45 Clinton Ave · Monticello, NY 12701

$575,000

6 bd · 4.0 ba · 2,756 sqft · MultiFamily public records · 87 Days on market

Built 1942 10,019 sqft lot $209/sqft · 13% above area Est $542k · 6% over

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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).

• Appreciation +10.0/10.0
• Cash flow +7.6/30.0
• ARV discount +4.8/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Welcome home to this fully renovated gem, perfectly situated in the heart of Monticello. This impressive multi-family property delivers modern finishes, generous living space, and strong income potential for investors or owner-occupants. The first-floor unit features an open layout with 3 bedrooms and 2 full baths, soaring ceilings, hardwood floors, and a designer kitchen with stainless steel appliances, granite countertops, dual sinks, and a center island, plus in-unit laundry. Unit 1 offers two separate entrances, including an additional entry that provides direct access to the spacious side yard. The upper unit offers 3–4 bedrooms with bonus space ideal for a home office, 2 full baths including an en-suite, a contemporary kitchen with granite counters, dual sinks, and a center island, in-unit laundry, and a private rear deck off the primary suite. High-end finishes continue throughout, along with attic storage and multiple mini-split systems serving both units. Outside, enjoy a newly paved driveway with parking for 4+ vehicles. A rare turnkey opportunity—schedule your private showing today!

Key facts

• 0.23 acre lot
• 4 parking spots
• Built 1942

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2-bath units multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $-680 ($-8k/yr) — negative. Per door: $-340/mo.
• To cash-flow at today's rent, offer at most $455k (20.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $414k (28.0% below list).
• Recommended offer: $414k (28.0% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.4% in Monticello — 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 61/100 on livability (#899 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: crime D, amenities F, commute F.
• Monticello Central School District (town): math 29% / reading 30% proficiency, ranked #577 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: George L Cooke School (592 students, 71% FRL); Robert J Kaiser Middle School (math 7% / reading 35%, grade F, #661 of 729 statewide, top 91%, 595 students, 66% FRL); Monticello High School (math 82% / reading 34%, grade C, #879 of 1,100 statewide, top 80%, 844 students, 63% FRL) — zoned schools average 67% FRL vs 50% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 188 active listings in the ZIP; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).
• At $4,140/mo this rent would consume 87% of the median local household income ($57k/yr) (locally 814% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $61k of equity ($4k loan paydown + $58k appreciation (10.0% local appreciation)).
• Sullivan County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$99k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($540k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $32k; list at $575k implies a 1669% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $414,000 (28.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-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. Crime grade is D 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.72% ✗
• Cap rate: 4.87%
• Cash-on-cash: -5.07%
• DSCR: 0.77
• GRM: 11.6

CMA / ARV

• ARV (median comp): $542,063
• List price: $575,000
• Delta: 6.08%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
55 High St	0.65mi	5/4.0 (-1)	2,687 (-2%)	8mo	$360,000	$134	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 2.68×
• Total profit: $269,892
• Equity at exit: $518,006

10-year hold

• IRR: 18.8%
• Equity multiple: 6.15×
• Total profit: $828,947
• Equity at exit: $1,117,099

Cash invested: $161,000 (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 12701

• Home prices YoY: 16.7%
• Active inventory: 188
• Price-to-rent: 23.1×

Monthly cashflow live

• Estimated rent: $4,140 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$696 /mo · $8,349/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$869
• Net cashflow: $-680

Break-even live

Break-even rent $5,001

Max offer price $454,854

Occupancy floor —

Sensitivity live

Price	-10% $-355	-5% $-517	+0% $-680	+5% $-843	+10% $-1,006
Rent	-10% $-1,007	-5% $-844	+0% $-680	+5% $-517	+10% $-353
Rate	-1.0pp $-391	-0.5pp $-534	base $-680	+0.5pp $-829	+1.0pp $-981

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,140
Total (2 units)			$4,140

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-16
   days on market $575,000 Active 87 DOM
2. 2026-06-15
   days on market $575,000 Active 86 DOM
3. 2026-06-14
   days on market $575,000 Active 84 DOM
4. 2026-06-10
   days on market $575,000 Active 81 DOM
5. 2026-06-09
   days on market $575,000 Active 80 DOM
6. 2026-06-08
   days on market $575,000 Active 79 DOM
7. 2026-06-07
   days on market $575,000 Active 78 DOM
8. 2026-06-03
   days on market $575,000 Active 74 DOM
9. 2026-06-02
   days on market $575,000 Active 73 DOM
10. 2026-06-01
    days on market $575,000 Active 72 DOM
11. 2026-05-31
    days on market $575,000 Active 71 DOM
12. 2026-05-31
    days on market $575,000 Active 70 DOM
13. 2026-03-22
    listed $575,000 Active 1122-char remark

    Show marketing remark (1122 chars)

    Welcome home to this fully renovated gem, perfectly situated in the heart of Monticello. This impressive multi-family property delivers modern finishes, generous living space, and strong income potential for investors or owner-occupants. The first-floor unit features an open layout with 3 bedrooms and 2 full baths, soaring ceilings, hardwood floors, and a designer kitchen with stainless steel appliances, granite countertops, dual sinks, and a center island, plus in-unit laundry. Unit 1 offers two separate entrances, including an additional entry that provides direct access to the spacious side yard. The upper unit offers 3–4 bedrooms with bonus space ideal for a home office, 2 full baths including an en-suite, a contemporary kitchen with granite counters, dual sinks, and a center island, in-unit laundry, and a private rear deck off the primary suite. High-end finishes continue throughout, along with attic storage and multiple mini-split systems serving both units. Outside, enjoy a newly paved driveway with parking for 4+ vehicles. A rare turnkey opportunity—schedule your private showing today!

14. 2026-03-16
    historical $575,000 1122-char remark

    Show marketing remark (1122 chars)

    Welcome home to this fully renovated gem, perfectly situated in the heart of Monticello. This impressive multi-family property delivers modern finishes, generous living space, and strong income potential for investors or owner-occupants. The first-floor unit features an open layout with 3 bedrooms and 2 full baths, soaring ceilings, hardwood floors, and a designer kitchen with stainless steel appliances, granite countertops, dual sinks, and a center island, plus in-unit laundry. Unit 1 offers two separate entrances, including an additional entry that provides direct access to the spacious side yard. The upper unit offers 3–4 bedrooms with bonus space ideal for a home office, 2 full baths including an en-suite, a contemporary kitchen with granite counters, dual sinks, and a center island, in-unit laundry, and a private rear deck off the primary suite. High-end finishes continue throughout, along with attic storage and multiple mini-split systems serving both units. Outside, enjoy a newly paved driveway with parking for 4+ vehicles. A rare turnkey opportunity—schedule your private showing today!

15. 2025-07-24
    historical
16. 2025-07-10
    price $592,999
17. 2025-05-07
    listed $599,999 Active
18. 2022-03-09
    historical
19. 2022-01-28
    price $150,500
20. 2021-12-01
    price $119,950
21. 2021-09-09
    listed $99,950 Active
22. 2017-08-29
    soldstatus $32,500
23. 2006-05-22
    soldstatus $240,625
24. 1989-01-27
    soldstatus $80,000

ⓘ 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: $8,349 · $696/mo
• Projected year-2 tax: $9,033 · $753/mo
• Expected delta: +$684/yr (+$57/mo · 8.2%)

ⓘ 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 2/10 Low 7 d/yr ≥92°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $49,680
• − Mortgage interest: −$32,209
• − Property taxes: −$8,349
• − Insurance: −$2,875
• − Repairs & maintenance: −$3,974
• − Management: −$3,974
• − Depreciation: −$16,727
• Taxable loss: −$18,429
• Est. tax savings @ 24.0%: +$4,423
• After-tax cash flow: $-3,738/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: Monticello Central School District
• NCES district ID: 3619740
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 30% ▼ -2.00%
• Median HH income: $44,696
• Composite: 25.28/100
• National rank: #7491
• State rank: #577 of 590 in NY

Livability — Monticello

• Score: 61/100
• State rank: #899
• US rank: #17510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monticello, NY
• County: Sullivan County · 12,197 people
• City population: 12,197
• Metro: nan
• Population (ZIP): 12,197
• Household income: $57,222
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 814.0

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 68,974 people
• By 2030: 65,609 · -4.9%
• By 2040: 58,878 · -14.6%
• By 2050: 52,500 · -23.9%
• By 2075: 39,941 · -42.1%
• By 2100: 28,880 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 43% Hispanic / Latino 31% Black 15% Two or more races 15% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 19% Dominican 3%
• Common ancestry: Scotch-Irish 3% Romanian 2% Iranian 1%
• Foreign-born: 15% · Canada, China, Jamaica
• Languages at home: 71% English-only · Spanish 20% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Sullivan

• 2024 margin: R (+16.7) · D 41.6% · R 58.4%
• 2008→2024 swing: -26.2pp toward R · 2008: 9.5pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+9.2 2016: R+13.7 2012: D+10.4 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 72.71%
• Current HPI: 507.739
• Rent YoY: —
• Metro: nan
• 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

+618.8% since first listed

12 events — show timeline

• 2026-03-22 Listed $575,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-16 Coming Soon $575,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-10 Price Changed $592,999 OneKey® MLS as Distributed by MLS Grid
• 2025-05-07 Listed $599,999 OneKey® MLS as Distributed by MLS Grid
• 2022-03-09 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-01-28 Price Changed $150,500 OneKey® MLS as Distributed by MLS Grid
• 2021-12-01 Price Changed $119,950 OneKey® MLS as Distributed by MLS Grid
• 2021-09-09 Listed $99,950 OneKey® MLS as Distributed by MLS Grid
• 2017-08-29 Sold (Public Records) $32,500 Public Records
• 2006-05-22 Sold (Public Records) $240,625 Public Records
• 1989-01-27 Sold (Public Records) $80,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $8,349 · +242.9% YoY. Source: county tax records.