83 Albany St · Poughkeepsie, NY 12601

$365,000

5 bd · 2.5 ba · 1,880 sqft · MultiFamily public records · 78 Days on market

Built 1855 7,405 sqft lot Est $655k · 44% 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 +15.5/30.0
• ARV discount +15.0/15.0
• 1% rule +6.3/10.0
• DSCR +4.8/10.0
• 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 MLS

A great opportunity to own a solid income property in the heart of Poughkeepsie! This great 2-unit home is centrally located near the Poughkeepsie train station, waterfront, Walkway over the Hudson, and Route 9. The 1st floor unit is a 3 bedroom, 1.5 bath bilevel apartment with laundry hook-ups, front and rear entrances, and a back porch. Upstairs is a lovely 2 bedroom apartment with a front balcony with seasonal views of the Hudson. There is a full attic space with tons of storage space and potential. Large level back yard, and ample off-street parking. There are separate gas and electric meters, and the residents pay their own heat, hot water and electric. Many recent improvements including new boilers, chimney liner, water heater, partial roof replacement and more. Hurry, this great deal won't last!

Key facts

• Full attic space
• Front balcony
• Centrally located

Tags

• CENTRALLY LOCATED
• LAUNDRY HOOK-UPS
• BACK PORCH
• FRONT BALCONY
• SEASONAL VIEWS
• FULL ATTIC SPACE

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive. Per door: $75/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $365k).
• Recommended offer: $343k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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.
• 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 $4,116/mo this rent would consume 78% 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

• It's been on market 78 days — a 6% lower offer ($343k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y 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 $160k; list at $365k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1855 — 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 $343,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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 1855 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 1.13% ✓
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 7.4

CMA / ARV

• ARV (median comp): $655,479
• List price: $365,000
• Delta: -44.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
190 Union St	0.65mi	4/2.0 (-1)	2,080 (+11%)	5mo	$425,000	$204	40
163 Union St	0.64mi	4/2.0 (-1)	2,112 (+12%)	23mo	$423,497	$201	23

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: -12.5%
• Equity multiple: 0.55×
• Total profit: $-46,394
• Equity at exit: $54,423

10-year hold

• IRR: -2.0%
• Equity multiple: 0.86×
• Total profit: $-14,797
• Equity at exit: $31,559

Cash invested: $102,200 (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: $4,116 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$1,036 /mo · $12,428/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$864
• Net cashflow: $150

Break-even live

Break-even rent $3,926

Max offer price $365,000

Occupancy floor 91%

Sensitivity live

Price	-10% $356	-5% $253	+0% $150	+5% $46	+10% $-57
Rent	-10% $-175	-5% $-13	+0% $150	+5% $312	+10% $475
Rate	-1.0pp $334	-0.5pp $243	base $150	+0.5pp $55	+1.0pp $-41

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$4,116
Total (2 units)			$4,116

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43 High St Unit 1 Poughkeepsie, NY	4.0	1.0	1250	$2,300	$1.84	24d	1	0.75mi

Listing history 32 events

1. 2026-06-18
   days on market $365,000 Active 78 DOM
2. 2026-06-17
   days on market $365,000 Active 77 DOM
3. 2026-06-16
   days on market $365,000 Active 76 DOM
4. 2026-06-15
   days on market $365,000 Active 75 DOM
5. 2026-06-14
   days on market $365,000 Active 73 DOM
6. 2026-06-10
   days on market $365,000 Active 70 DOM
7. 2026-06-09
   days on market $365,000 Active 69 DOM
8. 2026-06-08
   days on market $365,000 Active 68 DOM
9. 2026-06-07
   days on market $365,000 Active 67 DOM
10. 2026-06-05
    days on market $365,000 Active 64 DOM
11. 2026-06-03
    days on market $365,000 Active 63 DOM
12. 2026-06-02
    days on market $365,000 Active 62 DOM
13. 2026-06-01
    days on market $365,000 Active 61 DOM
14. 2026-05-31
    days on market $365,000 Active 60 DOM
15. 2026-05-30
    days on market $365,000 Active 59 DOM
16. 2026-04-01
    listed $365,000 Active 813-char remark

    Show marketing remark (813 chars)

    A great opportunity to own a solid income property in the heart of Poughkeepsie! This great 2-unit home is centrally located near the Poughkeepsie train station, waterfront, Walkway over the Hudson, and Route 9. The 1st floor unit is a 3 bedroom, 1.5 bath bilevel apartment with laundry hook-ups, front and rear entrances, and a back porch. Upstairs is a lovely 2 bedroom apartment with a front balcony with seasonal views of the Hudson. There is a full attic space with tons of storage space and potential. Large level back yard, and ample off-street parking. There are separate gas and electric meters, and the residents pay their own heat, hot water and electric. Many recent improvements including new boilers, chimney liner, water heater, partial roof replacement and more. Hurry, this great deal won't last!

17. 2013-10-31
    soldstatus $159,500
18. 2013-09-02
    soldstatus $159,500 355-char remark

    Show marketing remark (355 chars)

    Hudson River views come with this spacious 2 family with large backyard and off street parking. Walk up attic. This property is close to Marist college, the train and hospitals. A great investment property, or live in one and rent the other. Newer roof and windows. Freshly painted with new carpet. Nothing to do, this 2 family home is ready to move into!

19. 2013-09-02
    soldstatus $159,500

    Show marketing remark (355 chars)

    Hudson River views come with this spacious 2 family with large backyard and off street parking. Walk up attic. This property is close to Marist college, the train and hospitals. A great investment property, or live in one and rent the other. Newer roof and windows. Freshly painted with new carpet. Nothing to do, this 2 family home is ready to move into!

20. 2013-08-26
    price $169,000 355-char remark

    Show marketing remark (355 chars)

    Hudson River views come with this spacious 2 family with large backyard and off street parking. Walk up attic. This property is close to Marist college, the train and hospitals. A great investment property, or live in one and rent the other. Newer roof and windows. Freshly painted with new carpet. Nothing to do, this 2 family home is ready to move into!

21. 2013-08-26
    historical 355-char remark

    Show marketing remark (355 chars)

    Hudson River views come with this spacious 2 family with large backyard and off street parking. Walk up attic. This property is close to Marist college, the train and hospitals. A great investment property, or live in one and rent the other. Newer roof and windows. Freshly painted with new carpet. Nothing to do, this 2 family home is ready to move into!

22. 2013-06-18
    listed $159,500 355-char remark

    Show marketing remark (355 chars)

    Hudson River views come with this spacious 2 family with large backyard and off street parking. Walk up attic. This property is close to Marist college, the train and hospitals. A great investment property, or live in one and rent the other. Newer roof and windows. Freshly painted with new carpet. Nothing to do, this 2 family home is ready to move into!

23. 2013-06-18
    listed $169,000

    Show marketing remark (355 chars)

    Hudson River views come with this spacious 2 family with large backyard and off street parking. Walk up attic. This property is close to Marist college, the train and hospitals. A great investment property, or live in one and rent the other. Newer roof and windows. Freshly painted with new carpet. Nothing to do, this 2 family home is ready to move into!

24. 2012-10-18
    historical
25. 2012-10-18
    historical
26. 2012-04-17
    listed $169,900
27. 2012-04-17
    listed
28. 2012-04-10
    historical
29. 2012-01-17
    listed $178,900
30. 2011-12-31
    historical
31. 2011-07-09
    listed
32. 1994-07-06
    soldstatus $85,000

ⓘ 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: $12,428 · $1,036/mo
• Projected year-2 tax: $12,428 · $1,036/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 ≥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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,392
• − Mortgage interest: −$20,446
• − Property taxes: −$12,428
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,951
• − Management: −$3,951
• − Depreciation: −$10,618
• Taxable loss: −$3,828
• Est. tax savings @ 24.0%: +$919
• After-tax cash flow: $2,716/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

+329.4% since first listed

17 events — show timeline

• 2026-04-01 Listed $365,000 OneKey® MLS as Distributed by MLS Grid
• 2013-10-31 Sold (Public Records) $159,500 Public Records
• 2013-09-02 Sold (MLS) $159,500 OneKey® MLS as Distributed by MLS Grid
• 2013-09-02 Sold (MLS) $159,500 HGMLS
• 2013-08-26 Delisted — HGMLS
• 2013-08-26 Price Changed $169,000 HGMLS
• 2013-06-18 Listed $169,000 OneKey® MLS as Distributed by MLS Grid
• 2013-06-18 Listed $159,500 HGMLS
• 2012-10-18 Delisted — HGMLS
• 2012-10-18 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-04-17 Listed — HGMLS
• 2012-04-17 Listed $169,900 OneKey® MLS as Distributed by MLS Grid
• 2012-04-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-01-17 Listed $178,900 OneKey® MLS as Distributed by MLS Grid
• 2011-12-31 Delisted — HGMLS
• 2011-07-09 Listed — HGMLS
• 1994-07-06 Sold (Public Records) $85,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $12,428 · +54.4% YoY. Source: county tax records.