Ogdensburg, NY Cap Rate 6.24%
Ogdensburg is one of the most affordable markets in the country in the Northeast with a small but investable metro of 50,000. At a 6.24% estimated cap rate, this is a solid market where rents of $1,050/mo lag behind home prices. With a median home price of $135,000 and the population has been declining, which investors should factor into long-term projections, Ogdensburg stands out as a market worth serious analysis for rental investors.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Market Data
2026 Market Update: Ogdensburg
Ogdensburg's 0.8% rent-to-price ratio is well below the 1% rule. At median prices of $135,000, the $1,050/mo rent produces only $701/mo in NOI. Investors here need to target below-median properties or pursue value-add strategies to make the numbers work.
At current rates, a 20% down conventional loan ($27K at 7%) would result in approximately $-17/mo cash flow — negative at median prices. Larger down payments, seller financing, or buying 15–25% below median are strategies to turn the numbers positive.
Property taxes consume 18% of gross rent here — one of the highest ratios in our dataset. This significantly compresses margins and makes Ogdensburg a market where tax-conscious underwriting is essential. Every deal should be stress-tested with potential assessment increases.
Deal Modeling & Scenarios for Ogdensburg
All figures below are computed from Ogdensburg's real market medians. Use them as a baseline; override with property-specific numbers in the calculators.
Property Tax Bill in Real Dollars
At 1.71% effective rate on the $135,000 median price, the annual tax bill is $2,309 — that's very high (top 15% of US markets) (+61% vs the national average of ~1.06%). Verify the actual assessed value before purchase; sale-triggered reassessments can push the bill higher than the seller's current statement.
5-Year Cap Rate Trajectory
If Ogdensburg continues appreciating at 2.1%/yr while rents grow at a conservative 3%/yr, cap rate holds roughly steady as price growth outpaces rent. Year-by-year projection at the median:
| Year | Est. Price | Est. Rent/Mo | Cap Rate |
|---|---|---|---|
| Today | $135K | $1,050 | 6.2% |
| Year 1 | $138K | $1,082 | 6.3% |
| Year 2 | $141K | $1,114 | 6.3% |
| Year 3 | $144K | $1,147 | 6.4% |
| Year 4 | $147K | $1,182 | 6.5% |
| Year 5 | $150K | $1,217 | 6.5% |
Three Financing Scenarios
Same median-priced Ogdensburg property — different capital structures. All-cash maximizes cap rate. Leverage trades cash flow for higher cash-on-cash return when the spread between cap rate and borrowing cost is positive.
| Scenario | Cash Invested | Monthly Cash Flow | Annual CF | Cash-on-Cash |
|---|---|---|---|---|
| All cash | $135K | $701 | $8,418 | 6.2% |
| 20% down conventional @ 7% | $31K | $-17 | $-201 | -0.6% |
| 25% down DSCR @ 8.5% | $39K | $-77 | $-926 | -2.4% |
Three Price Tiers: Below, At, and Above the Median
Properties don't always trade at the median. Lower-priced units typically offer higher cap rates but harder operations; higher-priced properties tend to compress cap rates while attracting better tenants. All-cash assumptions below:
| Tier | Price | Rent/Mo | NOI/Yr | Cap Rate | Monthly CF |
|---|---|---|---|---|---|
| Below median (~75% price) | $101K | $893 | $6,190 | 6.1% | $516 |
| At median | $135K | $1,050 | $6,942 | 5.1% | $578 |
| Above median (~125% price) | $169K | $1,208 | $7,703 | 4.6% | $642 |
Total Return Over a 5-Year Hold
Cap rate is just one piece. Real estate returns come from four sources: cash flow, appreciation, principal paydown, and tax benefits. Assuming 20% down conventional financing at 7% and a 5-year hold at Ogdensburg's historical appreciation rate of 2.1%:
On a $27K down payment, that's a 81.0% total ROI over 5 years (not annualized). Tax benefits from depreciation are additional and depend on your personal tax bracket.
Risk Flags Specific to Ogdensburg
Automated checks against the underlying data — surface only the risks that actually apply to Ogdensburg, not generic boilerplate:
Cap Rate Calculator — Ogdensburg
Pre-filled with Ogdensburg medians. Adjust to match a specific property.
Cash-on-Cash Return — Ogdensburg
Factor in financing to see your actual return on invested capital in Ogdensburg.
Is Ogdensburg a Good Place to Invest in Rental Property?
Ogdensburg, NY has a population of 50,000 and has been growing at 0% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $135,000 paired with median rents of $1,050/mo produces an estimated cap rate of 6.24%.
Property taxes at 1.71% are notably high and represent a significant drag on cash flow — model this expense carefully, as it can make or break a deal. The vacancy rate of 6.3% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 3.1x, homes cost about 3.1 times the local median income of $43,975. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 2.1% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Ogdensburg offers attractive fundamentals for rental investors. and cap rates above 6% put it in the upper tier of investable markets.