5 Wildwood Dr Unit 8B · Wappingers Falls, NY 12590

$209,000

2 bd · 1.0 ba · 840 sqft · Condo public records · 59 Days on market

Built 1964 $395/mo HOA · 17% of rent

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Why this score? — see what drove the D 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 +11.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +5.3/10.0
• Livability +3.8/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming first floor 2 bedroom, 1 bath condo in Wappingers Falls, just minutes from Route 9. Inside, you’ll find hardwood floors, a spacious living area, and a kitchen with stainless steel appliances. Step outside to your own patio, perfect for morning coffee or evening relaxation. This unit includes one assigned parking spot, plus plenty of visitor parking for guests. Enjoy warm days at the community pool, and take advantage of the nearby shops, restaurants, and grocery stores. Commuters will love the quick access to Metro North, with a direct line to Grand Central. Offering the perfect mix of comfort, convenience, and location this condo is one you don’t want t

Key facts

• $395 HOA
• Parking
• Community pool

Property features AI

Finance

• HOA & community: Association with monthly fee of $395; HOA covers common area maintenance, exterior maintenance, pool service, snow removal, and trash; Association amenities include a pool

Exterior

• Parking: Assigned parking; Off-street parking; Parking lot; 1 parking space total
• Utilities: Public sewer; Cable available; Electricity available; Public trash collection
• Home design: Condominium; Entry level: 1
• Construction: Brick construction
• Exterior features: Community outdoor in-ground pool; Not waterfront

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Stainless steel appliances
• Bedrooms: 1 bedroom on the first floor
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Wall/window air conditioning unit(s)
• Interior features: First-floor bedroom; First-floor full bathroom; Ceiling fans; Eat-in kitchen; Covered porch

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $209k.

Deal economics

• At list price, monthly cash flow is $-78 ($-941/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (6.6% below list).
• Meets the 1% rule at list price ($2k rent vs $209k).
• Recommended offer: $195k (6.6% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.5% in Wappingers Falls — 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 76/100 on livability (#225 in NY, #3,541 nationally) — a middle-class / working-renter tenant base. Strengths: health & safety A+, commute A-, housing A-; Watch: crime C-, amenities C-, employment D.
• Wappingers Central School District (suburban): math 53% / reading 65% proficiency, ranked #207 of 590 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Myers Corners School (math 41% / reading 64%, grade C-, #984 of 2,108 statewide, top 47%, 825 students, 24% FRL); Wappingers Junior High School (math 30% / reading 54%, grade D-, #379 of 729 statewide, top 54%, 735 students, 36% FRL); Roy C Ketcham Senior High School (math 90% / reading 92%, grade A+, #203 of 1,100 statewide, top 20%, 1,612 students, 31% FRL) — zoned schools average 31% FRL vs 15% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.1%/yr); 205 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y 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 $55k; list at $209k implies a 280% gain — meaningful room to come down on a strong offer.

Recommended offer $195,151 (6.6% 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 59 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.08% ✓
• Cap rate: 5.84%
• Cash-on-cash: -1.61%
• DSCR: 0.93
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.23×
• Total profit: $-45,204
• Equity at exit: $31,163

10-year hold

• IRR: -34.3%
• Equity multiple: -0.20×
• Total profit: $-70,252
• Equity at exit: $18,071

Cash invested: $58,520 (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 12590

• Rents YoY: -1.1%
• Active inventory: 205
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,265 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$290 /mo · $3,478/yr
• Insurance: −$87
• HOA: −$395
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $-78

Break-even live

Break-even rent $2,365

Max offer price $195,151

Occupancy floor 98%

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Wildwood Dr Unit 12C Wappingers Falls, NY	2.0	1.0	840	$2,250	$2.68	43d	1	0.02mi
1668 Route 9 Unit 4F Wappingers Falls, NY	2.0	1.0	876	$2,300	$2.63	43d	1	0.73mi
1668 Route 9 Unit 5M Wappingers Falls, NY	2.0	1.0	911	$2,200	$2.41	43d	1	0.73mi
9 Colonial Dr Unit D4 Wappingers Falls, NY	1.0	1.0	645	$1,600	$2.48	23d	1	1.15mi
5118 Princess Cir Unit Two Bedroom / One Bath Wappingers Falls, NY	2.0	1.0	880	$1,800	$2.05	23d	1	1.22mi
5118 Princess Cir Unit Two Bedroom Wappingers Falls, NY	2.0	2.0	1020	$2,250	$2.21	23d	1	1.22mi
799 Sergeant Palmateer Way Unit C12 Wappingers Falls, NY	2.0	1.0	741	$2,300	$3.10	14d	1	1.40mi
10 Market St Unit C Wappingers Falls, NY	2.0	2.0	935	$2,650	$2.83	43d	1	1.43mi
10 Market St Unit D Wappingers Falls, NY	1.0	1.0	605	$2,175	$3.60	43d	1	1.43mi
10 Market St Unit B Wappingers Falls, NY	2.0	2.0	1000	$2,700	$2.70	14d	1	1.43mi
10 Market St Wappingers Falls, NY	1.0	1.0	600	$2,150	$3.58	43d	1	1.43mi

HOA detail condo

• Monthly dues: $395 · $4,740/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-04-30
   status Pending
2. 2026-04-25
   historical
3. 2026-04-01
   status Active
4. 2026-03-19
   status Pending
5. 2026-02-13
   listed $209,000 Active
6. 2026-02-10
   historical $209,000
7. 2025-07-02
   historical
8. 2025-05-16
   price $223,900
9. 2025-01-23
   listed $224,900 Active
10. 2024-10-28
    listed $224,950 Active
11. 2024-02-03
    historical
12. 2017-07-26
    historical
13. 2017-03-25
    price $104,900
14. 2017-03-24
    listed $104,500 Active
15. 2017-03-06
    listed $104,900
16. 2015-11-30
    historical
17. 2015-05-28
    listed $92,000
18. 2012-06-07
    soldstatus $55,000
19. 2012-05-11
    soldstatus $55,000
20. 2012-01-04
    listed $59,900
21. 1987-09-02
    soldstatus $69,490

ⓘ 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: $3,478 · $290/mo
• Projected year-2 tax: $3,505 · $292/mo
• Expected delta: +$27/yr (+$2/mo · 0.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $27,183
• − Mortgage interest: −$11,707
• − Property taxes: −$3,478
• − Insurance: −$1,045
• − Repairs & maintenance: −$2,175
• − Management: −$2,175
• − HOA: −$4,740
• − Depreciation: −$6,080
• Taxable loss: −$4,217
• Est. tax savings @ 24.0%: +$1,012
• After-tax cash flow: $71/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: Wappingers Central School District
• NCES district ID: 3629880
• Math proficiency: 53% ▼ -4.00%
• Reading proficiency: 65% ▲ 10.00%
• Median HH income: $83,184
• Composite: 53.38/100
• National rank: #1474
• State rank: #207 of 590 in NY

Livability — Wappingers Falls

• Score: 76/100
• State rank: #225
• US rank: #3541

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dutchess County · 188,048 people
• City population: 35,712
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 35,712
• Household income: $102,285
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 786.0

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 18% Two or more races 8% Black 8% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 3% Italian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 12% Other Indo-European 3% Chinese 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: ▼ -411.49%
• Current HPI: 255.2764
• Rent YoY: ▼ -1.08%
• 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

+200.8% since first listed

21 events — show timeline

• 2026-04-30 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-13 Listed $209,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-10 Coming Soon $209,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-16 Price Changed $223,900 OneKey® MLS as Distributed by MLS Grid
• 2025-01-23 Listed $224,900 OneKey® MLS as Distributed by MLS Grid
• 2024-10-28 Listed $224,950 OneKey® MLS as Distributed by MLS Grid
• 2024-02-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-07-26 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-03-25 Price Changed $104,900 OneKey® MLS as Distributed by MLS Grid
• 2017-03-24 Listed $104,500 OneKey® MLS as Distributed by MLS Grid
• 2017-03-06 Listed $104,900 OneKey® MLS as Distributed by MLS Grid
• 2015-11-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-05-28 Listed $92,000 OneKey® MLS as Distributed by MLS Grid
• 2012-06-07 Sold (Public Records) $55,000 Public Records
• 2012-05-11 Sold (MLS) $55,000 OneKey® MLS as Distributed by MLS Grid
• 2012-01-04 Listed $59,900 OneKey® MLS as Distributed by MLS Grid
• 1987-09-02 Sold (Public Records) $69,490 Public Records

Property tax history

+1.7%/yr

Latest (2025): $3,478 · +2.2% YoY. Source: county tax records.