10 Park St · Norwood, NY 13668

$125,000

5 bd · 2.0 ba · 2,374 sqft · MultiFamily public records · 5 Days on market

Built 1880 7,405 sqft lot Est $121k · at est.

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.8/10.0
• ARV discount +6.0/15.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Great renovated income property in Norwood. Its a very private setting even though its in the village. Live in one and rent the other two, or rent all three. Main floor unit has many upgrades, including an upgraded kitchen and bathroom. The second floor units are very clean and efficient. The exterior siding, roof and back porch are new. Unit one is a two bedroom, unit two is a studio and unit three is a one bedroom.

Key facts

• Upgraded bathroom
• Upgraded kitchen
• Private setting

Tags

• RENOVATED INCOME PROPERTY
• PRIVATE SETTING
• UPGRADED KITCHEN
• UPGRADED BATHROOM
• NEW EXTERIOR SIDING
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).

Location & tenants

• Location reads 68/100 on livability (#541 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools D+, amenities 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: 26 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 $5k of equity ($864 loan paydown + $4k appreciation (3.6% 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 (3.6% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $54k; list at $125k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 2.13% ✓
• Cap rate: 16.78%
• Cash-on-cash: 37.45%
• DSCR: 2.67
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $121,074
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Morgan St	0.27mi	5/2.0	2,266 (-4%)	20mo	$115,000	$51	63
49 North Main St	0.28mi	4/3.0 (-1)	2,186 (-8%)	6mo	$75,000	$34	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.9%
• Equity multiple: 3.54×
• Total profit: $88,755
• Equity at exit: $60,466

10-year hold

• IRR: 43.2%
• Equity multiple: 7.11×
• Total profit: $213,830
• Equity at exit: $96,643

Cash invested: $35,000 (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 13668

• Home prices YoY: 1.1%
• Active inventory: 26
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,659 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$301 /mo · $3,610/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $1,092

Break-even live

Break-even rent $1,276

Max offer price $125,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,163	-5% $1,128	+0% $1,092	+5% $1,057	+10% $1,021
Rent	-10% $882	-5% $987	+0% $1,092	+5% $1,197	+10% $1,302
Rate	-1.0pp $1,155	-0.5pp $1,124	base $1,092	+0.5pp $1,060	+1.0pp $1,027

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$922
▸ 2× units	1	1	$1,738
Total (3 units)			$2,659

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-03-31
   status Pending
2. 2026-03-26
   listed $125,000 Active
3. 2024-01-17
   soldstatus $54,000
4. 1995-12-15
   soldstatus $52,500

ⓘ 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: $3,610 · $301/mo
• Projected year-2 tax: $3,610 · $301/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 7/10 Severe 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 16 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: $31,908
• − Mortgage interest: −$7,002
• − Property taxes: −$3,610
• − Insurance: −$625
• − Repairs & maintenance: −$2,553
• − Management: −$2,553
• − Depreciation: −$3,636
• Taxable income: $11,930
• Est. tax owed @ 24.0%: −$2,863
• After-tax cash flow: $10,243/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 — Norwood

• Score: 68/100
• State rank: #541
• US rank: #9728

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwood, NY
• City population: 3,313
• Population (ZIP): 3,313

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 13% Portuguese 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · 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: ▲ 3.60%
• Current HPI: 318.2533
• 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

+138.1% since first listed

4 events — show timeline

• 2026-03-31 Pending — SLCMLS
• 2026-03-26 Listed $125,000 SLCMLS
• 2024-01-17 Sold (Public Records) $54,000 Public Records
• 1995-12-15 Sold (Public Records) $52,500 Public Records

Property tax history

+0.4%/yr

Latest (2025): $3,610 · -10.6% YoY. Source: county tax records.