544 S Mechanic St · Carthage, NY 13619

$239,900

3 bd · 2.0 ba · 1,296 sqft · MultiFamily public records · 22 Days on market

Built 1900 0.26 ac lot

---

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 +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Listed at assessed value, this 4 bedroom, 2 full bathroom home is move in ready. The natural gas furnace, and electric water heater are only 1 month old. Washer and dryer are on the second floor. 2 bedroom upstairs with a full bathroom, and 2 bedrooms downstairs with a full bathroom. This home is priced to sell. Don't judge a book by its cover, this is a home you have to see the inside of. Make an apt today.

Key facts

• Move in ready home
• Formal dining room
• Private back yard

Tags

• MOVE IN READY HOME
• FORMAL DINING ROOM
• LARGE WALK-IN PANTRY
• UPDATED FULL BATHROOM
• FULL LENGTH COVERED BACK DECK
• PRIVATE BACK YARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected; Electric service
• Home design: Single-story; Resale property; Vinyl siding
• Construction: Stone foundation
• Exterior features: Covered porch; Deck; Gravel driveway; Rectangular residential lot with 69 x 165 dimensions; City street frontage

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Hardwood; Varies
• Bathrooms: 2 full bathrooms, 1 on the main level
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Entrance foyer; Bedroom on main level; Partial basement
• Laundry & utility: Upper-level laundry; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 5.5% in Carthage — 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 69/100 on livability (#506 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, crime B; Watch: schools C-, employment D+, amenities F.
• Carthage Central School District (rural): math 30% / reading 46% proficiency, ranked #539 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• At $3,874/mo this rent would consume 74% of the median local household income ($63k/yr) (locally 379% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $67k; list at $240k implies a 258% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $236,301 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 1.61% ✓
• Cap rate: 13.76%
• Cash-on-cash: 26.68%
• DSCR: 2.19
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.4%
• Equity multiple: 4.36×
• Total profit: $225,787
• Equity at exit: $216,121

10-year hold

• IRR: 38.5%
• Equity multiple: 9.78×
• Total profit: $590,101
• Equity at exit: $466,073

Cash invested: $67,172 (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 13619

• Home prices YoY: 26.0%
• Active inventory: 77
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $3,874 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$209 /mo · $2,506/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$814
• Net cashflow: $1,494

Break-even live

Break-even rent $1,983

Max offer price $239,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,629	-5% $1,562	+0% $1,494	+5% $1,426	+10% $1,358
Rent	-10% $1,188	-5% $1,341	+0% $1,494	+5% $1,647	+10% $1,800
Rate	-1.0pp $1,614	-0.5pp $1,555	base $1,494	+0.5pp $1,431	+1.0pp $1,368

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,872
Total (4 units)			$3,874

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
719 Alexandria St Unit 719 Carthage, NY	3.0	1.0	1100	$995	$0.90	44d	1	1.02mi

Listing history 25 events

1. 2026-06-19
   days on market $239,900 Active 22 DOM
2. 2026-06-18
   days on market $239,900 Active 21 DOM
3. 2026-06-17
   days on market $239,900 Active 20 DOM
4. 2026-06-16
   days on market $239,900 Active 19 DOM
5. 2026-06-15
   days on market $239,900 Active 18 DOM
6. 2026-06-14
   days on market $239,900 Active 16 DOM
7. 2026-06-12
   days on market $239,900 Active 15 DOM
8. 2026-06-09
   days on market $239,900 Active 12 DOM
9. 2026-06-08
   days on market $239,900 Active 11 DOM
10. 2026-06-07
    days on market $239,900 Active 10 DOM
11. 2026-06-05
    days on market $239,900 Active 7 DOM
12. 2026-06-03
    days on market $239,900 Active 6 DOM
13. 2026-06-02
    days on market $239,900 Active 5 DOM
14. 2026-06-01
    days on market $239,900 Active 4 DOM
15. 2026-05-31
    days on market $239,900 Active 3 DOM
16. 2026-05-30
    days on market $239,900 Active 2 DOM
17. 2026-05-28
    listed $239,900 Active
18. 2025-10-31
    historical $1,700
19. 2025-10-28
    listed $1,700
20. 2025-10-23
    historical $1,700
21. 2025-10-09
    listed $1,700
22. 2014-08-28
    soldstatus $67,000
23. 2014-08-27
    soldstatus $67,000 411-char remark

    Show marketing remark (411 chars)

    Listed at assessed value, this 4 bedroom, 2 full bathroom home is move in ready. The natural gas furnace, and electric water heater are only 1 month old. Washer and dryer are on the second floor. 2 bedroom upstairs with a full bathroom, and 2 bedrooms downstairs with a full bathroom. This home is priced to sell. Don't judge a book by its cover, this is a home you have to see the inside of. Make an apt today.

24. 2014-05-14
    listed $74,900 411-char remark

    Show marketing remark (411 chars)

    Listed at assessed value, this 4 bedroom, 2 full bathroom home is move in ready. The natural gas furnace, and electric water heater are only 1 month old. Washer and dryer are on the second floor. 2 bedroom upstairs with a full bathroom, and 2 bedrooms downstairs with a full bathroom. This home is priced to sell. Don't judge a book by its cover, this is a home you have to see the inside of. Make an apt today.

25. 2005-05-17
    soldstatus $45,000

ⓘ 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: $2,506 · $209/mo
• Projected year-2 tax: $3,280 · $273/mo
• Expected delta: +$774/yr (+$65/mo · 30.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 16 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: $46,488
• − Mortgage interest: −$13,438
• − Property taxes: −$2,506
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,719
• − Management: −$3,719
• − Depreciation: −$6,979
• Taxable income: $14,927
• Est. tax owed @ 24.0%: −$3,583
• After-tax cash flow: $14,341/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: Carthage Central School District
• NCES district ID: 3606630
• Math proficiency: 30% ▼ -18.00%
• Reading proficiency: 46% ▲ 2.00%
• Median HH income: $48,450
• Composite: 32.63/100
• National rank: #5668
• State rank: #539 of 590 in NY

Livability — Carthage

• Score: 69/100
• State rank: #506
• US rank: #8895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carthage, NY
• County: Jefferson County · 47,417 people
• City population: 10,578
• Metro: Watertown-Fort Drum, NY
• Population (ZIP): 10,578
• Household income: $63,120
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 379.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Lithuanian 9% Romanian 3% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 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: ▲ 84.02%
• Current HPI: 406.9439
• Rent YoY: —
• 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

+433.1% since first listed

9 events — show timeline

• 2026-05-28 Listed $239,900 CNYIS
• 2025-10-31 Rental Removed $1,700 CNYIS
• 2025-10-28 Listed for Rent $1,700 CNYIS
• 2025-10-23 Rental Removed $1,700 CNYIS
• 2025-10-09 Listed for Rent $1,700 CNYIS
• 2014-08-28 Sold (Public Records) $67,000 Public Records
• 2014-08-27 Sold (MLS) $67,000 CNYIS
• 2014-05-14 Listed $74,900 CNYIS
• 2005-05-17 Sold (Public Records) $45,000 Public Records

Property tax history

-0.7%/yr

Latest (2025): $2,506 · +4.4% YoY. Source: county tax records.