36 Ackerman St

Beacon, NY 12508

$475,000D

4 bd · 2.5 ba · 2,187 sqft · Built 1900 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,801/mo
• Mortgage (P&I): −$2,491
• Tax + insurance: −$1,341
• HOA: −$0
• Vac / Maint / Mgmt: −$798
• Net cashflow: $-829/mo
• Annual: $-9,947/yr
• Cap rate: 4.20%
• Cash-on-cash: -7.48%
• DSCR: 0.67
• 1% rule: 0.80%
• Cash to close: $133,000

Investor read

• This is a 4-bed/2.5-bath single-family listed at $475k.
• At list price, monthly cash flow is $-829 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $329k (30.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $380k (20.0% below list).
• It's been on market 20 days — a 2% lower offer ($468k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $329k (30.8% below list) — sets the bar for cash-flow.
• 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.
• Location reads 86/100 on livability (#20 in NY, #385 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Beacon City School District (suburban): math 56% / reading 56% proficiency, ranked #304 of 755 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+9.1%/yr); 109 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y 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.
• 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.
• Cap rate 4.2% vs local median 2.7% in Beacon — 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.
• At $3,801/mo this rent would consume 49% of the median local household income ($92k/yr) (locally 815% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.