415 N Clinton St · Carthage, NY 13619

$209,000

4 bd · 2.0 ba · 2,132 sqft · MultiFamily public records · 50 Days on market

Built 1920 0.30 ac lot $98/sqft · 21% below area Est $264k · 21% 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 +10.0/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• 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: 3 units. confirmed

Listing remarks MLS

Here is your opportunity to own a great investment property or live in one apartment and have the other 2 apartments pay your mortgage plus some. The front upstairs apartment has an updated kitchen with an island, tiled counter tops, open floor concept, 2 bedrooms and 1 full bath. A large second level screened in porch is yours to enjoy on those warmer days. The back upstairs apartment is a 1 bedroom, 1 bath, that is updated, clean with spacious rooms. This apartment also has a screened in porch that looks onto the back yard. Downstairs is a 2 bedroom 1 bath unit with hardwood floors, a screened in porch, and plenty of living space. A detached 2 stall garage and fenced in yard, makes this property an amazing find. Many new windows, and the roof is 10 years old. Don't miss out on this opportunity to own this well kept home with a great location in the village of Carthage.

Key facts

• Unique layout
• Fully fenced in yard
• 0.3 acre lot

Tags

• PRIVATE OUTDOOR SPACE
• UNIQUE LAYOUT
• FULLY FENCED IN YARD
• ON SITE COIN OPERATED LAUNDRY

Property features AI

Finance

• Other: Property is a 3-unit multi-family building with separate electric meters for each unit (3) and separate gas meters (2)
• Financial info: Operating expenses include electric, fuel, insurance, maintenance, snow removal, water/sewer and other items as noted; Owner pays grounds care, snow removal, water and other items as noted; Current gross rents listed by unit: $850; $1,100 (leased through Aug 31, 2026); $1,050

Exterior

• Parking: Detached or attached garage with 2 spaces; Paved parking; Garage door opener
• Utilities: Electricity connected (circuit breakers and fuses); Public water connected; Sewer connected; High-speed internet available; Cable available
• Home design: 3-story building; Vinyl siding; Asphalt roof; Block foundation; Property listed as resale; City street frontage; Rectangular residential lot
• Construction: Vinyl siding construction; Asphalt roof; Block foundation; Building has three stories
• Exterior features: Balcony; Covered porch; Deck; Screened porch; Private yard; Fully fenced yard; Porch; Some exterior details listed as 'See Remarks'

Interior

• Kitchen: Oven/range; Refrigerator; Microwave; Dishwasher (in at least one unit); Eat-in kitchen or formal dining room depending on unit
• Bedrooms: Three separate units: one 1-bedroom unit and two 2-bedroom units
• Flooring: Ceramic tile; Hardwood; Laminate; Luxury vinyl; Vinyl; Varies by unit
• Bathrooms: Three full bathrooms total (each unit has one full bath)
• Heating & cooling: Forced air heating (gas); Gas heating (some details listed as 'See Remarks')
• Interior features: Attic; Ceiling fans; Storage; Window treatments (drapes); Some details listed as 'See Remarks' or 'Other'
• Laundry & utility: Washer hookup; One unit has in-unit laundry (Laundry-In Unit); Common area laundry available

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×1bd/1ba units multifamily listed at $209k.

Deal economics

• At list price, monthly cash flow is $992 ($12k/yr) — positive. Per door: $331/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $209k).
• Recommended offer: $203k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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; 196 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k 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 $59k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, 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 50 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $138k; list at $209k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.52% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.34%
• DSCR: 1.91
• GRM: 5.5

CMA / ARV

• ARV (median comp): $264,467
• List price: $209,000
• Delta: -20.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 Sherman St	0.21mi	3/2.0 (-1)	1,972 (-8%)	19mo	$115,000	$58	57
623 Alexandria St	0.09mi	3/3.0 (-1)	2,327 (+9%)	22mo	$12,000	$5	53
315 - 317 Furnace St	0.27mi	5/2.5 (+1)	2,400 (+13%)	10mo	$134,000	$56	52

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: 39.5%
• Equity multiple: 4.03×
• Total profit: $177,100
• Equity at exit: $188,284

10-year hold

• IRR: 34.0%
• Equity multiple: 9.07×
• Total profit: $472,022
• Equity at exit: $406,041

Cash invested: $58,520 (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: 15.9×

Monthly cashflow live

• Estimated rent: $3,171 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$330 /mo · $3,960/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$666
• Net cashflow: $992

Break-even live

Break-even rent $1,915

Max offer price $209,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,184
1× unit	1	1	$986
Total (3 units)			$3,171

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $209,000 Active 50 DOM
2. 2026-06-18
   days on market $209,000 Active 49 DOM
3. 2026-06-17
   days on market $209,000 Active 48 DOM
4. 2026-06-16
   days on market $209,000 Active 47 DOM
5. 2026-06-15
   days on market $209,000 Active 46 DOM
6. 2026-06-14
   days on market $209,000 Active 44 DOM
7. 2026-06-12
   days on market $209,000 Active 43 DOM
8. 2026-06-09
   days on market $209,000 Active 40 DOM
9. 2026-06-08
   days on market $209,000 Active 39 DOM
10. 2026-06-07
    days on market $209,000 Active 38 DOM
11. 2026-06-05
    days on market $209,000 Active 35 DOM
12. 2026-06-03
    days on market $209,000 Active 34 DOM
13. 2026-06-02
    days on market $209,000 Active 33 DOM
14. 2026-06-01
    days on market $209,000 Active 32 DOM
15. 2026-05-31
    days on market $209,000 Active 31 DOM
16. 2026-05-30
    days on market $209,000 Active 30 DOM
17. 2026-04-30
    listed $209,000 Active 1634-char remark
18. 2019-07-10
    soldstatus $138,000
19. 2019-07-08
    soldstatus $138,000 883-char remark

    Show marketing remark (883 chars)

    Here is your opportunity to own a great investment property or live in one apartment and have the other 2 apartments pay your mortgage plus some. The front upstairs apartment has an updated kitchen with an island, tiled counter tops, open floor concept, 2 bedrooms and 1 full bath. A large second level screened in porch is yours to enjoy on those warmer days. The back upstairs apartment is a 1 bedroom, 1 bath, that is updated, clean with spacious rooms. This apartment also has a screened in porch that looks onto the back yard. Downstairs is a 2 bedroom 1 bath unit with hardwood floors, a screened in porch, and plenty of living space. A detached 2 stall garage and fenced in yard, makes this property an amazing find. Many new windows, and the roof is 10 years old. Don't miss out on this opportunity to own this well kept home with a great location in the village of Carthage.

20. 2019-03-18
    listed $154,900 883-char remark

    Show marketing remark (883 chars)

    Here is your opportunity to own a great investment property or live in one apartment and have the other 2 apartments pay your mortgage plus some. The front upstairs apartment has an updated kitchen with an island, tiled counter tops, open floor concept, 2 bedrooms and 1 full bath. A large second level screened in porch is yours to enjoy on those warmer days. The back upstairs apartment is a 1 bedroom, 1 bath, that is updated, clean with spacious rooms. This apartment also has a screened in porch that looks onto the back yard. Downstairs is a 2 bedroom 1 bath unit with hardwood floors, a screened in porch, and plenty of living space. A detached 2 stall garage and fenced in yard, makes this property an amazing find. Many new windows, and the roof is 10 years old. Don't miss out on this opportunity to own this well kept home with a great location in the village of Carthage.

21. 2018-11-15
    historical
22. 2018-08-17
    listed $159,900
23. 2007-01-12
    soldstatus $75,000
24. 2007-01-05
    soldstatus $75,000
25. 2006-10-16
    listed $75,000
26. 2003-12-19
    soldstatus $63,500

ⓘ 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: $3,960 · $330/mo
• Projected year-2 tax: $3,960 · $330/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 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 17 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: $38,052
• − Mortgage interest: −$11,707
• − Property taxes: −$3,960
• − Insurance: −$1,045
• − Repairs & maintenance: −$3,044
• − Management: −$3,044
• − Depreciation: −$6,080
• Taxable income: $9,172
• Est. tax owed @ 24.0%: −$2,201
• After-tax cash flow: $9,703/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

+229.1% since first listed

10 events — show timeline

• 2026-04-30 Listed $209,000 CNYIS
• 2019-07-10 Sold (Public Records) $138,000 Public Records
• 2019-07-08 Sold (MLS) $138,000 CNYIS
• 2019-03-18 Listed $154,900 CNYIS
• 2018-11-15 Listing Removed — CNYIS
• 2018-08-17 Listed $159,900 CNYIS
• 2007-01-12 Sold (Public Records) $75,000 Public Records
• 2007-01-05 Sold (MLS) $75,000 CNYIS
• 2006-10-16 Listed $75,000 CNYIS
• 2003-12-19 Sold (Public Records) $63,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $3,960 · +11.8% YoY. Source: county tax records.