1-3 Grove St · Ogdensburg, NY 13669

$69,500

3 bd · 2.0 ba · 1,380 sqft · MultiFamily public records · 4 Days on market

Built 1860 4,510 sqft lot Est $63k · 9% over

---

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
• Appreciation +5.5/10.0
• Schools +3.3/10.0
• Livability +3.3/5.0
• ARV discount +3.2/15.0
• 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: 2 units. confirmed

Listing remarks MLS

2 family home being offered at a great price with lots of great updates. instant income. (Unit 1)- 2 BR, 1 Bath @ $500/month (Unit 2) 1BR, 1Bath @ $450/month.

Key facts

• Cement driveway
• Fenced backyard
• 4,510 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• MONTHLY RENTAL INCOME
• LAWN CARE AND SNOW REMOVAL
• FENCED BACKYARD
• VIEWS OF THE OSWEGATCHIE RIVER
• CEMENT DRIVEWAY

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×1bd/1ba units multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $760 ($9k/yr) — positive. Per door: $380/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 19.4% 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: 127 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 $1k of equity ($481 loan paydown + $742 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 $23k; list at $70k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,500

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1860 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.39% ✓
• Cap rate: 19.42%
• Cash-on-cash: 46.88%
• DSCR: 3.09
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $63,480
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1-3 Grove	0.59mi	3/2.0	1,380 (0%)	18mo	$63,222	$46	57

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: 49.6%
• Equity multiple: 3.57×
• Total profit: $50,014
• Equity at exit: $23,970

10-year hold

• IRR: 51.2%
• Equity multiple: 7.14×
• Total profit: $119,510
• Equity at exit: $32,042

Cash invested: $19,460 (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: 127
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,661 medium
• Mortgage (P&I): −$364
• Tax from tax record: −$159 /mo · $1,903/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $760

Break-even live

Break-even rent $699

Max offer price $69,500

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$844
1× unit	1	1	$817
Total (2 units)			$1,661

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-25
   status Pending
2. 2026-04-21
   listed $69,500 Active
3. 2016-11-01
   soldstatus $23,000
4. 2016-10-31
   soldstatus $23,000 160-char remark

   Show marketing remark (160 chars)

   2 family home being offered at a great price with lots of great updates. instant income. (Unit 1)- 2 BR, 1 Bath @ $500/month (Unit 2) 1BR, 1Bath @ $450/month.

5. 2016-10-31
   soldstatus $23,000 160-char remark

   Show marketing remark (160 chars)

   2 family home being offered at a great price with lots of great updates. instant income. (Unit 1)- 2 BR, 1 Bath @ $500/month (Unit 2) 1BR, 1Bath @ $450/month.

6. 2016-03-27
   listed $30,000 160-char remark

   Show marketing remark (160 chars)

   2 family home being offered at a great price with lots of great updates. instant income. (Unit 1)- 2 BR, 1 Bath @ $500/month (Unit 2) 1BR, 1Bath @ $450/month.

7. 2016-03-02
   listed $30,000 160-char remark

   Show marketing remark (160 chars)

   2 family home being offered at a great price with lots of great updates. instant income. (Unit 1)- 2 BR, 1 Bath @ $500/month (Unit 2) 1BR, 1Bath @ $450/month.

ⓘ 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: $1,903 · $159/mo
• Projected year-2 tax: $1,903 · $159/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 ≥93°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: $19,932
• − Mortgage interest: −$3,893
• − Property taxes: −$1,903
• − Insurance: −$348
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$2,022
• Taxable income: $8,578
• Est. tax owed @ 24.0%: −$2,059
• After-tax cash flow: $7,064/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

+131.7% since first listed

7 events — show timeline

• 2026-04-25 Pending — SLCMLS
• 2026-04-21 Listed $69,500 SLCMLS
• 2016-11-01 Sold (Public Records) $23,000 Public Records
• 2016-10-31 Sold (MLS) $23,000 SLCMLS
• 2016-10-31 Sold (MLS) $23,000 CNYIS
• 2016-03-27 Listed $30,000 CNYIS
• 2016-03-02 Listed $30,000 SLCMLS

Property tax history

+2.9%/yr

Latest (2025): $1,903 · +18.0% YoY. Source: county tax records.