374 South St · Newburgh, NY 12550

$385,000

3 bd · 2.0 ba · 1,470 sqft · MultiFamily public records · 59 Days on market

Built 1950 0.43 ac lot $262/sqft · at area comps Est $370k · at est.

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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).

• Cash flow +15.5/30.0
• ARV discount +5.7/15.0
• 1% rule +5.2/10.0
• DSCR +4.8/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

PRICE REDUCED!!! Fully updated 3/4 bedroom 2 full bathroom brick cape cod style home. Move in ready with updated kitchen and bathrooms, gleaming hard wood floors, detached garage, .44 acre flat level yard, and basement that has worlds of potential! Basement ceilings span 17 feet with full walk out to the back yard and bar, perfect for a golf simulator setup!!! Originally zoned as a two family home, can be converted. Legal 3 bedroom lives like 4 bedroom. Large sized lot may be subdivided. Easy to show!

Key facts

• 0.43 acre lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $385k).
• Recommended offer: $373k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 4.4% in Newburgh — 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 62/100 on livability (#878 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+, cost of living B; Watch: employment D+, schools D, crime F.
• Newburgh City School District (suburban): math 33% / reading 48% proficiency, ranked #500 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 383 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• At $3,925/mo this rent would consume 55% of the median local household income ($86k/yr) (locally 2412% 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.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($373k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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 $236k; list at $385k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $373,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. 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?
8. 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.
9. 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.
10. 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: 1.02% ✓
• Cap rate: 6.77%
• Cash-on-cash: 1.71%
• DSCR: 1.08
• GRM: 8.2

CMA / ARV

• ARV (median comp): $370,286
• List price: $385,000
• Delta: 3.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 Lutheran St	0.54mi	3/2.0	1,666 (+13%)	3mo	$262,500	$158	50
32 Concord St	0.50mi	4/2.0 (+1)	1,530 (+4%)	20mo	$290,000	$190	48
34 S Miller St	0.68mi	3/2.0	1,480 (+1%)	24mo	$260,000	$176	47
374 1st St	0.32mi	4/2.0 (+1)	1,656 (+13%)	19mo	$270,000	$163	43
34 Concord St	0.49mi	4/2.0 (+1)	1,620 (+10%)	20mo	$270,000	$167	38

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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.40×
• Total profit: $-65,006
• Equity at exit: $57,405

10-year hold

• IRR: -15.5%
• Equity multiple: 0.23×
• Total profit: $-83,237
• Equity at exit: $33,288

Cash invested: $107,800 (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 12550

• Home prices YoY: -33.3%
• Rents YoY: 0.6%
• Active inventory: 383
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $3,925 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$768 /mo · $9,211/yr
• Insurance: −$160
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$824
• Net cashflow: $98

Break-even live

Break-even rent $3,801

Max offer price $385,000

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,924
Total (2 units)			$3,925

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
171 West St Newburgh, NY	3.0	1.5	1299	$2,800	$2.16	23d	1	0.33mi
457 1st St Newburgh, NY	3.0	1.0	1680	$2,950	$1.76	43d	1	0.39mi
268 Carpenter Ave Unit 1 Newburgh, NY	3.0	2.0	950	$2,600	$2.74	23d	1	0.39mi
9 Arlington Pl Newburgh, NY	3.0	1.0	950	$2,300	$2.42	13d	1	0.40mi
259 1st St Newburgh, NY	3.0	2.0	883	$2,000	$2.27	43d	1	0.49mi
160 N Miller St #1 Newburgh, NY	4.0	1.0	1600	$2,500	$1.56	43d	1	0.53mi
193 South St Unit 2 Newburgh, NY	3.0	1.5	1200	$2,415	$2.01	13d	1	0.53mi
20 Pierces Rd Unit 3 Newburgh, NY	2.0	1.5	1071	$1,900	$1.77	23d	1	0.60mi
52 S Miller St Newburgh, NY	3.0	1.0	889	$1,900	$2.14	43d	1	0.65mi
57 Lander St Unit B Newburgh, NY	2.0	1.5	1100	$1,900	$1.73	43d	1	0.71mi
51 Lander St Unit 1 Newburgh, NY	2.0	1.0	1000	$1,500	$1.50	23d	1	0.72mi
177 W Parmenter St Unit 1 Newburgh, NY	2.0	1.0	1100	$1,700	$1.55	23d	1	0.72mi
317 Grand St Unit 1-1 Newburgh, NY	2.0	2.0	1400	$2,200	$1.57	13d	1	0.77mi
276 Temple Hill Rd #2215 Newburgh, NY	2.0	1.0	1026	$2,100	$2.05	23d	1	0.77mi
42 Hasbrouck St Newburgh, NY	3.0	1.5	1008	$2,550	$2.53	43d	1	0.78mi
28 Hasbrouck St Newburgh, NY	3.0	1.5	1188	$2,700	$2.27	43d	1	0.80mi
167 Liberty St Newburgh, NY	2.0	1.0	900	$1,900	$2.11	43d	1	0.82mi
196 Carson Ave Newburgh, NY	2.0	1.0	1188	$2,200	$1.85	43d	1	0.97mi
4 Grand St Unit 3 Newburgh, NY	4.0	2.0	1560	$3,925	$2.52	23d	1	0.99mi
4 Grand St Unit 1 Newburgh, NY	2.0	1.0	900	$2,400	$2.67	23d	1	0.99mi
22 Benkard Ave Unit 1 Newburgh, NY	3.0	1.0	1075	$1,750	$1.63	43d	1	1.06mi
62 Poplar St Newburgh, NY	3.0	1.5	1272	$3,000	$2.36	23d	1	1.09mi
44 Johnes St Unit 108-J Newburgh, NY	2.0	1.0	909	$1,950	$2.15	13d	1	1.09mi
22 Overlook Pl Newburgh, NY	2.0	1.0	1013	$2,000	$1.97	21d	1	1.23mi
81 Liberty Street Washington Hts Unit 2 Newburgh, NY	3.0	1.0	1362	$2,950	$2.17	43d	1	1.32mi
33 Bay View Ter Unit 1 Newburgh, NY	2.0	1.0	950	$2,200	$2.32	13d	1	1.37mi

Listing history 14 events

1. 2026-04-29
   price $385,000 506-char remark

   Show marketing remark (506 chars)

   PRICE REDUCED!!! Fully updated 3/4 bedroom 2 full bathroom brick cape cod style home. Move in ready with updated kitchen and bathrooms, gleaming hard wood floors, detached garage, .44 acre flat level yard, and basement that has worlds of potential! Basement ceilings span 17 feet with full walk out to the back yard and bar, perfect for a golf simulator setup!!! Originally zoned as a two family home, can be converted. Legal 3 bedroom lives like 4 bedroom. Large sized lot may be subdivided. Easy to show!

2. 2026-03-31
   listed $399,900 Active 506-char remark

   Show marketing remark (506 chars)

   PRICE REDUCED!!! Fully updated 3/4 bedroom 2 full bathroom brick cape cod style home. Move in ready with updated kitchen and bathrooms, gleaming hard wood floors, detached garage, .44 acre flat level yard, and basement that has worlds of potential! Basement ceilings span 17 feet with full walk out to the back yard and bar, perfect for a golf simulator setup!!! Originally zoned as a two family home, can be converted. Legal 3 bedroom lives like 4 bedroom. Large sized lot may be subdivided. Easy to show!

3. 2026-03-19
   historical $399,900 506-char remark

   Show marketing remark (506 chars)

   PRICE REDUCED!!! Fully updated 3/4 bedroom 2 full bathroom brick cape cod style home. Move in ready with updated kitchen and bathrooms, gleaming hard wood floors, detached garage, .44 acre flat level yard, and basement that has worlds of potential! Basement ceilings span 17 feet with full walk out to the back yard and bar, perfect for a golf simulator setup!!! Originally zoned as a two family home, can be converted. Legal 3 bedroom lives like 4 bedroom. Large sized lot may be subdivided. Easy to show!

4. 2023-07-09
   historical
5. 2021-04-30
   soldstatus $236,000 532-char remark

   Show marketing remark (532 chars)

   Solid Brick Duplex in the Heart of Newburgh with over . 50 acre of land, 1 car detatched garage, rec room, full high ceiling basement, storage room, exsiting wood floors, separate entrances. Price reflects work needed to update the large kitchen/dining room on 1st floor + bathrooms . House needs some TLC. 2nd Floor needs a kitchen, it was removed at some point. This property is conveniently located close to I87, Route 9W, St Luke Hospital, Mount St Mary, The Waterfront with ecletic restaurants and shops and so much more. .. ..

6. 2021-04-30
   soldstatus $236,000 Closed

   Show marketing remark (532 chars)

   Solid Brick Duplex in the Heart of Newburgh with over . 50 acre of land, 1 car detatched garage, rec room, full high ceiling basement, storage room, exsiting wood floors, separate entrances. Price reflects work needed to update the large kitchen/dining room on 1st floor + bathrooms . House needs some TLC. 2nd Floor needs a kitchen, it was removed at some point. This property is conveniently located close to I87, Route 9W, St Luke Hospital, Mount St Mary, The Waterfront with ecletic restaurants and shops and so much more. .. ..

7. 2021-03-16
   status Pending
8. 2021-01-22
   listed $235,500 532-char remark

   Show marketing remark (532 chars)

   Solid Brick Duplex in the Heart of Newburgh with over . 50 acre of land, 1 car detatched garage, rec room, full high ceiling basement, storage room, exsiting wood floors, separate entrances. Price reflects work needed to update the large kitchen/dining room on 1st floor + bathrooms . House needs some TLC. 2nd Floor needs a kitchen, it was removed at some point. This property is conveniently located close to I87, Route 9W, St Luke Hospital, Mount St Mary, The Waterfront with ecletic restaurants and shops and so much more. .. ..

9. 2021-01-21
   listed $235,500 Active
10. 2002-11-13
    soldstatus $160,000
11. 2002-10-31
    soldstatus $159,900
12. 2002-09-06
    historical
13. 2002-06-24
    listed $159,900
14. 1988-03-18
    soldstatus $117,000

ⓘ 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: $9,211 · $768/mo
• Projected year-2 tax: $9,211 · $768/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 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% 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: $47,100
• − Mortgage interest: −$21,566
• − Property taxes: −$9,211
• − Insurance: −$2,592
• − Repairs & maintenance: −$3,768
• − Management: −$3,768
• − Depreciation: −$11,200
• Taxable loss: −$5,005
• Est. tax savings @ 24.0%: +$1,201
• After-tax cash flow: $2,380/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: Newburgh City School District
• NCES district ID: 3620700
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 48% ▲ 10.00%
• Median HH income: $56,387
• Composite: 35.46/100
• National rank: #4927
• State rank: #500 of 590 in NY

Livability — Newburgh

• Score: 62/100
• State rank: #878
• US rank: #17021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newburgh, NY
• County: Orange County · 267,004 people
• City population: 55,152
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 55,152
• Household income: $85,697
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2412.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 39% White 36% Black 20% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 18% · Canada, Dominican Republic
• Languages at home: 64% English-only · Spanish 30% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.93%
• Current HPI: 304.1046
• Rent YoY: ▲ 0.63%
• 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

+229.1% since first listed

14 events — show timeline

• 2026-04-29 Price Changed $385,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-31 Listed $399,900 OneKey® MLS as Distributed by MLS Grid
• 2026-03-19 Coming Soon $399,900 OneKey® MLS as Distributed by MLS Grid
• 2023-07-09 Rental Removed — ONEKEY
• 2021-04-30 Sold (MLS) $236,000 OneKey® MLS as Distributed by MLS Grid
• 2021-04-30 Sold (MLS) $236,000 HVCRMLS
• 2021-03-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2021-01-22 Listed $235,500 HVCRMLS
• 2021-01-21 Listed $235,500 OneKey® MLS as Distributed by MLS Grid
• 2002-11-13 Sold (Public Records) $160,000 Public Records
• 2002-10-31 Sold (MLS) $159,900 HGMLS
• 2002-09-06 Delisted — HGMLS
• 2002-06-24 Listed $159,900 HGMLS
• 1988-03-18 Sold (Public Records) $117,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $9,211 · -3.9% YoY. Source: county tax records.