189 Grand St · Newburgh, NY 12550

$424,000

5 bd · 4.0 ba · 2,314 sqft · MultiFamily public records · 466 Days on market

Built 1890 9,450 sqft lot Est $377k · 12% over

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Why this score? — see what drove the C+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Painstakingly renovated exterior, the interior is yours to really bring out the value add. Plans and approval for 4 unit conversion are already in hand and will be transferred to the buyer. High ceilings, original floors, trims and mantels. Creative Seller Financing IS available.

Key facts

• 9,450 sq ft lot
• Built 1890
• Listed 466 days

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2.0-bath units multifamily listed at $424k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive. Per door: $739/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $424k).
• Recommended offer: $373k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 4.4% in Newburgh — 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 62/100 on livability (#878 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+, cost of living B; Watch: employment D+, crime F, amenities F.
• Newburgh City School District (suburban): math 33% / reading 48% proficiency, ranked #500 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Newburgh Free Academy (math 76% / reading 85%, grade A, #506 of 1,100 statewide, top 46%, 3,433 students, 56% FRL).
• Zoned-school proficiency averages 80% at this address vs 40% district-wide (+40 pts) — the actual schools serving this property are materially stronger than the Newburgh City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 384 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $119k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 466 days — a 12% lower offer ($373k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 11y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $340k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $373,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 466 days. Have you received any prior offers? Is the seller open to a 12% 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 1890 — 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. 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 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. 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: 1.88% ✓
• Cap rate: 14.66%
• Cash-on-cash: 29.87%
• DSCR: 2.33
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $377,182
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 Johnston St	0.21mi	5/3.0	2,240 (-3%)	1mo	$285,000	$127	80
181 First St	0.34mi	5/2.0	2,450 (+6%)	15mo	$335,000	$137	54
298 Liberty St	0.06mi	6/3.0 (+1)	2,573 (+11%)	20mo	$370,000	$144	53
95 Liberty St	0.55mi	4/4.0 (-1)	2,400 (+4%)	14mo	$545,000	$227	52
186 S William St	0.73mi	5/3.0	2,160 (-7%)	8mo	$408,000	$189	44
16 Lutheran St	0.52mi	6/2.0 (+1)	2,508 (+8%)	13mo	$380,000	$152	38
15 E Parmenter St	0.59mi	5/2.5	2,468 (+7%)	24mo	$555,000	$225	35
60 Johnston St	0.32mi	6/2.0 (+1)	2,625 (+13%)	18mo	$298,000	$114	34
231 3rd St	0.43mi	4/2.0 (-1)	2,034 (-12%)	20mo	$332,000	$163	30
121 Gidney Ave	0.43mi	6/2.0 (+1)	1,992 (-14%)	22mo	$456,000	$229	26

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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 1.85×
• Total profit: $101,320
• Equity at exit: $63,220

10-year hold

• IRR: 28.0%
• Equity multiple: 3.19×
• Total profit: $259,466
• Equity at exit: $36,660

Cash invested: $118,720 (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 12550

• Home prices YoY: -33.3%
• Rents YoY: 0.6%
• Active inventory: 384
• Price-to-rent: 17.7×

Monthly cashflow live

• Estimated rent: $7,967 high
• Mortgage (P&I): −$2,224
• Tax from tax record: −$939 /mo · $11,263/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,673
• Net cashflow: $2,955

Break-even live

Break-even rent $4,226

Max offer price $424,000

Occupancy floor 58%

Sensitivity live

Price	-10% $3,195	-5% $3,075	+0% $2,955	+5% $2,835	+10% $2,715
Rent	-10% $2,326	-5% $2,640	+0% $2,955	+5% $3,270	+10% $3,585
Rate	-1.0pp $3,169	-0.5pp $3,063	base $2,955	+0.5pp $2,845	+1.0pp $2,733

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$7,968
Total (4 units)			$7,967

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: $106,000
• Closing costs: $12,720
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
166 Montgomery St Newburgh, NY	4.0	2.0	3200	$3,950	$1.23	44d	1	0.17mi
160 N Miller St #1 Newburgh, NY	4.0	1.0	1600	$2,500	$1.56	44d	1	0.27mi

Listing history 30 events

1. 2026-04-01
   soldstatus $340,000
2. 2026-02-24
   status Pending
3. 2025-11-12
   status Active
4. 2025-11-12
   historical
5. 2025-05-06
   price $424,000
6. 2024-11-15
   listed $449,000 Active
7. 2024-10-01
   historical
8. 2024-09-12
   status Active
9. 2024-09-05
   status Active
10. 2024-06-19
    status Active
11. 2024-05-21
    listed $450,000 Active
12. 2024-01-21
    historical
13. 2023-11-28
    status Active
14. 2023-11-21
    historical
15. 2023-10-13
    price $519,000
16. 2023-09-27
    status Active
17. 2023-09-21
    historical
18. 2023-07-25
    status Active
19. 2023-07-21
    historical
20. 2023-03-30
    listed $525,000 Active
21. 2022-11-14
    historical
22. 2022-09-28
    listed $440,000 Active
23. 2022-05-12
    historical
24. 2021-12-31
    historical
25. 2021-12-12
    listed $450,000 Active
26. 2021-08-04
    listed $499,999
27. 2015-06-02
    soldstatus $110,000
28. 2015-03-21
    listed $39,600
29. 2006-01-27
    soldstatus $287,000
30. 1988-04-20
    soldstatus $192,500

ⓘ 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: $11,263 · $939/mo
• Projected year-2 tax: $11,263 · $939/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 ≥100°F today · 16 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: $95,604
• − Mortgage interest: −$23,751
• − Property taxes: −$11,263
• − Insurance: −$2,120
• − Repairs & maintenance: −$7,648
• − Management: −$7,648
• − Depreciation: −$12,335
• Taxable income: $30,839
• Est. tax owed @ 24.0%: −$7,401
• After-tax cash flow: $28,060/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: Newburgh City School District
• NCES district ID: 3620700
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 48% ▲ 10.00%
• Median HH income: $56,387
• Composite: 35.46/100
• National rank: #4927
• State rank: #500 of 590 in NY

Livability — Newburgh

• Score: 62/100
• State rank: #878
• US rank: #17021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newburgh, NY
• County: Orange County · 267,004 people
• City population: 55,152
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 55,152
• Household income: $85,697
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2412.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 39% White 36% Black 20% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 18% · Canada, Dominican Republic
• Languages at home: 64% English-only · Spanish 30% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.93%
• Current HPI: 304.1046
• Rent YoY: ▲ 0.63%
• 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

+76.6% since first listed

30 events — show timeline

• 2026-04-01 Sold (Public Records) $340,000 Public Records
• 2026-02-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-11-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-06 Price Changed $424,000 OneKey® MLS as Distributed by MLS Grid
• 2024-11-15 Listed $449,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-09-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-09-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-06-19 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-05-21 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-11-28 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-11-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-10-13 Price Changed $519,000 OneKey® MLS as Distributed by MLS Grid
• 2023-09-27 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-09-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-07-25 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2023-07-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-03-30 Listed $525,000 OneKey® MLS as Distributed by MLS Grid
• 2022-11-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-09-28 Listed $440,000 OneKey® MLS as Distributed by MLS Grid
• 2022-05-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-12-12 Listed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2021-08-04 Listed $499,999 OneKey® MLS as Distributed by MLS Grid
• 2015-06-02 Sold (MLS) $110,000 OneKey® MLS as Distributed by MLS Grid
• 2015-03-21 Listed $39,600 OneKey® MLS as Distributed by MLS Grid
• 2006-01-27 Sold (Public Records) $287,000 Public Records
• 1988-04-20 Sold (Public Records) $192,500 Public Records

Property tax history

+3.2%/yr

Latest (2025): $11,263 · -4.8% YoY. Source: county tax records.