23 Larnard St · Potsdam, NY 13676

$54,000

2 bd · 1.0 ba · 2,051 sqft · SingleFamily public records · 4 Days on market

Built 1887

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

GREAT OPPORTUNITY WITH EXCELLENT POTENTIAL! This 2,051 square foot home offers plenty of space and possibilities for the right buyer. Currently featuring 2 bedrooms and 1 bathroom, the home has ample room to create two additional bedrooms and another full bathroom, allowing you to customize the layout to fit your needs. Outside, you'll find a paved driveway and a spacious yard great for outdoor enjoyment, gardening, or entertaining. Conveniently located close to local restaurants, shops, stores, the hospital, and two colleges, this property offers both potential and a desirable location. Bring your vision and creativity to transform this house into the home of your dreams. Schedule your sho

Key facts

• Spacious yard
• Close to hospital
• Paved driveway

Tags

• PAVED DRIVEWAY
• SPACIOUS YARD
• CLOSE TO LOCAL RESTAURANTS
• CLOSE TO SHOPS
• CLOSE TO HOSPITAL
• CLOSE TO TWO COLLEGES

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available; Natural gas available
• Home design: Residential property; 2 stories
• Construction: Built as a residential structure
• Exterior features: Shingle roof; Lot approximately 66' wide

Interior

• Bathrooms: 1 full bathroom
• Interior features: Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $54k).
• Cap rate 19.6% vs local median 4.9% in Potsdam — 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 75/100 on livability (#249 in NY, #3,908 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime F, commute F, employment F.
• Potsdam Central School District (town): math 53% / reading 66% proficiency, ranked #258 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 117 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 $6k of equity ($373 loan paydown + $5k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,000

Questions for the listing agent

1. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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?
5. 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.
6. 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.
7. 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: 2.28% ✓
• Cap rate: 19.61%
• Cash-on-cash: 47.56%
• DSCR: 3.12
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $203,049
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Market St	0.16mi	3/2.0 (+1)	1,790 (-13%)	2mo	$140,000	$78	61
37 Main St	0.70mi	3/1.5 (+1)	2,029 (-1%)	5mo	$201,000	$99	54
12 Leroy St	0.59mi	3/1.5 (+1)	1,888 (-8%)	7mo	$215,000	$114	46
6 Somerset Rd	0.35mi	3/2.0 (+1)	1,800 (-12%)	10mo	$238,000	$132	45
18 Broad St	0.53mi	3/1.5 (+1)	2,228 (+9%)	12mo	$147,000	$66	44
2 Berkley Dr	0.41mi	3/1.0 (+1)	1,845 (-10%)	20mo	$150,000	$81	42
9 Mechanic St	0.49mi	3/2.0 (+1)	1,792 (-13%)	19mo	$240,000	$134	31

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 61.5%
• Equity multiple: 5.47×
• Total profit: $67,594
• Equity at exit: $48,647

10-year hold

• IRR: 55.1%
• Equity multiple: 12.18×
• Total profit: $169,076
• Equity at exit: $104,910

Cash invested: $15,120 (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 13676

• Home prices YoY: 17.7%
• Active inventory: 117
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$283
• Tax est. 1.5%: −$68 /mo · $810/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $599

Break-even live

Break-even rent $472

Max offer price $54,000

Occupancy floor 46%

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: $13,500
• Closing costs: $1,620
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $54,000 Active 4 DOM
2. 2026-06-17
   days on market $54,000 Active 3 DOM
3. 2026-06-16
   days on market $54,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $54,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,771
• − Mortgage interest: −$3,025
• − Property taxes: −$810
• − Insurance: −$270
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$1,571
• Taxable income: $6,732
• Est. tax owed @ 24.0%: −$1,616
• After-tax cash flow: $5,575/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: Potsdam Central School District
• NCES district ID: 3623670
• Math proficiency: 53% ▼ -2.00%
• Reading proficiency: 66% ▲ 12.00%
• Median HH income: $44,144
• Composite: 50.05/100
• National rank: #1915
• State rank: #258 of 590 in NY

Livability — Potsdam

• Score: 75/100
• State rank: #249
• US rank: #3908

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Potsdam, NY
• City population: 2,123
• Population (ZIP): 13,408

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Asian 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 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: ▲ 48.01%
• Current HPI: 318.7704
• 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

1 event — show timeline

• 2026-06-14 Listed $54,000 SLCMLS

Property tax history

+6.0%/yr

Latest (2025): $5,896 · +30.1% YoY. Source: county tax records.