18 Vernon Ter · Poughkeepsie, NY 12601

$335,000

4 bd · 2.0 ba · 1,500 sqft · MultiFamily public records · 48 Days on market

Built 1941 4,356 sqft lot $223/sqft · 49% below area Est $655k · 49% under

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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 +17.3/30.0
• ARV discount +15.0/15.0
• 1% rule +6.3/10.0
• DSCR +5.4/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Charming duplex at 18 Vernon Terrace in Poughkeepsie — a bright, well-maintained 2-family property offering two separate units, each with 2 bedrooms, 1 bathroom, a spacious living room, eat-in kitchen and hardwood floors throughout; with separate entrances and electric utilities, this property is an excellent investment opportunity or perfect for an owner-occupant who wants to live in one unit and rent the other to offset the mortgage. Recent mechanical and exterior updates boost reliability and curb appeal that include a brand-new oil tank and hot water heater to ensure dependable hot water and heating performance, a well-maintained boiler (approximately 12 years old), a roof roughly 10 years old for long-term protection, newer siding and replacement windows that refresh the exterior and improve energy efficiency, and upgraded electric panels for safer, more reliable service. Located minutes from downtown Poughkeepsie and Main Street’s dining and shops, close to the Poughkeepsie waterfront and Waryas Park, within easy reach of Vassar College and its cultural amenities, and convenient to the Metro-North Poughkeepsie Station for regional commuting to NYC, plus quick access to Route 9 and the Mid-Hudson Bridge corridor; grocery stores, restaurants and pharmacies are nearby, making 18 Vernon Terrace a smart buy for investors or homeowners seeking steady rental income and convenient city living.

Key facts

• Two separate units
• Eat in kitchen
• Separate entrances

Tags

• TWO SEPARATE UNITS
• SPACIOUS LIVING ROOM
• EAT IN KITCHEN
• HARDWOOD FLOORS
• SEPARATE ENTRANCES
• RECENT MECHANICAL UPDATES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $335k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive. Per door: $122/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $335k).
• Recommended offer: $325k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.4% in Poughkeepsie — 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 78/100 on livability (#165 in NY, #2,577 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: employment D+, crime F.
• Poughkeepsie City School District (suburban): math 29% / reading 42% proficiency, ranked #559 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.7%/yr); 189 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $3,782/mo this rent would consume 71% of the median local household income ($64k/yr) (locally 2891% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $105k; list at $335k implies a 219% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $324,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.13% ✓
• Cap rate: 7.17%
• Cash-on-cash: 3.13%
• DSCR: 1.14
• GRM: 7.4

CMA / ARV

• ARV (median comp): $654,717
• List price: $335,000
• Delta: -48.83%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Vernon Ter	0.03mi	4/2.0	1,500 (0%)	15mo	$335,000	$223	86
45 Vernon Ter	0.08mi	4/2.0	1,500 (0%)	15mo	$310,000	$207	84

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-35,822
• Equity at exit: $49,950

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $839
• Equity at exit: $28,965

Cash invested: $93,800 (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 12601

• Rents YoY: 3.7%
• Active inventory: 189
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $3,782 high
• Mortgage (P&I): −$1,757
• Tax from tax record: −$847 /mo · $10,162/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$794
• Net cashflow: $245

Break-even live

Break-even rent $3,472

Max offer price $335,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,782
Total (2 units)			$3,782

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
61 Delafield St Unit 2 Poughkeepsie, NY	3.0	1.0	1400	$2,600	$1.86	14d	1	0.15mi
40 Parker Ave Apt 1 Poughkeepsie, NY	3.0	1.0	1100	$2,100	$1.91	44d	1	0.24mi
50 Parker Ave Unit 3 Poughkeepsie, NY	3.0	1.0	1300	$2,100	$1.62	44d	1	0.27mi
50 Parker Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1300	$2,150	$1.65	23d	1	0.27mi
32 Balding Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1226	$2,500	$2.04	44d	1	0.33mi
77 Marshall St Unit 1F Poughkeepsie, NY	3.0	1.0	1050	$2,350	$2.24	44d	1	0.34mi
77 Marshall St Fl 1 Poughkeepsie, NY	3.0	1.0	1050	$2,250	$2.14	23d	1	0.34mi
77 Marshall St Poughkeepsie, NY	3.0	1.0	1050	$2,250	$2.14	44d	1	0.34mi
6mt Carmel PL Unit 2 Poughkeepsie, NY	3.0	1.0	1250	$2,500	$2.00	23d	1	0.46mi
43 High St Unit 1 Poughkeepsie, NY	4.0	1.0	1250	$2,300	$1.84	23d	1	0.53mi
197 N Hamilton St #2 Poughkeepsie, NY	3.0	1.0	1056	$2,200	$2.08	23d	1	0.58mi
156 N Clinton St Apt 2 Poughkeepsie, NY	3.0	1.0	1300	$1,800	$1.38	23d	1	0.63mi
2 Park Pl Unit 2 Poughkeepsie, NY	3.0	1.0	1380	$1,900	$1.38	23d	1	0.74mi
1 S Hamilton St Unit 3 Poughkeepsie, NY	3.0	1.0	1100	$2,500	$2.27	44d	1	0.79mi
236 Mansion St #2 Poughkeepsie, NY	3.0	1.0	2076	$2,600	$1.25	44d	1	0.80mi
49 S Hamilton St Unit 2 Poughkeepsie, NY	3.0	1.0	1100	$2,000	$1.82	44d	1	0.91mi
1 Grove St Poughkeepsie, NY	3.0	1.0	1200	$1,750	$1.46	44d	1	0.92mi
36 Pine St Unit Three Bedroom Waitlist Poughkeepsie, NY	3.0	2.0	1299	$3,300	$2.54	44d	1	0.97mi
9 Bartlett St Poughkeepsie, NY	3.0	1.0	1080	$2,000	$1.85	23d	1	1.01mi
94 Winnikee Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1100	$2,000	$1.82	14d	1	1.04mi
197 Winnikee Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1344	$2,600	$1.93	44d	1	1.06mi
104 Winnikee Ave #3 Poughkeepsie, NY	3.0	1.0	1100	$2,200	$2.00	44d	1	1.07mi
148 Winnikee Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1198	$1,900	$1.59	44d	1	1.09mi
25 Virginia Ave Unit 1 Poughkeepsie, NY	3.0	1.0	1150	$2,200	$1.91	44d	1	1.14mi
1 Dean Pl Poughkeepsie, NY	3.0	2.5	1700	$4,000	$2.35	14d	1	1.17mi
15 Forbus St Poughkeepsie, NY	3.0	1.0	2140	$2,500	$1.17	23d	1	1.22mi
8 Fox Ter Unit 1 Poughkeepsie, NY	3.0	1.0	1450	$2,200	$1.52	44d	1	1.25mi
32 Salt Point Tpke Poughkeepsie, NY	3.0	2.5	1761	$3,000	$1.70	21d	1	1.32mi
37 Roosevelt Ave Unit 1 Poughkeepsie, NY	3.0	1.0	1250	$2,000	$1.60	21d	1	1.43mi
18 Innis Ave Unit 1 Poughkeepsie, NY	3.0	1.0	1344	$2,500	$1.86	23d	1	1.49mi

Listing history 3 events

1. 2026-06-07
   status $335,000 Pending 48 DOM
2. 2026-04-01
   listed $335,000 Active 1426-char remark

   Show marketing remark (1426 chars)

   Charming duplex at 18 Vernon Terrace in Poughkeepsie — a bright, well-maintained 2-family property offering two separate units, each with 2 bedrooms, 1 bathroom, a spacious living room, eat-in kitchen and hardwood floors throughout; with separate entrances and electric utilities, this property is an excellent investment opportunity or perfect for an owner-occupant who wants to live in one unit and rent the other to offset the mortgage. Recent mechanical and exterior updates boost reliability and curb appeal that include a brand-new oil tank and hot water heater to ensure dependable hot water and heating performance, a well-maintained boiler (approximately 12 years old), a roof roughly 10 years old for long-term protection, newer siding and replacement windows that refresh the exterior and improve energy efficiency, and upgraded electric panels for safer, more reliable service. Located minutes from downtown Poughkeepsie and Main Street’s dining and shops, close to the Poughkeepsie waterfront and Waryas Park, within easy reach of Vassar College and its cultural amenities, and convenient to the Metro-North Poughkeepsie Station for regional commuting to NYC, plus quick access to Route 9 and the Mid-Hudson Bridge corridor; grocery stores, restaurants and pharmacies are nearby, making 18 Vernon Terrace a smart buy for investors or homeowners seeking steady rental income and convenient city living.

3. 2000-01-26
   soldstatus $105,000

ⓘ 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: $10,162 · $847/mo
• Projected year-2 tax: $10,162 · $847/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,384
• − Mortgage interest: −$18,765
• − Property taxes: −$10,162
• − Insurance: −$1,675
• − Repairs & maintenance: −$3,631
• − Management: −$3,631
• − Depreciation: −$9,745
• Taxable loss: −$2,226
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $3,469/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: Poughkeepsie City School District
• NCES district ID: 3623760
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 42% ▲ 12.00%
• Median HH income: $39,159
• Composite: 29.68/100
• National rank: #6459
• State rank: #559 of 590 in NY

Livability — Poughkeepsie

• Score: 78/100
• State rank: #165
• US rank: #2577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poughkeepsie, NY
• County: Dutchess County · 188,048 people
• City population: 86,468
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 44,164
• Household income: $63,652
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 2891.0

Population outlook (Dutchess County) Hauer SSP2

• Today (2025): 291,768 people
• By 2030: 287,131 · -1.6%
• By 2040: 274,881 · -5.8%
• By 2050: 259,971 · -10.9%
• By 2075: 235,366 · -19.3%
• By 2100: 208,786 · -28.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 17% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 79% English-only · Spanish 15% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Dutchess

• 2024 margin: Lean D (+5.4) · D 52.7% · R 47.3%
• 2008→2024 swing: -3.2pp toward R · 2008: 8.6pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+9.6 2016: R+1.1 2012: D+6.6 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.62%
• Current HPI: 293.9789
• Rent YoY: ▲ 3.67%
• 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

+219.0% since first listed

2 events — show timeline

• 2026-04-01 Listed $335,000 OneKey® MLS as Distributed by MLS Grid
• 2000-01-26 Sold (Public Records) $105,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $10,162 · +54.3% YoY. Source: county tax records.