460 N Washington St · Carthage, NY 13619

$129,900

3 bd · 1.0 ba · 1,472 sqft · SingleFamily public records · 309 Days on market

Built 1935 0.33 ac lot $88/sqft · 37% below area Est $207k · 37% under

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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 +18.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.9/10.0
• 1% rule +5.7/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Village home affordably priced for a quick sale. The covered front porch leads into the hallway with a 1st floor bedroom to the right. To the left is the living room that leads to the formal dining room (currently used as another bedroom). Oversized kitchen offers plenty of space to expand cabinets or keep as an eat-in. Laundry room on the 1st floor. Upstairs is a large landing with 2 good sized bedrooms & a full bath. Back deck overlooks this double lot offering privacy & ample room to add a garage. New windows, metal roof, siding, natural gas furnace & water heater all within the past 9 years. Close to the village park & other amenities.

Key facts

• Covered front porch
• Large landing
• Laundry room

Tags

• COVERED FRONT PORCH
• OVERSIZED KITCHEN
• LAUNDRY ROOM
• LARGE LANDING
• BACK DECK
• DOUBLE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.5% in Carthage — 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 69/100 on livability (#506 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, crime B; Watch: schools C-, employment D+, amenities F.
• Carthage Central School District (rural): math 30% / reading 46% proficiency, ranked #539 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 309 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $33k; list at $130k implies a 294% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 309 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 1935 — 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. 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: 1.07% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.33%
• DSCR: 1.19
• GRM: 7.8

CMA / ARV

• ARV (median comp): $207,045
• List price: $129,900
• Delta: -37.26%
• 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
622 Alexandria St	0.16mi	3/1.0	1,356 (-8%)	0mo	$175,000	$129	79
934 Alexandria St	0.16mi	3/2.0	1,384 (-6%)	4mo	$209,500	$151	76
861 State St	0.41mi	3/1.5	1,540 (+5%)	4mo	$180,000	$117	68
624 Adelaide St	0.29mi	4/2.0 (+1)	1,495 (+2%)	10mo	$139,900	$94	66
228 Church St	0.34mi	4/2.0 (+1)	1,400 (-5%)	6mo	$159,900	$114	62
720 Elm St	0.30mi	3/1.5	1,620 (+10%)	8mo	$262,000	$162	61
51 Champion St	0.70mi	3/1.0	1,392 (-5%)	0mo	$215,000	$154	58
142 N Washington St	0.30mi	3/1.5	1,682 (+14%)	4mo	$45,000	$27	57
223 S Washington St	0.53mi	3/1.5	1,570 (+7%)	9mo	$220,000	$140	55
321 S Washington St	0.61mi	3/1.5	1,404 (-5%)	11mo	$219,000	$156	53
20392 County Route 45	0.68mi	4/1.0 (+1)	1,536 (+4%)	9mo	$151,000	$98	49
227 S James St	0.56mi	3/1.5	1,640 (+11%)	8mo	$151,000	$92	46

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: 27.4%
• Equity multiple: 3.18×
• Total profit: $79,174
• Equity at exit: $117,024

10-year hold

• IRR: 24.0%
• Equity multiple: 7.23×
• Total profit: $226,696
• Equity at exit: $252,367

Cash invested: $36,372 (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 →

ZIP-level market 13619

• Home prices YoY: 26.0%
• Active inventory: 77
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,384 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$227 /mo · $2,722/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $131

Break-even live

Break-even rent $1,218

Max offer price $129,900

Occupancy floor 86%

Sensitivity live

Price	-10% $205	-5% $168	+0% $131	+5% $95	+10% $58
Rent	-10% $22	-5% $77	+0% $131	+5% $186	+10% $241
Rate	-1.0pp $197	-0.5pp $164	base $131	+0.5pp $98	+1.0pp $63

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
719 Alexandria St Unit 719 Carthage, NY	3.0	1.0	1100	$995	$0.90	44d	1	0.14mi

Listing history 23 events

1. 2026-06-19
   days on market $129,900 Active 309 DOM
2. 2026-06-18
   days on market $129,900 Active 308 DOM
3. 2026-06-17
   days on market $129,900 Active 307 DOM
4. 2026-06-16
   days on market $129,900 Active 306 DOM
5. 2026-06-15
   days on market $129,900 Active 305 DOM
6. 2026-06-14
   days on market $129,900 Active 303 DOM
7. 2026-06-12
   days on market $129,900 Active 302 DOM
8. 2026-06-09
   days on market $129,900 Active 299 DOM
9. 2026-06-08
   days on market $129,900 Active 298 DOM
10. 2026-06-07
    days on market $129,900 Active 297 DOM
11. 2026-06-05
    days on market $129,900 Active 294 DOM
12. 2026-06-03
    days on market $129,900 Active 293 DOM
13. 2026-06-02
    days on market $129,900 Active 292 DOM
14. 2026-06-01
    days on market $129,900 Active 291 DOM
15. 2026-05-31
    days on market $129,900 Active 290 DOM
16. 2026-05-30
    days on market $129,900 Active 289 DOM
17. 2025-08-14
    listed $129,900 Active 672-char remark

    Show marketing remark (672 chars)

    Village home affordably priced for a quick sale. The covered front porch leads into the hallway with a 1st floor bedroom to the right. To the left is the living room that leads to the formal dining room (currently used as another bedroom). Oversized kitchen offers plenty of space to expand cabinets or keep as an eat-in. Laundry room on the 1st floor. Upstairs is a large landing with 2 good sized bedrooms & a full bath. Back deck overlooks this double lot offering privacy & ample room to add a garage. New windows, metal roof, siding, natural gas furnace & water heater all within the past 9 years. Close to the village park & other amenities.

18. 2016-10-01
    historical
19. 2015-09-27
    listed $72,000
20. 2015-09-04
    historical
21. 2014-08-05
    listed $89,900
22. 2005-08-03
    soldstatus $33,000
23. 2005-08-02
    soldstatus $17,000

ⓘ 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: $2,722 · $227/mo
• Projected year-2 tax: $2,722 · $227/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 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,611
• − Mortgage interest: −$7,276
• − Property taxes: −$2,722
• − Insurance: −$650
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − Depreciation: −$3,779
• Taxable loss: −$474
• Est. tax savings @ 24.0%: +$114
• After-tax cash flow: $1,690/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: Carthage Central School District
• NCES district ID: 3606630
• Math proficiency: 30% ▼ -18.00%
• Reading proficiency: 46% ▲ 2.00%
• Median HH income: $48,450
• Composite: 32.63/100
• National rank: #5668
• State rank: #539 of 590 in NY

Livability — Carthage

• Score: 69/100
• State rank: #506
• US rank: #8895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carthage, NY
• County: Jefferson County · 47,417 people
• City population: 10,578
• Metro: Watertown-Fort Drum, NY
• Population (ZIP): 10,578
• Household income: $63,120
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 379.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Lithuanian 9% Romanian 3% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 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: ▲ 84.02%
• Current HPI: 406.9439
• Rent YoY: —
• Metro: Watertown-Fort Drum, NY
• 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

+664.1% since first listed

7 events — show timeline

• 2025-08-14 Listed $129,900 CNYIS
• 2016-10-01 Listing Removed — CNYIS
• 2015-09-27 Listed $72,000 CNYIS
• 2015-09-04 Listing Removed — CNYIS
• 2014-08-05 Listed $89,900 CNYIS
• 2005-08-03 Sold (Public Records) $33,000 Public Records
• 2005-08-02 Sold (Public Records) $17,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $2,722 · +3.8% YoY. Source: county tax records.