60 Prospect St · Philmont, NY 12565

$375,000

4 bd · 2.0 ba · 2,500 sqft · MultiFamily · 119 Days on market

Built 1900 Fair condition 10,454 sqft lot $150/sqft · 29% below area Est $532k · 29% under

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Why this score? — see what drove the B- 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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Appreciation +4.6/10.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

In the heart of Philmont, this two-family home offers steady investment value alongside original details that maintain character and charm of its era. The lower level offers 3 bedrooms and 1 bath with generous living space, while the upper unit features 2 bedrooms and 1 bath--each enjoying abundant natural light and its own outdoor patio. Both apartments are separately metered, making management straightforward and expenses clear. Well maintained throughout, with off-street parking and long-term tenants in place, this property delivers consistent income in a charming village setting. A solid addition to a portfolio--or an opportunity to live in one unit while the other helps offset expenses.

Key facts

• Off street parking
• Original details
• Two family home

Tags

• TWO FAMILY HOME
• ORIGINAL DETAILS
• OUTDOOR PATIO
• OFF STREET PARKING
• CHARMING VILLAGE SETTING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $375k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive. Per door: $284/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $341k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#958 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B; Watch: schools F, crime F, amenities F.
• Taconic Hills Central School District (rural): math 53% / reading 51% proficiency, ranked #335 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 12 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $3k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.8% appreciation + 3.0% rent growth), your $105k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($341k) 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 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $341,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 1.07% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.50%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $531,902
• List price: $375,000
• Delta: -29.50%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-0.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.11×
• Total profit: $11,550
• Equity at exit: $94,265

10-year hold

• IRR: 8.7%
• Equity multiple: 1.87×
• Total profit: $91,132
• Equity at exit: $102,212

Cash invested: $105,000 (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 12565

• Home prices YoY: -0.2%
• Active inventory: 12
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $4,000 medium
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$840
• Net cashflow: $568

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,000
Total (2 units)			$4,000

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $375,000 Active 119 DOM
2. 2026-06-18
   days on market $375,000 Active 118 DOM
3. 2026-06-17
   days on market $375,000 Active 117 DOM
4. 2026-06-16
   days on market $375,000 Active 116 DOM
5. 2026-06-15
   days on market $375,000 Active 115 DOM
6. 2026-06-14
   days on market $375,000 Active 113 DOM
7. 2026-06-12
   days on market $375,000 Active 112 DOM
8. 2026-06-09
   days on market $375,000 Active 109 DOM
9. 2026-06-08
   days on market $375,000 Active 108 DOM
10. 2026-06-07
    days on market $375,000 Active 107 DOM
11. 2026-06-07
    days on market $375,000 Active 106 DOM
12. 2026-06-04
    days on market $375,000 Active 103 DOM
13. 2026-06-02
    days on market $375,000 Active 102 DOM
14. 2026-06-01
    days on market $375,000 Active 101 DOM
15. 2026-05-31
    days on market $375,000 Active 100 DOM
16. 2026-05-31
    days on market $375,000 Active 99 DOM
17. 2026-03-23
    status Active 700-char remark

    Show marketing remark (700 chars)

    In the heart of Philmont, this two-family home offers steady investment value alongside original details that maintain character and charm of its era. The lower level offers 3 bedrooms and 1 bath with generous living space, while the upper unit features 2 bedrooms and 1 bath--each enjoying abundant natural light and its own outdoor patio. Both apartments are separately metered, making management straightforward and expenses clear. Well maintained throughout, with off-street parking and long-term tenants in place, this property delivers consistent income in a charming village setting. A solid addition to a portfolio--or an opportunity to live in one unit while the other helps offset expenses.

18. 2026-03-13
    historical Active Under Contract 700-char remark

    Show marketing remark (700 chars)

    In the heart of Philmont, this two-family home offers steady investment value alongside original details that maintain character and charm of its era. The lower level offers 3 bedrooms and 1 bath with generous living space, while the upper unit features 2 bedrooms and 1 bath--each enjoying abundant natural light and its own outdoor patio. Both apartments are separately metered, making management straightforward and expenses clear. Well maintained throughout, with off-street parking and long-term tenants in place, this property delivers consistent income in a charming village setting. A solid addition to a portfolio--or an opportunity to live in one unit while the other helps offset expenses.

19. 2026-02-20
    listed $375,000 Active 700-char remark

    Show marketing remark (700 chars)

    In the heart of Philmont, this two-family home offers steady investment value alongside original details that maintain character and charm of its era. The lower level offers 3 bedrooms and 1 bath with generous living space, while the upper unit features 2 bedrooms and 1 bath--each enjoying abundant natural light and its own outdoor patio. Both apartments are separately metered, making management straightforward and expenses clear. Well maintained throughout, with off-street parking and long-term tenants in place, this property delivers consistent income in a charming village setting. A solid addition to a portfolio--or an opportunity to live in one unit while the other helps offset expenses.

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

Climate risk First Street

• 🌊 Flood 6/10 Major 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,000
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,840
• − Management: −$3,840
• − Depreciation: −$10,909
• Taxable income: $905
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $6,604/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 · 13 photos

Fair 45/100 Moderate rehab

This two-family home requires moderate renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Moderate Kitchen cabinets — The cabinets show signs of wear and could benefit from a fresh coat of paint or replacement.
• Moderate Bathroom fixtures — The fixtures in the bathrooms are dated and could be replaced with modern options.
• Moderate Exterior siding — The siding shows signs of wear and could benefit from repainting or replacement.
• Moderate Flooring — The flooring in the living areas shows signs of wear and could be replaced with more durable options.
• Moderate Paint — The interior walls and paint show signs of wear and could benefit from a fresh coat.
• Moderate Windows — The windows show signs of wear and could benefit from replacement or repainting.

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen with updated appliances and cabinetry would significantly increase the home's appeal to potential buyers.
• Resale Bathroom updates — Modernizing the bathrooms with updated fixtures and tile would improve the home's appeal and increase its resale value.
• Resale Exterior painting and siding — A fresh coat of paint and new siding would significantly improve the home's curb appeal and increase its resale value.
• Resale Flooring replacement — Replacing the flooring with durable, modern options would improve the home's overall appearance and increase its resale value.
• Resale Painting interior walls — A fresh coat of paint would improve the home's appearance and increase its resale value.
• Resale Window replacement — Replacing the windows with energy-efficient options would improve the home's energy efficiency and increase its resale value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets show signs of wear and could benefit from a fresh coat of paint or replacement.	Moderate	$3,000–15,000
Bathroom fixtures · The fixtures in the bathrooms are dated and could be replaced with modern options.	Moderate	$3,000–15,000
Exterior siding · The siding shows signs of wear and could benefit from repainting or replacement.	Moderate	$3,000–15,000
Flooring · The flooring in the living areas shows signs of wear and could be replaced with more durable options.	Moderate	$3,000–15,000
Paint · The interior walls and paint show signs of wear and could benefit from a fresh coat.	Moderate	$3,000–15,000
Windows · The windows show signs of wear and could benefit from replacement or repainting.	Moderate	$3,000–15,000
Total estimated repair cost · 6 items		$18,000–90,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen with updated appliances and cabinetry would significantly increase the home's appeal to potential buyers. ↑
• Resale Bathroom updates — Modernizing the bathrooms with updated fixtures and tile would improve the home's appeal and increase its resale value. ↑
• Resale Exterior painting and siding — A fresh coat of paint and new siding would significantly improve the home's curb appeal and increase its resale value. ↑
• Resale Flooring replacement — Replacing the flooring with durable, modern options would improve the home's overall appearance and increase its resale value. ↑
• Resale Painting interior walls — A fresh coat of paint would improve the home's appearance and increase its resale value. ↑
• Resale Window replacement — Replacing the windows with energy-efficient options would improve the home's energy efficiency and increase its resale value. ↑

ⓘ 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: Taconic Hills Central School District
• NCES district ID: 3628620
• Math proficiency: 53% ▲ 10.00%
• Reading proficiency: 51% ▲ 11.00%
• Median HH income: $57,329
• Composite: 45.16/100
• National rank: #2676
• State rank: #335 of 590 in NY

Livability — Philmont

• Score: 60/100
• State rank: #958
• US rank: #18780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Philmont, NY
• City population: 1,575
• Population (ZIP): 1,575

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 (79%)
• Race & ethnicity: White 79% Black 15% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Slovak 5% Iranian 4% Romanian 3%
• Foreign-born: 10% · Canada

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: ▼ -0.79%
• Current HPI: 377.9813
• Rent YoY: —
• Metro: —
• 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

3 events — show timeline

• 2026-03-23 Relisted — HVCRMLS
• 2026-03-13 Contingent — HVCRMLS
• 2026-02-20 Listed $375,000 HVCRMLS