17 Hammersley Ave · Poughkeepsie, NY 12601

$369,000

6 bd · 2.0 ba · 2,652 sqft · MultiFamily public records · 55 Days on market

Built 1925 7,405 sqft lot Est $390k · 5% under

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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 +14.4/30.0
• ARV discount +9.9/15.0
• 1% rule +6.9/10.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• 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: 2 units. confirmed

Listing remarks

Huge 2-Family with 6 bedrooms, 2 Bathrooms And A Southside Location! Each apt has 3 bedrooms, 1 bath, separate utilities plus there's a walk up attic and full basement. Property includes off the street parking and garage. Walking distance to shopping and transportation. Will not last.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $369k.

Deal economics

• At list price, monthly cash flow is $74 ($889/yr) — positive. Per door: $37/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $369k).
• Recommended offer: $358k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 3.4% in Poughkeepsie — 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 78/100 on livability (#165 in NY, #2,577 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: employment D+, crime F.
• Poughkeepsie City School District (suburban): math 29% / reading 42% proficiency, ranked #559 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Poughkeepsie Middle School (math 8% / reading 37%, grade F, #650 of 729 statewide, top 90%, 877 students, 82% FRL); Poughkeepsie High School (math 59% / reading 67%, grade B-, #819 of 1,100 statewide, top 74%, 1,165 students, 74% FRL).
• Market conditions: Rents rising (+3.7%/yr); 195 active listings in the ZIP; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $4,399/mo this rent would consume 83% of the median local household income ($64k/yr) (locally 2891% 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 $11k 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 55 days — a 3% lower offer ($358k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $305k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $357,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.19% ✓
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $389,844
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Gray St	0.12mi	6/2.0	2,452 (-8%)	4mo	$349,000	$142	78
338/340 Church St	0.14mi	6/2.0	2,692 (+2%)	20mo	$395,000	$147	74
328 Church St	0.11mi	5/2.0 (-1)	2,473 (-7%)	8mo	$340,000	$137	72
65 S Clinton St	0.19mi	5/5.0 (-1)	2,678 (+1%)	14mo	$550,000	$205	61
24 North White St	0.34mi	6/2.0	2,400 (-10%)	16mo	$215,000	$90	55
69 Glenwood Ave	0.57mi	6/3.0	2,475 (-7%)	7mo	$425,000	$172	52
44 Conklin St	0.68mi	5/2.0 (-1)	2,760 (+4%)	12mo	$377,000	$137	46
120 South Ave	0.65mi	6/3.0	2,880 (+9%)	6mo	$400,000	$139	46
33 Manitou Ave	0.39mi	5/2.0 (-1)	2,450 (-8%)	21mo	$422,000	$172	46
13 Grand St	0.74mi	5/3.0 (-1)	2,400 (-10%)	6mo	$489,250	$204	36

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.50×
• Total profit: $-51,503
• Equity at exit: $55,019

10-year hold

• IRR: -3.3%
• Equity multiple: 0.77×
• Total profit: $-23,963
• Equity at exit: $31,904

Cash invested: $103,320 (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 12601

• Rents YoY: 3.7%
• Active inventory: 195
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $4,399 high
• Mortgage (P&I): −$1,935
• Tax from tax record: −$1,312 /mo · $15,748/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$924
• Net cashflow: $74

Break-even live

Break-even rent $4,305

Max offer price $369,000

Occupancy floor 93%

Sensitivity live

Price	-10% $283	-5% $178	+0% $74	+5% $-30	+10% $-135
Rent	-10% $-273	-5% $-100	+0% $74	+5% $248	+10% $422
Rate	-1.0pp $260	-0.5pp $168	base $74	+0.5pp $-22	+1.0pp $-119

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,400
Total (2 units)			$4,399

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-19
   status Pending
2. 2026-01-22
   listed $369,000 Active
3. 2005-11-04
   soldstatus $305,000
4. 2002-04-15
   soldstatus $152,000
5. 1983-05-04
   soldstatus $34,000

ⓘ 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: $15,748 · $1,312/mo
• Projected year-2 tax: $15,748 · $1,312/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,788
• − Mortgage interest: −$20,670
• − Property taxes: −$15,748
• − Insurance: −$1,845
• − Repairs & maintenance: −$4,223
• − Management: −$4,223
• − Depreciation: −$10,735
• Taxable loss: −$4,655
• Est. tax savings @ 24.0%: +$1,117
• After-tax cash flow: $2,006/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: Poughkeepsie City School District
• NCES district ID: 3623760
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 42% ▲ 12.00%
• Median HH income: $39,159
• Composite: 29.68/100
• National rank: #6459
• State rank: #559 of 590 in NY

Livability — Poughkeepsie

• Score: 78/100
• State rank: #165
• US rank: #2577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poughkeepsie, NY
• County: Dutchess County · 188,048 people
• City population: 86,468
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 44,164
• Household income: $63,652
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 2891.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 17% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 79% English-only · Spanish 15% Other Indo-European 1% 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: ▼ -210.62%
• Current HPI: 293.9789
• Rent YoY: ▲ 3.67%
• 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

+985.3% since first listed

5 events — show timeline

• 2026-03-19 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-22 Listed $369,000 OneKey® MLS as Distributed by MLS Grid
• 2005-11-04 Sold (Public Records) $305,000 Public Records
• 2002-04-15 Sold (Public Records) $152,000 Public Records
• 1983-05-04 Sold (Public Records) $34,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $15,748 · +35.5% YoY. Source: county tax records.