27 Bridge St · West Carthage, NY 13619

$169,000

6 bd · 3.0 ba · 2,900 sqft · MultiFamily public records · 27 Days on market

Built 1850 0.26 ac 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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.1/5.0
• 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

This three-unit apartment building in the charming West Carthage village offers an excellent investment opportunity or the perfect chance for owner-occupied living. Live in one unit while the rental income from the other two helps pay your mortgage. This multi-unit has one, one bedroom apartment, one two bedroom apartment and one three bedroom apartment. The building offers solid structural integrity and plenty of potential for the right buyer. While the property could use some TLC and cosmetic updates, it provides a strong foundation for renovation, investment incomes, or owner-occupied living. It has a three stall detached garage with ample parking. Conveniently located a short distance t

Key facts

• 0.26 acre lot
• 3 garage spots
• Built 1850

Tags

• THREE UNIT APARTMENT BUILDING
• SOLID STRUCTURAL INTEGRITY
• THREE STALL DETACHED GARAGE
• SHORT DISTANCE TO RESTAURANTS
• SHORT DISTANCE TO SHOPPING
• 15 MINUTES FROM FORT DRUM

Property features AI

Finance

• Financial info: Operating expense details: see remarks; Owner pays: see remarks / other; Rent includes: see remarks

Exterior

• Parking: Detached garage with 3 spaces; Gravel parking; Multiple (two or more) off-street parking spaces
• Utilities: Electricity connected; Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 2-story building; Resale property
• Construction: Wood siding; Copper and PEX plumbing; Stone foundation; Existing (previously built) structure
• Exterior features: Rectangular lot with 64 x 177 dimensions; Main thoroughfare road frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Property contains multiple units (3 total)
• Flooring: Carpet; Hardwood; Laminate; Varied flooring types
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas heating; Zoned heating and cooling; Forced air; Hot water heating; Radiators
• Interior features: Full basement; Enclosed porch; Porch
• Laundry & utility: Single gas meter serving the building

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $166k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 4.3% in West 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 61/100 on livability (#912 in NY) — a middle-class / working-renter tenant base. Strengths: crime A, cost of living A-, housing B+; Watch: employment D+, health & safety D, schools 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: 78 active listings in the ZIP; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• At $3,456/mo this rent would consume 66% of the median local household income ($63k/yr) (locally 379% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k 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 $47k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $166,465 (1.5% below list)

Questions for the listing agent

1. Built in 1850 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.04% ✓
• Cap rate: 16.50%
• Cash-on-cash: 36.45%
• DSCR: 2.62
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 52.3%
• Equity multiple: 4.88×
• Total profit: $183,713
• Equity at exit: $152,249

10-year hold

• IRR: 45.9%
• Equity multiple: 10.92×
• Total profit: $469,272
• Equity at exit: $328,330

Cash invested: $47,320 (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: 78
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $3,456 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$336 /mo · $4,035/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$726
• Net cashflow: $1,437

Break-even live

Break-even rent $1,637

Max offer price $169,000

Occupancy floor 53%

Sensitivity live

Price	-10% $1,533	-5% $1,485	+0% $1,437	+5% $1,389	+10% $1,342
Rent	-10% $1,164	-5% $1,301	+0% $1,437	+5% $1,574	+10% $1,710
Rate	-1.0pp $1,522	-0.5pp $1,480	base $1,437	+0.5pp $1,393	+1.0pp $1,349

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,032
1× unit	2	1	$1,116
1× unit	3	1	$1,309
Total (3 units)			$3,456

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $169,000 Active 27 DOM
2. 2026-06-19
   days on market $169,000 Active 25 DOM
3. 2026-06-18
   days on market $169,000 Active 24 DOM
4. 2026-06-17
   days on market $169,000 Active 23 DOM
5. 2026-06-16
   days on market $169,000 Active 22 DOM
6. 2026-06-15
   days on market $169,000 Active 21 DOM
7. 2026-06-14
   days on market $169,000 Active 19 DOM
8. 2026-06-12
   days on market $169,000 Active 18 DOM
9. 2026-06-09
   days on market $169,000 Active 15 DOM
10. 2026-06-08
    days on market $169,000 Active 14 DOM
11. 2026-06-07
    days on market $169,000 Active 13 DOM
12. 2026-06-05
    days on market $169,000 Active 10 DOM
13. 2026-06-03
    days on market $169,000 Active 9 DOM
14. 2026-06-02
    days on market $169,000 Active 8 DOM
15. 2026-06-01
    days on market $169,000 Active 7 DOM
16. 2026-05-31
    days on market $169,000 Active 6 DOM
17. 2026-05-30
    days on market $169,000 Active 5 DOM
18. 2026-05-25
    listed $169,000 Active

ⓘ 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: $4,035 · $336/mo
• Projected year-2 tax: $4,035 · $336/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 1/10 Low 7 d/yr ≥92°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: $41,472
• − Mortgage interest: −$9,467
• − Property taxes: −$4,035
• − Insurance: −$845
• − Repairs & maintenance: −$3,318
• − Management: −$3,318
• − Depreciation: −$4,916
• Taxable income: $15,573
• Est. tax owed @ 24.0%: −$3,738
• After-tax cash flow: $13,510/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 — West Carthage

• Score: 61/100
• State rank: #912
• US rank: #17830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Carthage, NY
• County: Jefferson County · 47,417 people
• 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

1 event — show timeline

• 2026-05-25 Listed $169,000 CNYIS

Property tax history

-1.4%/yr

Latest (2025): $4,035 · +0.2% YoY. Source: county tax records.