23 Pine St · Potsdam, NY 13676

$455,000

5 bd · 3.0 ba · 2,960 sqft · MultiFamily public records · 76 Days on market

Built 2014 $154/sqft · 6% below area

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Why this score? — see what drove the C- 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 +13.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 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

For the discriminating investor! Located on a large waterfront lot in the village, this well-maintained and upscale 4-unit was constructed in 2014, and features quality finishes throughout, starting with freshly-painted foyer, two 2-BR apartments, a 1BR efficiency, and a 3 BR, 3-bath apartment. Full occupancy, close to Clarkson University, Rochester Regional Health, and SUNY Potsdam. A second building is possible with approved plans. This building is all-electric and each apartment is separately-metered. Three of the units contain stackable washer/dryers, and all appliances are included. A dry basement with high ceilings offers good storage. Plentiful parking available. An opportunity you won't want to miss!

Key facts

• 10 parking spots
• Built 2014
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/?-bath units multifamily listed at $455k.

Deal economics

• At list price, monthly cash flow is $9 ($108/yr) — positive. Per door: $2/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $453k (0.4% below list).
• Recommended offer: $428k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#249 in NY, #3,908 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime F, commute F, employment F.
• Potsdam Central School District (town): math 53% / reading 66% proficiency, ranked #258 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lawrence Avenue Elementary School (math 72% / reading 72%, grade A-, #378 of 2,108 statewide, top 20%, 551 students, 39% FRL); A A Kingston Middle School (math 27% / reading 54%, grade F, #409 of 729 statewide, top 56%, 368 students, 40% FRL); Potsdam Senior High School (math 92% / reading 92%, grade A+, #171 of 1,100 statewide, top 18%, 372 students, 37% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 118 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 $49k of equity ($3k loan paydown + $46k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $127k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$78k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($428k) is reasonable based on typical stale-listing flexibility.
• 4 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 $35k; list at $455k implies a 1200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $427,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.00% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.08%
• DSCR: 1.00
• GRM: 8.4

CMA / ARV

• ARV (median comp): $274,067
• List price: $455,000
• Delta: 66.02%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Pierrepont Ave	0.74mi	4/3.5 (-1)	2,550 (-14%)	10mo	$210,000	$82	27

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

Projected returns pro-forma

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

5-year hold

• IRR: 24.4%
• Equity multiple: 2.95×
• Total profit: $248,711
• Equity at exit: $409,900

10-year hold

• IRR: 21.6%
• Equity multiple: 6.75×
• Total profit: $732,619
• Equity at exit: $883,965

Cash invested: $127,400 (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 13676

• Home prices YoY: 17.7%
• Active inventory: 118
• Price-to-rent: 33.5×

Monthly cashflow live

• Estimated rent: $4,533 medium
• Mortgage (P&I): −$2,386
• Tax from tax record: −$996 /mo · $11,957/yr
• Insurance: −$190
• HOA: −$0
• Vacancy / Maint / Mgmt: −$952
• Net cashflow: $9

Break-even live

Break-even rent $4,522

Max offer price $455,000

Occupancy floor 95%

Sensitivity live

Price	-10% $267	-5% $138	+0% $9	+5% $-120	+10% $-249
Rent	-10% $-349	-5% $-170	+0% $9	+5% $188	+10% $367
Rate	-1.0pp $238	-0.5pp $125	base $9	+0.5pp $-109	+1.0pp $-229

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	—	$4,532
Total (4 units)			$4,533

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: $113,750
• Closing costs: $13,650
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $455,000 Active 76 DOM
2. 2026-06-21
   days on market $455,000 Active 75 DOM
3. 2026-06-18
   days on market $455,000 Active 73 DOM
4. 2026-06-17
   days on market $455,000 Active 72 DOM
5. 2026-06-16
   days on market $455,000 Active 71 DOM
6. 2026-06-15
   days on market $455,000 Active 70 DOM
7. 2026-06-13
   days on market $455,000 Active 68 DOM
8. 2026-06-12
   days on market $455,000 Active 67 DOM
9. 2026-06-09
   days on market $455,000 Active 64 DOM
10. 2026-06-09
    price $455,000 Active 63 DOM
11. 2026-06-08
    days on market $465,000 Active 63 DOM
12. 2026-06-07
    days on market $465,000 Active 62 DOM
13. 2026-06-07
    days on market $465,000 Active 61 DOM
14. 2026-06-04
    days on market $465,000 Active 58 DOM
15. 2026-06-02
    days on market $465,000 Active 57 DOM
16. 2026-06-01
    days on market $465,000 Active 56 DOM
17. 2026-05-31
    days on market $465,000 Active 55 DOM
18. 2026-04-06
    price $465,000 718-char remark

    Show marketing remark (718 chars)

    For the discriminating investor! Located on a large waterfront lot in the village, this well-maintained and upscale 4-unit was constructed in 2014, and features quality finishes throughout, starting with freshly-painted foyer, two 2-BR apartments, a 1BR efficiency, and a 3 BR, 3-bath apartment. Full occupancy, close to Clarkson University, Rochester Regional Health, and SUNY Potsdam. A second building is possible with approved plans. This building is all-electric and each apartment is separately-metered. Three of the units contain stackable washer/dryers, and all appliances are included. A dry basement with high ceilings offers good storage. Plentiful parking available. An opportunity you won't want to miss!

19. 2026-04-06
    listed $450,000 Active 718-char remark

    Show marketing remark (718 chars)

    For the discriminating investor! Located on a large waterfront lot in the village, this well-maintained and upscale 4-unit was constructed in 2014, and features quality finishes throughout, starting with freshly-painted foyer, two 2-BR apartments, a 1BR efficiency, and a 3 BR, 3-bath apartment. Full occupancy, close to Clarkson University, Rochester Regional Health, and SUNY Potsdam. A second building is possible with approved plans. This building is all-electric and each apartment is separately-metered. Three of the units contain stackable washer/dryers, and all appliances are included. A dry basement with high ceilings offers good storage. Plentiful parking available. An opportunity you won't want to miss!

20. 2024-06-13
    historical $895
21. 2024-06-13
    historical $895
22. 2024-06-13
    listed $895
23. 2024-06-12
    listed $1,305
24. 2024-03-20
    historical $1,290
25. 2023-12-05
    listed $1,290
26. 2013-08-22
    soldstatus $35,000

ⓘ 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: $11,957 · $996/mo
• Projected year-2 tax: $11,957 · $996/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 66% 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
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,396
• − Mortgage interest: −$25,487
• − Property taxes: −$11,957
• − Insurance: −$2,275
• − Repairs & maintenance: −$4,352
• − Management: −$4,352
• − Depreciation: −$13,236
• Taxable loss: −$7,263
• Est. tax savings @ 24.0%: +$1,743
• After-tax cash flow: $1,851/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: Potsdam Central School District
• NCES district ID: 3623670
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 66% ▲ 12.00%
• Median HH income: $44,144
• Composite: 50.05/100
• National rank: #1915
• State rank: #258 of 590 in NY

Livability — Potsdam

• Score: 75/100
• State rank: #249
• US rank: #3908

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Potsdam, NY
• City population: 2,123
• Population (ZIP): 13,408

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Asian 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% 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: ▲ 48.01%
• Current HPI: 318.7704
• 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

+1228.6% since first listed

9 events — show timeline

• 2026-04-06 Price Changed $465,000 SLCMLS
• 2026-04-06 Listed $450,000 SLCMLS
• 2024-06-13 Rental Removed $895 RENTEC
• 2024-06-13 Rental Removed $895 RENTEC
• 2024-06-13 Listed for Rent $895 RENTEC
• 2024-06-12 Listed for Rent $1,305 RENTEC
• 2024-03-20 Rental Removed $1,290 RENTEC
• 2023-12-05 Listed for Rent $1,290 RENTEC
• 2013-08-22 Sold (Public Records) $35,000 Public Records

Property tax history

+17.8%/yr

Latest (2025): $11,957 · -4.8% YoY. Source: county tax records.