815 Ann St · Watertown, NY 13601

$79,900

4 bd · 1.0 ba · 1,394 sqft · SingleFamily public records · 25 Days on market

Built 1900 Fair condition 5,310 sqft lot Garage $57/sqft · 50% below area Est $159k · 50% under ↓ 35% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.6/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious Home with Renovation Potential – Opportunity to complete what the seller started and customize this home to suit your needs. Several updates have already been completed and many have been started, offering a solid foundation for finishing touches and improvements. The property includes three bedrooms boasting beautiful hardwood flooring and the potential for two full bathrooms. A first-floor full bath and laundry area are partially completed, while a second-floor bathroom has been taken down to the studs and is ready for redesign. Cabinets are on site and ready for installation in the large kitchen showcasing an immaculate tin ceiling.

Key facts

• Hardwood flooring
• Tin ceiling
• Formal dining room

Tags

• HARDWOOD FLOORING
• FIRST FLOOR FULL BATH
• LAUNDRY AREA
• LARGE KITCHEN
• TIN CEILING
• FORMAL DINING ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $804 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.4% vs local median 6.1% in Watertown — 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 68/100 on livability (#540 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A-, housing A-; Watch: amenities C-, crime F, commute F.
• Watertown City School District (urban): math 34% / reading 54% proficiency, ranked #481 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Elementary School (math 32% / reading 62%, grade D-, #1,195 of 2,108 statewide, top 60%, 455 students, 71% FRL); Case Middle School (math 17% / reading 41%, grade F, #566 of 729 statewide, top 78%, 626 students, 70% FRL); Watertown Senior High School (math 89% / reading 92%, grade A+, #231 of 1,100 statewide, top 21%, 1,083 students, 65% FRL) — zoned schools average 69% FRL vs 49% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.0%/yr); 294 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jefferson County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.16% ✓
• Cap rate: 18.37%
• Cash-on-cash: 43.12%
• DSCR: 2.92
• GRM: 3.9

CMA / ARV

• ARV (median comp): $158,936
• List price: $79,900
• Delta: -35.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
158 Cedar St	0.44mi	3/1.0 (-1)	1,374 (-1%)	3mo	$155,000	$113	70
509 Plum Ave	0.11mi	4/1.5	1,200 (-14%)	5mo	$102,500	$85	65
160 Breen Ave	0.48mi	4/3.0	1,344 (-4%)	0mo	$199,900	$149	63
660 Cooper St	0.66mi	4/1.0	1,417 (+2%)	4mo	$132,900	$94	63
662 Davidson St	0.58mi	3/2.0 (-1)	1,410 (+1%)	1mo	$219,000	$155	61
857 Superior St	0.21mi	3/1.0 (-1)	1,194 (-14%)	3mo	$175,000	$147	59
154 Breen Ave	0.49mi	3/2.5 (-1)	1,480 (+6%)	1mo	$204,900	$138	55
646 Cooper St	0.66mi	4/1.0	1,519 (+9%)	4mo	$195,000	$128	51
327 W Lynde St	0.50mi	3/2.0 (-1)	1,295 (-7%)	7mo	$232,000	$179	50
610 Cooper St	0.67mi	4/1.0	1,603 (+15%)	0mo	$190,000	$119	44
211 W Lynde St	0.63mi	3/2.0 (-1)	1,554 (+12%)	2mo	$190,000	$122	41
212 S Meadow	0.68mi	3/2.0 (-1)	1,240 (-11%)	7mo	$100,000	$81	35

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 45.6%
• Equity multiple: 3.12×
• Total profit: $47,417
• Equity at exit: $11,913

10-year hold

• IRR: 53.6%
• Equity multiple: 7.66×
• Total profit: $148,916
• Equity at exit: $6,908

Cash invested: $22,372 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 28 active · 16 under contract
• Months of supply: 8.8 mo (11%/mo absorbed)
• Median asking: $164,900 ($108/sqft)
• Median days on market: 43 d
• This list price: 7% of active listings are priced below it
• ARV vs active asking: +6.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 13601

• Home prices YoY: -5.6%
• Rents YoY: 10.0%
• Active inventory: 294
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,728 high
• Mortgage (P&I): −$419
• Tax from tax record: −$109 /mo · $1,310/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $804

Break-even live

Break-even rent $711

Max offer price $79,900

Occupancy floor 48%

Sensitivity live

Price	-10% $849	-5% $826	+0% $804	+5% $781	+10% $759
Rent	-10% $667	-5% $736	+0% $804	+5% $872	+10% $940
Rate	-1.0pp $844	-0.5pp $824	base $804	+0.5pp $783	+1.0pp $762

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: $19,975
• Closing costs: $2,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
611 Cooper St Watertown, NY	3.0	1.0	1190	$1,495	$1.26	93d	1	0.64mi
207 Wealtha Ave Watertown, NY	2.0–4.0	1.0–2.5	1435	$1,695	$1.18	93d	9	0.82mi
328 Clay St Unit 3 Watertown, NY	3.0	2.0	1500	$1,650	$1.10	93d	1	1.14mi
123 State Pl Watertown, NY	3.0	1.5	1500	$1,750	$1.17	93d	1	1.28mi
621 Academy St Watertown, NY	3.0	2.0	1652	$1,600	$0.97	93d	1	1.36mi

Property features AI

Exterior

• Parking: Detached garageTwo garage spaces
• Utilities: Public water connectedSewer connected
• Home design: Two-story houseResale property
• Construction: Wood siding and shake sidingAsphalt roofStone foundationExisting (year built details not specified)
• Exterior features: Blacktop drivewayRectangular residential lot, approximately 59 x 90

Interior

• Bedrooms: One bedroom on the main level
• Flooring: HardwoodLuxury vinylVaried flooring
• Bathrooms: Two full bathroomsOne bathroom on the main level
• Heating & cooling: Gas forced-air heating
• Interior features: DenBathroom rough-inOther (see remarks)Bedroom on main levelFull basement
• Laundry & utility: Main-level laundry

Listing history 50 events

1. 2026-08-08
   days on market $79,900 Active 25 DOM
2. 2026-08-07
   days on market $79,900 Active 24 DOM
3. 2026-08-06
   days on market $79,900 Active 23 DOM
4. 2026-08-05
   days on market $79,900 Active 22 DOM
5. 2026-08-04
   days on market $79,900 Active 21 DOM
6. 2026-08-03
   days on market $79,900 Active 20 DOM
7. 2026-07-31
   days on market $79,900 Active 17 DOM
8. 2026-07-30
   days on market $79,900 Active 16 DOM
9. 2026-07-29
   days on market $79,900 Active 15 DOM
10. 2026-07-27
    days on market $79,900 Active 13 DOM
11. 2026-07-25
    days on market $79,900 Active 11 DOM
12. 2026-07-23
    days on market $79,900 Active 9 DOM
13. 2026-07-22
    days on market $79,900 Active 8 DOM
14. 2026-07-21
    days on market $79,900 Active 7 DOM
15. 2026-07-18
    days on market $79,900 Active 4 DOM
16. 2026-07-16
    days on market $79,900 Active 2 DOM
17. 2026-07-14
    pricedays on marketlisting id $79,900 Active 1 DOM
18. 2026-07-13
    days on market $102,900 Active 70 DOM
19. 2026-07-12
    days on market $102,900 Active 69 DOM
20. 2026-07-11
    days on market $102,900 Active 68 DOM
21. 2026-07-10
    days on market $102,900 Active 67 DOM
22. 2026-07-09
    days on market $102,900 Active 66 DOM
23. 2026-07-08
    days on market $102,900 Active 65 DOM
24. 2026-07-07
    days on market $102,900 Active 64 DOM
25. 2026-07-06
    days on market $102,900 Active 63 DOM
26. 2026-07-05
    days on market $102,900 Active 62 DOM
27. 2026-07-04
    days on market $102,900 Active 61 DOM
28. 2026-07-03
    days on market $102,900 Active 60 DOM
29. 2026-07-02
    days on market $102,900 Active 59 DOM
30. 2026-07-01
    days on market $102,900 Active 58 DOM
31. 2026-06-30
    days on market $102,900 Active 57 DOM
32. 2026-06-29
    days on market $102,900 Active 56 DOM
33. 2026-06-28
    days on market $102,900 Active 55 DOM
34. 2026-06-27
    days on market $102,900 Active 54 DOM
35. 2026-06-26
    pricedays on market $102,900 Active 52 DOM
36. 2026-06-22
    days on market $110,000 Active 49 DOM
37. 2026-06-21
    days on market $110,000 Active 48 DOM
38. 2026-06-19
    days on market $110,000 Active 46 DOM
39. 2026-06-18
    days on market $110,000 Active 45 DOM
40. 2026-06-17
    days on market $110,000 Active 44 DOM
41. 2026-06-16
    days on market $110,000 Active 43 DOM
42. 2026-06-15
    days on market $110,000 Active 42 DOM
43. 2026-06-14
    days on market $110,000 Active 40 DOM
44. 2026-06-12
    days on market $110,000 Active 39 DOM
45. 2026-06-09
    days on market $110,000 Active 36 DOM
46. 2026-06-08
    days on market $110,000 Active 35 DOM
47. 2026-06-07
    days on market $110,000 Active 34 DOM
48. 2026-06-05
    days on market $110,000 Active 31 DOM
49. 2026-06-03
    days on market $110,000 Active 30 DOM
50. 2026-06-02
    days on market $110,000 Active 29 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: $1,310 · $109/mo
• Projected year-2 tax: $1,330 · $111/mo
• Expected delta: +$20/yr (+$2/mo · 1.5%)

ⓘ 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 ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,740
• − Mortgage interest: −$4,476
• − Property taxes: −$1,310
• − Insurance: −$400
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$2,324
• Taxable income: $8,911
• Est. tax owed @ 24.0%: −$2,139
• After-tax cash flow: $7,508/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $34,850–$62,730 screening

This home requires moderate renovations, focusing on the roof, exterior, and landscaping to improve its value and appeal.

Deferred maintenance Est. $40,000–$120,000 screening

• Major Roof (roof) — The roof appears to be in poor condition with visible damage and missing shingles.
• Major Windows (windows) — The windows seem to be old and possibly in need of replacement.
• Major Electrical (electrical) — The electrical panel appears to be old and may need an upgrade or replacement.
• Major Plumbing (plumbing) — The exterior of the house shows signs of water damage, indicating potential plumbing issues.

Repairs flagged

• Major roof — Significant wear visible from aerial view
• Major exterior siding — Weathered and peeling
• Major fencing — Old and in need of repair

Value-add opportunities

• Both Landscaping and fencing repair — Improves curb appeal and safety ↑
• Both Roof replacement — Essential for structural integrity and value ↑
• Both Exterior painting — Enhances curb appeal and property value ↑

ⓘ Rehab cost is a screening estimate — Moderate 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.

D Composite school gradezoned avg 56/100

Zoned Schools

Elementary North Elementary School D- NY #1,195/2,108 Nat'l #14,504/41,679 Middle Case Middle School F NY #566/729 Nat'l #9,290/14,009 High Watertown Senior High School A+ NY #231/1,100 Nat'l #375/17,239

Schools (NCES district)

• District: Watertown City School District
• NCES district ID: 3630120
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 54% ▲ 12.00%
• Median HH income: $40,919
• Composite: 36.86/100
• National rank: #4551
• State rank: #481 of 590 in NY

C Composite livability gradescore 68/100

Livability — Watertown

• Score: 68/100
• State rank: #540
• US rank: #9700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watertown, NY
• County: Jefferson County · 111,748 people
• City population: 36,839
• Metro: Watertown-Fort Drum, NY
• Population (ZIP): 36,839
• Household income: $58,791
• Rent vs Own: 51.4% rent · 48.6% own
• Severe rent burden: 12% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 7% Hispanic / Latino 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 7% Romanian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

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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: ▼ -18.86%
• Current HPI: 316.636
• Rent YoY: ▲ 9.96%
• Metro: Watertown-Fort Drum, NY
• 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

Property features AI

Exterior

• Parking: Detached garageTwo garage spaces
• Utilities: Public water connectedSewer connected
• Home design: Two-story houseResale property
• Construction: Wood siding and shake sidingAsphalt roofStone foundationExisting (year built details not specified)
• Exterior features: Blacktop drivewayRectangular residential lot, approximately 59 x 90

Interior

• Bedrooms: One bedroom on the main level
• Flooring: HardwoodLuxury vinylVaried flooring
• Bathrooms: Two full bathroomsOne bathroom on the main level
• Heating & cooling: Gas forced-air heating
• Interior features: DenBathroom rough-inOther (see remarks)Bedroom on main levelFull basement
• Laundry & utility: Main-level laundry

Price history

-35.0% since first listed

5 events — show timeline

• 2026-07-14 Listed $79,900 CNYIS
• 2026-07-13 Listing Removed — CNYIS
• 2026-06-24 Price Changed $102,900 CNYIS
• 2026-05-19 Price Changed $110,000 CNYIS
• 2026-05-04 Listed $122,900 CNYIS

Property tax history

+18.7%/yr

Latest (2025): $1,310 · +3.9% YoY. Source: county tax records.