405 Franklin St · Hammond, NY 13646

$125,500

2 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 257 Days on market

Built 1915 0.28 ac lot $111/sqft · 40% below area Est $209k · 40% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.0/30.0
• Appreciation +8.1/10.0
• Schools +4.2/10.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 405 Franklin Street! This charming home has so much to offer. Located in Hammond, this home combines small-town charm with historic woodwork, making it perfect for year-round residency or a north country getaway. As you walk up the front steps, the covered front porch is perfect for enjoying three seasons in St. Lawrence County. Through the front door, you are greeted with original woodwork, hardwood floors, a wood-burning fireplace, and plenty of natural light. The living room is spacious and leads to the full kitchen, which includes appliances and a built-in pantry for storage. Just off the kitchen is a large full bathroom fully equipped with a shower. Upstairs, you will find three nicely-sized bedrooms and another full bathroom with a tub. The backyard is spacious, and there is a detached two-car garage with automatic openers, along with additional space in the garage for gardening or storage. The home has had many updates, including a new roof on the home and garage, a new burner on the furnace, a new well pump, a new water softener, PEX plumbing, and more! Located just moments from Black Lake and near the St. Lawrence River, this home has something for everyone! Schedule your private tour today!

Key facts

• Covered front porch
• Spacious backyard
• Built in pantry

Tags

• COVERED FRONT PORCH
• ORIGINAL WOODWORK
• WOOD BURNING FIREPLACE
• BUILT IN PANTRY
• LARGE FULL BATHROOM
• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $126k.

Deal economics

• At list price, monthly cash flow is $-75 ($-903/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (16.7% below list).
• Recommended offer: $105k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 2.4% in Hammond — 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 59/100 on livability (#1,028 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D+, health & safety D.
• Hammond Central School District (rural): math 50% / reading 45% proficiency, ranked #528 of 755 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 46 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 $9k of equity ($868 loan paydown + $8k appreciation (6.1% 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 (6.1% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 257 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $17k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,568 (16.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 257 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.83% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.57%
• DSCR: 0.89
• GRM: 10.0

CMA / ARV

• ARV (median comp): $209,000
• List price: $125,500
• Delta: -39.95%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

6.13% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.92×
• Total profit: $32,427
• Equity at exit: $79,905

10-year hold

• IRR: 14.0%
• Equity multiple: 3.82×
• Total profit: $98,962
• Equity at exit: $145,784

Cash invested: $35,140 (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 13646

• Home prices YoY: 1.8%
• Active inventory: 46
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,046 medium
• Mortgage (P&I): −$658
• Tax from tax record: −$191 /mo · $2,291/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $-75

Break-even live

Break-even rent $1,141

Max offer price $112,202

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-40	+0% $-75	+5% $-111	+10% $-146
Rent	-10% $-158	-5% $-117	+0% $-75	+5% $-34	+10% $7
Rate	-1.0pp $-12	-0.5pp $-43	base $-75	+0.5pp $-108	+1.0pp $-141

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: $31,375
• Closing costs: $3,765
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $125,500 Active 257 DOM
2. 2026-06-21
   days on market $125,500 Active 256 DOM
3. 2026-06-18
   days on market $125,500 Active 254 DOM
4. 2026-06-17
   days on market $125,500 Active 253 DOM
5. 2026-06-16
   days on market $125,500 Active 252 DOM
6. 2026-06-15
   days on market $125,500 Active 251 DOM
7. 2026-06-13
   days on market $125,500 Active 249 DOM
8. 2026-06-12
   statusdays on market $125,500 Active 248 DOM
9. 2026-05-31
   status $125,500 Pending 246 DOM
10. 2026-05-31
    days on market $125,500 Active 246 DOM
11. 2025-11-12
    price $132,500 1230-char remark

    Show marketing remark (1230 chars)

    Welcome to 405 Franklin Street! This charming home has so much to offer. Located in Hammond, this home combines small-town charm with historic woodwork, making it perfect for year-round residency or a north country getaway. As you walk up the front steps, the covered front porch is perfect for enjoying three seasons in St. Lawrence County. Through the front door, you are greeted with original woodwork, hardwood floors, a wood-burning fireplace, and plenty of natural light. The living room is spacious and leads to the full kitchen, which includes appliances and a built-in pantry for storage. Just off the kitchen is a large full bathroom fully equipped with a shower. Upstairs, you will find three nicely-sized bedrooms and another full bathroom with a tub. The backyard is spacious, and there is a detached two-car garage with automatic openers, along with additional space in the garage for gardening or storage. The home has had many updates, including a new roof on the home and garage, a new burner on the furnace, a new well pump, a new water softener, PEX plumbing, and more! Located just moments from Black Lake and near the St. Lawrence River, this home has something for everyone! Schedule your private tour today!

12. 2025-09-27
    listed $142,500 Active 1230-char remark

    Show marketing remark (1230 chars)

    Welcome to 405 Franklin Street! This charming home has so much to offer. Located in Hammond, this home combines small-town charm with historic woodwork, making it perfect for year-round residency or a north country getaway. As you walk up the front steps, the covered front porch is perfect for enjoying three seasons in St. Lawrence County. Through the front door, you are greeted with original woodwork, hardwood floors, a wood-burning fireplace, and plenty of natural light. The living room is spacious and leads to the full kitchen, which includes appliances and a built-in pantry for storage. Just off the kitchen is a large full bathroom fully equipped with a shower. Upstairs, you will find three nicely-sized bedrooms and another full bathroom with a tub. The backyard is spacious, and there is a detached two-car garage with automatic openers, along with additional space in the garage for gardening or storage. The home has had many updates, including a new roof on the home and garage, a new burner on the furnace, a new well pump, a new water softener, PEX plumbing, and more! Located just moments from Black Lake and near the St. Lawrence River, this home has something for everyone! Schedule your private tour today!

13. 2021-03-01
    soldstatus $225,000
14. 2021-02-26
    soldstatus $72,000 922-char remark

    Show marketing remark (922 chars)

    Three bedroom, two full bathroom house on a quiet side street located in the Village of Hammond. A walk-through area could be a fourth bedroom or office. Home features a beautiful stain glass window, much storage, spacious kitchen and living room and a first-floor laundry area. A large first-floor bathroom with shower and a second-floor bathroom with tub. Original woodworking throughout the home including flooring in living room and second floor and a bookcase/storage next to a large wood-burning fireplace. Updates of new roof, appliances, and kitchen and bathroom flooring. Enjoy views from a lovely front porch and a balcony with rubber flooring above that is just the perfect size for a relaxing area. A large yard perfect for entertaining and a two-stall detached garage with a spacious workshop/office area in the back. Contact us today to schedule a showing of this home that is ready for you to move right in!

15. 2021-02-26
    soldstatus $72,000

    Show marketing remark (922 chars)

    Three bedroom, two full bathroom house on a quiet side street located in the Village of Hammond. A walk-through area could be a fourth bedroom or office. Home features a beautiful stain glass window, much storage, spacious kitchen and living room and a first-floor laundry area. A large first-floor bathroom with shower and a second-floor bathroom with tub. Original woodworking throughout the home including flooring in living room and second floor and a bookcase/storage next to a large wood-burning fireplace. Updates of new roof, appliances, and kitchen and bathroom flooring. Enjoy views from a lovely front porch and a balcony with rubber flooring above that is just the perfect size for a relaxing area. A large yard perfect for entertaining and a two-stall detached garage with a spacious workshop/office area in the back. Contact us today to schedule a showing of this home that is ready for you to move right in!

16. 2020-07-31
    listed $80,000 922-char remark

    Show marketing remark (922 chars)

    Three bedroom, two full bathroom house on a quiet side street located in the Village of Hammond. A walk-through area could be a fourth bedroom or office. Home features a beautiful stain glass window, much storage, spacious kitchen and living room and a first-floor laundry area. A large first-floor bathroom with shower and a second-floor bathroom with tub. Original woodworking throughout the home including flooring in living room and second floor and a bookcase/storage next to a large wood-burning fireplace. Updates of new roof, appliances, and kitchen and bathroom flooring. Enjoy views from a lovely front porch and a balcony with rubber flooring above that is just the perfect size for a relaxing area. A large yard perfect for entertaining and a two-stall detached garage with a spacious workshop/office area in the back. Contact us today to schedule a showing of this home that is ready for you to move right in!

17. 2015-01-16
    soldstatus $60,000
18. 2015-01-15
    soldstatus $60,000
19. 2015-01-15
    soldstatus $60,000
20. 2014-11-16
    listed $79,000
21. 2014-11-16
    listed $79,000

ⓘ 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: $2,291 · $191/mo
• Projected year-2 tax: $2,291 · $191/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 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°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: $12,548
• − Mortgage interest: −$7,030
• − Property taxes: −$2,291
• − Insurance: −$628
• − Repairs & maintenance: −$1,004
• − Management: −$1,004
• − Depreciation: −$3,651
• Taxable loss: −$3,059
• Est. tax savings @ 24.0%: +$734
• After-tax cash flow: $-169/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: Hammond Central School District
• NCES district ID: 3613440
• Math proficiency: 50% ▲ 20.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $43,579
• Composite: 42.23/100
• National rank: #6996
• State rank: #528 of 755 in NY

Livability — Hammond

• Score: 59/100
• State rank: #1028
• US rank: #20133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, NY
• City population: 2,373
• Population (ZIP): 2,373

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 (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Iranian 7% Lithuanian 4% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 91% English-only · German/W. Germanic 8% 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: ▲ 6.13%
• Current HPI: 347.3936
• 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

+67.7% since first listed

11 events — show timeline

• 2025-11-12 Price Changed $132,500 SLCMLS
• 2025-09-27 Listed $142,500 SLCMLS
• 2021-03-01 Sold (Public Records) $225,000 Public Records
• 2021-02-26 Sold (Public Records) $72,000 Public Records
• 2021-02-26 Sold (MLS) $72,000 SLCMLS
• 2020-07-31 Listed $80,000 SLCMLS
• 2015-01-16 Sold (MLS) $60,000 CNYIS
• 2015-01-15 Sold (Public Records) $60,000 Public Records
• 2015-01-15 Sold (MLS) $60,000 SLCMLS
• 2014-11-16 Listed $79,000 SLCMLS
• 2014-11-16 Listed $79,000 CNYIS

Property tax history

+10.8%/yr

Latest (2025): $2,291 · +2.3% YoY. Source: county tax records.