204 Ann St · Newburgh, NY 12550

$450,000

4 bd · 2.0 ba · 1,040 sqft · MultiFamily public records · 111 Days on market

Built 1950 1,800 sqft lot Est $520k · 13% under

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Why this score? — see what drove the C- 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 +18.1/30.0
• ARV discount +13.6/15.0
• DSCR +5.7/10.0
• 1% rule +4.7/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment property Fully rented. Close to the stores, Restaurants, Highways and schools. The Gross income is around $32,400.00 but could be more. . Could be sold as a package with the 2 other multi families in the city of Newburgh " MLS #S 965501 AND 961292 located at 202 Ann Street and 86 William St. Newburgh NY and they are all in very good condition with tenants leases month to month.

Key facts

• Close to restaurants
• Close to schools
• Investment property

Tags

• INVESTMENT PROPERTY
• FULLY RENTED
• CLOSE TO STORES
• CLOSE TO RESTAURANTS
• CLOSE TO HIGHWAYS
• CLOSE TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $437k (2.8% below list).
• Recommended offer: $410k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.4% in Newburgh — 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 62/100 on livability (#878 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+, cost of living B; Watch: employment D+, schools D, crime F.
• Newburgh City School District (suburban): math 33% / reading 48% proficiency, ranked #500 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 384 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• At $4,373/mo this rent would consume 61% of the median local household income ($86k/yr) (locally 2412% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($410k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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 $34k; list at $450k implies a 1224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $409,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.76%
• DSCR: 1.17
• GRM: 8.6

CMA / ARV

• ARV (median comp): $520,187
• List price: $450,000
• Delta: -13.49%
• 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
42 Hasbrouck St	0.17mi	4/3.0	1,008 (-3%)	3mo	$305,000	$303	80
73 S Robinson Ave	0.31mi	4/2.0	1,000 (-4%)	10mo	$345,000	$345	71
28 Hasbrouck St	0.16mi	4/3.0	1,188 (+14%)	3mo	$305,000	$257	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.54×
• Total profit: $-57,950
• Equity at exit: $67,096

10-year hold

• IRR: -8.2%
• Equity multiple: 0.54×
• Total profit: $-57,832
• Equity at exit: $38,908

Cash invested: $126,000 (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 12550

• Home prices YoY: -33.3%
• Rents YoY: 0.6%
• Active inventory: 384
• Price-to-rent: 25.7×

Monthly cashflow live

• Estimated rent: $4,373 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$513 /mo · $6,155/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$918
• Net cashflow: $394

Break-even live

Break-even rent $3,874

Max offer price $450,000

Occupancy floor 86%

Sensitivity live

Price	-10% $649	-5% $522	+0% $394	+5% $267	+10% $140
Rent	-10% $49	-5% $222	+0% $394	+5% $567	+10% $740
Rate	-1.0pp $621	-0.5pp $509	base $394	+0.5pp $278	+1.0pp $159

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,374
Total (3 units)			$4,373

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27 Clark St Newburgh, NY	3.0	1.0	785	$1,950	$2.48	45d	1	0.13mi
28 Hasbrouck St Newburgh, NY	3.0	1.5	1188	$2,700	$2.27	45d	1	0.17mi
42 Hasbrouck St Newburgh, NY	3.0	1.5	1008	$2,550	$2.53	45d	1	0.18mi
259 1st St Newburgh, NY	3.0	2.0	883	$2,000	$2.27	45d	1	0.18mi
52 S Miller St Newburgh, NY	3.0	1.0	889	$1,900	$2.14	45d	1	0.21mi
22 Benkard Ave Unit 1 Newburgh, NY	3.0	1.0	1075	$1,750	$1.63	45d	1	0.40mi
193 South St Unit 2 Newburgh, NY	3.0	1.5	1200	$2,415	$2.01	15d	1	0.50mi
81 Liberty Street Washington Hts Unit 2 Newburgh, NY	3.0	1.0	1362	$2,950	$2.17	45d	1	0.66mi
268 Carpenter Ave Unit 1 Newburgh, NY	3.0	2.0	950	$2,600	$2.74	24d	1	0.73mi
9 Arlington Pl Newburgh, NY	3.0	1.0	950	$2,300	$2.42	15d	1	0.73mi
171 West St Newburgh, NY	3.0	1.5	1299	$2,800	$2.16	24d	1	0.87mi
62 Poplar St Newburgh, NY	3.0	1.5	1272	$3,000	$2.36	24d	1	1.46mi

Listing history 25 events

1. 2026-06-21
   days on market $450,000 Active 111 DOM
2. 2026-06-18
   days on market $450,000 Active 108 DOM
3. 2026-06-17
   days on market $450,000 Active 107 DOM
4. 2026-06-16
   days on market $450,000 Active 106 DOM
5. 2026-06-15
   days on market $450,000 Active 105 DOM
6. 2026-06-14
   days on market $450,000 Active 103 DOM
7. 2026-06-13
   days on market $450,000 Active 102 DOM
8. 2026-06-10
   days on market $450,000 Active 100 DOM
9. 2026-06-09
   days on market $450,000 Active 99 DOM
10. 2026-06-08
    days on market $450,000 Active 98 DOM
11. 2026-06-07
    days on market $450,000 Active 97 DOM
12. 2026-06-03
    days on market $450,000 Active 93 DOM
13. 2026-06-02
    days on market $450,000 Active 92 DOM
14. 2026-06-01
    days on market $450,000 Active 91 DOM
15. 2026-05-31
    days on market $450,000 Active 90 DOM
16. 2026-05-30
    days on market $450,000 Active 89 DOM
17. 2026-03-02
    listed $450,000 Active 402-char remark

    Show marketing remark (402 chars)

    Great investment property Fully rented. Close to the stores, Restaurants, Highways and schools. The Gross income is around $32,400.00 but could be more. . Could be sold as a package with the 2 other multi families in the city of Newburgh " MLS #S 965501 AND 961292 located at 202 Ann Street and 86 William St. Newburgh NY and they are all in very good condition with tenants leases month to month.

18. 2017-04-13
    historical
19. 2017-04-05
    listed $80,000 Active
20. 2002-03-13
    soldstatus $34,000
21. 2002-02-22
    soldstatus $33,900
22. 2002-02-15
    historical
23. 2001-06-06
    listed $33,900
24. 1996-12-09
    soldstatus $50,000
25. 1996-10-21
    soldstatus $20,000

ⓘ 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: $6,155 · $513/mo
• Projected year-2 tax: $6,880 · $573/mo
• Expected delta: +$725/yr (+$60/mo · 11.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,476
• − Mortgage interest: −$25,207
• − Property taxes: −$6,155
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,198
• − Management: −$4,198
• − Depreciation: −$13,091
• Taxable loss: −$2,623
• Est. tax savings @ 24.0%: +$629
• After-tax cash flow: $5,363/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: Newburgh City School District
• NCES district ID: 3620700
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 48% ▲ 10.00%
• Median HH income: $56,387
• Composite: 35.46/100
• National rank: #4927
• State rank: #500 of 590 in NY

Livability — Newburgh

• Score: 62/100
• State rank: #878
• US rank: #17021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newburgh, NY
• County: Orange County · 267,004 people
• City population: 55,152
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 55,152
• Household income: $85,697
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2412.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 39% White 36% Black 20% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 18% · Canada, Dominican Republic
• Languages at home: 64% English-only · Spanish 30% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.93%
• Current HPI: 304.1046
• Rent YoY: ▲ 0.63%
• Metro: Poughkeepsie-Newburgh-Middletown, 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

+2150.0% since first listed

9 events — show timeline

• 2026-03-02 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2017-04-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-04-05 Listed $80,000 OneKey® MLS as Distributed by MLS Grid
• 2002-03-13 Sold (Public Records) $34,000 Public Records
• 2002-02-22 Sold (MLS) $33,900 HGMLS
• 2002-02-15 Delisted — HGMLS
• 2001-06-06 Listed $33,900 HGMLS
• 1996-12-09 Sold (Public Records) $50,000 Public Records
• 1996-10-21 Sold (Public Records) $20,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $6,155 · -1.9% YoY. Source: county tax records.