10229 Washington St · Copenhagen, NY 13626

$299,000

2 bd · 2.5 ba · 3,488 sqft · MultiFamily public records · 46 Days on market

Built 2002 4.70 ac lot $86/sqft · 302% above area

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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 +16.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +6.6/10.0
• Schools +5.4/10.0
• DSCR +5.1/10.0
• Livability +3.1/5.0
• 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

This 4,688 square foot property sits on 4.7 acres just outside of town in the Village of Copenhagen. Currently this building consists of three (3) multi-unit apartments but the possibilities are endless, whether it be an office with two apartments, store, bed and breakfast, bar or restaurant. The end apartment has a eat in kitchen/living room combo with a cozy gas fireplace, a spacious kitchen with plenty of hickory cupboards and counterspace, stainless steel appliances, two bedrooms and one bath; current rent collected for this unit is $ 900.00. The middle apartment has a massive kitchen with island and oodles of cupboards and counters. The living/family room combo is extra large, there is

Key facts

• Hickory cupboards
• Formal dining room
• Eat in kitchen

Tags

• EAT IN KITCHEN
• GAS FIREPLACE
• HICKORY CUPBOARDS
• STAINLESS STEEL APPLIANCES
• MASSIVE KITCHEN
• FORMAL DINING ROOM

Property features AI

Finance

• Financial info: Multi-unit property with 3 total units; Separate electric meters: 2; Operating expenses include maintenance and professional management; Current rents (by unit): $1,500; $900; $850; Owner pays grounds care and snow removal; rent includes common area maintenance and snow removal

Exterior

• Parking: Has garage with 3 spaces; Paved parking; Two or more off-street spaces; Garage door opener
• Utilities: Electricity available with circuit breakers; Public water connected; Sewer connected; Cable available
• Home design: Single-story building; Vinyl siding exterior
• Construction: Vinyl siding construction; Existing (no new construction)
• Exterior features: Patio; Awning(s); Porch (one unit); Propane tank (leased); Property listed as resale; Lot is agricultural and irregularly shaped

Interior

• Kitchen: Eat-in kitchen (one unit); Dining area or formal dining room in select units
• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms; One unit with 1 bedroom
• Flooring: Luxury vinyl flooring
• Bathrooms: Three full bathrooms and one half bathroom total across units; Unit breakdown: one unit with 1 full and 1 half bath; two units each with 1 full bath
• Heating & cooling: Forced air heating; Propane heating
• Interior features: Ceiling fan(s); Sliding glass door(s); Sliding doors
• Laundry & utility: Laundry in-unit (two units indicated)

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#914 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Copenhagen Central School District (rural): math 64% / reading 62% proficiency, ranked #197 of 590 in NY (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 17 active listings in the ZIP; 110 units permitted in Lewis County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.1% local appreciation)).
• Lewis County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $100k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $299k implies a 416% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price.

Recommended offer $290,030 (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. 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. 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?
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: 1.16% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.58%
• DSCR: 1.11
• GRM: 7.2

CMA / ARV

• ARV (median comp): $100,000
• List price: $299,000
• Delta: 199.00%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

3.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.60×
• Total profit: $49,941
• Equity at exit: $136,690

10-year hold

• IRR: 12.6%
• Equity multiple: 2.91×
• Total profit: $159,674
• Equity at exit: $212,420

Cash invested: $83,720 (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 13626

• Home prices YoY: 1.0%
• Active inventory: 17
• Price-to-rent: 21.5×

Monthly cashflow live

• Estimated rent: $3,477 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$874 /mo · $10,494/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $180

Break-even live

Break-even rent $3,249

Max offer price $299,000

Occupancy floor 90%

Sensitivity live

Price	-10% $349	-5% $264	+0% $180	+5% $95	+10% $11
Rent	-10% $-95	-5% $42	+0% $180	+5% $317	+10% $454
Rate	-1.0pp $330	-0.5pp $256	base $180	+0.5pp $102	+1.0pp $23

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,477
Total (3 units)			$3,477

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $299,000 Active 46 DOM
2. 2026-06-18
   days on market $299,000 Active 45 DOM
3. 2026-06-17
   days on market $299,000 Active 44 DOM
4. 2026-06-16
   days on market $299,000 Active 43 DOM
5. 2026-06-15
   days on market $299,000 Active 42 DOM
6. 2026-06-14
   days on market $299,000 Active 40 DOM
7. 2026-06-12
   days on market $299,000 Active 39 DOM
8. 2026-06-09
   days on market $299,000 Active 36 DOM
9. 2026-06-08
   days on market $299,000 Active 35 DOM
10. 2026-06-07
    days on market $299,000 Active 34 DOM
11. 2026-06-02
    days on market $299,000 Active 29 DOM
12. 2026-06-01
    days on market $299,000 Active 28 DOM
13. 2026-05-31
    days on market $299,000 Active 27 DOM
14. 2026-05-30
    days on market $299,000 Active 26 DOM
15. 2026-05-07
    price $299,000 1523-char remark
16. 2026-05-04
    listed $399,000 Active 1523-char remark
17. 2026-03-31
    historical
18. 2025-09-08
    price $399,000
19. 2025-04-09
    listed $429,000 Active
20. 2018-06-15
    historical
21. 2017-12-18
    listed $260,000
22. 2016-04-19
    soldstatus $57,989
23. 2012-05-21
    soldstatus $63,569

ⓘ 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: $10,494 · $874/mo
• Projected year-2 tax: $10,494 · $874/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $41,724
• − Mortgage interest: −$16,749
• − Property taxes: −$10,494
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,338
• − Management: −$3,338
• − Depreciation: −$8,698
• Taxable loss: −$2,388
• Est. tax savings @ 24.0%: +$573
• After-tax cash flow: $2,730/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: Copenhagen Central School District
• NCES district ID: 3608280
• Math proficiency: 64% ▲ 9.00%
• Reading proficiency: 62% ▲ 11.00%
• Median HH income: $53,499
• Composite: 53.91/100
• National rank: #1403
• State rank: #197 of 590 in NY

Livability — Copenhagen

• Score: 61/100
• State rank: #914
• US rank: #17891

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Copenhagen, NY
• Population (ZIP): 2,322

Population outlook (Lewis County) Hauer SSP2

• Today (2025): 26,126 people
• By 2030: 25,354 · -3.0%
• By 2040: 23,359 · -10.6%
• By 2050: 20,927 · -19.9%
• By 2075: 15,533 · -40.5%
• By 2100: 10,215 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Lithuanian 7% Romanian 6% Polish 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 93% English-only · German/W. Germanic 5% Spanish 2%

Political lean MEDSL · Lewis

• 2024 margin: Solid R (+44.4) · D 27.8% · R 72.2%
• 2008→2024 swing: -35.6pp toward R · 2008: -8.8pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+39.2 2016: R+39.6 2012: R+8.7 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.13%
• Current HPI: 303.3172
• 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

+370.4% since first listed

9 events — show timeline

• 2026-05-07 Price Changed $299,000 CNYIS
• 2026-05-04 Listed $399,000 CNYIS
• 2026-03-31 Listing Removed — CNYIS
• 2025-09-08 Price Changed $399,000 CNYIS
• 2025-04-09 Listed $429,000 CNYIS
• 2018-06-15 Listing Removed — CNYIS
• 2017-12-18 Listed $260,000 CNYIS
• 2016-04-19 Sold (Public Records) $57,989 Public Records
• 2012-05-21 Sold (Public Records) $63,569 Public Records

Property tax history

-0.0%/yr

Latest (2025): $10,494 · +1.8% YoY. Source: county tax records.