854 Columbia St · Hudson, NY 12534

$475,000

4 bd · 2.0 ba · 2,280 sqft · MultiFamily public records · 15 Days on market

Built 1900 2,178 sqft lot Est $885k · 46% under

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Why this score? — see what drove the A- 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 +26.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.8/10.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Just minutes from Hudson's restaurants, shops, galleries, Amtrak station, and everyday conveniences, this furnished two-unit property combines a highly walkable location with an established rental history and flexibility for future use. Each unit features a spacious living room, formal dining room, updated kitchen, two bedrooms, and an updated full bath. Original wood floors and paneled doors reflect the home's character, while thoughtful updates provide comfortable, move-in-ready living throughout. The property's walkable location is one of its greatest assets, placing many of Hudson's most popular destinations within easy reach. Whether maintained as a two-family investment property or adapted to suit changing needs, the combination of furnished units, proven rental performance, and a highly convenient location makes this an appealing offering in the Hudson market.

Key facts

• Formal dining room
• Updated full bath
• Original wood floors

Tags

• FURNISHED TWO-UNIT PROPERTY
• SPACIOUS LIVING ROOM
• FORMAL DINING ROOM
• UPDATED KITCHEN
• UPDATED FULL BATH
• ORIGINAL WOOD FLOORS

Property features AI

Finance

• Other: Zoned R5 (2-family residential)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available and connected; Cable available; Water connected; Sewer connected; 100 amp electric service
• Home design: Duplex residential income property; Two levels
• Construction: Asphalt roof; Brick/mortar and stone foundation; Built for residential income use
• Exterior features: Paved city street frontage; Publicly maintained road; Lot features: see remarks

Interior

• Flooring: Ceramic tile; Hardwood
• Heating & cooling: Natural gas heating; Steam heating; Window unit cooling
• Interior features: Ceramic tile and hardwood flooring; Window air conditioning units; Steam and natural gas heating
• Laundry & utility: Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $595/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $475k).
• Recommended offer: $468k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.3% in Hudson — 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 70/100 on livability (#430 in NY) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+; Watch: schools C-, commute F, employment F.
• Hudson City School District (town): math 38% / reading 47% proficiency, ranked #494 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.9%/yr); 161 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• At $5,335/mo this rent would consume 88% of the median local household income ($73k/yr) (locally 1083% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $51k of equity ($3k loan paydown + $48k appreciation (10.0% local appreciation)).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $133k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$82k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($468k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $94k; list at $475k implies a 405% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $467,875 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.73%
• DSCR: 1.48
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $884,640
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 8th St	0.20mi	3/2.0 (-1)	2,058 (-10%)	4mo	$799,000	$388	66
534 Washington St	0.39mi	4/2.0	1,990 (-13%)	14mo	$469,000	$236	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 34.3%
• Equity multiple: 3.73×
• Total profit: $362,585
• Equity at exit: $427,918

10-year hold

• IRR: 31.2%
• Equity multiple: 9.10×
• Total profit: $1,077,860
• Equity at exit: $922,821

Cash invested: $133,000 (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 12534

• Home prices YoY: 5.6%
• Rents YoY: 10.9%
• Active inventory: 161
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $5,335 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$336 /mo · $4,033/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,120
• Net cashflow: $1,190

Break-even live

Break-even rent $3,829

Max offer price $475,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,459	-5% $1,324	+0% $1,190	+5% $1,055	+10% $921
Rent	-10% $768	-5% $979	+0% $1,190	+5% $1,400	+10% $1,611
Rate	-1.0pp $1,429	-0.5pp $1,310	base $1,190	+0.5pp $1,067	+1.0pp $941

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,334
Total (2 units)			$5,335

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
437 State St Hudson, NY	3.0	3.0	1800	$8,000	$4.44	44d	1	0.55mi
258 Warren St Hudson, NY	3.0	2.0	2464	$5,300	$2.15	24d	1	0.85mi

Listing history 11 events

1. 2026-06-19
   days on market $475,000 Active 15 DOM
2. 2026-06-18
   days on market $475,000 Active 14 DOM
3. 2026-06-17
   days on market $475,000 Active 13 DOM
4. 2026-06-16
   days on market $475,000 Active 12 DOM
5. 2026-06-15
   days on market $475,000 Active 11 DOM
6. 2026-06-14
   days on market $475,000 Active 9 DOM
7. 2026-06-12
   days on market $475,000 Active 8 DOM
8. 2026-06-09
   days on market $475,000 Active 5 DOM
9. 2026-06-08
   days on market $475,000 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $475,000 Active 3 DOM

ⓘ 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: $4,033 · $336/mo
• Projected year-2 tax: $6,030 · $503/mo
• Expected delta: +$1,997/yr (+$166/mo · 49.5%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,020
• − Mortgage interest: −$26,607
• − Property taxes: −$4,033
• − Insurance: −$2,375
• − Repairs & maintenance: −$5,122
• − Management: −$5,122
• − Depreciation: −$13,818
• Taxable income: $6,943
• Est. tax owed @ 24.0%: −$1,666
• After-tax cash flow: $12,610/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: Hudson City School District
• NCES district ID: 3614940
• Math proficiency: 38% ▲ 4.00%
• Reading proficiency: 47% ▲ 7.00%
• Median HH income: $44,663
• Composite: 36.03/100
• National rank: #4779
• State rank: #494 of 590 in NY

Livability — Hudson

• Score: 70/100
• State rank: #430
• US rank: #7443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hudson, NY
• County: Columbia County · 17,176 people
• City population: 17,176
• Metro: Hudson, NY
• Population (ZIP): 17,176
• Household income: $72,741
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1083.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 7% Black 7% Hispanic / Latino 7% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Iranian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Chinese 1%

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: ▲ 25.98%
• Current HPI: 490.0412
• Rent YoY: ▲ 10.88%
• Metro: Hudson, 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

+630.8% since first listed

6 events — show timeline

• 2026-06-04 Listed $475,000 HVCRMLS
• 2026-06-04 Listed $475,000 HVCRMLS
• 2025-08-01 Listed $499,900 HVCRMLS
• 2025-08-01 Listed $499,900 HVCRMLS
• 2014-01-31 Sold (Public Records) $94,000 Public Records
• 2003-04-02 Sold (Public Records) $65,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $4,033 · -5.6% YoY. Source: county tax records.