324-326 Church St · Poughkeepsie, NY 12601

$454,900

3 bd · 2.0 ba · 2,708 sqft · MultiFamily public records · 222 Days on market

Built 1921 4,792 sqft lot $168/sqft · 27% below area Est $626k · 27% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• 1% rule +4.7/10.0
• DSCR +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• 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

INCOME PRODUCING OPPORTUNITY! MORE PHOTOS TO COME...PLEASE DON’T WAIT TO TOUR. THIS MIGHT BE GONE SOON! AMAZING DUPLEX OPPORTUNITY OFFERING ATTACHED TOWNHOUSE STYLE RESIDENCE THAT IS PERFECT FOR OWNER-OCCUPANTS OR INVESTORS ALIKE. EACH UNIT IS PRESENTLY UNDERGOING ITS INDIVIDUAL REFRESH AND UPDATES. ENJOY THE COMFORT OF HOME AND PRIVACY AS EACH UNIT IS OFFERING ITS OWN PRIVATE ENTRANCE, LIVING ROOM, DINING ROOM, KITCHEN, ENCLOSED PORCH FOR RELAXING ON THE FIRST FLOOR AND 3 BEDROOMS/FULL BATH ON THE SECOND FLOOR ACCESSIBLE TO A FULL SPACIOUS ATTIC. FOR ADDITIONAL STORAGE NEEDS THE FULL BASEMENT OFFERS AMPLE SPACE. THE RIGHT SIDE WILL BE DELIVERED WITH FULLY UPDATED WITH MODERN KITCHEN AND BATHROOM, LIGHT FIXTURES, AND MORE. THE LEFT SIDE ENCOMPASSES FRESH PAINT, KITHEN WITH GENEROUS CABINETRY, AND EASY TO MAINTAIN FLOORING. BOTH UNITS COME EQUIPPED WITH STAINLESS STEEL KITCHEN APPLIANCES. SEPARATE UTILITIES, UPDATED ENERGY EFFICIENT WINDOWS, ELECTRIC, MUNICIPAL WATER/SEWER ROUND OUT THIS PACKAGE. CONVENIENTLY LOCATED WITH EASY ACCESS TO COMMUTER ROUTES, MTA METRO NORTH TRAIN STATION, BUSES, SHOPPING, DINING, AND ENTERTAINMENT. A MUST SEE TO APPRECIATE. MAKE THE CALL TODAY TO SCHEDULE A PRIVATE TOUR.

Key facts

• 4,792 sq ft lot
• Built 1921
• Listed 222 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $455k.

Deal economics

• At list price, monthly cash flow is $70 ($842/yr) — positive. Per door: $35/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 $440k (3.2% below list).
• Recommended offer: $400k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 3.4% in Poughkeepsie — 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 78/100 on livability (#165 in NY, #2,577 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: employment D+, crime F.
• Poughkeepsie City School District (suburban): math 29% / reading 42% proficiency, ranked #559 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.7%/yr); 189 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $4,403/mo this rent would consume 83% of the median local household income ($64k/yr) (locally 2891% 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 $14k of value loss. Plan a longer hold.
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $130k; list at $455k implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $400,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 days. Have you received any prior offers? Is the seller open to a 12% 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 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.97% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 8.6

CMA / ARV

• ARV (median comp): $625,924
• List price: $454,900
• Delta: -27.32%
• 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
97 S Cherry St	0.07mi	4/— (+1)	2,800 (+3%)	16mo	$412,449	$147	72
11 Forbus St	0.26mi	4/2.0 (+1)	2,464 (-9%)	11mo	$448,500	$182	59
20 N White St	0.24mi	4/2.0 (+1)	2,322 (-14%)	13mo	$445,000	$192	49
150 Franklin St	0.45mi	4/2.0 (+1)	2,380 (-12%)	10mo	$325,000	$137	46
5 Hoffman Ave	0.56mi	4/2.0 (+1)	2,912 (+8%)	16mo	$410,000	$141	44
91 Smith St	0.46mi	4/2.0 (+1)	2,400 (-11%)	14mo	$285,000	$119	43
23 Musselman Dr	0.66mi	3/2.0	2,322 (-14%)	4mo	$429,000	$185	42
29 Cottage St	0.65mi	4/2.0 (+1)	2,976 (+10%)	10mo	$270,000	$91	40
63 Lent St	0.45mi	4/2.0 (+1)	2,344 (-13%)	15mo	$275,000	$117	39
102 South Ave	0.71mi	4/2.0 (+1)	2,450 (-10%)	10mo	$407,000	$166	38
70 N Hamilton St	0.65mi	4/2.0 (+1)	2,570 (-5%)	23mo	$360,000	$140	37
31 Holmes St	0.51mi	4/4.0 (+1)	2,332 (-14%)	22mo	$440,000	$189	21

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.48×
• Total profit: $-66,026
• Equity at exit: $67,827

10-year hold

• IRR: -4.4%
• Equity multiple: 0.70×
• Total profit: $-38,378
• Equity at exit: $39,331

Cash invested: $127,372 (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 12601

• Rents YoY: 3.7%
• Active inventory: 189
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $4,403 high
• Mortgage (P&I): −$2,386
• Tax from tax record: −$833 /mo · $9,997/yr
• Insurance: −$190
• HOA: −$0
• Vacancy / Maint / Mgmt: −$925
• Net cashflow: $70

Break-even live

Break-even rent $4,314

Max offer price $454,900

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,404
Total (2 units)			$4,403

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: $113,725
• Closing costs: $13,647
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Forbus St Poughkeepsie, NY	3.0	1.0	2140	$2,500	$1.17	23d	1	0.23mi
212 S Cherry St Unit 2 Poughkeepsie, NY	4.0	1.5	3100	$2,950	$0.95	13d	1	0.35mi
236 Mansion St #2 Poughkeepsie, NY	3.0	1.0	2076	$2,600	$1.25	43d	1	0.52mi
337 Main St Unit 2F Poughkeepsie, NY	2.0	2.0	1820	$2,100	$1.15	43d	1	0.53mi
155 N Clinton St Unit 1 Poughkeepsie, NY	2.0	1.0	1960	$2,500	$1.28	43d	1	0.89mi
16 Mansion St Poughkeepsie, NY	2.0	1.0	2192	$1,900	$0.87	23d	1	0.93mi
15 Taylor Ave Poughkeepsie, NY	2.0	1.0	2248	$2,000	$0.89	23d	1	1.13mi
32 Salt Point Tpke Poughkeepsie, NY	3.0	2.5	1761	$3,000	$1.70	21d	1	1.27mi

Listing history 10 events

1. 2026-06-05
   statusdays on market $454,900 Pending 222 DOM
2. 2026-06-03
   days on market $454,900 Active 221 DOM
3. 2026-06-02
   days on market $454,900 Active 220 DOM
4. 2026-06-01
   days on market $454,900 Active 219 DOM
5. 2026-05-31
   days on market $454,900 Active 218 DOM
6. 2026-05-30
   days on market $454,900 Active 217 DOM
7. 2026-03-27
   price $454,900 1226-char remark

   Show marketing remark (1226 chars)

   INCOME PRODUCING OPPORTUNITY! MORE PHOTOS TO COME...PLEASE DON’T WAIT TO TOUR. THIS MIGHT BE GONE SOON! AMAZING DUPLEX OPPORTUNITY OFFERING ATTACHED TOWNHOUSE STYLE RESIDENCE THAT IS PERFECT FOR OWNER-OCCUPANTS OR INVESTORS ALIKE. EACH UNIT IS PRESENTLY UNDERGOING ITS INDIVIDUAL REFRESH AND UPDATES. ENJOY THE COMFORT OF HOME AND PRIVACY AS EACH UNIT IS OFFERING ITS OWN PRIVATE ENTRANCE, LIVING ROOM, DINING ROOM, KITCHEN, ENCLOSED PORCH FOR RELAXING ON THE FIRST FLOOR AND 3 BEDROOMS/FULL BATH ON THE SECOND FLOOR ACCESSIBLE TO A FULL SPACIOUS ATTIC. FOR ADDITIONAL STORAGE NEEDS THE FULL BASEMENT OFFERS AMPLE SPACE. THE RIGHT SIDE WILL BE DELIVERED WITH FULLY UPDATED WITH MODERN KITCHEN AND BATHROOM, LIGHT FIXTURES, AND MORE. THE LEFT SIDE ENCOMPASSES FRESH PAINT, KITHEN WITH GENEROUS CABINETRY, AND EASY TO MAINTAIN FLOORING. BOTH UNITS COME EQUIPPED WITH STAINLESS STEEL KITCHEN APPLIANCES. SEPARATE UTILITIES, UPDATED ENERGY EFFICIENT WINDOWS, ELECTRIC, MUNICIPAL WATER/SEWER ROUND OUT THIS PACKAGE. CONVENIENTLY LOCATED WITH EASY ACCESS TO COMMUTER ROUTES, MTA METRO NORTH TRAIN STATION, BUSES, SHOPPING, DINING, AND ENTERTAINMENT. A MUST SEE TO APPRECIATE. MAKE THE CALL TODAY TO SCHEDULE A PRIVATE TOUR.

8. 2025-10-26
   listed $469,000 Active 1226-char remark

   Show marketing remark (1226 chars)

   INCOME PRODUCING OPPORTUNITY! MORE PHOTOS TO COME...PLEASE DON’T WAIT TO TOUR. THIS MIGHT BE GONE SOON! AMAZING DUPLEX OPPORTUNITY OFFERING ATTACHED TOWNHOUSE STYLE RESIDENCE THAT IS PERFECT FOR OWNER-OCCUPANTS OR INVESTORS ALIKE. EACH UNIT IS PRESENTLY UNDERGOING ITS INDIVIDUAL REFRESH AND UPDATES. ENJOY THE COMFORT OF HOME AND PRIVACY AS EACH UNIT IS OFFERING ITS OWN PRIVATE ENTRANCE, LIVING ROOM, DINING ROOM, KITCHEN, ENCLOSED PORCH FOR RELAXING ON THE FIRST FLOOR AND 3 BEDROOMS/FULL BATH ON THE SECOND FLOOR ACCESSIBLE TO A FULL SPACIOUS ATTIC. FOR ADDITIONAL STORAGE NEEDS THE FULL BASEMENT OFFERS AMPLE SPACE. THE RIGHT SIDE WILL BE DELIVERED WITH FULLY UPDATED WITH MODERN KITCHEN AND BATHROOM, LIGHT FIXTURES, AND MORE. THE LEFT SIDE ENCOMPASSES FRESH PAINT, KITHEN WITH GENEROUS CABINETRY, AND EASY TO MAINTAIN FLOORING. BOTH UNITS COME EQUIPPED WITH STAINLESS STEEL KITCHEN APPLIANCES. SEPARATE UTILITIES, UPDATED ENERGY EFFICIENT WINDOWS, ELECTRIC, MUNICIPAL WATER/SEWER ROUND OUT THIS PACKAGE. CONVENIENTLY LOCATED WITH EASY ACCESS TO COMMUTER ROUTES, MTA METRO NORTH TRAIN STATION, BUSES, SHOPPING, DINING, AND ENTERTAINMENT. A MUST SEE TO APPRECIATE. MAKE THE CALL TODAY TO SCHEDULE A PRIVATE TOUR.

9. 2025-10-21
   historical $469,000 1226-char remark

   Show marketing remark (1226 chars)

   INCOME PRODUCING OPPORTUNITY! MORE PHOTOS TO COME...PLEASE DON’T WAIT TO TOUR. THIS MIGHT BE GONE SOON! AMAZING DUPLEX OPPORTUNITY OFFERING ATTACHED TOWNHOUSE STYLE RESIDENCE THAT IS PERFECT FOR OWNER-OCCUPANTS OR INVESTORS ALIKE. EACH UNIT IS PRESENTLY UNDERGOING ITS INDIVIDUAL REFRESH AND UPDATES. ENJOY THE COMFORT OF HOME AND PRIVACY AS EACH UNIT IS OFFERING ITS OWN PRIVATE ENTRANCE, LIVING ROOM, DINING ROOM, KITCHEN, ENCLOSED PORCH FOR RELAXING ON THE FIRST FLOOR AND 3 BEDROOMS/FULL BATH ON THE SECOND FLOOR ACCESSIBLE TO A FULL SPACIOUS ATTIC. FOR ADDITIONAL STORAGE NEEDS THE FULL BASEMENT OFFERS AMPLE SPACE. THE RIGHT SIDE WILL BE DELIVERED WITH FULLY UPDATED WITH MODERN KITCHEN AND BATHROOM, LIGHT FIXTURES, AND MORE. THE LEFT SIDE ENCOMPASSES FRESH PAINT, KITHEN WITH GENEROUS CABINETRY, AND EASY TO MAINTAIN FLOORING. BOTH UNITS COME EQUIPPED WITH STAINLESS STEEL KITCHEN APPLIANCES. SEPARATE UTILITIES, UPDATED ENERGY EFFICIENT WINDOWS, ELECTRIC, MUNICIPAL WATER/SEWER ROUND OUT THIS PACKAGE. CONVENIENTLY LOCATED WITH EASY ACCESS TO COMMUTER ROUTES, MTA METRO NORTH TRAIN STATION, BUSES, SHOPPING, DINING, AND ENTERTAINMENT. A MUST SEE TO APPRECIATE. MAKE THE CALL TODAY TO SCHEDULE A PRIVATE TOUR.

10. 2017-10-25
    soldstatus $130,100

ⓘ 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: $9,997 · $833/mo
• Projected year-2 tax: $9,997 · $833/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 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,836
• − Mortgage interest: −$25,481
• − Property taxes: −$9,997
• − Insurance: −$2,274
• − Repairs & maintenance: −$4,227
• − Management: −$4,227
• − Depreciation: −$13,233
• Taxable loss: −$6,604
• Est. tax savings @ 24.0%: +$1,585
• After-tax cash flow: $2,427/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: Poughkeepsie City School District
• NCES district ID: 3623760
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 42% ▲ 12.00%
• Median HH income: $39,159
• Composite: 29.68/100
• National rank: #6459
• State rank: #559 of 590 in NY

Livability — Poughkeepsie

• Score: 78/100
• State rank: #165
• US rank: #2577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poughkeepsie, NY
• County: Dutchess County · 188,048 people
• City population: 86,468
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 44,164
• Household income: $63,652
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 2891.0

Population outlook (Dutchess County) Hauer SSP2

• Today (2025): 291,768 people
• By 2030: 287,131 · -1.6%
• By 2040: 274,881 · -5.8%
• By 2050: 259,971 · -10.9%
• By 2075: 235,366 · -19.3%
• By 2100: 208,786 · -28.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 17% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 79% English-only · Spanish 15% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Dutchess

• 2024 margin: Lean D (+5.4) · D 52.7% · R 47.3%
• 2008→2024 swing: -3.2pp toward R · 2008: 8.6pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+9.6 2016: R+1.1 2012: D+6.6 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.62%
• Current HPI: 293.9789
• Rent YoY: ▲ 3.67%
• 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

+249.7% since first listed

4 events — show timeline

• 2026-03-27 Price Changed $454,900 OneKey® MLS as Distributed by MLS Grid
• 2025-10-26 Listed $469,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-21 Coming Soon $469,000 OneKey® MLS as Distributed by MLS Grid
• 2017-10-25 Sold (Public Records) $130,100 Public Records

Property tax history

+14.2%/yr

Latest (2025): $9,997 · +32.0% YoY. Source: county tax records.