36 Prospect St · Nyack, NY 10960

$930,000

6 bd · 5.0 ba · 2,193 sqft · MultiFamily public records · 249 Days on market

Built 1923 5,227 sqft lot $424/sqft · 18% below area Est $1484k · 37% 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 +7.7/30.0
• Schools +6.9/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 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

Prime investment opportunity in Nyack! 36 Prospect St. is a fully occupied 3-family property offering strong rental demand in a highly desirable location. The building features two 1-bedroom units and one spacious 3-bedroom unit, providing a versatile mix of rental options. Tenants enjoy walkability to vibrant downtown Nyack with its shops, dining, and nightlife, as well as easy access to the Hudson River waterfront. With a rare combination of steady occupancy and excellent location, this property presents long-term value and consistent income potential. Conveniently located near major highways and public transportation, it also offers a quick commute to NYC. A unique chance to own a turnkey multifamily in one of Rockland County’s most sought-after rental markets — don’t miss it!

Key facts

• Strong rental demand
• Excellent location
• Fully occupied

Tags

• INVESTMENT OPPORTUNITY
• FULLY OCCUPIED
• STRONG RENTAL DEMAND
• HIGHLY DESIRABLE LOCATION
• STEADY OCCUPANCY
• EXCELLENT LOCATION

What this means for you Summary

Snapshot

• This is a 2×1bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $930k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative. Per door: $-362/mo.
• To cash-flow at today's rent, offer at most $738k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $729k (21.6% below list).
• Recommended offer: $729k (21.6% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 2.5% in Nyack — 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 76/100 on livability (#231 in NY, #3,632 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, health & safety A; Watch: amenities F, cost of living F.
• Nyack Union Free School District (suburban): math 78% / reading 78% proficiency, ranked #62 of 590 in NY (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents rising fast (+6.1%/yr); 116 active listings in the ZIP; high-income renter base; 429 units permitted in Rockland County in 2024 (231 in 5+ unit buildings).
• At $7,290/mo this rent would consume 70% of the median local household income ($126k/yr) (locally 643% 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 $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Rockland County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 249 days — a 12% lower offer ($818k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $60k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $190k; list at $930k implies a 390% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $729,000 (21.6% 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 249 days. Have you received any prior offers? Is the seller open to a 22% 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 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.78% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.00%
• DSCR: 0.78
• GRM: 10.6

CMA / ARV

• ARV (median comp): $1,483,533
• List price: $930,000
• Delta: -37.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 1st Ave	0.34mi	6/2.0	2,254 (+3%)	7mo	$750,000	$333	62
100 High Ave	0.30mi	5/2.0 (-1)	2,306 (+5%)	7mo	$700,000	$304	55
27 Terrace Dr	0.38mi	5/3.0 (-1)	2,088 (-5%)	12mo	$715,000	$342	52

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 · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.25×
• Total profit: $-196,063
• Equity at exit: $138,666

10-year hold

• IRR: -8.4%
• Equity multiple: 0.40×
• Total profit: $-156,043
• Equity at exit: $80,409

Cash invested: $260,400 (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 10960

• Home prices YoY: -34.4%
• Rents YoY: 6.1%
• Active inventory: 116
• Price-to-rent: 35.8×

Monthly cashflow live

• Estimated rent: $7,290 high
• Mortgage (P&I): −$4,877
• Tax from tax record: −$1,579 /mo · $18,953/yr
• Insurance: −$388
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,531
• Net cashflow: $-1,085

Break-even live

Break-even rent $8,663

Max offer price $738,357

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$4,332
1× unit	3	1	$2,957
Total (3 units)			$7,290

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: $232,500
• Closing costs: $27,900
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-17
   price $930,000 808-char remark

   Show marketing remark (808 chars)

   Prime investment opportunity in Nyack! 36 Prospect St. is a fully occupied 3-family property offering strong rental demand in a highly desirable location. The building features two 1-bedroom units and one spacious 3-bedroom unit, providing a versatile mix of rental options. Tenants enjoy walkability to vibrant downtown Nyack with its shops, dining, and nightlife, as well as easy access to the Hudson River waterfront. With a rare combination of steady occupancy and excellent location, this property presents long-term value and consistent income potential. Conveniently located near major highways and public transportation, it also offers a quick commute to NYC. A unique chance to own a turnkey multifamily in one of Rockland County’s most sought-after rental markets — don’t miss it!

2. 2025-09-20
   listed $990,000 Active 808-char remark

   Show marketing remark (808 chars)

   Prime investment opportunity in Nyack! 36 Prospect St. is a fully occupied 3-family property offering strong rental demand in a highly desirable location. The building features two 1-bedroom units and one spacious 3-bedroom unit, providing a versatile mix of rental options. Tenants enjoy walkability to vibrant downtown Nyack with its shops, dining, and nightlife, as well as easy access to the Hudson River waterfront. With a rare combination of steady occupancy and excellent location, this property presents long-term value and consistent income potential. Conveniently located near major highways and public transportation, it also offers a quick commute to NYC. A unique chance to own a turnkey multifamily in one of Rockland County’s most sought-after rental markets — don’t miss it!

3. 2025-03-13
   historical $1,800
4. 2025-02-24
   listed $1,800
5. 1986-12-18
   soldstatus $189,900

ⓘ 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: $18,953 · $1,579/mo
• Projected year-2 tax: $18,953 · $1,579/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $87,480
• − Mortgage interest: −$52,094
• − Property taxes: −$18,953
• − Insurance: −$4,650
• − Repairs & maintenance: −$6,998
• − Management: −$6,998
• − Depreciation: −$27,055
• Taxable loss: −$29,269
• Est. tax savings @ 24.0%: +$7,025
• After-tax cash flow: $-5,994/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: Nyack Union Free School District
• NCES district ID: 3621480
• Math proficiency: 78% ▲ 8.00%
• Reading proficiency: 78% ▲ 17.00%
• Median HH income: $85,766
• Composite: 69.43/100
• National rank: #310
• State rank: #62 of 590 in NY

Livability — Nyack

• Score: 76/100
• State rank: #231
• US rank: #3632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nyack, NY
• County: Rockland County · 98,828 people
• City population: 15,251
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 15,251
• Household income: $125,789
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 643.0

Population outlook (Rockland County) Hauer SSP2

• Today (2025): 339,642 people
• By 2030: 345,987 · +1.9%
• By 2040: 357,178 · +5.2%
• By 2050: 362,456 · +6.7%
• By 2075: 367,281 · +8.1%
• By 2100: 328,211 · -3.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Black 17% Hispanic / Latino 16% Two or more races 11% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Dominican 1%
• Common ancestry: Hispanic 5% Romanian 3% Scotch-Irish 3%
• Foreign-born: 17% · Canada, Jamaica, South Korea
• Languages at home: 74% English-only · Spanish 10% French/Haitian/Cajun 5% Other Indo-European 4%

Political lean MEDSL · Rockland

• 2024 margin: R (+11.8) · D 44.1% · R 55.9%
• 2008→2024 swing: -17.7pp toward R · 2008: 5.9pp · 2024: -11.8pp
• All cycles: 2024: R+11.8 2020: D+1.7 2016: D+5.1 2012: D+6.6 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -132.35%
• Current HPI: 252.9388
• Rent YoY: ▲ 6.09%
• 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

+389.7% since first listed

5 events — show timeline

• 2026-03-17 Price Changed $930,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-20 Listed $990,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-13 Rental Removed $1,800 ONEKEY
• 2025-02-24 Listed for Rent $1,800 ONEKEY
• 1986-12-18 Sold (Public Records) $189,900 Public Records

Property tax history

+2.0%/yr

Latest (2025): $18,953 · +6.9% YoY. Source: county tax records.