317 Ten Eyck St · Watertown, NY 13601

$120,000

5 bd · 2.5 ba · 2,775 sqft · MultiFamily public records · 265 Days on market

Built 1880 Fair condition 0.28 ac lot $43/sqft · 53% below area ↓ 36% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

What a great opportunity to fix this beauty up and make it your very own! This features nice sized kitchen, formal dining room, living room, bonus room full bath on first floor. Upstairs you have 4 nice sized bedrooms, full bath. Attic is finished off. This property also has a studio apartment with 1-bedroom full bath. A 1 stall garage, and a very large back yard. This is a great fixer-upper!

Key facts

• Formal dining room
• Finished attic
• Kitchen

Tags

• KITCHEN
• FORMAL DINING ROOM
• LIVING ROOM
• BONUS ROOM
• FULL BATH
• FINISHED ATTIC

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath multifamily listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 6.1% 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-, crime F, commute 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.
• Zoned schools: Sherman School (math 42% / reading 52%, grade D-, #1,195 of 2,108 statewide, top 60%, 320 students, 57% FRL); Case Middle School (math 17% / reading 41%, grade F, #566 of 729 statewide, top 78%, 626 students, 70% FRL); Watertown Senior High School (math 89% / reading 92%, grade A+, #231 of 1,100 statewide, top 21%, 1,083 students, 65% FRL).
• Market conditions: Rents rising fast (+10.0%/yr); 294 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 265 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $40k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 265 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.64% ✓
• Cap rate: 12.34%
• Cash-on-cash: 21.58%
• DSCR: 1.96
• GRM: 5.1

CMA / ARV

• ARV (median comp): $254,306
• List price: $120,000
• Delta: -52.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 Boyd St	0.94mi	6/3.0 (+1)	2,732 (-2%)	4mo	$28,500	$10	52
359 Franklin St #2	0.75mi	5/3.0	2,644 (-5%)	8mo	$70,000	$26	48
418-420 Stone St Unit 418-420	0.35mi	4/3.0 (-1)	2,304 (-17%)	11mo	$249,000	$108	42
855-857 W Main St	1.08mi	6/2.0 (+1)	2,738 (-1%)	16mo	$90,000	$33	42
512 Hamlin St	0.73mi	5/2.5	2,220 (-20%)	5mo	$236,000	$106	37
301 Keyes Ave	0.66mi	4/2.0 (-1)	2,450 (-12%)	10mo	$30,000	$12	35
472 Coffeen St	0.71mi	6/2.5 (+1)	2,400 (-14%)	7mo	$185,000	$77	34
350 Brainard St	0.93mi	6/3.5 (+1)	2,859 (+3%)	21mo	$240,000	$84	33
123 State Pl	1.03mi	6/4.0 (+1)	3,086 (+11%)	5mo	$250,000	$81	31
114 High St	0.97mi	5/3.0	2,500 (-10%)	20mo	$178,500	$71	30
328 Clay St	0.64mi	6/3.0 (+1)	3,248 (+17%)	19mo	$100,000	$31	22
159 Mechanic St	0.87mi	6/2.0 (+1)	2,263 (-18%)	17mo	$72,000	$32	19

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: 20.2%
• Equity multiple: 1.88×
• Total profit: $29,535
• Equity at exit: $17,892

10-year hold

• IRR: 31.9%
• Equity multiple: 4.66×
• Total profit: $122,979
• Equity at exit: $10,375

Cash invested: $33,600 (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 →

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

Active competition Active MLS

• For sale now: 3 active · 1 under contract
• Months of supply: 9.0 mo (11%/mo absorbed)
• Median asking: $249,000 ($85/sqft)
• Median days on market: 46 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +8.1% vs current asking $/sqft

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

ZIP-level market 13601

• Home prices YoY: -5.6%
• Rents YoY: 10.0%
• Active inventory: 294
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,966 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$269 /mo · $3,232/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $604

Break-even live

Break-even rent $1,201

Max offer price $120,000

Occupancy floor 64%

Sensitivity live

Price	-10% $672	-5% $638	+0% $604	+5% $570	+10% $536
Rent	-10% $449	-5% $527	+0% $604	+5% $682	+10% $760
Rate	-1.0pp $665	-0.5pp $635	base $604	+0.5pp $573	+1.0pp $542

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: $30,000
• Closing costs: $3,600
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
159 Mullin St Unit 2 Watertown, NY	2.0	1.0	900	$1,200	$1.33	93d	1	0.29mi
136 N Meadow St Unit A Watertown, NY	2.0	1.0	1000	$995	$0.99	93d	1	0.53mi
128 Park Ave Watertown, NY	3.0	2.0	2300	$2,400	$1.04	93d	1	0.54mi
152 Court St Unit 1 Watertown, NY	1.0	1.0	20880	$1,300	$0.06	93d	1	0.59mi
152 Court St Unit 5 Watertown, NY	1.0	1.0	850	$1,375	$1.62	93d	1	0.59mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	93d	1	0.63mi
334 Clay St Watertown, NY	1.0	1.0	—	$1,071	—	93d	1	0.63mi
334 Clay St Unit 4 Watertown, NY	1.0	1.0	700	$1,070	$1.53	93d	1	0.63mi
161 Breen Ave Watertown, NY	2.0	1.0	—	$1,200	—	93d	1	0.66mi
400 Coffeen St Unit 3 Watertown, NY	2.0	1.0	—	$1,350	—	93d	1	0.68mi
409 Franklin St Unit 2 Watertown, NY	2.0	1.0	—	$850	—	93d	1	0.78mi
417 Franklin St Watertown, NY	3.0	2.5	3000	$1,750	$0.58	93d	1	0.79mi
377 W Main St Unit 1 Watertown, NY	3.0	1.0	1991	$1,350	$0.68	93d	1	0.83mi
351 W Main St Watertown, NY	1.0	1.0	1000	$995	$0.99	93d	1	0.83mi
173 Ely St Watertown, NY	2.0	1.0	1940	$1,150	$0.59	93d	1	0.86mi
720 Cadwell St Watertown, NY	2.0	1.5	1300	$995	$0.77	93d	1	0.89mi
621 Academy St Watertown, NY	3.0	2.0	1652	$1,600	$0.97	93d	1	0.92mi
142 E Main St Unit A Watertown, NY	1.0	1.0	—	$825	—	93d	1	0.98mi
611 Cooper St Watertown, NY	3.0	1.0	1190	$1,495	$1.26	93d	1	1.00mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	93d	1	1.01mi
311 High St Watertown, NY	2.0	1.0	851	$1,200	$1.41	93d	1	1.06mi
816 Boyd St Unit 1 Watertown, NY	2.0	1.0	980	$1,500	$1.53	93d	1	1.10mi
207 Wealtha Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,304	$0.91	93d	9	1.13mi
702 Leray St Watertown, NY	3.0	1.0	2700	$1,300	$0.48	93d	1	1.15mi
911 State St Watertown, NY	3.0	1.0	12136	$1,100	$0.09	93d	1	1.19mi
911 State St Unit 3 Watertown, NY	3.0	1.0	1200	$995	$0.83	93d	1	1.20mi
927 State St Watertown, NY	2.0	1.0	900	$1,000	$1.11	93d	1	1.22mi
2240 Kristina Park Watertown, NY	1.0–3.0	1.0–2.0	1072	$1,432	$1.34	93d	5	1.34mi
836 Leray St Watertown, NY	2.0	1.0	1782	$1,200	$0.67	93d	1	1.34mi
1029 Gill St Watertown, NY	3.0	1.0	1275	$1,950	$1.53	93d	1	1.40mi

Listing history 50 events

1. 2026-07-25
   days on market $120,000 Active 265 DOM
2. 2026-07-23
   days on market $120,000 Active 263 DOM
3. 2026-07-22
   days on market $120,000 Active 262 DOM
4. 2026-07-21
   days on market $120,000 Active 261 DOM
5. 2026-07-18
   days on market $120,000 Active 258 DOM
6. 2026-07-16
   days on market $120,000 Active 256 DOM
7. 2026-07-16
   days on market $120,000 Active 255 DOM
8. 2026-07-14
   days on market $120,000 Active 254 DOM
9. 2026-07-13
   days on market $120,000 Active 253 DOM
10. 2026-07-12
    days on market $120,000 Active 252 DOM
11. 2026-07-11
    days on market $120,000 Active 251 DOM
12. 2026-07-10
    days on market $120,000 Active 250 DOM
13. 2026-07-09
    days on market $120,000 Active 249 DOM
14. 2026-07-08
    days on market $120,000 Active 248 DOM
15. 2026-07-07
    days on market $120,000 Active 247 DOM
16. 2026-07-06
    days on market $120,000 Active 246 DOM
17. 2026-07-05
    days on market $120,000 Active 245 DOM
18. 2026-07-04
    days on market $120,000 Active 244 DOM
19. 2026-07-03
    days on market $120,000 Active 243 DOM
20. 2026-07-02
    days on market $120,000 Active 242 DOM
21. 2026-07-02
    price $120,000 Active 241 DOM
22. 2026-07-01
    days on market $160,000 Active 241 DOM
23. 2026-06-30
    days on market $160,000 Active 240 DOM
24. 2026-06-29
    days on market $160,000 Active 239 DOM
25. 2026-06-28
    days on market $160,000 Active 238 DOM
26. 2026-06-27
    days on market $160,000 Active 237 DOM
27. 2026-06-26
    days on market $160,000 Active 235 DOM
28. 2026-06-22
    days on market $160,000 Active 232 DOM
29. 2026-06-21
    days on market $160,000 Active 231 DOM
30. 2026-06-19
    days on market $160,000 Active 229 DOM
31. 2026-06-18
    days on market $160,000 Active 228 DOM
32. 2026-06-17
    days on market $160,000 Active 227 DOM
33. 2026-06-16
    days on market $160,000 Active 226 DOM
34. 2026-06-15
    days on market $160,000 Active 225 DOM
35. 2026-06-14
    days on market $160,000 Active 223 DOM
36. 2026-06-12
    days on market $160,000 Active 222 DOM
37. 2026-06-09
    days on market $160,000 Active 219 DOM
38. 2026-06-08
    days on market $160,000 Active 218 DOM
39. 2026-06-07
    days on market $160,000 Active 217 DOM
40. 2026-06-05
    days on market $160,000 Active 214 DOM
41. 2026-06-03
    days on market $160,000 Active 213 DOM
42. 2026-06-02
    days on market $160,000 Active 212 DOM
43. 2026-06-01
    days on market $160,000 Active 211 DOM
44. 2026-05-31
    days on market $160,000 Active 210 DOM
45. 2026-05-30
    days on market $160,000 Active 209 DOM
46. 2026-05-11
    status Active 395-char remark

    Show marketing remark (395 chars)

    What a great opportunity to fix this beauty up and make it your very own! This features nice sized kitchen, formal dining room, living room, bonus room full bath on first floor. Upstairs you have 4 nice sized bedrooms, full bath. Attic is finished off. This property also has a studio apartment with 1-bedroom full bath. A 1 stall garage, and a very large back yard. This is a great fixer-upper!

47. 2026-02-05
    status Pending 395-char remark

    Show marketing remark (395 chars)

    What a great opportunity to fix this beauty up and make it your very own! This features nice sized kitchen, formal dining room, living room, bonus room full bath on first floor. Upstairs you have 4 nice sized bedrooms, full bath. Attic is finished off. This property also has a studio apartment with 1-bedroom full bath. A 1 stall garage, and a very large back yard. This is a great fixer-upper!

48. 2025-09-27
    historical Active Under Contract 395-char remark

    Show marketing remark (395 chars)

    What a great opportunity to fix this beauty up and make it your very own! This features nice sized kitchen, formal dining room, living room, bonus room full bath on first floor. Upstairs you have 4 nice sized bedrooms, full bath. Attic is finished off. This property also has a studio apartment with 1-bedroom full bath. A 1 stall garage, and a very large back yard. This is a great fixer-upper!

49. 2025-07-30
    listed $160,000 Active 395-char remark

    Show marketing remark (395 chars)

    What a great opportunity to fix this beauty up and make it your very own! This features nice sized kitchen, formal dining room, living room, bonus room full bath on first floor. Upstairs you have 4 nice sized bedrooms, full bath. Attic is finished off. This property also has a studio apartment with 1-bedroom full bath. A 1 stall garage, and a very large back yard. This is a great fixer-upper!

50. 2016-02-10
    historical

ⓘ 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: $3,232 · $269/mo
• Projected year-2 tax: $3,232 · $269/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 ≥91°F today · 15 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: $23,589
• − Mortgage interest: −$6,722
• − Property taxes: −$3,232
• − Insurance: −$600
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − Depreciation: −$3,491
• Taxable income: $5,770
• Est. tax owed @ 24.0%: −$1,385
• After-tax cash flow: $5,867/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $69,375–$124,875 screening

This multi-family property requires significant exterior repairs and maintenance to improve its condition and value. Potential buyers and renters will appreciate a fresh paint job, well-maintained landscaping, and a repaired fence.

Repairs flagged

• Major roof — Signs of significant wear
• Major exterior siding — Weathered and peeling
• Major landscaping — Overgrown and unkempt
• Major fencing — Appears old and in need of repair

Value-add opportunities

• Both paint exterior — Fresh paint can improve curb appeal and value ↑
• Both landscaping — A well-maintained yard can increase both resale and rental value ↑
• Both repair fencing — A repaired fence enhances safety and property 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.

D Composite school gradezoned avg 56/100

Zoned Schools

Elementary Sherman School D- NY #1,195/2,108 Nat'l #14,504/41,679 Middle Case Middle School F NY #566/729 Nat'l #9,290/14,009 High Watertown Senior High School A+ NY #231/1,100 Nat'l #375/17,239

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

C Composite livability gradescore 68/100

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 · 111,748 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: 12% of renters

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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%

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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%

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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

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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

-36.0% since first listed

9 events — show timeline

• 2026-05-11 Relisted — CNYIS
• 2026-02-05 Pending — CNYIS
• 2025-09-27 Contingent — CNYIS
• 2025-07-30 Listed $160,000 CNYIS
• 2016-02-10 Listing Removed — MARMLS
• 2015-08-10 Listed $229,000 MARMLS
• 2007-08-27 Sold (Public Records) $244,900 Public Records
• 2007-08-24 Sold (MLS) $244,900 CNYIS
• 2007-02-16 Listed $249,900 CNYIS

Property tax history

+18.2%/yr

Latest (2025): $3,232 · +2.0% YoY. Source: county tax records.