2261 State Route 66 · Ghent, NY 12075

$299,000

4 bd · 2.0 ba · 2,064 sqft · MultiFamily public records · 65 Days on market

Built 1900 5,662 sqft lot $145/sqft · 34% below area Est $453k · 34% under

---

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 +20.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• 1% rule +5.0/10.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Tenants require 48hour notice to show and only after 10a.m. No Sunday showings preferred. All photos pre-occupancy. Easy living in this low-maintenance, fully renovated income home. Two two-bedroom apartments, each with refrigerator, range/oven, washer/dryer. Covered front porch with a second-floor veranda above. Bright, happy home. Cable/High-speed internet available. 3 miles to Chatham Village/schools, 9 to Hudson/Amtrak, and a stroll to town park w/tennis courts, Bartlett House cafe and Dairy Queen. A wonderful small-town feel while being minutes from shopping and popular attractions, including bustling Warren Street, Chatham's Main Street, Omi, Hawthorne Valley Farm Store/School, libraries, MacHaydn and Crandell Theaters. Shown by Appt Only. Tenants require a minimum of 48-72 hours' notice.

Key facts

• Covered front porch
• Second-floor veranda
• Tennis courts

Tags

• FULLY RENOVATED INCOME HOME
• COVERED FRONT PORCH
• SECOND-FLOOR VERANDA
• 3 MILES TO CHATHAM VILLAGE
• STROLL TO TOWN PARK
• TENNIS COURTS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $281k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#780 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, schools D-, amenities F.
• Chatham Central School District (rural): math 48% / reading 53% proficiency, ranked #353 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 26 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k 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 + 3.0% rent growth), your $84k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 13y 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 $195k; list at $299k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.00% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.57%
• DSCR: 1.25
• GRM: 8.3

CMA / ARV

• ARV (median comp): $453,367
• List price: $299,000
• Delta: -34.05%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.3%
• Equity multiple: 3.24×
• Total profit: $187,567
• Equity at exit: $269,363

10-year hold

• IRR: 24.7%
• Equity multiple: 7.37×
• Total profit: $532,893
• Equity at exit: $580,891

Cash invested: $83,720 (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 12075

• Home prices YoY: 19.9%
• Active inventory: 26
• Price-to-rent: 16.6×

Monthly cashflow live

• Estimated rent: $3,000 medium
• Mortgage (P&I): −$1,568
• Tax from tax record: −$289 /mo · $3,470/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $388

Break-even live

Break-even rent $2,508

Max offer price $299,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,000
Total (2 units)			$3,000

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-19
   days on market $299,000 Active 65 DOM
2. 2026-06-18
   days on market $299,000 Active 64 DOM
3. 2026-06-17
   days on market $299,000 Active 63 DOM
4. 2026-06-16
   days on market $299,000 Active 62 DOM
5. 2026-06-15
   days on market $299,000 Active 61 DOM
6. 2026-06-14
   days on market $299,000 Active 59 DOM
7. 2026-06-12
   days on market $299,000 Active 58 DOM
8. 2026-06-09
   days on market $299,000 Active 55 DOM
9. 2026-06-08
   days on market $299,000 Active 54 DOM
10. 2026-06-07
    days on market $299,000 Active 53 DOM
11. 2026-06-04
    days on market $299,000 Active 49 DOM
12. 2026-06-02
    days on market $299,000 Active 48 DOM
13. 2026-06-01
    days on market $299,000 Active 47 DOM
14. 2026-05-31
    days on market $299,000 Active 46 DOM
15. 2026-05-31
    days on market $299,000 Active 45 DOM
16. 2026-04-14
    listed $299,000 Active 812-char remark

    Show marketing remark (1062 chars)

    Fully Rented. Tenants require 48-hour notice to show and only after 10a. m. Sunday showings not preferred. All photos pre-occupancy. Easy living in this low-maintenance, fully renovated income home. Two two-bedroom apartments, each with refrigerator, range/oven, washer/dryer. Covered front porch with a second-floor veranda above. Bright, happy home. Cable/High-speed internet available. 3 miles to Chatham Village/schools, 9 to Hudson/Amtrak, and a stroll to town park w/ tennis courts, Bartlett House cafe and Dairy Queen. A wonderful small-town feel while being minutes from shopping and popular attractions, including bustling Warren Street, Chatham's Main Street, Omi, Hawthorne Valley Farm Store/School, libraries, MacHaydn and Crandell Theaters. 1st flr tenant 1600/mth leased thru 3/31/27. 2nd flr tenant 1550/mth leased thru 4/14/27 (orig 4/2023). Shown by Appt Only. Fully Rented. Tenants require 48-hour notice to show and only after 10a. m. Sunday showings not preferred. All photos pre-occupancy. All information deemed reliable but not guaranteed.

17. 2026-04-14
    listed $299,000 Active 1062-char remark

    Show marketing remark (1062 chars)

    Fully Rented. Tenants require 48-hour notice to show and only after 10a. m. Sunday showings not preferred. All photos pre-occupancy. Easy living in this low-maintenance, fully renovated income home. Two two-bedroom apartments, each with refrigerator, range/oven, washer/dryer. Covered front porch with a second-floor veranda above. Bright, happy home. Cable/High-speed internet available. 3 miles to Chatham Village/schools, 9 to Hudson/Amtrak, and a stroll to town park w/ tennis courts, Bartlett House cafe and Dairy Queen. A wonderful small-town feel while being minutes from shopping and popular attractions, including bustling Warren Street, Chatham's Main Street, Omi, Hawthorne Valley Farm Store/School, libraries, MacHaydn and Crandell Theaters. 1st flr tenant 1600/mth leased thru 3/31/27. 2nd flr tenant 1550/mth leased thru 4/14/27 (orig 4/2023). Shown by Appt Only. Fully Rented. Tenants require 48-hour notice to show and only after 10a. m. Sunday showings not preferred. All photos pre-occupancy. All information deemed reliable but not guaranteed.

18. 2026-04-14
    listed $299,000 Active

    Show marketing remark (1062 chars)

    Fully Rented. Tenants require 48-hour notice to show and only after 10a. m. Sunday showings not preferred. All photos pre-occupancy. Easy living in this low-maintenance, fully renovated income home. Two two-bedroom apartments, each with refrigerator, range/oven, washer/dryer. Covered front porch with a second-floor veranda above. Bright, happy home. Cable/High-speed internet available. 3 miles to Chatham Village/schools, 9 to Hudson/Amtrak, and a stroll to town park w/ tennis courts, Bartlett House cafe and Dairy Queen. A wonderful small-town feel while being minutes from shopping and popular attractions, including bustling Warren Street, Chatham's Main Street, Omi, Hawthorne Valley Farm Store/School, libraries, MacHaydn and Crandell Theaters. 1st flr tenant 1600/mth leased thru 3/31/27. 2nd flr tenant 1550/mth leased thru 4/14/27 (orig 4/2023). Shown by Appt Only. Fully Rented. Tenants require 48-hour notice to show and only after 10a. m. Sunday showings not preferred. All photos pre-occupancy. All information deemed reliable but not guaranteed.

19. 2021-09-17
    soldstatus $195,000
20. 2021-09-10
    historical
21. 2021-09-10
    soldstatus $195,000
22. 2021-05-29
    listed $239,900
23. 2021-05-29
    listed $239,900
24. 2019-01-12
    historical
25. 2018-10-12
    listed $220,000
26. 2018-10-12
    listed $220,000
27. 2015-07-01
    listed $134,500
28. 2015-06-25
    listed $134,500
29. 2014-04-22
    historical
30. 2013-11-04
    listed $139,000
31. 2004-10-01
    soldstatus $115,000
32. 2002-04-23
    soldstatus $72,000
33. 1994-09-19
    soldstatus $50,000

ⓘ 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: $3,470 · $289/mo
• Projected year-2 tax: $4,261 · $355/mo
• Expected delta: +$792/yr (+$66/mo · 22.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,000
• − Mortgage interest: −$16,749
• − Property taxes: −$3,470
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,880
• − Management: −$2,880
• − Depreciation: −$8,698
• Taxable loss: −$171
• Est. tax savings @ 24.0%: +$41
• After-tax cash flow: $4,701/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: Chatham Central School District
• NCES district ID: 3607110
• Math proficiency: 48% ▼ -12.00%
• Reading proficiency: 53% ▲ 1.00%
• Median HH income: $61,460
• Composite: 44.28/100
• National rank: #2835
• State rank: #353 of 590 in NY

Livability — Ghent

• Score: 64/100
• State rank: #780
• US rank: #14852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ghent, NY
• Population (ZIP): 3,147

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 8% Two or more races 5% Black 3%
• Hispanic origin (detail): Puerto Rican 2% Dominican 6%
• Common ancestry: Slovak 7% Romanian 6% Lithuanian 5%
• Foreign-born: 8% · Canada
• Languages at home: 87% English-only · Spanish 6% German/W. Germanic 5% French/Haitian/Cajun 2%

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: ▲ 71.98%
• Current HPI: 434.2231
• 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

+498.0% since first listed

18 events — show timeline

• 2026-04-14 Listed $299,000 HVCRMLS
• 2026-04-14 Listed $299,000 HVCRMLS
• 2026-04-14 Listed $299,000 Global MLS
• 2021-09-17 Sold (Public Records) $195,000 Public Records
• 2021-09-10 Sold (MLS) $195,000 HVCRMLS
• 2021-09-10 Listing Removed — Global MLS
• 2021-05-29 Listed $239,900 HVCRMLS
• 2021-05-29 Listed $239,900 Global MLS
• 2019-01-12 Listing Removed — Global MLS
• 2018-10-12 Listed $220,000 Global MLS
• 2018-10-12 Listed $220,000 HVCRMLS
• 2015-07-01 Listed $134,500 HVCRMLS
• 2015-06-25 Listed $134,500 HVCRMLS
• 2014-04-22 Listing Removed — Global MLS
• 2013-11-04 Listed $139,000 Global MLS
• 2004-10-01 Sold (Public Records) $115,000 Public Records
• 2002-04-23 Sold (Public Records) $72,000 Public Records
• 1994-09-19 Sold (Public Records) $50,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $3,470 · +5.1% YoY. Source: county tax records.