22 E Parmenter St · Newburgh, NY 12550

$399,000

3 bd · 2.0 ba · 1,716 sqft · MultiFamily public records · 28 Days on market

Built 1890 5,000 sqft lot $233/sqft · 24% below area Est $525k · 24% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.4/30.0
• 1% rule +4.4/10.0
• DSCR +4.0/10.0
• 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: 2 units. confirmed

Listing remarks

2 FAMILY FOR SALE - CITY OF NEWBURGH - JUST OFF LIBERTY STREET BY GEORGE WASHINGTON'S HEADQUARTERS IN THE HISTORIC DISTRICT WITH PARKING. .. Investment or owner occupant with income. .. Check out this historic two-unit apartment building just around the corner from City of Newburgh main drag. .. Ground level approximately 600' sq. ft. is one bedroom apartment with easy access from the front and back. Upstairs is a sunny, 2-level apartment with kitchen, living room and dining room on one level then next level has 2 plus bedrooms with bathrooms with tub . Light and bright, contemporary spaces with renovations. Super location and off street parking included. Newer look with separate utilities

Key facts

• Separate utilities
• Off street parking
• Historic district

Tags

• HISTORIC DISTRICT
• TWO UNIT APARTMENT BUILDING
• OFF STREET PARKING
• SEPARATE UTILITIES
• WALKING DISTANCE TO SERVICES

What this means for you Summary

Snapshot

• This is a 1×1bd/1ba + 1×2bd/1ba units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $-49 ($-592/yr) — negative. Per door: $-25/mo.
• To cash-flow at today's rent, offer at most $390k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $374k (6.2% below list).
• Recommended offer: $374k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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+, schools D, crime 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.
• Market conditions: Rents flat; 383 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).
• At $3,744/mo this rent would consume 52% 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 $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y 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 $75k; list at $399k implies a 432% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $374,400 (6.2% 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. 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
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: 0.94% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• GRM: 8.9

CMA / ARV

• ARV (median comp): $525,344
• List price: $399,000
• Delta: -24.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 E Parmenter St	0.00mi	3/2.0	1,716 (0%)	8mo	$349,000	$203	93
59 Liberty St	0.09mi	3/2.0	1,724 (+0%)	14mo	$328,720	$191	84
31 Spring St	0.06mi	3/2.0	1,742 (+2%)	18mo	$270,000	$155	80
14 S Miller St	0.23mi	3/2.0	1,752 (+2%)	9mo	$260,000	$148	78
37 Lutheran St	0.39mi	3/2.0	1,666 (-3%)	3mo	$262,500	$158	74
62 Clark St	0.17mi	3/2.0	1,600 (-7%)	16mo	$263,682	$165	67
113 First St	0.30mi	4/2.0 (+1)	1,800 (+5%)	7mo	$295,000	$164	67
121 William St	0.29mi	4/2.0 (+1)	1,840 (+7%)	5mo	$449,900	$245	66
87 Benkard Ave	0.25mi	4/2.0 (+1)	1,762 (+3%)	18mo	$400,000	$227	64
30 Overlook Pl	0.33mi	4/2.0 (+1)	1,940 (+13%)	10mo	$390,000	$201	50
61 Hasbrouck St	0.37mi	4/2.0 (+1)	1,868 (+9%)	20mo	$270,000	$145	47
374 1st St	0.72mi	4/2.0 (+1)	1,656 (-4%)	19mo	$270,000	$163	40

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: -20.1%
• Equity multiple: 0.32×
• Total profit: $-76,307
• Equity at exit: $59,492

10-year hold

• IRR: -19.8%
• Equity multiple: 0.07×
• Total profit: $-103,767
• Equity at exit: $34,498

Cash invested: $111,720 (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: 18.3×

Monthly cashflow live

• Estimated rent: $3,744 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$693 /mo · $8,314/yr
• Insurance: −$166
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$786
• Net cashflow: $-49

Break-even live

Break-even rent $3,806

Max offer price $390,290

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,817
1× unit	2	1	$1,928
Total (2 units)			$3,744

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Grand St Unit 3 Newburgh, NY	4.0	2.0	1560	$3,925	$2.52	23d	1	0.12mi
22 Benkard Ave Unit 1 Newburgh, NY	3.0	1.0	1075	$1,750	$1.63	43d	1	0.17mi
28 Hasbrouck St Newburgh, NY	3.0	1.5	1188	$2,700	$2.27	43d	1	0.28mi
57 Lander St Unit B Newburgh, NY	2.0	1.5	1100	$1,900	$1.73	43d	1	0.32mi
177 W Parmenter St Unit 1 Newburgh, NY	2.0	1.0	1100	$1,700	$1.55	23d	1	0.39mi
196 Carson Ave Newburgh, NY	2.0	1.0	1188	$2,200	$1.85	43d	1	0.44mi
81 Liberty Street Washington Hts Unit 2 Newburgh, NY	3.0	1.0	1362	$2,950	$2.17	43d	1	0.47mi
160 N Miller St #1 Newburgh, NY	4.0	1.0	1600	$2,500	$1.56	43d	1	0.59mi
193 South St Unit 2 Newburgh, NY	3.0	1.5	1200	$2,415	$2.01	13d	1	0.62mi
457 1st St Newburgh, NY	3.0	1.0	1680	$2,950	$1.76	43d	1	0.91mi
317 Grand St Unit 1-1 Newburgh, NY	2.0	2.0	1400	$2,200	$1.57	13d	1	0.91mi
171 West St Newburgh, NY	3.0	1.5	1299	$2,800	$2.16	23d	1	1.16mi
109 Myrtle Ave New Windsor, NY	2.0	1.0	1079	$2,200	$2.04	43d	1	1.20mi
4 Riverview Ave Unit 1 New Windsor, NY	2.0	2.5	1992	$1,850	$0.93	13d	1	1.43mi

Listing history 22 events

1. 2026-06-07
   statusdays on market $399,000 Pending 28 DOM
2. 2026-04-13
   listed $399,000 Active
3. 2025-08-19
   historical
4. 2025-07-17
   listed $349,000 Active
5. 2025-07-01
   historical
6. 2025-04-28
   price $349,000
7. 2025-02-15
   listed $369,000 Active
8. 2014-11-18
   soldstatus $75,000
9. 2014-09-25
   price $75,000
10. 2014-09-25
    soldstatus $75,000 Sold
11. 2014-09-25
    soldstatus $75,000
12. 2014-08-27
    historical Pending
13. 2014-08-26
    price $80,000
14. 2014-04-05
    listed $80,000 Active
15. 2014-04-04
    listed $80,000
16. 2003-09-02
    soldstatus $81,600
17. 2003-02-07
    soldstatus $85,000
18. 2002-11-22
    historical
19. 2002-06-12
    listed $85,000
20. 1989-03-02
    soldstatus $140,000
21. 1988-03-14
    soldstatus $20,000
22. 1988-03-14
    soldstatus $10,000

ⓘ 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: $8,314 · $693/mo
• Projected year-2 tax: $8,314 · $693/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 8/10 Severe FEMA zone X (unshaded) · 99% 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 12% 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: $44,928
• − Mortgage interest: −$22,350
• − Property taxes: −$8,314
• − Insurance: −$2,662
• − Repairs & maintenance: −$3,594
• − Management: −$3,594
• − Depreciation: −$11,607
• Taxable loss: −$7,194
• Est. tax savings @ 24.0%: +$1,727
• After-tax cash flow: $1,135/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

+1895.0% since first listed

21 events — show timeline

• 2026-04-13 Listed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-19 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-17 Listed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-04-28 Price Changed $349,000 OneKey® MLS as Distributed by MLS Grid
• 2025-02-15 Listed $369,000 OneKey® MLS as Distributed by MLS Grid
• 2014-11-18 Sold (Public Records) $75,000 Public Records
• 2014-09-25 Sold (MLS) $75,000 HGMLS
• 2014-09-25 Price Changed $75,000 HGMLS
• 2014-09-25 Sold (MLS) $75,000 OneKey® MLS as Distributed by MLS Grid
• 2014-08-27 Contingent — HGMLS
• 2014-08-26 Price Changed $80,000 HGMLS
• 2014-04-05 Listed $80,000 HGMLS
• 2014-04-04 Listed $80,000 OneKey® MLS as Distributed by MLS Grid
• 2003-09-02 Sold (Public Records) $81,600 Public Records
• 2003-02-07 Sold (MLS) $85,000 HGMLS
• 2002-11-22 Delisted — HGMLS
• 2002-06-12 Listed $85,000 HGMLS
• 1989-03-02 Sold (Public Records) $140,000 Public Records
• 1988-03-14 Sold (Public Records) $10,000 Public Records
• 1988-03-14 Sold (Public Records) $20,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $8,314 · -3.5% YoY. Source: county tax records.