245-249 Lattintown Rd #0 · Marlboro, NY 12542

$689,900

6 bd · 3.9 ba · 3,380 sqft · MultiFamily · 108 Days on market

Built 1879 Average condition 1.20 ac lot $204/sqft · 15% below area Est $807k · 15% 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).

• ARV discount +14.0/15.0
• Cash flow +12.5/30.0
• Appreciation +9.5/10.0
• Schools +4.4/10.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Great investment opportunity! Two Story house plus 2 mobile homes with two bedrooms and one bath each. All three units are rented out. There is also a three bay garage. Property is close to Route 84, thruway, metro North etc.

Key facts

• 1.2 acre lot
• 3 garage spots
• Built 1879

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.3-bath units multifamily listed at $690k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative. Per door: $-32/mo.
• To cash-flow at today's rent, offer at most $676k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $591k (14.3% below list).
• Recommended offer: $591k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.0% in Marlboro — 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 72/100 on livability (#347 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living D+, amenities F, commute D-.
• Marlboro Central School District (suburban): math 43% / reading 55% proficiency, ranked #366 of 590 in NY (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 56 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• In year one you build about $67k of equity ($5k loan paydown + $62k appreciation (9.0% local appreciation)).
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$107k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($628k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1879 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $591,400 (14.3% 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 108 days. Have you received any prior offers? Is the seller open to a 14% 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 1879 — 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. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

• ARV (median comp): $807,212
• List price: $689,900
• Delta: -14.53%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

8.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.66×
• Total profit: $321,541
• Equity at exit: $570,248

10-year hold

• IRR: 19.7%
• Equity multiple: 5.88×
• Total profit: $942,126
• Equity at exit: $1,178,998

Cash invested: $193,172 (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 12542

• Home prices YoY: 2.8%
• Active inventory: 56
• Price-to-rent: 29.2×

Monthly cashflow live

• Estimated rent: $5,914 medium
• Mortgage (P&I): −$3,618
• Tax est. 1.5%: −$862 /mo · $10,348/yr
• Insurance: −$287
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,242
• Net cashflow: $-96

Break-even live

Break-even rent $6,035

Max offer price $676,054

Occupancy floor 97%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.3	$5,913
Total (3 units)			$5,914

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: $172,475
• Closing costs: $20,697
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $689,900 Active 108 DOM
2. 2026-06-17
   days on market $689,900 Active 107 DOM
3. 2026-06-16
   days on market $689,900 Active 106 DOM
4. 2026-06-15
   days on market $689,900 Active 105 DOM
5. 2026-06-14
   days on market $689,900 Active 103 DOM
6. 2026-06-13
   days on market $689,900 Active 102 DOM
7. 2026-06-10
   days on market $689,900 Active 100 DOM
8. 2026-06-09
   days on market $689,900 Active 99 DOM
9. 2026-06-08
   days on market $689,900 Active 98 DOM
10. 2026-06-07
    days on market $689,900 Active 97 DOM
11. 2026-06-03
    days on market $689,900 Active 93 DOM
12. 2026-06-02
    days on market $689,900 Active 92 DOM
13. 2026-06-01
    days on market $689,900 Active 91 DOM
14. 2026-05-31
    days on market $689,900 Active 90 DOM
15. 2026-05-30
    days on market $689,900 Active 89 DOM
16. 2026-03-02
    listed $689,900 Active 225-char remark

    Show marketing remark (225 chars)

    Great investment opportunity! Two Story house plus 2 mobile homes with two bedrooms and one bath each. All three units are rented out. There is also a three bay garage. Property is close to Route 84, thruway, metro North etc.

17. 2025-03-05
    listed $689,000 Active
18. 2025-03-01
    historical
19. 2024-08-26
    listed $689,000 Active
20. 2024-08-22
    listed $689,000 Active
21. 2020-12-31
    historical
22. 2020-12-31
    historical
23. 2020-06-26
    listed $399,000
24. 2020-06-14
    listed $399,000
25. 2020-06-13
    listed $399,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,968
• − Mortgage interest: −$38,645
• − Property taxes: −$10,348
• − Insurance: −$3,450
• − Repairs & maintenance: −$5,677
• − Management: −$5,677
• − Depreciation: −$20,070
• Taxable loss: −$12,900
• Est. tax savings @ 24.0%: +$3,096
• After-tax cash flow: $1,948/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

This two-story multi-family home presents an average condition with moderate rehabilitation needs. Upgrading the kitchen and bathrooms, along with replacing the HVAC units, can significantly increase its value for both resale and rental purposes.

Repairs flagged

• Moderate kitchen cabinets — outdated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Moderate HVAC units — existing units show signs of wear

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen can increase both resale and rental value
• Both bathroom renovation — updating bathrooms can significantly boost both resale and rental value
• Both HVAC replacement — replacing old HVAC units with energy-efficient models can improve comfort and reduce utility costs, thus increasing both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
HVAC units · existing units show signs of wear	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen can increase both resale and rental value ↑
• Both bathroom renovation — updating bathrooms can significantly boost both resale and rental value ↑
• Both HVAC replacement — replacing old HVAC units with energy-efficient models can improve comfort and reduce utility costs, thus increasing both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Marlboro Central School District
• NCES district ID: 3618570
• Math proficiency: 43% ▼ -10.00%
• Reading proficiency: 55% ▲ 8.00%
• Median HH income: $68,737
• Composite: 43.7/100
• National rank: #2953
• State rank: #366 of 590 in NY

Livability — Marlboro

• Score: 72/100
• State rank: #347
• US rank: #5847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,859

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 11% Black 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Dominican 2%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 2% Arabic 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: ▲ 8.97%
• Current HPI: 325.4749
• 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

+72.9% since first listed

10 events — show timeline

• 2026-03-02 Listed $689,900 HVCRMLS
• 2025-03-05 Listed $689,000 HVCRMLS
• 2025-03-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-08-26 Listed $689,000 HVCRMLS
• 2024-08-22 Listed $689,000 OneKey® MLS as Distributed by MLS Grid
• 2020-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-12-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-06-26 Listed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2020-06-14 Listed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2020-06-13 Listed $399,000 HVCRMLS