22 Preston St · Gouverneur, NY 13642

$65,000

2 bd · 1.0 ba · 1,099 sqft · SingleFamily public records · 43 Days on market

Built 1920 0.29 ac lot Est $102k · 36% under

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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 +8.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Looking for a fixer upper or a flipper? Here is one located at 22 Preston Street in the village of Gouverneur. This two bed one bath home holds an eat in kitchen with a formal dining area and the living room and the full bath on the first floor. The two bedrooms are located upstairs. there is a detached garage in the spacious partial fenced in back yard. Come and check it out. just needs some love.

Key facts

• 0.29 acre lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 7.4% in Gouverneur — 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 67/100 on livability (#605 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools D+, amenities F, commute F.
• Gouverneur Central School District (town): math 23% / reading 34% proficiency, ranked #582 of 590 in NY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 62 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 ($449 loan paydown + $4k appreciation (6.2% 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 (6.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 1.71% ✓
• Cap rate: 13.13%
• Cash-on-cash: 24.44%
• DSCR: 2.09
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $102,207
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30 Wilson St	0.18mi	3/1.0 (+1)	1,004 (-9%)	9mo	$74,360	$74	65
133 Main St Hailesboro Rd	0.61mi	2/1.0	1,205 (+10%)	5mo	$28,500	$24	51
332 W Main St	0.15mi	3/1.5 (+1)	1,254 (+14%)	17mo	$45,000	$36	48
65 Parker St	0.51mi	3/1.5 (+1)	958 (-13%)	2mo	$93,000	$97	46
153 Hailesboro St	0.60mi	3/1.5 (+1)	1,040 (-5%)	19mo	$151,000	$145	40
60 Mckean St & 71 Johnstown St	0.47mi	3/1.0 (+1)	1,236 (+12%)	21mo	$115,000	$93	34
51 Johnstown St	0.51mi	3/2.0 (+1)	1,222 (+11%)	21mo	$156,000	$128	31

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

Projected returns pro-forma

6.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.4%
• Equity multiple: 3.38×
• Total profit: $43,398
• Equity at exit: $41,897

10-year hold

• IRR: 33.7%
• Equity multiple: 6.99×
• Total profit: $109,033
• Equity at exit: $76,889

Cash invested: $18,200 (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 13642

• Home prices YoY: 1.8%
• Active inventory: 62
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,114 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$142 /mo · $1,698/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $371

Break-even live

Break-even rent $645

Max offer price $65,000

Occupancy floor 62%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Sleepy Hollow Rd Gouverneur, NY	3.0	2.0	1499	$1,114	$0.74	43d	3	1.33mi

Listing history 2 events

1. 2026-04-23
   status Pending
2. 2026-03-11
   listed $65,000 Active

ⓘ 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: $1,698 · $142/mo
• Projected year-2 tax: $1,698 · $142/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 ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,368
• − Mortgage interest: −$3,641
• − Property taxes: −$1,698
• − Insurance: −$325
• − Repairs & maintenance: −$1,069
• − Management: −$1,069
• − Depreciation: −$1,891
• Taxable income: $3,674
• Est. tax owed @ 24.0%: −$882
• After-tax cash flow: $3,565/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: Gouverneur Central School District
• NCES district ID: 3612360
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 34% ▲ 8.00%
• Median HH income: $41,217
• Composite: 24.08/100
• National rank: #7757
• State rank: #582 of 590 in NY

Livability — Gouverneur

• Score: 67/100
• State rank: #605
• US rank: #10956

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gouverneur, NY
• Population (ZIP): 9,018

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 6% Two or more races 6% Black 4%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 8% Slovak 4% Serbian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 2%

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: ▲ 6.25%
• Current HPI: 349.6603
• 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

2 events — show timeline

• 2026-04-23 Pending — SLCMLS
• 2026-03-11 Listed $65,000 SLCMLS

Property tax history

+4.2%/yr

Latest (2025): $1,698 · +1.7% YoY. Source: county tax records.