620 Mohawk St · Watertown, NY 13601

$132,900

4 bd · 1.5 ba · 1,368 sqft · SingleFamily public records · 46 Days on market

Built 1930 5,978 sqft lot $97/sqft · 30% below area Est $191k · 30% under ↓ 3% since listing

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• 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

Affordable, Spacious Home with Large Fully Fenced Yard – This 4-bedroom, 2 full bathroom home offers a functional layout and great potential. The main level features a large living room, a fully applianced, eat-in kitchen, and convenient first-floor full bathroom with laundry and storage. Upstairs, you’ll find 4 generously sized bedrooms providing ample space for a variety of uses. The property sits on a quiet, dead-end street. .. includes a one-car garage, fully fenced backyard with a patio offering plenty of outdoor space for family, pets and entertaining. Conveniently located, this home provides close proximity to shopping, healthcare facilities, parks, and major routes, w

Key facts

• 5,978 sq ft lot
• Garage
• Built 1930

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water (connected); Sewer connected
• Home design: Two-story house; Existing/Resale property
• Construction: Vinyl siding; Stone foundation
• Exterior features: Blacktop driveway; Near public transit; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 6 total rooms (includes bedroom count within room total)
• Flooring: Carpet; Laminate; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas heating; Hot water heat
• Interior features: Eat-in kitchen; Partial basement
• Laundry & utility: Main-level laundry; Washer

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $133k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $133k).
• Recommended offer: $129k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 6.2% in Watertown — 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 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).
• This rent runs 35% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $919 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 $37k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($129k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,913 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.30% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.41%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (median comp): $191,214
• List price: $132,900
• Delta: -30.50%
• 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
522 Frontenac St	0.11mi	3/1.0 (-1)	1,296 (-5%)	6mo	$142,500	$110	74
857 Superior St	0.06mi	3/1.0 (-1)	1,194 (-13%)	1mo	$175,000	$147	68
509 Plum Ave	0.23mi	4/1.5	1,200 (-12%)	4mo	$102,500	$85	66
823 Morrison St	0.28mi	3/1.0 (-1)	1,300 (-5%)	10mo	$33,500	$26	64
158 Cedar St	0.70mi	3/1.0 (-1)	1,374 (+0%)	1mo	$155,000	$113	59
660 Cooper St	0.69mi	4/1.0	1,417 (+4%)	3mo	$132,900	$94	57
327 W Lynde St	0.61mi	3/2.0 (-1)	1,295 (-5%)	6mo	$232,000	$179	51
137 N Orchard St	0.73mi	3/1.0 (-1)	1,410 (+3%)	7mo	$153,700	$109	48
114 Gale St	0.71mi	3/2.0 (-1)	1,300 (-5%)	6mo	$80,000	$62	47
646 Cooper St	0.71mi	4/1.0	1,519 (+11%)	2mo	$195,000	$128	45
653 Thompson St	0.53mi	3/1.5 (-1)	1,164 (-15%)	3mo	$160,700	$138	43
211 W Lynde St	0.73mi	3/2.0 (-1)	1,554 (+14%)	1mo	$190,000	$122	36

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: 8.1%
• Equity multiple: 1.34×
• Total profit: $12,574
• Equity at exit: $19,816

10-year hold

• IRR: 21.4%
• Equity multiple: 3.28×
• Total profit: $84,817
• Equity at exit: $11,491

Cash invested: $37,212 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,727 high
• Mortgage (P&I): −$697
• Tax from tax record: −$165 /mo · $1,979/yr
• Insurance: −$55
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $391

Break-even live

Break-even rent $1,231

Max offer price $132,900

Occupancy floor 72%

Sensitivity live

Price	-10% $467	-5% $429	+0% $391	+5% $354	+10% $316
Rent	-10% $255	-5% $323	+0% $391	+5% $460	+10% $528
Rate	-1.0pp $458	-0.5pp $425	base $391	+0.5pp $357	+1.0pp $322

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: $33,225
• Closing costs: $3,987
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
611 Cooper St Watertown, NY	3.0	1.0	1190	$1,495	$1.26	44d	1	0.70mi
207 Wealtha Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,695	$1.18	44d	9	0.94mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	44d	1	1.30mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	44d	1	1.39mi
621 Academy St Watertown, NY	3.0	2.0	1652	$1,600	$0.97	44d	1	1.49mi

Listing history 17 events

1. 2026-06-19
   days on market $132,900 Active 46 DOM
2. 2026-06-18
   days on market $132,900 Active 45 DOM
3. 2026-06-17
   days on market $132,900 Active 44 DOM
4. 2026-06-16
   days on market $132,900 Active 43 DOM
5. 2026-06-15
   days on market $132,900 Active 42 DOM
6. 2026-06-14
   days on market $132,900 Active 40 DOM
7. 2026-06-12
   days on market $132,900 Active 39 DOM
8. 2026-06-09
   days on market $132,900 Active 36 DOM
9. 2026-06-08
   days on market $132,900 Active 35 DOM
10. 2026-06-07
    days on market $132,900 Active 34 DOM
11. 2026-06-05
    days on market $132,900 Active 31 DOM
12. 2026-06-03
    days on market $132,900 Active 30 DOM
13. 2026-06-02
    days on market $132,900 Active 29 DOM
14. 2026-06-01
    days on market $132,900 Active 28 DOM
15. 2026-05-31
    days on market $132,900 Active 27 DOM
16. 2026-05-30
    days on market $132,900 Active 26 DOM
17. 2026-05-04
    listed $137,500 Active 823-char remark

ⓘ 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: $1,979 · $165/mo
• Projected year-2 tax: $2,112 · $176/mo
• Expected delta: +$134/yr (+$11/mo · 6.7%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°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: $20,721
• − Mortgage interest: −$7,444
• − Property taxes: −$1,979
• − Insurance: −$1,331
• − Repairs & maintenance: −$1,658
• − Management: −$1,658
• − Depreciation: −$3,866
• Taxable income: $2,785
• Est. tax owed @ 24.0%: −$668
• After-tax cash flow: $4,028/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

-3.3% since first listed

2 events — show timeline

• 2026-05-19 Price Changed $132,900 CNYIS
• 2026-05-04 Listed $137,500 CNYIS

Property tax history

+18.7%/yr

Latest (2025): $1,979 · +3.9% YoY. Source: county tax records.