41 Gifford Ave · Poughkeepsie, NY 12601

$295,000

4 bd · 3.0 ba · 1,776 sqft · MultiFamily public records · 10 Days on market

Built 1890 3,049 sqft lot Est $391k · 24% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• 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

A/O as of 6/4 Opportunity awaits with this solid brick 3-family property in the City of Poughkeepsie. Featuring three separate units, this income-producing property offers excellent potential for investors or owner-occupants looking to build equity. The building retains its classic brick exterior and strong presence while offering the chance to add value through updates and improvements. Property needs some TLC and is being sold as-is. Conveniently located near schools, shopping, restaurants, public transportation, and major commuter routes. Whether you're looking to renovate and hold for cash flow or restore to its full potential, this is an opportunity you won't want to miss.

Key facts

• Brick exterior
• Three separate units
• 3,049 sq ft lot

Tags

• BRICK EXTERIOR
• THREE SEPARATE UNITS
• INCOME PRODUCING PROPERTY

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Natural gas available
• Home design: Triplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Other heating; No air conditioning
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $708/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $295k).
• Cap rate 14.9% vs local median 3.4% in Poughkeepsie — 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 78/100 on livability (#165 in NY, #2,577 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: employment D+, crime F.
• Poughkeepsie City School District (suburban): math 29% / reading 42% proficiency, ranked #559 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Morse Young Magnet School (math 12% / reading 17%, grade F, #2,041 of 2,108 statewide, top 97%, 495 students, 0% FRL); Poughkeepsie Middle School (math 8% / reading 37%, grade F, #650 of 729 statewide, top 90%, 877 students, 82% FRL); Poughkeepsie High School (math 59% / reading 67%, grade B-, #819 of 1,100 statewide, top 74%, 1,165 students, 74% FRL) — zoned schools average 52% FRL vs 73% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.7%/yr); 189 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $5,814/mo this rent would consume 110% of the median local household income ($64k/yr) (locally 2891% 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 $2k of loan paydown is wiped out by about $9k 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 + 3.7% rent growth), your $83k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $295,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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.
8. 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.
9. 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: 1.97% ✓
• Cap rate: 14.93%
• Cash-on-cash: 30.86%
• DSCR: 2.37
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $390,720
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
49 Delafield St	0.19mi	3/2.0 (-1)	1,784 (+0%)	11mo	$350,000	$196	73
119 N Hamilton St	0.58mi	4/2.0	1,840 (+4%)	24mo	$405,000	$220	43

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 2.11×
• Total profit: $91,780
• Equity at exit: $43,985

10-year hold

• IRR: 34.6%
• Equity multiple: 4.29×
• Total profit: $271,964
• Equity at exit: $25,506

Cash invested: $82,600 (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 12601

• Rents YoY: 3.7%
• Active inventory: 189
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $5,814 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$799 /mo · $9,588/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,221
• Net cashflow: $2,124

Break-even live

Break-even rent $3,125

Max offer price $295,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,814
Total (3 units)			$5,814

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61 Delafield St Unit 2 Poughkeepsie, NY	3.0	1.0	1400	$2,600	$1.86	13d	1	0.19mi
32 Balding Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1226	$2,500	$2.04	43d	1	0.31mi
50 Parker Ave Unit 3 Poughkeepsie, NY	3.0	1.0	1300	$2,100	$1.62	43d	1	0.32mi
50 Parker Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1300	$2,150	$1.65	23d	1	0.32mi
6mt Carmel PL Unit 2 Poughkeepsie, NY	3.0	1.0	1250	$2,500	$2.00	23d	1	0.36mi
43 High St Unit 1 Poughkeepsie, NY	4.0	1.0	1250	$2,300	$1.84	23d	1	0.54mi
156 N Clinton St Apt 2 Poughkeepsie, NY	3.0	1.0	1300	$1,800	$1.38	23d	1	0.68mi
2 Park Pl Unit 2 Poughkeepsie, NY	3.0	1.0	1380	$1,900	$1.38	23d	1	0.72mi
236 Mansion St #2 Poughkeepsie, NY	3.0	1.0	2076	$2,600	$1.25	43d	1	0.78mi
36 Pine St Unit Three Bedroom Waitlist Poughkeepsie, NY	3.0	2.0	1299	$3,300	$2.54	43d	1	0.82mi
1 Dean Pl Poughkeepsie, NY	3.0	2.5	1700	$4,000	$2.35	14d	1	1.03mi
197 Winnikee Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1344	$2,600	$1.93	43d	1	1.05mi
15 Forbus St Poughkeepsie, NY	3.0	1.0	2140	$2,500	$1.17	23d	1	1.12mi
8 Fox Ter Unit 1 Poughkeepsie, NY	3.0	1.0	1450	$2,200	$1.52	43d	1	1.17mi
32 Salt Point Tpke Poughkeepsie, NY	3.0	2.5	1761	$3,000	$1.70	21d	1	1.39mi
37 Roosevelt Ave Unit 1 Poughkeepsie, NY	3.0	1.0	1250	$2,000	$1.60	21d	1	1.40mi
18 Innis Ave Unit 1 Poughkeepsie, NY	3.0	1.0	1344	$2,500	$1.86	23d	1	1.45mi

Listing history 11 events

1. 2026-06-14
   status $295,000 Pending 10 DOM
2. 2026-06-10
   days on market $295,000 Active 10 DOM
3. 2026-06-09
   days on market $295,000 Active 9 DOM
4. 2026-06-08
   days on market $295,000 Active 8 DOM
5. 2026-06-07
   remarks 687-char remark
6. 2026-06-07
   days on market $295,000 Active 7 DOM
7. 2026-06-05
   days on market $295,000 Active 4 DOM
8. 2026-06-03
   days on market $295,000 Active 3 DOM
9. 2026-06-02
   days on market $295,000 Active 2 DOM
10. 2026-06-01
    remarks 672-char remark
11. 2026-06-01
    listed $295,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $9,588 · $799/mo
• Projected year-2 tax: $9,588 · $799/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 6/10 Major FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,768
• − Mortgage interest: −$16,525
• − Property taxes: −$9,588
• − Insurance: −$1,475
• − Repairs & maintenance: −$5,581
• − Management: −$5,581
• − Depreciation: −$8,582
• Taxable income: $22,435
• Est. tax owed @ 24.0%: −$5,384
• After-tax cash flow: $20,105/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: Poughkeepsie City School District
• NCES district ID: 3623760
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 42% ▲ 12.00%
• Median HH income: $39,159
• Composite: 29.68/100
• National rank: #6459
• State rank: #559 of 590 in NY

Livability — Poughkeepsie

• Score: 78/100
• State rank: #165
• US rank: #2577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poughkeepsie, NY
• County: Dutchess County · 188,048 people
• City population: 86,468
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 44,164
• Household income: $63,652
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 2891.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 17% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 79% English-only · Spanish 15% Other Indo-European 1% Chinese 1%

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: ▼ -210.62%
• Current HPI: 293.9789
• Rent YoY: ▲ 3.67%
• 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

• 2026-05-28 Listed $295,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $9,588 · +54.4% YoY. Source: county tax records.