416 State St · Ogdensburg, NY 13669

$79,900

6 bd · 3.0 ba · 4,066 sqft · MultiFamily public records · 243 Days on market

Built 1917 4,800 sqft lot $20/sqft · 69% below area Est $121k · 34% 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 +5.5/10.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• 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 MLS

Charming Historic Multi-Family Home in the Heart of Ogdensburg Step into timeless elegance with this beautifully maintained historic home, ideally located just steps from downtown Ogdensburg. Featuring three separate living quarters, this property offers exceptional flexibility—live in one unit and rent the others for potential income of over $4,000 per month. Highlights include original hardwood floors, three decorative fireplaces (one with a stunning built-in bookcase), and a remodeled kitchen with a farmhouse sink and convenient first-floor laundry. Modern updates include three new electrical entrances, a 200-amp service, and a durable metal roof. Enjoy off-street parking with a two-spot carport and the charm of blue siding that enhances the home’s curb appeal. Perfectly situated near schools, shops, banks, and the post office, this rare gem combines historic character with modern comfort—ready for its next owner or investor.

Key facts

• Remodeled kitchen
• Farmhouse sink
• Historic home

Tags

• HISTORIC HOME
• THREE SEPARATE LIVING QUARTERS
• ORIGINAL HARDWOOD FLOORS
• DECORATIVE FIREPLACES
• REMODELED KITCHEN
• FARMHOUSE SINK

🏷️ Possibly a rental listed for sale. The $79,900 price doesn't fit this home's estimated sale value (~$120,793) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 5.3% in Ogdensburg — 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 66/100 on livability (#624 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D-, crime F.
• Ogdensburg City School District (town): math 34% / reading 46% proficiency, ranked #531 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 133 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 $1k of equity ($552 loan paydown + $853 appreciation (1.1% 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 (1.1% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — 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 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: 1.71% ✓
• Cap rate: 14.18%
• Cash-on-cash: 28.17%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

• ARV (median comp): $120,793
• List price: $79,900
• Delta: -33.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Franklin St	0.18mi	6/4.0	4,416 (+9%)	18mo	$159,900	$36	58
511-513 Greene	0.17mi	6/4.0	3,744 (-8%)	21mo	$123,000	$33	58
727 Ford St	0.36mi	7/2.5 (+1)	3,552 (-13%)	12mo	$59,900	$17	45

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

Projected returns pro-forma

1.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.6%
• Equity multiple: 2.57×
• Total profit: $35,225
• Equity at exit: $27,556

10-year hold

• IRR: 33.0%
• Equity multiple: 4.99×
• Total profit: $89,154
• Equity at exit: $36,837

Cash invested: $22,372 (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 13669

• Home prices YoY: 0.4%
• Active inventory: 133
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $525

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 56%

Sensitivity live

Price	-10% $580	-5% $553	+0% $525	+5% $498	+10% $470
Rent	-10% $417	-5% $471	+0% $525	+5% $579	+10% $633
Rate	-1.0pp $565	-0.5pp $545	base $525	+0.5pp $504	+1.0pp $483

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $79,900 Active 243 DOM
2. 2026-06-18
   days on market $79,900 Active 241 DOM
3. 2026-06-17
   days on market $79,900 Active 240 DOM
4. 2026-06-16
   days on market $79,900 Active 239 DOM
5. 2026-06-15
   days on market $79,900 Active 238 DOM
6. 2026-06-13
   days on market $79,900 Active 236 DOM
7. 2026-06-12
   days on market $79,900 Active 235 DOM
8. 2026-06-09
   days on market $79,900 Active 232 DOM
9. 2026-06-08
   days on market $79,900 Active 231 DOM
10. 2026-06-07
    days on market $79,900 Active 230 DOM
11. 2026-06-07
    days on market $79,900 Active 229 DOM
12. 2026-06-04
    days on market $79,900 Active 226 DOM
13. 2026-06-02
    days on market $79,900 Active 225 DOM
14. 2026-06-01
    days on market $79,900 Active 224 DOM
15. 2026-05-31
    days on market $79,900 Active 223 DOM
16. 2026-03-03
    price $79,900 961-char remark

    Show marketing remark (961 chars)

    Charming Historic Multi-Family Home in the Heart of Ogdensburg Step into timeless elegance with this beautifully maintained historic home, ideally located just steps from downtown Ogdensburg. Featuring three separate living quarters, this property offers exceptional flexibility—live in one unit and rent the others for potential income of over $4,000 per month. Highlights include original hardwood floors, three decorative fireplaces (one with a stunning built-in bookcase), and a remodeled kitchen with a farmhouse sink and convenient first-floor laundry. Modern updates include three new electrical entrances, a 200-amp service, and a durable metal roof. Enjoy off-street parking with a two-spot carport and the charm of blue siding that enhances the home’s curb appeal. Perfectly situated near schools, shops, banks, and the post office, this rare gem combines historic character with modern comfort—ready for its next owner or investor.

17. 2025-10-17
    listed $129,000 Active 961-char remark

    Show marketing remark (961 chars)

    Charming Historic Multi-Family Home in the Heart of Ogdensburg Step into timeless elegance with this beautifully maintained historic home, ideally located just steps from downtown Ogdensburg. Featuring three separate living quarters, this property offers exceptional flexibility—live in one unit and rent the others for potential income of over $4,000 per month. Highlights include original hardwood floors, three decorative fireplaces (one with a stunning built-in bookcase), and a remodeled kitchen with a farmhouse sink and convenient first-floor laundry. Modern updates include three new electrical entrances, a 200-amp service, and a durable metal roof. Enjoy off-street parking with a two-spot carport and the charm of blue siding that enhances the home’s curb appeal. Perfectly situated near schools, shops, banks, and the post office, this rare gem combines historic character with modern comfort—ready for its next owner or investor.

18. 2020-08-04
    soldstatus $68,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,364
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$2,324
• Taxable income: $5,348
• Est. tax owed @ 24.0%: −$1,284
• After-tax cash flow: $5,018/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: Ogdensburg City School District
• NCES district ID: 3621660
• Math proficiency: 34% ▼ -15.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $38,253
• Composite: 33.33/100
• National rank: #5497
• State rank: #531 of 590 in NY

Livability — Ogdensburg

• Score: 66/100
• State rank: #624
• US rank: #11365

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ogdensburg, NY
• Population (ZIP): 15,615

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 (91%)
• Race & ethnicity: White 91% Black 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 10% Polish 6% Slovak 3%
• Foreign-born: 3% · Canada, China, Jamaica
• Languages at home: 89% English-only · German/W. Germanic 9% Spanish 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: ▲ 1.07%
• Current HPI: 264.0261
• 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

+17.5% since first listed

3 events — show timeline

• 2026-03-03 Price Changed $79,900 SLCMLS
• 2025-10-17 Listed $129,000 SLCMLS
• 2020-08-04 Sold (Public Records) $68,000 Public Records

Property tax history

+15.2%/yr

Latest (2025): $8,531 · +0.4% YoY. Source: county tax records.