664-666 N Division St · Peekskill, NY 10566

$950,000

8 bd · 4.0 ba · 4,815 sqft · MultiFamily · 6 Days on market

Built 1934 7,655 sqft lot Est $1083k · 12% under

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Why this score? — see what drove the B- 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 +27.1/30.0
• ARV discount +13.0/15.0
• DSCR +9.4/10.0
• 1% rule +7.3/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Positioned for both immediate income and long-term upside, this charming quadruplex in Peekskill offers a rare blend of classic character, modern upgrades, and strategic location—an ideal opportunity for investors seeking strong returns in a growing Hudson Valley market. Showcasing subtle Colonial Revival architecture influences, the property presents timeless curb appeal with its symmetrical façade, warm shutters, and inviting residential presence. Behind that charm lies a highly functional, income-producing asset configured as four distinct units: one spacious 4-bedroom apartment, two 2-bedroom units, and one 1-bedroom apartment—appealing to a broad tenant base and maxi

Key facts

• 7,655 sq ft lot
• 4 parking spots
• Built 1934

Property features AI

Exterior

• Parking: Carport; Driveway parking for four vehicles
• Utilities: Electricity connected (Con-Edison); Water connected; Public sewer / sewer connected
• Home design: Quadruplex
• Construction: Advanced framing technique
• Exterior features: Outbuilding

Interior

• Kitchen: Eat-in and open kitchens; Galley-style kitchen; Pantry; Walk-through kitchen
• Bedrooms: One 4-bedroom unit; Two 2-bedroom units; One 1-bedroom unit
• Bathrooms: Four full bathrooms
• Heating & cooling: Oil heating; Other heating; No central cooling
• Interior features: First-floor full bath; Built-in features; Eat-in kitchen; Entrance foyer; Formal dining room; Galley kitchen; High ceilings; In-law floorplan; Open floorplan; Open kitchen; Original details; Pantry; Storage; Walk-through kitchen; Walk-in closet(s); Deck; Patio
• Laundry & utility: Basement with walk-out access

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $950k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $676/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $950k).
• Cap rate 9.7% vs local median 3.2% in Peekskill — 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 (#132 in NY, #2,121 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, crime A-; Watch: amenities F, cost of living F.
• Peekskill City School District (suburban): math 37% / reading 36% proficiency, ranked #670 of 755 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hillcrest School (math 24% / reading 37%, grade F, #1,684 of 2,108 statewide, top 80%, 560 students, 61% FRL); Peekskill Middle School (math 75% / reading 70%, grade A, #75 of 729 statewide, top 10%, 794 students, 63% FRL); Peekskill High School (math 79% / reading 44%, grade B-, #841 of 1,100 statewide, top 76%, 1,017 students, 60% FRL) — zoned schools at 61% FRL track the district average.
• Zoned-school proficiency averages 55% at this address vs 36% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Peekskill City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 117 active listings in the ZIP; solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $11,716/mo this rent would consume 164% of the median local household income ($86k/yr) (locally 1507% 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 $7k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• 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 $950,000

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 1934 — 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: 1.23% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $1,083,375
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
664-666 N Division St	0.00mi	8/4.0	4,815 (0%)	0mo	$1,085,750	$225	100

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 · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-14,679
• Equity at exit: $141,648

10-year hold

• IRR: 4.8%
• Equity multiple: 1.31×
• Total profit: $81,667
• Equity at exit: $82,139

Cash invested: $266,000 (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 10566

• Home prices YoY: -23.9%
• Rents YoY: 0.1%
• Active inventory: 117
• Price-to-rent: 27.0×

Monthly cashflow live

• Estimated rent: $11,716 high
• Mortgage (P&I): −$4,982
• Tax from tax record: −$1,176 /mo · $14,111/yr
• Insurance: −$396
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,460
• Net cashflow: $2,702

Break-even live

Break-even rent $8,296

Max offer price $950,000

Occupancy floor 72%

Sensitivity live

Price	-10% $3,240	-5% $2,971	+0% $2,702	+5% $2,433	+10% $2,164
Rent	-10% $1,776	-5% $2,239	+0% $2,702	+5% $3,165	+10% $3,628
Rate	-1.0pp $3,180	-0.5pp $2,944	base $2,702	+0.5pp $2,456	+1.0pp $2,205

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$11,716
Total (4 units)			$11,716

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: $237,500
• Closing costs: $28,500
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-15
   status Pending
2. 2026-04-10
   listed $950,000 Active
3. 2026-04-07
   historical $950,000

ⓘ 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: $14,111 · $1,176/mo
• Projected year-2 tax: $15,083 · $1,257/mo
• Expected delta: +$972/yr (+$81/mo · 6.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $140,592
• − Mortgage interest: −$53,215
• − Property taxes: −$14,111
• − Insurance: −$4,750
• − Repairs & maintenance: −$11,247
• − Management: −$11,247
• − Depreciation: −$27,636
• Taxable income: $18,385
• Est. tax owed @ 24.0%: −$4,412
• After-tax cash flow: $28,012/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: Peekskill City School District
• NCES district ID: 3622650
• Math proficiency: 37% ▲ 4.00%
• Reading proficiency: 36% ▲ 4.00%
• Median HH income: $54,563
• Composite: 34.6/100
• National rank: #10089
• State rank: #670 of 755 in NY

Livability — Peekskill

• Score: 79/100
• State rank: #132
• US rank: #2121

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peekskill, NY
• County: Westchester County · 709,332 people
• City population: 25,625
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 25,625
• Household income: $85,954
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1507.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 46% White 32% Black 17% Two or more races 14% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 3% Dominican 4%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 27% · Canada
• Languages at home: 57% English-only · Spanish 37% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.67%
• Current HPI: 307.944
• Rent YoY: ▲ 0.12%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-10 Listed $950,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-07 Coming Soon $950,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+1.9%/yr

Latest (2025): $14,111 · +1.4% YoY. Source: county tax records.