4 Garden St · Potsdam, NY 13676

$169,000

8 bd · 3.9 ba · 1,600 sqft · MultiFamily · 181 Days on market

Built 1904 Fair condition 0.32 ac lot $106/sqft · 37% below area Est $268k · 37% under ↓ 22% since listing

---

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 +10.0/10.0
• Schools +6.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

PRICED TO SELL AT 174,000, LESS THAN THE NEW ASSESSMENT OF 187,000. Investors and homebuyers, take note! This unique multi-family property 2 buildings on 1 lot, is situated in a prime location close to downtown, hospital and schools. There is ample off street parking available. There is a strong rental history for the units and is income producing with potential for increased cash flow. All of the units are currently occupied. The units have been painted and cleaned and move in ready for new tenants. 24 hours is needed to give tenants sufficient notice. Don't miss the opportunity to own this multi family property!! AS AN ADDED PERK, THE SELLER WILL OFFER UP TOWARDS CLOSING COSTS WITH AN ACCEPTABLE OFFER!! DON'T LET THIS OPPORTUNITY GET AWAY!!

Key facts

• Income producing
• 2 buildings on 1 lot
• Prime location

Tags

• MULTI FAMILY PROPERTY
• 2 BUILDINGS ON 1 LOT
• PRIME LOCATION
• AMPLE OFF STREET PARKING
• STRONG RENTAL HISTORY
• INCOME PRODUCING

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $169k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $373/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 3.9% in Potsdam — 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 75/100 on livability (#249 in NY, #3,908 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime F, commute F, employment F.
• Potsdam Central School District (town): math 53% / reading 66% proficiency, ranked #258 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lawrence Avenue Elementary School (math 72% / reading 72%, grade A-, #378 of 2,108 statewide, top 20%, 551 students, 39% FRL); A A Kingston Middle School (math 27% / reading 54%, grade F, #409 of 729 statewide, top 56%, 368 students, 40% FRL); Potsdam Senior High School (math 92% / reading 92%, grade A+, #171 of 1,100 statewide, top 18%, 372 students, 37% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 170 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 $18k of equity ($1k loan paydown + $17k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. 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: 14.24%
• Cash-on-cash: 28.38%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (median comp): $268,165
• List price: $169,000
• Delta: -36.98%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Pine St	0.60mi	8/6.0	1,675 (+5%)	1mo	$410,000	$245	55
10 Bay St	0.54mi	6/2.0 (-2)	1,967 (+23%)	40mo	$165,000	$84	12

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.8%
• Equity multiple: 4.45×
• Total profit: $163,363
• Equity at exit: $152,249

10-year hold

• IRR: 39.7%
• Equity multiple: 9.98×
• Total profit: $425,113
• Equity at exit: $328,330

Cash invested: $47,320 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 1 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 13676

• Home prices YoY: 17.7%
• Active inventory: 170
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $2,895 medium
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $1,119

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,895
Total (3 units)			$2,895

Break-even live

Break-even rent $1,478

Max offer price $169,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,236	-5% $1,178	+0% $1,119	+5% $1,061	+10% $1,002
Rent	-10% $890	-5% $1,005	+0% $1,119	+5% $1,233	+10% $1,348
Rate	-1.0pp $1,204	-0.5pp $1,162	base $1,119	+0.5pp $1,075	+1.0pp $1,031

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: $42,250
• Closing costs: $5,070
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Carol Ct Potsdam, NY	2.0	1.0	1278	$1,450	$1.13	139d	1	0.07mi
608 Swan St Potsdam, NY	2.0–3.0	1.5	1680	$1,400	$0.83	1d	1	0.52mi
118 Leroy St Potsdam, NY	2.0	1.0	800	$1,250	$1.56	1d	1	0.67mi
206 Outer Main St Potsdam, NY	3.0	1.0–3.0	—	$1,037	—	1d	1	1.33mi

Listing history 50 events

1. 2026-09-23
   days on market $169,000 Active 181 DOM
2. 2026-09-21
   days on market $169,000 Active 179 DOM
3. 2026-09-20
   days on market $169,000 Active 178 DOM
4. 2026-09-19
   days on market $169,000 Active 177 DOM
5. 2026-09-19
   days on market $169,000 Active 176 DOM
6. 2026-09-17
   days on market $169,000 Active 175 DOM
7. 2026-09-17
   days on market $169,000 Active 174 DOM
8. 2026-09-16
   days on market $169,000 Active 173 DOM
9. 2026-09-14
   days on market $169,000 Active 172 DOM
10. 2026-09-13
    days on market $169,000 Active 171 DOM
11. 2026-09-12
    days on market $169,000 Active 170 DOM
12. 2026-09-11
    days on market $169,000 Active 169 DOM
13. 2026-09-05
    days on market $169,000 Active 163 DOM
14. 2026-09-04
    days on market $169,000 Active 162 DOM
15. 2026-09-03
    days on market $169,000 Active 161 DOM
16. 2026-09-02
    days on market $169,000 Active 160 DOM
17. 2026-08-30
    days on market $169,000 Active 157 DOM
18. 2026-08-29
    days on market $169,000 Active 156 DOM
19. 2026-08-28
    days on market $169,000 Active 155 DOM
20. 2026-08-27
    days on market $169,000 Active 154 DOM
21. 2026-08-25
    days on market $169,000 Active 152 DOM
22. 2026-08-24
    days on market $169,000 Active 151 DOM
23. 2026-08-23
    days on market $169,000 Active 150 DOM
24. 2026-08-22
    days on market $169,000 Active 149 DOM
25. 2026-08-21
    days on market $169,000 Active 148 DOM
26. 2026-08-20
    days on market $169,000 Active 147 DOM
27. 2026-08-19
    days on market $169,000 Active 146 DOM
28. 2026-08-18
    days on market $169,000 Active 145 DOM
29. 2026-08-17
    days on market $169,000 Active 144 DOM
30. 2026-08-16
    days on market $169,000 Active 143 DOM
31. 2026-08-15
    days on market $169,000 Active 142 DOM
32. 2026-08-14
    days on market $169,000 Active 141 DOM
33. 2026-08-13
    days on market $169,000 Active 140 DOM
34. 2026-08-12
    days on market $169,000 Active 139 DOM
35. 2026-08-11
    days on market $169,000 Active 138 DOM
36. 2026-08-10
    days on market $169,000 Active 137 DOM
37. 2026-08-09
    days on market $169,000 Active 136 DOM
38. 2026-08-08
    days on market $169,000 Active 135 DOM
39. 2026-08-07
    days on market $169,000 Active 134 DOM
40. 2026-08-06
    days on market $169,000 Active 133 DOM
41. 2026-08-05
    days on market $169,000 Active 132 DOM
42. 2026-08-04
    days on market $169,000 Active 131 DOM
43. 2026-08-03
    days on market $169,000 Active 130 DOM
44. 2026-07-31
    days on market $169,000 Active 127 DOM
45. 2026-07-30
    days on market $169,000 Active 126 DOM
46. 2026-07-29
    days on market $169,000 Active 125 DOM
47. 2026-07-27
    days on market $169,000 Active 123 DOM
48. 2026-07-25
    days on market $169,000 Active 121 DOM
49. 2026-07-24
    days on market $169,000 Active 120 DOM
50. 2026-07-23
    days on market $169,000 Active 119 DOM

ⓘ 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 3/10 Moderate FEMA zone X · 17% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,740
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$2,779
• − Management: −$2,779
• − Depreciation: −$4,916
• Taxable income: $11,419
• Est. tax owed @ 24.0%: −$2,740
• After-tax cash flow: $10,689/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab Est. rehab $40,000–$72,000 screening

This multi-family property requires moderate repairs to exterior and roof, with potential for significant value increase through painting and landscaping.

Repairs flagged

• Moderate siding — Signs of wear and discoloration
• Moderate roof — Aged appearance
• Minor landscaping — Could benefit from trimming and planting

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair roof — Prevents water damage and extends life ↑
• Both landscaping — Improves curb appeal and rental value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 68/100

Zoned Schools

Elementary Lawrence Avenue Elementary School A- NY #378/2,108 Nat'l #2,792/41,679 Middle A A Kingston Middle School F NY #409/729 Nat'l #5,872/14,009 High Potsdam Senior High School A+ NY #171/1,100 Nat'l #281/17,239

Schools (NCES district)

• District: Potsdam Central School District
• NCES district ID: 3623670
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 66% ▲ 12.00%
• Median HH income: $44,144
• Composite: 50.05/100
• National rank: #1915
• State rank: #258 of 590 in NY

B Composite livability gradescore 75/100

Livability — Potsdam

• Score: 75/100
• State rank: #249
• US rank: #3908

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Potsdam, NY
• County: St. Lawrence · 110,027 people
• City population: 2,123
• Population (ZIP): 13,408
• Household income: $56,900
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 25% of renters

---

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Asian 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 48.01%
• Current HPI: 318.7704
• 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

-22.1% since first listed

7 events — show timeline

• 2026-05-15 Price Changed $169,000 SLCMLS
• 2026-05-11 Relisted — SLCMLS
• 2026-04-25 Pending — SLCMLS
• 2026-03-10 Listed $174,000 SLCMLS
• 2025-06-17 Price Changed $179,000 SLCMLS
• 2025-05-19 Price Changed $199,000 SLCMLS
• 2025-05-12 Listed $217,000 SLCMLS