320 Morris St · Ogdensburg, NY 13669

$78,000

2 bd · 2.0 ba · 1,373 sqft · MultiFamily public records · 184 Days on market

Built 1900 4,988 sqft lot $57/sqft · 37% below area Est $124k · 37% under

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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
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This duplex two family home is close to parks, church and schools. The beautiful hardwood floors have been redone, and you will be able to keep the snow and rain off your car in the two-stall garage. Live in half and let the other half pay your mortgage. This is a great investment. Make your appointment today. Owner would pay the heat but tenant can pay the electric. Two 100 amp circuit breaker boxes. One rental water heater for both apartments. Shared driveway to get to two stall garage

Key facts

• Rental water heater
• Two stall garage
• Two family home

Tags

• HARDWOOD FLOORS
• TWO FAMILY HOME
• TWO STALL GARAGE
• RENTAL WATER HEATER

🏷️ Possibly a rental listed for sale. The $78,000 price doesn't fit this home's estimated sale value (~$123,522) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $78k.

Deal economics

• At list price, monthly cash flow is $776 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.2% 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 $1k of equity ($539 loan paydown + $832 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $30k; list at $78k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $68,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 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. 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 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?
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 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: 2.16% ✓
• Cap rate: 18.23%
• Cash-on-cash: 42.64%
• DSCR: 2.90
• GRM: 3.9

CMA / ARV

• ARV (median comp): $123,522
• List price: $78,000
• Delta: -36.85%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1-3 Grove	0.35mi	3/2.0 (+1)	1,380 (+0%)	18mo	$63,222	$46	63

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: 45.3%
• Equity multiple: 3.34×
• Total profit: $51,179
• Equity at exit: $26,901

10-year hold

• IRR: 47.1%
• Equity multiple: 6.65×
• Total profit: $123,324
• Equity at exit: $35,961

Cash invested: $21,840 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,688 medium
• Mortgage (P&I): −$409
• Tax from tax record: −$116 /mo · $1,391/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $776

Break-even live

Break-even rent $706

Max offer price $78,000

Occupancy floor 49%

Sensitivity live

Price	-10% $820	-5% $798	+0% $776	+5% $754	+10% $732
Rent	-10% $643	-5% $709	+0% $776	+5% $843	+10% $909
Rate	-1.0pp $815	-0.5pp $796	base $776	+0.5pp $756	+1.0pp $735

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,688
Total (2 units)			$1,688

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-12
   status Pending 492-char remark

   Show marketing remark (492 chars)

   This duplex two family home is close to parks, church and schools. The beautiful hardwood floors have been redone, and you will be able to keep the snow and rain off your car in the two-stall garage. Live in half and let the other half pay your mortgage. This is a great investment. Make your appointment today. Owner would pay the heat but tenant can pay the electric. Two 100 amp circuit breaker boxes. One rental water heater for both apartments. Shared driveway to get to two stall garage

2. 2026-05-10
   status Active 492-char remark

   Show marketing remark (492 chars)

   This duplex two family home is close to parks, church and schools. The beautiful hardwood floors have been redone, and you will be able to keep the snow and rain off your car in the two-stall garage. Live in half and let the other half pay your mortgage. This is a great investment. Make your appointment today. Owner would pay the heat but tenant can pay the electric. Two 100 amp circuit breaker boxes. One rental water heater for both apartments. Shared driveway to get to two stall garage

3. 2025-11-09
   listed $78,000 Active 492-char remark

   Show marketing remark (492 chars)

   This duplex two family home is close to parks, church and schools. The beautiful hardwood floors have been redone, and you will be able to keep the snow and rain off your car in the two-stall garage. Live in half and let the other half pay your mortgage. This is a great investment. Make your appointment today. Owner would pay the heat but tenant can pay the electric. Two 100 amp circuit breaker boxes. One rental water heater for both apartments. Shared driveway to get to two stall garage

4. 2023-08-17
   status Active
5. 2023-08-16
   historical
6. 2022-09-11
   listed $58,500 Active
7. 2014-01-22
   soldstatus $29,600
8. 2006-01-12
   soldstatus $37,500

ⓘ 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: $1,391 · $116/mo
• Projected year-2 tax: $1,391 · $116/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: $20,256
• − Mortgage interest: −$4,369
• − Property taxes: −$1,391
• − Insurance: −$390
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$2,269
• Taxable income: $8,595
• Est. tax owed @ 24.0%: −$2,063
• After-tax cash flow: $7,250/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

+108.0% since first listed

8 events — show timeline

• 2026-05-12 Pending — SLCMLS
• 2026-05-10 Relisted — SLCMLS
• 2025-11-09 Listed $78,000 SLCMLS
• 2023-08-17 Relisted — SLCMLS
• 2023-08-16 Delisted — SLCMLS
• 2022-09-11 Listed $58,500 SLCMLS
• 2014-01-22 Sold (Public Records) $29,600 Public Records
• 2006-01-12 Sold (Public Records) $37,500 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,391 · +0.7% YoY. Source: county tax records.