24 River St · Norwood, NY 13668

$49,900

3 bd · 1.0 ba · 1,047 sqft · SingleFamily public records · 31 Days on market

Built 1900 0.33 ac lot $48/sqft · 59% below area

---

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
• ARV discount +7.5/15.0
• Appreciation +6.8/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Quiet Street with 3-bedrooms. This property is on a dead end street with a 16x20 detached garage. There is a newly renovated bathroom on the first floor. The kitchen is nice white newer cabinets. The property is a fixer upper and will require some attention but will make a great family home.

Key facts

• Quiet street
• Detached garage
• 0.33 acre lot

Tags

• QUIET STREET
• DETACHED GARAGE
• NEWLY RENOVATED BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#541 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools D+, 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.
• Market conditions: 26 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 $2k of equity ($345 loan paydown + $2k appreciation (3.6% 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 (3.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $50k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1900 — 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. 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.
6. 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.
7. 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: 2.18% ✓
• Cap rate: 18.64%
• Cash-on-cash: 44.09%
• DSCR: 2.96
• GRM: 3.8

CMA / ARV

• ARV (median comp): $120,811
• List price: $49,900
• Delta: -58.70%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 River St	0.11mi	2/1.0 (-1)	1,080 (+3%)	22mo	$32,000	$30	67
48 Spring St	0.20mi	2/1.0 (-1)	925 (-12%)	16mo	$37,500	$41	53
7 Bernard Ave	0.41mi	2/1.0 (-1)	1,200 (+15%)	3mo	$74,500	$62	49
2 Elm St	0.52mi	3/2.0	1,170 (+12%)	7mo	$125,000	$107	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.2%
• Equity multiple: 3.89×
• Total profit: $40,321
• Equity at exit: $24,138

10-year hold

• IRR: 49.3%
• Equity multiple: 7.86×
• Total profit: $95,819
• Equity at exit: $38,580

Cash invested: $13,972 (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 13668

• Home prices YoY: 1.1%
• Active inventory: 26
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,086 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $513

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 48%

Sensitivity live

Price	-10% $548	-5% $531	+0% $513	+5% $496	+10% $479
Rent	-10% $428	-5% $470	+0% $513	+5% $556	+10% $599
Rate	-1.0pp $538	-0.5pp $526	base $513	+0.5pp $500	+1.0pp $487

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-16
   status Pending 292-char remark

   Show marketing remark (292 chars)

   Quiet Street with 3-bedrooms. This property is on a dead end street with a 16x20 detached garage. There is a newly renovated bathroom on the first floor. The kitchen is nice white newer cabinets. The property is a fixer upper and will require some attention but will make a great family home.

2. 2026-05-04
   price $49,900 292-char remark

   Show marketing remark (292 chars)

   Quiet Street with 3-bedrooms. This property is on a dead end street with a 16x20 detached garage. There is a newly renovated bathroom on the first floor. The kitchen is nice white newer cabinets. The property is a fixer upper and will require some attention but will make a great family home.

3. 2026-04-14
   listed $52,500 Active 292-char remark

   Show marketing remark (292 chars)

   Quiet Street with 3-bedrooms. This property is on a dead end street with a 16x20 detached garage. There is a newly renovated bathroom on the first floor. The kitchen is nice white newer cabinets. The property is a fixer upper and will require some attention but will make a great family home.

4. 2001-01-16
   soldstatus $28,000
5. 1995-07-31
   soldstatus $27,500

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 71% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,036
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,043
• − Management: −$1,043
• − Depreciation: −$1,452
• Taxable income: $5,705
• Est. tax owed @ 24.0%: −$1,369
• After-tax cash flow: $4,791/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: 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 — Norwood

• Score: 68/100
• State rank: #541
• US rank: #9728

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwood, NY
• City population: 3,313
• Population (ZIP): 3,313

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 13% Portuguese 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 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: ▲ 3.60%
• Current HPI: 318.2533
• 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

+81.5% since first listed

5 events — show timeline

• 2026-05-16 Pending — SLCMLS
• 2026-05-04 Price Changed $49,900 SLCMLS
• 2026-04-14 Listed $52,500 SLCMLS
• 2001-01-16 Sold (Public Records) $28,000 Public Records
• 1995-07-31 Sold (Public Records) $27,500 Public Records

Property tax history

+9.0%/yr

Latest (2025): $2,586 · +4.4% YoY. Source: county tax records.