858 County Route 38 · Norfolk, NY 13667

$145,500

4 bd · 2.0 ba · 1,924 sqft · SingleFamily public records · 6 Days on market

Built 1880 1.10 ac lot $76/sqft · 39% below area Est $237k · 39% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.3/30.0
• Appreciation +4.9/10.0
• DSCR +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home will be THE go-to home for all the holidays and gatherings! So much space to enjoy for everyone. .. inside and out. .The Butternut cabinets crafted by From The Heart Cabinetry in the kitchen are so pretty and well made. The appliances are upgraded, refrigerator, double oven, dishwasher, microwave. The kitchen is in a L shape, giving you plenty of space to add an office area at one end or a play room to watch over the little ones as you are working. The large laundry room/mudroom with ample storage is on the first floor, convenient to the kitchen. The owners say the pellet stove keeps the house cozy in the colder weather and cost is minimal. Another bonus is the bedroom on the first floor for guests/ family to have privacy while they stay, with a full bath next door. Upstairs the bedrooms are unique with inch boards of cedar on accent walls. This is great country living!

Key facts

• Hardwood flooring
• Quartz countertops
• Stone backsplash

Tags

• ENCLOSED PORCH
• HARDWOOD FLOORING
• UPDATED KITCHEN
• STONE BACKSPLASH
• SOLID WOOD BUTTERNUT CABINETRY
• QUARTZ COUNTERTOPS

Property features AI

Exterior

• Utilities: Private well water
• Home design: Residential property; 2 stories
• Construction: Vinyl siding; Metal roof; Partial basement (crawl space)
• Exterior features: Deck; Porch; Corner lot

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Refrigerator
• Flooring: Hardwood; Laminate; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (propane); Ceiling fan(s)
• Interior features: Breakfast bar; Walk-in closet(s); Crawl space/partial basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $146k.

Deal economics

• At list price, monthly cash flow is $27 ($320/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 $134k (7.9% below list).
• Recommended offer: $134k (7.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#737 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D, crime F.
• Norwood-Norfolk Central School District (rural): math 30% / reading 36% proficiency, ranked #568 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 30 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 $747 of equity ($1k loan paydown + $-259 appreciation (-0.2% local appreciation)).
• St. Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $100k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,025 (7.9% below list)

Questions for the listing agent

1. Built in 1880 — 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: 0.92% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.03
• GRM: 9.0

CMA / ARV

• ARV (median comp): $237,500
• List price: $145,500
• Delta: -38.74%
• Verdict: UNDERPRICED
• Comps: 13 within 2.0 mi

Projected returns pro-forma

-0.18% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.91×
• Total profit: $-3,735
• Equity at exit: $40,957

10-year hold

• IRR: 3.9%
• Equity multiple: 1.41×
• Total profit: $16,811
• Equity at exit: $48,213

Cash invested: $40,740 (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 13667

• Home prices YoY: -0.1%
• Active inventory: 30
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,340 medium
• Mortgage (P&I): −$763
• Tax from tax record: −$208 /mo · $2,502/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $27

Break-even live

Break-even rent $1,306

Max offer price $145,500

Occupancy floor 93%

Sensitivity live

Price	-10% $109	-5% $68	+0% $27	+5% $-15	+10% $-56
Rent	-10% $-79	-5% $-26	+0% $27	+5% $80	+10% $133
Rate	-1.0pp $100	-0.5pp $64	base $27	+0.5pp $-11	+1.0pp $-49

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: $36,375
• Closing costs: $4,365
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-19
   status Pending 1464-char remark
2. 2026-05-12
   listed $145,500 Active 1464-char remark
3. 2019-04-01
   soldstatus $100,000
4. 2019-03-29
   soldstatus $100,000 894-char remark

   Show marketing remark (894 chars)

   This home will be THE go-to home for all the holidays and gatherings! So much space to enjoy for everyone. .. inside and out. .The Butternut cabinets crafted by From The Heart Cabinetry in the kitchen are so pretty and well made. The appliances are upgraded, refrigerator, double oven, dishwasher, microwave. The kitchen is in a L shape, giving you plenty of space to add an office area at one end or a play room to watch over the little ones as you are working. The large laundry room/mudroom with ample storage is on the first floor, convenient to the kitchen. The owners say the pellet stove keeps the house cozy in the colder weather and cost is minimal. Another bonus is the bedroom on the first floor for guests/ family to have privacy while they stay, with a full bath next door. Upstairs the bedrooms are unique with inch boards of cedar on accent walls. This is great country living!

5. 2018-08-20
   listed $112,000 894-char remark

   Show marketing remark (894 chars)

   This home will be THE go-to home for all the holidays and gatherings! So much space to enjoy for everyone. .. inside and out. .The Butternut cabinets crafted by From The Heart Cabinetry in the kitchen are so pretty and well made. The appliances are upgraded, refrigerator, double oven, dishwasher, microwave. The kitchen is in a L shape, giving you plenty of space to add an office area at one end or a play room to watch over the little ones as you are working. The large laundry room/mudroom with ample storage is on the first floor, convenient to the kitchen. The owners say the pellet stove keeps the house cozy in the colder weather and cost is minimal. Another bonus is the bedroom on the first floor for guests/ family to have privacy while they stay, with a full bath next door. Upstairs the bedrooms are unique with inch boards of cedar on accent walls. This is great country living!

ⓘ 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: $2,502 · $208/mo
• Projected year-2 tax: $2,502 · $208/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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°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: $16,083
• − Mortgage interest: −$8,150
• − Property taxes: −$2,502
• − Insurance: −$728
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$4,233
• Taxable loss: −$2,103
• Est. tax savings @ 24.0%: +$505
• After-tax cash flow: $825/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: Norwood-Norfolk Central School District
• NCES district ID: 3621360
• Math proficiency: 30% ▼ -8.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $43,492
• Composite: 28.05/100
• National rank: #6841
• State rank: #568 of 590 in NY

Livability — Norfolk

• Score: 64/100
• State rank: #737
• US rank: #14031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,460

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Native American 2%
• Common ancestry: Lithuanian 12% Serbian 3% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · German/W. Germanic 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: ▼ -0.18%
• Current HPI: 268.2319
• 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

+29.9% since first listed

5 events — show timeline

• 2026-05-19 Pending — SLCMLS
• 2026-05-12 Listed $145,500 SLCMLS
• 2019-04-01 Sold (Public Records) $100,000 Public Records
• 2019-03-29 Sold (MLS) $100,000 SLCMLS
• 2018-08-20 Listed $112,000 SLCMLS

Property tax history

+1.9%/yr

Latest (2025): $2,502 · -3.2% YoY. Source: county tax records.