10 Smith St · Monticello, NY 12701

$325,000

4 bd · 3.0 ba · 2,244 sqft · MultiFamily public records · 38 Days on market

Built 1946 7,200 sqft lot Est $301k · 8% over

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +3.9/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Great Investment Opportunity! Well-kept triplex located at 10 Smith Street in Monticello. This income-generating property includes three separate units, offering excellent potential for steady cash flow. Two of the units are currently ready and active, while the one-bedroom unit needs some updates—creating a great opportunity for an investor to add value and boost future rental income. Conveniently situated close to shopping, dining, and local amenities. A strong addition to any investment portfolio—don’t miss out!

Key facts

• Close to dining
• Triplex
• Three separate units

Tags

• TRIPLEX
• INCOME GENERATING PROPERTY
• THREE SEPARATE UNITS
• POTENTIAL FOR STEADY CASH FLOW
• CLOSE TO SHOPPING
• CLOSE TO DINING

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: Driveway; Off-street parking; 2-car garage
• Utilities: Public sewer; Utilities: See remarks
• Home design: Triplex
• Construction: Aluminum siding and frame construction
• Exterior features: Aluminum siding; Frame construction; Not waterfront

Interior

• Bedrooms: Two 3-bedroom units
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating; Other heating; No central cooling
• Interior features: Other interior features; Full basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/0.7-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $457/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $325k).
• Recommended offer: $315k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 3.4% in Monticello — 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 (#899 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: crime D, amenities F, commute F.
• Monticello Central School District (town): math 29% / reading 30% proficiency, ranked #577 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: George L Cooke School (592 students, 71% FRL); Robert J Kaiser Middle School (math 7% / reading 35%, grade F, #661 of 729 statewide, top 91%, 595 students, 66% FRL); Monticello High School (math 82% / reading 34%, grade C, #879 of 1,100 statewide, top 80%, 844 students, 63% FRL) — zoned schools average 67% FRL vs 50% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 186 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 739 units permitted in Sullivan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Sullivan County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $30k; list at $325k implies a 983% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $315,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1946 — 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 F-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 D 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: 1.44% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.07%
• DSCR: 1.80
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $300,696
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 Landfield Ave	0.21mi	5/3.0 (+1)	2,240 (-0%)	22mo	$300,000	$134	67

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.7%
• Equity multiple: 3.91×
• Total profit: $264,416
• Equity at exit: $292,786

10-year hold

• IRR: 32.5%
• Equity multiple: 8.80×
• Total profit: $710,236
• Equity at exit: $631,404

Cash invested: $91,000 (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 12701

• Home prices YoY: 16.7%
• Active inventory: 186
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $4,667 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$477 /mo · $5,718/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$980
• Net cashflow: $1,371

Break-even live

Break-even rent $2,932

Max offer price $325,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	0.7	$4,668
Total (3 units)			$4,667

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Clinton Ave Apt 1 Monticello, NY	3.0	2.0	1470	$2,300	$1.56	43d	1	0.56mi

Listing history 13 events

1. 2026-04-28
   status Pending
2. 2026-04-12
   status Active
3. 2026-03-09
   listed $325,000 Active
4. 2026-02-16
   status Pending
5. 2026-02-16
   historical
6. 2025-12-17
   listed $325,000 Active
7. 2011-07-08
   soldstatus $30,000
8. 2010-08-20
   soldstatus $30,000
9. 2010-07-30
   historical
10. 2010-03-09
    listed $39,000
11. 2006-11-28
    soldstatus $200,000
12. 2004-02-09
    soldstatus $51,000
13. 1998-04-03
    soldstatus $30,000

ⓘ 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: $5,718 · $477/mo
• Projected year-2 tax: $5,718 · $477/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,004
• − Mortgage interest: −$18,205
• − Property taxes: −$5,718
• − Insurance: −$1,625
• − Repairs & maintenance: −$4,480
• − Management: −$4,480
• − Depreciation: −$9,455
• Taxable income: $12,041
• Est. tax owed @ 24.0%: −$2,890
• After-tax cash flow: $13,558/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: Monticello Central School District
• NCES district ID: 3619740
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 30% ▼ -2.00%
• Median HH income: $44,696
• Composite: 25.28/100
• National rank: #7491
• State rank: #577 of 590 in NY

Livability — Monticello

• Score: 61/100
• State rank: #899
• US rank: #17510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monticello, NY
• County: Sullivan County · 12,197 people
• City population: 12,197
• Metro: nan
• Population (ZIP): 12,197
• Household income: $57,222
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 814.0

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 68,974 people
• By 2030: 65,609 · -4.9%
• By 2040: 58,878 · -14.6%
• By 2050: 52,500 · -23.9%
• By 2075: 39,941 · -42.1%
• By 2100: 28,880 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 43% Hispanic / Latino 31% Black 15% Two or more races 15% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 19% Dominican 3%
• Common ancestry: Scotch-Irish 3% Romanian 2% Iranian 1%
• Foreign-born: 15% · Canada, China, Jamaica
• Languages at home: 71% English-only · Spanish 20% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Sullivan

• 2024 margin: R (+16.7) · D 41.6% · R 58.4%
• 2008→2024 swing: -26.2pp toward R · 2008: 9.5pp · 2024: -16.7pp
• All cycles: 2024: R+16.7 2020: R+9.2 2016: R+13.7 2012: D+10.4 2008: D+9.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 72.71%
• Current HPI: 507.739
• Rent YoY: —
• Metro: nan
• 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

+983.3% since first listed

13 events — show timeline

• 2026-04-28 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-12 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-03-09 Listed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2026-02-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-17 Listed $325,000 OneKey® MLS as Distributed by MLS Grid
• 2011-07-08 Sold (Public Records) $30,000 Public Records
• 2010-08-20 Sold (MLS) $30,000 HGMLS
• 2010-07-30 Delisted — HGMLS
• 2010-03-09 Listed $39,000 HGMLS
• 2006-11-28 Sold (Public Records) $200,000 Public Records
• 2004-02-09 Sold (Public Records) $51,000 Public Records
• 1998-04-03 Sold (Public Records) $30,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $5,718 · +74.7% YoY. Source: county tax records.