Real Estate Investing in Carthage, New York (13638)
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Should you buy in 13638 (Carthage, NY)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Carthage, NY (13638)?
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Market Analysis: 13638 Carthage
Not every below-median market is a bargain. Carthage's 13638 ZIP posts signals that favor experienced operators who can absorb the risk $187K pricing implies.
The 13638 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within NY, ZIP 13638 trails on several market indicators that neighboring Jefferson County submarkets outperform. The gap is real and solid enough to shape underwriting.
The 13638 ZIP's population of 172 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
Strategy in 13638 is an operator game, not a passive one. Meanwhile, entry prices of $187K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Carthage:
Market Trends
Home Value History (with trend line)
📊 How Does 13638 Compare?
| Metric | 13638 | Carthage | Watertown-Fort Drum, NY | New York |
|---|---|---|---|---|
| Home Value | $186,577 | $197,175 | N/A | $505,608 |
| 5-Year CAGR | 6.3% | 6.4% | N/A | 6.6% |
| Avg Rent | $1,044 | $1,076 | N/A | - |
| Cap Rate | 4.4% | 4.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 13638 (Carthage, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $186,577 |
| Monthly Rent | $1,044 |
| Price-to-Rent | 14.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.4% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +11.9% ▲ |
| 3-Year CAGR | +7.3% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.4%). 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 13638
Population: 172
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 13638
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
BLACK RIVER SCHOOL
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
What price range are homes in Carthage, NY?
In Carthage, NY the median home value sits at $187K. Against the broader NY market, that reads as reasonable for most investors.
Is the tenant base reliable in Carthage, NY?
Carthage, NY offers a predictable renter base at the $1,044/mo rent level. Tenant turnover is reasonable for well-managed properties.
What type of investing works in Carthage, NY?
Most investors in Carthage, NY run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How quickly do rentals get leased in Carthage, NY?
Carthage, NY sees elevated vacancy, which is reasonable relative to the broader NY rental market.
Is Carthage, NY a friendly market for rental owners?
Rental owners in Carthage, NY deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
You know 13638 now. You don’t know where it ranks.
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How 13638 ranks in Watertown-Fort Drum, NY
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