25 Phillips Ave · Highland, NY 12528

$175,000

4 bd · 3.0 ba · 2,962 sqft · MultiFamily public records · 22 Days on market

Built 1940 0.51 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Opportunity awaits at 25 Phillips Avenue in the heart of Highland! Situated on a spacious and private lot surrounded by mature trees, this 3-family property offers endless potential for investors, contractors, or buyers looking to restore and customize a large multi-unit home in a desirable Ulster County location. Offering approximately 2,962 square feet, the property features expansive living spaces, multiple entrances, and a flexible floor plan ideal for income-producing or multi-generational living. The home has already been taken down to the studs in many areas, exposing much of the original wood framing and creating a blank canvas for renovation. Floor plans reveal generously sized rooms throughout, including oversized living areas, multiple bedrooms, dining spaces and more. Separate utility access and multiple entry points add to the property's versatility and future rental potential. Set back from the road with a large lawn, ample parking, and scenic mountain and neighborhood views from the aerial perspective, the property offers both privacy and convenience. Located close to the Mid-Hudson Bridge, Metro North, Route 9W, shopping, dining, and the vibrant New Paltz and Highland communities. Bring your vision and restore this unique multi-family property to its full potential. Cash or rehab Loans ONLY. Sold as-is.

Key facts

• Private lot
• Flexible floor plan
• Multiple entrances

Tags

• PRIVATE LOT
• MATURE TREES
• MULTIPLE ENTRANCES
• FLEXIBLE FLOOR PLAN
• ORIGINAL WOOD FRAMING
• SEPARATE UTILITY ACCESS

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: Garage (no carport)
• Utilities: Public sewer; Cable connected; Electricity connected
• Home design: Triplex property
• Construction: Wood siding; Slab foundation
• Exterior features: No waterfront; Public records list building area of 2,962

Interior

• Bedrooms: Two 1-bedroom units and one 2-bedroom unit (triplex configuration)
• Bathrooms: Three full bathrooms
• Heating & cooling: Hot water heating (oil-fired); No central cooling
• Interior features: Entrance foyer

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 33.8% vs local median 2.6% in Highland — 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 75/100 on livability (#251 in NY, #3,941 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living D-.
• Highland Central School District (suburban): math 50% / reading 69% proficiency, ranked #227 of 590 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Highland Elementary School (math 46% / reading 67%, grade C+, #899 of 2,108 statewide, top 43%, 638 students, 38% FRL); Highland Middle School (math 27% / reading 57%, grade D-, #379 of 729 statewide, top 54%, 376 students, 42% FRL); Highland High School (math 87% / reading 92%, grade A+, #265 of 1,100 statewide, top 26%, 512 students, 41% FRL).
• Market conditions: 106 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 10y 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 $132k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,375 (1.5% below list)

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 1940 — 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. 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.
7. 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.
8. 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: 3.99% ✓
• Cap rate: 33.79%
• Cash-on-cash: 98.19%
• DSCR: 5.37
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $512,426
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122 Vineyard Ave	0.27mi	4/2.0	3,174 (+7%)	2mo	$550,000	$173	70
4 Van Wagner Rd	0.30mi	3/3.0 (-1)	2,755 (-7%)	20mo	$375,000	$136	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 99.2%
• Equity multiple: 5.64×
• Total profit: $227,293
• Equity at exit: $26,093

10-year hold

• IRR: —
• Equity multiple: 11.77×
• Total profit: $527,918
• Equity at exit: $15,131

Cash invested: $49,000 (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 12528

• Home prices YoY: -20.5%
• Active inventory: 106
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $6,986 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$519 /mo · $6,227/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,467
• Net cashflow: $4,009

Break-even live

Break-even rent $1,911

Max offer price $175,000

Occupancy floor 38%

Sensitivity live

Price	-10% $4,108	-5% $4,059	+0% $4,009	+5% $3,960	+10% $3,910
Rent	-10% $3,458	-5% $3,733	+0% $4,009	+5% $4,285	+10% $4,561
Rate	-1.0pp $4,098	-0.5pp $4,054	base $4,009	+0.5pp $3,964	+1.0pp $3,918

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$6,987
Total (3 units)			$6,986

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-12
   statusdays on market $175,000 Pending 22 DOM
2. 2026-06-09
   days on market $175,000 Active 21 DOM
3. 2026-06-08
   days on market $175,000 Active 20 DOM
4. 2026-06-07
   days on market $175,000 Active 19 DOM
5. 2026-06-05
   days on market $175,000 Active 17 DOM
6. 2026-06-04
   days on market $175,000 Active 15 DOM
7. 2026-06-02
   days on market $175,000 Active 14 DOM
8. 2026-06-01
   days on market $175,000 Active 13 DOM
9. 2026-05-31
   days on market $175,000 Active 12 DOM
10. 2026-05-19
    listed $175,000 Active 1340-char remark

    Show marketing remark (1340 chars)

    Opportunity awaits at 25 Phillips Avenue in the heart of Highland! Situated on a spacious and private lot surrounded by mature trees, this 3-family property offers endless potential for investors, contractors, or buyers looking to restore and customize a large multi-unit home in a desirable Ulster County location. Offering approximately 2,962 square feet, the property features expansive living spaces, multiple entrances, and a flexible floor plan ideal for income-producing or multi-generational living. The home has already been taken down to the studs in many areas, exposing much of the original wood framing and creating a blank canvas for renovation. Floor plans reveal generously sized rooms throughout, including oversized living areas, multiple bedrooms, dining spaces and more. Separate utility access and multiple entry points add to the property's versatility and future rental potential. Set back from the road with a large lawn, ample parking, and scenic mountain and neighborhood views from the aerial perspective, the property offers both privacy and convenience. Located close to the Mid-Hudson Bridge, Metro North, Route 9W, shopping, dining, and the vibrant New Paltz and Highland communities. Bring your vision and restore this unique multi-family property to its full potential. Cash or rehab Loans ONLY. Sold as-is.

11. 2026-05-19
    listed $175,000 Active

    Show marketing remark (1340 chars)

    Opportunity awaits at 25 Phillips Avenue in the heart of Highland! Situated on a spacious and private lot surrounded by mature trees, this 3-family property offers endless potential for investors, contractors, or buyers looking to restore and customize a large multi-unit home in a desirable Ulster County location. Offering approximately 2,962 square feet, the property features expansive living spaces, multiple entrances, and a flexible floor plan ideal for income-producing or multi-generational living. The home has already been taken down to the studs in many areas, exposing much of the original wood framing and creating a blank canvas for renovation. Floor plans reveal generously sized rooms throughout, including oversized living areas, multiple bedrooms, dining spaces and more. Separate utility access and multiple entry points add to the property's versatility and future rental potential. Set back from the road with a large lawn, ample parking, and scenic mountain and neighborhood views from the aerial perspective, the property offers both privacy and convenience. Located close to the Mid-Hudson Bridge, Metro North, Route 9W, shopping, dining, and the vibrant New Paltz and Highland communities. Bring your vision and restore this unique multi-family property to its full potential. Cash or rehab Loans ONLY. Sold as-is.

12. 2025-11-03
    soldstatus $132,000
13. 2025-02-07
    soldstatus $200,000 Closed 328-char remark

    Show marketing remark (328 chars)

    Bring your vision to this 3 Family 'Fixer-Upper'! Situated less than half a mile from Highland's village center and the Hudson Valley Rail Trail, and only minutes from the Poughkeepsie Train Station, this property boasts exceptional accessibility. This property is being sold in 'as is' condition and is in need of many repairs.

14. 2025-01-30
    status Pending 328-char remark

    Show marketing remark (328 chars)

    Bring your vision to this 3 Family 'Fixer-Upper'! Situated less than half a mile from Highland's village center and the Hudson Valley Rail Trail, and only minutes from the Poughkeepsie Train Station, this property boasts exceptional accessibility. This property is being sold in 'as is' condition and is in need of many repairs.

15. 2024-12-02
    historical Active Under Contract 328-char remark

    Show marketing remark (328 chars)

    Bring your vision to this 3 Family 'Fixer-Upper'! Situated less than half a mile from Highland's village center and the Hudson Valley Rail Trail, and only minutes from the Poughkeepsie Train Station, this property boasts exceptional accessibility. This property is being sold in 'as is' condition and is in need of many repairs.

16. 2024-11-18
    listed $225,000 Active 328-char remark

    Show marketing remark (328 chars)

    Bring your vision to this 3 Family 'Fixer-Upper'! Situated less than half a mile from Highland's village center and the Hudson Valley Rail Trail, and only minutes from the Poughkeepsie Train Station, this property boasts exceptional accessibility. This property is being sold in 'as is' condition and is in need of many repairs.

17. 2024-02-15
    soldstatus $75,000
18. 2024-02-03
    historical
19. 2024-02-02
    status Pending (Fully Executed Contract)
20. 2023-12-07
    historical Contingent (Show)
21. 2023-11-07
    status Back On Market
22. 2023-09-15
    status Pending (Continue To Show)
23. 2023-08-09
    listed $99,900 Active
24. 2016-09-16
    listed $115,000
25. 2016-08-19
    listed $87,500
26. 2016-08-19
    listed $87,500

ⓘ 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: $6,227 · $519/mo
• Projected year-2 tax: $6,227 · $519/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 4/10 Moderate 7 d/yr ≥98°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,832
• − Mortgage interest: −$9,803
• − Property taxes: −$6,227
• − Insurance: −$875
• − Repairs & maintenance: −$6,707
• − Management: −$6,707
• − Depreciation: −$5,091
• Taxable income: $48,423
• Est. tax owed @ 24.0%: −$11,622
• After-tax cash flow: $36,491/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: Highland Central School District
• NCES district ID: 3614400
• Math proficiency: 50% ▼ -3.00%
• Reading proficiency: 69% ▲ 14.00%
• Median HH income: $63,600
• Composite: 51.89/100
• National rank: #1652
• State rank: #227 of 590 in NY

Livability — Highland

• Score: 75/100
• State rank: #251
• US rank: #3941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland, NY
• Population (ZIP): 13,818

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 10% Two or more races 9% Asian 7% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Slovak 2%
• Foreign-born: 11% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 9% Vietnamese 6% Other Indo-European 2%

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: ▼ -84.26%
• Current HPI: 327.3196
• 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

+100.0% since first listed

17 events — show timeline

• 2026-05-19 Listed $175,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-19 Listed $175,000 HVCRMLS
• 2025-11-03 Sold (Public Records) $132,000 Public Records
• 2025-02-07 Sold (MLS) $200,000 HVCRMLS
• 2025-01-30 Pending — HVCRMLS
• 2024-12-02 Contingent — HVCRMLS
• 2024-11-18 Listed $225,000 HVCRMLS
• 2024-02-15 Sold (Public Records) $75,000 Public Records
• 2024-02-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-02-02 Pending — HVCRMLS
• 2023-12-07 Contingent — HVCRMLS
• 2023-11-07 Relisted — HVCRMLS
• 2023-09-15 Pending — HVCRMLS
• 2023-08-09 Listed $99,900 HVCRMLS
• 2016-09-16 Listed $115,000 HVCRMLS
• 2016-08-19 Listed $87,500 OneKey® MLS as Distributed by MLS Grid
• 2016-08-19 Listed $87,500 HVCRMLS

Property tax history

+11.7%/yr

Latest (2025): $6,227 · +3.6% YoY. Source: county tax records.