1901 Cortland Dr Unit 19A · Marlboro, NY 12550

$167,900

1 bd · 1.0 ba · 762 sqft · Condo public records · 49 Days on market

Built 1973 $220/sqft · 10% above area Est $164k · at est. $300/mo HOA · 15% of rent

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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 +19.0/30.0
• 1% rule +7.2/10.0
• ARV discount +6.6/15.0
• DSCR +6.0/10.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to effortless living in the desirable Parr Valley East community. This FULLY RENOVATED, move-in-ready condo has been completely transformed from top to bottom, offering the perfect blend of style, simplicity, and low-maintenance living. Whether you’re a first-time buyer, downsizer, busy professional, or investor seeking a turnkey rental opportunity, this property checks every box. Step inside to discover a bright, modern interior featuring brand-new flooring, fresh paint, updated fixtures, and a beautifully redesigned kitchen with contemporary finishes and sleek appliances. The open-concept layout creates an inviting flow, maximizing both space and functionality. The renovated

Key facts

• Modern interior
• Fully renovated
• Renovated bathroom

Tags

• FULLY RENOVATED
• MODERN INTERIOR
• REDESIGNED KITCHEN
• RENOVATED BATHROOM
• LOCAL RESTAURANTS
• STRATEGIC LOCATION

Property features AI

Finance

• HOA & community: Condo association managed by Spinnaker Management; Monthly association fee of $300; HOA covers exterior maintenance, grounds care, pool service, and sewer

Exterior

• Parking: Assigned parking; 1 parking space (carport listed as No; 1 carport space recorded)
• Utilities: Public sewer; Electricity connected; Water connected; Trash collection (public)
• Home design: Condominium; Entry at level 1
• Construction: Living area per public records
• Exterior features: Not waterfront; Construction materials: unknown

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave; Stainless steel appliances
• Bedrooms: Bedroom on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Baseboard heating
• Interior features: First-floor bedroom; First-floor full bathroom; Ceiling fans; Marble countertops; 5 total rooms; No basement; No attic
• Laundry & utility: Utilities connected (electricity, water, sewer)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $168k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $163k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.0% in Marlboro — 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 72/100 on livability (#347 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living D+, amenities F, commute D-.
• Marlboro Central School District (suburban): math 43% / reading 55% proficiency, ranked #366 of 590 in NY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marlboro Elementary School (math 28% / reading 50%, grade F, #1,505 of 2,108 statewide, top 72%, 761 students, 0% FRL); Marlboro Middle School (math 36% / reading 43%, grade F, #418 of 729 statewide, top 59%, 433 students, 45% FRL); Marlboro Central High School (math 92% / reading 92%, grade A+, #171 of 1,100 statewide, top 18%, 628 students, 37% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: Rents flat; 383 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $100k; list at $168k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,863 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
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: 1.22% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 6.8

CMA / ARV

• ARV (median comp): $164,499
• List price: $167,900
• Delta: 2.07%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.56×
• Total profit: $-20,632
• Equity at exit: $25,034

10-year hold

• IRR: -8.4%
• Equity multiple: 0.54×
• Total profit: $-21,465
• Equity at exit: $14,517

Cash invested: $47,012 (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: 6.8×

Monthly cashflow live

• Estimated rent: $2,050 high
• Mortgage (P&I): −$880
• Tax from tax record: −$194 /mo · $2,327/yr
• Insurance: −$70
• HOA: −$300
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $175

Break-even live

Break-even rent $1,828

Max offer price $167,900

Occupancy floor 86%

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: $41,975
• Closing costs: $5,037
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Kayla Ct Newburgh, NY	2.0	2.5	1121	$3,050	$2.72	13d	3	0.12mi
1008 McIntosh Pl Unit 10H Newburgh, NY	2.0	1.0	1000	$2,000	$2.00	43d	1	0.13mi
1805 Parr Lake Dr Unit 18E Newburgh, NY	1.0	1.0	742	$1,700	$2.29	43d	1	0.21mi
78 Holmes Rd Unit 1 Newburgh, NY	1.0	1.0	650	$1,850	$2.85	43d	1	1.26mi
5273 Rte 9W Newburgh, NY	2.0	1.0	1000	$1,800	$1.80	13d	1	1.27mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $167,900 Active 49 DOM
2. 2026-06-17
   days on market $167,900 Active 48 DOM
3. 2026-06-16
   days on market $167,900 Active 47 DOM
4. 2026-06-15
   days on market $167,900 Active 46 DOM
5. 2026-06-14
   days on market $167,900 Active 44 DOM
6. 2026-06-13
   days on market $167,900 Active 43 DOM
7. 2026-06-10
   days on market $167,900 Active 41 DOM
8. 2026-06-09
   days on market $167,900 Active 40 DOM
9. 2026-06-08
   days on market $167,900 Active 39 DOM
10. 2026-06-07
    days on market $167,900 Active 38 DOM
11. 2026-06-03
    days on market $167,900 Active 34 DOM
12. 2026-06-02
    days on market $167,900 Active 33 DOM
13. 2026-06-01
    days on market $167,900 Active 32 DOM
14. 2026-05-31
    days on market $167,900 Active 31 DOM
15. 2026-05-30
    days on market $167,900 Active 30 DOM
16. 2026-04-30
    listed $167,900 Active 1365-char remark
17. 2026-02-18
    soldstatus $99,500
18. 2025-09-22
    soldstatus $70,000
19. 2004-01-05
    soldstatus $60,000

ⓘ 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: $2,327 · $194/mo
• Projected year-2 tax: $2,582 · $215/mo
• Expected delta: +$255/yr (+$21/mo · 11.0%)

ⓘ 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 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,598
• − Mortgage interest: −$9,405
• − Property taxes: −$2,327
• − Insurance: −$840
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − HOA: −$3,600
• − Depreciation: −$4,884
• Taxable loss: −$394
• Est. tax savings @ 24.0%: +$95
• After-tax cash flow: $2,194/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: Marlboro Central School District
• NCES district ID: 3618570
• Math proficiency: 43% ▼ -10.00%
• Reading proficiency: 55% ▲ 8.00%
• Median HH income: $68,737
• Composite: 43.7/100
• National rank: #2953
• State rank: #366 of 590 in NY

Livability — Marlboro

• Score: 72/100
• State rank: #347
• US rank: #5847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Orange County · 267,004 people
• 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

+179.8% since first listed

4 events — show timeline

• 2026-04-30 Listed $167,900 OneKey® MLS as Distributed by MLS Grid
• 2026-02-18 Sold (Public Records) $99,500 Public Records
• 2025-09-22 Sold (Public Records) $70,000 Public Records
• 2004-01-05 Sold (Public Records) $60,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,327 · +10.7% YoY. Source: county tax records.