356-358 State St · Hudson, NY 12534

$679,900

9 bd · 9.0 ba · 1,772 sqft · MultiFamily · 18 Days on market

Built 1890 Good condition 6,098 sqft lot

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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 +17.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Rent growth +5.0/5.0
• 1% rule +4.8/10.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0

Multi-family units

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

Listing remarks

Fabulous owner-occupied or investment opportunity in the heart of Hudson on a double lot. This charming three-family home is just two blocks north of Warren Street's shops and restaurants, one block from the Armory, and a short walk to the train station -- an ideal downtown location. Each unit offers flexible living arrangements: the first- and second-floor apartments are both one-bedroom layouts with an additional office/guest room, living room, kitchen and bath. The lower-level unit is a bright, updated studio with plenty of natural light. The first and second floors have separate utilities, allowing flexible rental or owner-occupancy options. Live in one unit and have more than half your

Key facts

• Separate utilities
• Garden potential
• Updated studio

Tags

• DOUBLE LOT
• MULTI-TIERED DECK
• SEPARATE UTILITIES
• UPDATED STUDIO
• GARAGE AND WORKSHOP
• GARDEN POTENTIAL

Property features AI

Exterior

• Parking: On-street parking; One garage space
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Triplex
• Construction: Aluminum siding and wood frame construction; Brick and stone foundation
• Exterior features: Back yard; Not waterfront

Interior

• Bedrooms: Two 1-bedroom units
• Flooring: Laminate; Linoleum; Wood
• Bathrooms: Three full bathrooms (total)
• Heating & cooling: Forced air heating; Hot water heating; Natural gas heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Deck

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1.0-bath units multifamily listed at $680k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $571 ($7k/yr) — positive. Per door: $190/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 $667k (1.9% below list).
• Recommended offer: $667k (1.9% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.3% in 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 70/100 on livability (#430 in NY) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+; Watch: commute F, employment F.
• Hudson City School District (town): math 38% / reading 47% proficiency, ranked #494 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hudson High School (math 82% / reading 84%, grade A, #435 of 1,100 statewide, top 40%, 454 students, 57% FRL).
• Zoned-school proficiency averages 83% at this address vs 42% district-wide (+41 pts) — the actual schools serving this property are materially stronger than the Hudson City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+10.9%/yr); 161 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• At $6,670/mo this rent would consume 110% of the median local household income ($73k/yr) (locally 1083% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $73k of equity ($5k loan paydown + $68k appreciation (10.0% local appreciation)).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $190k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$117k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($670k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $667,000 (1.9% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.60%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 3.32×
• Total profit: $441,987
• Equity at exit: $612,508

10-year hold

• IRR: 26.6%
• Equity multiple: 8.15×
• Total profit: $1,360,524
• Equity at exit: $1,320,896

Cash invested: $190,372 (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 12534

• Home prices YoY: 5.6%
• Rents YoY: 10.9%
• Active inventory: 161
• Price-to-rent: 25.5×

Monthly cashflow live

• Estimated rent: $6,670 high
• Mortgage (P&I): −$3,565
• Tax est. 1.5%: −$850 /mo · $10,198/yr
• Insurance: −$283
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,401
• Net cashflow: $571

Break-even live

Break-even rent $5,948

Max offer price $679,900

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$6,669
Total (3 units)			$6,670

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: $169,975
• Closing costs: $20,397
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $679,900 Active 18 DOM
2. 2026-06-18
   days on market $679,900 Active 17 DOM
3. 2026-06-17
   days on market $679,900 Active 16 DOM
4. 2026-06-16
   days on market $679,900 Active 15 DOM
5. 2026-06-15
   days on market $679,900 Active 14 DOM
6. 2026-06-14
   days on market $679,900 Active 12 DOM
7. 2026-06-12
   days on market $679,900 Active 11 DOM
8. 2026-06-09
   days on market $679,900 Active 8 DOM
9. 2026-06-08
   days on market $679,900 Active 7 DOM
10. 2026-06-07
    days on market $679,900 Active 6 DOM
11. 2026-06-04
    days on market $679,900 Active 2 DOM
12. 2026-06-01
    remarks 699-char remark
13. 2026-06-01
    listed $679,900 Active 1 DOM

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $80,040
• − Mortgage interest: −$38,085
• − Property taxes: −$10,198
• − Insurance: −$3,400
• − Repairs & maintenance: −$6,403
• − Management: −$6,403
• − Depreciation: −$19,779
• Taxable loss: −$4,228
• Est. tax savings @ 24.0%: +$1,015
• After-tax cash flow: $7,863/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 · 13 photos

Good 75/100 Cosmetic rehab

This charming three-family home in Hudson is in good condition with a good condition score of 75. It offers flexible living arrangements and is located in a prime downtown location. The front porch and trim could be painted to enhance curb appeal and increase its value.

Value-add opportunities

• Both Paint the front porch and trim — Enhances curb appeal and can increase both resale and rental value.
• Both Update the kitchen appliances — Modernizing the kitchen can attract more buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the front porch and trim — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Update the kitchen appliances — Modernizing the kitchen can attract more buyers and renters. ↑

ⓘ 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: Hudson City School District
• NCES district ID: 3614940
• Math proficiency: 38% ▲ 4.00%
• Reading proficiency: 47% ▲ 7.00%
• Median HH income: $44,663
• Composite: 36.03/100
• National rank: #4779
• State rank: #494 of 590 in NY

Livability — Hudson

• Score: 70/100
• State rank: #430
• US rank: #7443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hudson, NY
• County: Columbia County · 17,176 people
• City population: 17,176
• Metro: Hudson, NY
• Population (ZIP): 17,176
• Household income: $72,741
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1083.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 58,662 people
• By 2030: 56,557 · -3.6%
• By 2040: 51,324 · -12.5%
• By 2050: 45,790 · -21.9%
• By 2075: 35,232 · -39.9%
• By 2100: 25,846 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 7% Black 7% Hispanic / Latino 7% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Iranian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Chinese 1%

Political lean MEDSL · Columbia

• 2024 margin: D (+14.7) · D 57.4% · R 42.6%
• 2008→2024 swing: +1.3pp toward D · 2008: 13.4pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+16.7 2016: D+1.4 2012: D+11.7 2008: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.98%
• Current HPI: 490.0412
• Rent YoY: ▲ 10.88%
• Metro: Hudson, 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

1 event — show timeline

• 2026-05-29 Listed $679,900 OneKey® MLS as Distributed by MLS Grid