12 May St · Poughkeepsie, NY 12603

$375,000

6 bd · 2.0 ba · 1,932 sqft · MultiFamily public records · 49 Days on market

Built 1925 3,485 sqft lot $194/sqft · 39% below area Est $610k · 39% under

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Why this score? — see what drove the B+ 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
• Livability +3.9/5.0
• Rent growth +3.0/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Outstanding Investment opportunity for someone looking for a 2 family in the city of Poughkeepsie priced to sell. Just 7 minutes to the Poughkeepsie Train Station. Live in one and rent the other. Enjoy hardwood floors throughout. The first floor unit has 2 bedrooms, a bonus room, good size living room with hardwood floors and eat in kitchen. The second floor unit has all hardwood floors, a generous size bedroom with a walk-in closet, 2 more bedrooms, living room, eat in kitchen and outside enclosed porch. No worries with newer replacement windows and a 2 year young roof. Easy living with separate utilities for each apartment and tenants pay utilities except for water. There is a washer/dryer (dryer set up for both gas and electric) hookup in the basement. Owner pays for water/sewer while tenants pay utilities Additional Information: Amenities:Storage,HeatingFuel:Oil Above Ground,

Key facts

• Close to restaurants
• Separate entrances
• Close to shopping

Tags

• SEPARATE ENTRANCES
• TENANT PAID UTILITIES
• CLOSE TO MARIST COLLEGE
• CLOSE TO VASSAR COLLEGE
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

Property features AI

Exterior

• Parking: No covered parking; No designated parking features
• Utilities: Public sewer; Public water available; Electricity available; Natural gas available; Cable available; Public trash collection
• Home design: Duplex; Measured building area of 1932 sq ft; Actual property condition
• Construction: Vinyl siding; Brick/mortar foundation
• Exterior features: Balcony; Juliet balcony; Garden; Back yard fencing

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Two 3-bedroom units
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Radiant heating; No central cooling
• Interior features: Eat-in kitchen; Entrance foyer
• Laundry & utility: Basement with storage space and walk-out access (unfinished)

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $375k).
• Recommended offer: $364k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 3.4% in Poughkeepsie — 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 78/100 on livability (#165 in NY, #2,577 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: employment D+, crime F.
• Poughkeepsie City School District (suburban): math 29% / reading 42% proficiency, ranked #559 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Smith Early Learning Center (297 students, 80% FRL); Poughkeepsie Middle School (math 8% / reading 37%, grade F, #650 of 729 statewide, top 90%, 877 students, 82% FRL); Poughkeepsie High School (math 59% / reading 67%, grade B-, #819 of 1,100 statewide, top 74%, 1,165 students, 74% FRL).
• Market conditions: Rents rising (+2.0%/yr); 209 active listings in the ZIP; 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 $3k of loan paydown is wiped out by about $11k 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.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $105k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago 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 $220k; list at $375k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• 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 $363,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.71% ✓
• Cap rate: 12.37%
• Cash-on-cash: 21.72%
• DSCR: 1.97
• GRM: 4.9

CMA / ARV

• ARV (median comp): $610,386
• List price: $375,000
• Delta: -38.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Fox Ter	0.10mi	6/2.0	2,000 (+4%)	10mo	$350,000	$175	81
30 S White St	0.09mi	5/2.0 (-1)	2,100 (+9%)	8mo	$380,000	$181	70
138 Montgomery St	0.45mi	5/2.0 (-1)	2,000 (+4%)	15mo	$725,000	$363	56
236 Mansion St	0.58mi	6/2.0	2,100 (+9%)	7mo	$444,500	$212	52
286 Mansion St	0.54mi	6/2.0	1,680 (-13%)	21mo	$435,000	$259	36
8 Hoffman Ave	0.40mi	5/2.0 (-1)	2,184 (+13%)	24mo	$135,000	$62	35

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 · 1.96% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.52×
• Total profit: $54,081
• Equity at exit: $55,914

10-year hold

• IRR: 21.1%
• Equity multiple: 2.70×
• Total profit: $178,089
• Equity at exit: $32,423

Cash invested: $105,000 (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 12603

• Rents YoY: 2.0%
• Active inventory: 209
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $6,412 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$1,042 /mo · $12,507/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,347
• Net cashflow: $1,900

Break-even live

Break-even rent $4,006

Max offer price $375,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,411
Total (3 units)			$6,412

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $375,000 Active 49 DOM
2. 2026-06-17
   days on market $375,000 Active 48 DOM
3. 2026-06-16
   days on market $375,000 Active 47 DOM
4. 2026-06-15
   days on market $375,000 Active 46 DOM
5. 2026-06-14
   days on market $375,000 Active 44 DOM
6. 2026-06-10
   days on market $375,000 Active 41 DOM
7. 2026-06-09
   days on market $375,000 Active 40 DOM
8. 2026-06-08
   days on market $375,000 Active 39 DOM
9. 2026-06-07
   days on market $375,000 Active 38 DOM
10. 2026-06-05
    days on market $375,000 Active 35 DOM
11. 2026-06-03
    days on market $375,000 Active 34 DOM
12. 2026-06-02
    days on market $375,000 Active 33 DOM
13. 2026-06-01
    days on market $375,000 Active 32 DOM
14. 2026-05-31
    days on market $375,000 Active 31 DOM
15. 2026-05-30
    days on market $375,000 Active 30 DOM
16. 2026-04-30
    listed $375,000 Active 457-char remark
17. 2020-12-30
    soldstatus $220,000 Closed 897-char remark

    Show marketing remark (897 chars)

    Outstanding Investment opportunity for someone looking for a 2 family in the city of Poughkeepsie priced to sell. Just 7 minutes to the Poughkeepsie Train Station. Live in one and rent the other. Enjoy hardwood floors throughout. The first floor unit has 2 bedrooms, a bonus room, good size living room with hardwood floors and eat in kitchen. The second floor unit has all hardwood floors, a generous size bedroom with a walk-in closet, 2 more bedrooms, living room, eat in kitchen and outside enclosed porch. No worries with newer replacement windows and a 2 year young roof. Easy living with separate utilities for each apartment and tenants pay utilities except for water. There is a washer/dryer (dryer set up for both gas and electric) hookup in the basement. Owner pays for water/sewer while tenants pay utilities Additional Information: Amenities:Storage,HeatingFuel:Oil Above Ground,

18. 2020-12-24
    status Pending 897-char remark

    Show marketing remark (897 chars)

    Outstanding Investment opportunity for someone looking for a 2 family in the city of Poughkeepsie priced to sell. Just 7 minutes to the Poughkeepsie Train Station. Live in one and rent the other. Enjoy hardwood floors throughout. The first floor unit has 2 bedrooms, a bonus room, good size living room with hardwood floors and eat in kitchen. The second floor unit has all hardwood floors, a generous size bedroom with a walk-in closet, 2 more bedrooms, living room, eat in kitchen and outside enclosed porch. No worries with newer replacement windows and a 2 year young roof. Easy living with separate utilities for each apartment and tenants pay utilities except for water. There is a washer/dryer (dryer set up for both gas and electric) hookup in the basement. Owner pays for water/sewer while tenants pay utilities Additional Information: Amenities:Storage,HeatingFuel:Oil Above Ground,

19. 2020-10-19
    listed $205,000 Active 897-char remark

    Show marketing remark (897 chars)

    Outstanding Investment opportunity for someone looking for a 2 family in the city of Poughkeepsie priced to sell. Just 7 minutes to the Poughkeepsie Train Station. Live in one and rent the other. Enjoy hardwood floors throughout. The first floor unit has 2 bedrooms, a bonus room, good size living room with hardwood floors and eat in kitchen. The second floor unit has all hardwood floors, a generous size bedroom with a walk-in closet, 2 more bedrooms, living room, eat in kitchen and outside enclosed porch. No worries with newer replacement windows and a 2 year young roof. Easy living with separate utilities for each apartment and tenants pay utilities except for water. There is a washer/dryer (dryer set up for both gas and electric) hookup in the basement. Owner pays for water/sewer while tenants pay utilities Additional Information: Amenities:Storage,HeatingFuel:Oil Above Ground,

20. 2020-10-19
    listed $205,000

    Show marketing remark (897 chars)

    Outstanding Investment opportunity for someone looking for a 2 family in the city of Poughkeepsie priced to sell. Just 7 minutes to the Poughkeepsie Train Station. Live in one and rent the other. Enjoy hardwood floors throughout. The first floor unit has 2 bedrooms, a bonus room, good size living room with hardwood floors and eat in kitchen. The second floor unit has all hardwood floors, a generous size bedroom with a walk-in closet, 2 more bedrooms, living room, eat in kitchen and outside enclosed porch. No worries with newer replacement windows and a 2 year young roof. Easy living with separate utilities for each apartment and tenants pay utilities except for water. There is a washer/dryer (dryer set up for both gas and electric) hookup in the basement. Owner pays for water/sewer while tenants pay utilities Additional Information: Amenities:Storage,HeatingFuel:Oil Above Ground,

21. 2001-01-26
    soldstatus $81,000

ⓘ 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: $12,507 · $1,042/mo
• Projected year-2 tax: $12,507 · $1,042/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 3/10 Moderate FEMA zone X (unshaded) · 16% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $76,944
• − Mortgage interest: −$21,006
• − Property taxes: −$12,507
• − Insurance: −$1,875
• − Repairs & maintenance: −$6,156
• − Management: −$6,156
• − Depreciation: −$10,909
• Taxable income: $18,336
• Est. tax owed @ 24.0%: −$4,401
• After-tax cash flow: $18,405/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: Poughkeepsie City School District
• NCES district ID: 3623760
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 42% ▲ 12.00%
• Median HH income: $39,159
• Composite: 29.68/100
• National rank: #6459
• State rank: #559 of 590 in NY

Livability — Poughkeepsie

• Score: 78/100
• State rank: #165
• US rank: #2577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poughkeepsie, NY
• County: Dutchess County · 188,048 people
• City population: 86,468
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 42,304
• Household income: $103,538
• Rent vs Own: 28.4% rent · 71.6% own
• Severe rent burden: 1404.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 13% Black 11% Two or more races 8% Asian 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Iranian 1%
• Foreign-born: 15% · Canada, China
• Languages at home: 81% English-only · Spanish 8% Other Indo-European 4% German/W. Germanic 2%

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: ▼ -377.61%
• Current HPI: 252.7003
• Rent YoY: ▲ 1.96%
• 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

+363.0% since first listed

6 events — show timeline

• 2026-04-30 Listed $375,000 OneKey® MLS as Distributed by MLS Grid
• 2020-12-30 Sold (MLS) $220,000 OneKey® MLS as Distributed by MLS Grid
• 2020-12-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2020-10-19 Listed $205,000 OneKey® MLS as Distributed by MLS Grid
• 2020-10-19 Listed $205,000 OneKey® MLS as Distributed by MLS Grid
• 2001-01-26 Sold (Public Records) $81,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $12,507 · +20.3% YoY. Source: county tax records.