28 Ely St · Coxsackie, NY 12051

$850,000

3 bd · 2.0 ba · 2,844 sqft · MultiFamily public records · 23 Days on market

Built 1800 0.70 ac lot

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.9/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to the beautiful, restored and updated masterpiece. ''The first House on the Hill'' This home was built by Doctor Ely in the Historic District of Coxsackie Riverfront. The home has been thoughtfully renovated into a single-family home that is a successful short-term vacation rental but can easily be set back up into a 2 family. As you step into the gleaming hardwood floors you soak in the natural light from your open kitchen and large dining room open to the living room. First floor also has laundry and a full bathroom with radiant floor heat. The 2nd floor has 2 full bathrooms also with radiant floor heat to keep you comfortable in the winter months. A great office space with a walk out balcony to soak in the river views. A small den with hook ups for a kitchenette if desired. Amazing location with breathtaking views of the Hudson River, Walking distance to the revitalized Reed Street Historic District, kayak at nearby Riverside Park, or hike the Four Mile Point Preserve Walking Trail. This lot not only offers views it has plenty of off-street parking with room to set up the pickleball court. Property backs up to River St. next to upscale hotel/event facility. Giving the location endless opportunities.

Key facts

• Radiant floor heat
• Office space
• Walk out balcony

Tags

• SHORT-TERM VACATION RENTAL
• RADIANT FLOOR HEAT
• OFFICE SPACE
• WALK OUT BALCONY
• RIVER VIEWS
• OFF-STREET PARKING

Property features AI

Exterior

• Parking: Driveway parking; Space for 8 vehicles
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Updated/remodeled; Stone foundation; Drywall, plaster and wood siding construction; Shingle/asphalt roof
• Construction: Stone foundation; Wood siding with drywall and plaster interiors; Shingle/asphalt roof
• Exterior features: Front porch, rear porch and additional porch area; Paved driveway; Shed(s); Riverfront views along the Hudson River; Landscaped lot

Interior

• Kitchen: Dishwasher; Microwave; Range; Range hood; Refrigerator; Water purifier; ENERGY STAR qualified appliances; Tankless water heater
• Bedrooms: Three bedrooms on the second floor
• Flooring: Tile; Carpet; Cork; Hardwood
• Bathrooms: Three full bathrooms (one on the first floor, two on the second floor)
• Heating & cooling: Forced air; Hot water; Natural gas; Radiant heating including radiant floor; Central air conditioning
• Interior features: High-speed internet; Walk-in closets; Ceramic tile baths; Screens on windows; 10 total rooms
• Laundry & utility: Washer and dryer included; Main-level laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $850k.

Deal economics

• At list price, monthly cash flow is $-4k ($-42k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (73.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (72.2% below list).
• Recommended offer: $224k (73.6% below list) — sets the bar for cash-flow.
• Cap rate 1.3% vs local median 3.2% in Coxsackie — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 73/100 on livability (#310 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities F, commute F.
• Coxsackie-Athens Central School District (town): math 43% / reading 56% proficiency, ranked #384 of 590 in NY (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 48 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $91k of equity ($6k loan paydown + $85k appreciation (10.0% local appreciation)).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$146k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($837k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 $439k; list at $850k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $224,442 (73.6% 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. Built in 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.28% ✗
• Cap rate: 1.29%
• Cash-on-cash: -17.85%
• DSCR: 0.21
• GRM: 30.0

CMA / ARV

• ARV (on-the-fly): $221,832
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
71 Church St	0.22mi	3/2.0	3,146 (+11%)	21mo	$245,000	$78	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 2.00×
• Total profit: $237,143
• Equity at exit: $765,747

10-year hold

• IRR: 12.6%
• Equity multiple: 4.68×
• Total profit: $875,207
• Equity at exit: $1,651,363

Cash invested: $238,000 (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 12051

• Home prices YoY: 17.7%
• Active inventory: 48
• Price-to-rent: 30.0×

Monthly cashflow live

• Estimated rent: $2,361 medium
• Mortgage (P&I): −$4,457
• Tax from tax record: −$594 /mo · $7,131/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$496
• Net cashflow: $-3,541

Break-even live

Break-even rent $6,843

Max offer price $224,442

Occupancy floor —

Sensitivity live

Price	-10% $-3,060	-5% $-3,301	+0% $-3,541	+5% $-3,782	+10% $-4,022
Rent	-10% $-3,728	-5% $-3,634	+0% $-3,541	+5% $-3,448	+10% $-3,355
Rate	-1.0pp $-3,113	-0.5pp $-3,325	base $-3,541	+0.5pp $-3,761	+1.0pp $-3,985

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $850,000 Active 23 DOM
2. 2026-06-17
   days on market $850,000 Active 22 DOM
3. 2026-06-16
   days on market $850,000 Active 21 DOM
4. 2026-06-15
   days on market $850,000 Active 20 DOM
5. 2026-06-14
   days on market $850,000 Active 18 DOM
6. 2026-06-13
   days on market $850,000 Active 17 DOM
7. 2026-06-10
   days on market $850,000 Active 15 DOM
8. 2026-06-09
   days on market $850,000 Active 14 DOM
9. 2026-06-08
   days on market $850,000 Active 13 DOM
10. 2026-06-07
    days on market $850,000 Active 12 DOM
11. 2026-06-05
    days on market $850,000 Active 9 DOM
12. 2026-06-03
    days on market $850,000 Active 8 DOM
13. 2026-06-02
    days on market $850,000 Active 7 DOM
14. 2026-06-01
    days on market $850,000 Active 6 DOM
15. 2026-05-31
    days on market $850,000 Active 5 DOM
16. 2026-05-31
    days on market $850,000 Active 4 DOM
17. 2026-05-26
    listed $850,000 Active 1230-char remark

    Show marketing remark (1230 chars)

    Welcome to the beautiful, restored and updated masterpiece. ''The first House on the Hill'' This home was built by Doctor Ely in the Historic District of Coxsackie Riverfront. The home has been thoughtfully renovated into a single-family home that is a successful short-term vacation rental but can easily be set back up into a 2 family. As you step into the gleaming hardwood floors you soak in the natural light from your open kitchen and large dining room open to the living room. First floor also has laundry and a full bathroom with radiant floor heat. The 2nd floor has 2 full bathrooms also with radiant floor heat to keep you comfortable in the winter months. A great office space with a walk out balcony to soak in the river views. A small den with hook ups for a kitchenette if desired. Amazing location with breathtaking views of the Hudson River, Walking distance to the revitalized Reed Street Historic District, kayak at nearby Riverside Park, or hike the Four Mile Point Preserve Walking Trail. This lot not only offers views it has plenty of off-street parking with room to set up the pickleball court. Property backs up to River St. next to upscale hotel/event facility. Giving the location endless opportunities.

18. 2026-05-26
    listed $850,000 Active

    Show marketing remark (1230 chars)

    Welcome to the beautiful, restored and updated masterpiece. ''The first House on the Hill'' This home was built by Doctor Ely in the Historic District of Coxsackie Riverfront. The home has been thoughtfully renovated into a single-family home that is a successful short-term vacation rental but can easily be set back up into a 2 family. As you step into the gleaming hardwood floors you soak in the natural light from your open kitchen and large dining room open to the living room. First floor also has laundry and a full bathroom with radiant floor heat. The 2nd floor has 2 full bathrooms also with radiant floor heat to keep you comfortable in the winter months. A great office space with a walk out balcony to soak in the river views. A small den with hook ups for a kitchenette if desired. Amazing location with breathtaking views of the Hudson River, Walking distance to the revitalized Reed Street Historic District, kayak at nearby Riverside Park, or hike the Four Mile Point Preserve Walking Trail. This lot not only offers views it has plenty of off-street parking with room to set up the pickleball court. Property backs up to River St. next to upscale hotel/event facility. Giving the location endless opportunities.

19. 2022-05-13
    historical
20. 2022-05-13
    soldstatus $439,000
21. 2022-05-11
    soldstatus $439,000 Closed
22. 2022-05-11
    soldstatus $439,000
23. 2022-02-15
    status Pending
24. 2022-01-18
    listed $449,000 Active
25. 2022-01-18
    listed $449,000
26. 2017-11-29
    listed $325,000
27. 2009-12-31
    historical
28. 2009-07-01
    listed $278,000
29. 2009-02-06
    historical
30. 2008-08-06
    listed $350,000

ⓘ 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: $7,131 · $594/mo
• Projected year-2 tax: $10,748 · $896/mo
• Expected delta: +$3,617/yr (+$301/mo · 50.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,326
• − Mortgage interest: −$47,613
• − Property taxes: −$7,131
• − Insurance: −$4,250
• − Repairs & maintenance: −$2,266
• − Management: −$2,266
• − Depreciation: −$24,727
• Taxable loss: −$59,928
• Est. tax savings @ 24.0%: +$14,383
• After-tax cash flow: $-28,111/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: Coxsackie-Athens Central School District
• NCES district ID: 3608490
• Math proficiency: 43% ▼ -1.00%
• Reading proficiency: 56% ▲ 19.00%
• Median HH income: $55,006
• Composite: 42.8/100
• National rank: #3143
• State rank: #384 of 590 in NY

Livability — Coxsackie

• Score: 73/100
• State rank: #310
• US rank: #5149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coxsackie, NY
• Population (ZIP): 5,706

Population outlook (Greene County) Hauer SSP2

• Today (2025): 44,963 people
• By 2030: 43,126 · -4.1%
• By 2040: 38,756 · -13.8%
• By 2050: 34,913 · -22.4%
• By 2075: 28,156 · -37.4%
• By 2100: 22,296 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 19% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 2%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Greene

• 2024 margin: R (+17.0) · D 41.5% · R 58.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -9.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+15.6 2016: R+27.4 2012: R+11.1 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 55.86%
• Current HPI: 371.238
• 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

+142.9% since first listed

14 events — show timeline

• 2026-05-26 Listed $850,000 HVCRMLS
• 2026-05-26 Listed $850,000 Global MLS
• 2022-05-13 Listing Removed — Global MLS
• 2022-05-13 Sold (Public Records) $439,000 Public Records
• 2022-05-11 Sold (MLS) $439,000 HVCRMLS
• 2022-05-11 Sold (MLS) $439,000 Global MLS
• 2022-02-15 Pending — Global MLS
• 2022-01-18 Listed $449,000 HVCRMLS
• 2022-01-18 Listed $449,000 Global MLS
• 2017-11-29 Listed $325,000 HVCRMLS
• 2009-12-31 Listing Removed — Global MLS
• 2009-07-01 Listed $278,000 Global MLS
• 2009-02-06 Listing Removed — Global MLS
• 2008-08-06 Listed $350,000 Global MLS

Property tax history

+2.0%/yr

Latest (2025): $7,131 · +1.2% YoY. Source: county tax records.