188 Linden Ave · Middletown, NY 10940

$269,000

3 bd · 1.0 ba · 1,091 sqft · SingleFamily public records · 42 Days on market

Built 1898 1,472 sqft lot $247/sqft · 24% below area Est $355k · 24% 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).

• Cash flow +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• Rent growth +4.6/5.0
• 1% rule +4.5/10.0
• Schools +4.2/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained ranch offering a practical and comfortable layout. The first floor features a spacious living room filled with natural light, a primary bedroom, plus two additional well-sized bedrooms, and a full bathroom. The lower level offers a large eat-in kitchen with a dedicated dining area, ideal for everyday living and entertaining, along with a spacious basement providing great storage and additional potential. Recent upgrades include a brand new hot water tank and a newly built entry porch, adding both value and curb appeal. Situated on a desirable corner lot with private driveway parking and low taxes. Perfect for both end-users and investors—move-in condition with great upside!

Key facts

• Large eat-in kitchen
• Spacious basement
• Corner lot

Tags

• SPACIOUS LIVING ROOM
• LARGE EAT-IN KITCHEN
• DEDICATED DINING AREA
• SPACIOUS BASEMENT
• PRIVATE DRIVEWAY PARKING
• CORNER LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (5.1% below list).
• Recommended offer: $255k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.3% in Middletown — 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 82/100 on livability (#79 in NY, #1,219 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: commute C-, schools D+.
• Middletown City School District (suburban): math 41% / reading 55% proficiency, ranked #411 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 273 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 35% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $75k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask is 13350% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $170k; list at $269k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — 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 $255,392 (5.1% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — 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 D-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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• GRM: 8.8

CMA / ARV

• ARV (median comp): $354,909
• List price: $269,000
• Delta: -24.21%
• 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
197 Highland Ave	0.17mi	3/1.5	1,131 (+4%)	10mo	$268,000	$237	76
127 Watkins Ave	0.25mi	3/1.0	1,136 (+4%)	7mo	$280,000	$246	76
15 Commonwealth Ave	0.47mi	3/1.0	1,092 (+0%)	5mo	$300,000	$275	74
13 Smith St	0.46mi	3/1.0	1,120 (+3%)	6mo	$230,000	$205	69
3 Chappell Pkwy	0.22mi	2/1.0 (-1)	1,016 (-7%)	8mo	$330,000	$325	67
108 Sproat St	0.43mi	2/1.0 (-1)	1,142 (+5%)	1mo	$285,000	$250	66
13 Church St	0.12mi	3/1.0	1,232 (+13%)	12mo	$230,000	$187	63
12 Eisenhower Dr	0.45mi	3/1.0	1,150 (+5%)	9mo	$375,000	$326	62
80 Beattie Ave	0.55mi	3/1.0	1,032 (-5%)	6mo	$200,000	$194	60
56 Beattie Ave	0.62mi	3/1.5	1,040 (-5%)	11mo	$301,000	$289	52
122 Cottage St	0.40mi	2/1.0 (-1)	1,201 (+10%)	11mo	$275,000	$229	50
24 Rhode Island Ave	0.69mi	2/2.0 (-1)	1,248 (+14%)	12mo	$210,000	$168	25

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.79×
• Total profit: $-15,537
• Equity at exit: $40,109

10-year hold

• IRR: 9.4%
• Equity multiple: 1.88×
• Total profit: $66,632
• Equity at exit: $23,258

Cash invested: $75,320 (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 10940

• Home prices YoY: -18.7%
• Rents YoY: 8.2%
• Active inventory: 273
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,554 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$266 /mo · $3,195/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $229

Break-even live

Break-even rent $2,265

Max offer price $269,000

Occupancy floor 86%

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
56 Wisner Ave Middletown, NY	3.0	1.0	1144	$2,500	$2.19	23d	1	0.03mi
184 Highland Ave Middletown, NY	4.0	2.0	1486	$3,500	$2.36	23d	1	0.15mi
90 Montgomery St Unit Upper Middletown, NY	2.0	1.0	900	$2,400	$2.67	23d	1	0.53mi
22 Sunnyside Ave Middletown, NY	2.0	1.0	928	$1,800	$1.94	43d	1	0.55mi
1 Dewitt St Middletown, NY	3.0	1.0	1127	$2,100	$1.86	43d	1	0.62mi
63 Broad St Middletown, NY	3.0	1.0	1088	$2,700	$2.48	23d	1	0.64mi
31 Beattie Ave #2 Middletown, NY	2.0	1.0	718	$2,000	$2.79	43d	1	0.67mi
3 Giada Ln Unit 2 Middletown, NY	2.0	1.0	950	$2,300	$2.42	43d	1	0.70mi
1 Giada Ln #5 Middletown, NY	2.0	1.0	950	$2,300	$2.42	43d	1	0.71mi
31 Liberty St Middletown, NY	2.0	1.0	1090	$2,000	$1.83	14d	1	0.80mi
132 Prospect Ave Middletown, NY	3.0	1.0	1240	$2,300	$1.85	43d	1	0.81mi
39 Crescent Pl Middletown, NY	3.0	1.0	1278	$2,500	$1.96	23d	1	0.88mi
11 Knapp Ave Apt 2 Middletown, NY	2.0	1.0	950	$2,500	$2.63	43d	1	0.89mi
28 North St #1 Middletown, NY	2.0	2.0	1200	$2,000	$1.67	43d	1	0.91mi
17 Academy Ave Unit 2 Middletown, NY	2.0	1.0	750	$1,850	$2.47	43d	1	0.92mi
118 W Main St Unit 1 Middletown, NY	3.0	1.0	1158	$2,350	$2.03	21d	1	0.93mi
126 W Main St Middletown, NY	3.0	1.0	900	$2,200	$2.44	21d	1	0.95mi
126 W Main St Unit 2 Middletown, NY	3.0	1.0	700	$2,200	$3.14	43d	1	0.95mi
128 W Main St Unit 2 Middletown, NY	3.0	2.0	880	$2,500	$2.84	43d	1	0.96mi
2 E Main St #5 Middletown, NY	3.0	1.0	1200	$1,850	$1.54	14d	1	0.97mi
700 Stratford Ln Middletown, NY	2.0	1.5	800	$2,200	$2.75	14d	1	0.98mi
26 Mill St Unit 2 Middletown, NY	3.0	2.0	1300	$2,600	$2.00	43d	1	1.07mi
26 Mill St Middletown, NY	3.0	2.0	1300	$2,600	$2.00	23d	1	1.07mi
23 Wawayanda Ave Middletown, NY	3.0	2.0	1072	$2,150	$2.01	43d	1	1.23mi
203 W Main St Unit 2 Middletown, NY	2.0	1.0	784	$1,700	$2.17	43d	1	1.29mi
225 Monhagen Ave Middletown, NY	3.0	1.0	1466	$2,700	$1.84	14d	1	1.30mi
169 Excelsior Ave Middletown, NY	3.0	1.5	1450	$2,800	$1.93	14d	1	1.40mi
151 Tall Oaks Dr Middletown, NY	1.0–3.0	1.0	920	$1,607	$1.75	14d	1	1.41mi
430 E Main St Middletown, NY	1.0–2.0	1.0–2.0	925	$2,750	$2.97	14d	9	1.46mi

Listing history 20 events

1. 2026-06-01
   days on market $269,000 Active 42 DOM
2. 2026-05-31
   days on market $269,000 Active 41 DOM
3. 2026-05-30
   days on market $269,000 Active 40 DOM
4. 2026-05-18
   listed $2,000
5. 2026-05-05
   price $269,000 724-char remark

   Show marketing remark (724 chars)

   Welcome to this well-maintained ranch offering a practical and comfortable layout. The first floor features a spacious living room filled with natural light, a primary bedroom, plus two additional well-sized bedrooms, and a full bathroom. The lower level offers a large eat-in kitchen with a dedicated dining area, ideal for everyday living and entertaining, along with a spacious basement providing great storage and additional potential. Recent upgrades include a brand new hot water tank and a newly built entry porch, adding both value and curb appeal. Situated on a desirable corner lot with private driveway parking and low taxes. Perfect for both end-users and investors—move-in condition with great upside!

6. 2026-04-15
   listed $279,000 Active 724-char remark

   Show marketing remark (724 chars)

   Welcome to this well-maintained ranch offering a practical and comfortable layout. The first floor features a spacious living room filled with natural light, a primary bedroom, plus two additional well-sized bedrooms, and a full bathroom. The lower level offers a large eat-in kitchen with a dedicated dining area, ideal for everyday living and entertaining, along with a spacious basement providing great storage and additional potential. Recent upgrades include a brand new hot water tank and a newly built entry porch, adding both value and curb appeal. Situated on a desirable corner lot with private driveway parking and low taxes. Perfect for both end-users and investors—move-in condition with great upside!

7. 2024-02-27
   historical $1,800
8. 2024-02-22
   listed $1,800
9. 2022-07-13
   soldstatus $170,000
10. 2018-05-29
    soldstatus $90,000
11. 2014-09-26
    soldstatus $60,000
12. 2014-09-25
    soldstatus $60,000 Sold 284-char remark

    Show marketing remark (284 chars)

    Great for first time home buyer or investment property. Features spacious living room with hardwood floors, 3 good size bedrooms. large kitchen. updated electric, newer roof , new replacement windows, beautiful corner lot. Home is in very good condition. Move in condition. Must see!

13. 2014-09-25
    price $60,000 284-char remark

    Show marketing remark (284 chars)

    Great for first time home buyer or investment property. Features spacious living room with hardwood floors, 3 good size bedrooms. large kitchen. updated electric, newer roof , new replacement windows, beautiful corner lot. Home is in very good condition. Move in condition. Must see!

14. 2014-09-25
    historical 284-char remark

    Show marketing remark (284 chars)

    Great for first time home buyer or investment property. Features spacious living room with hardwood floors, 3 good size bedrooms. large kitchen. updated electric, newer roof , new replacement windows, beautiful corner lot. Home is in very good condition. Move in condition. Must see!

15. 2014-09-25
    soldstatus $60,000

    Show marketing remark (284 chars)

    Great for first time home buyer or investment property. Features spacious living room with hardwood floors, 3 good size bedrooms. large kitchen. updated electric, newer roof , new replacement windows, beautiful corner lot. Home is in very good condition. Move in condition. Must see!

16. 2014-08-19
    historical Pending 284-char remark

    Show marketing remark (284 chars)

    Great for first time home buyer or investment property. Features spacious living room with hardwood floors, 3 good size bedrooms. large kitchen. updated electric, newer roof , new replacement windows, beautiful corner lot. Home is in very good condition. Move in condition. Must see!

17. 2014-08-19
    price $69,900 284-char remark

    Show marketing remark (284 chars)

    Great for first time home buyer or investment property. Features spacious living room with hardwood floors, 3 good size bedrooms. large kitchen. updated electric, newer roof , new replacement windows, beautiful corner lot. Home is in very good condition. Move in condition. Must see!

18. 2014-08-11
    listed $69,900 Active 284-char remark

    Show marketing remark (284 chars)

    Great for first time home buyer or investment property. Features spacious living room with hardwood floors, 3 good size bedrooms. large kitchen. updated electric, newer roof , new replacement windows, beautiful corner lot. Home is in very good condition. Move in condition. Must see!

19. 2014-08-11
    listed $69,900

    Show marketing remark (284 chars)

    Great for first time home buyer or investment property. Features spacious living room with hardwood floors, 3 good size bedrooms. large kitchen. updated electric, newer roof , new replacement windows, beautiful corner lot. Home is in very good condition. Move in condition. Must see!

20. 1979-07-06
    soldstatus $10,000

ⓘ 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: $3,195 · $266/mo
• Projected year-2 tax: $3,870 · $323/mo
• Expected delta: +$676/yr (+$56/mo · 21.1%)

ⓘ 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 ≥100°F today · 15 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: $30,647
• − Mortgage interest: −$15,068
• − Property taxes: −$3,195
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,452
• − Management: −$2,452
• − Depreciation: −$7,825
• Taxable loss: −$1,690
• Est. tax savings @ 24.0%: +$406
• After-tax cash flow: $3,149/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: Middletown City School District
• NCES district ID: 3619320
• Math proficiency: 41% ▼ -2.00%
• Reading proficiency: 55% ▲ 19.00%
• Median HH income: $54,612
• Composite: 41.52/100
• National rank: #3453
• State rank: #411 of 590 in NY

Livability — Middletown

• Score: 82/100
• State rank: #79
• US rank: #1219

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, NY
• County: Orange County · 267,004 people
• City population: 68,033
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 53,611
• Household income: $87,080
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1846.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 39% Hispanic / Latino 32% Black 20% Two or more races 13% Asian 4% Native American 3%
• Hispanic origin (detail): Mexican 9% Puerto Rican 13% Dominican 3%
• Common ancestry: Romanian 3% Italian 1% Iranian 1%
• Foreign-born: 18% · Canada, China, Jamaica
• Languages at home: 72% English-only · Spanish 21% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.68%
• Current HPI: 311.5969
• Rent YoY: ▲ 8.23%
• 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

-80.0% since first listed

17 events — show timeline

• 2026-05-18 Listed for Rent $2,000 LISTANZA
• 2026-05-05 Price Changed $269,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-15 Listed $279,000 OneKey® MLS as Distributed by MLS Grid
• 2024-02-27 Rental Removed $1,800 ONEKEY
• 2024-02-22 Listed for Rent $1,800 ONEKEY
• 2022-07-13 Sold (Public Records) $170,000 Public Records
• 2018-05-29 Sold (Public Records) $90,000 Public Records
• 2014-09-26 Sold (Public Records) $60,000 Public Records
• 2014-09-25 Price Changed $60,000 HGMLS
• 2014-09-25 Sold (MLS) $60,000 HGMLS
• 2014-09-25 Delisted — HGMLS
• 2014-09-25 Sold (MLS) $60,000 OneKey® MLS as Distributed by MLS Grid
• 2014-08-19 Contingent — HGMLS
• 2014-08-19 Price Changed $69,900 HGMLS
• 2014-08-11 Listed $69,900 HGMLS
• 2014-08-11 Listed $69,900 OneKey® MLS as Distributed by MLS Grid
• 1979-07-06 Sold (Public Records) $10,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $3,195 · -1.0% YoY. Source: county tax records.