10 Charles St · Poughkeepsie, NY 12601

$309,000

4 bd · 2.0 ba · 1,248 sqft · MultiFamily public records · 79 Days on market

Built 1900 2,614 sqft lot

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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 +22.3/30.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 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

2 Family within walking distance to Metro North, the Main Street Restaurant District and the waterfront. Solid rental history with very low turnover. This home features separate utilities and a driveway for off street parking. Perfect for the investor or a live in one unit and rent out the other unit type situation.

Key facts

• Separate utilities
• Waterfront
• 2,614 sq ft lot

Tags

• WATERFRONT
• SEPARATE UTILITIES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $309k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive. Per door: $254/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $309k).
• Recommended offer: $290k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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; 32 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $3,907/mo this rent would consume 74% 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 $2k of loan paydown is wiped out by about $9k 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 79 days — a 6% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $26k; list at $309k implies a 1112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1900 — 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 $290,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 1900 — 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: 1.26% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.05%
• DSCR: 1.31
• GRM: 6.6

CMA / ARV

• ARV (median comp): $720,945
• List price: $309,000
• Delta: -57.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21 Taylor Ave	0.42mi	3/2.0 (-1)	1,236 (-1%)	21mo	$355,000	$287	57

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-14,726
• Equity at exit: $46,073

10-year hold

• IRR: 6.2%
• Equity multiple: 1.48×
• Total profit: $41,224
• Equity at exit: $26,717

Cash invested: $86,520 (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: 13.2×

Monthly cashflow live

• Estimated rent: $3,907 high
• Mortgage (P&I): −$1,620
• Tax from tax record: −$829 /mo · $9,951/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$820
• Net cashflow: $508

Break-even live

Break-even rent $3,264

Max offer price $309,000

Occupancy floor 82%

Sensitivity live

Price	-10% $683	-5% $596	+0% $508	+5% $421	+10% $333
Rent	-10% $199	-5% $354	+0% $508	+5% $662	+10% $817
Rate	-1.0pp $664	-0.5pp $587	base $508	+0.5pp $428	+1.0pp $347

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,906
Total (2 units)			$3,907

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: $77,250
• Closing costs: $9,270
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 N Clover St Poughkeepsie, NY	3.0	1.0	1000	$2,175	$2.17	44d	1	0.11mi
6mt Carmel PL Unit 2 Poughkeepsie, NY	3.0	1.0	1250	$2,500	$2.00	24d	1	0.29mi
61 Delafield St Unit 2 Poughkeepsie, NY	3.0	1.0	1400	$2,600	$1.86	14d	1	0.30mi
32 Balding Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1226	$2,500	$2.04	44d	1	0.36mi
77 Marshall St Unit 1F Poughkeepsie, NY	3.0	1.0	1050	$2,350	$2.24	44d	1	0.39mi
77 Marshall St Fl 1 Poughkeepsie, NY	3.0	1.0	1050	$2,250	$2.14	24d	1	0.39mi
77 Marshall St Poughkeepsie, NY	3.0	1.0	1050	$2,250	$2.14	44d	1	0.39mi
40 Parker Ave Apt 1 Poughkeepsie, NY	3.0	1.0	1100	$2,100	$1.91	44d	1	0.39mi
50 Parker Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1300	$2,150	$1.65	24d	1	0.43mi
50 Parker Ave Unit 3 Poughkeepsie, NY	3.0	1.0	1300	$2,100	$1.62	44d	1	0.43mi
43 High St Unit 1 Poughkeepsie, NY	4.0	1.0	1250	$2,300	$1.84	24d	1	0.59mi
1 Grove St Poughkeepsie, NY	3.0	1.0	1200	$1,750	$1.46	44d	1	0.62mi
1 S Hamilton St Unit 3 Poughkeepsie, NY	3.0	1.0	1100	$2,500	$2.27	44d	1	0.64mi
36 Pine St Unit Three Bedroom Waitlist Poughkeepsie, NY	3.0	2.0	1299	$3,300	$2.54	44d	1	0.67mi
139 N Hamilton St Unit 2 Poughkeepsie, NY	4.0	1.0	955	$1,900	$1.99	14d	1	0.67mi
49 S Hamilton St Unit 2 Poughkeepsie, NY	3.0	1.0	1100	$2,000	$1.82	44d	1	0.71mi
2 Park Pl Unit 2 Poughkeepsie, NY	3.0	1.0	1380	$1,900	$1.38	24d	1	0.74mi
156 N Clinton St Apt 2 Poughkeepsie, NY	3.0	1.0	1300	$1,800	$1.38	24d	1	0.75mi
197 N Hamilton St #2 Poughkeepsie, NY	3.0	1.0	1056	$2,200	$2.08	24d	1	0.76mi
49 Carroll St Unit 1 Poughkeepsie, NY	3.0	1.0	1039	$2,200	$2.12	14d	1	0.85mi
151 Cannon St Unit 3 Poughkeepsie, NY	3.0	1.0	864	$2,100	$2.43	24d	1	0.87mi
25 Lent St #2 Poughkeepsie, NY	3.0	1.0	1008	$2,200	$2.18	44d	1	0.89mi
25 Virginia Ave Unit 1 Poughkeepsie, NY	3.0	1.0	1150	$2,200	$1.91	44d	1	0.96mi
94 Winnikee Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1100	$2,000	$1.82	14d	1	0.98mi
104 Winnikee Ave #3 Poughkeepsie, NY	3.0	1.0	1100	$2,200	$2.00	44d	1	1.00mi
148 Winnikee Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1198	$1,900	$1.59	44d	1	1.06mi
197 Winnikee Ave Unit 2 Poughkeepsie, NY	3.0	1.0	1344	$2,600	$1.93	44d	1	1.06mi
8 Fox Ter Unit 1 Poughkeepsie, NY	3.0	1.0	1450	$2,200	$1.52	44d	1	1.11mi
174 South Ave #2 Poughkeepsie, NY	3.0	1.0	864	$1,950	$2.26	14d	1	1.12mi
9 Bartlett St Poughkeepsie, NY	3.0	1.0	1080	$2,000	$1.85	24d	1	1.12mi
37 Roosevelt Ave Unit 1 Poughkeepsie, NY	3.0	1.0	1250	$2,000	$1.60	21d	1	1.39mi
18 Innis Ave Unit 1 Poughkeepsie, NY	3.0	1.0	1344	$2,500	$1.86	24d	1	1.43mi

Listing history 23 events

1. 2026-06-18
   days on market $309,000 Active 79 DOM
2. 2026-06-17
   days on market $309,000 Active 78 DOM
3. 2026-06-16
   days on market $309,000 Active 77 DOM
4. 2026-06-15
   days on market $309,000 Active 76 DOM
5. 2026-06-14
   days on market $309,000 Active 74 DOM
6. 2026-06-10
   days on market $309,000 Active 71 DOM
7. 2026-06-09
   days on market $309,000 Active 70 DOM
8. 2026-06-08
   days on market $309,000 Active 69 DOM
9. 2026-06-07
   days on market $309,000 Active 68 DOM
10. 2026-06-05
    days on market $309,000 Active 65 DOM
11. 2026-06-03
    days on market $309,000 Active 64 DOM
12. 2026-06-02
    days on market $309,000 Active 63 DOM
13. 2026-06-01
    days on market $309,000 Active 62 DOM
14. 2026-05-31
    days on market $309,000 Active 61 DOM
15. 2026-05-30
    days on market $309,000 Active 60 DOM
16. 2026-05-12
    price $309,000 320-char remark

    Show marketing remark (320 chars)

    2 Family within walking distance to Metro North, the Main Street Restaurant District and the waterfront. Solid rental history with very low turnover. This home features separate utilities and a driveway for off street parking. Perfect for the investor or a live in one unit and rent out the other unit type situation.

17. 2026-05-04
    price $319,900 320-char remark

    Show marketing remark (320 chars)

    2 Family within walking distance to Metro North, the Main Street Restaurant District and the waterfront. Solid rental history with very low turnover. This home features separate utilities and a driveway for off street parking. Perfect for the investor or a live in one unit and rent out the other unit type situation.

18. 2026-04-18
    price $330,000 320-char remark

    Show marketing remark (320 chars)

    2 Family within walking distance to Metro North, the Main Street Restaurant District and the waterfront. Solid rental history with very low turnover. This home features separate utilities and a driveway for off street parking. Perfect for the investor or a live in one unit and rent out the other unit type situation.

19. 2026-03-31
    listed $349,900 Active 320-char remark

    Show marketing remark (320 chars)

    2 Family within walking distance to Metro North, the Main Street Restaurant District and the waterfront. Solid rental history with very low turnover. This home features separate utilities and a driveway for off street parking. Perfect for the investor or a live in one unit and rent out the other unit type situation.

20. 2010-03-23
    soldstatus $25,500
21. 2006-07-20
    soldstatus $216,000
22. 2003-04-17
    soldstatus $126,000
23. 1984-06-22
    soldstatus $14,000

ⓘ 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: $9,951 · $829/mo
• Projected year-2 tax: $9,951 · $829/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 10% 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: $46,884
• − Mortgage interest: −$17,309
• − Property taxes: −$9,951
• − Insurance: −$1,545
• − Repairs & maintenance: −$3,751
• − Management: −$3,751
• − Depreciation: −$8,989
• Taxable income: $1,589
• Est. tax owed @ 24.0%: −$381
• After-tax cash flow: $5,716/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

+2107.1% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $309,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $319,900 OneKey® MLS as Distributed by MLS Grid
• 2026-04-18 Price Changed $330,000 OneKey® MLS as Distributed by MLS Grid
• 2026-03-31 Listed $349,900 OneKey® MLS as Distributed by MLS Grid
• 2010-03-23 Sold (Public Records) $25,500 Public Records
• 2006-07-20 Sold (Public Records) $216,000 Public Records
• 2003-04-17 Sold (Public Records) $126,000 Public Records
• 1984-06-22 Sold (Public Records) $14,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $9,951 · +54.4% YoY. Source: county tax records.