218 Partition St · Saugerties, NY 12477

$579,000

9 bd · 12.0 ba · 3,366 sqft · MultiFamily public records · 69 Days on market

Built 1930 5,663 sqft lot $172/sqft · 11% below area Est $651k · 11% under

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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
• ARV discount +12.5/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +4.1/10.0
• Livability +3.1/5.0
• 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 (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This legal 3 family is nestled in the center of town in the scenic backdrop of the Hudson Valley. Saugerties is more than just a charming town, only 2 hours from NYC, 45 min to Windham Mountain,30 min to Hunter Mountain, 20 min to Rhinebeck, and 15 min to Woodstock and Kingston, it is a treasure trove of delights that reflect its rich history and vibrant culture. Saugerties is more than just a scenic stop; it's a vibrant community that embraces creativity and culture. The local art scene flourishes with galleries, theaters, and live music venues that celebrate the town's artistic spirit. Attend seasonal festivals, farmers' markets, and events that bring residents together, making it a welcoming place for visitors and locals alike. This is a thriving community and a fantastic place to own your Historical Investment Building that has the most unique apartments with a strong income potential in a prime location close to shops, culinary delights and entertainment or make part of the building a an Art Galley with mixed use. Whether you're looking to immerse yourself in history or simply admire beautiful architectural designs, Saugerties is the destination that promises to captivate your heart. Invest in a legacy !! This incredible opportunity is a get away to a vibrant lifestyle and steady income. Plan your visit today. It is a destination that promises to captivate your heart. Your adventure awaits, where architectural beauty meets community spirit and an incredible buying opportunity !! (Tax records have it as a legal 4 Family)

Key facts

• Unique apartments
• Mixed use
• Architectural beauty

Tags

• HISTORICAL INVESTMENT BUILDING
• UNIQUE APARTMENTS
• STRONG INCOME POTENTIAL
• PRIME LOCATION
• MIXED USE
• ARCHITECTURAL BEAUTY

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/4.0-bath units multifamily listed at $579k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $764/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $579k).
• Recommended offer: $544k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 2.6% in Saugerties — 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 61/100 on livability (#916 in NY) — a middle-class / working-renter tenant base. Strengths: crime A-, housing B+; Watch: schools C-, cost of living C-, amenities F.
• Saugerties Central School District (suburban): math 38% / reading 57% proficiency, ranked #419 of 590 in NY (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 173 active listings in the ZIP; solid renter incomes; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).
• At $7,930/mo this rent would consume 118% of the median local household income ($81k/yr) (locally 725% 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 $4k of loan paydown is wiped out by about $17k 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 $162k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($544k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $579k implies a 865% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $544,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.37% ✓
• Cap rate: 11.04%
• Cash-on-cash: 16.96%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

• ARV (median comp): $651,339
• List price: $579,000
• Delta: -11.11%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.2%
• Equity multiple: 1.32×
• Total profit: $52,184
• Equity at exit: $86,331

10-year hold

• IRR: 17.5%
• Equity multiple: 2.44×
• Total profit: $233,734
• Equity at exit: $50,061

Cash invested: $162,120 (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 12477

• Home prices YoY: -18.1%
• Active inventory: 173
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $7,930 high
• Mortgage (P&I): −$3,036
• Tax from tax record: −$696 /mo · $8,355/yr
• Insurance: −$241
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,665
• Net cashflow: $2,291

Break-even live

Break-even rent $5,030

Max offer price $579,000

Occupancy floor 66%

Sensitivity live

Price	-10% $2,619	-5% $2,455	+0% $2,291	+5% $2,127	+10% $1,963
Rent	-10% $1,664	-5% $1,978	+0% $2,291	+5% $2,604	+10% $2,917
Rate	-1.0pp $2,582	-0.5pp $2,438	base $2,291	+0.5pp $2,141	+1.0pp $1,988

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	4	$7,929
Total (3 units)			$7,930

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: $144,750
• Closing costs: $17,370
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-03-14
   listed $579,000 Active 1550-char remark

   Show marketing remark (1550 chars)

   This legal 3 family is nestled in the center of town in the scenic backdrop of the Hudson Valley. Saugerties is more than just a charming town, only 2 hours from NYC, 45 min to Windham Mountain,30 min to Hunter Mountain, 20 min to Rhinebeck, and 15 min to Woodstock and Kingston, it is a treasure trove of delights that reflect its rich history and vibrant culture. Saugerties is more than just a scenic stop; it's a vibrant community that embraces creativity and culture. The local art scene flourishes with galleries, theaters, and live music venues that celebrate the town's artistic spirit. Attend seasonal festivals, farmers' markets, and events that bring residents together, making it a welcoming place for visitors and locals alike. This is a thriving community and a fantastic place to own your Historical Investment Building that has the most unique apartments with a strong income potential in a prime location close to shops, culinary delights and entertainment or make part of the building a an Art Galley with mixed use. Whether you're looking to immerse yourself in history or simply admire beautiful architectural designs, Saugerties is the destination that promises to captivate your heart. Invest in a legacy !! This incredible opportunity is a get away to a vibrant lifestyle and steady income. Plan your visit today. It is a destination that promises to captivate your heart. Your adventure awaits, where architectural beauty meets community spirit and an incredible buying opportunity !! (Tax records have it as a legal 4 Family)

2. 1997-05-14
   soldstatus $60,000
3. 1996-01-03
   soldstatus $50,000

ⓘ 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: $8,355 · $696/mo
• Projected year-2 tax: $9,070 · $756/mo
• Expected delta: +$715/yr (+$60/mo · 8.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $95,160
• − Mortgage interest: −$32,433
• − Property taxes: −$8,355
• − Insurance: −$2,895
• − Repairs & maintenance: −$7,613
• − Management: −$7,613
• − Depreciation: −$16,844
• Taxable income: $19,407
• Est. tax owed @ 24.0%: −$4,658
• After-tax cash flow: $22,832/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: Saugerties Central School District
• NCES district ID: 3625800
• Math proficiency: 38% ▼ -16.00%
• Reading proficiency: 57% ▲ 8.00%
• Median HH income: $56,897
• Composite: 41.3/100
• National rank: #3515
• State rank: #419 of 590 in NY

Livability — Saugerties

• Score: 61/100
• State rank: #916
• US rank: #17946

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saugerties, NY
• County: Ulster County · 56,183 people
• City population: 2,916
• Metro: Kingston, NY
• Population (ZIP): 19,066
• Household income: $80,861
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 725.0

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 (82%)
• Race & ethnicity: White 82% Two or more races 12% Hispanic / Latino 6% Black 1%
• Hispanic origin (detail): Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Iranian 4% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% German/W. Germanic 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: ▼ -72.47%
• Current HPI: 327.9975
• Rent YoY: —
• 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

+1058.0% since first listed

3 events — show timeline

• 2026-03-14 Listed $579,000 OneKey® MLS as Distributed by MLS Grid
• 1997-05-14 Sold (Public Records) $60,000 Public Records
• 1996-01-03 Sold (Public Records) $50,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $8,355 · +3.6% YoY. Source: county tax records.