539 State St · Hudson, NY 12534

$550,000

4 bd · 2.0 ba · 1,920 sqft · MultiFamily public records · 13 Days on market

Built 1890 3,485 ac lot Est $397k · 38% over

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Why this score? — see what drove the C- 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 +17.1/30.0
• Appreciation +10.0/10.0
• DSCR +5.3/10.0
• Rent growth +5.0/5.0
• 1% rule +4.5/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

Whether you are an investor looking for a high-yield asset or a buyer seeking the ultimate ''house-hack'' in the Hudson Valley, a duplex on State Street offers a premier opportunity in one of New York's most sought-after river towns. This recently renovated, two unit building has two bedroom one bathroom apartments with porches, a rear garden and an off street, one car alley garage that is 440 square feet and can be used as studio if not your car. State Street is the quiet, residential backbone of Hudson, sitting just two blocks parallel to the locally-famous Warren Street. This location provides the perfect balance: the tranquility of a historic neighborhood with immediate, ''no-car-needed

Key facts

• Rear garden
• Off street garage
• Recently renovated

Tags

• DUPLEX ON STATE STREET
• RECENTLY RENOVATED
• REAR GARDEN
• OFF STREET GARAGE
• HISTORIC NEIGHBORHOOD
• SEPARATE METERS AND ENTRANCES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive. Per door: $189/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $522k (5.1% below list).
• Recommended offer: $522k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.3% in Hudson — 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 70/100 on livability (#430 in NY) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+; Watch: schools C-, commute F, employment F.
• Hudson City School District (town): math 38% / reading 47% proficiency, ranked #494 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.9%/yr); 161 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• At $5,220/mo this rent would consume 86% of the median local household income ($73k/yr) (locally 1083% 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 $59k of equity ($4k loan paydown + $55k appreciation (10.0% local appreciation)).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $154k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$95k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $250k; list at $550k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $522,000 (5.1% below list)

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. 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: 0.95% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $397,440
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
534 Washington St	0.14mi	4/2.0	1,990 (+4%)	14mo	$469,000	$236	75
5 Worth Ave	0.38mi	4/—	1,888 (-2%)	15mo	$300,000	$159	68
19 8th St	0.25mi	3/2.0 (-1)	2,058 (+7%)	4mo	$799,000	$388	67
316 State St	0.39mi	4/—	2,112 (+10%)	6mo	$425,000	$201	60
309 - 311 Union St	0.43mi	4/—	2,088 (+9%)	18mo	$380,000	$182	50
28 Glenwood Blvd	0.63mi	3/3.0 (-1)	1,852 (-4%)	19mo	$382,500	$207	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 3.28×
• Total profit: $351,281
• Equity at exit: $495,484

10-year hold

• IRR: 26.1%
• Equity multiple: 8.04×
• Total profit: $1,083,939
• Equity at exit: $1,068,529

Cash invested: $154,000 (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 12534

• Home prices YoY: 5.6%
• Rents YoY: 10.9%
• Active inventory: 161
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $5,220 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$632 /mo · $7,583/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,096
• Net cashflow: $378

Break-even live

Break-even rent $4,741

Max offer price $550,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,220
Total (2 units)			$5,220

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
437 State St Hudson, NY	3.0	3.0	1800	$8,000	$4.44	44d	1	0.13mi
258 Warren St Hudson, NY	3.0	2.0	2464	$5,300	$2.15	23d	1	0.43mi
227 Warren St Unit 3 Hudson, NY	3.0	1.0	1400	$2,600	$1.86	23d	1	0.51mi

Listing history 13 events

1. 2026-04-09
   status Pending
2. 2026-04-05
   historical Active Under Contract
3. 2026-03-26
   listed $550,000 Active
4. 2024-08-01
   historical $2,300
5. 2024-07-26
   listed $2,300
6. 2024-04-28
   historical $2,300
7. 2024-04-02
   listed $2,300
8. 2024-04-01
   historical $2,300
9. 2023-12-22
   listed $2,300
10. 2016-10-06
    soldstatus $250,000
11. 2006-10-25
    soldstatus $240,000
12. 2002-12-13
    soldstatus $83,600
13. 2002-06-07
    soldstatus $50,000

ⓘ 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: $7,583 · $632/mo
• Projected year-2 tax: $8,439 · $703/mo
• Expected delta: +$856/yr (+$71/mo · 11.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $62,640
• − Mortgage interest: −$30,809
• − Property taxes: −$7,583
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,011
• − Management: −$5,011
• − Depreciation: −$16,000
• Taxable loss: −$4,524
• Est. tax savings @ 24.0%: +$1,086
• After-tax cash flow: $5,627/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: Hudson City School District
• NCES district ID: 3614940
• Math proficiency: 38% ▲ 4.00%
• Reading proficiency: 47% ▲ 7.00%
• Median HH income: $44,663
• Composite: 36.03/100
• National rank: #4779
• State rank: #494 of 590 in NY

Livability — Hudson

• Score: 70/100
• State rank: #430
• US rank: #7443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hudson, NY
• County: Columbia County · 17,176 people
• City population: 17,176
• Metro: Hudson, NY
• Population (ZIP): 17,176
• Household income: $72,741
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1083.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 58,662 people
• By 2030: 56,557 · -3.6%
• By 2040: 51,324 · -12.5%
• By 2050: 45,790 · -21.9%
• By 2075: 35,232 · -39.9%
• By 2100: 25,846 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 7% Black 7% Hispanic / Latino 7% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Iranian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Chinese 1%

Political lean MEDSL · Columbia

• 2024 margin: D (+14.7) · D 57.4% · R 42.6%
• 2008→2024 swing: +1.3pp toward D · 2008: 13.4pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+16.7 2016: D+1.4 2012: D+11.7 2008: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.98%
• Current HPI: 490.0412
• Rent YoY: ▲ 10.88%
• Metro: Hudson, 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

+1000.0% since first listed

13 events — show timeline

• 2026-04-09 Pending — HVCRMLS
• 2026-04-05 Contingent — HVCRMLS
• 2026-03-26 Listed $550,000 HVCRMLS
• 2024-08-01 Rental Removed $2,300 CGNDMLS
• 2024-07-26 Listed for Rent $2,300 CGNDMLS
• 2024-04-28 Rental Removed $2,300 CGNDMLS
• 2024-04-02 Listed for Rent $2,300 CGNDMLS
• 2024-04-01 Rental Removed $2,300 CGNDMLS
• 2023-12-22 Listed for Rent $2,300 CGNDMLS
• 2016-10-06 Sold (Public Records) $250,000 Public Records
• 2006-10-25 Sold (Public Records) $240,000 Public Records
• 2002-12-13 Sold (Public Records) $83,600 Public Records
• 2002-06-07 Sold (Public Records) $50,000 Public Records

Property tax history

+16.0%/yr

Latest (2025): $7,583 · -3.7% YoY. Source: county tax records.