167 Salem St · Port Ewen, NY 12429

$464,999

4 bd · 2.0 ba · 1,952 sqft · MultiFamily public records · 35 Days on market

Built 1890 6,000 sqft lot Est $342k · 36% 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 +12.6/30.0
• Appreciation +5.0/10.0
• Schools +4.4/10.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• 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 MLS

Coming Soon to the market

Key facts

• 6,000 sq ft lot
• Garage
• Built 1890

Property features AI

Exterior

• Parking: Driveway; Attached or detached garage with 1 garage space
• Utilities: Public sewer; Public water; Electricity connected; Natural gas connected; Cable connected; Sewer connected; Water connected
• Home design: Duplex; 1952 building area (public records); Actual property condition
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront; Full unfinished basement

Interior

• Kitchen: Eat-in, open kitchen layout
• Bedrooms: Two 2-bedroom units
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Open kitchen; Covered porch
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $465k.

Deal economics

• At list price, monthly cash flow is $-62 ($-748/yr) — negative. Per door: $-31/mo.
• To cash-flow at today's rent, offer at most $454k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $396k (14.7% below list).
• Recommended offer: $396k (14.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#469 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A-; Watch: amenities F, commute F.
• Kingston City School District (urban): math 44% / reading 59% proficiency, ranked #355 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Robert R Graves School (math 67% / reading 77%, grade A-, #378 of 2,108 statewide, top 20%, 316 students, 51% FRL); J Watson Bailey Middle School (math 22% / reading 48%, grade F, #480 of 729 statewide, top 66%, 968 students, 53% FRL); Kingston High School (math 94% / reading 91%, grade A+, #153 of 1,100 statewide, top 14%, 1,856 students, 85% FRL) — zoned schools average 63% FRL vs 45% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 66% at this address vs 52% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Kingston City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 14 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($3k loan paydown + $14k appreciation (3.0% local appreciation)).
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $130k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($451k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $310k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $396,500 (14.7% 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. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 0.85% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.57%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $341,600
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
185 Green St	0.07mi	3/— (-1)	1,816 (-7%)	4mo	$310,000	$171	76
168 Salem St St	0.02mi	3/— (-1)	2,000 (+2%)	16mo	$350,000	$175	76

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: 7.0%
• Equity multiple: 1.40×
• Total profit: $52,096
• Equity at exit: $209,084

10-year hold

• IRR: 9.8%
• Equity multiple: 2.47×
• Total profit: $191,157
• Equity at exit: $322,223

Cash invested: $130,200 (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 12429

• Active inventory: 14
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $3,965 high
• Mortgage (P&I): −$2,439
• Tax from tax record: −$562 /mo · $6,749/yr
• Insurance: −$194
• HOA: −$0
• Vacancy / Maint / Mgmt: −$833
• Net cashflow: $-62

Break-even live

Break-even rent $4,044

Max offer price $453,993

Occupancy floor 97%

Sensitivity live

Price	-10% $201	-5% $69	+0% $-62	+5% $-194	+10% $-326
Rent	-10% $-376	-5% $-219	+0% $-62	+5% $94	+10% $251
Rate	-1.0pp $172	-0.5pp $56	base $-62	+0.5pp $-183	+1.0pp $-305

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,966
Total (2 units)			$3,965

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: $116,250
• Closing costs: $13,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
156 Doris St Staatsburg, NY	4.0	2.0	1564	$3,750	$2.40	25d	1	0.26mi

Listing history 29 events

1. 2026-06-19
   days on market $464,999 Active 35 DOM
2. 2026-06-18
   days on market $464,999 Active 34 DOM
3. 2026-06-17
   days on market $464,999 Active 33 DOM
4. 2026-06-16
   days on market $464,999 Active 32 DOM
5. 2026-06-15
   days on market $464,999 Active 31 DOM
6. 2026-06-14
   days on market $464,999 Active 29 DOM
7. 2026-06-12
   days on market $464,999 Active 28 DOM
8. 2026-06-09
   days on market $464,999 Active 25 DOM
9. 2026-06-08
   days on market $464,999 Active 24 DOM
10. 2026-06-07
    days on market $464,999 Active 23 DOM
11. 2026-06-03
    days on market $464,999 Active 19 DOM
12. 2026-06-02
    days on market $464,999 Active 18 DOM
13. 2026-06-01
    days on market $464,999 Active 17 DOM
14. 2026-05-31
    days on market $464,999 Active 16 DOM
15. 2026-05-30
    days on market $464,999 Active 15 DOM
16. 2026-05-16
    listed $464,999 Active
17. 2026-05-02
    historical $464,999

    Show marketing remark (25 chars)

    Coming Soon to the market

18. 2026-05-02
    listed $464,999 Active 25-char remark

    Show marketing remark (25 chars)

    Coming Soon to the market

19. 2025-02-11
    soldstatus $310,000
20. 2025-02-06
    soldstatus $310,000 Closed 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

21. 2024-11-22
    status Pending 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

22. 2024-09-27
    historical Active Under Contract 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

23. 2024-09-17
    status Active 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

24. 2024-09-17
    price $350,000 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

25. 2024-06-24
    status Pending 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

26. 2024-05-17
    listed Active Under Contract 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

27. 2024-05-16
    soldstatus $310,000 Closed 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

28. 2024-02-26
    historical Accepted (Show) 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

29. 2024-01-19
    listed $325,000 Active 555-char remark

    Show marketing remark (555 chars)

    BACK ON MARKET !!! BUYER BACK OUT. Welcome to the Village of Port Ewen. Looking for a good investment property, this 2 Family rental unit is available, live in one unit and rent the other to offset your mortgage. Or just continue to rent it out. Here is your chance to become an investor of your future. Each unit has 2 nice size bedrooms, one bath and nice size living room with dining area. Unit A has a 1 car detached garage with parking and a large side covered porch. Unit B has 2 car parking area off of Bayard St. Rents are well below market value.

ⓘ 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: $6,749 · $562/mo
• Projected year-2 tax: $7,304 · $609/mo
• Expected delta: +$555/yr (+$46/mo · 8.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,580
• − Mortgage interest: −$26,047
• − Property taxes: −$6,749
• − Insurance: −$2,325
• − Repairs & maintenance: −$3,806
• − Management: −$3,806
• − Depreciation: −$13,527
• Taxable loss: −$8,681
• Est. tax savings @ 24.0%: +$2,083
• After-tax cash flow: $1,336/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: Kingston City School District
• NCES district ID: 3616290
• Math proficiency: 44% ▲ 1.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $52,586
• Composite: 44.22/100
• National rank: #2849
• State rank: #355 of 590 in NY

Livability — Port Ewen

• Score: 69/100
• State rank: #469
• US rank: #8190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Ewen, NY
• City population: 1,981
• Population (ZIP): 168

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 48% White 26% Hispanic / Latino 26% Two or more races 11%
• Hispanic origin (detail): Mexican 11% Puerto Rican 15%
• Languages at home: 89% English-only · Spanish 11%

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: —
• Current HPI: —
• 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

+43.1% since first listed

14 events — show timeline

• 2026-05-16 Listed $464,999 OneKey® MLS as Distributed by MLS Grid
• 2026-05-02 Coming Soon $464,999 OneKey® MLS as Distributed by MLS Grid
• 2026-05-02 Listed $464,999 HVCRMLS
• 2025-02-11 Sold (Public Records) $310,000 Public Records
• 2025-02-06 Sold (MLS) $310,000 HVCRMLS
• 2024-11-22 Pending — HVCRMLS
• 2024-09-27 Contingent — HVCRMLS
• 2024-09-17 Relisted — HVCRMLS
• 2024-09-17 Price Changed $350,000 HVCRMLS
• 2024-06-24 Pending — HVCRMLS
• 2024-05-17 Listed — HVCRMLS
• 2024-05-16 Sold (MLS) $310,000 HVCRMLS
• 2024-02-26 Contingent — HVCRMLS
• 2024-01-19 Listed $325,000 HVCRMLS

Property tax history

+2.4%/yr

Latest (2025): $6,749 · +3.6% YoY. Source: county tax records.