25 S Prospect St · Kingston, NY 12401

$399,999

3 bd · 2.0 ba · 1,344 sqft · MultiFamily public records · 28 Days on market

Built 1900 3,000 sqft lot Est $290k · 38% over

---

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).

• Cash flow +12.4/30.0
• Rent growth +4.5/5.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• 1% rule +3.7/10.0
• DSCR +3.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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 MLS

Income-producing multi-family opportunity in the heart of Kingston, New York. 25 South Prospect Street is a well-maintained 2-family property offering investors or owner-occupants a strong opportunity in Ulster County's active rental market. Unit Breakdown: • Unit 1 -- 2 Bedrooms | 1 Full Bath -- Fixed-Term Lease • Unit 2 -- 1 Bedroom | 1 Full Bath -- Month-to-Month Tenancy With one unit secured on a fixed-term lease and the second operating on a month-to-month basis, the property offers a balance of current occupancy and future flexibility for investment or personal use, subject to applicable lease terms and local regulations. Exterior features include a fully fenced backyard, private deck, storage shed, private driveway, and additional street parking availability. Basement washer and dryer hookups add convenience for occupants. Located on South Prospect Street in Kingston, New York, within the Kingston City School District, the property provides convenient access to Uptown Kingston, local restaurants, shops, arts and cultural destinations, the Rondout Waterfront, Rhinecliff Amtrak Station, and the NYS Thruway (I-87). With existing occupancy, flexible living arrangements, and a location in one of the Hudson Valley's most active markets, this property presents an excellent opportunity for investors or owner-occupants alike. All information is deemed reliable but not guaranteed. Buyers are encouraged to independently verify all financials, leases, zoning, square footage, and property details.

Key facts

• 3,000 sq ft lot
• Built 1900
• Listed 27 days

Property features AI

Exterior

• Parking: Driveway; On-street parking
• Utilities: Public sewer; Electricity connected
• Home design: Duplex
• Construction: Vinyl siding construction; Partial basement; Attic with scuttle access
• Exterior features: Vinyl siding; Back yard fencing; Shed(s)

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heating; Oil heating; Steam heating; No central cooling
• Interior features: Eat-in kitchen; Washer/dryer hookup; Covered porch, deck, patio
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $-63 ($-757/yr) — negative. Per door: $-32/mo.
• To cash-flow at today's rent, offer at most $389k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $349k (12.8% below list).
• Recommended offer: $349k (12.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.0% in Kingston — 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 82/100 on livability (#74 in NY, #1,143 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime C-.
• Kingston City School District (urban): math 44% / reading 59% proficiency, ranked #355 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Harry L Edson School (math 32% / reading 32%, grade F, #1,646 of 2,108 statewide, top 80%, 418 students, 55% FRL); J Watson Bailey Middle School (math 22% / reading 48%, grade F, #480 of 729 statewide, top 66%, 968 students, 53% FRL); Kingston High School (math 94% / reading 91%, grade A+, #153 of 1,100 statewide, top 14%, 1,856 students, 85% FRL) — zoned schools average 64% FRL vs 45% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.8%/yr); 225 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).
• At $3,486/mo this rent would consume 60% of the median local household income ($69k/yr) (locally 2045% 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.
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $268k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $348,600 (12.8% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $290,304
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Oneil St	0.34mi	3/2.0	1,431 (+6%)	17mo	$295,000	$206	59
62 Prospect St	0.23mi	4/2.0 (+1)	1,522 (+13%)	7mo	$329,000	$216	56

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 · 7.81% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.54×
• Total profit: $-51,063
• Equity at exit: $59,641

10-year hold

• IRR: 3.1%
• Equity multiple: 1.28×
• Total profit: $30,894
• Equity at exit: $34,585

Cash invested: $112,000 (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 12401

• Rents YoY: 7.8%
• Active inventory: 225
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $3,486 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$553 /mo · $6,633/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$732
• Net cashflow: $-63

Break-even live

Break-even rent $3,566

Max offer price $388,849

Occupancy floor 97%

Sensitivity live

Price	-10% $163	-5% $50	+0% $-63	+5% $-176	+10% $-290
Rent	-10% $-339	-5% $-201	+0% $-63	+5% $75	+10% $212
Rate	-1.0pp $138	-0.5pp $39	base $-63	+0.5pp $-167	+1.0pp $-272

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,847
1× unit	1	1	$1,638
Total (2 units)			$3,486

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
180 W Chestnut St Kingston, NY	1.0–2.0	1.0–2.0	875	$2,000	$2.29	24d	3	0.88mi
111 Hudson Valley Lndg Kingston, NY	2.0	1.0	900	$2,305	$2.56	14d	5	1.43mi

Listing history 30 events

1. 2026-06-19
   days on market $399,999 Active 28 DOM
2. 2026-06-18
   days on market $399,999 Active 27 DOM
3. 2026-06-17
   days on market $399,999 Active 26 DOM
4. 2026-06-16
   days on market $399,999 Active 25 DOM
5. 2026-06-15
   days on market $399,999 Active 24 DOM
6. 2026-06-14
   days on market $399,999 Active 22 DOM
7. 2026-06-12
   days on market $399,999 Active 21 DOM
8. 2026-06-09
   days on market $399,999 Active 18 DOM
9. 2026-06-08
   days on market $399,999 Active 17 DOM
10. 2026-06-07
    days on market $399,999 Active 16 DOM
11. 2026-06-03
    days on market $399,999 Active 12 DOM
12. 2026-06-02
    days on market $399,999 Active 11 DOM
13. 2026-06-01
    days on market $399,999 Active 10 DOM
14. 2026-05-31
    days on market $399,999 Active 9 DOM
15. 2026-05-30
    days on market $399,999 Active 8 DOM
16. 2026-05-23
    listed $399,999 Active 1531-char remark

    Show marketing remark (1531 chars)

    Income-producing multi-family opportunity in the heart of Kingston, New York. 25 South Prospect Street is a well-maintained 2-family property offering investors or owner-occupants a strong opportunity in Ulster County's active rental market. Unit Breakdown: • Unit 1 -- 2 Bedrooms | 1 Full Bath -- Fixed-Term Lease • Unit 2 -- 1 Bedroom | 1 Full Bath -- Month-to-Month Tenancy With one unit secured on a fixed-term lease and the second operating on a month-to-month basis, the property offers a balance of current occupancy and future flexibility for investment or personal use, subject to applicable lease terms and local regulations. Exterior features include a fully fenced backyard, private deck, storage shed, private driveway, and additional street parking availability. Basement washer and dryer hookups add convenience for occupants. Located on South Prospect Street in Kingston, New York, within the Kingston City School District, the property provides convenient access to Uptown Kingston, local restaurants, shops, arts and cultural destinations, the Rondout Waterfront, Rhinecliff Amtrak Station, and the NYS Thruway (I-87). With existing occupancy, flexible living arrangements, and a location in one of the Hudson Valley's most active markets, this property presents an excellent opportunity for investors or owner-occupants alike. All information is deemed reliable but not guaranteed. Buyers are encouraged to independently verify all financials, leases, zoning, square footage, and property details.

17. 2026-05-23
    listed $399,999 Active

    Show marketing remark (1531 chars)

    Income-producing multi-family opportunity in the heart of Kingston, New York. 25 South Prospect Street is a well-maintained 2-family property offering investors or owner-occupants a strong opportunity in Ulster County's active rental market. Unit Breakdown: • Unit 1 -- 2 Bedrooms | 1 Full Bath -- Fixed-Term Lease • Unit 2 -- 1 Bedroom | 1 Full Bath -- Month-to-Month Tenancy With one unit secured on a fixed-term lease and the second operating on a month-to-month basis, the property offers a balance of current occupancy and future flexibility for investment or personal use, subject to applicable lease terms and local regulations. Exterior features include a fully fenced backyard, private deck, storage shed, private driveway, and additional street parking availability. Basement washer and dryer hookups add convenience for occupants. Located on South Prospect Street in Kingston, New York, within the Kingston City School District, the property provides convenient access to Uptown Kingston, local restaurants, shops, arts and cultural destinations, the Rondout Waterfront, Rhinecliff Amtrak Station, and the NYS Thruway (I-87). With existing occupancy, flexible living arrangements, and a location in one of the Hudson Valley's most active markets, this property presents an excellent opportunity for investors or owner-occupants alike. All information is deemed reliable but not guaranteed. Buyers are encouraged to independently verify all financials, leases, zoning, square footage, and property details.

18. 2026-05-09
    historical $399,999 1531-char remark

    Show marketing remark (1531 chars)

    Income-producing multi-family opportunity in the heart of Kingston, New York. 25 South Prospect Street is a well-maintained 2-family property offering investors or owner-occupants a strong opportunity in Ulster County's active rental market. Unit Breakdown: • Unit 1 -- 2 Bedrooms | 1 Full Bath -- Fixed-Term Lease • Unit 2 -- 1 Bedroom | 1 Full Bath -- Month-to-Month Tenancy With one unit secured on a fixed-term lease and the second operating on a month-to-month basis, the property offers a balance of current occupancy and future flexibility for investment or personal use, subject to applicable lease terms and local regulations. Exterior features include a fully fenced backyard, private deck, storage shed, private driveway, and additional street parking availability. Basement washer and dryer hookups add convenience for occupants. Located on South Prospect Street in Kingston, New York, within the Kingston City School District, the property provides convenient access to Uptown Kingston, local restaurants, shops, arts and cultural destinations, the Rondout Waterfront, Rhinecliff Amtrak Station, and the NYS Thruway (I-87). With existing occupancy, flexible living arrangements, and a location in one of the Hudson Valley's most active markets, this property presents an excellent opportunity for investors or owner-occupants alike. All information is deemed reliable but not guaranteed. Buyers are encouraged to independently verify all financials, leases, zoning, square footage, and property details.

19. 2026-05-09
    historical $399,999

    Show marketing remark (1531 chars)

    Income-producing multi-family opportunity in the heart of Kingston, New York. 25 South Prospect Street is a well-maintained 2-family property offering investors or owner-occupants a strong opportunity in Ulster County's active rental market. Unit Breakdown: • Unit 1 -- 2 Bedrooms | 1 Full Bath -- Fixed-Term Lease • Unit 2 -- 1 Bedroom | 1 Full Bath -- Month-to-Month Tenancy With one unit secured on a fixed-term lease and the second operating on a month-to-month basis, the property offers a balance of current occupancy and future flexibility for investment or personal use, subject to applicable lease terms and local regulations. Exterior features include a fully fenced backyard, private deck, storage shed, private driveway, and additional street parking availability. Basement washer and dryer hookups add convenience for occupants. Located on South Prospect Street in Kingston, New York, within the Kingston City School District, the property provides convenient access to Uptown Kingston, local restaurants, shops, arts and cultural destinations, the Rondout Waterfront, Rhinecliff Amtrak Station, and the NYS Thruway (I-87). With existing occupancy, flexible living arrangements, and a location in one of the Hudson Valley's most active markets, this property presents an excellent opportunity for investors or owner-occupants alike. All information is deemed reliable but not guaranteed. Buyers are encouraged to independently verify all financials, leases, zoning, square footage, and property details.

20. 2025-10-30
    price $375,000
21. 2025-10-20
    price $385,000
22. 2025-08-19
    listed $399,000 Active
23. 2024-04-19
    soldstatus $267,500 Closed
24. 2024-03-11
    status Pending (Fully Executed Contract)
25. 2024-02-08
    status Pending (Continue To Show)
26. 2023-10-11
    listed $295,000 Active
27. 2013-05-01
    listed $126,500
28. 2005-09-19
    soldstatus $130,000
29. 2005-09-12
    soldstatus $130,000
30. 2005-07-07
    listed $129,900

ⓘ 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: $6,633 · $553/mo
• Projected year-2 tax: $6,697 · $558/mo
• Expected delta: +$63/yr (+$5/mo · 1.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥100°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,832
• − Mortgage interest: −$22,406
• − Property taxes: −$6,633
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,347
• − Management: −$3,347
• − Depreciation: −$11,636
• Taxable loss: −$7,537
• Est. tax savings @ 24.0%: +$1,809
• After-tax cash flow: $1,051/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: Kingston City School District
• NCES district ID: 3616290
• Math proficiency: 44% ▲ 1.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $52,586
• Composite: 44.22/100
• National rank: #2849
• State rank: #355 of 590 in NY

Livability — Kingston

• Score: 82/100
• State rank: #74
• US rank: #1143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kingston, NY
• County: Ulster County · 56,183 people
• City population: 35,136
• Metro: Kingston, NY
• Population (ZIP): 35,136
• Household income: $69,305
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 2045.0

Population outlook (Ulster County) Hauer SSP2

• Today (2025): 175,887 people
• By 2030: 171,876 · -2.3%
• By 2040: 161,771 · -8.0%
• By 2050: 151,470 · -13.9%
• By 2075: 133,023 · -24.4%
• By 2100: 113,504 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 14% Black 11% Two or more races 10% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Ulster

• 2024 margin: D (+18.7) · D 59.3% · R 40.7%
• 2008→2024 swing: -4.9pp toward R · 2008: 23.6pp · 2024: 18.7pp
• All cycles: 2024: D+18.7 2020: D+20.9 2016: D+9.1 2012: D+21.9 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -262.90%
• Current HPI: 369.1984
• Rent YoY: ▲ 7.81%
• Metro: Kingston, 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

+207.9% since first listed

15 events — show timeline

• 2026-05-23 Listed $399,999 HVCRMLS
• 2026-05-23 Listed $399,999 OneKey® MLS as Distributed by MLS Grid
• 2026-05-09 Coming Soon $399,999 HVCRMLS
• 2026-05-09 Coming Soon $399,999 OneKey® MLS as Distributed by MLS Grid
• 2025-10-30 Price Changed $375,000 HVCRMLS
• 2025-10-20 Price Changed $385,000 HVCRMLS
• 2025-08-19 Listed $399,000 HVCRMLS
• 2024-04-19 Sold (MLS) $267,500 HVCRMLS
• 2024-03-11 Pending — HVCRMLS
• 2024-02-08 Pending — HVCRMLS
• 2023-10-11 Listed $295,000 HVCRMLS
• 2013-05-01 Listed $126,500 HVCRMLS
• 2005-09-19 Sold (Public Records) $130,000 Public Records
• 2005-09-12 Sold (MLS) $130,000 HVCRMLS
• 2005-07-07 Listed $129,900 HVCRMLS

Property tax history

+5.1%/yr

Latest (2025): $6,633 · +12.9% YoY. Source: county tax records.