910 Franklin St · Watertown, NY 13601

$199,900

4 bd · 1.5 ba · 1,684 sqft · SingleFamily public records · 11 Days on market

Built 1900 6,198 sqft lot Est $251k · 20% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• Rent growth +5.0/5.0
• DSCR +4.2/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this wonderfully well-cared-for 4-bedroom, 1.5-bath home that offers the perfect blend of comfort, character, and opportunity! The spacious eat-in kitchen provides plenty of room for everyday meals, while the formal dining room is ready for holiday gatherings and special occasions. A bright and inviting living room offers a comfortable place to relax, and the cozy sitting room with a gas fireplace is sure to become a favorite spot on chilly evenings. Convenience abounds with a first-floor laundry area and half bath. Step outside to enjoy the lovely back deck overlooking the backyard—perfect for morning coffee, summer barbecues, or simply unwinding after a long day. A d

Key facts

• Formal dining room
• Living room
• Gas fireplace

Tags

• EAT-IN KITCHEN
• FORMAL DINING ROOM
• LIVING ROOM
• SITTING ROOM
• GAS FIREPLACE
• FIRST-FLOOR LAUNDRY

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story house; Existing construction; Vinyl siding; Stone foundation
• Construction: Vinyl siding exterior; Stone foundation
• Exterior features: Blacktop driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 50 x 124

Interior

• Kitchen: Dishwasher; Free-standing range; Microwave; Oven; Refrigerator; Freezer; Eat-in kitchen
• Bedrooms: Total rooms: 9
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Separate/formal dining room; Entrance foyer; Eat-in kitchen; Separate/formal living room; Full basement
• Laundry & utility: Main-level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $26 ($307/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (17.6% below list).
• Recommended offer: $165k (17.6% below list) — sets the bar for 1% rule.

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-, crime F, commute 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.
• Zoned schools: Knickerbocker School (math 32% / reading 47%, grade F, #1,444 of 2,108 statewide, top 71%, 364 students, 71% FRL); Case Middle School (math 17% / reading 41%, grade F, #566 of 729 statewide, top 78%, 626 students, 70% FRL); Watertown Senior High School (math 89% / reading 92%, grade A+, #231 of 1,100 statewide, top 21%, 1,083 students, 65% FRL) — zoned schools average 69% FRL vs 49% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.0%/yr); 224 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d 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).
• This rent runs 34% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,792 (17.6% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.82% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.55%
• DSCR: 1.02
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $250,916
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
380 Brainard St	0.09mi	4/1.5	1,664 (-1%)	1mo	$268,000	$161	93
409 Broadway Ave E	0.04mi	3/2.0 (-1)	1,760 (+4%)	1mo	$262,000	$149	83
711 Cadwell St	0.13mi	4/1.5	1,870 (+11%)	1mo	$239,900	$128	74
1157 Harrison St	0.39mi	4/2.5	1,664 (-1%)	2mo	$240,000	$144	74
1130 Boyd St	0.41mi	3/2.0 (-1)	1,710 (+2%)	1mo	$216,025	$126	71
1013 Myrtle Ave	0.50mi	4/2.0	1,624 (-4%)	2mo	$275,000	$169	67
244 N Rutland St	0.62mi	4/2.5	1,693 (+0%)	1mo	$233,200	$138	66
1017 Myrtle Ave	0.50mi	3/2.0 (-1)	1,608 (-4%)	2mo	$252,500	$157	60
662 Burchard St	0.68mi	3/2.0 (-1)	1,668 (-1%)	2mo	$140,000	$84	58
1151 Harrison St	0.38mi	3/2.5 (-1)	1,871 (+11%)	0mo	$300,000	$160	54
523 Emerson St	0.58mi	4/1.0	1,498 (-11%)	1mo	$47,100	$31	52
205 Michigan Ave	0.66mi	4/2.0	1,848 (+10%)	2mo	$280,000	$152	49

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: -10.4%
• Equity multiple: 0.61×
• Total profit: $-22,092
• Equity at exit: $29,806

10-year hold

• IRR: 4.5%
• Equity multiple: 1.40×
• Total profit: $22,339
• Equity at exit: $17,284

Cash invested: $55,972 (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: 224
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,648 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$145 /mo · $1,736/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $26

Break-even live

Break-even rent $1,615

Max offer price $199,900

Occupancy floor 93%

Sensitivity live

Price	-10% $139	-5% $82	+0% $26	+5% $-31	+10% $-88
Rent	-10% $-105	-5% $-39	+0% $26	+5% $91	+10% $156
Rate	-1.0pp $126	-0.5pp $76	base $26	+0.5pp $-26	+1.0pp $-79

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 Academy St Watertown, NY	3.0	2.0	1652	$1,600	$0.97	45d	1	0.32mi
911 State St Unit 3 Watertown, NY	3.0	1.0	1200	$995	$0.83	45d	1	0.42mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	45d	1	0.50mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	45d	1	0.52mi
1029 Gill St Watertown, NY	3.0	1.0	1275	$1,950	$1.53	45d	1	0.65mi
256 Michigan Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,626	$1.13	45d	9	0.93mi
1815 Olmstead Dr Watertown, NY	2.0–4.0	1.0–2.0	1380	$1,676	$1.21	45d	6	1.13mi
611 Cooper St Watertown, NY	3.0	1.0	1190	$1,495	$1.26	45d	1	1.16mi
377 W Main St Unit 1 Watertown, NY	3.0	1.0	1991	$1,350	$0.68	45d	1	1.20mi
2240 Kristina Park Watertown, NY	1.0–3.0	1.0–2.0	1072	$1,615	$1.51	45d	5	1.34mi

Listing history 9 events

1. 2026-06-21
   days on market $199,900 Active 11 DOM
2. 2026-06-19
   days on market $199,900 Active 9 DOM
3. 2026-06-18
   days on market $199,900 Active 8 DOM
4. 2026-06-17
   days on market $199,900 Active 7 DOM
5. 2026-06-16
   days on market $199,900 Active 6 DOM
6. 2026-06-15
   days on market $199,900 Active 5 DOM
7. 2026-06-14
   days on market $199,900 Active 3 DOM
8. 2026-06-12
   remarks 693-char remark
9. 2026-06-12
   listed $199,900 Active 2 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: $1,736 · $145/mo
• Projected year-2 tax: $2,557 · $213/mo
• Expected delta: +$821/yr (+$68/mo · 47.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 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: $19,775
• − Mortgage interest: −$11,198
• − Property taxes: −$1,736
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$5,815
• Taxable loss: −$3,137
• Est. tax savings @ 24.0%: +$753
• After-tax cash flow: $1,060/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

1 event — show timeline

• 2026-06-09 Listed $199,900 CNYIS

Property tax history

+15.3%/yr

Latest (2025): $1,736 · +4.6% YoY. Source: county tax records.