24533 2nd St · Herrings, NY 13619

$210,000

4 bd · 1.0 ba · 2,176 sqft · SingleFamily public records · 44 Days on market

Built 1903 0.33 ac lot $97/sqft · 26% below area Est $283k · 26% 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 +10.8/30.0
• Appreciation +10.0/10.0
• Schools +3.3/10.0
• 1% rule +3.2/10.0
• DSCR +3.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The search is over! This is home! With this rustic style interior, and spacious floor plan on the first floor, this is the home you have been looking for! Walking in the front door, you are met with a feel of the Adirondacks with the natural wood style flooring, beams and decor. As you enter the kitchen, you notice ample cabinet and counter space for cooking and easy access to all your kitchen appliances. The laundry room, off of the kitchen, is tucked behind gorgeous barn style doors, that close to enhance the rustic atmosphere. 3 bedrooms and a loft are all upstairs and of good size! Heading outside, you have the whole yard fenced in for privacy and the 2 car garage comes with an upstairs workshop but could easily be finished into living space! Right around the corner from Ft Drum!

Key facts

• Durable metal roof
• New water heater
• Brand new furnace

Tags

• FENCED IN YARD
• STAINLESS STEEL APPLIANCES
• BRAND NEW FURNACE
• NEW WATER HEATER
• DURABLE METAL ROOF
• UNFINISHED SPACE ABOVE GARAGE

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 2-story home; Existing construction
• Construction: Wood siding; Stone foundation
• Exterior features: Blacktop driveway; Propane tank (leased); Cul-de-sac lot; Irregular lot dimensions 116 x 125

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator; Electric water heater
• Bedrooms: Includes bedrooms (total rooms listed separately)
• Flooring: Hardwood; Vinyl; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Propane heating
• Interior features: Separate formal dining room; Separate formal living room; Loft; Partial basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (18.1% below list).
• Recommended offer: $172k (18.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#1,058 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, schools F, crime F.
• Carthage Central School District (rural): math 30% / reading 46% proficiency, ranked #539 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $171,941 (18.1% 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 44 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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 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: 0.82% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.98%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

• ARV (median comp): $283,145
• List price: $210,000
• Delta: -25.83%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24992 County Route 37	0.56mi	4/2.5	2,142 (-2%)	8mo	$262,000	$122	59

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: 22.9%
• Equity multiple: 2.84×
• Total profit: $108,216
• Equity at exit: $189,185

10-year hold

• IRR: 20.4%
• Equity multiple: 6.50×
• Total profit: $323,598
• Equity at exit: $407,984

Cash invested: $58,800 (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 13619

• Home prices YoY: 26.0%
• Active inventory: 77
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,719 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$267 /mo · $3,200/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $-97

Break-even live

Break-even rent $1,842

Max offer price $192,848

Occupancy floor —

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $210,000 Active 44 DOM
2. 2026-06-18
   days on market $210,000 Active 43 DOM
3. 2026-06-17
   days on market $210,000 Active 42 DOM
4. 2026-06-16
   days on market $210,000 Active 41 DOM
5. 2026-06-15
   days on market $210,000 Active 40 DOM
6. 2026-06-14
   days on market $210,000 Active 38 DOM
7. 2026-06-12
   pricedays on market $210,000 Active 37 DOM
8. 2026-06-09
   days on market $217,500 Active 34 DOM
9. 2026-06-08
   days on market $217,500 Active 33 DOM
10. 2026-06-07
    days on market $217,500 Active 32 DOM
11. 2026-06-05
    days on market $217,500 Active 29 DOM
12. 2026-06-03
    days on market $217,500 Active 28 DOM
13. 2026-06-02
    days on market $217,500 Active 27 DOM
14. 2026-06-01
    days on market $217,500 Active 26 DOM
15. 2026-05-31
    days on market $217,500 Active 25 DOM
16. 2026-05-30
    days on market $217,500 Active 24 DOM
17. 2026-05-06
    listed $225,000 Active 1975-char remark
18. 2024-09-21
    historical $1,600
19. 2024-08-16
    listed $1,600
20. 2022-03-22
    historical
21. 2021-12-06
    listed $180,000 Active
22. 2020-06-22
    soldstatus $155,000
23. 2018-04-06
    soldstatus $132,500
24. 2018-04-05
    soldstatus $132,500

    Show marketing remark (794 chars)

    The search is over! This is home! With this rustic style interior, and spacious floor plan on the first floor, this is the home you have been looking for! Walking in the front door, you are met with a feel of the Adirondacks with the natural wood style flooring, beams and decor. As you enter the kitchen, you notice ample cabinet and counter space for cooking and easy access to all your kitchen appliances. The laundry room, off of the kitchen, is tucked behind gorgeous barn style doors, that close to enhance the rustic atmosphere. 3 bedrooms and a loft are all upstairs and of good size! Heading outside, you have the whole yard fenced in for privacy and the 2 car garage comes with an upstairs workshop but could easily be finished into living space! Right around the corner from Ft Drum!

25. 2017-12-05
    listed $139,900

    Show marketing remark (794 chars)

    The search is over! This is home! With this rustic style interior, and spacious floor plan on the first floor, this is the home you have been looking for! Walking in the front door, you are met with a feel of the Adirondacks with the natural wood style flooring, beams and decor. As you enter the kitchen, you notice ample cabinet and counter space for cooking and easy access to all your kitchen appliances. The laundry room, off of the kitchen, is tucked behind gorgeous barn style doors, that close to enhance the rustic atmosphere. 3 bedrooms and a loft are all upstairs and of good size! Heading outside, you have the whole yard fenced in for privacy and the 2 car garage comes with an upstairs workshop but could easily be finished into living space! Right around the corner from Ft Drum!

26. 2017-12-04
    historical
27. 2017-05-22
    listed $149,500
28. 2010-10-26
    soldstatus $139,000
29. 2010-10-26
    soldstatus $139,000
30. 2010-06-03
    listed $135,000
31. 2008-05-30
    soldstatus $124,000
32. 2008-02-06
    listed $132,000

ⓘ 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: $3,200 · $267/mo
• Projected year-2 tax: $3,374 · $281/mo
• Expected delta: +$175/yr (+$15/mo · 5.5%)

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

Taxation est. · year 1

• Rental income: $20,633
• − Mortgage interest: −$11,763
• − Property taxes: −$3,200
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,651
• − Management: −$1,651
• − Depreciation: −$6,109
• Taxable loss: −$4,791
• Est. tax savings @ 24.0%: +$1,150
• After-tax cash flow: $-15/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: Carthage Central School District
• NCES district ID: 3606630
• Math proficiency: 30% ▼ -18.00%
• Reading proficiency: 46% ▲ 2.00%
• Median HH income: $48,450
• Composite: 32.63/100
• National rank: #5668
• State rank: #539 of 590 in NY

Livability — Herrings

• Score: 58/100
• State rank: #1058
• US rank: #21142

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Herrings, NY
• County: Jefferson County · 47,417 people
• Metro: Watertown-Fort Drum, NY
• Population (ZIP): 10,578
• Household income: $63,120
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 379.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Lithuanian 9% Romanian 3% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 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: ▲ 84.02%
• Current HPI: 406.9439
• Rent YoY: —
• 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

+59.1% since first listed

18 events — show timeline

• 2026-06-09 Price Changed $210,000 CNYIS
• 2026-05-27 Price Changed $217,500 CNYIS
• 2026-05-06 Listed $225,000 CNYIS
• 2024-09-21 Rental Removed $1,600 NYSAMLS
• 2024-08-16 Listed for Rent $1,600 NYSAMLS
• 2022-03-22 Listing Removed — CNYIS
• 2021-12-06 Listed $180,000 CNYIS
• 2020-06-22 Sold (Public Records) $155,000 Public Records
• 2018-04-06 Sold (Public Records) $132,500 Public Records
• 2018-04-05 Sold (MLS) $132,500 CNYIS
• 2017-12-05 Listed $139,900 CNYIS
• 2017-12-04 Listing Removed — CNYIS
• 2017-05-22 Listed $149,500 CNYIS
• 2010-10-26 Sold (Public Records) $139,000 Public Records
• 2010-10-26 Sold (MLS) $139,000 CNYIS
• 2010-06-03 Listed $135,000 CNYIS
• 2008-05-30 Sold (MLS) $124,000 CNYIS
• 2008-02-06 Listed $132,000 CNYIS

Property tax history

+3.7%/yr

Latest (2025): $3,200 · +4.9% YoY. Source: county tax records.