700 State St · Ogdensburg, NY 13669

$195,000

4 bd · 4.0 ba · 3,840 sqft · MultiFamily public records · 19 Days on market

Built 1874 0.27 ac lot

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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
• Appreciation +5.5/10.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Extremely well maintain apartment building with four very nicely remodeled units. Each unit is spacious with washer, dryer and appliances included. The windows are updated and the exterior is vinyl sided. The full, dry basement has ample storage areas for each apartment and an exterior entrance. There is plenty of off-street parking and the exterior is in great condition. The metal roof is only three years old. Water heater and boiler unit were new in February of 2015. Tenants pay their own electric but there is a fifth meter for hallway and exterior lights that the landlord takes care of which are on a timer. That bill runs 35 per month for the landlord's meter. The tenants have all been there between 4-8 years and are on a month-to-month basis. The landlord has raised the rent in quite some time, but apartments could definitely bring in more income.

Key facts

• Updated windows
• Vinyl sided exterior
• Remodeled units

Tags

• REMODELED UNITS
• UPDATED WINDOWS
• VINYL SIDED EXTERIOR
• FULL DRY BASEMENT
• AMPLE STORAGE AREAS
• EXTERIOR ENTRANCE

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $195k).
• Recommended offer: $192k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 5.3% in Ogdensburg — 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 66/100 on livability (#624 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D-, crime F.
• Ogdensburg City School District (town): math 34% / reading 46% proficiency, ranked #531 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 133 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 $3k of equity ($1k loan paydown + $2k appreciation (1.1% 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 (1.1% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago 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 $75k; list at $195k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1874 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $192,075 (1.5% below list)

Questions for the listing agent

1. Built in 1874 — 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. 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?
6. 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.
7. 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.
8. 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: 1.85% ✓
• Cap rate: 13.81%
• Cash-on-cash: 26.85%
• DSCR: 2.19
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $88,320
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 New York Ave	0.61mi	4/4.0	3,469 (-10%)	20mo	$80,000	$23	39

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

Projected returns pro-forma

1.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.3%
• Equity multiple: 2.51×
• Total profit: $82,333
• Equity at exit: $67,253

10-year hold

• IRR: 31.8%
• Equity multiple: 4.85×
• Total profit: $210,232
• Equity at exit: $89,903

Cash invested: $54,600 (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 →

ZIP-level market 13669

• Home prices YoY: 0.4%
• Active inventory: 133
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $3,609 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$525 /mo · $6,305/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$758
• Net cashflow: $1,222

Break-even live

Break-even rent $2,062

Max offer price $195,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,332	-5% $1,277	+0% $1,222	+5% $1,167	+10% $1,111
Rent	-10% $937	-5% $1,079	+0% $1,222	+5% $1,364	+10% $1,507
Rate	-1.0pp $1,320	-0.5pp $1,271	base $1,222	+0.5pp $1,171	+1.0pp $1,120

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,608
Total (4 units)			$3,609

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-09
   status $195,000 Pending 19 DOM
2. 2026-06-08
   days on market $195,000 Active 19 DOM
3. 2026-06-07
   days on market $195,000 Active 18 DOM
4. 2026-06-07
   days on market $195,000 Active 17 DOM
5. 2026-06-04
   days on market $195,000 Active 14 DOM
6. 2026-06-02
   days on market $195,000 Active 13 DOM
7. 2026-06-01
   days on market $195,000 Active 12 DOM
8. 2026-05-31
   days on market $195,000 Active 11 DOM
9. 2026-05-20
   listed $195,000 Active 863-char remark

   Show marketing remark (863 chars)

   Extremely well maintain apartment building with four very nicely remodeled units. Each unit is spacious with washer, dryer and appliances included. The windows are updated and the exterior is vinyl sided. The full, dry basement has ample storage areas for each apartment and an exterior entrance. There is plenty of off-street parking and the exterior is in great condition. The metal roof is only three years old. Water heater and boiler unit were new in February of 2015. Tenants pay their own electric but there is a fifth meter for hallway and exterior lights that the landlord takes care of which are on a timer. That bill runs 35 per month for the landlord's meter. The tenants have all been there between 4-8 years and are on a month-to-month basis. The landlord has raised the rent in quite some time, but apartments could definitely bring in more income.

10. 2016-07-13
    soldstatus $75,000
11. 2016-07-12
    soldstatus $75,000 641-char remark

    Show marketing remark (641 chars)

    A-1 Shape four family on State St. Ogdensburg-All units come w/ all appliances (stove-refrig. washer & dryer) w/ off st parking. The property has stone/vinyl exterior w/ insulated windows. The interior is modern and has natural woodwork-Ea. unit has its own C/B box(tenants pay own Elec. )-owners elec-$480 per Yr. The gas heating system was just all done over (JMS)w/ owner paying annual gas ($1800). Owner pays trash -grass & snow =$2,000 per Yr. =annual ins. =$1800- city inspection (every 3-years)-($90 per unit)=$360-annual water & sewer(4-units)=$2200 -total expenses=$8640.This property has annual income of $22,200.

12. 2015-12-14
    listed $114,000 641-char remark

    Show marketing remark (641 chars)

    A-1 Shape four family on State St. Ogdensburg-All units come w/ all appliances (stove-refrig. washer & dryer) w/ off st parking. The property has stone/vinyl exterior w/ insulated windows. The interior is modern and has natural woodwork-Ea. unit has its own C/B box(tenants pay own Elec. )-owners elec-$480 per Yr. The gas heating system was just all done over (JMS)w/ owner paying annual gas ($1800). Owner pays trash -grass & snow =$2,000 per Yr. =annual ins. =$1800- city inspection (every 3-years)-($90 per unit)=$360-annual water & sewer(4-units)=$2200 -total expenses=$8640.This property has annual income of $22,200.

ⓘ 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: $6,305 · $525/mo
• Projected year-2 tax: $6,305 · $525/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 ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,308
• − Mortgage interest: −$10,923
• − Property taxes: −$6,305
• − Insurance: −$975
• − Repairs & maintenance: −$3,465
• − Management: −$3,465
• − Depreciation: −$5,673
• Taxable income: $12,502
• Est. tax owed @ 24.0%: −$3,001
• After-tax cash flow: $11,661/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: Ogdensburg City School District
• NCES district ID: 3621660
• Math proficiency: 34% ▼ -15.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $38,253
• Composite: 33.33/100
• National rank: #5497
• State rank: #531 of 590 in NY

Livability — Ogdensburg

• Score: 66/100
• State rank: #624
• US rank: #11365

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ogdensburg, NY
• Population (ZIP): 15,615

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 (91%)
• Race & ethnicity: White 91% Black 4% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 10% Polish 6% Slovak 3%
• Foreign-born: 3% · Canada, China, Jamaica
• Languages at home: 89% English-only · German/W. Germanic 9% Spanish 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: ▲ 1.07%
• Current HPI: 264.0261
• 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

+71.1% since first listed

4 events — show timeline

• 2026-05-20 Listed $195,000 SLCMLS
• 2016-07-13 Sold (Public Records) $75,000 Public Records
• 2016-07-12 Sold (MLS) $75,000 SLCMLS
• 2015-12-14 Listed $114,000 SLCMLS

Property tax history

+11.4%/yr

Latest (2025): $6,305 · +0.4% YoY. Source: county tax records.