10-14 Kelder Hwy · Shokan, NY 12461

$599,000

6 bd · 3.0 ba · 2,320 sqft · MultiFamily · 42 Days on market

Built 2002 Good condition 1.70 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.9/10.0
• Schools +5.2/10.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• 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 MLS

Tucked into the scenic countryside of Olivebridge, this rare dual-residence property at 10 & 14 Kelder Highway offers versatility, income potential, and easy upstate living on 1.7 picturesque acres. The first residence is a quaint 3 bed / 1 bath cottage recently updated with new appliances, new flooring, and fresh paint throughout. The main level features two bedrooms, one bathroom, eat in kitchen, large living room and a laundry closet. Upstairs a large light filled bedroom and additional storage space. Bright and efficient, this home is perfectly suited for guests, long term tenants, or as a primary residence. The second home features a spacious 3 bed / 2 bath manufactured home, also updated with new kitchen appliances, new flooring, new lighting and fresh paint. This home has high ceilings, large windows and a generous sized primary bedroom with en suite bathroom and double closets. Adding even more value a concrete block storage shed, with electricity could be used as outdoor storage, a workshop or studio space. Set in the low tax Town of Olive the property is surrounded by peaceful mountain views while still providing convienent access to Kingston, Stone Ridge and Woodstock. Just a short drive to the Ashokan Reservoir for picturesque trails, biking paths, and panoramic views. Whether you are looking for your next investment venture, or to create a flexible living situation, this unique turn key offering delivers both comfort and opportunity.

Key facts

• Updated appliances
• Income potential
• Fresh paint

Tags

• DUAL-RESIDENCE PROPERTY
• INCOME POTENTIAL
• PICTURESQUE ACRES
• UPDATED APPLIANCES
• NEW FLOORING
• FRESH PAINT

Property features AI

Exterior

• Utilities: Septic tank
• Home design: Single family residence; Residential property
• Construction: Concrete basement
• Exterior features: Front porch; Rear porch; Landscaped lot; Level lot; Has a view; Guest house; Second residence; Outbuilding; Shed(s); Workshop; Additional storage

Interior

• Kitchen: Dishwasher; Free-standing gas oven
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Propane heating
• Interior features: Eat-in kitchen; Storage
• Laundry & utility: Washer hookup; Electric dryer hookup; 200+ amp electrical service

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $599k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $599k).
• Recommended offer: $581k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 1.8% in Shokan — 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 (#888 in NY) — a middle-class / working-renter tenant base. Strengths: crime A, housing A-; Watch: schools F, amenities F, commute F.
• Onteora Central School District (rural): math 58% / reading 59% proficiency, ranked #288 of 755 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 37 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($4k loan paydown + $10k appreciation (1.7% local appreciation)).
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $581,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.60% ✓
• Cap rate: 13.19%
• Cash-on-cash: 24.64%
• DSCR: 2.10
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 2.50×
• Total profit: $252,384
• Equity at exit: $227,530

10-year hold

• IRR: 30.1%
• Equity multiple: 4.83×
• Total profit: $642,830
• Equity at exit: $321,068

Cash invested: $167,720 (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 12461

• Home prices YoY: 0.5%
• Active inventory: 37
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $9,600 medium
• Mortgage (P&I): −$3,141
• Tax est. 1.5%: −$749 /mo · $8,985/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,016
• Net cashflow: $3,444

Break-even live

Break-even rent $5,240

Max offer price $599,000

Occupancy floor 59%

Sensitivity live

Price	-10% $3,858	-5% $3,651	+0% $3,444	+5% $3,237	+10% $3,030
Rent	-10% $2,686	-5% $3,065	+0% $3,444	+5% $3,824	+10% $4,203
Rate	-1.0pp $3,746	-0.5pp $3,597	base $3,444	+0.5pp $3,289	+1.0pp $3,131

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$4,800
1× unit	3	2	$4,800
Total (2 units)			$9,600

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-12
   statusdays on market $599,000 Pending 42 DOM
2. 2026-06-09
   days on market $599,000 Active Under Contract 40 DOM
3. 2026-06-08
   days on market $599,000 Active Under Contract 39 DOM
4. 2026-06-07
   days on market $599,000 Active Under Contract 38 DOM
5. 2026-06-05
   days on market $599,000 Active Under Contract 35 DOM
6. 2026-06-02
   days on market $599,000 Active Under Contract 33 DOM
7. 2026-06-01
   days on market $599,000 Active Under Contract 32 DOM
8. 2026-05-31
   days on market $599,000 Active Under Contract 31 DOM
9. 2026-05-30
   days on market $599,000 Active Under Contract 30 DOM
10. 2026-05-13
    historical Active Under Contract 1476-char remark

    Show marketing remark (1476 chars)

    Tucked into the scenic countryside of Olivebridge, this rare dual-residence property at 10 & 14 Kelder Highway offers versatility, income potential, and easy upstate living on 1.7 picturesque acres. The first residence is a quaint 3 bed / 1 bath cottage recently updated with new appliances, new flooring, and fresh paint throughout. The main level features two bedrooms, one bathroom, eat in kitchen, large living room and a laundry closet. Upstairs a large light filled bedroom and additional storage space. Bright and efficient, this home is perfectly suited for guests, long term tenants, or as a primary residence. The second home features a spacious 3 bed / 2 bath manufactured home, also updated with new kitchen appliances, new flooring, new lighting and fresh paint. This home has high ceilings, large windows and a generous sized primary bedroom with en suite bathroom and double closets. Adding even more value a concrete block storage shed, with electricity could be used as outdoor storage, a workshop or studio space. Set in the low tax Town of Olive the property is surrounded by peaceful mountain views while still providing convienent access to Kingston, Stone Ridge and Woodstock. Just a short drive to the Ashokan Reservoir for picturesque trails, biking paths, and panoramic views. Whether you are looking for your next investment venture, or to create a flexible living situation, this unique turn key offering delivers both comfort and opportunity.

11. 2026-05-13
    historical Active Under Contract 1476-char remark

    Show marketing remark (1476 chars)

    Tucked into the scenic countryside of Olivebridge, this rare dual-residence property at 10 & 14 Kelder Highway offers versatility, income potential, and easy upstate living on 1.7 picturesque acres. The first residence is a quaint 3 bed / 1 bath cottage recently updated with new appliances, new flooring, and fresh paint throughout. The main level features two bedrooms, one bathroom, eat in kitchen, large living room and a laundry closet. Upstairs a large light filled bedroom and additional storage space. Bright and efficient, this home is perfectly suited for guests, long term tenants, or as a primary residence. The second home features a spacious 3 bed / 2 bath manufactured home, also updated with new kitchen appliances, new flooring, new lighting and fresh paint. This home has high ceilings, large windows and a generous sized primary bedroom with en suite bathroom and double closets. Adding even more value a concrete block storage shed, with electricity could be used as outdoor storage, a workshop or studio space. Set in the low tax Town of Olive the property is surrounded by peaceful mountain views while still providing convienent access to Kingston, Stone Ridge and Woodstock. Just a short drive to the Ashokan Reservoir for picturesque trails, biking paths, and panoramic views. Whether you are looking for your next investment venture, or to create a flexible living situation, this unique turn key offering delivers both comfort and opportunity.

12. 2026-04-30
    listed $599,000 Active 1476-char remark

    Show marketing remark (1476 chars)

    Tucked into the scenic countryside of Olivebridge, this rare dual-residence property at 10 & 14 Kelder Highway offers versatility, income potential, and easy upstate living on 1.7 picturesque acres. The first residence is a quaint 3 bed / 1 bath cottage recently updated with new appliances, new flooring, and fresh paint throughout. The main level features two bedrooms, one bathroom, eat in kitchen, large living room and a laundry closet. Upstairs a large light filled bedroom and additional storage space. Bright and efficient, this home is perfectly suited for guests, long term tenants, or as a primary residence. The second home features a spacious 3 bed / 2 bath manufactured home, also updated with new kitchen appliances, new flooring, new lighting and fresh paint. This home has high ceilings, large windows and a generous sized primary bedroom with en suite bathroom and double closets. Adding even more value a concrete block storage shed, with electricity could be used as outdoor storage, a workshop or studio space. Set in the low tax Town of Olive the property is surrounded by peaceful mountain views while still providing convienent access to Kingston, Stone Ridge and Woodstock. Just a short drive to the Ashokan Reservoir for picturesque trails, biking paths, and panoramic views. Whether you are looking for your next investment venture, or to create a flexible living situation, this unique turn key offering delivers both comfort and opportunity.

13. 2026-04-28
    listed $599,000 Active 1476-char remark
14. 2026-04-26
    historical $599,000 1476-char remark

    Show marketing remark (1476 chars)

    Tucked into the scenic countryside of Olivebridge, this rare dual-residence property at 10 & 14 Kelder Highway offers versatility, income potential, and easy upstate living on 1.7 picturesque acres. The first residence is a quaint 3 bed / 1 bath cottage recently updated with new appliances, new flooring, and fresh paint throughout. The main level features two bedrooms, one bathroom, eat in kitchen, large living room and a laundry closet. Upstairs a large light filled bedroom and additional storage space. Bright and efficient, this home is perfectly suited for guests, long term tenants, or as a primary residence. The second home features a spacious 3 bed / 2 bath manufactured home, also updated with new kitchen appliances, new flooring, new lighting and fresh paint. This home has high ceilings, large windows and a generous sized primary bedroom with en suite bathroom and double closets. Adding even more value a concrete block storage shed, with electricity could be used as outdoor storage, a workshop or studio space. Set in the low tax Town of Olive the property is surrounded by peaceful mountain views while still providing convienent access to Kingston, Stone Ridge and Woodstock. Just a short drive to the Ashokan Reservoir for picturesque trails, biking paths, and panoramic views. Whether you are looking for your next investment venture, or to create a flexible living situation, this unique turn key offering delivers both comfort and opportunity.

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $115,200
• − Mortgage interest: −$33,553
• − Property taxes: −$8,985
• − Insurance: −$2,995
• − Repairs & maintenance: −$9,216
• − Management: −$9,216
• − Depreciation: −$17,425
• Taxable income: $33,809
• Est. tax owed @ 24.0%: −$8,114
• After-tax cash flow: $33,219/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 · 13 photos

Good 75/100 Cosmetic rehab

This dual-residence property is in good condition with minimal repairs needed. Painting and landscaping improvements can significantly enhance its resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, attracting more buyers and renters.
• Both Landscaping improvements — Well-maintained landscaping can improve the property's curb appeal and attract more potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, attracting more buyers and renters. ↑
• Both Landscaping improvements — Well-maintained landscaping can improve the property's curb appeal and attract more potential buyers and 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: Onteora Central School District
• NCES district ID: 3621840
• Math proficiency: 58% ▬ 0.00%
• Reading proficiency: 59% ▼ -3.00%
• Median HH income: $56,997
• Composite: 52.17/100
• National rank: #3482
• State rank: #288 of 755 in NY

Livability — Shokan

• Score: 62/100
• State rank: #888
• US rank: #17222

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,359
• Population (ZIP): 1,426

Population outlook (Ulster County) Hauer SSP2

• Today (2025): 175,887 people
• By 2030: 171,876 · -2.3%
• By 2040: 161,771 · -8.0%
• By 2050: 151,470 · -13.9%
• By 2075: 133,023 · -24.4%
• By 2100: 113,504 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 16% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 9% Lithuanian 8% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Ulster

• 2024 margin: D (+18.7) · D 59.3% · R 40.7%
• 2008→2024 swing: -4.9pp toward R · 2008: 23.6pp · 2024: 18.7pp
• All cycles: 2024: D+18.7 2020: D+20.9 2016: D+9.1 2012: D+21.9 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.73%
• Current HPI: 346.6673
• 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

+0.0% since first listed

7 events — show timeline

• 2026-06-11 Pending — HVCRMLS
• 2026-06-11 Pending — HVCRMLS
• 2026-05-13 Contingent — HVCRMLS
• 2026-05-13 Contingent — HVCRMLS
• 2026-04-30 Listed $599,000 HVCRMLS
• 2026-04-28 Listed $599,000 HVCRMLS
• 2026-04-26 Coming Soon $599,000 HVCRMLS