167 Broadway · Whitehall, NY 12887

$199,000

4 bd · 2.0 ba · 2,144 sqft · MultiFamily public records · 38 Days on market

Built 1950 Excellent condition 0.25 ac lot

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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 +19.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Condition / age +4.8/5.0
• Schools +3.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Beautifully renovated multifamily property. Each unit features one-bedroom layout. Inside you will find brand new appliances and an open concept living room & kitchen. Each unit has its own offroad parking spots. Whether you are an investor looking for a turnkey opportunity or a tenant searching for a fresh, move-in-ready apartment, this property offers the perfect blend of quality, comfort, and convenience.

Key facts

• Brand new appliances
• One-bedroom layout
• Turnkey opportunity

Tags

• RENOVATED MULTIFAMILY PROPERTY
• ONE-BEDROOM LAYOUT
• BRAND NEW APPLIANCES
• OPEN CONCEPT LIVING ROOM
• OFFROAD PARKING SPOTS
• TURNKEY OPPORTUNITY

Property features AI

Finance

• Financial info: Multi-family 2-unit property; tenants pay trash collection, internet, and cable TV

Exterior

• Parking: Off-street parking for 4 vehicles
• Security: Fire escape; Smoke detectors; Carbon monoxide detectors
• Utilities: 100 Amp electric service; Public water; Public sewer
• Home design: Duplex; Wood siding construction; Block foundation
• Construction: Wood siding; Block foundation
• Exterior features: Fire escape; Smoke detectors; Carbon monoxide detectors; Quarter-acre lot

Interior

• Bedrooms: Two units each with 1 bedroom (units on different levels)
• Bathrooms: Two full bathrooms (one on first level, one on second level)
• Heating & cooling: Electric heating
• Interior features: Paddle fan; ENERGY STAR qualified doors; Double-pane ENERGY STAR qualified windows

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $199k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#1,103 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Whitehall Central School District (rural): math 32% / reading 47% proficiency, ranked #530 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Whitehall Elementary School (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 353 students, 63% FRL); Whitehall Junior-Senior High School (math 47% / reading 62%, grade C-, #912 of 1,100 statewide, top 85%, 320 students, 54% FRL) — zoned schools average 58% FRL vs 43% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 39 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Washington County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. 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?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.02% ✓
• Cap rate: 7.69%
• Cash-on-cash: 5.00%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.9%
• Equity multiple: 3.21×
• Total profit: $123,205
• Equity at exit: $179,275

10-year hold

• IRR: 24.3%
• Equity multiple: 7.30×
• Total profit: $351,239
• Equity at exit: $386,613

Cash invested: $55,720 (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 12887

• Active inventory: 39
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $2,030 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$245 /mo · $2,939/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $232

Break-even live

Break-even rent $1,736

Max offer price $199,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,030
Total (2 units)			$2,030

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-03-22
   listed $199,000 Active

ⓘ 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: $2,939 · $245/mo
• Projected year-2 tax: $3,151 · $263/mo
• Expected delta: +$212/yr (+$18/mo · 7.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,360
• − Mortgage interest: −$11,147
• − Property taxes: −$2,939
• − Insurance: −$995
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − Depreciation: −$5,789
• Taxable loss: −$408
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $2,886/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

Excellent 95/100 None rehab

This multifamily property is in excellent condition with new appliances, flooring, and HVAC system. It is move-in ready and offers a great investment opportunity.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and property value
• Both Painting exterior — Maintains and enhances property value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and property value ↑
• Both Painting exterior — Maintains and enhances property 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: Whitehall Central School District
• NCES district ID: 3631290
• Math proficiency: 32% ▼ -1.00%
• Reading proficiency: 47% ▲ 5.00%
• Median HH income: $43,563
• Composite: 33.4/100
• National rank: #5477
• State rank: #530 of 590 in NY

Livability — Whitehall

• Score: 56/100
• State rank: #1103
• US rank: #22538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitehall, NY
• Population (ZIP): 4,629

Population outlook (Washington County) Hauer SSP2

• Today (2025): 59,576 people
• By 2030: 57,618 · -3.3%
• By 2040: 52,751 · -11.5%
• By 2050: 47,514 · -20.2%
• By 2075: 35,690 · -40.1%
• By 2100: 24,807 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 3%
• Common ancestry: Lithuanian 15% Polish 5% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+21.2) · D 39.4% · R 60.6%
• 2008→2024 swing: -22.0pp toward R · 2008: 0.8pp · 2024: -21.2pp
• All cycles: 2024: R+21.2 2020: R+15.6 2016: R+20.2 2012: D+1.6 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 122.64%
• Current HPI: 354.5975
• 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

2 events — show timeline

• 2026-04-29 Pending — Global MLS
• 2026-03-22 Listed $199,000 Global MLS