.0	1.0	2535	$1,500	$0.59	44d	1	1.28mi
702 Leray St Watertown, NY	3.0	1.0	2700	$1,300	$0.48	44d	1	1.32mi

Listing history 26 events

1. 2026-06-07
   statusdays on market $144,000 Pending 113 DOM
2. 2026-06-05
   days on market $144,000 Active Under Contract 112 DOM
3. 2026-06-03
   days on market $144,000 Active Under Contract 111 DOM
4. 2026-06-02
   days on market $144,000 Active Under Contract 110 DOM
5. 2026-06-01
   days on market $144,000 Active Under Contract 109 DOM
6. 2026-05-31
   days on market $144,000 Active Under Contract 108 DOM
7. 2026-05-30
   days on market $144,000 Active Under Contract 107 DOM
8. 2026-03-27
   historical Active Under Contract
9. 2026-02-12
   listed $144,000 Active
10. 2026-02-11
    status Active
11. 2025-11-24
    historical
12. 2025-11-23
    status Pending
13. 2025-11-07
    historical Active Under Contract
14. 2025-06-20
    price $142,000
15. 2025-05-24
    listed $144,000 Active
16. 2025-05-21
    historical
17. 2025-05-12
    price $144,000
18. 2025-04-02
    price $149,000
19. 2025-03-07
    status Active
20. 2025-03-06
    listed $160,000 Active
21. 2017-03-31
    historical
22. 2016-10-12
    listed $154,000
23. 2010-10-29
    soldstatus $155,000
24. 2010-10-27
    soldstatus $155,000
25. 2010-04-26
    listed $154,900
26. 2006-10-02
    soldstatus $90,000

ⓘ 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: $2,027 · $169/mo
• Projected year-2 tax: $2,231 · $186/mo
• Expected delta: +$203/yr (+$17/mo · 10.0%)

ⓘ 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 ≥91°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: $21,483
• − Mortgage interest: −$8,066
• − Property taxes: −$2,027
• − Insurance: −$720
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$4,189
• Taxable income: $3,043
• Est. tax owed @ 24.0%: −$730
• After-tax cash flow: $4,432/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

+60.0% since first listed

19 events — show timeline

• 2026-03-27 Contingent — CNYIS
• 2026-02-12 Listed $144,000 CNYIS
• 2026-02-11 Relisted — CNYIS
• 2025-11-24 Listing Removed — CNYIS
• 2025-11-23 Pending — CNYIS
• 2025-11-07 Contingent — CNYIS
• 2025-06-20 Price Changed $142,000 CNYIS
• 2025-05-24 Listed $144,000 CNYIS
• 2025-05-21 Listing Removed — CNYIS
• 2025-05-12 Price Changed $144,000 CNYIS
• 2025-04-02 Price Changed $149,000 CNYIS
• 2025-03-07 Relisted — CNYIS
• 2025-03-06 Listed $160,000 CNYIS
• 2017-03-31 Listing Removed — CNYIS
• 2016-10-12 Listed $154,000 CNYIS
• 2010-10-29 Sold (Public Records) $155,000 Public Records
• 2010-10-27 Sold (MLS) $155,000 CNYIS
• 2010-04-26 Listed $154,900 CNYIS
• 2006-10-02 Sold (Public Records) $90,000 Public Records

Property tax history

+18.2%/yr

Latest (2025): $2,027 · +2.0% YoY. Source: county tax records.