32 Elm St · Potsdam, NY 13676

$249,000

7 bd · 3.0 ba · 2,864 sqft · MultiFamily public records · 170 Days on market

Built 1900 Good condition $87/sqft · 8% above area Est $310k · 20% 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 +19.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +6.8/10.0
• 1% rule +6.6/10.0
• DSCR +6.1/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0

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

This late 19th century folk Victorian home blends original character with classic Upstate charm. Thoughtfully maintained with updates, the property offers 2,864 sq ft and an additional 1,000 sq ft in the separate, fully renovated attached apartment. Nestled on a corner lot with a wrap-around paved drive, boasting 217 combined feet of frontage along Elm Street, Lawrence Avenue, and Leroy Street—right in the heart of the village. Enjoy the convenience of being within walking distance of downtown shops, restaurants, movie theater, schools, universities, and the hospital. The bright and spacious main house offers four to five bedrooms and two bathrooms, highlighted by distinctive architectural details such as original moldings and doors, double staircases, high ceilings, and generous rooms. The main level features a fully equipped kitchen, double living rooms, laundry room, and a half bath. Upstairs, the second floor offers four to five bedrooms and a full bath. Updates include a high-efficiency natural gas furnace, upgraded electrical with added circuitry, updated windows, a fire suppression system, and more. The attached apartment, fully renovated down to the studs in 1995, features in-floor heat, new plumbing and electrical, a well-designed main floor layout with a full bath, and two bedrooms upstairs. With its prime location, and timeless appeal, this home is already generating income and is ready for its next chapter. Don’t miss your opportunity to own this impressive residence, attractively priced at $65 per square foot. Schedule a tour today!

Key facts

• In-floor heat
• Corner lot
• Built 1900

Tags

• CORNER LOT
• WRAP-AROUND PAVED DRIVE
• WALKING DISTANCE OF DOWNTOWN
• FULLY EQUIPPED KITCHEN
• FIRE SUPPRESSION SYSTEM
• IN-FLOOR HEAT

What this means for you Summary

Snapshot

• This is a 7-bed/3.0-bath multifamily listed at $249k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.6% 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: 147 active listings in the ZIP; 215 units permitted in St. Lawrence County in 2024 (0 in 5+ unit buildings).
• At $2,900/mo this rent would consume 61% of the median local household income ($57k/yr) (locally 25% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k 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 $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $23k; list at $249k implies a 983% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.16% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.70%
• DSCR: 1.21
• GRM: 7.2

CMA / ARV

• ARV (median comp): $309,698
• List price: $249,000
• Delta: -19.60%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Garden St	0.27mi	6/2.0 (-1)	2,720 (-5%)	16mo	$143,500	$53	57
78 Elm St	0.39mi	6/3.0 (-1)	2,728 (-5%)	36mo	$175,000	$64	49
7A, 7B Pierrepont Ave	0.16mi	7/3.0	3,384 (+18%)	24mo	$165,000	$49	48
24 Pierrepont Ave	0.30mi	6/2.0 (-1)	2,689 (-6%)	28mo	$89,000	$33	47
52 Bay St	0.32mi	6/1.5 (-1)	2,400 (-16%)	4mo	$120,000	$50	46
12 A & B Willow St	0.34mi	6/2.0 (-1)	2,288 (-20%)	17mo	$173,900	$76	36
89 Market St	0.37mi	6/4.5 (-1)	2,358 (-18%)	18mo	$210,000	$89	32
22 Cherry St	0.68mi	7/2.5	3,512 (+23%)	34mo	$237,000	$67	21
27 27 1/2 Pine St	0.74mi	6/4.0 (-1)	2,209 (-23%)	32mo	$200,000	$91	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: 27.7%
• Equity multiple: 3.20×
• Total profit: $153,248
• Equity at exit: $224,319

10-year hold

• IRR: 24.2%
• Equity multiple: 7.28×
• Total profit: $438,049
• Equity at exit: $483,752

Cash invested: $69,720 (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 →

Active competition Active MLS

• For sale now: 4 active
• Median asking: $200,000 ($78/sqft)
• Median days on market: 515 d
• This list price: 75% of active listings are priced below it
• ARV vs active asking: +38.2% above current asking $/sqft

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: 147
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,900 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$608 /mo · $7,297/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $273

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,900
Total (2 units)			$2,900

Break-even live

Break-even rent $2,554

Max offer price $249,000

Occupancy floor 86%

Sensitivity live

Price	-10% $414	-5% $344	+0% $273	+5% $203	+10% $132
Rent	-10% $44	-5% $159	+0% $273	+5% $388	+10% $502
Rate	-1.0pp $399	-0.5pp $337	base $273	+0.5pp $209	+1.0pp $143

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: $62,250
• Closing costs: $7,470
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Carol Ct Potsdam, NY	2.0	1.0	1278	$1,450	$1.13	93d	1	0.39mi
206 Outer Main St Potsdam, NY	3.0	1.0–3.0	—	$1,519	—	93d	1	1.01mi

Listing history 50 events

1. 2026-08-08
   days on market $249,000 Active 170 DOM
2. 2026-08-07
   days on market $249,000 Active 169 DOM
3. 2026-08-06
   days on market $249,000 Active 168 DOM
4. 2026-08-05
   days on market $249,000 Active 167 DOM
5. 2026-08-04
   days on market $249,000 Active 166 DOM
6. 2026-08-03
   days on market $249,000 Active 165 DOM
7. 2026-07-31
   days on market $249,000 Active 162 DOM
8. 2026-07-30
   days on market $249,000 Active 161 DOM
9. 2026-07-29
   days on market $249,000 Active 160 DOM
10. 2026-07-27
    days on market $249,000 Active 158 DOM
11. 2026-07-25
    days on market $249,000 Active 156 DOM
12. 2026-07-24
    days on market $249,000 Active 155 DOM
13. 2026-07-23
    days on market $249,000 Active 154 DOM
14. 2026-07-22
    days on market $249,000 Active 153 DOM
15. 2026-07-21
    days on market $249,000 Active 152 DOM
16. 2026-07-20
    days on market $249,000 Active 151 DOM
17. 2026-07-18
    days on market $249,000 Active 149 DOM
18. 2026-07-16
    days on market $249,000 Active 147 DOM
19. 2026-07-15
    days on market $249,000 Active 146 DOM
20. 2026-07-14
    days on market $249,000 Active 145 DOM
21. 2026-07-13
    days on market $249,000 Active 144 DOM
22. 2026-07-12
    days on market $249,000 Active 143 DOM
23. 2026-07-12
    days on market $249,000 Active 142 DOM
24. 2026-07-10
    days on market $249,000 Active 141 DOM
25. 2026-07-09
    days on market $249,000 Active 140 DOM
26. 2026-07-07
    days on market $249,000 Active 138 DOM
27. 2026-07-06
    days on market $249,000 Active 137 DOM
28. 2026-07-05
    days on market $249,000 Active 136 DOM
29. 2026-07-05
    days on market $249,000 Active 135 DOM
30. 2026-07-03
    days on market $249,000 Active 134 DOM
31. 2026-07-03
    days on market $249,000 Active 133 DOM
32. 2026-07-01
    days on market $249,000 Active 132 DOM
33. 2026-06-30
    days on market $249,000 Active 131 DOM
34. 2026-06-29
    days on market $249,000 Active 130 DOM
35. 2026-06-28
    days on market $249,000 Active 129 DOM
36. 2026-06-27
    days on market $249,000 Active 128 DOM
37. 2026-06-26
    days on market $249,000 Active 127 DOM
38. 2026-06-22
    days on market $249,000 Active 123 DOM
39. 2026-06-21
    days on market $249,000 Active 122 DOM
40. 2026-06-21
    days on market $249,000 Active 121 DOM
41. 2026-06-18
    days on market $249,000 Active 119 DOM
42. 2026-06-17
    days on market $249,000 Active 118 DOM
43. 2026-06-16
    days on market $249,000 Active 117 DOM
44. 2026-06-15
    days on market $249,000 Active 116 DOM
45. 2026-06-13
    days on market $249,000 Active 114 DOM
46. 2026-06-12
    days on market $249,000 Active 113 DOM
47. 2026-06-09
    days on market $249,000 Active 110 DOM
48. 2026-06-08
    days on market $249,000 Active 109 DOM
49. 2026-06-07
    days on market $249,000 Active 108 DOM
50. 2026-06-07
    days on market $249,000 Active 107 DOM

ⓘ 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: $7,297 · $608/mo
• Projected year-2 tax: $7,297 · $608/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 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: $34,800
• − Mortgage interest: −$13,948
• − Property taxes: −$7,297
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − Depreciation: −$7,244
• Taxable loss: −$502
• Est. tax savings @ 24.0%: +$120
• After-tax cash flow: $3,401/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 · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $14,320–$42,960 screening

This late 19th century folk Victorian home offers a good condition with fresh paint and well-maintained landscaping, making it a good investment for both resale and rental.

Value-add opportunities

• Both Paint exterior — Fresh paint enhances curb appeal and value ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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

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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%

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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%

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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

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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

+982.6% since first listed

2 events — show timeline

• 2026-02-19 Listed $249,000 SLCMLS
• 1997-06-02 Sold (Public Records) $23,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $7,297 · +6.6% YoY. Source: county tax records.