323 Warren St · Hudson, NY 12534

$895,000

3 bd · 2.0 ba · 2,640 sqft · MultiFamily · 52 Days on market

Built 1850 Good condition 1,742 sqft lot $339/sqft · at area comps Est $891k · at est.

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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 +12.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.3/15.0
• Rent growth +5.0/5.0
• Condition / age +3.8/5.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0

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

Welcome to 323 Warren Street, a historic three-story building on one of Hudson's most prime commercial blocks, offering a combination of ground-floor retail space and two flexible upper floors that can operate as residential, commercial, or both. Circa 1850 and full of original character including a striking facade with a bracketed cornice crown, the building has already proven its potential as a launchpad for local beloved businesses: both Talbott and Arding, Hudson's celebrated cheese and provisions shop, and Bodhi Spa got their start here before outgrowing the space and expanding into larger footprints elsewhere in the city. With Hudson Hall at the historic Hudson Opera House two doors away, and the award-winning Maker hotel, restaurant, lounge, and cafe across the street, 323 Warren Street is well positioned among the institutions that have made this block the beating heart of Hudson's cultural and commercial life. The ground floor commands attention from the street with a large picture window, stone floors, subway tile, and wainscotting that give the space a polished, finished quality requiring little to no additional investment. A back room is ideal for a kitchen or prep area, a half bath with utility sink adds practical infrastructure, and a separate entrance keeps commercial and residential traffic entirely independent. The space lends itself equally well to a restaurant, wine bar, cheese shop, deli, bakery, boutique, gallery, apothecary, yoga studio, or spa, among the creative retail and hospitality concepts that have made Warren Street one of the most vibrant small-city commercial corridors in the Northeast. The second floor offers a generous front room overlooking Warren Street, a living and dining area, a kitchen with deck access, and a half bath with utility sink, offering flexibility as an owner's residence, a second commercial floor, or professional office space. The third floor offers three bedrooms with closets, wide plank original wood floors, and a full bath with a clawfoot tub. Hand-painted details on the stair risers are a quiet reminder of the building's craftsmanship and period character. Out back, a fenced yard provides outdoor space for a garden, dining terrace, or event overflow, and leads to a garage equipped with a full commercial refrigeration unit, a valuable asset for any food or beverage-focused business. Single-car parking is included, or remove refrigeration to utilize the full garage for multiple car parking and storage. The building has been updated with gas heating and ductless air conditioning throughout. 323 Warren Street sits at the center of one of the most sought-after blocks in Hudson, a city that has become a destination in its own right. The 300 block offers a historic architectural mix of residential, commercial, and mixed-use buildings, with Mel the Bakery, Culture Cream, and the Meat Hook directly across the street, and Feast and Floret and Wylde around the corner. The Hudson Amtrak station is a five-minute walk, with trains to New York City in two hours. For an owner-operator, an investor, or someone looking to live and work under one roof in one of the most dynamic small cities in the Northeast, 323 Warren Street is a smart investment in a chic rivertown that has no signs of slowing down.

Key facts

• Wainscotting
• Fenced yard
• Large picture window

Tags

• LARGE PICTURE WINDOW
• STONE FLOORS
• SUBWAY TILE
• WAINSCOTTING
• FENCED YARD

Property features AI

Finance

• Other: Lot about 0.04 acres (approximately 1,742 sq ft)
• Financial info: Property used as a 3-unit income property

Exterior

• Parking: Garage parking
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Triplex; Entry level and story configuration not specified
• Construction: Brick construction; Flat roof; Concrete perimeter foundation; Slab foundation; Built area approximately 2,640 (living area)
• Exterior features: Garden; Back yard fencing; Storage structure; Garage(s)

Interior

• Bedrooms: One unit includes 3 bedrooms
• Flooring: Wood flooring; Concrete flooring
• Bathrooms: 3 total bathrooms: 1 full, 2 half; Full bath located on 3rd level; Half baths located on 1st and 2nd levels
• Heating & cooling: Natural gas heating; Ductless cooling
• Interior features: Wood and concrete flooring; Garden views from exterior-facing rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $895k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-195 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $867k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $758k (15.3% below list).
• Recommended offer: $758k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.3% in Hudson — 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 70/100 on livability (#430 in NY) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+; Watch: schools C-, commute F, employment F.
• Hudson City School District (town): math 38% / reading 47% proficiency, ranked #494 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.9%/yr); 161 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• At $7,583/mo this rent would consume 125% of the median local household income ($73k/yr) (locally 1083% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $96k of equity ($6k loan paydown + $90k appreciation (10.0% local appreciation)).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$154k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($868k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $758,300 (15.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1850 — 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. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

• ARV (median comp): $890,932
• List price: $895,000
• Delta: 0.46%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 3.06×
• Total profit: $515,237
• Equity at exit: $806,287

10-year hold

• IRR: 23.7%
• Equity multiple: 7.49×
• Total profit: $1,626,540
• Equity at exit: $1,738,788

Cash invested: $250,600 (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 12534

• Home prices YoY: 5.6%
• Rents YoY: 10.9%
• Active inventory: 161
• Price-to-rent: 27.1×

Monthly cashflow live

• Estimated rent: $7,583 high
• Mortgage (P&I): −$4,693
• Tax est. 1.5%: −$1,119 /mo · $13,425/yr
• Insurance: −$373
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,592
• Net cashflow: $-195

Break-even live

Break-even rent $7,829

Max offer price $866,845

Occupancy floor 98%

Sensitivity live

Price	-10% $424	-5% $115	+0% $-195	+5% $-504	+10% $-813
Rent	-10% $-794	-5% $-494	+0% $-195	+5% $105	+10% $404
Rate	-1.0pp $256	-0.5pp $33	base $-195	+0.5pp $-426	+1.0pp $-662

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,754
▸ 2× units	0	1	$4,828
Total (3 units)			$7,583

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: $223,750
• Closing costs: $26,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
258 Warren St Hudson, NY	3.0	2.0	2464	$5,300	$2.15	24d	1	0.09mi
437 State St Hudson, NY	3.0	3.0	1800	$8,000	$4.44	44d	1	0.26mi
188 Mt Merino Rd Hudson, NY	4.0	3.5	2800	$11,000	$3.93	24d	1	1.44mi

Listing history 17 events

1. 2026-06-19
   days on market $895,000 Active 52 DOM
2. 2026-06-18
   days on market $895,000 Active 51 DOM
3. 2026-06-17
   days on market $895,000 Active 50 DOM
4. 2026-06-16
   days on market $895,000 Active 49 DOM
5. 2026-06-15
   days on market $895,000 Active 48 DOM
6. 2026-06-14
   days on market $895,000 Active 46 DOM
7. 2026-06-12
   days on market $895,000 Active 45 DOM
8. 2026-06-09
   days on market $895,000 Active 42 DOM
9. 2026-06-08
   days on market $895,000 Active 41 DOM
10. 2026-06-07
    days on market $895,000 Active 40 DOM
11. 2026-06-04
    days on market $895,000 Active 36 DOM
12. 2026-06-02
    days on market $895,000 Active 35 DOM
13. 2026-06-01
    days on market $895,000 Active 34 DOM

    Show marketing remark (3297 chars)

    Welcome to 323 Warren Street, a historic three-story building on one of Hudson's most prime commercial blocks, offering a combination of ground-floor retail space and two flexible upper floors that can operate as residential, commercial, or both. Circa 1850 and full of original character including a striking facade with a bracketed cornice crown, the building has already proven its potential as a launchpad for local beloved businesses: both Talbott and Arding, Hudson's celebrated cheese and provisions shop, and Bodhi Spa got their start here before outgrowing the space and expanding into larger footprints elsewhere in the city. With Hudson Hall at the historic Hudson Opera House two doors away, and the award-winning Maker hotel, restaurant, lounge, and cafe across the street, 323 Warren Street is well positioned among the institutions that have made this block the beating heart of Hudson's cultural and commercial life. The ground floor commands attention from the street with a large picture window, stone floors, subway tile, and wainscotting that give the space a polished, finished quality requiring little to no additional investment. A back room is ideal for a kitchen or prep area, a half bath with utility sink adds practical infrastructure, and a separate entrance keeps commercial and residential traffic entirely independent. The space lends itself equally well to a restaurant, wine bar, cheese shop, deli, bakery, boutique, gallery, apothecary, yoga studio, or spa, among the creative retail and hospitality concepts that have made Warren Street one of the most vibrant small-city commercial corridors in the Northeast. The second floor offers a generous front room overlooking Warren Street, a living and dining area, a kitchen with deck access, and a half bath with utility sink, offering flexibility as an owner's residence, a second commercial floor, or professional office space. The third floor offers three bedrooms with closets, wide plank original wood floors, and a full bath with a clawfoot tub. Hand-painted details on the stair risers are a quiet reminder of the building's craftsmanship and period character. Out back, a fenced yard provides outdoor space for a garden, dining terrace, or event overflow, and leads to a garage equipped with a full commercial refrigeration unit, a valuable asset for any food or beverage-focused business. Single-car parking is included, or remove refrigeration to utilize the full garage for multiple car parking and storage. The building has been updated with gas heating and ductless air conditioning throughout. 323 Warren Street sits at the center of one of the most sought-after blocks in Hudson, a city that has become a destination in its own right. The 300 block offers a historic architectural mix of residential, commercial, and mixed-use buildings, with Mel the Bakery, Culture Cream, and the Meat Hook directly across the street, and Feast and Floret and Wylde around the corner. The Hudson Amtrak station is a five-minute walk, with trains to New York City in two hours. For an owner-operator, an investor, or someone looking to live and work under one roof in one of the most dynamic small cities in the Northeast, 323 Warren Street is a smart investment in a chic rivertown that has no signs of slowing down.

14. 2026-05-31
    days on market $895,000 Active 33 DOM
15. 2026-05-31
    days on market $895,000 Active 32 DOM
16. 2026-04-28
    listed $895,000 Active 766-char remark

    Show marketing remark (3297 chars)

    Welcome to 323 Warren Street, a historic three-story building on one of Hudson's most prime commercial blocks, offering a combination of ground-floor retail space and two flexible upper floors that can operate as residential, commercial, or both. Circa 1850 and full of original character including a striking facade with a bracketed cornice crown, the building has already proven its potential as a launchpad for local beloved businesses: both Talbott and Arding, Hudson's celebrated cheese and provisions shop, and Bodhi Spa got their start here before outgrowing the space and expanding into larger footprints elsewhere in the city. With Hudson Hall at the historic Hudson Opera House two doors away, and the award-winning Maker hotel, restaurant, lounge, and cafe across the street, 323 Warren Street is well positioned among the institutions that have made this block the beating heart of Hudson's cultural and commercial life. The ground floor commands attention from the street with a large picture window, stone floors, subway tile, and wainscotting that give the space a polished, finished quality requiring little to no additional investment. A back room is ideal for a kitchen or prep area, a half bath with utility sink adds practical infrastructure, and a separate entrance keeps commercial and residential traffic entirely independent. The space lends itself equally well to a restaurant, wine bar, cheese shop, deli, bakery, boutique, gallery, apothecary, yoga studio, or spa, among the creative retail and hospitality concepts that have made Warren Street one of the most vibrant small-city commercial corridors in the Northeast. The second floor offers a generous front room overlooking Warren Street, a living and dining area, a kitchen with deck access, and a half bath with utility sink, offering flexibility as an owner's residence, a second commercial floor, or professional office space. The third floor offers three bedrooms with closets, wide plank original wood floors, and a full bath with a clawfoot tub. Hand-painted details on the stair risers are a quiet reminder of the building's craftsmanship and period character. Out back, a fenced yard provides outdoor space for a garden, dining terrace, or event overflow, and leads to a garage equipped with a full commercial refrigeration unit, a valuable asset for any food or beverage-focused business. Single-car parking is included, or remove refrigeration to utilize the full garage for multiple car parking and storage. The building has been updated with gas heating and ductless air conditioning throughout. 323 Warren Street sits at the center of one of the most sought-after blocks in Hudson, a city that has become a destination in its own right. The 300 block offers a historic architectural mix of residential, commercial, and mixed-use buildings, with Mel the Bakery, Culture Cream, and the Meat Hook directly across the street, and Feast and Floret and Wylde around the corner. The Hudson Amtrak station is a five-minute walk, with trains to New York City in two hours. For an owner-operator, an investor, or someone looking to live and work under one roof in one of the most dynamic small cities in the Northeast, 323 Warren Street is a smart investment in a chic rivertown that has no signs of slowing down.

17. 2026-04-28
    listed $895,000 Active 3297-char remark

    Show marketing remark (3297 chars)

    Welcome to 323 Warren Street, a historic three-story building on one of Hudson's most prime commercial blocks, offering a combination of ground-floor retail space and two flexible upper floors that can operate as residential, commercial, or both. Circa 1850 and full of original character including a striking facade with a bracketed cornice crown, the building has already proven its potential as a launchpad for local beloved businesses: both Talbott and Arding, Hudson's celebrated cheese and provisions shop, and Bodhi Spa got their start here before outgrowing the space and expanding into larger footprints elsewhere in the city. With Hudson Hall at the historic Hudson Opera House two doors away, and the award-winning Maker hotel, restaurant, lounge, and cafe across the street, 323 Warren Street is well positioned among the institutions that have made this block the beating heart of Hudson's cultural and commercial life. The ground floor commands attention from the street with a large picture window, stone floors, subway tile, and wainscotting that give the space a polished, finished quality requiring little to no additional investment. A back room is ideal for a kitchen or prep area, a half bath with utility sink adds practical infrastructure, and a separate entrance keeps commercial and residential traffic entirely independent. The space lends itself equally well to a restaurant, wine bar, cheese shop, deli, bakery, boutique, gallery, apothecary, yoga studio, or spa, among the creative retail and hospitality concepts that have made Warren Street one of the most vibrant small-city commercial corridors in the Northeast. The second floor offers a generous front room overlooking Warren Street, a living and dining area, a kitchen with deck access, and a half bath with utility sink, offering flexibility as an owner's residence, a second commercial floor, or professional office space. The third floor offers three bedrooms with closets, wide plank original wood floors, and a full bath with a clawfoot tub. Hand-painted details on the stair risers are a quiet reminder of the building's craftsmanship and period character. Out back, a fenced yard provides outdoor space for a garden, dining terrace, or event overflow, and leads to a garage equipped with a full commercial refrigeration unit, a valuable asset for any food or beverage-focused business. Single-car parking is included, or remove refrigeration to utilize the full garage for multiple car parking and storage. The building has been updated with gas heating and ductless air conditioning throughout. 323 Warren Street sits at the center of one of the most sought-after blocks in Hudson, a city that has become a destination in its own right. The 300 block offers a historic architectural mix of residential, commercial, and mixed-use buildings, with Mel the Bakery, Culture Cream, and the Meat Hook directly across the street, and Feast and Floret and Wylde around the corner. The Hudson Amtrak station is a five-minute walk, with trains to New York City in two hours. For an owner-operator, an investor, or someone looking to live and work under one roof in one of the most dynamic small cities in the Northeast, 323 Warren Street is a smart investment in a chic rivertown that has no signs of slowing down.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $90,996
• − Mortgage interest: −$50,134
• − Property taxes: −$13,425
• − Insurance: −$4,475
• − Repairs & maintenance: −$7,280
• − Management: −$7,280
• − Depreciation: −$26,036
• Taxable loss: −$17,634
• Est. tax savings @ 24.0%: +$4,232
• After-tax cash flow: $1,897/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This historic three-story building is in good condition with minimal repairs needed. It offers a combination of ground-floor retail space and two flexible upper floors, making it a versatile property for both residential and commercial use. The property's location on one of Hudson's busiest blocks adds significant value.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value
• Both HVAC system maintenance and upgrade — Improves comfort and energy efficiency
• Both Kitchen and bathroom updates — Modernizes spaces and enhances functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value ↑
• Both HVAC system maintenance and upgrade — Improves comfort and energy efficiency ↑
• Both Kitchen and bathroom updates — Modernizes spaces and enhances functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hudson City School District
• NCES district ID: 3614940
• Math proficiency: 38% ▲ 4.00%
• Reading proficiency: 47% ▲ 7.00%
• Median HH income: $44,663
• Composite: 36.03/100
• National rank: #4779
• State rank: #494 of 590 in NY

Livability — Hudson

• Score: 70/100
• State rank: #430
• US rank: #7443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hudson, NY
• County: Columbia County · 17,176 people
• City population: 17,176
• Metro: Hudson, NY
• Population (ZIP): 17,176
• Household income: $72,741
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1083.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 58,662 people
• By 2030: 56,557 · -3.6%
• By 2040: 51,324 · -12.5%
• By 2050: 45,790 · -21.9%
• By 2075: 35,232 · -39.9%
• By 2100: 25,846 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 7% Black 7% Hispanic / Latino 7% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Iranian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Chinese 1%

Political lean MEDSL · Columbia

• 2024 margin: D (+14.7) · D 57.4% · R 42.6%
• 2008→2024 swing: +1.3pp toward D · 2008: 13.4pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+16.7 2016: D+1.4 2012: D+11.7 2008: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.98%
• Current HPI: 490.0412
• Rent YoY: ▲ 10.88%
• Metro: Hudson, 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

+0.0% since first listed

3 events — show timeline

• 2026-06-01 Contingent — HVCRMLS
• 2026-04-28 Listed $895,000 Global MLS
• 2026-04-28 Listed $895,000 HVCRMLS