812 Bronson St · Watertown, NY 13601

$99,900

2 bd · 2.0 ba · 1,406 sqft · MultiFamily public records · 2 Days on market

Built 1860 3,510 sqft lot Est $107k · 7% 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 +30.0/30.0
• ARV discount +10.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Excellent investment opportunity in the heart of Watertown! This duplex at 812 Bronson Street features two fully occupied apartments, providing immediate rental income from day one. Both units are currently rented with established tenants, making this a turnkey addition to any investor's portfolio. The property offers separate living spaces with functional layouts, ample parking, and a convenient location close to schools, shopping, restaurants, public transportation, and Fort Drum. Whether you're looking to expand your rental portfolio or acquire a stable income-producing property, this duplex presents an outstanding opportunity with strong cash flow potential. Located in a desirable renta

Key facts

• Ample parking
• Convenient location
• 3,510 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• FULLY OCCUPIED APARTMENTS
• IMMEDIATE RENTAL INCOME
• SEPARATE LIVING SPACES
• AMPLE PARKING
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Two total units with separate gas and electric meters (2 each)
• Financial info: Owner pays grounds care, snow removal, and trash collection; Rent includes gardener, snow removal, and trash collection; Operating expense details: see remarks

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Existing (resale) property
• Construction: Construction details: see remarks
• Exterior features: Rectangular lot; Lot dimensions approximately 45 x 78

Interior

• Flooring: Laminate; Luxury vinyl; Varies
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Laminate and luxury vinyl flooring; varying floor types throughout; Dirt-floor basement
• Laundry & utility: Electric water heater; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $649/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 21.9% 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; 16 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).
• At $2,453/mo this rent would consume 50% of the median local household income ($59k/yr) (locally 1634% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $42k; list at $100k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $99,900

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 1860 — 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. 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 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: 2.46% ✓
• Cap rate: 21.88%
• Cash-on-cash: 55.67%
• DSCR: 3.48
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $106,856
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 N Rutland St	0.04mi	3/2.0 (+1)	1,610 (+14%)	0mo	$121,600	$76	69
139 Wyoming Ave	0.56mi	3/2.0 (+1)	1,452 (+3%)	3mo	$190,000	$131	61
314 Central St	0.08mi	3/2.5 (+1)	1,616 (+15%)	6mo	$100,000	$62	60
314 Franklin St	0.58mi	2/2.0	1,512 (+8%)	6mo	$83,500	$55	56

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: 59.4%
• Equity multiple: 3.84×
• Total profit: $79,430
• Equity at exit: $14,895

10-year hold

• IRR: 65.9%
• Equity multiple: 9.39×
• Total profit: $234,617
• Equity at exit: $8,638

Cash invested: $27,972 (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: 6.8×

Monthly cashflow live

• Estimated rent: $2,453 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$75 /mo · $896/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $1,298

Break-even live

Break-even rent $810

Max offer price $99,900

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,452
Total (2 units)			$2,453

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1029 Gill St Watertown, NY	3.0	1.0	1275	$1,950	$1.53	43d	1	0.20mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	43d	1	0.24mi
911 State St Unit 3 Watertown, NY	3.0	1.0	1200	$995	$0.83	43d	1	0.25mi
927 State St Watertown, NY	2.0	1.0	900	$1,000	$1.11	43d	1	0.25mi
816 Boyd St Unit 1 Watertown, NY	2.0	1.0	980	$1,500	$1.53	43d	1	0.34mi
621 Academy St Watertown, NY	3.0	2.0	1652	$1,600	$0.97	43d	1	0.42mi
256 Michigan Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,253	$0.87	43d	9	0.53mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	43d	1	0.63mi
720 Cadwell St Watertown, NY	2.0	1.5	1300	$995	$0.77	43d	1	0.66mi
611 Cooper St Watertown, NY	3.0	1.0	1190	$1,495	$1.26	43d	1	0.76mi
109 Spring Ave Watertown, NY	2.0	1.0	1344	$1,200	$0.89	43d	1	0.86mi
351 W Main St Watertown, NY	1.0	1.0	1000	$995	$0.99	43d	1	0.88mi
159 Mullin St Unit 2 Watertown, NY	2.0	1.0	900	$1,200	$1.33	43d	1	0.96mi
836 Leray St Watertown, NY	2.0	1.0	1782	$1,200	$0.67	43d	1	1.10mi
1815 Olmstead Dr Watertown, NY	2.0–4.0	1.0–2.0	1380	$1,249	$0.91	43d	6	1.18mi
136 N Meadow St Unit A Watertown, NY	2.0	1.0	1000	$995	$0.99	43d	1	1.19mi

Listing history 3 events

1. 2026-06-19
   days on market $99,900 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $99,900 Active 1 DOM

ⓘ 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: $896 · $75/mo
• Projected year-2 tax: $1,292 · $108/mo
• Expected delta: +$396/yr (+$33/mo · 44.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 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: $29,436
• − Mortgage interest: −$5,596
• − Property taxes: −$896
• − Insurance: −$500
• − Repairs & maintenance: −$2,355
• − Management: −$2,355
• − Depreciation: −$2,906
• Taxable income: $14,828
• Est. tax owed @ 24.0%: −$3,559
• After-tax cash flow: $12,013/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

+149.8% since first listed

5 events — show timeline

• 2026-06-17 Listed $99,900 CNYIS
• 2024-01-21 Rental Removed $900 BUILDIUM
• 2023-12-20 Listed for Rent $900 BUILDIUM
• 2021-10-21 Sold (Public Records) $42,000 Public Records
• 2007-05-09 Sold (Public Records) $40,000 Public Records

Property tax history

+18.7%/yr

Latest (2025): $896 · +3.9% YoY. Source: county tax records.