Real Estate Investing in Watertown, New York (13601)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 13601 (Watertown, NY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.0% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Watertown, NY (13601)?
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Market Analysis: 13601 Watertown
Investors eyeing 13601 need to respect the fundamentals at play. Home values of $206K come alongside slower price movement and elevated management overhead.
The investment case in 13601 is healthy only for operators who understand what they are buying. A $206K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Watertown have seen price recovery that 13601 has not matched. Jefferson County data supports the view that the spread is structural rather than temporary.
Employment concentration in 13601 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 13601 is an operator game, not a passive one. From a cash-flow lens, entry prices of $206K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Watertown:
Property Strategy for 13601
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $99,805 | $980 | 7.1% | +5.8% | $99,805 |
| 2BR | $148,525 | $1,290 | 6.3% | +6.5% | $74,263 |
| 3BR | $193,279 | $1,750 | 6.5% | +6.3% | $64,426 |
| 4BR | $228,282 | $2,150 | 6.8% | +6.2% | $57,071 |
| 5BR | $269,788 | — | — | +5.5% | $53,958 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 13601 Compare?
| Metric | 13601 | Watertown | Watertown-Fort Drum, NY | New York |
|---|---|---|---|---|
| Home Value | $206,279 | $103,140 | N/A | $505,608 |
| 5-Year CAGR | 5.4% | 5.4% | N/A | 6.6% |
| Avg Rent | $1,578 | $1,578 | N/A | - |
| Cap Rate | 6.0% | 6.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 13601 (Watertown, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $206,279 |
| Monthly Rent | $1,578 |
| Price-to-Rent | 10.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.2% |
| Cap Rate | 6.0% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +4.2% ▲ |
🏠 Rent Trends
| 1-Year | +17.0% ▲ |
| 3-Year CAGR | +9.1% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (6.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 13601
Population: 37,409
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 13601
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 630 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do home values compare in Watertown, NY?
Homes in Watertown, NY typically sell near $206K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
Is Watertown, NY landlord-friendly?
NY ranks as a tenant-protective state for landlord-tenant law. Watertown generally follows the statewide framework, so landlords face reasonable operating rules.
Is the tenant base reliable in Watertown, NY?
The renter base in Watertown, NY is reasonable for the $1,578/mo price point. Screening well and pricing to market typically yields measured tenants.
How tight is the rental market in Watertown, NY?
Watertown, NY carries elevated vacancy risk. Expect measured absorption at market rents of $1,578/mo.
What are rental rates like in Watertown, NY?
Rental rates in Watertown, NY average $1,578/mo. Tenant demand and $206K home values make the yield look reasonable by investor standards.
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How 13601 ranks in Watertown-Fort Drum, NY
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