6-8 Bell Dr · Highland, NY 12528

$399,999

4 bd · 3.0 ba · 2,104 sqft · MultiFamily · 66 Days on market

Built 1880 Average condition 0.75 ac lot $190/sqft · 38% below area Est $642k · 38% under

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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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.8/5.0
• Rent growth +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: 2 units. confirmed

Listing remarks MLS

Great investment opportunity in the heart of downtown Highland. This well-maintained 2-family property features one fully renovated unit and one unit with value-add potential—ideal for investors or owner-occupants looking to increase rents over time. Situated on a generous .75-acre lot on a quiet street, the property offers plenty of space to entertain, relax, and enjoy the surrounding setting. Each unit offers a spacious layout with abundant natural light. The renovated unit showcases updated flooring, modern finishes, and a beautifully upgraded kitchen with new appliances, sleek cabinetry, and ample counter space, along with a stylishly updated bathroom. The second unit provides a solid layout with the opportunity to renovate and add value, making this a compelling blend of immediate usability and future upside. Located just steps from Highland’s shops, restaurants, and local conveniences, with easy access to major roadways and the Walkway Over the Hudson, this property sits in a desirable and supply-constrained rental market.

Key facts

• Generous lot
• Modern finishes
• Updated flooring

Tags

• FULLY RENOVATED UNIT
• GENEROUS LOT
• SPACIOUS LAYOUT
• ABUNDANT NATURAL LIGHT
• UPDATED FLOORING
• MODERN FINISHES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $400k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive. Per door: $194/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $399k (0.2% below list).
• Recommended offer: $376k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 2.6% in Highland — 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 75/100 on livability (#251 in NY, #3,941 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living D-.
• Highland Central School District (suburban): math 50% / reading 69% proficiency, ranked #227 of 590 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 107 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 464 units permitted in Ulster County in 2024 (170 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 $12k of value loss. Plan a longer hold.
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($376k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $375,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 7.46%
• Cash-on-cash: 4.16%
• DSCR: 1.19
• GRM: 8.4

CMA / ARV

• ARV (median comp): $642,418
• List price: $399,999
• Delta: -37.74%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Vineyard Ave	0.62mi	4/3.0	2,400 (+14%)	5mo	$499,000	$208	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-40,007
• Equity at exit: $59,641

10-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-2,724
• Equity at exit: $34,585

Cash invested: $112,000 (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 12528

• Home prices YoY: -20.5%
• Active inventory: 107
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $3,991 high
• Mortgage (P&I): −$2,098
• Tax est. 1.5%: −$500 /mo · $6,000/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$838
• Net cashflow: $389

Break-even live

Break-even rent $3,499

Max offer price $399,999

Occupancy floor 85%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,992
Total (2 units)			$3,991

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61 Delafield St Unit 2 Poughkeepsie, NY	3.0	1.0	1400	$2,600	$1.86	13d	1	1.17mi
104 North Rd Highland, NY	3.0	2.5	1550	$3,100	$2.00	43d	1	1.26mi

Listing history 15 events

1. 2026-06-18
   days on market $399,999 Active 66 DOM
2. 2026-06-17
   days on market $399,999 Active 65 DOM
3. 2026-06-16
   days on market $399,999 Active 64 DOM
4. 2026-06-15
   days on market $399,999 Active 63 DOM
5. 2026-06-13
   days on market $399,999 Active 61 DOM
6. 2026-06-12
   days on market $399,999 Active 60 DOM
7. 2026-06-09
   days on market $399,999 Active 57 DOM
8. 2026-06-08
   days on market $399,999 Active 56 DOM
9. 2026-06-07
   days on market $399,999 Active 55 DOM
10. 2026-06-05
    days on market $399,999 Active 53 DOM
11. 2026-06-04
    days on market $399,999 Active 51 DOM
12. 2026-06-02
    days on market $399,999 Active 50 DOM
13. 2026-06-01
    days on market $399,999 Active 49 DOM
14. 2026-05-31
    days on market $399,999 Active 48 DOM
15. 2026-04-08
    listed $399,999 Active 1058-char remark

    Show marketing remark (1058 chars)

    Great investment opportunity in the heart of downtown Highland. This well-maintained 2-family property features one fully renovated unit and one unit with value-add potential—ideal for investors or owner-occupants looking to increase rents over time. Situated on a generous .75-acre lot on a quiet street, the property offers plenty of space to entertain, relax, and enjoy the surrounding setting. Each unit offers a spacious layout with abundant natural light. The renovated unit showcases updated flooring, modern finishes, and a beautifully upgraded kitchen with new appliances, sleek cabinetry, and ample counter space, along with a stylishly updated bathroom. The second unit provides a solid layout with the opportunity to renovate and add value, making this a compelling blend of immediate usability and future upside. Located just steps from Highland’s shops, restaurants, and local conveniences, with easy access to major roadways and the Walkway Over the Hudson, this property sits in a desirable and supply-constrained rental market.

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,892
• − Mortgage interest: −$22,406
• − Property taxes: −$6,000
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,831
• − Management: −$3,831
• − Depreciation: −$11,636
• Taxable loss: −$1,813
• Est. tax savings @ 24.0%: +$435
• After-tax cash flow: $5,098/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 · 12 photos

Average 55/100 Moderate rehab

This 2-family property offers a moderate level of renovation potential with average condition. The kitchen and bathroom could be updated to increase both resale and rental value.

Repairs flagged

• Minor kitchen cabinets — existing cabinetry
• Minor bathroom fixtures — existing fixtures
• Minor exterior siding — existing siding
• Minor interior walls — existing paint

Value-add opportunities

• Both update kitchen cabinets — modernizing the kitchen
• Both update bathroom fixtures — modernizing the bathroom
• Both repair exterior siding — improving curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · existing cabinetry	Minor	$500–3,000
bathroom fixtures · existing fixtures	Minor	$500–3,000
exterior siding · existing siding	Minor	$500–3,000
interior walls · existing paint	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both update kitchen cabinets — modernizing the kitchen ↑
• Both update bathroom fixtures — modernizing the bathroom ↑
• Both repair exterior siding — improving curb appeal ↑

ⓘ 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: Highland Central School District
• NCES district ID: 3614400
• Math proficiency: 50% ▼ -3.00%
• Reading proficiency: 69% ▲ 14.00%
• Median HH income: $63,600
• Composite: 51.89/100
• National rank: #1652
• State rank: #227 of 590 in NY

Livability — Highland

• Score: 75/100
• State rank: #251
• US rank: #3941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland, NY
• Population (ZIP): 13,818

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 10% Two or more races 9% Asian 7% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Slovak 2%
• Foreign-born: 11% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 9% Vietnamese 6% Other Indo-European 2%

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: ▼ -84.26%
• Current HPI: 327.3196
• 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

• 2026-04-08 Listed $399,999 OneKey® MLS as Distributed by MLS Grid