7 Ellsworth St St · Philmont, NY 12565

$420,000

24 bd · 16.0 ba · 3,945 sqft · MultiFamily · 91 Days on market

Built 1984 Fair condition 8,276 sqft lot $106/sqft · 19% below area Est $518k · 19% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Well-maintained 4-unit multifamily property located at 7-9 Ellsworth St in the heart of Philmont. This solid investment opportunity features three 1 bedroom, 1 bath apartments and one spacious 3 bedroom, 1 bath unit. Each apartment offers in-unit washer and dryer hookups, providing added convenience for tenants. Three of the four units are currently rented with active leases in place, while one unit is vacant--ideal for an owner-occupant or to generate additional rental income. Each one bedroom unit offers ample space with full sized kitchen, living room and dining area. The property offers seasonal Catskill Mountain views from all four apartments, adding to its charm and tenant appeal. Off-street parking is available at 5 Ellsworth St on a separate tax map id but sold with this property, located just diagonally across the street. With strong rental potential, desirable unit mix, and a convenient village location, this property is a fantastic opportunity for both seasoned investors and those looking to enter the rental market. 2 miles to TSP, 15 Minutes to Hudson, Amtrak and Chatham.

Key facts

• Off street parking
• 8,276 sq ft lot
• Built 1984

Tags

• OFF STREET PARKING
• CONVENIENT VILLAGE LOCATION

What this means for you Summary

Snapshot

• This is a 3×1bd/1ba + 1×3bd/1ba units multifamily listed at $420k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $762/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $420k).
• Recommended offer: $382k (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 $118k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($382k) is reasonable based on typical stale-listing flexibility.

Recommended offer $382,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.79% ✓
• Cap rate: 15.00%
• Cash-on-cash: 31.08%
• DSCR: 2.38
• GRM: 4.6

CMA / ARV

• ARV (median comp): $517,523
• List price: $420,000
• Delta: -18.84%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 30.2%
• Equity multiple: 2.42×
• Total profit: $166,444
• Equity at exit: $105,576

10-year hold

• IRR: 34.7%
• Equity multiple: 4.69×
• Total profit: $433,535
• Equity at exit: $114,477

Cash invested: $117,600 (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: 19.0×

Monthly cashflow live

• Estimated rent: $7,530 medium
• Mortgage (P&I): −$2,203
• Tax est. 1.5%: −$525 /mo · $6,300/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,581
• Net cashflow: $3,046

Break-even live

Break-even rent $3,674

Max offer price $420,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$5,529
1× unit	3	1	$2,000
Total (4 units)			$7,530

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $420,000 Active 91 DOM
2. 2026-06-18
   days on market $420,000 Active 90 DOM
3. 2026-06-17
   days on market $420,000 Active 89 DOM
4. 2026-06-16
   days on market $420,000 Active 88 DOM
5. 2026-06-15
   days on market $420,000 Active 87 DOM
6. 2026-06-14
   days on market $420,000 Active 85 DOM
7. 2026-06-12
   days on market $420,000 Active 84 DOM
8. 2026-06-09
   days on market $420,000 Active 81 DOM
9. 2026-06-08
   days on market $420,000 Active 80 DOM
10. 2026-06-07
    days on market $420,000 Active 79 DOM
11. 2026-06-07
    days on market $420,000 Active 78 DOM
12. 2026-06-04
    days on market $420,000 Active 75 DOM
13. 2026-06-02
    days on market $420,000 Active 74 DOM
14. 2026-06-01
    days on market $420,000 Active 73 DOM
15. 2026-05-31
    days on market $420,000 Active 72 DOM
16. 2026-05-31
    days on market $420,000 Active 71 DOM
17. 2026-03-19
    listed $420,000 Active 1100-char remark

    Show marketing remark (1100 chars)

    Well-maintained 4-unit multifamily property located at 7-9 Ellsworth St in the heart of Philmont. This solid investment opportunity features three 1 bedroom, 1 bath apartments and one spacious 3 bedroom, 1 bath unit. Each apartment offers in-unit washer and dryer hookups, providing added convenience for tenants. Three of the four units are currently rented with active leases in place, while one unit is vacant--ideal for an owner-occupant or to generate additional rental income. Each one bedroom unit offers ample space with full sized kitchen, living room and dining area. The property offers seasonal Catskill Mountain views from all four apartments, adding to its charm and tenant appeal. Off-street parking is available at 5 Ellsworth St on a separate tax map id but sold with this property, located just diagonally across the street. With strong rental potential, desirable unit mix, and a convenient village location, this property is a fantastic opportunity for both seasoned investors and those looking to enter the rental market. 2 miles to TSP, 15 Minutes to Hudson, Amtrak and Chatham.

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $90,360
• − Mortgage interest: −$23,527
• − Property taxes: −$6,300
• − Insurance: −$2,100
• − Repairs & maintenance: −$7,229
• − Management: −$7,229
• − Depreciation: −$12,218
• Taxable income: $31,758
• Est. tax owed @ 24.0%: −$7,622
• After-tax cash flow: $28,932/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 · 14 photos

Fair 45/100 Moderate rehab

This 4-unit multifamily property requires moderate repairs and maintenance to improve its condition and increase its value. Upgrading the kitchen and painting the interior walls will make the property more appealing to potential buyers and renters.

Repairs flagged

• Moderate Kitchen cabinets — The cabinets are outdated and may need replacement or updating.
• Moderate Kitchen appliances — The appliances are outdated and may need replacement or updating.
• Moderate Exterior siding — The siding shows signs of wear and tear and may need repainting or replacement.
• Minor Landscaping — The landscaping is overgrown and could benefit from trimming and maintenance.

Value-add opportunities

• Resale Replace kitchen cabinets and appliances — Updating the kitchen will make the property more appealing to potential buyers and increase its resale value.
• Resale Paint interior walls — Painting the interior walls will freshen up the space and make it more appealing to potential buyers.
• Rental Trim and maintain landscaping — Maintaining the landscaping will improve the curb appeal and make the property more attractive to potential renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets are outdated and may need replacement or updating.	Moderate	$3,000–15,000
Kitchen appliances · The appliances are outdated and may need replacement or updating.	Moderate	$3,000–15,000
Exterior siding · The siding shows signs of wear and tear and may need repainting or replacement.	Moderate	$3,000–15,000
Landscaping · The landscaping is overgrown and could benefit from trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 4 items		$9,500–48,000

Value-add ROI direction

• Resale Replace kitchen cabinets and appliances — Updating the kitchen will make the property more appealing to potential buyers and increase its resale value. ↑
• Resale Paint interior walls — Painting the interior walls will freshen up the space and make it more appealing to potential buyers. ↑
• Rental Trim and maintain landscaping — Maintaining the landscaping will improve the curb appeal and make the property more attractive to potential 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: 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

1 event — show timeline

• 2026-03-19 Listed $420,000 HVCRMLS