352 S Real St · Cape Vincent, NY 13618

$139,900

3 bd · 1.5 ba · 2,331 sqft · SingleFamily public records · 96 Days on market

Built 1838 0.31 ac lot $60/sqft · 56% below area

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Why this score? — see what drove the C- 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 +14.4/30.0
• Appreciation +9.7/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +4.9/10.0
• DSCR +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

If you've been searching for a home close to the St Lawrence, this one is just a few blocks away. Situated on a flat lot, with a huge backyard this spacious home is waiting for you to call it home. There is an attached garage to make winter days easier. This house really shines in the summer, sitting in the heart of Cape Vincent this home is spacious and ready for your finishing touches. There is a lot of space, with a number of layout options. There is a large kitchen so it could be made into an eat in kitchen, but there is also space for a formal dining room. There is a bright sunny room for all of the plant lovers out there. It overlooks the backyard. The living room has a pellet stove, wood floors and has lots of space. There is also a half bath on this floor. Upstairs you'll find a main bedroom, spacious enough for all of the furniture, dressers, king size bed, and more. The walk through closet leads to an en-suite bath. There are 4 more bedrooms on this level and another full bath.

Key facts

• Walk through closet
• Attached garage
• Huge backyard

Tags

• HUGE BACKYARD
• ATTACHED GARAGE
• LARGE KITCHEN
• BRIGHT SUNNY ROOM
• PELLET STOVE
• WALK THROUGH CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $28 ($334/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (1.0% below list).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#615 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, schools B; Watch: health & safety D, crime F, amenities F.
• Thousand Islands Central School District (rural): math 60% / reading 56% proficiency, ranked #262 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 35 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($967 loan paydown + $13k appreciation (9.4% local appreciation)).
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.4% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1838 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1838 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.85%
• DSCR: 1.04
• GRM: 8.4

CMA / ARV

• ARV (median comp): $319,279
• List price: $139,900
• Delta: -56.18%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 William St	0.57mi	3/2.0	2,212 (-5%)	7mo	$288,000	$130	57
485 E Joseph St	0.39mi	3/2.0	2,022 (-13%)	10mo	$225,000	$111	49

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

Projected returns pro-forma

9.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 2.85×
• Total profit: $72,288
• Equity at exit: $119,906

10-year hold

• IRR: 21.2%
• Equity multiple: 6.37×
• Total profit: $210,308
• Equity at exit: $252,327

Cash invested: $39,172 (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 13618

• Home prices YoY: 2.7%
• Active inventory: 35
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,385 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$275 /mo · $3,294/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $28

Break-even live

Break-even rent $1,350

Max offer price $139,900

Occupancy floor 93%

Sensitivity live

Price	-10% $107	-5% $67	+0% $28	+5% $-12	+10% $-51
Rent	-10% $-82	-5% $-27	+0% $28	+5% $83	+10% $137
Rate	-1.0pp $98	-0.5pp $63	base $28	+0.5pp $-8	+1.0pp $-45

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-16
   status $139,900 Pending 96 DOM
2. 2026-06-15
   days on market $139,900 Active 96 DOM
3. 2026-06-14
   days on market $139,900 Active 94 DOM
4. 2026-06-12
   days on market $139,900 Active 93 DOM
5. 2026-06-09
   days on market $139,900 Active 90 DOM
6. 2026-06-08
   days on market $139,900 Active 89 DOM
7. 2026-06-07
   days on market $139,900 Active 88 DOM
8. 2026-06-02
   days on market $139,900 Active 83 DOM
9. 2026-06-01
   days on market $139,900 Active 82 DOM
10. 2026-05-31
    days on market $139,900 Active 81 DOM
11. 2026-05-30
    days on market $139,900 Active 80 DOM
12. 2026-05-07
    price $139,900 1002-char remark

    Show marketing remark (1002 chars)

    If you've been searching for a home close to the St Lawrence, this one is just a few blocks away. Situated on a flat lot, with a huge backyard this spacious home is waiting for you to call it home. There is an attached garage to make winter days easier. This house really shines in the summer, sitting in the heart of Cape Vincent this home is spacious and ready for your finishing touches. There is a lot of space, with a number of layout options. There is a large kitchen so it could be made into an eat in kitchen, but there is also space for a formal dining room. There is a bright sunny room for all of the plant lovers out there. It overlooks the backyard. The living room has a pellet stove, wood floors and has lots of space. There is also a half bath on this floor. Upstairs you'll find a main bedroom, spacious enough for all of the furniture, dressers, king size bed, and more. The walk through closet leads to an en-suite bath. There are 4 more bedrooms on this level and another full bath.

13. 2026-03-11
    listed $149,900 Active 1002-char remark

    Show marketing remark (1002 chars)

    If you've been searching for a home close to the St Lawrence, this one is just a few blocks away. Situated on a flat lot, with a huge backyard this spacious home is waiting for you to call it home. There is an attached garage to make winter days easier. This house really shines in the summer, sitting in the heart of Cape Vincent this home is spacious and ready for your finishing touches. There is a lot of space, with a number of layout options. There is a large kitchen so it could be made into an eat in kitchen, but there is also space for a formal dining room. There is a bright sunny room for all of the plant lovers out there. It overlooks the backyard. The living room has a pellet stove, wood floors and has lots of space. There is also a half bath on this floor. Upstairs you'll find a main bedroom, spacious enough for all of the furniture, dressers, king size bed, and more. The walk through closet leads to an en-suite bath. There are 4 more bedrooms on this level and another full bath.

14. 2025-12-14
    historical
15. 2025-12-12
    historical
16. 2025-12-12
    historical
17. 2025-12-11
    historical
18. 2025-07-28
    price $149,900
19. 2025-07-10
    listed $159,900 Active
20. 2011-04-12
    soldstatus $136,000
21. 2011-04-07
    soldstatus $136,000
22. 2010-05-12
    listed $145,000
23. 2004-10-01
    soldstatus $40,000
24. 2004-02-23
    soldstatus $42,303

ⓘ 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: $3,294 · $275/mo
• Projected year-2 tax: $3,294 · $275/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 ≥87°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,622
• − Mortgage interest: −$7,837
• − Property taxes: −$3,294
• − Insurance: −$700
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$4,070
• Taxable loss: −$1,938
• Est. tax savings @ 24.0%: +$465
• After-tax cash flow: $799/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: Thousand Islands Central School District
• NCES district ID: 3607650
• Math proficiency: 60% ▼ -2.00%
• Reading proficiency: 56% ▼ -2.00%
• Median HH income: $55,233
• Composite: 49.94/100
• National rank: #1930
• State rank: #262 of 590 in NY

Livability — Cape Vincent

• Score: 67/100
• State rank: #615
• US rank: #11167

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Vincent, NY
• Population (ZIP): 1,696

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 9% Slovak 4% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 3% Other Indo-European 1% French/Haitian/Cajun 1%

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: ▲ 9.40%
• Current HPI: 360.5985
• 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

+230.7% since first listed

13 events — show timeline

• 2026-05-07 Price Changed $139,900 CNYIS
• 2026-03-11 Listed $149,900 CNYIS
• 2025-12-14 Listing Removed — CNYIS
• 2025-12-12 Listing Removed — CNYIS
• 2025-12-12 Listing Removed — CNYIS
• 2025-12-11 Listing Removed — CNYIS
• 2025-07-28 Price Changed $149,900 CNYIS
• 2025-07-10 Listed $159,900 CNYIS
• 2011-04-12 Sold (Public Records) $136,000 Public Records
• 2011-04-07 Sold (MLS) $136,000 CNYIS
• 2010-05-12 Listed $145,000 CNYIS
• 2004-10-01 Sold (Public Records) $40,000 Public Records
• 2004-02-23 Sold (Public Records) $42,303 Public Records

Property tax history

-0.1%/yr

Latest (2025): $3,294 · +2.1% YoY. Source: county tax records.