7 Brodie Rd #23 · Chelsea Cove, NY 12533

$50,000

1 bd · 1.0 ba · 465 sqft · Condo · 5 Days on market

Built 1950 $264/mo HOA

---

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
• Schools +5.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

SEASONAL May 1 to October 31. NO short term rentals or subleasing. Pleasant View Acres private coop community on over 15 acres. It's like summer camp for the whole family! Put your vacation anxieties to rest! Cute summer bungalow for sale in a long established cooperative bungalow colony in lovely suburban area of Dutchess. Open and available for use from May 1 to October 31. Fully Furnished. Includes use of beach @ Red Wing Park Common room includes laundry and recreation room. The property is located just a short distance to TSP, Beekman Golf, Taconic Tennis Club (world class tennis/pool). Centrally located to Beacon, Millbrook, Hyde Park, Cold Spring and the Culinary Institute. HOA

Key facts

• Rare opportunity
• Centrally located
• Private fishing lake

Tags

• PRIVATE FISHING LAKE
• FULLY FURNISHED
• BEACH AT RED WING PARK
• CENTRALLY LOCATED
• RARE OPPORTUNITY

Property features AI

Finance

• HOA & community: Monthly association fee of $264; Association covers common area maintenance, electricity, hot water, trash and water; Has association

Exterior

• Parking: On-street parking
• Utilities: Electric service: Other; Sewer: Other; Utilities: See remarks
• Home design: Stock cooperative; Entry at level 1
• Construction: Frame construction
• Exterior features: Level, private lot; Shed(s); Not waterfront

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: First-floor bedroom (included above)
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; Deck and porch
• Laundry & utility: Common area laundry; Gas water heater

🏢 Co-op / cooperative unit. The $50,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $50k.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Cap rate 23.1% vs local median 2.5% in Chelsea Cove — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wappingers Central School District (suburban): math 53% / reading 65% proficiency, ranked #207 of 590 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Fishkill Elementary School (math 47% / reading 67%, grade C+, #842 of 2,108 statewide, top 43%, 362 students, 26% FRL).
• Market conditions: 202 active listings in the ZIP; high-income renter base; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• This rent is only 14% of the median local income ($142k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 14y 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.

Risks & watch-outs

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

Recommended offer $50,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.32% ✓
• Cap rate: 23.09%
• Cash-on-cash: 60.01%
• DSCR: 3.67
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 58.9%
• Equity multiple: 3.62×
• Total profit: $36,673
• Equity at exit: $7,455

10-year hold

• IRR: 63.7%
• Equity multiple: 7.44×
• Total profit: $90,109
• Equity at exit: $4,323

Cash invested: $14,000 (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 12533

• Active inventory: 202
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,658 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$264
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $700

Break-even live

Break-even rent $772

Max offer price $50,000

Occupancy floor 53%

Sensitivity live

Price	-10% $735	-5% $717	+0% $700	+5% $683	+10% $666
Rent	-10% $569	-5% $635	+0% $700	+5% $766	+10% $831
Rate	-1.0pp $725	-0.5pp $713	base $700	+0.5pp $687	+1.0pp $674

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $264 · $3,168/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $50,000 Active 5 DOM
2. 2026-06-17
   days on market $50,000 Active 4 DOM
3. 2026-06-16
   days on market $50,000 Active 3 DOM
4. 2026-06-15
   days on market $50,000 Active 2 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $50,000 Active 1 DOM

ⓘ 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 4/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,893
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − HOA: −$3,168
• − Depreciation: −$1,455
• Taxable income: $8,287
• Est. tax owed @ 24.0%: −$1,989
• After-tax cash flow: $6,412/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: Wappingers Central School District
• NCES district ID: 3629880
• Math proficiency: 53% ▼ -4.00%
• Reading proficiency: 65% ▲ 10.00%
• Median HH income: $83,184
• Composite: 53.38/100
• National rank: #1474
• State rank: #207 of 590 in NY

Livability — Chelsea Cove

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Dutchess County · 188,048 people
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 27,325
• Household income: $141,585
• Rent vs Own: 10.3% rent · 89.7% own
• Severe rent burden: 190.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Two or more races 13% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 3%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 83% English-only · Spanish 9% Other Indo-European 3% Arabic 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: ▼ -140.32%
• Current HPI: 232.2351
• Rent YoY: —
• 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

+150.0% since first listed

3 events — show timeline

• 2026-06-12 Listed $50,000 OneKey® MLS as Distributed by MLS Grid
• 2012-11-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-06-05 Listed $20,000 OneKey® MLS as Distributed by MLS Grid