3 Hammond St · Monticello, NY 12701

$380,000

4 bd · 2.0 ba · 2,064 sqft · MultiFamily public records · 59 Days on market

Built 1942 5,600 sqft lot $184/sqft · 25% below area Est $510k · 25% under

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Why this score? — see what drove the A- 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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.3/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Well-maintained legal two-family home offering a practical layout with separate living spaces. Each unit features 2 bedrooms with comfortable accommodations, and the property includes individual gas and electric meters. There is a partially finished basement with a washer and dryer. Fire Scape Stairs that leads from full usable attic to the outside. Rich in old-world charm, the home boasts beautiful hardwood floors throughout. The first floor features two bedrooms, a full bath, and a comfortable living and dining room. The second floor offers two bedrooms as well a living room and full bathroom — perfect for extra income. Situated on a nicely maintained property with outdoor space to enjoy, and conveniently located near shopping, transportation, parks, and local amenities. A solid opportunity to own a multi-unit property with flexibility and value.

Key facts

• Maintained gardens
• Close to parks
• Beautiful lakes

Tags

• HARDWOOD FLOORS
• MAINTAINED GARDENS
• BACK PATIO
• CLOSE TO SHOPPING
• CLOSE TO PARKS
• BEAUTIFUL LAKES

Property features AI

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public sewer; Cable connected; Electricity connected; Sewer connected
• Home design: Single-family residence; Two stories; Property condition: Actual
• Construction: Asbestos siding; Clapboard and frame construction; Other/unknown exterior materials; Other foundation
• Exterior features: Back yard; Front yard; Cleared lot; Level lot; Paved surfaces; Not waterfront

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two levels (bedrooms on multiple levels)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Oil-fired heating
• Interior features: First-floor bedroom; Eat-in kitchen; Entrance foyer; Formal dining room; Full attic; Full unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $380k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $380k).
• Recommended offer: $369k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: 187 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 $41k of equity ($3k loan paydown + $38k 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 $106k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $43k; list at $380k implies a 784% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $368,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.23% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.53%
• DSCR: 1.60
• GRM: 6.8

CMA / ARV

• ARV (median comp): $509,661
• List price: $380,000
• Delta: -25.44%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 High St	0.46mi	4/2.0	1,904 (-8%)	22mo	$249,000	$131	48
25 Landfield Ave	0.29mi	5/3.0 (+1)	2,240 (+8%)	22mo	$300,000	$134	45
66 Clinton Ave	0.48mi	4/2.5	1,796 (-13%)	19mo	$290,800	$162	38

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: 34.2%
• Equity multiple: 3.66×
• Total profit: $283,331
• Equity at exit: $342,334

10-year hold

• IRR: 29.5%
• Equity multiple: 8.28×
• Total profit: $774,267
• Equity at exit: $738,256

Cash invested: $106,400 (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: 187
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $4,670 high
• Mortgage (P&I): −$1,993
• Tax from tax record: −$339 /mo · $4,066/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$981
• Net cashflow: $1,199

Break-even live

Break-even rent $3,152

Max offer price $380,000

Occupancy floor 69%

Sensitivity live

Price	-10% $1,414	-5% $1,307	+0% $1,199	+5% $1,092	+10% $984
Rent	-10% $830	-5% $1,015	+0% $1,199	+5% $1,384	+10% $1,568
Rate	-1.0pp $1,391	-0.5pp $1,296	base $1,199	+0.5pp $1,101	+1.0pp $1,001

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,668
Total (3 units)			$4,670

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: $95,000
• Closing costs: $11,400
• 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	44d	1	0.45mi

Listing history 18 events

1. 2026-06-21
   days on market $380,000 Active 59 DOM
2. 2026-06-18
   days on market $380,000 Active 56 DOM
3. 2026-06-17
   days on market $380,000 Active 55 DOM
4. 2026-06-16
   days on market $380,000 Active 54 DOM
5. 2026-06-15
   days on market $380,000 Active 53 DOM
6. 2026-06-14
   days on market $380,000 Active 51 DOM
7. 2026-06-10
   days on market $380,000 Active 48 DOM
8. 2026-06-09
   days on market $380,000 Active 47 DOM
9. 2026-06-08
   days on market $380,000 Active 46 DOM
10. 2026-06-07
    days on market $380,000 Active 45 DOM
11. 2026-06-03
    days on market $380,000 Active 41 DOM
12. 2026-06-02
    days on market $380,000 Active 40 DOM
13. 2026-06-01
    remarks 693-char remark
14. 2026-06-01
    days on market $380,000 Active 39 DOM
15. 2026-05-31
    days on market $380,000 Active 38 DOM
16. 2026-05-31
    days on market $380,000 Active 37 DOM
17. 2026-04-23
    listed $380,000 Active 1179-char remark
18. 1992-06-19
    soldstatus $43,000

ⓘ 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: $4,066 · $339/mo
• Projected year-2 tax: $5,244 · $437/mo
• Expected delta: +$1,178/yr (+$98/mo · 29.0%)

ⓘ 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 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: $56,040
• − Mortgage interest: −$21,286
• − Property taxes: −$4,066
• − Insurance: −$1,900
• − Repairs & maintenance: −$4,483
• − Management: −$4,483
• − Depreciation: −$11,055
• Taxable income: $8,767
• Est. tax owed @ 24.0%: −$2,104
• After-tax cash flow: $12,288/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

+783.7% since first listed

3 events — show timeline

• 2026-06-12 Listed $380,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-23 Listed $380,000 OneKey® MLS as Distributed by MLS Grid
• 1992-06-19 Sold (Public Records) $43,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $4,066 · +5.6% YoY. Source: county tax records.