308 W Hoard St · Watertown, NY 13601

$129,000

3 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 46 Days on market

Built 1880 2,700 sqft lot $108/sqft · 28% below area Est $178k · 28% 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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +6.1/10.0
• 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 MLS

Cozy city of Watertown home just minutes from Fort Drum. Convenient location, possibly an ideal starter home. Features 3 bedrooms and 1 bathroom. Fresh paint and all new laminate flooring. Call today to schedule a showing.

Key facts

• Security system
• First floor laundry
• Brand new furnace

Tags

• TRANSFERABLE WARRANTY
• BRAND NEW FURNACE
• FIRST FLOOR LAUNDRY
• SECURITY SYSTEM
• PARTIALLY FENCED YARD
• NEW TREES

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water (connected); Sewer connected; Cable available; High-speed internet available; Circuit breaker electrical
• Home design: 2-story home; Resale property
• Construction: Vinyl siding; Stone foundation; Existing (year built details)
• Exterior features: Blacktop driveway; Shed(s) and storage

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: Total of 8 rooms (includes bedroom spaces and other rooms); Laundry on main level
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Gas heating with forced air; Central air conditioning
• Interior features: Eat-in kitchen; Full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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; 13 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 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 $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $84k; list at $129k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.11% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.11%
• DSCR: 1.45
• GRM: 7.5

CMA / ARV

• ARV (median comp): $178,019
• List price: $129,000
• Delta: -27.54%
• 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
653 Thompson St	0.21mi	3/1.5	1,164 (-3%)	3mo	$160,700	$138	81
857 Superior St	0.58mi	3/1.0	1,194 (-0%)	1mo	$175,000	$147	72
136 Charles St	0.30mi	3/1.0	1,265 (+6%)	6mo	$141,500	$112	71
114 Gale St	0.21mi	3/2.0	1,300 (+9%)	6mo	$80,000	$62	67
509 Plum Ave	0.49mi	4/1.5 (+1)	1,200 (+0%)	4mo	$102,500	$85	66
638 Mundy St	0.38mi	3/1.5	1,100 (-8%)	3mo	$155,000	$141	65
250 Stuart St	0.46mi	3/1.5	1,144 (-4%)	8mo	$185,000	$162	63
138 Saint Mary St	0.36mi	3/1.5	1,116 (-7%)	9mo	$35,000	$31	62
327 W Lynde St	0.35mi	3/2.0	1,295 (+8%)	6mo	$232,000	$179	61
522 Frontenac St	0.56mi	3/1.0	1,296 (+8%)	6mo	$142,500	$110	55
862 W Main St	0.60mi	3/2.0	1,137 (-5%)	8mo	$191,450	$168	53
632 Burlington St	0.49mi	3/3.0	1,319 (+10%)	1mo	$209,000	$158	51

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: 4.1%
• Equity multiple: 1.17×
• Total profit: $6,034
• Equity at exit: $19,234

10-year hold

• IRR: 17.7%
• Equity multiple: 2.79×
• Total profit: $64,601
• Equity at exit: $11,154

Cash invested: $36,120 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,433 high
• Mortgage (P&I): −$676
• Tax from tax record: −$97 /mo · $1,166/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $304

Break-even live

Break-even rent $1,047

Max offer price $129,000

Occupancy floor 74%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
611 Cooper St Watertown, NY	3.0	1.0	1190	$1,495	$1.26	43d	1	0.37mi
311 High St Watertown, NY	2.0	1.0	851	$1,200	$1.41	43d	1	0.83mi
136 N Meadow St Unit A Watertown, NY	2.0	1.0	1000	$995	$0.99	43d	1	0.83mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	43d	1	1.05mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	43d	1	1.10mi
159 Mullin St Unit 2 Watertown, NY	2.0	1.0	900	$1,200	$1.33	43d	1	1.13mi
1029 Gill St Watertown, NY	3.0	1.0	1275	$1,950	$1.53	43d	1	1.24mi
911 State St Unit 3 Watertown, NY	3.0	1.0	1200	$995	$0.83	43d	1	1.25mi
927 State St Watertown, NY	2.0	1.0	900	$1,000	$1.11	43d	1	1.27mi
816 Boyd St Unit 1 Watertown, NY	2.0	1.0	980	$1,500	$1.53	43d	1	1.28mi
207 Wealtha Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,500	$1.04	43d	9	1.38mi
720 Cadwell St Watertown, NY	2.0	1.5	1300	$995	$0.77	43d	1	1.43mi
256 Michigan Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,440	$1.00	43d	9	1.47mi

Listing history 21 events

1. 2026-06-19
   days on market $129,000 Active 46 DOM
2. 2026-06-18
   days on market $129,000 Active 45 DOM
3. 2026-06-17
   days on market $129,000 Active 44 DOM
4. 2026-06-16
   days on market $129,000 Active 43 DOM
5. 2026-06-15
   days on market $129,000 Active 42 DOM
6. 2026-06-14
   days on market $129,000 Active 40 DOM
7. 2026-06-12
   days on market $129,000 Active 39 DOM
8. 2026-06-09
   days on market $129,000 Active 36 DOM
9. 2026-06-08
   days on market $129,000 Active 35 DOM
10. 2026-06-07
    days on market $129,000 Active 34 DOM
11. 2026-06-05
    days on market $129,000 Active 31 DOM
12. 2026-06-03
    pricedays on market $129,000 Active 30 DOM
13. 2026-06-02
    days on market $135,000 Active 29 DOM
14. 2026-06-01
    days on market $135,000 Active 28 DOM
15. 2026-05-31
    days on market $135,000 Active 27 DOM
16. 2026-05-30
    days on market $135,000 Active 26 DOM
17. 2026-05-04
    listed $135,000 Active 2049-char remark
18. 2023-04-19
    soldstatus $84,000
19. 2023-04-18
    soldstatus $84,000 Closed Sale or Rented 222-char remark

    Show marketing remark (222 chars)

    Cozy city of Watertown home just minutes from Fort Drum. Convenient location, possibly an ideal starter home. Features 3 bedrooms and 1 bathroom. Fresh paint and all new laminate flooring. Call today to schedule a showing.

20. 2023-02-23
    historical Continue to Show- Under Contract 222-char remark

    Show marketing remark (222 chars)

    Cozy city of Watertown home just minutes from Fort Drum. Convenient location, possibly an ideal starter home. Features 3 bedrooms and 1 bathroom. Fresh paint and all new laminate flooring. Call today to schedule a showing.

21. 2023-02-02
    listed $89,900 Active 222-char remark

    Show marketing remark (222 chars)

    Cozy city of Watertown home just minutes from Fort Drum. Convenient location, possibly an ideal starter home. Features 3 bedrooms and 1 bathroom. Fresh paint and all new laminate flooring. Call today to schedule a showing.

ⓘ 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: $1,166 · $97/mo
• Projected year-2 tax: $1,673 · $139/mo
• Expected delta: +$507/yr (+$42/mo · 43.5%)

ⓘ 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 2/10 Low 7 d/yr ≥92°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: $17,191
• − Mortgage interest: −$7,226
• − Property taxes: −$1,166
• − Insurance: −$645
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − Depreciation: −$3,753
• Taxable income: $1,651
• Est. tax owed @ 24.0%: −$396
• After-tax cash flow: $3,256/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

+43.5% since first listed

6 events — show timeline

• 2026-06-03 Price Changed $129,000 CNYIS
• 2026-05-04 Listed $135,000 CNYIS
• 2023-04-19 Sold (Public Records) $84,000 Public Records
• 2023-04-18 Sold (MLS) $84,000 CNYIS
• 2023-02-23 Contingent — CNYIS
• 2023-02-02 Listed $89,900 CNYIS

Property tax history

+18.7%/yr

Latest (2025): $1,166 · +3.9% YoY. Source: county tax records.