782 Old Route 22 · Amenia, NY 12501

$350,000

4 bd · 2.0 ba · 1,620 sqft · MultiFamily public records · 21 Days on market

Built 1920

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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 +25.0/30.0
• Appreciation +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +3.9/10.0
• Livability +3.0/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Spacious two family with four bedrooms and two baths right in town of Amenia. Short drive to Wassaic Train Station, close to rail trail and Beekman Park.,ROOF:Asphalt Shingles,AboveGrade:1620

Key facts

• Near train station
• Large garage
• Near rail trail

Tags

• NEWER KIT CABINETS
• LARGE GARAGE
• CLOSE TO VILLAGE
• NEAR RAIL TRAIL
• NEAR TRAIN STATION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive. Per door: $383/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $345k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,014 in NY) — a working-class tenant base; expect higher turnover. Strengths: housing A, employment B+; Watch: schools C-, crime D, cost of living D.
• Northeast Central School District (rural): math 47% / reading 37% proficiency, ranked #592 of 755 in NY (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 34 active listings in the ZIP; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Dutchess County population projected at -11% 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 $98k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $86k; list at $350k implies a 307% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $344,750 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.14% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.37%
• DSCR: 1.42
• GRM: 7.3

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: 31.1%
• Equity multiple: 3.44×
• Total profit: $239,413
• Equity at exit: $315,308

10-year hold

• IRR: 26.9%
• Equity multiple: 7.80×
• Total profit: $666,788
• Equity at exit: $679,973

Cash invested: $98,000 (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 12501

• Home prices YoY: 10.7%
• Active inventory: 34
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $4,000 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$413 /mo · $4,960/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$840
• Net cashflow: $765

Break-even live

Break-even rent $3,031

Max offer price $350,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$4,000
Total (2 units)			$4,000

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2025-05-06
   status Pending
2. 2025-04-15
   listed $350,000 Active
3. 2024-02-03
   historical
4. 2017-02-27
   soldstatus $86,000 191-char remark

   Show marketing remark (191 chars)

   Spacious two family with four bedrooms and two baths right in town of Amenia. Short drive to Wassaic Train Station, close to rail trail and Beekman Park.,ROOF:Asphalt Shingles,AboveGrade:1620

5. 2016-06-13
   listed $86,500 191-char remark

   Show marketing remark (191 chars)

   Spacious two family with four bedrooms and two baths right in town of Amenia. Short drive to Wassaic Train Station, close to rail trail and Beekman Park.,ROOF:Asphalt Shingles,AboveGrade:1620

6. 2016-05-26
   historical
7. 2016-03-01
   listed $155,000
8. 2014-04-06
   listed $177,000
9. 2013-12-10
   historical
10. 2013-05-29
    listed $177,500

ⓘ 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: $4,960 · $413/mo
• Projected year-2 tax: $5,437 · $453/mo
• Expected delta: +$478/yr (+$40/mo · 9.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,000
• − Mortgage interest: −$19,605
• − Property taxes: −$4,960
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,840
• − Management: −$3,840
• − Depreciation: −$10,182
• Taxable income: $3,823
• Est. tax owed @ 24.0%: −$917
• After-tax cash flow: $8,267/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: Northeast Central School District
• NCES district ID: 3630390
• Math proficiency: 47% ▼ -1.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $58,965
• Composite: 39.37/100
• National rank: #8150
• State rank: #592 of 755 in NY

Livability — Amenia

• Score: 59/100
• State rank: #1014
• US rank: #19739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amenia, NY
• City population: 2,374
• Population (ZIP): 2,374

Population outlook (Dutchess County) Hauer SSP2

• Today (2025): 291,768 people
• By 2030: 287,131 · -1.6%
• By 2040: 274,881 · -5.8%
• By 2050: 259,971 · -10.9%
• By 2075: 235,366 · -19.3%
• By 2100: 208,786 · -28.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 25% Two or more races 14% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 2%
• Common ancestry: Lithuanian 5% Italian 2% Iranian 2%
• Foreign-born: 14% · Canada, South Korea, China
• Languages at home: 77% English-only · Spanish 18% Korean 2% French/Haitian/Cajun 1%

Political lean MEDSL · Dutchess

• 2024 margin: Lean D (+5.4) · D 52.7% · R 47.3%
• 2008→2024 swing: -3.2pp toward R · 2008: 8.6pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+9.6 2016: R+1.1 2012: D+6.6 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.87%
• Current HPI: 289.3974
• Rent YoY: —
• Metro: —
• 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

+97.2% since first listed

10 events — show timeline

• 2025-05-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-15 Listed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2024-02-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-02-27 Sold (MLS) $86,000 OneKey® MLS as Distributed by MLS Grid
• 2016-06-13 Listed $86,500 OneKey® MLS as Distributed by MLS Grid
• 2016-05-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-03-01 Listed $155,000 OneKey® MLS as Distributed by MLS Grid
• 2014-04-06 Listed $177,000 OneKey® MLS as Distributed by MLS Grid
• 2013-12-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-05-29 Listed $177,500 OneKey® MLS as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $4,960 · +26.8% YoY. Source: county tax records.