98 Main St · Potsdam, NY 13676

$179,000

7 bd · 2.0 ba · 2,763 sqft · MultiFamily public records · 516 Days on market

Built 1900 $65/sqft · 50% below area Est $314k · 43% under

---

Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +5.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This spacious 6-bedroom, 2-bathroom home offers incredible potential for a large residence or the option to rent it as a duplex. With 2,425 square feet of living space and hardwood floors throughout, this property combines charm and functionality. The charm does not end with the floors - you’ll also find an upstairs sunroom, a double bedroom, large closets, a vast living room, a laundry room, and more. The flexible layout includes two separate entrances, two kitchens, and two furnaces, making it simple to use as a duplex. Plus, the large bedrooms provide ample space for comfort and privacy. Outside, you'll find a two-car garage and a convenient U-shaped paved driveway that provides plenty of parking and easy access. Whether you're seeking a spacious family residence or an investment opportunity, this property is ready to fulfill your vision. Schedule your viewing today to discover all this property has to offer!

Key facts

• Upstairs sunroom
• Laundry room
• Double bedroom

Tags

• UPSTAIRS SUNROOM
• DOUBLE BEDROOM
• LARGE CLOSETS
• VAST LIVING ROOM
• LAUNDRY ROOM
• TWO SEPARATE ENTRANCES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive. Per door: $375/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 4.9% in Potsdam — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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.
• Market conditions: 117 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 $19k of equity ($1k loan paydown + $18k 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 $50k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 516 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $70k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 516 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.62% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.97%
• DSCR: 1.80
• GRM: 5.1

CMA / ARV

• ARV (median comp): $313,941
• List price: $179,000
• Delta: -42.98%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
89 Market St	0.75mi	6/4.5 (-1)	2,358 (-15%)	16mo	$210,000	$89	12

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: 37.7%
• Equity multiple: 3.90×
• Total profit: $145,509
• Equity at exit: $161,257

10-year hold

• IRR: 32.5%
• Equity multiple: 8.81×
• Total profit: $391,377
• Equity at exit: $347,758

Cash invested: $50,120 (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: 117
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$527 /mo · $6,328/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $750

Break-even live

Break-even rent $1,950

Max offer price $179,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,900
Total (2 units)			$2,900

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-31
   days on market $179,000 Active 516 DOM
2. 2026-03-04
   price $179,000 931-char remark

   Show marketing remark (931 chars)

   This spacious 6-bedroom, 2-bathroom home offers incredible potential for a large residence or the option to rent it as a duplex. With 2,425 square feet of living space and hardwood floors throughout, this property combines charm and functionality. The charm does not end with the floors - you’ll also find an upstairs sunroom, a double bedroom, large closets, a vast living room, a laundry room, and more. The flexible layout includes two separate entrances, two kitchens, and two furnaces, making it simple to use as a duplex. Plus, the large bedrooms provide ample space for comfort and privacy. Outside, you'll find a two-car garage and a convenient U-shaped paved driveway that provides plenty of parking and easy access. Whether you're seeking a spacious family residence or an investment opportunity, this property is ready to fulfill your vision. Schedule your viewing today to discover all this property has to offer!

3. 2025-10-14
   price $205,000 931-char remark

   Show marketing remark (931 chars)

   This spacious 6-bedroom, 2-bathroom home offers incredible potential for a large residence or the option to rent it as a duplex. With 2,425 square feet of living space and hardwood floors throughout, this property combines charm and functionality. The charm does not end with the floors - you’ll also find an upstairs sunroom, a double bedroom, large closets, a vast living room, a laundry room, and more. The flexible layout includes two separate entrances, two kitchens, and two furnaces, making it simple to use as a duplex. Plus, the large bedrooms provide ample space for comfort and privacy. Outside, you'll find a two-car garage and a convenient U-shaped paved driveway that provides plenty of parking and easy access. Whether you're seeking a spacious family residence or an investment opportunity, this property is ready to fulfill your vision. Schedule your viewing today to discover all this property has to offer!

4. 2025-05-01
   price $235,000 931-char remark

   Show marketing remark (931 chars)

   This spacious 6-bedroom, 2-bathroom home offers incredible potential for a large residence or the option to rent it as a duplex. With 2,425 square feet of living space and hardwood floors throughout, this property combines charm and functionality. The charm does not end with the floors - you’ll also find an upstairs sunroom, a double bedroom, large closets, a vast living room, a laundry room, and more. The flexible layout includes two separate entrances, two kitchens, and two furnaces, making it simple to use as a duplex. Plus, the large bedrooms provide ample space for comfort and privacy. Outside, you'll find a two-car garage and a convenient U-shaped paved driveway that provides plenty of parking and easy access. Whether you're seeking a spacious family residence or an investment opportunity, this property is ready to fulfill your vision. Schedule your viewing today to discover all this property has to offer!

5. 2024-12-31
   listed $249,000 Active 931-char remark

   Show marketing remark (931 chars)

   This spacious 6-bedroom, 2-bathroom home offers incredible potential for a large residence or the option to rent it as a duplex. With 2,425 square feet of living space and hardwood floors throughout, this property combines charm and functionality. The charm does not end with the floors - you’ll also find an upstairs sunroom, a double bedroom, large closets, a vast living room, a laundry room, and more. The flexible layout includes two separate entrances, two kitchens, and two furnaces, making it simple to use as a duplex. Plus, the large bedrooms provide ample space for comfort and privacy. Outside, you'll find a two-car garage and a convenient U-shaped paved driveway that provides plenty of parking and easy access. Whether you're seeking a spacious family residence or an investment opportunity, this property is ready to fulfill your vision. Schedule your viewing today to discover all this property has to offer!

6. 2018-02-08
   soldstatus $135,000 196-char remark

   Show marketing remark (196 chars)

   Great 2 family home that was once a one family. This home has great rental income with 7 bedroom. s total. Beautiful hardwood floors are throughout the home. 2 car detached garage on a corner lot.

7. 2017-08-18
   listed $139,000 196-char remark

   Show marketing remark (196 chars)

   Great 2 family home that was once a one family. This home has great rental income with 7 bedroom. s total. Beautiful hardwood floors are throughout the home. 2 car detached garage on a corner lot.

8. 2010-08-30
   soldstatus $80,000

ⓘ 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: $6,328 · $527/mo
• Projected year-2 tax: $6,328 · $527/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 1/10 Low FEMA zone X · 0% 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: $34,800
• − Mortgage interest: −$10,027
• − Property taxes: −$6,328
• − Insurance: −$895
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − Depreciation: −$5,207
• Taxable income: $6,775
• Est. tax owed @ 24.0%: −$1,626
• After-tax cash flow: $7,378/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

+123.8% since first listed

7 events — show timeline

• 2026-03-04 Price Changed $179,000 SLCMLS
• 2025-10-14 Price Changed $205,000 SLCMLS
• 2025-05-01 Price Changed $235,000 SLCMLS
• 2024-12-31 Listed $249,000 SLCMLS
• 2018-02-08 Sold (MLS) $135,000 ACVMLS
• 2017-08-18 Listed $139,000 ACVMLS
• 2010-08-30 Sold (Public Records) $80,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $6,328 · +25.1% YoY. Source: county tax records.