36 Prince St · Kingston, NY 12401

$399,000

4 bd · 3.0 ba · 2,450 sqft · MultiFamily public records · 184 Days on market

Built 1903 4,791 sqft lot Est $409k · at est.

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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 +8.6/15.0
• Rent growth +4.5/5.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Attention investors & first time home buyers! Rare opportunity to own this sturdy 3 family home located in Midtown Kingston. This much talked about area is drawing musicians, artists & craftspeople alike. The property is located doors from the Aaron Renzy Photography studio, which recently won a Friends of Historic Kingston Local History Award for it's dramatic transformation. With the same owner since 1968, this home has a proven income record. A new oil tank was installed in 2016 & new hot water heaters in 2017. The fully fenced yard and driveway make for simple parking. In addition to the 2 bedrooms, apartment #1 features a large bonus room. Apartments #2 & #3 are both open & inviting. Walking distance to restaurants, hospital, shops & public transportation. Also only minutes from the Kingston Waterfront & all that Uptown has to offer. For all appointments please click Showing Assist icon or call 845-340-1920. No showings on Sundays.

Key facts

• Off street parking
• Three unit building
• Unfinished basement

Tags

• THREE UNIT BUILDING
• QUIET NEIGHBORHOOD
• LARGE ATTIC
• UNFINISHED BASEMENT
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 1×1bd/1.0ba + 2×3bd/1.0ba units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $543/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $399k).
• Recommended offer: $351k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 3.0% in Kingston — 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 82/100 on livability (#74 in NY, #1,143 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime C-, schools D+.
• Kingston City School District (urban): math 44% / reading 59% proficiency, ranked #355 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.8%/yr); 225 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).
• At $6,267/mo this rent would consume 109% of the median local household income ($69k/yr) (locally 2045% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $112k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $208k; list at $399k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $351,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% 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 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.57% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.49%
• DSCR: 1.78
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $409,150
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Prince St	0.00mi	5/— (+1)	2,450 (0%)	0mo	$374,000	$153	95
12 Prince St	0.05mi	5/4.0 (+1)	2,669 (+9%)	1mo	$396,000	$148	73
9 Brewster St Unit 7-9	0.22mi	4/2.0	2,485 (+1%)	21mo	$360,000	$145	66
41 Hemlock Ave	0.36mi	4/3.0	2,360 (-4%)	17mo	$434,900	$184	63
212 Foxhall Ave	0.32mi	4/2.0	2,120 (-14%)	6mo	$355,000	$167	54
133-135 Downs St	0.54mi	4/2.0	2,214 (-10%)	5mo	$385,000	$174	51
46 E Saint James St	0.72mi	4/3.0	2,479 (+1%)	21mo	$390,000	$157	46
51 O'neil Street St	0.46mi	4/2.0	2,124 (-13%)	9mo	$389,000	$183	45
60 2nd Ave	0.73mi	5/— (+1)	2,428 (-1%)	22mo	$490,000	$202	42

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 · 7.81% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 1.64×
• Total profit: $71,321
• Equity at exit: $59,492

10-year hold

• IRR: 27.4%
• Equity multiple: 4.06×
• Total profit: $341,633
• Equity at exit: $34,498

Cash invested: $111,720 (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 12401

• Rents YoY: 7.8%
• Active inventory: 225
• Price-to-rent: 18.7×

Monthly cashflow live

• Estimated rent: $6,267 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$1,064 /mo · $12,763/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,316
• Net cashflow: $1,629

Break-even live

Break-even rent $4,205

Max offer price $399,000

Occupancy floor 69%

Sensitivity live

Price	-10% $1,855	-5% $1,742	+0% $1,629	+5% $1,516	+10% $1,403
Rent	-10% $1,134	-5% $1,381	+0% $1,629	+5% $1,876	+10% $2,124
Rate	-1.0pp $1,830	-0.5pp $1,730	base $1,629	+0.5pp $1,525	+1.0pp $1,420

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,776
▸ 2× units	3	1	$4,492
Total (3 units)			$6,267

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-02-06
   status Pending
2. 2025-12-30
   historical Active Under Contract
3. 2025-10-23
   price $399,000
4. 2025-08-05
   listed $405,000 Active
5. 2018-09-24
   soldstatus $208,000
6. 2018-09-17
   soldstatus $208,000 992-char remark

   Show marketing remark (992 chars)

   Attention investors & first time home buyers! Rare opportunity to own this sturdy 3 family home located in Midtown Kingston. This much talked about area is drawing musicians, artists & craftspeople alike. The property is located doors from the Aaron Renzy Photography studio, which recently won a Friends of Historic Kingston Local History Award for it's dramatic transformation. With the same owner since 1968, this home has a proven income record. A new oil tank was installed in 2016 & new hot water heaters in 2017. The fully fenced yard and driveway make for simple parking. In addition to the 2 bedrooms, apartment #1 features a large bonus room. Apartments #2 & #3 are both open & inviting. Walking distance to restaurants, hospital, shops & public transportation. Also only minutes from the Kingston Waterfront & all that Uptown has to offer. For all appointments please click Showing Assist icon or call 845-340-1920. No showings on Sundays.

7. 2018-04-04
   listed $229,000 992-char remark

   Show marketing remark (992 chars)

   Attention investors & first time home buyers! Rare opportunity to own this sturdy 3 family home located in Midtown Kingston. This much talked about area is drawing musicians, artists & craftspeople alike. The property is located doors from the Aaron Renzy Photography studio, which recently won a Friends of Historic Kingston Local History Award for it's dramatic transformation. With the same owner since 1968, this home has a proven income record. A new oil tank was installed in 2016 & new hot water heaters in 2017. The fully fenced yard and driveway make for simple parking. In addition to the 2 bedrooms, apartment #1 features a large bonus room. Apartments #2 & #3 are both open & inviting. Walking distance to restaurants, hospital, shops & public transportation. Also only minutes from the Kingston Waterfront & all that Uptown has to offer. For all appointments please click Showing Assist icon or call 845-340-1920. No showings on Sundays.

ⓘ 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: $12,763 · $1,064/mo
• Projected year-2 tax: $12,763 · $1,064/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 4/10 Moderate 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,204
• − Mortgage interest: −$22,350
• − Property taxes: −$12,763
• − Insurance: −$1,995
• − Repairs & maintenance: −$6,016
• − Management: −$6,016
• − Depreciation: −$11,607
• Taxable income: $14,456
• Est. tax owed @ 24.0%: −$3,469
• After-tax cash flow: $16,075/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: Kingston City School District
• NCES district ID: 3616290
• Math proficiency: 44% ▲ 1.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $52,586
• Composite: 44.22/100
• National rank: #2849
• State rank: #355 of 590 in NY

Livability — Kingston

• Score: 82/100
• State rank: #74
• US rank: #1143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kingston, NY
• County: Ulster County · 56,183 people
• City population: 35,136
• Metro: Kingston, NY
• Population (ZIP): 35,136
• Household income: $69,305
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 2045.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 14% Black 11% Two or more races 10% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -262.90%
• Current HPI: 369.1984
• Rent YoY: ▲ 7.81%
• Metro: Kingston, 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

+74.2% since first listed

7 events — show timeline

• 2026-02-06 Pending — HVCRMLS
• 2025-12-30 Contingent — HVCRMLS
• 2025-10-23 Price Changed $399,000 HVCRMLS
• 2025-08-05 Listed $405,000 HVCRMLS
• 2018-09-24 Sold (Public Records) $208,000 Public Records
• 2018-09-17 Sold (MLS) $208,000 HVCRMLS
• 2018-04-04 Listed $229,000 HVCRMLS

Property tax history

+6.7%/yr

Latest (2025): $12,763 · +11.3% YoY. Source: county tax records.