8720 US 56, St · Norfolk, NY 13667

$159,900

9 bd · 5.1 ba · 3,200 sqft · MultiFamily · 212 Days on market

Built 1950 Good condition 460 sqft lot $50/sqft · 8% below area Est $174k · 8% 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 +11.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.9/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0

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

Excellent investment opportunity for the investor! This 5 apartment complex features modern apartments, one three bedroom, two two bedrooms, and two one bedrooms on a 4.6 acre lot with plenty of parking for everyone. There is a very large porch in the front. Close to all amenities and very near the local park. A great work project for the enterprising young investor. This building has recently undergone several new updates this past summer, including new porches. There is a huge shortage of living quarters in Norfolk, so it is a great investment. Plese contact for your exclusive showing.

Key facts

• New porches
• 4.6 acre lot
• Large porch

Tags

• 4.6 ACRE LOT
• LARGE PORCH
• NEW PORCHES

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.7-bath units multifamily listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $469/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#737 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Norwood-Norfolk Central School District (rural): math 30% / reading 36% proficiency, ranked #568 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Norwood-Norfolk Elementary School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 363 students, 56% FRL); Norwood-Norfolk Middle School (math 17% / reading 34%, grade F, #597 of 729 statewide, top 82%, 295 students, 64% FRL); Norwood-Norfolk School (math 95%, 314 students, 59% FRL) — zoned schools average 60% FRL vs 44% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 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 $821 of equity ($1k loan paydown + $-285 appreciation (-0.2% 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 (-0.2% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.99% ✓
• Cap rate: 16.86%
• Cash-on-cash: 37.74%
• DSCR: 2.68
• GRM: 4.2

CMA / ARV

• ARV (median comp): $173,978
• List price: $159,900
• Delta: -8.09%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-0.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.4%
• Equity multiple: 2.87×
• Total profit: $83,710
• Equity at exit: $45,010

10-year hold

• IRR: 41.7%
• Equity multiple: 5.65×
• Total profit: $208,039
• Equity at exit: $52,984

Cash invested: $44,772 (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 13667

• Home prices YoY: -0.1%
• Active inventory: 30
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $3,181 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $1,408

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 51%

Sensitivity live

Price	-10% $1,518	-5% $1,463	+0% $1,408	+5% $1,353	+10% $1,297
Rent	-10% $1,157	-5% $1,282	+0% $1,408	+5% $1,534	+10% $1,659
Rate	-1.0pp $1,488	-0.5pp $1,449	base $1,408	+0.5pp $1,367	+1.0pp $1,324

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.7	$3,180
Total (3 units)			$3,181

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-09
   days on market $159,900 Active 212 DOM
2. 2026-06-08
   days on market $159,900 Active 211 DOM
3. 2026-06-07
   days on market $159,900 Active 210 DOM
4. 2026-06-07
   days on market $159,900 Active 209 DOM
5. 2026-06-04
   days on market $159,900 Active 206 DOM
6. 2026-06-02
   days on market $159,900 Active 205 DOM
7. 2026-06-01
   days on market $159,900 Active 204 DOM
8. 2026-05-31
   days on market $159,900 Active 203 DOM
9. 2025-11-10
   listed $159,900 Active 594-char remark

   Show marketing remark (594 chars)

   Excellent investment opportunity for the investor! This 5 apartment complex features modern apartments, one three bedroom, two two bedrooms, and two one bedrooms on a 4.6 acre lot with plenty of parking for everyone. There is a very large porch in the front. Close to all amenities and very near the local park. A great work project for the enterprising young investor. This building has recently undergone several new updates this past summer, including new porches. There is a huge shortage of living quarters in Norfolk, so it is a great investment. Plese contact for your exclusive showing.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $38,172
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$3,054
• − Management: −$3,054
• − Depreciation: −$4,652
• Taxable income: $15,258
• Est. tax owed @ 24.0%: −$3,662
• After-tax cash flow: $13,234/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.

Condition & rehab AI · 2 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with recent updates, offering a solid investment opportunity. Potential improvements include painting, landscaping, and kitchen/bathroom updates to further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics.
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract potential tenants/investors.
• Rental HVAC system inspection and maintenance — A well-maintained HVAC system ensures comfort and reduces energy costs.
• Resale Kitchen and bathroom updates — Modernizing the kitchen and bathrooms can significantly increase the home's appeal to potential buyers.
• Both Roof inspection and maintenance — A thorough roof inspection can ensure the roof's longevity and prevent costly repairs in the future.
• Both Landscaping and curb appeal improvements — A well-maintained exterior can enhance the home's curb appeal and attract potential tenants/investors.
• Rental HVAC system inspection and maintenance — A well-maintained HVAC system ensures comfort and reduces energy costs.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract potential tenants/investors. ↑
• Rental HVAC system inspection and maintenance — A well-maintained HVAC system ensures comfort and reduces energy costs. ↑
• Resale Kitchen and bathroom updates — Modernizing the kitchen and bathrooms can significantly increase the home's appeal to potential buyers. ↑
• Both Roof inspection and maintenance — A thorough roof inspection can ensure the roof's longevity and prevent costly repairs in the future. ↑
• Both Landscaping and curb appeal improvements — A well-maintained exterior can enhance the home's curb appeal and attract potential tenants/investors. ↑
• Rental HVAC system inspection and maintenance — A well-maintained HVAC system ensures comfort and reduces energy costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Norwood-Norfolk Central School District
• NCES district ID: 3621360
• Math proficiency: 30% ▼ -8.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $43,492
• Composite: 28.05/100
• National rank: #6841
• State rank: #568 of 590 in NY

Livability — Norfolk

• Score: 64/100
• State rank: #737
• US rank: #14031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,460

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Native American 2%
• Common ancestry: Lithuanian 12% Serbian 3% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 1%

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: ▼ -0.18%
• Current HPI: 268.2319
• 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

1 event — show timeline

• 2025-11-10 Listed $159,900 SLCMLS