359 Lake Shore Dr · Pine Bush, NY 12566

$199,000

2 bd · 1.0 ba · 504 sqft · SingleFamily public records · 176 Days on market

Built 1930 6,599 sqft lot $395/sqft · 14% below area Est $232k · 14% under

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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 +20.5/30.0
• ARV discount +13.8/15.0
• Appreciation +9.0/10.0
• DSCR +6.5/10.0
• 1% rule +5.1/10.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming Country Cottage in the Town of Pine Bush Welcome to your next chapter—whether you're just starting out or looking to simplify life, this cozy 2-bedroom, 1-bathroom country cottage is the perfect place to call home. Nestled in a peaceful setting in the Town of Pine Bush, this home offers comfort, convenience, and plenty of charm. Step inside to find an open-concept kitchen with abundant cabinetry, warm laminate hardwood floors throughout, and a combined dining and living area filled with natural light. Two comfortable bedrooms and a full bath make this an ideal space for everyday living, while the spacious backyard with a storage shed offers room to garden, entertain, or relax. Located just a short drive from shopping, dining, parks, and major roadways—plus only 15 minutes to NY-17 (I-86), making weekend getaways to Resorts World Catskills, Kartrite Waterpark, or LEGOLAND a breeze. Whether you're buying your first home or downsizing to something more manageable, this sweet cottage is competitively priced and ready to go—call today to schedule your showing!

Key facts

• Open-concept kitchen
• 15 minutes to ny-17
• 6,599 sq ft lot

Tags

• OPEN-CONCEPT KITCHEN
• LAMINATE HARDWOOD FLOORS
• BACKYARD WITH STORAGE SHED
• 15 MINUTES TO NY-17

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.0% in Pine Bush — 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 69/100 on livability (#480 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A; Watch: cost of living C-, amenities F, commute F.
• Pine Bush Central School District (rural): math 38% / reading 45% proficiency, ranked #468 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 83 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (8.0% 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 (8.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.01% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 8.3

CMA / ARV

• ARV (median comp): $231,505
• List price: $199,000
• Delta: -14.04%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
88 Sunset Trl	0.41mi	1/1.0 (-1)	520 (+3%)	24mo	$132,500	$255	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.78×
• Total profit: $99,180
• Equity at exit: $151,761

10-year hold

• IRR: 22.1%
• Equity multiple: 5.94×
• Total profit: $275,384
• Equity at exit: $301,794

Cash invested: $55,720 (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 12566

• Home prices YoY: 2.5%
• Active inventory: 83
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$192 /mo · $2,302/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $262

Break-even live

Break-even rent $1,669

Max offer price $199,000

Occupancy floor 82%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
171 Lake Shore Dr Pine Bush, NY	2.0	1.0	654	$2,000	$3.06	44d	1	0.40mi

Listing history 34 events

1. 2026-06-10
   days on market $199,000 Active 176 DOM
2. 2026-06-09
   days on market $199,000 Active 175 DOM
3. 2026-06-08
   days on market $199,000 Active 174 DOM
4. 2026-06-07
   days on market $199,000 Active 173 DOM
5. 2026-06-05
   days on market $199,000 Active 170 DOM
6. 2026-06-03
   days on market $199,000 Active 169 DOM
7. 2026-06-02
   days on market $199,000 Active 168 DOM
8. 2026-06-01
   days on market $199,000 Active 167 DOM
9. 2026-05-31
   days on market $199,000 Active 166 DOM
10. 2026-05-30
    days on market $199,000 Active 165 DOM
11. 2026-05-18
    status Active 1099-char remark

    Show marketing remark (1099 chars)

    Charming Country Cottage in the Town of Pine Bush Welcome to your next chapter—whether you're just starting out or looking to simplify life, this cozy 2-bedroom, 1-bathroom country cottage is the perfect place to call home. Nestled in a peaceful setting in the Town of Pine Bush, this home offers comfort, convenience, and plenty of charm. Step inside to find an open-concept kitchen with abundant cabinetry, warm laminate hardwood floors throughout, and a combined dining and living area filled with natural light. Two comfortable bedrooms and a full bath make this an ideal space for everyday living, while the spacious backyard with a storage shed offers room to garden, entertain, or relax. Located just a short drive from shopping, dining, parks, and major roadways—plus only 15 minutes to NY-17 (I-86), making weekend getaways to Resorts World Catskills, Kartrite Waterpark, or LEGOLAND a breeze. Whether you're buying your first home or downsizing to something more manageable, this sweet cottage is competitively priced and ready to go—call today to schedule your showing!

12. 2026-05-18
    historical 1099-char remark

    Show marketing remark (1099 chars)

    Charming Country Cottage in the Town of Pine Bush Welcome to your next chapter—whether you're just starting out or looking to simplify life, this cozy 2-bedroom, 1-bathroom country cottage is the perfect place to call home. Nestled in a peaceful setting in the Town of Pine Bush, this home offers comfort, convenience, and plenty of charm. Step inside to find an open-concept kitchen with abundant cabinetry, warm laminate hardwood floors throughout, and a combined dining and living area filled with natural light. Two comfortable bedrooms and a full bath make this an ideal space for everyday living, while the spacious backyard with a storage shed offers room to garden, entertain, or relax. Located just a short drive from shopping, dining, parks, and major roadways—plus only 15 minutes to NY-17 (I-86), making weekend getaways to Resorts World Catskills, Kartrite Waterpark, or LEGOLAND a breeze. Whether you're buying your first home or downsizing to something more manageable, this sweet cottage is competitively priced and ready to go—call today to schedule your showing!

13. 2026-05-08
    status Active 1099-char remark

    Show marketing remark (1099 chars)

    Charming Country Cottage in the Town of Pine Bush Welcome to your next chapter—whether you're just starting out or looking to simplify life, this cozy 2-bedroom, 1-bathroom country cottage is the perfect place to call home. Nestled in a peaceful setting in the Town of Pine Bush, this home offers comfort, convenience, and plenty of charm. Step inside to find an open-concept kitchen with abundant cabinetry, warm laminate hardwood floors throughout, and a combined dining and living area filled with natural light. Two comfortable bedrooms and a full bath make this an ideal space for everyday living, while the spacious backyard with a storage shed offers room to garden, entertain, or relax. Located just a short drive from shopping, dining, parks, and major roadways—plus only 15 minutes to NY-17 (I-86), making weekend getaways to Resorts World Catskills, Kartrite Waterpark, or LEGOLAND a breeze. Whether you're buying your first home or downsizing to something more manageable, this sweet cottage is competitively priced and ready to go—call today to schedule your showing!

14. 2026-05-07
    historical 1099-char remark

    Show marketing remark (1099 chars)

    Charming Country Cottage in the Town of Pine Bush Welcome to your next chapter—whether you're just starting out or looking to simplify life, this cozy 2-bedroom, 1-bathroom country cottage is the perfect place to call home. Nestled in a peaceful setting in the Town of Pine Bush, this home offers comfort, convenience, and plenty of charm. Step inside to find an open-concept kitchen with abundant cabinetry, warm laminate hardwood floors throughout, and a combined dining and living area filled with natural light. Two comfortable bedrooms and a full bath make this an ideal space for everyday living, while the spacious backyard with a storage shed offers room to garden, entertain, or relax. Located just a short drive from shopping, dining, parks, and major roadways—plus only 15 minutes to NY-17 (I-86), making weekend getaways to Resorts World Catskills, Kartrite Waterpark, or LEGOLAND a breeze. Whether you're buying your first home or downsizing to something more manageable, this sweet cottage is competitively priced and ready to go—call today to schedule your showing!

15. 2026-04-24
    status Active 1072-char remark

    Show marketing remark (1099 chars)

    Charming Country Cottage in the Town of Pine Bush Welcome to your next chapter—whether you're just starting out or looking to simplify life, this cozy 2-bedroom, 1-bathroom country cottage is the perfect place to call home. Nestled in a peaceful setting in the Town of Pine Bush, this home offers comfort, convenience, and plenty of charm. Step inside to find an open-concept kitchen with abundant cabinetry, warm laminate hardwood floors throughout, and a combined dining and living area filled with natural light. Two comfortable bedrooms and a full bath make this an ideal space for everyday living, while the spacious backyard with a storage shed offers room to garden, entertain, or relax. Located just a short drive from shopping, dining, parks, and major roadways—plus only 15 minutes to NY-17 (I-86), making weekend getaways to Resorts World Catskills, Kartrite Waterpark, or LEGOLAND a breeze. Whether you're buying your first home or downsizing to something more manageable, this sweet cottage is competitively priced and ready to go—call today to schedule your showing!

16. 2026-04-24
    status Active 1099-char remark

    Show marketing remark (1099 chars)

    Charming Country Cottage in the Town of Pine Bush Welcome to your next chapter—whether you're just starting out or looking to simplify life, this cozy 2-bedroom, 1-bathroom country cottage is the perfect place to call home. Nestled in a peaceful setting in the Town of Pine Bush, this home offers comfort, convenience, and plenty of charm. Step inside to find an open-concept kitchen with abundant cabinetry, warm laminate hardwood floors throughout, and a combined dining and living area filled with natural light. Two comfortable bedrooms and a full bath make this an ideal space for everyday living, while the spacious backyard with a storage shed offers room to garden, entertain, or relax. Located just a short drive from shopping, dining, parks, and major roadways—plus only 15 minutes to NY-17 (I-86), making weekend getaways to Resorts World Catskills, Kartrite Waterpark, or LEGOLAND a breeze. Whether you're buying your first home or downsizing to something more manageable, this sweet cottage is competitively priced and ready to go—call today to schedule your showing!

17. 2025-12-13
    listed $199,000 Active 1099-char remark

    Show marketing remark (1072 chars)

    Charming Country Cottage in the Town of Pine Bush Welcome to your next chapter—whether you're just starting out or looking to simplify life, this 2-bedroom, 1-bathroom cottage is the perfect place to call home. Nestled in a peaceful setting in the Town of Pine Bush, this home offers comfort, convenience, and plenty of charm. Step inside to find an open-concept kitchen with cabinetry, laminate hardwood floors throughout, and a combined dining and living area filled with natural light. Two bedrooms and a full bath make this an ideal space for everyday living, while the backyard with a storage shed offers room to garden, entertain, or relax. Located just a short drive from shopping, dining, parks, and major roadways—plus only 15 minutes to NY-17 (I-86), making weekend getaways to Resorts World Catskills, Kartrite Waterpark, or LEGOLAND a breeze. Whether you're buying your first home or downsizing to something more manageable, this sweet cottage is competitively priced and ready to go—call today to schedule your showing! Seller is motivated.

18. 2025-12-13
    listed $199,000 Active 1072-char remark

    Show marketing remark (1072 chars)

    Charming Country Cottage in the Town of Pine Bush Welcome to your next chapter—whether you're just starting out or looking to simplify life, this 2-bedroom, 1-bathroom cottage is the perfect place to call home. Nestled in a peaceful setting in the Town of Pine Bush, this home offers comfort, convenience, and plenty of charm. Step inside to find an open-concept kitchen with cabinetry, laminate hardwood floors throughout, and a combined dining and living area filled with natural light. Two bedrooms and a full bath make this an ideal space for everyday living, while the backyard with a storage shed offers room to garden, entertain, or relax. Located just a short drive from shopping, dining, parks, and major roadways—plus only 15 minutes to NY-17 (I-86), making weekend getaways to Resorts World Catskills, Kartrite Waterpark, or LEGOLAND a breeze. Whether you're buying your first home or downsizing to something more manageable, this sweet cottage is competitively priced and ready to go—call today to schedule your showing! Seller is motivated.

19. 2025-12-01
    historical
20. 2025-11-10
    price $199,900
21. 2025-09-23
    price $215,000
22. 2025-06-17
    price $215,000
23. 2025-06-01
    listed $225,000 Active
24. 2025-05-27
    listed $225,000 Active
25. 2023-08-02
    soldstatus $176,000
26. 2023-07-28
    soldstatus $176,000 Closed
27. 2023-05-16
    status Pending
28. 2023-04-21
    listed $169,999 Active
29. 2023-04-07
    historical $169,999
30. 2020-03-20
    historical
31. 2019-09-19
    listed $99,999
32. 2019-02-13
    historical
33. 2018-08-13
    listed $99,999
34. 2000-04-10
    soldstatus $68,500

ⓘ 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: $2,302 · $192/mo
• Projected year-2 tax: $2,832 · $236/mo
• Expected delta: +$531/yr (+$44/mo · 23.1%)

ⓘ 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 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$11,147
• − Property taxes: −$2,302
• − Insurance: −$995
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$5,789
• Taxable loss: −$73
• Est. tax savings @ 24.0%: +$18
• After-tax cash flow: $3,158/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: Pine Bush Central School District
• NCES district ID: 3623010
• Math proficiency: 38% ▼ -16.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $72,525
• Composite: 37.87/100
• National rank: #4324
• State rank: #468 of 590 in NY

Livability — Pine Bush

• Score: 69/100
• State rank: #480
• US rank: #8470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,718

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: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 12% Hispanic / Latino 10% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4%
• Common ancestry: Romanian 3% Serbian 2% Slovak 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 93% English-only · Spanish 4% Other Indo-European 1% Chinese 1%

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: ▲ 8.04%
• Current HPI: 329.8706
• 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

+190.5% since first listed

24 events — show timeline

• 2026-05-18 Relisted — HVCRMLS
• 2026-05-18 Delisted — HVCRMLS
• 2026-05-08 Relisted — HVCRMLS
• 2026-05-07 Delisted — HVCRMLS
• 2026-04-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-24 Relisted — HVCRMLS
• 2025-12-13 Listed $199,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-13 Listed $199,000 HVCRMLS
• 2025-12-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-11-10 Price Changed $199,900 OneKey® MLS as Distributed by MLS Grid
• 2025-09-23 Price Changed $215,000 HVCRMLS
• 2025-06-17 Price Changed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-01 Listed $225,000 HVCRMLS
• 2025-05-27 Listed $225,000 OneKey® MLS as Distributed by MLS Grid
• 2023-08-02 Sold (Public Records) $176,000 Public Records
• 2023-07-28 Sold (MLS) $176,000 OneKey® MLS as Distributed by MLS Grid
• 2023-05-16 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-04-21 Listed $169,999 OneKey® MLS as Distributed by MLS Grid
• 2023-04-07 Coming Soon $169,999 OneKey® MLS as Distributed by MLS Grid
• 2020-03-20 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-09-19 Listed $99,999 OneKey® MLS as Distributed by MLS Grid
• 2019-02-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2018-08-13 Listed $99,999 OneKey® MLS as Distributed by MLS Grid
• 2000-04-10 Sold (Public Records) $68,500 Public Records

Property tax history

+1.5%/yr

Latest (2025): $2,302 · +2.9% YoY. Source: county tax records.