102 Renwick St · Newburgh, NY 12550

$438,000

8 bd · 3.0 ba · 3,300 sqft · MultiFamily public records · 112 Days on market

Built 1900 2,925 sqft lot Est $478k · 8% 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 +29.5/30.0
• ARV discount +11.3/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Renovated w/ new windows, new roof, new appliances tenants pay all a real moneymaker!! Fully rented! Hw floors. .

Key facts

• Three units
• Numerous upgrades
• Nice backyard

Tags

• BRICK BUILDING
• THREE UNITS
• UPDATED RENTAL LICENSES
• WATERFRONT
• NUMEROUS UPGRADES
• NICE BACKYARD

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $438k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $524/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $438k).
• Recommended offer: $399k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.4% in Newburgh — 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 62/100 on livability (#878 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+, cost of living B; Watch: employment D+, crime F, amenities F.
• Newburgh City School District (suburban): math 33% / reading 48% proficiency, ranked #500 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Horizon-On-The-Hudson Magnet School (math 17% / reading 32%, grade F, #1,846 of 2,108 statewide, top 91%, 455 students, 57% FRL); South Middle School (math 7% / reading 33%, grade F, #666 of 729 statewide, top 93%, 878 students, 58% FRL); Newburgh Free Academy (math 76% / reading 85%, grade A, #506 of 1,100 statewide, top 46%, 3,433 students, 56% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: Rents flat; 383 active listings in the ZIP; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• At $6,494/mo this rent would consume 91% of the median local household income ($86k/yr) (locally 2412% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($399k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $26k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1900 — 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 $398,580 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 1.48% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.39%
• DSCR: 1.68
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $478,500
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
87 Overlook Pl	0.15mi	8/3.0	3,159 (-4%)	11mo	$510,000	$161	77
120 Renwick St	0.04mi	9/3.0 (+1)	3,384 (+2%)	15mo	$465,000	$137	76
105 Renwick St	0.02mi	9/3.0 (+1)	3,132 (-5%)	16mo	$435,000	$139	72
103 Overlook Pl	0.18mi	9/3.0 (+1)	3,185 (-4%)	12mo	$580,000	$182	71
11 Liberty St	0.03mi	7/3.0 (-1)	3,024 (-8%)	17mo	$525,000	$174	65
103 Carson Ave	0.15mi	9/3.0 (+1)	3,162 (-4%)	23mo	$460,000	$145	62
106 Washington St	0.27mi	9/3.0 (+1)	3,531 (+7%)	12mo	$375,000	$106	61
47 Carpenter Ave	0.63mi	8/3.0	3,234 (-2%)	23mo	$460,000	$142	48
55 Carpenter Ave	0.64mi	8/4.0	3,000 (-9%)	9mo	$435,000	$145	44
57 Carpenter Ave	0.64mi	7/3.0 (-1)	3,000 (-9%)	8mo	$460,000	$153	44
189 Liberty St	0.51mi	7/5.0 (-1)	2,927 (-11%)	16mo	$565,000	$193	31

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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.12×
• Total profit: $14,522
• Equity at exit: $65,307

10-year hold

• IRR: 10.1%
• Equity multiple: 1.69×
• Total profit: $84,194
• Equity at exit: $37,870

Cash invested: $122,640 (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: 16.9×

Monthly cashflow live

• Estimated rent: $6,494 high
• Mortgage (P&I): −$2,297
• Tax from tax record: −$1,078 /mo · $12,931/yr
• Insurance: −$182
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,364
• Net cashflow: $1,573

Break-even live

Break-even rent $4,503

Max offer price $438,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,495
Total (3 units)			$6,494

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: $109,500
• Closing costs: $13,140
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-01-12
   soldstatus $408,000
2. 2025-11-12
   status Pending
3. 2025-09-15
   price $438,000
4. 2025-07-22
   listed $464,000 Active
5. 2020-04-10
   soldstatus $300,000
6. 2013-12-18
   price $219,900 114-char remark

   Show marketing remark (114 chars)

   Renovated w/ new windows, new roof, new appliances tenants pay all a real moneymaker!! Fully rented! Hw floors. .

7. 2008-02-14
   soldstatus $204,000
8. 2005-07-28
   soldstatus $289,380
9. 2005-07-18
   soldstatus $273,000 157-char remark

   Show marketing remark (157 chars)

   Nice brick bulding w/ Hwood floors. Walking distance from the river. All sep. utilities. New windows, new roof, new appliances, some new doors. Fully rented.

10. 2005-05-13
    price $282,000 157-char remark

    Show marketing remark (157 chars)

    Nice brick bulding w/ Hwood floors. Walking distance from the river. All sep. utilities. New windows, new roof, new appliances, some new doors. Fully rented.

11. 2005-05-13
    historical 157-char remark

    Show marketing remark (157 chars)

    Nice brick bulding w/ Hwood floors. Walking distance from the river. All sep. utilities. New windows, new roof, new appliances, some new doors. Fully rented.

12. 2005-03-18
    listed $273,000 157-char remark

    Show marketing remark (157 chars)

    Nice brick bulding w/ Hwood floors. Walking distance from the river. All sep. utilities. New windows, new roof, new appliances, some new doors. Fully rented.

13. 2005-03-15
    soldstatus $220,000
14. 2005-03-03
    soldstatus $220,000 114-char remark

    Show marketing remark (114 chars)

    Renovated w/ new windows, new roof, new appliances tenants pay all a real moneymaker!! Fully rented! Hw floors. .

15. 2005-01-31
    historical 114-char remark

    Show marketing remark (114 chars)

    Renovated w/ new windows, new roof, new appliances tenants pay all a real moneymaker!! Fully rented! Hw floors. .

16. 2004-10-18
    listed $220,000 114-char remark

    Show marketing remark (114 chars)

    Renovated w/ new windows, new roof, new appliances tenants pay all a real moneymaker!! Fully rented! Hw floors. .

17. 2003-08-22
    soldstatus $116,000
18. 2003-08-08
    soldstatus $114,500
19. 2003-05-31
    price $120,000
20. 2003-05-31
    historical
21. 2002-08-28
    listed $114,500
22. 1999-01-12
    soldstatus $33,000

ⓘ 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: $12,931 · $1,078/mo
• Projected year-2 tax: $12,931 · $1,078/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 1/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $77,928
• − Mortgage interest: −$24,535
• − Property taxes: −$12,931
• − Insurance: −$2,190
• − Repairs & maintenance: −$6,234
• − Management: −$6,234
• − Depreciation: −$12,742
• Taxable income: $13,062
• Est. tax owed @ 24.0%: −$3,135
• After-tax cash flow: $15,744/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: Newburgh City School District
• NCES district ID: 3620700
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 48% ▲ 10.00%
• Median HH income: $56,387
• Composite: 35.46/100
• National rank: #4927
• State rank: #500 of 590 in NY

Livability — Newburgh

• Score: 62/100
• State rank: #878
• US rank: #17021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newburgh, NY
• County: Orange County · 267,004 people
• City population: 55,152
• 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

+1136.4% since first listed

22 events — show timeline

• 2026-01-12 Sold (Public Records) $408,000 Public Records
• 2025-11-12 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-09-15 Price Changed $438,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-22 Listed $464,000 OneKey® MLS as Distributed by MLS Grid
• 2020-04-10 Sold (Public Records) $300,000 Public Records
• 2013-12-18 Price Changed $219,900 HGMLS
• 2008-02-14 Sold (Public Records) $204,000 Public Records
• 2005-07-28 Sold (Public Records) $289,380 Public Records
• 2005-07-18 Sold (MLS) $273,000 HGMLS
• 2005-05-13 Delisted — HGMLS
• 2005-05-13 Price Changed $282,000 HGMLS
• 2005-03-18 Listed $273,000 HGMLS
• 2005-03-15 Sold (Public Records) $220,000 Public Records
• 2005-03-03 Sold (MLS) $220,000 HGMLS
• 2005-01-31 Delisted — HGMLS
• 2004-10-18 Listed $220,000 HGMLS
• 2003-08-22 Sold (Public Records) $116,000 Public Records
• 2003-08-08 Sold (MLS) $114,500 HGMLS
• 2003-05-31 Delisted — HGMLS
• 2003-05-31 Price Changed $120,000 HGMLS
• 2002-08-28 Listed $114,500 HGMLS
• 1999-01-12 Sold (Public Records) $33,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $12,931 · -3.5% YoY. Source: county tax records.