65 N Clinton St · Poughkeepsie, NY 12601

$379,000

5 bd · 2.0 ba · 2,338 sqft · MultiFamily public records · 10 Days on market

Built 1920 5,227 sqft lot Est $423k · 10% under

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Why this score? — see what drove the C 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 +19.6/30.0
• ARV discount +12.2/15.0
• 1% rule +6.3/10.0
• DSCR +6.2/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• 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

Welcome to 65 North Clinton Street, Poughkeepsie, NY – a well-maintained and fully vacant two-family property offering exceptional flexibility for investors and owner-occupants alike. This turnkey income-producing opportunity features two separate units, including a one-bedroom, one-bath apartment and a two-bedroom, one-bath apartment, both ready for immediate occupancy or rental. With both units delivered vacant, buyers have the rare opportunity to set market rents from day one or comfortably occupy one unit while generating income from the other. Adding to the property’s potential is a partially completed third-floor apartment. While not currently legalized, the space offers e

Key facts

• Two separate units
• Two family property
• 5,227 sq ft lot

Tags

• TWO FAMILY PROPERTY
• TWO SEPARATE UNITS
• CONVENIENT ACCESS TO SCHOOLS
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING
• IMMEDIATE INCOME POTENTIAL

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected
• Home design: Duplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: Eat-in kitchen (appliances not specified)
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Oil heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Original details
• Laundry & utility: Unfinished basement (utility/storage space)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $379k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive. Per door: $219/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $379k).
• Cap rate 7.7% vs local median 3.4% in Poughkeepsie — 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 78/100 on livability (#165 in NY, #2,577 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: employment D+, crime F.
• Poughkeepsie City School District (suburban): math 29% / reading 42% proficiency, ranked #559 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: G W Krieger School (math 12% / reading 32%, grade F, #1,923 of 2,108 statewide, top 92%, 460 students, 78% FRL); Poughkeepsie Middle School (math 8% / reading 37%, grade F, #650 of 729 statewide, top 90%, 877 students, 82% FRL); Poughkeepsie High School (math 59% / reading 67%, grade B-, #819 of 1,100 statewide, top 74%, 1,165 students, 74% FRL).
• Market conditions: Rents rising (+3.7%/yr); 189 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $4,281/mo this rent would consume 81% of the median local household income ($64k/yr) (locally 2891% 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 $11k of value loss. Plan a longer hold.
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 13y 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 $169k; list at $379k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $379,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.13% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.95%
• DSCR: 1.22
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $423,178
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 Mansion St	0.07mi	4/2.0 (-1)	2,200 (-6%)	3mo	$465,000	$211	80
236 Mansion St	0.09mi	6/2.0 (+1)	2,100 (-10%)	7mo	$444,500	$212	68
2-4 Elm Pl	0.26mi	4/4.0 (-1)	2,309 (-1%)	6mo	$357,000	$155	67
164 Winnikee Ave	0.37mi	4/2.0 (-1)	2,296 (-2%)	10mo	$355,000	$155	67
32 Balding Ave	0.39mi	4/2.0 (-1)	2,452 (+5%)	5mo	$405,000	$165	65
13 Grand St	0.63mi	5/3.0	2,400 (+3%)	6mo	$489,250	$204	57
328 Church St	0.57mi	5/2.0	2,473 (+6%)	8mo	$340,000	$137	57
1 Gray St	0.65mi	6/2.0 (+1)	2,452 (+5%)	4mo	$349,000	$142	53
30 S White St	0.62mi	5/2.0	2,100 (-10%)	8mo	$380,000	$181	48
11 Forbus St	0.72mi	4/2.0 (-1)	2,464 (+5%)	11mo	$448,500	$182	43
190 Union St	0.66mi	4/2.0 (-1)	2,080 (-11%)	5mo	$425,000	$204	41
7 Fox Ter	0.61mi	6/2.0 (+1)	2,000 (-14%)	10mo	$350,000	$175	34

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-30,379
• Equity at exit: $56,510

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $22,588
• Equity at exit: $32,769

Cash invested: $106,120 (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 12601

• Rents YoY: 3.7%
• Active inventory: 189
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $4,281 high
• Mortgage (P&I): −$1,988
• Tax from tax record: −$799 /mo · $9,588/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$899
• Net cashflow: $438

Break-even live

Break-even rent $3,727

Max offer price $379,000

Occupancy floor 85%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,280
Total (2 units)			$4,281

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 S Cherry St Unit 2 Poughkeepsie, NY	4.0	1.5	3100	$2,950	$0.95	14d	1	0.91mi

Listing history 8 events

1. 2026-06-18
   days on market $379,000 Active 10 DOM
2. 2026-06-17
   days on market $379,000 Active 9 DOM
3. 2026-06-16
   days on market $379,000 Active 8 DOM
4. 2026-06-15
   days on market $379,000 Active 7 DOM
5. 2026-06-14
   days on market $379,000 Active 5 DOM
6. 2026-06-10
   days on market $379,000 Active 2 DOM
7. 2026-06-09
   remarks 687-char remark
8. 2026-06-09
   listed $379,000 Active 1 DOM

ⓘ 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: $9,588 · $799/mo
• Projected year-2 tax: $9,588 · $799/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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,372
• − Mortgage interest: −$21,230
• − Property taxes: −$9,588
• − Insurance: −$1,895
• − Repairs & maintenance: −$4,110
• − Management: −$4,110
• − Depreciation: −$11,025
• Taxable loss: −$586
• Est. tax savings @ 24.0%: +$141
• After-tax cash flow: $5,391/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: Poughkeepsie City School District
• NCES district ID: 3623760
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 42% ▲ 12.00%
• Median HH income: $39,159
• Composite: 29.68/100
• National rank: #6459
• State rank: #559 of 590 in NY

Livability — Poughkeepsie

• Score: 78/100
• State rank: #165
• US rank: #2577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poughkeepsie, NY
• County: Dutchess County · 188,048 people
• City population: 86,468
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 44,164
• Household income: $63,652
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 2891.0

Population outlook (Dutchess County) Hauer SSP2

• Today (2025): 291,768 people
• By 2030: 287,131 · -1.6%
• By 2040: 274,881 · -5.8%
• By 2050: 259,971 · -10.9%
• By 2075: 235,366 · -19.3%
• By 2100: 208,786 · -28.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 17% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 79% English-only · Spanish 15% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Dutchess

• 2024 margin: Lean D (+5.4) · D 52.7% · R 47.3%
• 2008→2024 swing: -3.2pp toward R · 2008: 8.6pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+9.6 2016: R+1.1 2012: D+6.6 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.62%
• Current HPI: 293.9789
• Rent YoY: ▲ 3.67%
• 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

+123.7% since first listed

11 events — show timeline

• 2026-06-08 Listed $379,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-04 Rental Removed $1,850 ONEKEY
• 2025-10-08 Listed for Rent $1,900 ONEKEY
• 2025-10-01 Rental Removed $1,900 ONEKEY
• 2025-09-28 Price Changed $1,900 ONEKEY
• 2025-07-20 Listed for Rent $1,800 ONEKEY
• 2024-02-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2013-01-18 Listed $200,288 OneKey® MLS as Distributed by MLS Grid
• 2013-01-14 Listed $200,288 OneKey® MLS as Distributed by MLS Grid
• 2005-04-21 Sold (Public Records) $169,388 Public Records

Property tax history

+4.8%/yr

Latest (2025): $9,588 · +54.3% YoY. Source: county tax records.