233-235 Columbia St · Hudson, NY 12534

$625,000

24 bd · 16.0 ba · 3,193 sqft · MultiFamily · 124 Days on market

Built 1900 Fair condition 0.26 ac lot $196/sqft · 54% below area ↓ 7% since listing

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Just moments from the energy and culture of Warren Street, this fully occupied four unit property offers both immediate income and long-term potential in the heart of Hudson. Each unit is currently month to month tenant occupied, creating a seamless turnkey opportunity for investors seeking stable cash flow in one of the Hudson Valley's most sought-after markets. Set within walking distance to Hudson's many restaurants, boutiques, galleries, and waterfront, the location alone makes this a rare find. Included in the sale is an adjacent building lot, opening the door to expansion, development, or future resale value. A wonderful opportunity whether you are looking to grow your portfolio or secure a foothold in Hudson's thriving real estate market, this offering combines income, location, and opportunity in one compelling package.

Key facts

• Long term potential
• Stable cash flow
• Immediate income

Tags

• IMMEDIATE INCOME
• LONG TERM POTENTIAL
• MONTH TO MONTH TENANT OCCUPIED
• TURNKEY OPPORTUNITY
• STABLE CASH FLOW
• ADJACENT BUILDING LOT

🏷️ Possibly a rental listed for sale. The $625,000 price doesn't fit this home's estimated sale value (~$1,372,039) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $625k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $5k ($65k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $625k).
• Recommended offer: $550k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 3.3% in Hudson — 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 70/100 on livability (#430 in NY) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+; Watch: schools C-, commute F, employment F.
• Hudson City School District (town): math 38% / reading 47% proficiency, ranked #494 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.9%/yr); 161 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• At $12,289/mo this rent would consume 203% of the median local household income ($73k/yr) (locally 1083% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $67k of equity ($4k loan paydown + $62k appreciation (10.0% local appreciation)).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $175k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$107k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($550k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $550,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.97% ✓
• Cap rate: 16.64%
• Cash-on-cash: 36.95%
• DSCR: 2.64
• GRM: 4.2

CMA / ARV

• ARV (median comp): $1,372,039
• List price: $625,000
• Delta: -54.45%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 56.1%
• Equity multiple: 5.28×
• Total profit: $748,755
• Equity at exit: $563,050

10-year hold

• IRR: 51.7%
• Equity multiple: 12.98×
• Total profit: $2,096,302
• Equity at exit: $1,214,238

Cash invested: $175,000 (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 12534

• Home prices YoY: 5.6%
• Rents YoY: 10.9%
• Active inventory: 161
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $12,289 medium
• Mortgage (P&I): −$3,278
• Tax est. 1.5%: −$781 /mo · $9,375/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,581
• Net cashflow: $5,389

Break-even live

Break-even rent $5,467

Max offer price $625,000

Occupancy floor 51%

Sensitivity live

Price	-10% $5,821	-5% $5,605	+0% $5,389	+5% $5,173	+10% $4,957
Rent	-10% $4,418	-5% $4,904	+0% $5,389	+5% $5,874	+10% $6,360
Rate	-1.0pp $5,704	-0.5pp $5,548	base $5,389	+0.5pp $5,227	+1.0pp $5,062

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$12,288
Total (4 units)			$12,289

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $625,000 Active 124 DOM
2. 2026-06-18
   days on market $625,000 Active 123 DOM
3. 2026-06-17
   days on market $625,000 Active 122 DOM
4. 2026-06-16
   days on market $625,000 Active 121 DOM
5. 2026-06-15
   days on market $625,000 Active 120 DOM
6. 2026-06-14
   days on market $625,000 Active 118 DOM
7. 2026-06-12
   days on market $625,000 Active 117 DOM
8. 2026-06-09
   days on market $625,000 Active 114 DOM
9. 2026-06-08
   days on market $625,000 Active 113 DOM
10. 2026-06-07
    days on market $625,000 Active 112 DOM
11. 2026-06-04
    days on market $625,000 Active 108 DOM
12. 2026-06-02
    days on market $625,000 Active 107 DOM
13. 2026-06-01
    days on market $625,000 Active 106 DOM
14. 2026-05-31
    days on market $625,000 Active 105 DOM
15. 2026-05-31
    days on market $625,000 Active 104 DOM
16. 2026-04-30
    price $625,000 839-char remark

    Show marketing remark (839 chars)

    Just moments from the energy and culture of Warren Street, this fully occupied four unit property offers both immediate income and long-term potential in the heart of Hudson. Each unit is currently month to month tenant occupied, creating a seamless turnkey opportunity for investors seeking stable cash flow in one of the Hudson Valley's most sought-after markets. Set within walking distance to Hudson's many restaurants, boutiques, galleries, and waterfront, the location alone makes this a rare find. Included in the sale is an adjacent building lot, opening the door to expansion, development, or future resale value. A wonderful opportunity whether you are looking to grow your portfolio or secure a foothold in Hudson's thriving real estate market, this offering combines income, location, and opportunity in one compelling package.

17. 2026-02-15
    listed $650,000 Active 839-char remark

    Show marketing remark (839 chars)

    Just moments from the energy and culture of Warren Street, this fully occupied four unit property offers both immediate income and long-term potential in the heart of Hudson. Each unit is currently month to month tenant occupied, creating a seamless turnkey opportunity for investors seeking stable cash flow in one of the Hudson Valley's most sought-after markets. Set within walking distance to Hudson's many restaurants, boutiques, galleries, and waterfront, the location alone makes this a rare find. Included in the sale is an adjacent building lot, opening the door to expansion, development, or future resale value. A wonderful opportunity whether you are looking to grow your portfolio or secure a foothold in Hudson's thriving real estate market, this offering combines income, location, and opportunity in one compelling package.

18. 2025-07-03
    price $715,000
19. 2025-04-24
    listed $749,000 Active
20. 2024-07-17
    listed $675,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $147,468
• − Mortgage interest: −$35,010
• − Property taxes: −$9,375
• − Insurance: −$3,125
• − Repairs & maintenance: −$11,797
• − Management: −$11,797
• − Depreciation: −$18,182
• Taxable income: $58,182
• Est. tax owed @ 24.0%: −$13,964
• After-tax cash flow: $50,705/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 · 6 photos

Fair 45/100 Moderate rehab

This four-unit multi-family property requires moderate rehabilitation, including painting the exterior siding and repairing the roof. Improvements will significantly enhance its curb appeal and rental value.

Repairs flagged

• Major exterior siding — The siding is visibly weathered and in need of repainting.
• Major roof — The roof has visible snow and potential ice dams, indicating potential water damage.

Value-add opportunities

• Both paint exterior siding — Painting the exterior siding will improve the home's curb appeal and increase its rental value.
• Both repair and maintain roof — Repairing and maintaining the roof will prevent water damage and ensure the home's structural integrity, increasing its resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The siding is visibly weathered and in need of repainting.	Major	$15,000–50,000
roof · The roof has visible snow and potential ice dams, indicating potential water damage.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior siding — Painting the exterior siding will improve the home's curb appeal and increase its rental value. ↑
• Both repair and maintain roof — Repairing and maintaining the roof will prevent water damage and ensure the home's structural integrity, increasing its resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hudson City School District
• NCES district ID: 3614940
• Math proficiency: 38% ▲ 4.00%
• Reading proficiency: 47% ▲ 7.00%
• Median HH income: $44,663
• Composite: 36.03/100
• National rank: #4779
• State rank: #494 of 590 in NY

Livability — Hudson

• Score: 70/100
• State rank: #430
• US rank: #7443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hudson, NY
• County: Columbia County · 17,176 people
• City population: 184
• Metro: Hudson, NY
• Population (ZIP): 17,176
• Household income: $72,741
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1083.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 58,662 people
• By 2030: 56,557 · -3.6%
• By 2040: 51,324 · -12.5%
• By 2050: 45,790 · -21.9%
• By 2075: 35,232 · -39.9%
• By 2100: 25,846 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 7% Black 7% Hispanic / Latino 7% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Iranian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Chinese 1%

Political lean MEDSL · Columbia

• 2024 margin: D (+14.7) · D 57.4% · R 42.6%
• 2008→2024 swing: +1.3pp toward D · 2008: 13.4pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+16.7 2016: D+1.4 2012: D+11.7 2008: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.98%
• Current HPI: 490.0412
• Rent YoY: ▲ 10.88%
• Metro: Hudson, 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

-7.4% since first listed

5 events — show timeline

• 2026-04-30 Price Changed $625,000 HVCRMLS
• 2026-02-15 Listed $650,000 HVCRMLS
• 2025-07-03 Price Changed $715,000 HVCRMLS
• 2025-04-24 Listed $749,000 HVCRMLS
• 2024-07-17 Listed $675,000 HVCRMLS