7 Berry St · Wallkill, NY 12589

$419,000

4 bd · 2.0 ba · 2,000 sqft · MultiFamily public records · 20 Days on market

Built 1923 4,625 sqft lot Est $476k · 12% under

---

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 +16.4/30.0
• ARV discount +12.9/15.0
• Appreciation +10.0/10.0
• DSCR +5.1/10.0
• Schools +4.9/10.0
• 1% rule +4.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Charming two-family home located in the Hamlet of Wallkill on a quiet street in a quaint neighborhood. This property offers a wonderful opportunity for owner-occupants or investors alike. Live in one unit and collect rent from the other to help offset the mortgage, or add this to your investment portfolio. One side is currently vacant and ready for updates, allowing you to make it your own, while the second unit is occupied by a long-time tenant. Enjoy being close to local farm markets, wineries, breweries, hiking, the Rail Trail, and all the beauty the Hudson Valley has to offer. A great opportunity in a desirable Wallkill location.

Key facts

• Quiet street
• Wineries
• Local farm markets

Tags

• TWO-FAMILY HOME
• HAMLET OF WALLKILL
• QUIET STREET
• QUAINT NEIGHBORHOOD
• LOCAL FARM MARKETS
• WINERIES

Property features AI

Exterior

• Parking: Driveway parking; Off-street parking; Shared driveway
• Utilities: Public sewer; Cable available; Electricity available; Natural gas connected; Private trash collection
• Home design: Duplex; Approximately 2,000 total building area
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront; No additional parcels

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating; No central air
• Interior features: Washer/dryer hookup; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $419k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive. Per door: $118/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 $390k (6.9% below list).
• Recommended offer: $390k (6.9% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 1.8% in Wallkill — 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 66/100 on livability (#630 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment A-; Watch: cost of living C-, amenities F, commute F.
• Wallkill Central School District (suburban): math 54% / reading 56% proficiency, ranked #279 of 590 in NY (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ostrander Elementary School (math 37% / reading 72%, grade C, #908 of 2,108 statewide, top 46%, 439 students, 29% FRL); John G Borden Middle School (math 32% / reading 47%, grade F, #418 of 729 statewide, top 59%, 432 students, 37% FRL); Wallkill Senior High School (math 97% / reading 75%, grade A, #347 of 1,100 statewide, top 32%, 1,004 students, 34% FRL).
• Market conditions: 100 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• In year one you build about $45k of equity ($3k loan paydown + $42k appreciation (10.0% local appreciation)).
• Ulster County population projected at -14% 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 $117k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$72k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($413k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1923 — 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 $390,000 (6.9% 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 1923 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.93% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $476,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Berry St	0.01mi	4/2.0	1,845 (-8%)	7mo	$440,000	$238	81

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: 26.0%
• Equity multiple: 3.07×
• Total profit: $243,220
• Equity at exit: $377,468

10-year hold

• IRR: 22.8%
• Equity multiple: 7.01×
• Total profit: $704,508
• Equity at exit: $814,025

Cash invested: $117,320 (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 12589

• Home prices YoY: 5.2%
• Active inventory: 100
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $3,900 medium
• Mortgage (P&I): −$2,197
• Tax from tax record: −$474 /mo · $5,685/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$819
• Net cashflow: $235

Break-even live

Break-even rent $3,602

Max offer price $419,000

Occupancy floor 89%

Sensitivity live

Price	-10% $473	-5% $354	+0% $235	+5% $117	+10% $-2
Rent	-10% $-73	-5% $81	+0% $235	+5% $389	+10% $544
Rate	-1.0pp $446	-0.5pp $342	base $235	+0.5pp $127	+1.0pp $16

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,900
Total (2 units)			$3,900

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $419,000 Active 20 DOM
2. 2026-06-17
   days on market $419,000 Active 19 DOM
3. 2026-06-16
   days on market $419,000 Active 18 DOM
4. 2026-06-15
   pricedays on market $419,000 Active 17 DOM
5. 2026-06-14
   days on market $425,000 Active 15 DOM
6. 2026-06-13
   days on market $425,000 Active 14 DOM
7. 2026-06-10
   days on market $425,000 Active 12 DOM
8. 2026-06-09
   days on market $425,000 Active 11 DOM
9. 2026-06-08
   days on market $425,000 Active 10 DOM
10. 2026-06-07
    days on market $425,000 Active 9 DOM
11. 2026-06-05
    days on market $425,000 Active 6 DOM
12. 2026-06-03
    days on market $425,000 Active 5 DOM
13. 2026-06-02
    days on market $425,000 Active 4 DOM
14. 2026-06-01
    days on market $425,000 Active 3 DOM
15. 2026-05-31
    days on market $425,000 Active 2 DOM
16. 2026-05-30
    remarks 641-char remark
17. 2026-05-30
    listed $425,000 Active 1 DOM

ⓘ 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: $5,685 · $474/mo
• Projected year-2 tax: $6,383 · $532/mo
• Expected delta: +$698/yr (+$58/mo · 12.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,800
• − Mortgage interest: −$23,471
• − Property taxes: −$5,685
• − Insurance: −$2,095
• − Repairs & maintenance: −$3,744
• − Management: −$3,744
• − Depreciation: −$12,189
• Taxable loss: −$4,127
• Est. tax savings @ 24.0%: +$991
• After-tax cash flow: $3,815/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: Wallkill Central School District
• NCES district ID: 3629790
• Math proficiency: 54% ▼ -7.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $72,323
• Composite: 49.06/100
• National rank: #2057
• State rank: #279 of 590 in NY

Livability — Wallkill

• Score: 66/100
• State rank: #630
• US rank: #11565

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wallkill, NY
• Population (ZIP): 19,639

Population outlook (Ulster County) Hauer SSP2

• Today (2025): 175,887 people
• By 2030: 171,876 · -2.3%
• By 2040: 161,771 · -8.0%
• By 2050: 151,470 · -13.9%
• By 2075: 133,023 · -24.4%
• By 2100: 113,504 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 63% Hispanic / Latino 20% Two or more races 13% Black 9%
• Hispanic origin (detail): Mexican 4% Puerto Rican 8% Dominican 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 8% · Canada
• Languages at home: 81% English-only · Spanish 15% Other Indo-European 2%

Political lean MEDSL · Ulster

• 2024 margin: D (+18.7) · D 59.3% · R 40.7%
• 2008→2024 swing: -4.9pp toward R · 2008: 23.6pp · 2024: 18.7pp
• All cycles: 2024: D+18.7 2020: D+20.9 2016: D+9.1 2012: D+21.9 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.97%
• Current HPI: 323.1502
• 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

1 event — show timeline

• 2026-05-17 Listed $425,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+1.7%/yr

Latest (2025): $5,685 · +2.5% YoY. Source: county tax records.