599 N Chodikee Lake Rd · Highland, NY 12528

$90,000

3 bd · 1.5 ba · 1,176 sqft · SingleFamily public records · 6 Days on market

Built 1963 0.57 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 4-bedroom, 1.5-bath property is in severe disrepair and is being sold strictly as-is. The home requires a full gut renovation. Known issues include a failing septic system, widespread mold, a non-functioning heating system, a roof in need of full replacement, and ruptured/frozen plumbing lines. The property has experienced freeze damage, and major mechanical, plumbing, and structural systems should be assumed non-operational. Utilities may not be functional. The property is located in or near wetlands, which may impose additional restrictions, permitting challenges, and added development costs. Buyer to perform all due diligence. Cash or hard money only. Short sale subject to lender ap

Key facts

• 0.57 acre lot
• 2 garage spots
• Built 1963

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 21.0% vs local median 2.6% in Highland — 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 75/100 on livability (#251 in NY, #3,941 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, commute F, cost of living D-.
• Highland Central School District (suburban): math 50% / reading 69% proficiency, ranked #227 of 590 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Highland Elementary School (math 46% / reading 67%, grade C+, #899 of 2,108 statewide, top 43%, 638 students, 38% FRL); Highland Middle School (math 27% / reading 57%, grade D-, #379 of 729 statewide, top 54%, 376 students, 42% FRL); Highland High School (math 87% / reading 92%, grade A+, #265 of 1,100 statewide, top 26%, 512 students, 41% FRL).
• Market conditions: 107 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.42% ✓
• Cap rate: 20.98%
• Cash-on-cash: 52.46%
• DSCR: 3.33
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $368,088
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 N Chodikee Lake Rd	0.03mi	2/1.5 (-1)	1,148 (-2%)	18mo	$359,000	$313	74

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.4%
• Equity multiple: 3.21×
• Total profit: $55,610
• Equity at exit: $13,419

10-year hold

• IRR: 55.9%
• Equity multiple: 6.51×
• Total profit: $138,901
• Equity at exit: $7,782

Cash invested: $25,200 (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 12528

• Home prices YoY: -20.5%
• Active inventory: 107
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,182 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $1,102

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 45%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-31
   status Pending
2. 2026-02-24
   listed $90,000 Active
3. 2025-11-20
   status Active
4. 2025-11-20
   price $150,000
5. 2025-07-01
   status Pending
6. 2025-05-27
   listed $120,000 Active
7. 2003-06-24
   soldstatus $188,680
8. 1979-02-02
   soldstatus $27,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°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: $26,181
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$2,094
• − Management: −$2,094
• − Depreciation: −$2,618
• Taxable income: $12,532
• Est. tax owed @ 24.0%: −$3,008
• After-tax cash flow: $10,211/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: Highland Central School District
• NCES district ID: 3614400
• Math proficiency: 50% ▼ -3.00%
• Reading proficiency: 69% ▲ 14.00%
• Median HH income: $63,600
• Composite: 51.89/100
• National rank: #1652
• State rank: #227 of 590 in NY

Livability — Highland

• Score: 75/100
• State rank: #251
• US rank: #3941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,818

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 10% Two or more races 9% Asian 7% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Cuban 1% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Slovak 2%
• Foreign-born: 11% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 9% Vietnamese 6% 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: ▼ -84.26%
• Current HPI: 327.3196
• 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

+233.3% since first listed

8 events — show timeline

• 2026-03-31 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-24 Listed $90,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-20 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-11-20 Price Changed $150,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-05-27 Listed $120,000 OneKey® MLS as Distributed by MLS Grid
• 2003-06-24 Sold (Public Records) $188,680 Public Records
• 1979-02-02 Sold (Public Records) $27,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $7,871 · +3.8% YoY. Source: county tax records.