982 S Schodack Rd · Castleton-on-Hudson, NY 12033

$675,000

9 bd · 5.1 ba · 4,224 sqft · MultiFamily public records · 82 Days on market

Built 1800 3.17 ac lot $160/sqft · 28% below area Est $940k · 28% 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 +16.1/30.0
• ARV discount +15.0/15.0
• Schools +5.3/10.0
• DSCR +5.0/10.0
• 1% rule +4.0/10.0
• Rent growth +2.5/5.0
• Livability +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

Live free, earn steady rent in this beautiful owner-occupied dream. Move into a freshly renovated unit (interiors all new in 2025) and offset your mortgage with income from three fully-leased apartments. 4 units total (3 two-beds & 1 three-bed), all on stable 1 yr leases -- immediate cashflow -- turnkey, low-hassle country living Newer shared well and septic system, and on-site coin operated laundry room. All units have their own new electric and water heaters. All new windows, plumbing, SS appliances, flooring, kitchens and baths. There is a separate owner's electric service for laundry and common areas. The 3.17 acre parcel has lots of off-street parking and green space. Surrounded by farmland for peaceful country living. 10 mins to East Greenbush or Kinderhook. 15 mins to Rensselaer and downtown Albany. Schodack Schools.

Key facts

• New plumbing
• Ss appliances
• New windows

Tags

• FRESHLY RENOVATED UNIT
• FULLY-LEASED APARTMENTS
• NEW ELECTRIC AND WATER HEATERS
• NEW WINDOWS
• NEW PLUMBING
• SS APPLIANCES

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $675k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive. Per door: $116/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $610k (9.6% below list).
• Recommended offer: $610k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.5% in Castleton-on-Hudson — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Schodack Central School District (rural): math 59% / reading 60% proficiency, ranked #216 of 590 in NY (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 60 active listings in the ZIP; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($634k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $280k; list at $675k implies a 141% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $610,100 (9.6% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 10% 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 1800 — 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: 0.90% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.20%
• DSCR: 1.10
• GRM: 9.2

CMA / ARV

• ARV (median comp): $940,125
• List price: $675,000
• Delta: -28.20%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.8%
• Equity multiple: 0.54×
• Total profit: $-87,312
• Equity at exit: $100,645

10-year hold

• IRR: -3.8%
• Equity multiple: 0.75×
• Total profit: $-47,687
• Equity at exit: $58,362

Cash invested: $189,000 (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 12033

• Home prices YoY: -17.4%
• Active inventory: 60
• Price-to-rent: 27.7×

Monthly cashflow live

• Estimated rent: $6,101 medium
• Mortgage (P&I): −$3,540
• Tax from tax record: −$652 /mo · $7,823/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,281
• Net cashflow: $347

Break-even live

Break-even rent $5,662

Max offer price $675,000

Occupancy floor 89%

Sensitivity live

Price	-10% $729	-5% $538	+0% $347	+5% $156	+10% $-35
Rent	-10% $-135	-5% $106	+0% $347	+5% $588	+10% $829
Rate	-1.0pp $687	-0.5pp $519	base $347	+0.5pp $172	+1.0pp $-6

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$6,102
Total (3 units)			$6,101

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $675,000 Active 82 DOM
2. 2026-06-21
   days on market $675,000 Active 81 DOM
3. 2026-06-18
   days on market $675,000 Active 79 DOM
4. 2026-06-17
   days on market $675,000 Active 78 DOM
5. 2026-06-16
   days on market $675,000 Active 77 DOM
6. 2026-06-15
   days on market $675,000 Active 76 DOM
7. 2026-06-13
   days on market $675,000 Active 74 DOM
8. 2026-06-12
   days on market $675,000 Active 73 DOM
9. 2026-06-09
   days on market $675,000 Active 70 DOM
10. 2026-06-08
    days on market $675,000 Active 69 DOM
11. 2026-06-07
    days on market $675,000 Active 68 DOM
12. 2026-06-07
    days on market $675,000 Active 67 DOM
13. 2026-06-04
    days on market $675,000 Active 64 DOM
14. 2026-06-02
    days on market $675,000 Active 63 DOM
15. 2026-06-01
    days on market $675,000 Active 62 DOM
16. 2026-05-31
    days on market $675,000 Active 61 DOM
17. 2026-03-31
    listed $675,000 Active 839-char remark

    Show marketing remark (839 chars)

    Live free, earn steady rent in this beautiful owner-occupied dream. Move into a freshly renovated unit (interiors all new in 2025) and offset your mortgage with income from three fully-leased apartments. 4 units total (3 two-beds & 1 three-bed), all on stable 1 yr leases -- immediate cashflow -- turnkey, low-hassle country living Newer shared well and septic system, and on-site coin operated laundry room. All units have their own new electric and water heaters. All new windows, plumbing, SS appliances, flooring, kitchens and baths. There is a separate owner's electric service for laundry and common areas. The 3.17 acre parcel has lots of off-street parking and green space. Surrounded by farmland for peaceful country living. 10 mins to East Greenbush or Kinderhook. 15 mins to Rensselaer and downtown Albany. Schodack Schools.

18. 2026-03-27
    listed $675,000 Active 912-char remark

    Show marketing remark (912 chars)

    Fully Rented 4 Unit Apartment Investor Dream on3.17 acres: Complete interior renovations in 2025! This included new electric service lines and panels, new water heaters, new electric baseboard heat, new appliances, and new floors. ABSOLUTELY NOTHING TO DO BUT COLLECT THE RENT! 4 Units total (3 two-beds + 1 three-bed), all on stable 1yr leases -- immediate cashflow -- turnkey, low-hassle country living. Newer shared well and septic system, and on-site coin-operated laundry room. All units have their own electric and water heaters. All new windows, plumbing, SS appliances, flooring, kitchens, and baths. There is a separate owner's electric service for laundry and common areas. The 3.17 acre parcel has lots of off-street parking and green space. Surrounded by farmland for peaceful country living. 10 minutes to East Greenbush or Kinderhook. 15 minutes to Rensselaer and downtown Albany. Schodack Schools.

19. 2015-10-02
    historical
20. 2015-09-10
    listed $236,250 Active
21. 2006-08-22
    soldstatus $280,000
22. 2003-08-29
    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: $7,823 · $652/mo
• Projected year-2 tax: $9,615 · $801/mo
• Expected delta: +$1,792/yr (+$149/mo · 22.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% 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: $73,212
• − Mortgage interest: −$37,810
• − Property taxes: −$7,823
• − Insurance: −$3,375
• − Repairs & maintenance: −$5,857
• − Management: −$5,857
• − Depreciation: −$19,636
• Taxable loss: −$7,146
• Est. tax savings @ 24.0%: +$1,715
• After-tax cash flow: $5,878/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: Schodack Central School District
• NCES district ID: 3626070
• Math proficiency: 59% ▼ -7.00%
• Reading proficiency: 60% ▲ 7.00%
• Median HH income: $73,695
• Composite: 52.93/100
• National rank: #1530
• State rank: #216 of 590 in NY

Livability — Castleton-on-Hudson

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 7,772

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Iranian 8% Romanian 7% Lithuanian 5%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7% German/W. Germanic 1%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.57%
• Current HPI: 306.386
• 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

+694.1% since first listed

6 events — show timeline

• 2026-03-31 Listed $675,000 Global MLS
• 2026-03-27 Listed $675,000 HVCRMLS
• 2015-10-02 Listing Removed — Global MLS
• 2015-09-10 Listed $236,250 Global MLS
• 2006-08-22 Sold (Public Records) $280,000 Public Records
• 2003-08-29 Sold (Public Records) $85,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $7,823 · +0.2% YoY. Source: county tax records.