210 S Rutland St · Watertown, NY 13601

$139,000

3 bd · 1.5 ba · 1,181 sqft · SingleFamily public records · 85 Days on market

Built 1920 2,970 sqft lot $118/sqft · 11% below area Est $157k · 11% 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).

• Cash flow +19.0/30.0
• ARV discount +12.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Rent growth +5.0/5.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits in this 3-bedroom, 1.5-bath two-story home in Watertown! Offering a functional layout with spacious living areas and great potential, this property is ideal for investors or buyers looking to put their personal touch on a home. Conveniently located near local amenities, shopping, and Fort Drum. Being sold as-is—bring your vision and make it your own!

Key facts

• 2,970 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 14 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,659 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.01% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.46%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $156,567
• List price: $139,000
• Delta: -11.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
443 Flower Ave E	0.10mi	3/1.0	1,270 (+8%)	7mo	$210,000	$165	75
1 Academy Pl	0.36mi	3/1.5	1,244 (+5%)	2mo	$85,000	$68	73
607 S Hamilton St	0.41mi	3/1.5	1,142 (-3%)	4mo	$179,900	$158	72
1105 Salina St	0.32mi	3/1.5	1,248 (+6%)	6mo	$220,681	$177	70
603 Emerson St	0.31mi	3/1.0	1,100 (-7%)	8mo	$128,000	$116	66
405 Brainard St	0.29mi	3/1.0	1,308 (+11%)	4mo	$146,000	$112	64
415 Thompson Blvd	0.46mi	3/1.0	1,240 (+5%)	6mo	$185,000	$149	64
236 Colorado Ave	0.64mi	3/1.0	1,252 (+6%)	2mo	$210,000	$168	57
384 Broadway Ave W	0.37mi	3/1.5	1,339 (+13%)	6mo	$235,000	$176	55
643 S Hamilton St	0.48mi	3/1.0	1,335 (+13%)	1mo	$261,700	$196	53
1214 Academy St	0.47mi	3/1.0	1,344 (+14%)	6mo	$261,000	$194	48
127 Wyoming Ave	0.61mi	3/1.0	1,344 (+14%)	6mo	$150,000	$112	42

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: -3.8%
• Equity multiple: 0.85×
• Total profit: $-5,882
• Equity at exit: $20,725

10-year hold

• IRR: 10.9%
• Equity multiple: 2.04×
• Total profit: $40,535
• Equity at exit: $12,018

Cash invested: $38,920 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,401 high
• Mortgage (P&I): −$729
• Tax from tax record: −$175 /mo · $2,104/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $145

Break-even live

Break-even rent $1,218

Max offer price $139,000

Occupancy floor 85%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
816 Boyd St Unit 1 Watertown, NY	2.0	1.0	980	$1,500	$1.53	43d	1	0.05mi
911 State St Unit 3 Watertown, NY	3.0	1.0	1200	$995	$0.83	43d	1	0.18mi
927 State St Watertown, NY	2.0	1.0	900	$1,000	$1.11	43d	1	0.19mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	43d	1	0.23mi
720 Cadwell St Watertown, NY	2.0	1.5	1300	$995	$0.77	43d	1	0.29mi
1029 Gill St Watertown, NY	3.0	1.0	1275	$1,950	$1.53	43d	1	0.41mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	43d	1	0.43mi
311 High St Watertown, NY	2.0	1.0	851	$1,200	$1.41	43d	1	0.46mi
256 Michigan Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,440	$1.00	43d	9	0.74mi
159 Mullin St Unit 2 Watertown, NY	2.0	1.0	900	$1,200	$1.33	43d	1	0.77mi
109 Spring Ave Watertown, NY	2.0	1.0	1344	$1,200	$0.89	43d	1	0.84mi
611 Cooper St Watertown, NY	3.0	1.0	1190	$1,495	$1.26	43d	1	0.92mi
1815 Olmstead Dr Watertown, NY	2.0–4.0	1.0–2.0	1380	$1,462	$1.06	43d	6	1.14mi
136 N Meadow St Unit A Watertown, NY	2.0	1.0	1000	$995	$0.99	43d	1	1.15mi

Listing history 26 events

1. 2026-06-19
   days on market $139,000 Active 85 DOM
2. 2026-06-18
   days on market $139,000 Active 84 DOM
3. 2026-06-17
   days on market $139,000 Active 83 DOM
4. 2026-06-16
   days on market $139,000 Active 82 DOM
5. 2026-06-15
   days on market $139,000 Active 81 DOM
6. 2026-06-14
   days on market $139,000 Active 79 DOM
7. 2026-06-12
   days on market $139,000 Active 78 DOM
8. 2026-06-09
   days on market $139,000 Active 75 DOM
9. 2026-06-08
   days on market $139,000 Active 74 DOM
10. 2026-06-07
    days on market $139,000 Active 73 DOM
11. 2026-06-05
    days on market $139,000 Active 70 DOM
12. 2026-06-03
    days on market $139,000 Active 69 DOM
13. 2026-06-02
    days on market $139,000 Active 68 DOM
14. 2026-06-01
    days on market $139,000 Active 67 DOM
15. 2026-05-31
    days on market $139,000 Active 66 DOM
16. 2026-05-30
    days on market $139,000 Active 65 DOM
17. 2026-03-26
    listed $139,000 Active 377-char remark

    Show marketing remark (377 chars)

    Opportunity awaits in this 3-bedroom, 1.5-bath two-story home in Watertown! Offering a functional layout with spacious living areas and great potential, this property is ideal for investors or buyers looking to put their personal touch on a home. Conveniently located near local amenities, shopping, and Fort Drum. Being sold as-is—bring your vision and make it your own!

18. 2020-12-21
    soldstatus $134,000
19. 2020-12-17
    soldstatus $134,000 470-char remark

    Show marketing remark (470 chars)

    Wow! This is a remodeled home that needs nothing. The home boasts hard wood floors throughout. Walk into your kitchen with butcher block counter tops and all appliances. Then walk into your living room, dining room open concept space with plenty of space. You also have your own garage and a nice shed with a totally fenced in yard. Walk upstairs to 3 bedrooms and full sized bath - and you have it all. Oh, did I mention a great 3 season porch! This one will not last!

20. 2020-08-11
    listed $134,000 470-char remark

    Show marketing remark (470 chars)

    Wow! This is a remodeled home that needs nothing. The home boasts hard wood floors throughout. Walk into your kitchen with butcher block counter tops and all appliances. Then walk into your living room, dining room open concept space with plenty of space. You also have your own garage and a nice shed with a totally fenced in yard. Walk upstairs to 3 bedrooms and full sized bath - and you have it all. Oh, did I mention a great 3 season porch! This one will not last!

21. 2015-10-26
    soldstatus $125,000
22. 2014-07-31
    listed $124,900
23. 2007-05-14
    soldstatus $121,370
24. 2007-05-14
    soldstatus $121,370
25. 2007-03-24
    listed $115,000
26. 2004-12-08
    soldstatus $88,800

ⓘ 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: $2,104 · $175/mo
• Projected year-2 tax: $2,227 · $186/mo
• Expected delta: +$123/yr (+$10/mo · 5.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,813
• − Mortgage interest: −$7,786
• − Property taxes: −$2,104
• − Insurance: −$695
• − Repairs & maintenance: −$1,345
• − Management: −$1,345
• − Depreciation: −$4,044
• Taxable loss: −$506
• Est. tax savings @ 24.0%: +$121
• After-tax cash flow: $1,858/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

+56.5% since first listed

10 events — show timeline

• 2026-03-26 Listed $139,000 CNYIS
• 2020-12-21 Sold (Public Records) $134,000 Public Records
• 2020-12-17 Sold (MLS) $134,000 CNYIS
• 2020-08-11 Listed $134,000 CNYIS
• 2015-10-26 Sold (MLS) $125,000 CNYIS
• 2014-07-31 Listed $124,900 CNYIS
• 2007-05-14 Sold (Public Records) $121,370 Public Records
• 2007-05-14 Sold (MLS) $121,370 CNYIS
• 2007-03-24 Listed $115,000 CNYIS
• 2004-12-08 Sold (Public Records) $88,800 Public Records

Property tax history

+27.2%/yr

Latest (2025): $2,104 · +2.0% YoY. Source: county tax records.