105 Church St · Theresa, NY 13691

$170,000

3 bd · 2.0 ba · 2,140 sqft · MultiFamily public records · 51 Days on market

Built 1830 10,800 sqft 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
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• 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

Rare investment opportunity in the heart of Theresa offering exceptional income potential and flexible use options! The property features three separate units, including two in the main house and a private third unit above the barn, ideal for added privacy or supplemental income. Each unit includes in-unit laundry, and the property has a past rental history. Making this the perfect opportunity for seasoned investors or those looking to generate additional rental income. Situated on a quiet dead-end street, this property is close to village amenities with convenient access to local businesses, schools, and parks. Just 20 minutes from Fort Drum and a short drive to Watertown, the location is well-suited for prospective rental occupants seeking accessibility to nearby employment and amenities. This property presents a strong value-add opportunity for buyers looking to make improvements and maximize returns. Outdoor features include a front porch, spacious side deck, and partially fenced yard. Ample storage is available in the dry basement and barn. There are two separate, extra-wide driveways providing abundant off-street parking. Property could be converted back to a single-family residence if desired, offering additional flexibility for future use. This could be a great project with strong potential for value-add. Property is being sold as-is. Call to schedule your showing, an opportunity like this wont last long!

Key facts

• 0.25 acre lot
• Garage
• Built 1830

Property features AI

Exterior

• Parking: Detached garage with storage and workshop; One garage space
• Utilities: Electricity available; Public water connected; Sewer connected
• Home design: Two-story property; Resale condition; Shingle roof; Wood siding exterior
• Construction: Built previously (existing); Block foundation; Attic/crawl hatchway(s) insulated
• Exterior features: Concrete driveway; Gravel driveway; Partial fencing; Covered patio/porch; Patio; Porch; Garage apartment; Irregular residential lot; City street frontage; Lot dimensions approximately 108 x 100

Interior

• Kitchen: Gas cooktop; Dishwasher; Refrigerator; Second kitchen present
• Bedrooms: One main-level bedroom; Includes bedroom and guest quarters in room types
• Flooring: Carpet; Hardwood; Vinyl; Varied flooring
• Bathrooms: Three full bathrooms; One main-level bathroom
• Heating & cooling: Propane heating; Baseboard heating; Electric heating; Forced air heating; Window cooling units
• Interior features: Ceiling fans; Guest accommodations; Kitchen and family room combined; Second kitchen; Window treatments; Drapes; Storm windows; Wood window frames; Accessible bedroom; Bedroom on main level
• Laundry & utility: Washer; Dryer; Laundry on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $832 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#693 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A-; Watch: employment D, health & safety D, amenities F.
• Indian River Central School District (rural): math 33% / reading 50% proficiency, ranked #502 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 30 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 $11k of equity ($1k loan paydown + $10k appreciation (5.6% 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 (5.6% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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 51 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1830 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1830 — 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. 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.
5. 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.
6. 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: 1.51% ✓
• Cap rate: 12.17%
• Cash-on-cash: 20.98%
• DSCR: 1.93
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.3%
• Equity multiple: 3.07×
• Total profit: $98,365
• Equity at exit: $102,866

10-year hold

• IRR: 30.3%
• Equity multiple: 6.23×
• Total profit: $249,028
• Equity at exit: $183,183

Cash invested: $47,600 (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 13691

• Home prices YoY: 1.2%
• Active inventory: 30
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $2,570 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$236 /mo · $2,831/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $832

Break-even live

Break-even rent $1,517

Max offer price $170,000

Occupancy floor 63%

Sensitivity live

Price	-10% $928	-5% $880	+0% $832	+5% $784	+10% $736
Rent	-10% $629	-5% $730	+0% $832	+5% $934	+10% $1,035
Rate	-1.0pp $918	-0.5pp $875	base $832	+0.5pp $788	+1.0pp $743

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$904
▸ 2× units	1	1	$1,666
Total (3 units)			$2,570

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-19
   days on market $170,000 Active 51 DOM
2. 2026-06-18
   days on market $170,000 Active 50 DOM
3. 2026-06-17
   days on market $170,000 Active 49 DOM
4. 2026-06-16
   days on market $170,000 Active 48 DOM
5. 2026-06-15
   days on market $170,000 Active 47 DOM
6. 2026-06-14
   days on market $170,000 Active 45 DOM
7. 2026-06-12
   days on market $170,000 Active 44 DOM
8. 2026-06-09
   days on market $170,000 Active 41 DOM
9. 2026-06-08
   days on market $170,000 Active 40 DOM
10. 2026-06-07
    days on market $170,000 Active 39 DOM
11. 2026-06-05
    days on market $170,000 Active 36 DOM
12. 2026-06-03
    days on market $170,000 Active 35 DOM
13. 2026-06-02
    days on market $170,000 Active 34 DOM
14. 2026-06-01
    days on market $170,000 Active 33 DOM
15. 2026-05-31
    days on market $170,000 Active 32 DOM
16. 2026-05-30
    days on market $170,000 Active 31 DOM
17. 2026-04-29
    price $170,000 1436-char remark

    Show marketing remark (1436 chars)

    Rare investment opportunity in the heart of Theresa offering exceptional income potential and flexible use options! The property features three separate units, including two in the main house and a private third unit above the barn, ideal for added privacy or supplemental income. Each unit includes in-unit laundry, and the property has a past rental history. Making this the perfect opportunity for seasoned investors or those looking to generate additional rental income. Situated on a quiet dead-end street, this property is close to village amenities with convenient access to local businesses, schools, and parks. Just 20 minutes from Fort Drum and a short drive to Watertown, the location is well-suited for prospective rental occupants seeking accessibility to nearby employment and amenities. This property presents a strong value-add opportunity for buyers looking to make improvements and maximize returns. Outdoor features include a front porch, spacious side deck, and partially fenced yard. Ample storage is available in the dry basement and barn. There are two separate, extra-wide driveways providing abundant off-street parking. Property could be converted back to a single-family residence if desired, offering additional flexibility for future use. This could be a great project with strong potential for value-add. Property is being sold as-is. Call to schedule your showing, an opportunity like this wont last long!

18. 2026-04-29
    listed $170,000 Active

    Show marketing remark (1436 chars)

    Rare investment opportunity in the heart of Theresa offering exceptional income potential and flexible use options! The property features three separate units, including two in the main house and a private third unit above the barn, ideal for added privacy or supplemental income. Each unit includes in-unit laundry, and the property has a past rental history. Making this the perfect opportunity for seasoned investors or those looking to generate additional rental income. Situated on a quiet dead-end street, this property is close to village amenities with convenient access to local businesses, schools, and parks. Just 20 minutes from Fort Drum and a short drive to Watertown, the location is well-suited for prospective rental occupants seeking accessibility to nearby employment and amenities. This property presents a strong value-add opportunity for buyers looking to make improvements and maximize returns. Outdoor features include a front porch, spacious side deck, and partially fenced yard. Ample storage is available in the dry basement and barn. There are two separate, extra-wide driveways providing abundant off-street parking. Property could be converted back to a single-family residence if desired, offering additional flexibility for future use. This could be a great project with strong potential for value-add. Property is being sold as-is. Call to schedule your showing, an opportunity like this wont last long!

19. 2026-04-13
    price $180,000 1436-char remark

    Show marketing remark (1436 chars)

    Rare investment opportunity in the heart of Theresa offering exceptional income potential and flexible use options! The property features three separate units, including two in the main house and a private third unit above the barn, ideal for added privacy or supplemental income. Each unit includes in-unit laundry, and the property has a past rental history. Making this the perfect opportunity for seasoned investors or those looking to generate additional rental income. Situated on a quiet dead-end street, this property is close to village amenities with convenient access to local businesses, schools, and parks. Just 20 minutes from Fort Drum and a short drive to Watertown, the location is well-suited for prospective rental occupants seeking accessibility to nearby employment and amenities. This property presents a strong value-add opportunity for buyers looking to make improvements and maximize returns. Outdoor features include a front porch, spacious side deck, and partially fenced yard. Ample storage is available in the dry basement and barn. There are two separate, extra-wide driveways providing abundant off-street parking. Property could be converted back to a single-family residence if desired, offering additional flexibility for future use. This could be a great project with strong potential for value-add. Property is being sold as-is. Call to schedule your showing, an opportunity like this wont last long!

20. 2026-03-31
    listed $190,000 Active 1436-char remark

    Show marketing remark (1436 chars)

    Rare investment opportunity in the heart of Theresa offering exceptional income potential and flexible use options! The property features three separate units, including two in the main house and a private third unit above the barn, ideal for added privacy or supplemental income. Each unit includes in-unit laundry, and the property has a past rental history. Making this the perfect opportunity for seasoned investors or those looking to generate additional rental income. Situated on a quiet dead-end street, this property is close to village amenities with convenient access to local businesses, schools, and parks. Just 20 minutes from Fort Drum and a short drive to Watertown, the location is well-suited for prospective rental occupants seeking accessibility to nearby employment and amenities. This property presents a strong value-add opportunity for buyers looking to make improvements and maximize returns. Outdoor features include a front porch, spacious side deck, and partially fenced yard. Ample storage is available in the dry basement and barn. There are two separate, extra-wide driveways providing abundant off-street parking. Property could be converted back to a single-family residence if desired, offering additional flexibility for future use. This could be a great project with strong potential for value-add. Property is being sold as-is. Call to schedule your showing, an opportunity like this wont last long!

21. 2024-12-31
    historical
22. 2024-12-31
    historical
23. 2024-10-19
    price $169,000
24. 2024-09-16
    price $169,000
25. 2024-07-22
    listed $180,000 Active
26. 2024-07-22
    listed $180,000 Active
27. 2022-07-21
    price $730
28. 2022-01-17
    historical
29. 2022-01-03
    historical
30. 2021-09-20
    status Active
31. 2021-09-20
    status Active
32. 2021-08-21
    historical Continue to Show- Under Contract
33. 2021-08-21
    historical Continue to Show- Under Contract
34. 2021-08-12
    price $184,900
35. 2021-08-12
    price $184,900
36. 2021-07-29
    listed $199,700 Active
37. 2021-07-29
    listed $199,700 Active
38. 2020-09-08
    soldstatus $164,000
39. 2020-09-03
    soldstatus $164,000
40. 2020-07-30
    historical
41. 2020-07-10
    listed $164,900
42. 2020-07-10
    listed $164,900

ⓘ 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: $2,831 · $236/mo
• Projected year-2 tax: $2,852 · $238/mo
• Expected delta: +$21/yr (+$2/mo · 0.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥93°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: $30,840
• − Mortgage interest: −$9,523
• − Property taxes: −$2,831
• − Insurance: −$850
• − Repairs & maintenance: −$2,467
• − Management: −$2,467
• − Depreciation: −$4,945
• Taxable income: $7,756
• Est. tax owed @ 24.0%: −$1,861
• After-tax cash flow: $8,123/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: Indian River Central School District
• NCES district ID: 3615300
• Math proficiency: 33% ▼ -21.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $45,599
• Composite: 35.25/100
• National rank: #4977
• State rank: #502 of 590 in NY

Livability — Theresa

• Score: 65/100
• State rank: #693
• US rank: #13103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Theresa, NY
• Population (ZIP): 3,172

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 (82%)
• Race & ethnicity: White 82% Two or more races 12% Asian 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Slovak 2% Romanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% Chinese 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: ▲ 5.63%
• Current HPI: 459.7016
• 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

+3.1% since first listed

26 events — show timeline

• 2026-04-29 Price Changed $170,000 CNYIS
• 2026-04-29 Listed $170,000 CNYIS
• 2026-04-13 Price Changed $180,000 CNYIS
• 2026-03-31 Listed $190,000 CNYIS
• 2024-12-31 Listing Removed — CNYIS
• 2024-12-31 Listing Removed — CNYIS
• 2024-10-19 Price Changed $169,000 CNYIS
• 2024-09-16 Price Changed $169,000 CNYIS
• 2024-07-22 Listed $180,000 CNYIS
• 2024-07-22 Listed $180,000 CNYIS
• 2022-07-21 Price Changed $730 RENT.
• 2022-01-17 Listing Removed — CNYIS
• 2022-01-03 Listing Removed — CNYIS
• 2021-09-20 Relisted — CNYIS
• 2021-09-20 Relisted — CNYIS
• 2021-08-21 Contingent — CNYIS
• 2021-08-21 Contingent — CNYIS
• 2021-08-12 Price Changed $184,900 CNYIS
• 2021-08-12 Price Changed $184,900 CNYIS
• 2021-07-29 Listed $199,700 CNYIS
• 2021-07-29 Listed $199,700 CNYIS
• 2020-09-08 Sold (Public Records) $164,000 Public Records
• 2020-09-03 Sold (MLS) $164,000 CNYIS
• 2020-07-30 Listing Removed — CNYIS
• 2020-07-10 Listed $164,900 CNYIS
• 2020-07-10 Listed $164,900 CNYIS

Property tax history

+0.9%/yr

Latest (2025): $2,831 · +0.3% YoY. Source: county tax records.