18 White Gate Dr Unit C · Myers Corner, NY 12590

$187,000

1 bd · 1.0 ba · 800 sqft · Condo · 38 Days on market

Built 1971 Fair condition $305/mo HOA · 15% 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 +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +5.3/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.2/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to White Gate Condominiums, where this second floor one bedroom, end unit condo also features an additional room that can be used as a den, home office, or guest room. For added convenience, there is a laundry hookup in the unit for a stackable washer and dryer, as well as laundry in the complex. The living room, dining area, and bedroom all feature brand new carpeting, and the galley kitchen includes a brand new oven/stove. This pet friendly complex offers great amenities including an in-ground pool, tennis and basketball courts, and a playground. Conveniently located near major shopping, trains, and major highways, making commuting and everyday living easy. This is a great starter

Key facts

• Additional room
• Tennis courts
• Laundry hookup

Tags

• ADDITIONAL ROOM
• LAUNDRY HOOKUP
• IN GROUND POOL
• TENNIS COURTS
• BASKETBALL COURTS
• PLAYGROUND

Property features AI

Finance

• Other: Community pool
• HOA & community: Association with monthly fee; Monthly association fee covers common area and exterior maintenance, grounds care, pool service, sewer, snow removal, trash and water

Exterior

• Parking: Assigned parking
• Utilities: Central Hudson electric service; Public sewer; Water connected; Sewer connected; Electricity connected; Cable available; Public trash collection
• Home design: Condominium; Two-story building; unit on entry level 2; Actual property condition
• Construction: Frame construction; Vinyl siding
• Exterior features: Balcony; Community playground; Community tennis courts; Community basketball court; Community mailbox

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator; Electric water heater
• Bedrooms: No specific bedroom details provided
• Flooring: Carpet; Linoleum
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: Ceiling fans; Galley kitchen; Recessed lighting; Storage space; Washer/dryer hookup; Blinds on windows; Home office; Library/den; Basement storage
• Laundry & utility: In-unit laundry; Washer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $187k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-28 ($-333/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (2.1% below list).
• Meets the 1% rule at list price ($2k rent vs $187k).
• Recommended offer: $181k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 2.9% in Myers Corner — 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 69/100 on livability (#511 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A; Watch: amenities F, commute F, cost of living 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: James S Evans Elementary School (math 42% / reading 57%, grade D, #1,085 of 2,108 statewide, top 56%, 317 students, 33% 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 34% FRL vs 15% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.1%/yr); 206 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 38 days — a 3% lower offer ($181k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $181,390 (3.0% 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 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
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: 1.06% ✓
• Cap rate: 6.12%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 7.8

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: -21.5%
• Equity multiple: 0.28×
• Total profit: $-37,673
• Equity at exit: $27,882

10-year hold

• IRR: -27.8%
• Equity multiple: -0.08×
• Total profit: $-56,698
• Equity at exit: $16,168

Cash invested: $52,360 (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: 206
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,987 high
• Mortgage (P&I): −$981
• Tax est. 1.5%: −$234 /mo · $2,805/yr
• Insurance: −$78
• HOA: −$305
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $-28

Break-even live

Break-even rent $2,022

Max offer price $182,988

Occupancy floor 96%

Sensitivity live

Price	-10% $102	-5% $37	+0% $-28	+5% $-92	+10% $-157
Rent	-10% $-185	-5% $-106	+0% $-28	+5% $51	+10% $129
Rate	-1.0pp $66	-0.5pp $20	base $-28	+0.5pp $-76	+1.0pp $-125

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Scarborough Ln Unit A Wappingers Falls, NY	1.0	1.0	850	$1,950	$2.29	23d	1	0.32mi
94 Old Post Rd Unit 15B Wappingers Falls, NY	1.0	1.0	800	$1,700	$2.12	25d	1	0.42mi
46 N Gilmore Blvd Wappingers Falls, NY	2.0	1.5	864	$2,800	$3.24	45d	1	1.23mi
5118 Princess Cir Unit Two Bedroom Wappingers Falls, NY	2.0	2.0	1020	$2,250	$2.21	25d	1	1.25mi
5118 Princess Cir Unit Two Bedroom / One Bath Wappingers Falls, NY	2.0	1.0	880	$1,800	$2.05	25d	1	1.25mi
799 Sergeant Palmateer Way Unit C12 Wappingers Falls, NY	2.0	1.0	741	$2,300	$3.10	16d	1	1.27mi

HOA detail condo

• Monthly dues: $305 · $3,660/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-04-21
   status Pending
2. 2026-03-14
   listed $187,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 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: $23,842
• − Mortgage interest: −$10,475
• − Property taxes: −$2,805
• − Insurance: −$935
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − HOA: −$3,660
• − Depreciation: −$5,440
• Taxable loss: −$3,288
• Est. tax savings @ 24.0%: +$789
• After-tax cash flow: $456/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 · 2 photos

Fair 45/100 Cosmetic rehab

This condo is in fair condition with some cosmetic repairs needed, such as painting the exterior walls and repairing the roof. The property has a good layout and amenities, making it a good investment opportunity.

Repairs flagged

• Major roof — Signs of wear and tear on the roof
• Minor landscaping — Overgrown areas and lack of maintenance

Value-add opportunities

• Both paint exterior walls — Fresh paint can improve the curb appeal and overall appearance of the property.
• Both trim and maintain landscaping — Well-maintained landscaping can enhance the property's curb appeal and attract potential buyers or renters.
• Both repair roof — A repaired roof can prevent further damage and improve the property's overall condition, making it more attractive to buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of wear and tear on the roof	Major	$15,000–50,000
landscaping · Overgrown areas and lack of maintenance	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both paint exterior walls — Fresh paint can improve the curb appeal and overall appearance of the property. ↑
• Both trim and maintain landscaping — Well-maintained landscaping can enhance the property's curb appeal and attract potential buyers or renters. ↑
• Both repair roof — A repaired roof can prevent further damage and improve the property's overall condition, making it more attractive to buyers or renters. ↑

ⓘ 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: 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 — Myers Corner

• Score: 69/100
• State rank: #511
• US rank: #9062

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Myers Corner, NY
• County: Dutchess County · 188,048 people
• City population: 35,823
• 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

2 events — show timeline

• 2026-04-21 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-14 Listed $187,000 OneKey® MLS as Distributed by MLS Grid