72-1/2 Henry Ave · Newburgh, NY 12550

$385,000

6 bd · 4.0 ba · — sqft · MultiFamily · 44 Days on market

Built 1890 Average condition 5,662 sqft lot Est $596k · 35% under ↓ 11% since listing

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Condition / age +2.8/5.0
• Rent growth +2.7/5.0
• 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

PRICE IMPROVEMENT!! 72-1/2 Henry Avenue presents a standout opportunity in the heart of Newburgh’s Washington Heights neighborhood. Ideal for both owner-occupants and savvy investors seeking immediate income with future upside. Set on an oversized double lot, this legal two-family property with separate utilities offers approximately 1,452 square feet with two residential units plus an additional income-producing garage/storage rental, creating multiple revenue streams from day one. The first-floor apartment features a spacious 2-bedroom layout with backyard and deck access, while the second-floor unit is a vacant 1-bedroom perfect for a buyer looking to move right in or secure a new market-rate tenant. The extra-wide lot adds rare value and flexibility not often found in city properties. For an owner-occupant, this is the ultimate house-hack opportunity: live comfortably in the vacant unit while collecting rent from the occupied apartment and rented garage space. In many cases, the incoming rent can offset a substantial portion of your monthly mortgage, helping lower your housing expense while you build equity and long-term wealth. Instead of paying to live somewhere else, let your property work for you. For investors, the appeal is immediate cash flow with room to grow. With one occupied unit, one vacant unit ready for lease, and separate garage/storage income, the property offers three potential income channels. The double lot may also create future development potential, expansion possibilities, or added land value, subject to municipal approvals and zoning review. An exciting added benefit is the possibility of exploring RUPCO’s ADU (Accessory Dwelling Unit) grant programs or similar housing initiatives. Because the property sits on a double lot, eligible buyers may wish to investigate whether adding an accessory unit, cottage, or additional housing structure could be possible. Programs like these can help create more housing while increasing long-term property value, subject to qualifications, approvals, and local regulations. Located near Newburgh’s waterfront dining scene, parks, shopping, major commuter routes, and ferry access to Metro-North Railroad via Beacon, this property combines location, flexibility, and income potential in one smart purchase. Whether you're looking to reduce your living costs, build your portfolio, or unlock future development possibilities, 72-1/2 Henry Avenue is a rare find, book your tour today!

Key facts

• Separate utilities
• Double lot
• Two family property

Tags

• DOUBLE LOT
• TWO FAMILY PROPERTY
• SEPARATE UTILITIES
• INCOME PRODUCING GARAGE
• BACKYARD AND DECK ACCESS
• VACANT UNIT

🏷️ Possibly a rental listed for sale. The $385,000 price doesn't fit this home's estimated sale value (~$595,845) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $385k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $890 ($11k/yr) — positive. Per door: $445/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $385k).
• Recommended offer: $373k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.4% in Newburgh — 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 62/100 on livability (#878 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+, cost of living B; Watch: employment D+, schools D, crime F.
• Newburgh City School District (suburban): math 33% / reading 48% proficiency, ranked #500 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 383 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• At $4,494/mo this rent would consume 63% of the median local household income ($86k/yr) (locally 2412% 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 $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($373k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $373,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 1.17% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.90%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (median comp): $595,845
• List price: $385,000
• Delta: -35.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Liberty St	0.23mi	6/4.0	3,075	7mo	$500,000	$163	70
52 Benkard Ave	0.25mi	6/3.0	2,400	5mo	$375,000	$156	68
50 Carson Ave	0.16mi	5/3.0 (-1)	1,688	10mo	$350,000	$207	63
2 Carson Ave	0.20mi	5/3.0 (-1)	2,396	9mo	$375,000	$157	61
145 Renwick St	0.18mi	5/3.0 (-1)	2,760	14mo	$285,000	$103	58
186 S William St	0.34mi	5/3.0 (-1)	2,160	8mo	$408,000	$189	56
22 City Ter	0.66mi	6/4.0	1,891	3mo	$80,000	$42	54
4 Grand St	0.50mi	5/4.0 (-1)	3,360	7mo	$849,000	$253	54
138 Benkard Ave	0.36mi	5/2.0 (-1)	2,004	15mo	$200,000	$100	46
169 Liberty St	0.66mi	5/3.0 (-1)	—	7mo	$550,000	—	42
23 City Ter Unit A	0.66mi	5/2.0 (-1)	1,952	4mo	$280,000	$143	41
16 Lutheran St	0.65mi	6/2.0	2,508	13mo	$380,000	$152	38

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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-16,128
• Equity at exit: $57,405

10-year hold

• IRR: 2.6%
• Equity multiple: 1.17×
• Total profit: $18,224
• Equity at exit: $33,288

Cash invested: $107,800 (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 12550

• Home prices YoY: -33.3%
• Rents YoY: 0.6%
• Active inventory: 383
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $4,494 high
• Mortgage (P&I): −$2,019
• Tax est. 1.5%: −$481 /mo · $5,775/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$944
• Net cashflow: $890

Break-even live

Break-even rent $3,368

Max offer price $385,000

Occupancy floor 75%

Sensitivity live

Price	-10% $1,156	-5% $1,023	+0% $890	+5% $757	+10% $624
Rent	-10% $535	-5% $712	+0% $890	+5% $1,067	+10% $1,245
Rate	-1.0pp $1,083	-0.5pp $988	base $890	+0.5pp $790	+1.0pp $688

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,494
Total (2 units)			$4,494

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
87 Ellis Ave Newburgh, NY	5.0	2.5	2172	$2,500	$1.15	44d	1	1.23mi

Listing history 9 events

1. 2026-05-31
   days on market $385,000 Active 44 DOM
2. 2026-05-30
   days on market $385,000 Active 43 DOM
3. 2026-05-07
   price $385,000 2499-char remark

   Show marketing remark (2499 chars)

   PRICE IMPROVEMENT!! 72-1/2 Henry Avenue presents a standout opportunity in the heart of Newburgh’s Washington Heights neighborhood. Ideal for both owner-occupants and savvy investors seeking immediate income with future upside. Set on an oversized double lot, this legal two-family property with separate utilities offers approximately 1,452 square feet with two residential units plus an additional income-producing garage/storage rental, creating multiple revenue streams from day one. The first-floor apartment features a spacious 2-bedroom layout with backyard and deck access, while the second-floor unit is a vacant 1-bedroom perfect for a buyer looking to move right in or secure a new market-rate tenant. The extra-wide lot adds rare value and flexibility not often found in city properties. For an owner-occupant, this is the ultimate house-hack opportunity: live comfortably in the vacant unit while collecting rent from the occupied apartment and rented garage space. In many cases, the incoming rent can offset a substantial portion of your monthly mortgage, helping lower your housing expense while you build equity and long-term wealth. Instead of paying to live somewhere else, let your property work for you. For investors, the appeal is immediate cash flow with room to grow. With one occupied unit, one vacant unit ready for lease, and separate garage/storage income, the property offers three potential income channels. The double lot may also create future development potential, expansion possibilities, or added land value, subject to municipal approvals and zoning review. An exciting added benefit is the possibility of exploring RUPCO’s ADU (Accessory Dwelling Unit) grant programs or similar housing initiatives. Because the property sits on a double lot, eligible buyers may wish to investigate whether adding an accessory unit, cottage, or additional housing structure could be possible. Programs like these can help create more housing while increasing long-term property value, subject to qualifications, approvals, and local regulations. Located near Newburgh’s waterfront dining scene, parks, shopping, major commuter routes, and ferry access to Metro-North Railroad via Beacon, this property combines location, flexibility, and income potential in one smart purchase. Whether you're looking to reduce your living costs, build your portfolio, or unlock future development possibilities, 72-1/2 Henry Avenue is a rare find, book your tour today!

4. 2026-04-16
   listed $389,000 Active 2499-char remark

   Show marketing remark (2499 chars)

   PRICE IMPROVEMENT!! 72-1/2 Henry Avenue presents a standout opportunity in the heart of Newburgh’s Washington Heights neighborhood. Ideal for both owner-occupants and savvy investors seeking immediate income with future upside. Set on an oversized double lot, this legal two-family property with separate utilities offers approximately 1,452 square feet with two residential units plus an additional income-producing garage/storage rental, creating multiple revenue streams from day one. The first-floor apartment features a spacious 2-bedroom layout with backyard and deck access, while the second-floor unit is a vacant 1-bedroom perfect for a buyer looking to move right in or secure a new market-rate tenant. The extra-wide lot adds rare value and flexibility not often found in city properties. For an owner-occupant, this is the ultimate house-hack opportunity: live comfortably in the vacant unit while collecting rent from the occupied apartment and rented garage space. In many cases, the incoming rent can offset a substantial portion of your monthly mortgage, helping lower your housing expense while you build equity and long-term wealth. Instead of paying to live somewhere else, let your property work for you. For investors, the appeal is immediate cash flow with room to grow. With one occupied unit, one vacant unit ready for lease, and separate garage/storage income, the property offers three potential income channels. The double lot may also create future development potential, expansion possibilities, or added land value, subject to municipal approvals and zoning review. An exciting added benefit is the possibility of exploring RUPCO’s ADU (Accessory Dwelling Unit) grant programs or similar housing initiatives. Because the property sits on a double lot, eligible buyers may wish to investigate whether adding an accessory unit, cottage, or additional housing structure could be possible. Programs like these can help create more housing while increasing long-term property value, subject to qualifications, approvals, and local regulations. Located near Newburgh’s waterfront dining scene, parks, shopping, major commuter routes, and ferry access to Metro-North Railroad via Beacon, this property combines location, flexibility, and income potential in one smart purchase. Whether you're looking to reduce your living costs, build your portfolio, or unlock future development possibilities, 72-1/2 Henry Avenue is a rare find, book your tour today!

5. 2026-04-04
   historical
6. 2026-03-14
   listed $399,000 Active
7. 2025-07-01
   historical
8. 2025-05-21
   price $425,000
9. 2025-04-10
   listed $435,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,928
• − Mortgage interest: −$21,566
• − Property taxes: −$5,775
• − Insurance: −$1,925
• − Repairs & maintenance: −$4,314
• − Management: −$4,314
• − Depreciation: −$11,200
• Taxable income: $4,834
• Est. tax owed @ 24.0%: −$1,160
• After-tax cash flow: $9,515/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

This two-family property offers a moderate rehab opportunity with average condition and potential for significant value increase through updates.

Repairs flagged

• Minor kitchen cabinets — dated and in need of updating
• Minor bathroom fixtures — basic and outdated
• Minor landscaping — overgrown yard needs trimming

Value-add opportunities

• Resale paint interior walls — fresh paint enhances curb appeal
• Resale replace kitchen cabinets — new cabinets improve functionality and aesthetics
• Resale update bathroom fixtures — modern fixtures increase appeal and functionality
• Both landscaping — trimmed yard enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Minor	$500–3,000
bathroom fixtures · basic and outdated	Minor	$500–3,000
landscaping · overgrown yard needs trimming	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale paint interior walls — fresh paint enhances curb appeal ↑
• Resale replace kitchen cabinets — new cabinets improve functionality and aesthetics ↑
• Resale update bathroom fixtures — modern fixtures increase appeal and functionality ↑
• Both landscaping — trimmed yard enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Newburgh City School District
• NCES district ID: 3620700
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 48% ▲ 10.00%
• Median HH income: $56,387
• Composite: 35.46/100
• National rank: #4927
• State rank: #500 of 590 in NY

Livability — Newburgh

• Score: 62/100
• State rank: #878
• US rank: #17021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newburgh, NY
• County: Orange County · 267,004 people
• City population: 55,152
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 55,152
• Household income: $85,697
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2412.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 39% White 36% Black 20% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 18% · Canada, Dominican Republic
• Languages at home: 64% English-only · Spanish 30% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.93%
• Current HPI: 304.1046
• Rent YoY: ▲ 0.63%
• 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

-11.5% since first listed

7 events — show timeline

• 2026-05-07 Price Changed $385,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-16 Listed $389,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-14 Listed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-21 Price Changed $425,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-10 Listed $435,000 OneKey® MLS as Distributed by MLS Grid