35 Prospect St · Norwood, NY 13668

$88,500

3 bd · 1.0 ba · 1,764 sqft · SingleFamily public records · 22 Days on market

Built 1875 0.70 ac lot Est $141k · 37% 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 +25.5/30.0
• ARV discount +15.0/15.0
• 1% rule +9.4/10.0
• DSCR +8.5/10.0
• Appreciation +6.8/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming Village of Norwood home on a fenced double lot, offering an oversized yard with mature trees and established plantings including roses, raspberries, grapevines, apple trees, and hazelnuts. The fenced yard helps keep the deer out and pets in. Conveniently located near downtown amenities, parks, and entertainment, this home includes a screened in front porch and generator. The main floor features a welcoming entry with natural woodwork and a pellet stove, a large eat in kitchen, laundry room, and a full bathroom. Upstairs offers three bedrooms and a second full bathroom. This older home offers character and potential, making it a great opportunity for a buyer looking to complete some

Key facts

• Oversized yard
• Fenced double lot
• Pellet stove

Tags

• FENCED DOUBLE LOT
• OVERSIZED YARD
• MATURE TREES
• ESTABLISHED PLANTINGS
• SCREENED IN FRONT PORCH
• PELLET STOVE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $87k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#541 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools D+, amenities F.
• Norwood-Norfolk Central School District (rural): math 30% / reading 36% proficiency, ranked #568 of 590 in NY (top 96%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 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 $4k of equity ($612 loan paydown + $3k appreciation (3.6% 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 (3.6% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $27k; list at $88k implies a 228% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,172 (1.5% below list)

Questions for the listing agent

1. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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. 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 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: 1.44% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.02%
• DSCR: 1.45
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $141,120
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 N Main St	0.37mi	3/1.5	1,793 (+2%)	1mo	$100,000	$56	77
10 Morgan St	0.49mi	4/2.5 (+1)	1,944 (+10%)	2mo	$180,000	$93	48
17 Morgan St	0.54mi	4/2.0 (+1)	2,000 (+13%)	22mo	$160,000	$80	25

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

Projected returns pro-forma

3.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.4%
• Equity multiple: 2.08×
• Total profit: $26,817
• Equity at exit: $42,810

10-year hold

• IRR: 19.3%
• Equity multiple: 3.98×
• Total profit: $73,769
• Equity at exit: $68,423

Cash invested: $24,780 (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 13668

• Home prices YoY: 1.1%
• Active inventory: 26
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,278 medium
• Mortgage (P&I): −$464
• Tax from tax record: −$302 /mo · $3,624/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $207

Break-even live

Break-even rent $1,016

Max offer price $88,500

Occupancy floor 79%

Sensitivity live

Price	-10% $257	-5% $232	+0% $207	+5% $182	+10% $157
Rent	-10% $106	-5% $156	+0% $207	+5% $257	+10% $308
Rate	-1.0pp $252	-0.5pp $230	base $207	+0.5pp $184	+1.0pp $161

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: $22,125
• Closing costs: $2,655
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-08
   status Pending
2. 2026-03-16
   listed $88,500 Active
3. 2025-01-06
   listed $75,000 Active
4. 1999-04-14
   soldstatus $27,000

ⓘ 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: $3,624 · $302/mo
• Projected year-2 tax: $3,624 · $302/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 FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,342
• − Mortgage interest: −$4,957
• − Property taxes: −$3,624
• − Insurance: −$442
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − Depreciation: −$2,575
• Taxable income: $1,288
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $2,175/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: Norwood-Norfolk Central School District
• NCES district ID: 3621360
• Math proficiency: 30% ▼ -8.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $43,492
• Composite: 28.05/100
• National rank: #6841
• State rank: #568 of 590 in NY

Livability — Norwood

• Score: 68/100
• State rank: #541
• US rank: #9728

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norwood, NY
• City population: 3,313
• Population (ZIP): 3,313

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 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 13% Portuguese 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · 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: ▲ 3.60%
• Current HPI: 318.2533
• 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

+227.8% since first listed

4 events — show timeline

• 2026-04-08 Pending — SLCMLS
• 2026-03-16 Listed $88,500 SLCMLS
• 2025-01-06 Listed $75,000 SLCMLS
• 1999-04-14 Sold (Public Records) $27,000 Public Records

Property tax history

+7.1%/yr

Latest (2025): $3,624 · +22.5% YoY. Source: county tax records.