6 Depot St · Antwerp, NY 13608

$25,000

6 bd · 3.6 ba · 11,424 sqft · MultiFamily · 282 Days on market

Built 1890 9,737 sqft lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Two rental units and potential for 2 more on the second floor. Priced to sell!!!

Key facts

• 9,737 sq ft lot
• Built 1890
• Listed 281 days

Property features AI

Finance

• Financial info: Building contains 3 rental units (3 separate gas meters and 3 separate electric meters); Operating expense details: see remarks; Tenant responsibility: tenants pay all utilities

Exterior

• Parking: Gravel parking
• Utilities: Public water connected; Sewer connected
• Home design: 3-story multifamily building; Resale property; Wood siding
• Construction: Wood siding construction; Existing structure (previously built)
• Exterior features: Irregular residential lot; Road frontage on a city street and main thoroughfare; Lot dimensions approximately 91 x 107

Interior

• Kitchen: Each 2-bedroom unit includes a dining area with kitchen
• Bedrooms: Three units total: one unit type with unspecified bedrooms (see remarks), and three 2-bedroom units (each with dining area and kitchen)
• Flooring: Carpet; Laminate; Varies by unit
• Bathrooms: Total: 3 full bathrooms and 1 half bathroom in the building; Each 2-bedroom unit includes 1 full bathroom; one unit type lists 1 total bathroom (includes 1 half)
• Heating & cooling: Gas heating (see remarks)
• Interior features: Partial basement; Varied flooring (carpet and laminate)
• Laundry & utility: Water heater included; Tenants pay all utilities

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.2-bath units multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $799/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,064 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Indian River Central School District (rural): math 33% / reading 50% proficiency, ranked #502 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Antwerp Primary School (math 24% / reading 34%, grade F, #1,729 of 2,108 statewide, top 84%, 185 students, 54% FRL); Indian River Middle School (math 26% / reading 50%, grade F, #442 of 729 statewide, top 61%, 672 students, 60% FRL); Indian River High School (math 98% / reading 90%, grade A+, #124 of 1,100 statewide, top 12%, 781 students, 49% FRL) — zoned schools average 55% FRL vs 28% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 54% at this address vs 42% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Indian River Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 19 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $370 of equity ($173 loan paydown + $197 appreciation (0.8% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 282 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $5k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 282 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 1890 — 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. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 13.01% ✓
• Cap rate: 121.32%
• Cash-on-cash: 410.80%
• DSCR: 19.28
• GRM: 0.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 22.84×
• Total profit: $152,879
• Equity at exit: $8,258

10-year hold

• IRR: —
• Equity multiple: 48.75×
• Total profit: $334,226
• Equity at exit: $10,763

Cash invested: $7,000 (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 13608

• Home prices YoY: 0.1%
• Active inventory: 19
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $3,252 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $2,396

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 21%

Sensitivity live

Price	-10% $2,414	-5% $2,405	+0% $2,396	+5% $2,388	+10% $2,379
Rent	-10% $2,139	-5% $2,268	+0% $2,396	+5% $2,525	+10% $2,653
Rate	-1.0pp $2,409	-0.5pp $2,403	base $2,396	+0.5pp $2,390	+1.0pp $2,383

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.2	$3,252
Total (3 units)			$3,252

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $25,000 Active 282 DOM
2. 2026-06-18
   days on market $25,000 Active 281 DOM
3. 2026-06-17
   days on market $25,000 Active 280 DOM
4. 2026-06-16
   days on market $25,000 Active 279 DOM
5. 2026-06-15
   days on market $25,000 Active 278 DOM
6. 2026-06-14
   days on market $25,000 Active 276 DOM
7. 2026-06-12
   days on market $25,000 Active 275 DOM
8. 2026-06-09
   days on market $25,000 Active 272 DOM
9. 2026-06-08
   days on market $25,000 Active 271 DOM
10. 2026-06-07
    days on market $25,000 Active 270 DOM
11. 2026-06-05
    days on market $25,000 Active 267 DOM
12. 2026-06-03
    days on market $25,000 Active 266 DOM
13. 2026-06-02
    days on market $25,000 Active 265 DOM
14. 2026-06-01
    days on market $25,000 Active 264 DOM
15. 2026-05-31
    days on market $25,000 Active 263 DOM
16. 2026-05-30
    days on market $25,000 Active 262 DOM
17. 2026-03-06
    status Active
18. 2026-02-24
    historical Active Under Contract
19. 2025-12-10
    price $25,000
20. 2025-09-10
    listed $30,000 Active
21. 2024-10-17
    historical
22. 2024-10-16
    historical Active Under Contract
23. 2024-08-15
    price $35,000
24. 2024-07-09
    price $39,900
25. 2023-11-22
    price $44,900
26. 2023-09-14
    price $49,900
27. 2023-08-30
    listed $59,900 Active
28. 2019-04-22
    soldstatus $19,900 80-char remark

    Show marketing remark (80 chars)

    Two rental units and potential for 2 more on the second floor. Priced to sell!!!

29. 2018-06-22
    listed $19,900 80-char remark

    Show marketing remark (80 chars)

    Two rental units and potential for 2 more on the second floor. Priced to sell!!!

ⓘ 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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,024
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$3,122
• − Management: −$3,122
• − Depreciation: −$727
• Taxable income: $30,152
• Est. tax owed @ 24.0%: −$7,237
• After-tax cash flow: $21,519/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: Indian River Central School District
• NCES district ID: 3615300
• Math proficiency: 33% ▼ -21.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $45,599
• Composite: 35.25/100
• National rank: #4977
• State rank: #502 of 590 in NY

Livability — Antwerp

• Score: 58/100
• State rank: #1064
• US rank: #21270

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Antwerp, NY
• Population (ZIP): 1,845

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 (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Slovak 5% Iranian 4% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 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: ▲ 0.79%
• Current HPI: 582.0014
• 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

+25.6% since first listed

13 events — show timeline

• 2026-03-06 Relisted — CNYIS
• 2026-02-24 Contingent — CNYIS
• 2025-12-10 Price Changed $25,000 CNYIS
• 2025-09-10 Listed $30,000 CNYIS
• 2024-10-17 Listing Removed — CNYIS
• 2024-10-16 Contingent — CNYIS
• 2024-08-15 Price Changed $35,000 CNYIS
• 2024-07-09 Price Changed $39,900 CNYIS
• 2023-11-22 Price Changed $44,900 CNYIS
• 2023-09-14 Price Changed $49,900 CNYIS
• 2023-08-30 Listed $59,900 CNYIS
• 2019-04-22 Sold (MLS) $19,900 CNYIS
• 2018-06-22 Listed $19,900 CNYIS