136 N Chestnut St Unit 16a · New Paltz, NY 12561

$275,000

1 bd · 1.0 ba · 810 sqft · SingleFamily public records · 20 Days on market

Built 1986 435 sqft lot $340/sqft · 6% above area Est $259k · 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).

• Cash flow +12.8/30.0
• Schools +6.7/10.0
• ARV discount +4.7/15.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you are looking for new, move in ready - this is it. Unit 16-A has undergone a complete renovation including full interior painting, complete new bathroom toilet, vanity, tile and flooring, new kitchen including granite counter top, breakfast bar, new refrigerator, stove, microwave and dishwasher. New flooring has been installed in the kitchen as well. All doors have been are new. The hardwood floors have been beautifully refinished. Once you move in, you can enjoy the New Paltz area including Mohonk Preserve, the Moriello Pool/Park, Mill Brook Preserve, rail trails and more.

Key facts

• Built 1986
• Listed 20 days

Property features AI

Exterior

• Parking: Assigned parking in a parking lot
• Home design: Residential condominium; Attached property; Zoned R2
• Exterior features: Located in Village Arms complex (east side of 32 N, two blocks up from N Front St)

Interior

• Kitchen: Dishwasher; Electric range / Range
• Flooring: Hardwood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (see remarks); Wall/window air conditioning units
• Interior features: Dishwasher; Electric range / Range; Hardwood floors; Tile floors

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-26 ($-307/yr) — negative.
• To cash-flow at today's rent, offer at most $270k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (14.5% below list).
• Recommended offer: $235k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 1.8% in New Paltz — 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 79/100 on livability (#128 in NY, #2,042 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, housing D+, employment D-.
• New Paltz Central School District (suburban): math 67% / reading 88% proficiency, ranked #70 of 590 in NY (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 92 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $235,057 (14.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

• ARV (median comp): $258,779
• List price: $275,000
• Delta: 6.27%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Huguenot St #4	0.67mi	1/1.0	784 (-3%)	8mo	$228,000	$291	57
12 Hummel Rd	0.49mi	2/1.0 (+1)	816 (+1%)	23mo	$421,077	$516	51

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-46,166
• Equity at exit: $41,003

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-42,198
• Equity at exit: $23,777

Cash invested: $77,000 (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 12561

• Active inventory: 92
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,351 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$326 /mo · $3,910/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $-26

Break-even live

Break-even rent $2,383

Max offer price $270,484

Occupancy floor 96%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 N Chestnut St New Paltz, NY	1.0–3.0	1.0–2.0	852	$2,250	$2.64	14d	4	0.06mi
87 N Chestnut St Unit 409 New Paltz, NY	2.0	2.0	1100	$2,924	$2.66	43d	1	0.25mi
21 Colonial Dr New Paltz, NY	1.0–2.0	1.0	740	$1,765	$2.39	13d	10	0.75mi
58 S Manheim Blvd New Paltz, NY	2.0	1.0	1100	$2,350	$2.14	13d	1	1.12mi

Listing history 10 events

1. 2026-05-14
   historical Active Under Contract 1168-char remark
2. 2026-05-05
   listed $275,000 Active 1168-char remark
3. 2023-05-10
   soldstatus $239,900
4. 2023-05-08
   soldstatus $239,900 Sold 585-char remark

   Show marketing remark (585 chars)

   If you are looking for new, move in ready - this is it. Unit 16-A has undergone a complete renovation including full interior painting, complete new bathroom toilet, vanity, tile and flooring, new kitchen including granite counter top, breakfast bar, new refrigerator, stove, microwave and dishwasher. New flooring has been installed in the kitchen as well. All doors have been are new. The hardwood floors have been beautifully refinished. Once you move in, you can enjoy the New Paltz area including Mohonk Preserve, the Moriello Pool/Park, Mill Brook Preserve, rail trails and more.

5. 2023-04-20
   status Pending (Fully Executed Contract) 585-char remark

   Show marketing remark (585 chars)

   If you are looking for new, move in ready - this is it. Unit 16-A has undergone a complete renovation including full interior painting, complete new bathroom toilet, vanity, tile and flooring, new kitchen including granite counter top, breakfast bar, new refrigerator, stove, microwave and dishwasher. New flooring has been installed in the kitchen as well. All doors have been are new. The hardwood floors have been beautifully refinished. Once you move in, you can enjoy the New Paltz area including Mohonk Preserve, the Moriello Pool/Park, Mill Brook Preserve, rail trails and more.

6. 2023-03-21
   status Pending (Continue To Show) 585-char remark

   Show marketing remark (585 chars)

   If you are looking for new, move in ready - this is it. Unit 16-A has undergone a complete renovation including full interior painting, complete new bathroom toilet, vanity, tile and flooring, new kitchen including granite counter top, breakfast bar, new refrigerator, stove, microwave and dishwasher. New flooring has been installed in the kitchen as well. All doors have been are new. The hardwood floors have been beautifully refinished. Once you move in, you can enjoy the New Paltz area including Mohonk Preserve, the Moriello Pool/Park, Mill Brook Preserve, rail trails and more.

7. 2023-02-15
   listed $239,900 Active 585-char remark

   Show marketing remark (585 chars)

   If you are looking for new, move in ready - this is it. Unit 16-A has undergone a complete renovation including full interior painting, complete new bathroom toilet, vanity, tile and flooring, new kitchen including granite counter top, breakfast bar, new refrigerator, stove, microwave and dishwasher. New flooring has been installed in the kitchen as well. All doors have been are new. The hardwood floors have been beautifully refinished. Once you move in, you can enjoy the New Paltz area including Mohonk Preserve, the Moriello Pool/Park, Mill Brook Preserve, rail trails and more.

8. 2016-01-27
   soldstatus $100,000
9. 1994-06-29
   soldstatus $35,000
10. 1989-06-27
    soldstatus $54,900

ⓘ 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: $3,910 · $326/mo
• Projected year-2 tax: $4,279 · $357/mo
• Expected delta: +$369/yr (+$31/mo · 9.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $28,207
• − Mortgage interest: −$15,404
• − Property taxes: −$3,910
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,257
• − Management: −$2,257
• − Depreciation: −$8,000
• Taxable loss: −$4,995
• Est. tax savings @ 24.0%: +$1,199
• After-tax cash flow: $892/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: New Paltz Central School District
• NCES district ID: 3620460
• Math proficiency: 67% ▲ 5.00%
• Reading proficiency: 88% ▲ 28.00%
• Median HH income: $68,223
• Composite: 67.25/100
• National rank: #386
• State rank: #70 of 590 in NY

Livability — New Paltz

• Score: 79/100
• State rank: #128
• US rank: #2042

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Paltz, NY
• Population (ZIP): 18,531

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Two or more races 9% Black 6% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 3% Slovak 3% Scotch-Irish 3%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 5% Other Asian/Pacific 2% Chinese 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: ▼ -203.50%
• Current HPI: 331.5122
• Rent YoY: —
• Metro: —
• 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

+400.9% since first listed

11 events — show timeline

• 2026-05-26 Pending — HVCRMLS
• 2026-05-14 Contingent — HVCRMLS
• 2026-05-05 Listed $275,000 HVCRMLS
• 2023-05-10 Sold (Public Records) $239,900 Public Records
• 2023-05-08 Sold (MLS) $239,900 HVCRMLS
• 2023-04-20 Pending — HVCRMLS
• 2023-03-21 Pending — HVCRMLS
• 2023-02-15 Listed $239,900 HVCRMLS
• 2016-01-27 Sold (Public Records) $100,000 Public Records
• 1994-06-29 Sold (Public Records) $35,000 Public Records
• 1989-06-27 Sold (Public Records) $54,900 Public Records

Property tax history

+1.8%/yr

Latest (2025): $3,910 · +1.6% YoY. Source: county tax records.