215 N Hamilton St · Poughkeepsie, NY 12601

$389,000

4 bd · 2.0 ba · 2,590 sqft · MultiFamily public records · 58 Days on market

Built 1900 0.26 ac lot Est $686k · 43% under

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Why this score? — see what drove the C+ 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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +6.2/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Great opportunity to own a centrally located 2-family in the City of Poughkeepsie! Each unit offers 3 bedrooms and 1 full bath. Unit 1 is currently rented at $2,000/month. Unit 2 is vacant - Ideal for an owner-occupant looking to live in one unit while rental income helps offset your mortgage. Property features include separate electric meters, oil heat, and private driveway parking. A laundromat directly across the street offers added everyday convenience. Easy commuter location with nearby Route 9 shopping, restaurants, colleges, hospitals, the Culinary Institute of America, public transportation, and the train station. Solid investment potential with income opportunity in a commuter-friendly location - Call today!

Key facts

• Oil heat
• Nearby shopping
• Nearby restaurants

Tags

• SEPARATE ELECTRIC METERS
• OIL HEAT
• OFF-STREET DRIVEWAY PARKING
• EASY COMMUTER LOCATION
• NEARBY SHOPPING
• NEARBY RESTAURANTS

🏷️ Possibly a rental listed for sale. The $389,000 price doesn't fit this home's estimated sale value (~$686,284) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $389k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive. Per door: $230/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $389k).
• Recommended offer: $377k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.4% in Poughkeepsie — 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 78/100 on livability (#165 in NY, #2,577 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: employment D+, crime F.
• Poughkeepsie City School District (suburban): math 29% / reading 42% proficiency, ranked #559 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.7%/yr); 189 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $4,358/mo this rent would consume 82% of the median local household income ($64k/yr) (locally 2891% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($377k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $165k; list at $389k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $377,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1900 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.12% ✓
• Cap rate: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 7.4

CMA / ARV

• ARV (median comp): $686,284
• List price: $389,000
• Delta: -43.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 N Clinton St	0.06mi	5/2.0 (+1)	2,400 (-7%)	18mo	$375,000	$156	65
32 Balding Ave	0.47mi	4/2.0	2,452 (-5%)	5mo	$405,000	$165	65
70 N Hamilton St	0.47mi	4/2.0	2,570 (-1%)	23mo	$360,000	$140	57
93 Delafield St	0.72mi	4/2.0	2,750 (+6%)	1mo	$385,000	$140	55
2-4 Elm Pl	0.33mi	4/4.0	2,309 (-11%)	6mo	$357,000	$155	53
44 Conklin St	0.57mi	5/2.0 (+1)	2,760 (+7%)	12mo	$377,000	$137	48
91 Smith St	0.63mi	4/2.0	2,400 (-7%)	14mo	$285,000	$119	47
29 Cottage St	0.44mi	4/2.0	2,976 (+15%)	10mo	$270,000	$91	46
63 Lent St	0.72mi	4/2.0	2,344 (-10%)	15mo	$275,000	$117	38
66 Lent St	0.74mi	4/2.0	2,344 (-10%)	24mo	$430,000	$183	30

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-30,540
• Equity at exit: $58,001

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $24,427
• Equity at exit: $33,634

Cash invested: $108,920 (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 12601

• Rents YoY: 3.7%
• Active inventory: 189
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $4,358 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$781 /mo · $9,371/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$915
• Net cashflow: $460

Break-even live

Break-even rent $3,776

Max offer price $389,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,358
Total (2 units)			$4,358

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
236 Mansion St #2 Poughkeepsie, NY	3.0	1.0	2076	$2,600	$1.25	43d	1	0.59mi
32 Salt Point Tpke Poughkeepsie, NY	3.0	2.5	1761	$3,000	$1.70	21d	1	0.70mi
15 Forbus St Poughkeepsie, NY	3.0	1.0	2140	$2,500	$1.17	23d	1	1.26mi
212 S Cherry St Unit 2 Poughkeepsie, NY	4.0	1.5	3100	$2,950	$0.95	14d	1	1.46mi

Listing history 8 events

1. 2026-06-05
   statusdays on market $389,000 Pending 58 DOM
2. 2026-06-03
   days on market $389,000 Active 57 DOM
3. 2026-06-02
   days on market $389,000 Active 56 DOM
4. 2026-06-01
   days on market $389,000 Active 55 DOM
5. 2026-05-31
   days on market $389,000 Active 54 DOM
6. 2026-05-30
   days on market $389,000 Active 53 DOM
7. 2026-04-07
   listed $389,000 Active 729-char remark

   Show marketing remark (729 chars)

   Great opportunity to own a centrally located 2-family in the City of Poughkeepsie! Each unit offers 3 bedrooms and 1 full bath. Unit 1 is currently rented at $2,000/month. Unit 2 is vacant - Ideal for an owner-occupant looking to live in one unit while rental income helps offset your mortgage. Property features include separate electric meters, oil heat, and private driveway parking. A laundromat directly across the street offers added everyday convenience. Easy commuter location with nearby Route 9 shopping, restaurants, colleges, hospitals, the Culinary Institute of America, public transportation, and the train station. Solid investment potential with income opportunity in a commuter-friendly location - Call today!

8. 2023-08-10
   soldstatus $165,000

ⓘ 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: $9,371 · $781/mo
• Projected year-2 tax: $9,371 · $781/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,296
• − Mortgage interest: −$21,790
• − Property taxes: −$9,371
• − Insurance: −$1,945
• − Repairs & maintenance: −$4,184
• − Management: −$4,184
• − Depreciation: −$11,316
• Taxable loss: −$493
• Est. tax savings @ 24.0%: +$118
• After-tax cash flow: $5,637/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: Poughkeepsie City School District
• NCES district ID: 3623760
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 42% ▲ 12.00%
• Median HH income: $39,159
• Composite: 29.68/100
• National rank: #6459
• State rank: #559 of 590 in NY

Livability — Poughkeepsie

• Score: 78/100
• State rank: #165
• US rank: #2577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poughkeepsie, NY
• County: Dutchess County · 188,048 people
• City population: 86,468
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 44,164
• Household income: $63,652
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 2891.0

Population outlook (Dutchess County) Hauer SSP2

• Today (2025): 291,768 people
• By 2030: 287,131 · -1.6%
• By 2040: 274,881 · -5.8%
• By 2050: 259,971 · -10.9%
• By 2075: 235,366 · -19.3%
• By 2100: 208,786 · -28.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 17% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 79% English-only · Spanish 15% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Dutchess

• 2024 margin: Lean D (+5.4) · D 52.7% · R 47.3%
• 2008→2024 swing: -3.2pp toward R · 2008: 8.6pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+9.6 2016: R+1.1 2012: D+6.6 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.62%
• Current HPI: 293.9789
• Rent YoY: ▲ 3.67%
• Metro: Poughkeepsie-Newburgh-Middletown, 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

+135.8% since first listed

2 events — show timeline

• 2026-04-07 Listed $389,000 OneKey® MLS as Distributed by MLS Grid
• 2023-08-10 Sold (Public Records) $165,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $9,371 · +29.8% YoY. Source: county tax records.