65 W Bridge St · Catskill, NY 12414

$549,000

49 bd · 49.0 ba · 4,100 sqft · MultiFamily · 17 Days on market

Built 1895 Fair condition 3,484 sqft 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent investment opportunity in the Village of Catskill. This mixed-use property features seven units, including two commercial retail spaces and five residential units. Ideally located within walking distance to Main Street, shops, restaurants, and local amenities. Strong income potential in a highly visible and desirable location. This property is a fixer-upper although fully rented it requires facade rehab, interior cosmetics and some foundational remediation. Newer furnace. The property is being sold as-is, no inspection contingencies.

Key facts

• Residential units
• Mixed-use property
• 3,484 sq ft lot

Tags

• MIXED-USE PROPERTY
• COMMERCIAL RETAIL SPACES
• RESIDENTIAL UNITS
• STRONG INCOME POTENTIAL
• HIGHLY VISIBLE LOCATION

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; 200+ amp electric service with circuit breakers
• Home design: Mixed use property; Multi-family; City street frontage; Sloped to gently sloping lot; Has a view; Zoned CC
• Construction: Vinyl siding exterior; Brick/mortar foundation; Asphalt and rolled/hot mop roofing
• Exterior features: Other exterior features; Covered porch

Interior

• Kitchen: Range; Refrigerator
• Flooring: Linoleum; Vinyl; Other
• Heating & cooling: Hot water heating (natural gas); No central cooling
• Interior features: Other interior features
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 7 × 7-bed/7.0-bath units multifamily listed at $549k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $8k ($98k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($15k rent vs $549k).
• Recommended offer: $541k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.2% vs local median 2.9% in Catskill — 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 (#483 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime B+; Watch: schools C-, amenities F, commute F.
• Catskill Central School District (town): math 45% / reading 51% proficiency, ranked #429 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• At $15,172/mo this rent would consume 249% of the median local household income ($73k/yr) (locally 318% 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 $59k of equity ($4k loan paydown + $55k appreciation (10.0% local appreciation)).
• Greene 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 + 3.0% rent growth), your $154k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$94k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($541k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $540,765 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 24.20%
• Cash-on-cash: 63.95%
• DSCR: 3.85
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 75.7%
• Equity multiple: 6.34×
• Total profit: $820,973
• Equity at exit: $494,583

10-year hold

• IRR: 69.6%
• Equity multiple: 14.06×
• Total profit: $2,007,790
• Equity at exit: $1,066,586

Cash invested: $153,720 (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 12414

• Home prices YoY: 11.9%
• Active inventory: 104
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $15,172 medium
• Mortgage (P&I): −$2,879
• Tax est. 1.5%: −$686 /mo · $8,235/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,186
• Net cashflow: $8,192

Break-even live

Break-even rent $4,803

Max offer price $549,000

Occupancy floor 41%

Sensitivity live

Price	-10% $8,571	-5% $8,382	+0% $8,192	+5% $8,002	+10% $7,812
Rent	-10% $6,993	-5% $7,593	+0% $8,192	+5% $8,791	+10% $9,390
Rate	-1.0pp $8,468	-0.5pp $8,331	base $8,192	+0.5pp $8,050	+1.0pp $7,905

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

Units	Beds	Baths	Est. rent
▸ 7× units	7	7	$15,169
Total (7 units)			$15,172

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $549,000 Active 17 DOM
2. 2026-06-18
   days on market $549,000 Active 16 DOM
3. 2026-06-17
   days on market $549,000 Active 15 DOM
4. 2026-06-16
   days on market $549,000 Active 14 DOM
5. 2026-06-15
   days on market $549,000 Active 13 DOM
6. 2026-06-14
   days on market $549,000 Active 11 DOM
7. 2026-06-12
   days on market $549,000 Active 10 DOM
8. 2026-06-09
   days on market $549,000 Active 7 DOM
9. 2026-06-08
   days on market $549,000 Active 6 DOM
10. 2026-06-07
    days on market $549,000 Active 5 DOM
11. 2026-06-03
    remarks 549-char remark
12. 2026-06-03
    listed $549,000 Active 1 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: $182,064
• − Mortgage interest: −$30,753
• − Property taxes: −$8,235
• − Insurance: −$2,745
• − Repairs & maintenance: −$14,565
• − Management: −$14,565
• − Depreciation: −$15,971
• Taxable income: $95,230
• Est. tax owed @ 24.0%: −$22,855
• After-tax cash flow: $75,447/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 · 10 photos

Fair 45/100 Moderate rehab

This multi-family property requires extensive repairs and maintenance, including roof repair, exterior siding repair, landscaping, and fence repair. It is currently in fair condition and has strong income potential in a highly visible and desirable location.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding shows signs of wear and tear, with some areas appearing to be peeling or damaged.
• Major landscaping — The landscaping appears to be overgrown and in need of maintenance.
• Major fence — The fence appears to be in poor condition, with some areas appearing to be damaged or missing.

Value-add opportunities

• Both roof repair — Repairing the roof will improve the overall condition of the property and make it more attractive to potential buyers or renters.
• Both exterior siding repair — Repairing the exterior siding will improve the overall condition of the property and make it more attractive to potential buyers or renters.
• Both landscaping — Landscaping the property will improve the curb appeal and make it more attractive to potential buyers or renters.
• Both fence repair — Repairing the fence will improve the overall condition of the property and make it more attractive to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding shows signs of wear and tear, with some areas appearing to be peeling or damaged.	Major	$15,000–50,000
landscaping · The landscaping appears to be overgrown and in need of maintenance.	Major	$15,000–50,000
fence · The fence appears to be in poor condition, with some areas appearing to be damaged or missing.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both roof repair — Repairing the roof will improve the overall condition of the property and make it more attractive to potential buyers or renters. ↑
• Both exterior siding repair — Repairing the exterior siding will improve the overall condition of the property and make it more attractive to potential buyers or renters. ↑
• Both landscaping — Landscaping the property will improve the curb appeal and make it more attractive to potential buyers or renters. ↑
• Both fence repair — Repairing the fence will improve the overall condition of the property and make it more attractive to potential buyers or renters. ↑

ⓘ 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: Catskill Central School District
• NCES district ID: 3606720
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $44,960
• Composite: 40.63/100
• National rank: #3685
• State rank: #429 of 590 in NY

Livability — Catskill

• Score: 69/100
• State rank: #483
• US rank: #8498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Catskill, NY
• County: Greene County · 10,169 people
• City population: 10,169
• Metro: nan
• Population (ZIP): 10,169
• Household income: $73,036
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 318.0

Population outlook (Greene County) Hauer SSP2

• Today (2025): 44,963 people
• By 2030: 43,126 · -4.1%
• By 2040: 38,756 · -13.8%
• By 2050: 34,913 · -22.4%
• By 2075: 28,156 · -37.4%
• By 2100: 22,296 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Scotch-Irish 3% Iranian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, Mexico
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Greene

• 2024 margin: R (+17.0) · D 41.5% · R 58.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -9.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+15.6 2016: R+27.4 2012: R+11.1 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 52.47%
• Current HPI: 494.3394
• Rent YoY: —
• Metro: nan
• 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

1 event — show timeline

• 2026-06-02 Listed $549,000 HVCRMLS