40 Cathy Jo Pl · Kerhonkson, NY 12404

$399,999

3 bd · 1.5 ba · 1,452 sqft · SingleFamily public records · 16 Days on market

Built 1990 0.37 ac lot $275/sqft · 21% below area Est $505k · 21% 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 +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.5/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your Hudson Valley retreat awaits at 40 Cathy Jo Place--an inviting raised ranch set in a peaceful neighborhood in the heart of Accord, offering the perfect blend of comfort, style, and charm. This well-maintained home features 3 spacious bedrooms and 2 full bathrooms, thoughtfully designed for both everyday living and entertaining. The bright, sun-filled main level showcases an updated kitchen complete with beautiful countertops and elegant lighting, seamlessly flowing into the living and dining areas to create a warm, welcoming atmosphere. On the lower level, a generously sized family room offers versatile space, ideal for a media room, home office, or guest suite providing flexibility to suit your lifestyle. Step outside to a large rear deck overlooking the backyard and pool, perfect for hosting gatherings or simply unwinding during the warmer months. Additional features include on-demand hot water and the convenience of community water service. Located just minutes from Kerhonkson, local shops, dining, and outdoor recreation, this property offers a rare opportunity to enjoy tranquil living without sacrificing convenience.

Key facts

• 0.37 acre lot
• 2 garage spots
• Pool

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/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 $380k (4.9% below list).
• Recommended offer: $380k (4.9% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.4% in Kerhonkson — 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 68/100 on livability (#552 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-; Watch: amenities F, health & safety D-.
• Rondout Valley Central School District (rural): math 39% / reading 51% proficiency, ranked #447 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kerhonkson Elementary School (math 15% / reading 54%, grade F, #1,574 of 2,108 statewide, top 75%, 209 students, 54% FRL); Rondout Valley Junior High School (math 27% / reading 42%, grade F, #483 of 729 statewide, top 68%, 243 students, 42% FRL); Rondout Valley High School (math 87% / reading 64%, grade A-, #623 of 1,100 statewide, top 57%, 569 students, 41% FRL).
• Market conditions: 41 active listings in the ZIP; 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 16 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 $180k; list at $400k implies a 122% gain — meaningful room to come down on a strong offer.

Recommended offer $380,360 (4.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.94%
• DSCR: 1.18
• GRM: 8.8

CMA / ARV

• ARV (median comp): $504,924
• List price: $399,999
• Delta: -20.78%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Rock Mountain Ests	0.49mi	3/2.0	1,600 (+10%)	21mo	$520,000	$325	40

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: -10.1%
• Equity multiple: 0.63×
• Total profit: $-41,399
• Equity at exit: $59,641

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-5,954
• 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 12404

• Home prices YoY: -11.9%
• Active inventory: 41
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,804 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$373 /mo · $4,470/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$799
• Net cashflow: $368

Break-even live

Break-even rent $3,338

Max offer price $399,999

Occupancy floor 85%

Sensitivity live

Price	-10% $594	-5% $481	+0% $368	+5% $255	+10% $142
Rent	-10% $68	-5% $218	+0% $368	+5% $518	+10% $668
Rate	-1.0pp $569	-0.5pp $470	base $368	+0.5pp $264	+1.0pp $159

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: —

Listing history 15 events

1. 2026-05-08
   status Pending 1144-char remark

   Show marketing remark (1143 chars)

   Your Hudson Valley retreat awaits at 40 Cathy Jo Place--an inviting raised ranch set in a peaceful neighborhood in the heart of Accord, offering the perfect blend of comfort, style, and charm. This well-maintained home features 3 spacious bedrooms and 2 full bathrooms, thoughtfully designed for both everyday living and entertaining. The bright, sun-filled main level showcases an updated kitchen complete with beautiful countertops and elegant lighting, seamlessly flowing into the living and dining areas to create a warm, welcoming atmosphere. On the lower level, a generously sized family room offers versatile space, ideal for a media room, home office, or guest suite providing flexibility to suit your lifestyle. Step outside to a large rear deck overlooking the backyard and pool, perfect for hosting gatherings or simply unwinding during the warmer months. Additional features include on-demand hot water and the convenience of community water service. Located just minutes from Kerhonkson, local shops, dining, and outdoor recreation, this property offers a rare opportunity to enjoy tranquil living without sacrificing convenience.

2. 2026-05-08
   status Pending 1143-char remark

   Show marketing remark (1143 chars)

   Your Hudson Valley retreat awaits at 40 Cathy Jo Place--an inviting raised ranch set in a peaceful neighborhood in the heart of Accord, offering the perfect blend of comfort, style, and charm. This well-maintained home features 3 spacious bedrooms and 2 full bathrooms, thoughtfully designed for both everyday living and entertaining. The bright, sun-filled main level showcases an updated kitchen complete with beautiful countertops and elegant lighting, seamlessly flowing into the living and dining areas to create a warm, welcoming atmosphere. On the lower level, a generously sized family room offers versatile space, ideal for a media room, home office, or guest suite providing flexibility to suit your lifestyle. Step outside to a large rear deck overlooking the backyard and pool, perfect for hosting gatherings or simply unwinding during the warmer months. Additional features include on-demand hot water and the convenience of community water service. Located just minutes from Kerhonkson, local shops, dining, and outdoor recreation, this property offers a rare opportunity to enjoy tranquil living without sacrificing convenience.

3. 2026-04-29
   historical Active Under Contract 1144-char remark

   Show marketing remark (1144 chars)

   Your Hudson Valley retreat awaits at 40 Cathy Jo Place--an inviting raised ranch set in a peaceful neighborhood in the heart of Accord, offering the perfect blend of comfort, style, and charm. This well-maintained home features 3 spacious bedrooms and 2 full bathrooms, thoughtfully designed for both everyday living and entertaining. The bright, sun-filled main level showcases an updated kitchen complete with beautiful countertops and elegant lighting, seamlessly flowing into the living and dining areas to create a warm, welcoming atmosphere. On the lower level, a generously sized family room offers versatile space, ideal for a media room, home office, or guest suite providing flexibility to suit your lifestyle. Step outside to a large rear deck overlooking the backyard and pool, perfect for hosting gatherings or simply unwinding during the warmer months. Additional features include on-demand hot water and the convenience of community water service. Located just minutes from Kerhonkson, local shops, dining, and outdoor recreation, this property offers a rare opportunity to enjoy tranquil living without sacrificing convenience.

4. 2026-04-23
   listed $399,999 Active 1144-char remark

   Show marketing remark (1143 chars)

   Your Hudson Valley retreat awaits at 40 Cathy Jo Place--an inviting raised ranch set in a peaceful neighborhood in the heart of Accord, offering the perfect blend of comfort, style, and charm. This well-maintained home features 3 spacious bedrooms and 2 full bathrooms, thoughtfully designed for both everyday living and entertaining. The bright, sun-filled main level showcases an updated kitchen complete with beautiful countertops and elegant lighting, seamlessly flowing into the living and dining areas to create a warm, welcoming atmosphere. On the lower level, a generously sized family room offers versatile space, ideal for a media room, home office, or guest suite providing flexibility to suit your lifestyle. Step outside to a large rear deck overlooking the backyard and pool, perfect for hosting gatherings or simply unwinding during the warmer months. Additional features include on-demand hot water and the convenience of community water service. Located just minutes from Kerhonkson, local shops, dining, and outdoor recreation, this property offers a rare opportunity to enjoy tranquil living without sacrificing convenience.

5. 2026-04-23
   listed $399,999 Active 1143-char remark

   Show marketing remark (1143 chars)

   Your Hudson Valley retreat awaits at 40 Cathy Jo Place--an inviting raised ranch set in a peaceful neighborhood in the heart of Accord, offering the perfect blend of comfort, style, and charm. This well-maintained home features 3 spacious bedrooms and 2 full bathrooms, thoughtfully designed for both everyday living and entertaining. The bright, sun-filled main level showcases an updated kitchen complete with beautiful countertops and elegant lighting, seamlessly flowing into the living and dining areas to create a warm, welcoming atmosphere. On the lower level, a generously sized family room offers versatile space, ideal for a media room, home office, or guest suite providing flexibility to suit your lifestyle. Step outside to a large rear deck overlooking the backyard and pool, perfect for hosting gatherings or simply unwinding during the warmer months. Additional features include on-demand hot water and the convenience of community water service. Located just minutes from Kerhonkson, local shops, dining, and outdoor recreation, this property offers a rare opportunity to enjoy tranquil living without sacrificing convenience.

6. 2026-04-20
   historical $399,999 1144-char remark

   Show marketing remark (1143 chars)

   Your Hudson Valley retreat awaits at 40 Cathy Jo Place--an inviting raised ranch set in a peaceful neighborhood in the heart of Accord, offering the perfect blend of comfort, style, and charm. This well-maintained home features 3 spacious bedrooms and 2 full bathrooms, thoughtfully designed for both everyday living and entertaining. The bright, sun-filled main level showcases an updated kitchen complete with beautiful countertops and elegant lighting, seamlessly flowing into the living and dining areas to create a warm, welcoming atmosphere. On the lower level, a generously sized family room offers versatile space, ideal for a media room, home office, or guest suite providing flexibility to suit your lifestyle. Step outside to a large rear deck overlooking the backyard and pool, perfect for hosting gatherings or simply unwinding during the warmer months. Additional features include on-demand hot water and the convenience of community water service. Located just minutes from Kerhonkson, local shops, dining, and outdoor recreation, this property offers a rare opportunity to enjoy tranquil living without sacrificing convenience.

7. 2026-04-20
   historical $399,999 1143-char remark

   Show marketing remark (1143 chars)

   Your Hudson Valley retreat awaits at 40 Cathy Jo Place--an inviting raised ranch set in a peaceful neighborhood in the heart of Accord, offering the perfect blend of comfort, style, and charm. This well-maintained home features 3 spacious bedrooms and 2 full bathrooms, thoughtfully designed for both everyday living and entertaining. The bright, sun-filled main level showcases an updated kitchen complete with beautiful countertops and elegant lighting, seamlessly flowing into the living and dining areas to create a warm, welcoming atmosphere. On the lower level, a generously sized family room offers versatile space, ideal for a media room, home office, or guest suite providing flexibility to suit your lifestyle. Step outside to a large rear deck overlooking the backyard and pool, perfect for hosting gatherings or simply unwinding during the warmer months. Additional features include on-demand hot water and the convenience of community water service. Located just minutes from Kerhonkson, local shops, dining, and outdoor recreation, this property offers a rare opportunity to enjoy tranquil living without sacrificing convenience.

8. 2019-09-09
   soldstatus $180,000
9. 2012-03-21
   soldstatus $130,000
10. 2012-03-12
    soldstatus $130,000
11. 2011-11-16
    listed $134,900
12. 2009-02-10
    soldstatus $65,000
13. 2008-12-29
    listed $80,700
14. 1989-01-06
    soldstatus $98,750
15. 1987-05-01
    soldstatus $58,500

ⓘ 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: $4,470 · $373/mo
• Projected year-2 tax: $5,615 · $468/mo
• Expected delta: +$1,145/yr (+$95/mo · 25.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $45,643
• − Mortgage interest: −$22,406
• − Property taxes: −$4,470
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,651
• − Management: −$3,651
• − Depreciation: −$11,636
• Taxable loss: −$2,173
• Est. tax savings @ 24.0%: +$521
• After-tax cash flow: $4,938/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: Rondout Valley Central School District
• NCES district ID: 3624960
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 51% ▲ 5.00%
• Median HH income: $59,408
• Composite: 39.5/100
• National rank: #3949
• State rank: #447 of 590 in NY

Livability — Kerhonkson

• Score: 68/100
• State rank: #552
• US rank: #9921

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,232
• Population (ZIP): 4,046

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 (82%)
• Race & ethnicity: White 82% Two or more races 11% Hispanic / Latino 8%
• Hispanic origin (detail): Puerto Rican 5% Cuban 3%
• Common ancestry: Iranian 4% Lithuanian 3% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 4% Arabic 1% German/W. Germanic 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: ▼ -46.90%
• Current HPI: 345.6723
• 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

+583.8% since first listed

15 events — show timeline

• 2026-05-08 Pending — HVCRMLS
• 2026-05-08 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-29 Contingent — HVCRMLS
• 2026-04-23 Listed $399,999 HVCRMLS
• 2026-04-23 Listed $399,999 OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Coming Soon $399,999 HVCRMLS
• 2026-04-20 Coming Soon $399,999 OneKey® MLS as Distributed by MLS Grid
• 2019-09-09 Sold (Public Records) $180,000 Public Records
• 2012-03-21 Sold (Public Records) $130,000 Public Records
• 2012-03-12 Sold (MLS) $130,000 HVCRMLS
• 2011-11-16 Listed $134,900 HVCRMLS
• 2009-02-10 Sold (MLS) $65,000 HVCRMLS
• 2008-12-29 Listed $80,700 HVCRMLS
• 1989-01-06 Sold (Public Records) $98,750 Public Records
• 1987-05-01 Sold (Public Records) $58,500 Public Records

Property tax history

-0.8%/yr

Latest (2025): $4,470 · +3.1% YoY. Source: county tax records.