233-235 Columbia St · Hudson, NY 12534

$619,900

24 bd · 16.0 ba · 3,193 sqft · MultiFamily · 221 Days on market

Built 1900 Fair condition 0.26 ac lot $194/sqft · 42% below area Est $1.077M · 42% under ↓ 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +5.1/10.0
• Rent growth +5.0/5.0
• 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

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $620k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $9k ($111k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $620k).
• Recommended offer: $546k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.1% vs local median 3.1% 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: 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.
• Zoned schools: Montgomery C Smith Elementary School (math 36% / reading 47%, grade F, #1,409 of 2,108 statewide, top 67%, 723 students, 65% FRL); Hudson Junior High School (math 20% / reading 36%, grade F, #573 of 729 statewide, top 79%, 384 students, 63% FRL); Hudson High School (math 82% / reading 84%, grade A, #435 of 1,100 statewide, top 40%, 454 students, 57% FRL).
• Market conditions: Rents rising fast (+10.9%/yr); 255 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• At $4,273/mo per unit this rent would consume 70% of the median local household income ($73k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $66k 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 $174k cash investment doubles in ~1 year — 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 221 days — a 12% lower offer ($546k) 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 $545,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 221 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: 2.76% ✓
• Cap rate: 24.14%
• Cash-on-cash: 63.73%
• DSCR: 3.84
• GRM: 3.0

CMA / ARV

• ARV (median comp): $1,076,514
• List price: $619,900
• Delta: -42.42%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 79.6%
• Equity multiple: 6.85×
• Total profit: $1,015,287
• Equity at exit: $558,455

10-year hold

• IRR: 75.6%
• Equity multiple: 16.86×
• Total profit: $2,752,439
• Equity at exit: $1,204,329

Cash invested: $173,572 (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: 255
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $17,091 medium
• Mortgage (P&I): −$3,251
• Tax est. 1.5%: −$775 /mo · $9,298/yr
• Insurance: −$258
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,589
• Net cashflow: $9,218

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$17,092
Total (4 units)			$17,091

Break-even live

Break-even rent $5,423

Max offer price $619,900

Occupancy floor 41%

Sensitivity live

Price	-10% $9,646	-5% $9,432	+0% $9,218	+5% $9,004	+10% $8,790
Rent	-10% $7,868	-5% $8,543	+0% $9,218	+5% $9,893	+10% $10,568
Rate	-1.0pp $9,530	-0.5pp $9,376	base $9,218	+0.5pp $9,057	+1.0pp $8,894

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: $154,975
• Closing costs: $18,597
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-09-24
   days on market $619,900 Active 221 DOM
2. 2026-09-23
   days on market $619,900 Active 220 DOM
3. 2026-09-21
   days on market $619,900 Active 218 DOM
4. 2026-09-20
   days on market $619,900 Active 217 DOM
5. 2026-09-18
   days on market $619,900 Active 215 DOM
6. 2026-09-17
   days on market $619,900 Active 214 DOM
7. 2026-09-16
   days on market $619,900 Active 213 DOM
8. 2026-09-15
   days on market $619,900 Active 212 DOM
9. 2026-09-14
   days on market $619,900 Active 211 DOM
10. 2026-09-13
    days on market $619,900 Active 210 DOM
11. 2026-09-12
    days on market $619,900 Active 209 DOM
12. 2026-09-11
    days on market $619,900 Active 208 DOM
13. 2026-09-05
    days on market $619,900 Active 202 DOM
14. 2026-09-04
    days on market $619,900 Active 201 DOM
15. 2026-09-03
    days on market $619,900 Active 200 DOM
16. 2026-09-02
    days on market $619,900 Active 199 DOM
17. 2026-08-30
    days on market $619,900 Active 196 DOM
18. 2026-08-29
    days on market $619,900 Active 195 DOM
19. 2026-08-28
    days on market $619,900 Active 194 DOM
20. 2026-08-27
    days on market $619,900 Active 193 DOM
21. 2026-08-26
    pricedays on market $619,900 Active 192 DOM
22. 2026-08-25
    days on market $625,000 Active 191 DOM
23. 2026-08-24
    days on market $625,000 Active 190 DOM
24. 2026-08-23
    days on market $625,000 Active 189 DOM
25. 2026-08-22
    days on market $625,000 Active 188 DOM
26. 2026-08-21
    days on market $625,000 Active 187 DOM
27. 2026-08-20
    days on market $625,000 Active 186 DOM
28. 2026-08-19
    days on market $625,000 Active 185 DOM
29. 2026-08-18
    days on market $625,000 Active 184 DOM
30. 2026-08-17
    statusdays on market $625,000 Active 183 DOM
31. 2026-08-16
    days on market $625,000 Active Under Contract 182 DOM
32. 2026-08-15
    days on market $625,000 Active Under Contract 181 DOM
33. 2026-08-14
    days on market $625,000 Active Under Contract 180 DOM
34. 2026-08-13
    days on market $625,000 Active Under Contract 179 DOM
35. 2026-08-12
    days on market $625,000 Active Under Contract 178 DOM
36. 2026-08-11
    days on market $625,000 Active Under Contract 177 DOM
37. 2026-08-10
    days on market $625,000 Active Under Contract 176 DOM
38. 2026-08-09
    days on market $625,000 Active Under Contract 175 DOM
39. 2026-08-08
    days on market $625,000 Active Under Contract 174 DOM
40. 2026-08-07
    days on market $625,000 Active Under Contract 173 DOM
41. 2026-08-06
    days on market $625,000 Active Under Contract 172 DOM
42. 2026-08-05
    days on market $625,000 Active Under Contract 171 DOM
43. 2026-08-04
    days on market $625,000 Active Under Contract 170 DOM
44. 2026-08-03
    days on market $625,000 Active Under Contract 169 DOM
45. 2026-07-31
    days on market $625,000 Active Under Contract 166 DOM
46. 2026-07-30
    days on market $625,000 Active Under Contract 165 DOM
47. 2026-07-29
    days on market $625,000 Active Under Contract 164 DOM
48. 2026-07-27
    days on market $625,000 Active Under Contract 162 DOM
49. 2026-07-25
    days on market $625,000 Active Under Contract 160 DOM
50. 2026-07-24
    days on market $625,000 Active Under Contract 159 DOM

ⓘ 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: $205,092
• − Mortgage interest: −$34,724
• − Property taxes: −$9,298
• − Insurance: −$3,100
• − Repairs & maintenance: −$16,407
• − Management: −$16,407
• − Depreciation: −$18,033
• Taxable income: $107,122
• Est. tax owed @ 24.0%: −$25,709
• After-tax cash flow: $84,906/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 Est. rehab $79,825–$143,685 screening

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. ↑

ⓘ 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.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Montgomery C Smith Elementary School F NY #1,409/2,108 Nat'l #18,859/41,679 Middle Hudson Junior High School F NY #573/729 Nat'l #9,545/14,009 High Hudson High School A NY #435/1,100 Nat'l #864/17,239

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

B Composite livability gradescore 70/100

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 · 58,662 people
• City population: 17,176
• Metro: Hudson, NY
• Population (ZIP): 17,176
• Household income: $72,741
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 8% of renters

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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%

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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%

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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

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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

-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