408 Carpenter Ave #24 · Newburgh, NY 12550

$104,900

1 bd · 1.0 ba · 736 sqft · Condo · 22 Days on market

Built 1973 Fair condition $143/sqft · 40% below area Est $176k · 40% under $294/mo HOA · 17% of rent ↓ 11% since listing

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Why this score? — see what drove the B+ 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 +28.6/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Please be advised the City has set a deadline for all "completed" offer packages to be submitted by Friday 4/3/2026 at 5pm. A completed offer package includes a completed PODA application.**One bedroom, one bathroom Condominium in Newburgh! Quiet community of Northwood Village. Ready to occupy and laundry in building. Sit on your own front porch and look over the courtyard. Great opportunity for first time buyers or downsizers. Close to shopping, schools and amenities. City of Newburgh owned property. Preference is given to owner-occupant purchasers in accordance with the City of Newburgh’s Surplus Real Property Disposition Policy (“Policy”). Agents should review the Policy by clicking link below in Member’s remarks. Potential purchasers shall present highest, best, and final offers only. Counteroffers should not be expected. All offers are subject to final approval by the Newburgh City Council. Offers that require financing must be accompanied by pre-qualification letter. Cash offers must be accompanied by proof of funds. All property is offered “as-is”. The City of Newburgh reserves the right to withdraw the property from the market or to amend any terms or conditions of these materials at any time. The City of Newburgh reserves the right to accept or reject any offers including full price offers and further reserves the right to remove the property from the market at any time. See member’s remarks for property access and offer presentation instructions. Sold as-is. Buyer to pay NYS and any local transfer taxes. Offers with financing must be accompanied by pre-qual letter; cash offers with proof of funds. **Please see agent remarks for access, showing instructions and offer presentation remarks.

Key facts

• Close to schools
• Front porch
• Laundry in building

Tags

• LAUNDRY IN BUILDING
• FRONT PORCH
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS
• CLOSE TO AMENITIES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $105k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 4.0% in Newburgh — 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 62/100 on livability (#878 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+, cost of living B; Watch: employment D+, crime F, amenities F.
• Newburgh City School District (suburban): math 33% / reading 48% proficiency, ranked #500 of 590 in NY (top 85%) — 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.
• Zoned schools: Newburgh Free Academy (math 76% / reading 85%, grade A, #506 of 1,100 statewide, top 46%, 3,433 students, 56% FRL).
• Zoned-school proficiency averages 80% at this address vs 40% district-wide (+40 pts) — the actual schools serving this property are materially stronger than the Newburgh City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 565 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 119d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $60k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $103,326 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.65% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.13%
• DSCR: 1.63
• GRM: 5.1

CMA / ARV

• ARV (median comp): $175,970
• List price: $104,900
• Delta: -40.39%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1003 Barclay Mnr Unit 10C	1.39mi	2/1.0 (+1)	727 (-1%)	0mo	$128,000	$176	58
20 Pierces Rd #61	0.74mi	1/1.0	759 (+3%)	13mo	$160,000	$211	50
702 Barclay Mnr Unit 7B	1.43mi	2/1.0 (+1)	727 (-1%)	11mo	$178,500	$246	49
10 Hampton Pl	0.29mi	2/1.0 (+1)	888 (+21%)	12mo	$315,000	$355	47
20 Pierces Rd #13	0.71mi	1/1.0	827 (+12%)	11mo	$160,000	$193	37
1403 Barclay Mnr Unit 14C	1.39mi	1/1.0	638 (-13%)	10mo	$110,000	$172	34
56 Shipp St	1.12mi	2/1.0 (+1)	864 (+17%)	2mo	$150,000	$174	34
94 Taft Ave	1.45mi	2/1.0 (+1)	819 (+11%)	11mo	$250,000	$305	32
1901 Barclay Mnr Unit 19A	1.40mi	1/1.0	565 (-23%)	9mo	$70,000	$124	32
16 Washington Pl	1.23mi	2/1.5 (+1)	912 (+24%)	2mo	$300,000	$329	31
105 White St	1.48mi	2/1.0 (+1)	858 (+17%)	11mo	$200,000	$233	26
70 Johnes St Unit 403E	1.41mi	2/2.0 (+1)	897 (+22%)	10mo	$220,000	$245	23

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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,214
• Equity at exit: $15,641

10-year hold

• IRR: 7.5%
• Equity multiple: 1.49×
• Total profit: $14,516
• Equity at exit: $9,070

Cash invested: $29,372 (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 12550

• Home prices YoY: -33.3%
• Rents YoY: 0.6%
• Active inventory: 565
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,728 high
• Mortgage (P&I): −$550
• Tax est. 1.5%: −$131 /mo · $1,574/yr
• Insurance: −$44
• HOA: −$294
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $346

Break-even live

Break-even rent $1,290

Max offer price $104,900

Occupancy floor 75%

Sensitivity live

Price	-10% $418	-5% $382	+0% $346	+5% $310	+10% $273
Rent	-10% $209	-5% $278	+0% $346	+5% $414	+10% $482
Rate	-1.0pp $399	-0.5pp $373	base $346	+0.5pp $319	+1.0pp $291

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: $26,225
• Closing costs: $3,147
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
74 North St Apt 3 Newburgh, NY	1.0	1.0	700	$1,945	$2.78	139d	1	0.14mi
275 Robinson Ave Unit B Newburgh, NY	1.0	1.0	600	$1,600	$2.67	5d	1	0.39mi
Powell Ave City of Newburgh, NY	—	1.0	571	$1,500	$2.63	5d	1	0.39mi
136 Johnston St Newburgh, NY	2.0	1.0	688	$1,900	$2.76	139d	1	0.75mi
217 3rd St Unit 3 Newburgh, NY	2.0	1.0	600	$1,600	$2.67	109d	1	0.81mi
33 Lutheran St Newburgh, NY	2.0	1.0	589	$1,600	$2.72	139d	1	0.98mi
90 Grand St Newburgh, NY	1.0	1.0	429	$1,344	$3.13	0d	2	1.03mi
185 Broadway Unit 102 Newburgh, NY	1.0	1.0	500	$1,550	$3.10	109d	1	1.10mi
96 Broadway Unit 2B Newburgh, NY	2.0	1.0	750	$1,750	$2.33	119d	1	1.13mi
222 Washington St Unit 1 Newburgh, NY	1.0	1.0	500	$975	$1.95	5d	1	1.18mi
5 Vineyard Ln Apt 104 Newburgh, NY	1.0	1.0	737	$2,250	$3.05	139d	1	1.19mi
5 Vineyard Ln Apt 113 Newburgh, NY	1.0	1.0	737	$2,250	$3.05	119d	1	1.19mi
18 West St Unit 2A Newburgh, NY	1.0	1.0	500	$1,525	$3.05	109d	1	1.19mi
101 Washington St Apt 1 Newburgh, NY	1.0	1.0	700	$1,685	$2.41	5d	1	1.24mi
42 Hasbrouck St Unit A Newburgh, NY	1.0	1.0	500	$1,500	$3.00	139d	1	1.27mi
28 Hasbrouck St Unit A Newburgh, NY	1.0	1.0	550	$1,500	$2.73	139d	1	1.27mi
2 Plainview Ln Gardnertown, NY	1.0	1.0	822	$2,125	$2.58	0d	7	1.30mi
1502 Barclay Mnr Unit 15B Newburgh, NY	1.0	1.0	638	$1,700	$2.66	5d	1	1.38mi
1901 Barclay Mnr Unit 19A Newburgh, NY	1.0	1.0	565	$1,700	$3.01	139d	1	1.38mi
43 Edward St Newburgh, NY	1.0	1.0	655	$2,100	$3.21	0d	1	1.40mi
52 Benkard Ave Newburgh, NY	2.0	1.0	625	$1,700	$2.72	139d	1	1.42mi
187 Renwick St Newburgh, NY	2.0	1.0	689	$1,400	$2.03	139d	1	1.47mi

HOA detail $294/mo · $3,528/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-23
   days on market $104,900 Active 22 DOM
2. 2026-09-22
   days on market $104,900 Active 21 DOM
3. 2026-09-21
   days on market $104,900 Active 20 DOM
4. 2026-09-20
   days on market $104,900 Active 19 DOM
5. 2026-09-19
   days on market $104,900 Active 18 DOM
6. 2026-09-18
   days on market $104,900 Active 17 DOM
7. 2026-09-17
   days on market $104,900 Active 16 DOM
8. 2026-09-16
   days on market $104,900 Active 15 DOM
9. 2026-09-15
   days on market $104,900 Active 14 DOM
10. 2026-09-14
    days on market $104,900 Active 13 DOM
11. 2026-09-13
    days on market $104,900 Active 12 DOM
12. 2026-09-12
    days on market $104,900 Active 11 DOM
13. 2026-09-11
    days on market $104,900 Active 10 DOM
14. 2026-09-05
    days on market $104,900 Active 4 DOM
15. 2026-09-04
    days on market $104,900 Active 3 DOM
16. 2026-09-03
    pricedays on marketlisting id $104,900 Active 2 DOM
17. 2026-08-26
    days on market $124,900 Active 265 DOM
18. 2026-08-25
    days on market $124,900 Active 264 DOM
19. 2026-08-24
    days on market $124,900 Active 263 DOM
20. 2026-08-23
    days on market $124,900 Active 262 DOM
21. 2026-08-22
    days on market $124,900 Active 261 DOM
22. 2026-08-21
    days on market $124,900 Active 260 DOM
23. 2026-08-20
    days on market $124,900 Active 259 DOM
24. 2026-08-19
    days on market $124,900 Active 258 DOM
25. 2026-08-18
    days on market $124,900 Active 257 DOM
26. 2026-08-17
    days on market $124,900 Active 256 DOM
27. 2026-08-16
    days on market $124,900 Active 255 DOM
28. 2026-08-15
    days on market $124,900 Active 254 DOM
29. 2026-08-15
    days on market $124,900 Active 253 DOM
30. 2026-08-13
    days on market $124,900 Active 252 DOM
31. 2026-08-12
    days on market $124,900 Active 251 DOM
32. 2026-08-11
    days on market $124,900 Active 250 DOM
33. 2026-08-10
    days on market $124,900 Active 249 DOM
34. 2026-08-09
    days on market $124,900 Active 248 DOM
35. 2026-08-08
    days on market $124,900 Active 247 DOM
36. 2026-08-07
    days on market $124,900 Active 246 DOM
37. 2026-08-06
    days on market $124,900 Active 245 DOM
38. 2026-08-05
    days on market $124,900 Active 244 DOM
39. 2026-08-04
    days on market $124,900 Active 243 DOM
40. 2026-08-03
    days on market $124,900 Active 242 DOM
41. 2026-07-31
    days on market $124,900 Active 239 DOM
42. 2026-07-30
    days on market $124,900 Active 238 DOM
43. 2026-07-29
    days on market $124,900 Active 237 DOM
44. 2026-07-27
    days on market $124,900 Active 235 DOM
45. 2026-07-25
    days on market $124,900 Active 233 DOM
46. 2026-07-23
    days on market $124,900 Active 231 DOM
47. 2026-07-22
    days on market $124,900 Active 230 DOM
48. 2026-07-21
    days on market $124,900 Active 229 DOM
49. 2026-07-18
    days on market $124,900 Active 226 DOM
50. 2026-07-16
    days on market $124,900 Active 224 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,732
• − Mortgage interest: −$5,876
• − Property taxes: −$1,574
• − Insurance: −$524
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − HOA: −$3,528
• − Depreciation: −$3,052
• Taxable income: $2,861
• Est. tax owed @ 24.0%: −$687
• After-tax cash flow: $3,464/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 · 11 photos

Fair 45/100 Moderate rehab Est. rehab $18,400–$33,120 screening

The property is in fair condition with moderate repairs needed in the kitchen and bathrooms. Upgrading these areas will significantly increase its resale and rental value.

Repairs flagged

• Major kitchen appliances — need to replace old and worn appliances
• Major bathroom fixtures — need to replace dated fixtures

Value-add opportunities

• Resale new kitchen appliances — modern appliances will attract more buyers ↑
• Resale new bathroom fixtures — updated fixtures will appeal to buyers ↑
• Resale new flooring — new flooring will improve the overall appearance ↑
• Both landscaping — improved landscaping will enhance curb appeal and attract more tenants ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Schools (NCES district)

• District: Newburgh City School District
• NCES district ID: 3620700
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 48% ▲ 10.00%
• Median HH income: $56,387
• Composite: 35.46/100
• National rank: #4927
• State rank: #500 of 590 in NY

C Composite livability gradescore 62/100

Livability — Newburgh

• Score: 62/100
• State rank: #878
• US rank: #17021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newburgh, NY
• County: Orange County · 379,830 people
• City population: 55,152
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 55,152
• Household income: $85,697
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 14% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 39% White 36% Black 20% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 18% · Canada, Dominican Republic
• Languages at home: 64% English-only · Spanish 30% French/Haitian/Cajun 1% Other Indo-European 1%

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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: ▼ -151.93%
• Current HPI: 304.1046
• Rent YoY: ▲ 0.63%
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

-11.3% since first listed

6 events — show timeline

• 2026-01-20 Price Changed $149,900 OneKey® MLS as Distributed by MLS Grid
• 2025-12-03 Listed $164,900 OneKey® MLS as Distributed by MLS Grid
• 2023-01-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2022-11-30 Price Changed $152,500 OneKey® MLS as Distributed by MLS Grid
• 2022-10-20 Price Changed $159,000 OneKey® MLS as Distributed by MLS Grid
• 2022-10-11 Listed $169,000 OneKey® MLS as Distributed by MLS Grid