32 Elm St · Potsdam, NY 13676

$249,000

7 bd · 3.0 ba · 2,864 sqft · MultiFamily public records · 121 Days on market

Built 1900 $87/sqft · 9% below area Est $369k · 33% 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
• 1% rule +6.6/10.0
• DSCR +6.1/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +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.

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 4.9% 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.
• Market conditions: 118 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 $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 121 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 121 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): $368,978
• List price: $249,000
• Delta: -32.52%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

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 →

ZIP-level market 13676

• Home prices YoY: 17.7%
• Active inventory: 118
• 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

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

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

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
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $249,000 Active 121 DOM
2. 2026-06-18
   days on market $249,000 Active 119 DOM
3. 2026-06-17
   days on market $249,000 Active 118 DOM
4. 2026-06-16
   days on market $249,000 Active 117 DOM
5. 2026-06-15
   days on market $249,000 Active 116 DOM
6. 2026-06-13
   days on market $249,000 Active 114 DOM
7. 2026-06-12
   days on market $249,000 Active 113 DOM
8. 2026-06-09
   days on market $249,000 Active 110 DOM
9. 2026-06-08
   days on market $249,000 Active 109 DOM
10. 2026-06-07
    days on market $249,000 Active 108 DOM
11. 2026-06-07
    days on market $249,000 Active 107 DOM
12. 2026-06-04
    days on market $249,000 Active 104 DOM
13. 2026-06-02
    days on market $249,000 Active 103 DOM
14. 2026-06-01
    days on market $249,000 Active 102 DOM
15. 2026-05-31
    days on market $249,000 Active 101 DOM
16. 2026-02-19
    listed $249,000 Active 1583-char remark

    Show marketing remark (1583 chars)

    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!

17. 1997-06-02
    soldstatus $23,000

ⓘ 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: $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.

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

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
• City population: 2,123
• Population (ZIP): 13,408

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

+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.