7 Brodie Rd #14 · Chelsea Cove, NY 12533

$47,500

1 bd · 1.0 ba · 420 sqft · Condo · 5 Days on market

Built 1950 Good condition $264/mo HOA

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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
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

SEASONAL RENTAL. May 1 to October 1. NO RENTING. Pleasant View Acres private coop community with private fishing lake on over 15 acres. Classic lakeside escape. Whether you're looking for quiet weekend getaways or a full summer retreat, this turnkey home is ready for you to enjoy. 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 fees conveniently include electric, water, trash, common area grounds and plumbing to open and close units. May 1 thru October 1, allowing for an extended season of enjoyment. Please note: this property is

Key facts

• $264 HOA
• Built 1950
• Listed 5 days

Property features AI

Finance

• HOA & community: Has association: Pleasant View Bungalow Corp; Monthly association fee; Association amenities include clubhouse, grounds maintenance, and trash service; Association fee covers common area maintenance, electricity, grounds care, sewer, trash, and water

Exterior

• Parking: On-street parking; No carport
• Utilities: Electricity connected (NYSEG); Propane available; Shared septic; See remarks for additional utility details
• Home design: Stock cooperative; One story; Ground-floor location
• Construction: Frame construction
• Exterior features: Level, private lot; Shed(s) on the property; Not waterfront

Interior

• Kitchen: Electric oven; Gas range; Microwave; Refrigerator
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bath; 4 total rooms; No basement; No attic; One-level living; Entry on level 1; Pets allowed
• Laundry & utility: Shared/common area laundry

🏢 Co-op / cooperative unit. The $47,500 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 $48k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Cap rate 23.6% 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.
• 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 $328 of loan paydown is wiped out by about $1k 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 $13k 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.

Risks & watch-outs

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

Recommended offer $47,500

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: 3.41% ✓
• Cap rate: 23.62%
• Cash-on-cash: 61.88%
• DSCR: 3.75
• GRM: 2.4

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: 60.9%
• Equity multiple: 3.72×
• Total profit: $36,170
• Equity at exit: $7,082

10-year hold

• IRR: 65.6%
• Equity multiple: 7.65×
• Total profit: $88,500
• Equity at exit: $4,107

Cash invested: $13,300 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,618 medium
• Mortgage (P&I): −$249
• Tax est. 1.5%: −$59 /mo · $712/yr
• Insurance: −$20
• HOA: −$264
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $686

Break-even live

Break-even rent $750

Max offer price $47,500

Occupancy floor 53%

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 6 events

1. 2026-06-18
   days on market $47,500 Active 5 DOM
2. 2026-06-17
   days on market $47,500 Active 4 DOM
3. 2026-06-16
   days on market $47,500 Active 3 DOM
4. 2026-06-15
   days on market $47,500 Active 2 DOM
5. 2026-06-14
   remarks 699-char remark
6. 2026-06-14
   listed $47,500 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: $19,414
• − Mortgage interest: −$2,661
• − Property taxes: −$712
• − Insurance: −$238
• − Repairs & maintenance: −$1,553
• − Management: −$1,553
• − HOA: −$3,168
• − Depreciation: −$1,382
• Taxable income: $8,147
• Est. tax owed @ 24.0%: −$1,955
• After-tax cash flow: $6,275/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

Good 75/100 Cosmetic rehab

This turnkey townhouse in a private coop community is in good condition with minimal repairs needed. It offers a pleasant lakeside escape with a well-maintained exterior and interior. The property is ready for immediate enjoyment and can be easily enhanced with a fresh coat of paint and a new ceiling fan.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value
• Both Replace the ceiling fan in the sunroom — Improves comfort and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Both Replace the ceiling fan in the sunroom — Improves comfort and aesthetics ↑

ⓘ 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: 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

1 event — show timeline

• 2026-06-12 Listed $47,500 OneKey® MLS as Distributed by MLS Grid