340-342 N Rutland St · Watertown, NY 13601

$109,900

4 bd · 2.0 ba · 2,310 sqft · Townhouse public records · 39 Days on market

Built 1900 6,970 sqft lot $48/sqft · 39% below area Est $180k · 39% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Conveniently located duplex situated on a corner city lot. This two-family home is full of opportunity for investors or owner-occupants. Each unit features a large living room, dining room and kitchen on the first floor (unit 340 has laundry hookups in the kitchen) and two bedrooms and one full bath upstairs for both units. Situated just minutes from Fort Drum and neighborhood amenities, the property sits in a prime area for steady tenant demand. With separate utilities, off street parking and a desirable location, this could be a great opportunity! Bring your ideas and see the potential this home has to offer. Schedule your private showing today!

Key facts

• Kitchen
• Corner city lot
• Large living room

Tags

• CORNER CITY LOT
• LARGE LIVING ROOM
• DINING ROOM
• KITCHEN
• LAUNDRY HOOKUPS
• TWO BEDROOMS

Property features AI

Finance

• Other: Owner pays: other (see remarks); Rent includes: see remarks
• Financial info: Two-unit property with separate gas and electric meters for each unit; Operating expense details: see remarks

Exterior

• Parking: Two or more parking spaces
• Utilities: Public water connected; Sewer connected; Electricity available; Cable available; High-speed internet available
• Home design: Two-story multi-family property; Existing construction; City street frontage
• Construction: Wood siding; Asphalt and metal roof; Stone foundation; Built as existing (year built details: existing)
• Exterior features: Corner lot; Near public transit; Rectangular residential lot; Porch

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: Two 2-bedroom units
• Flooring: Laminate; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced air heating
• Interior features: Enclosed porch; Covered porch
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $109,900 price doesn't fit this home's estimated sale value (~$180,382) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 36% 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 $760 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $110k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.62% ✓
• Cap rate: 13.68%
• Cash-on-cash: 26.37%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (median comp): $180,382
• List price: $109,900
• Delta: -39.07%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1200 Bronson St	0.39mi	5/2.0 (+1)	2,352 (+2%)	6mo	$102,000	$43	69
134 Michigan Ave	0.55mi	4/2.0	2,118 (-8%)	0mo	$199,000	$94	60
132 Central St	0.28mi	5/2.0 (+1)	2,457 (+6%)	22mo	$65,000	$26	53
127 N Pleasant St	0.36mi	4/3.0	2,014 (-13%)	21mo	$117,500	$58	40

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: 25.6%
• Equity multiple: 2.13×
• Total profit: $34,665
• Equity at exit: $16,386

10-year hold

• IRR: 36.2%
• Equity multiple: 5.17×
• Total profit: $128,467
• Equity at exit: $9,502

Cash invested: $30,772 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$576
• Tax from tax record: −$107 /mo · $1,289/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $676

Break-even live

Break-even rent $924

Max offer price $109,900

Occupancy floor 57%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 Academy St Watertown, NY	3.0	2.0	1652	$1,600	$0.97	44d	1	0.47mi
256 Michigan Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,626	$1.13	44d	9	0.55mi
417 Franklin St Watertown, NY	3.0	2.5	3000	$1,750	$0.58	44d	1	0.57mi
377 W Main St Unit 1 Watertown, NY	3.0	1.0	1991	$1,350	$0.68	44d	1	0.90mi
702 Leray St Watertown, NY	3.0	1.0	2700	$1,300	$0.48	44d	1	0.98mi
128 Park Ave Watertown, NY	3.0	2.0	2300	$2,400	$1.04	44d	1	1.05mi
156 N Meadow St Watertown, NY	4.0	1.0	2535	$1,500	$0.59	44d	1	1.16mi
1815 Olmstead Dr Watertown, NY	2.0–4.0	1.0–2.0	1380	$1,676	$1.21	44d	6	1.22mi

Listing history 35 events

1. 2026-06-19
   days on market $109,900 Active 39 DOM
2. 2026-06-18
   days on market $109,900 Active 38 DOM
3. 2026-06-17
   days on market $109,900 Active 37 DOM
4. 2026-06-16
   days on market $109,900 Active 36 DOM
5. 2026-06-15
   days on market $109,900 Active 35 DOM
6. 2026-06-14
   days on market $109,900 Active 33 DOM
7. 2026-06-12
   pricedays on market $109,900 Active 32 DOM
8. 2026-06-09
   days on market $125,000 Active 29 DOM
9. 2026-06-08
   days on market $125,000 Active 28 DOM
10. 2026-06-07
    days on market $125,000 Active 27 DOM
11. 2026-06-05
    days on market $125,000 Active 24 DOM
12. 2026-06-03
    days on market $125,000 Active 23 DOM
13. 2026-06-02
    days on market $125,000 Active 22 DOM
14. 2026-06-01
    days on market $125,000 Active 21 DOM
15. 2026-05-31
    days on market $125,000 Active 20 DOM
16. 2026-05-30
    days on market $125,000 Active 19 DOM
17. 2026-05-11
    listed $125,000 Active 655-char remark
18. 2025-11-08
    historical
19. 2025-10-07
    listed $125,000 Active
20. 2024-10-31
    historical
21. 2024-10-07
    status Active
22. 2024-09-30
    historical
23. 2024-06-17
    price $99,900
24. 2024-06-08
    price $109,000
25. 2024-05-27
    listed $114,000 Active
26. 2021-09-13
    historical
27. 2021-03-14
    listed $107,700 Active
28. 2014-02-07
    soldstatus $67,100
29. 2014-02-06
    soldstatus $67,000
30. 2013-12-30
    listed $74,800
31. 2013-12-01
    historical
32. 2013-06-01
    listed $79,000
33. 2010-07-28
    soldstatus $59,100
34. 2010-07-27
    soldstatus $59,000
35. 2009-05-11
    listed $69,900

ⓘ 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: $1,289 · $107/mo
• Projected year-2 tax: $1,573 · $131/mo
• Expected delta: +$284/yr (+$24/mo · 22.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 16 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: $21,352
• − Mortgage interest: −$6,156
• − Property taxes: −$1,289
• − Insurance: −$550
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$3,197
• Taxable income: $6,744
• Est. tax owed @ 24.0%: −$1,618
• After-tax cash flow: $6,495/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

+57.2% since first listed

20 events — show timeline

• 2026-06-09 Price Changed $109,900 CNYIS
• 2026-05-11 Listed $125,000 CNYIS
• 2025-11-08 Listing Removed — CNYIS
• 2025-10-07 Listed $125,000 CNYIS
• 2024-10-31 Listing Removed — CNYIS
• 2024-10-07 Relisted — CNYIS
• 2024-09-30 Listing Removed — CNYIS
• 2024-06-17 Price Changed $99,900 CNYIS
• 2024-06-08 Price Changed $109,000 CNYIS
• 2024-05-27 Listed $114,000 CNYIS
• 2021-09-13 Listing Removed — CNYIS
• 2021-03-14 Listed $107,700 CNYIS
• 2014-02-07 Sold (Public Records) $67,100 Public Records
• 2014-02-06 Sold (MLS) $67,000 CNYIS
• 2013-12-30 Listed $74,800 CNYIS
• 2013-12-01 Listing Removed — CNYIS
• 2013-06-01 Listed $79,000 CNYIS
• 2010-07-28 Sold (Public Records) $59,100 Public Records
• 2010-07-27 Sold (MLS) $59,000 CNYIS
• 2009-05-11 Listed $69,900 CNYIS

Property tax history

+18.7%/yr

Latest (2025): $1,289 · +3.9% YoY. Source: county tax records.