125 N Hamilton St · Watertown, NY 13601

$249,900

4 bd · 2.0 ba · 1,792 sqft · MultiFamily public records · 6 Days on market

Built 1900 0.29 ac lot

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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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Rent growth +5.0/5.0
• 1% rule +4.6/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Recently renovated Duplex from top to bottom- located in Watertown NY. Each unit features fresh, modern updates including stunning white cabinetry, stainless steel appliances, laminate flooring and convenient laundry hookups for in unit washing and drying. With a clean, contemporary design and spacious layout this property is ideal for owner occupant, investors or tenants seeking comfort and style. Enjoy the benefits of a fully updated interior, off street parking and a central location close to local shops, schools and amenities. Move-in ready and full of potential-this is Watertown living at its finest. More photos coming soon, interior remodel is almost finished!! Contact your agent for a showing today!

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Financial info: Owner pays water for rentals; Rent includes water; Operating expenses include professional management

Exterior

• Parking: Paved parking; Attached garage with 2 garage spaces
• Utilities: Public water connected; Sewer connected; Cable available
• Home design: Two-story building; Existing/resale property
• Construction: Vinyl siding exterior
• Exterior features: Rectangular residential lot with approximately 63 x 198 dimensions; City street frontage; Lot size about 0.2864 acres

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Two-unit property (bedroom counts per unit not provided)
• Flooring: Carpet; Tile; Vinyl; Varied flooring
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Carpet, tile, vinyl, and varied flooring throughout
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive. Per door: $166/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 $239k (4.5% below list).
• Recommended offer: $239k (4.5% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 6.2% in Watertown — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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-, schools D, crime 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.
• Market conditions: Rents rising fast (+10.0%/yr); 223 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• At $2,387/mo this rent would consume 49% of the median local household income ($59k/yr) (locally 1634% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 14y 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 $194k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $238,700 (4.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.96% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.71%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $137,984
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 S Hamilton St	0.20mi	5/2.0 (+1)	1,780 (-1%)	6mo	$167,500	$94	80
810 Boyd St	0.19mi	5/2.0 (+1)	1,934 (+8%)	1mo	$179,900	$93	72
119 State Pl	0.27mi	4/2.0	1,848 (+3%)	16mo	$38,500	$21	69
306 N Rutland St	0.25mi	3/2.0 (-1)	1,610 (-10%)	0mo	$121,600	$76	66
203 Mechanic St	0.48mi	4/2.0	1,718 (-4%)	9mo	$120,000	$70	63
314 Central St	0.25mi	3/2.5 (-1)	1,616 (-10%)	6mo	$100,000	$62	60
911 Salina St	0.29mi	4/2.0	1,660 (-7%)	24mo	$72,000	$43	54
356 N Colorado Ave	0.51mi	3/2.0 (-1)	1,665 (-7%)	6mo	$149,900	$90	54
678 Bronson St	0.24mi	4/2.0	1,601 (-11%)	20mo	$169,900	$106	54
636 Gotham St	0.72mi	3/2.0 (-1)	1,979 (+10%)	18mo	$152,000	$77	29

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: -2.4%
• Equity multiple: 0.90×
• Total profit: $-6,746
• Equity at exit: $37,261

10-year hold

• IRR: 11.8%
• Equity multiple: 2.12×
• Total profit: $78,557
• Equity at exit: $21,607

Cash invested: $69,972 (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: 223
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $2,387 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$138 /mo · $1,658/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $333

Break-even live

Break-even rent $1,966

Max offer price $249,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,388
Total (2 units)			$2,387

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1029 Gill St Watertown, NY	3.0	1.0	1275	$1,950	$1.53	43d	1	0.17mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	43d	1	0.27mi
621 Academy St Watertown, NY	3.0	2.0	1652	$1,600	$0.97	43d	1	0.34mi
256 Michigan Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,626	$1.13	43d	9	0.51mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	43d	1	0.63mi
128 Park Ave Watertown, NY	3.0	2.0	2300	$2,400	$1.04	43d	1	0.92mi
1815 Olmstead Dr Watertown, NY	2.0–4.0	1.0–2.0	1380	$1,676	$1.21	43d	6	1.02mi
377 W Main St Unit 1 Watertown, NY	3.0	1.0	1991	$1,350	$0.68	43d	1	1.07mi
156 N Meadow St Watertown, NY	4.0	1.0	2535	$1,500	$0.59	43d	1	1.28mi

Listing history 7 events

1. 2026-06-19
   days on market $249,900 Active 6 DOM
2. 2026-06-18
   days on market $249,900 Active 5 DOM
3. 2026-06-17
   days on market $249,900 Active 4 DOM
4. 2026-06-16
   days on market $249,900 Active 3 DOM
5. 2026-06-15
   days on market $249,900 Active 2 DOM
6. 2026-06-14
   remarks 699-char remark
7. 2026-06-14
   listed $249,900 Active 1 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: $1,658 · $138/mo
• Projected year-2 tax: $2,941 · $245/mo
• Expected delta: +$1,283/yr (+$107/mo · 77.4%)

ⓘ 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: $28,644
• − Mortgage interest: −$13,998
• − Property taxes: −$1,658
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,292
• − Management: −$2,292
• − Depreciation: −$7,270
• Taxable loss: −$115
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $4,023/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

+160.3% since first listed

16 events — show timeline

• 2026-06-13 Listed $249,900 CNYIS
• 2025-10-16 Sold (Public Records) $194,250 Public Records
• 2025-07-17 Sold (MLS) $194,250 CNYIS
• 2025-04-30 Listed — CNYIS
• 2025-04-29 Listed $194,000 CNYIS
• 2024-01-16 Listing Removed — CNYIS
• 2023-12-17 Listing Removed — CNYIS
• 2023-10-02 Listed $149,900 CNYIS
• 2020-08-31 Sold (Public Records) $125,000 Public Records
• 2020-08-24 Sold (MLS) $125,000 CNYIS
• 2020-05-29 Listed $139,900 CNYIS
• 2019-04-09 Listing Removed — CNYIS
• 2018-06-22 Listed $104,900 CNYIS
• 2012-05-16 Sold (Public Records) $96,000 Public Records
• 2012-05-15 Sold (MLS) $96,000 CNYIS
• 2012-01-24 Listed $750 CNYIS

Property tax history

+26.4%/yr

Latest (2025): $1,658 · +3.9% YoY. Source: county tax records.