74 Van Ness St · Newburgh, NY 12550

$310,000

8 bd · 3.0 ba · 3,024 sqft · MultiFamily public records · 255 Days on market

Built 1920 2,363 sqft lot Est $536k · 42% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.4/30.0
• 1% rule +4.1/10.0
• DSCR +4.0/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• 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

In need of complete rehab!!! Brownstone in Newburgh, NY, offering incredible potential for the right buyer. This handyman special needs a complete rehab, making it the perfect canvas to bring your vision to life. Located near the waterfront and downtown shops, it offers a prime location with great amenities nearby. Don’t miss this opportunity to restore and transform a classic brownstone into something truly special. Being Sold as is!

Key facts

• Great amenities
• Complete rehab
• Prime location

Tags

• COMPLETE REHAB
• HANDYMAN SPECIAL
• PRIME LOCATION
• WATERFRONT
• DOWNTOWN SHOPS
• GREAT AMENITIES

What this means for you Summary

Snapshot

• This is a 8-bed/3.0-bath multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $5 ($60/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (8.8% below list).
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 4.4% in Newburgh — 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 (#878 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+, cost of living B; Watch: employment D+, schools D, crime F.
• Newburgh City School District (suburban): math 33% / reading 48% proficiency, ranked #500 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 384 active listings in the ZIP; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 40% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 255 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y 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 $38k; list at $310k implies a 716% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 255 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.91% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• GRM: 9.1

CMA / ARV

• ARV (median comp): $535,950
• List price: $310,000
• Delta: -42.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
55 Carpenter Ave	0.09mi	8/4.0	3,000 (-1%)	9mo	$435,000	$145	83
57 Carpenter Ave	0.08mi	7/3.0 (-1)	3,000 (-1%)	8mo	$460,000	$153	83
47 Carpenter Ave	0.07mi	8/3.0	3,234 (+7%)	23mo	$460,000	$142	66
27 Clark St	0.29mi	8/3.0	2,724 (-10%)	20mo	$410,000	$151	54
163 Chambers St	0.51mi	9/4.0 (+1)	2,880 (-5%)	7mo	$585,920	$203	53
87 Overlook Pl	0.65mi	8/3.0	3,159 (+4%)	11mo	$510,000	$161	53
11 Liberty St	0.61mi	7/3.0 (-1)	3,024 (0%)	17mo	$525,000	$174	52
189 Liberty St	0.44mi	7/5.0 (-1)	2,927 (-3%)	16mo	$565,000	$193	48
105 Renwick St	0.62mi	9/3.0 (+1)	3,132 (+4%)	16mo	$435,000	$139	47
103 Overlook Pl	0.63mi	9/3.0 (+1)	3,185 (+5%)	12mo	$580,000	$182	47
67 William St	0.34mi	9/3.0 (+1)	2,640 (-13%)	19mo	$420,000	$159	42
120 Renwick St	0.58mi	9/3.0 (+1)	3,384 (+12%)	15mo	$465,000	$137	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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.35×
• Total profit: $-56,404
• Equity at exit: $46,222

10-year hold

• IRR: -17.5%
• Equity multiple: 0.15×
• Total profit: $-74,082
• Equity at exit: $26,803

Cash invested: $86,800 (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 12550

• Home prices YoY: -33.3%
• Rents YoY: 0.6%
• Active inventory: 384
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,826 medium
• Mortgage (P&I): −$1,626
• Tax from tax record: −$473 /mo · $5,672/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $5

Break-even live

Break-even rent $2,820

Max offer price $310,000

Occupancy floor 95%

Sensitivity live

Price	-10% $180	-5% $93	+0% $5	+5% $-83	+10% $-171
Rent	-10% $-218	-5% $-107	+0% $5	+5% $117	+10% $228
Rate	-1.0pp $161	-0.5pp $84	base $5	+0.5pp $-75	+1.0pp $-157

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $310,000 Active 255 DOM
2. 2026-06-18
   days on market $310,000 Active 252 DOM
3. 2026-06-17
   days on market $310,000 Active 251 DOM
4. 2026-06-16
   days on market $310,000 Active 250 DOM
5. 2026-06-15
   days on market $310,000 Active 249 DOM
6. 2026-06-14
   days on market $310,000 Active 247 DOM
7. 2026-06-13
   days on market $310,000 Active 246 DOM
8. 2026-06-10
   days on market $310,000 Active 244 DOM
9. 2026-06-09
   days on market $310,000 Active 243 DOM
10. 2026-06-08
    days on market $310,000 Active 242 DOM
11. 2026-06-07
    days on market $310,000 Active 241 DOM
12. 2026-06-03
    days on market $310,000 Active 237 DOM
13. 2026-06-02
    days on market $310,000 Active 236 DOM
14. 2026-06-01
    days on market $310,000 Active 235 DOM
15. 2026-05-31
    days on market $310,000 Active 234 DOM
16. 2026-05-30
    days on market $310,000 Active 233 DOM
17. 2026-04-10
    status Active 444-char remark

    Show marketing remark (444 chars)

    In need of complete rehab!!! Brownstone in Newburgh, NY, offering incredible potential for the right buyer. This handyman special needs a complete rehab, making it the perfect canvas to bring your vision to life. Located near the waterfront and downtown shops, it offers a prime location with great amenities nearby. Don’t miss this opportunity to restore and transform a classic brownstone into something truly special. Being Sold as is!

18. 2026-04-09
    historical 444-char remark

    Show marketing remark (444 chars)

    In need of complete rehab!!! Brownstone in Newburgh, NY, offering incredible potential for the right buyer. This handyman special needs a complete rehab, making it the perfect canvas to bring your vision to life. Located near the waterfront and downtown shops, it offers a prime location with great amenities nearby. Don’t miss this opportunity to restore and transform a classic brownstone into something truly special. Being Sold as is!

19. 2026-02-18
    price $310,000 444-char remark

    Show marketing remark (444 chars)

    In need of complete rehab!!! Brownstone in Newburgh, NY, offering incredible potential for the right buyer. This handyman special needs a complete rehab, making it the perfect canvas to bring your vision to life. Located near the waterfront and downtown shops, it offers a prime location with great amenities nearby. Don’t miss this opportunity to restore and transform a classic brownstone into something truly special. Being Sold as is!

20. 2025-10-08
    listed $325,000 Active 444-char remark

    Show marketing remark (444 chars)

    In need of complete rehab!!! Brownstone in Newburgh, NY, offering incredible potential for the right buyer. This handyman special needs a complete rehab, making it the perfect canvas to bring your vision to life. Located near the waterfront and downtown shops, it offers a prime location with great amenities nearby. Don’t miss this opportunity to restore and transform a classic brownstone into something truly special. Being Sold as is!

21. 2025-06-29
    historical
22. 2025-01-08
    listed $350,000 Active
23. 2017-06-21
    soldstatus $38,000 Sold
24. 2017-05-01
    historical Pending
25. 2017-05-01
    status Active
26. 2017-04-13
    historical Pending
27. 2017-03-23
    listed $39,600 Active
28. 2006-04-06
    soldstatus $264,948
29. 2001-10-29
    soldstatus $57,500
30. 2001-10-17
    soldstatus $57,500
31. 2001-08-10
    historical
32. 2001-08-10
    price $72,500
33. 2000-09-10
    listed $57,500

ⓘ 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: $5,672 · $473/mo
• Projected year-2 tax: $5,672 · $473/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $33,911
• − Mortgage interest: −$17,365
• − Property taxes: −$5,672
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,713
• − Management: −$2,713
• − Depreciation: −$9,018
• Taxable loss: −$5,120
• Est. tax savings @ 24.0%: +$1,229
• After-tax cash flow: $1,288/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: Newburgh City School District
• NCES district ID: 3620700
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 48% ▲ 10.00%
• Median HH income: $56,387
• Composite: 35.46/100
• National rank: #4927
• State rank: #500 of 590 in NY

Livability — Newburgh

• Score: 62/100
• State rank: #878
• US rank: #17021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newburgh, NY
• County: Orange County · 267,004 people
• City population: 55,152
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 55,152
• Household income: $85,697
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2412.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 39% White 36% Black 20% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 18% · Canada, Dominican Republic
• Languages at home: 64% English-only · Spanish 30% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.93%
• Current HPI: 304.1046
• Rent YoY: ▲ 0.63%
• 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

+439.1% since first listed

17 events — show timeline

• 2026-04-10 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-02-18 Price Changed $310,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-08 Listed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-01-08 Listed $350,000 OneKey® MLS as Distributed by MLS Grid
• 2017-06-21 Sold (MLS) $38,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-01 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-05-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2017-04-13 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-03-23 Listed $39,600 OneKey® MLS as Distributed by MLS Grid
• 2006-04-06 Sold (Public Records) $264,948 Public Records
• 2001-10-29 Sold (Public Records) $57,500 Public Records
• 2001-10-17 Sold (MLS) $57,500 HGMLS
• 2001-08-10 Price Changed $72,500 HGMLS
• 2001-08-10 Delisted — HGMLS
• 2000-09-10 Listed $57,500 HGMLS

Property tax history

+10.6%/yr

Latest (2025): $5,672 · -1.0% YoY. Source: county tax records.