544 State St · Hudson, NY 12534

$485,000

5 bd · 2.0 ba · 2,156 sqft · MultiFamily public records · 21 Days on market

Built 1910 3,049 sqft lot Est $433k · 12% over

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• Cash flow +7.4/30.0
• Rent growth +5.0/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• DSCR +1.6/10.0
• 1% rule +1.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Prime Hudson location. Steps from Warren Street and close to riverfront parks, dining, art, and shopping. 544 State St offers a two family with one unit over another, built with early 1900s charm and solid scale. Classic gable lines brim the exterior, along with scalloped detail, and a welcoming front porch. Each unit holds tall ceilings, natural light, and a smart layout. Upstairs, a bright front room and period trim. Downstairs offers easy flow from living to kitchen. Both allow strong rental income or flexible use for an owner who wants extra space, or to convert to a single family residence. The property sits in a walkable part of Hudson with quick access to the Amtrak station. You reac

Key facts

• Smart layout
• Tall ceilings
• Natural light

Tags

• STEPS FROM WARREN STREET
• CLOSE TO RIVERFRONT PARKS
• TALL CEILINGS
• NATURAL LIGHT
• SMART LAYOUT
• BRIGHT FRONT ROOM

Property features AI

Exterior

• Parking: Has garage (1 car); Driveway; Paved parking; Garage faces rear
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential income property; Duplex
• Construction: Wood siding; Built with wood siding
• Exterior features: Level lot; Asphalt shingle roof; Garage(s) on property

Interior

• Kitchen: Range; Refrigerator
• Flooring: Hardwood; Tile
• Heating & cooling: Oil heating; No central cooling
• Interior features: Range; Refrigerator; Full basement; Carbon monoxide and smoke detectors
• Laundry & utility: Laundry in basement; Has heating (oil)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $485k.

Deal economics

• At list price, monthly cash flow is $-619 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $376k (22.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $307k (36.6% below list).
• Recommended offer: $307k (36.6% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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: 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); 162 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• At $3,074/mo this rent would consume 51% 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 $52k of equity ($3k loan paydown + $48k 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.
• By year 2, paydown + projected appreciation supports a ~$83k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($478k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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.
• Current owner paid $45k; list at $485k implies a 978% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $307,368 (36.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.63% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• GRM: 13.1

CMA / ARV

• ARV (on-the-fly): $433,356
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 State St	0.40mi	4/— (-1)	2,112 (-2%)	6mo	$425,000	$201	68
534 Washington St	0.12mi	4/2.0 (-1)	1,990 (-8%)	14mo	$469,000	$236	64
309 - 311 Union St	0.45mi	4/— (-1)	2,088 (-3%)	18mo	$380,000	$182	53
5 Worth Ave	0.37mi	4/— (-1)	1,888 (-12%)	15mo	$300,000	$159	45
12 Mckinstry Pl	0.37mi	6/— (+1)	2,454 (+14%)	12mo	$530,000	$216	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 21.7%
• Equity multiple: 2.77×
• Total profit: $240,843
• Equity at exit: $436,926

10-year hold

• IRR: 20.6%
• Equity multiple: 6.75×
• Total profit: $780,191
• Equity at exit: $942,248

Cash invested: $135,800 (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: 162
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $3,074 medium
• Mortgage (P&I): −$2,543
• Tax from tax record: −$301 /mo · $3,617/yr
• Insurance: −$202
• HOA: −$0
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $-619

Break-even live

Break-even rent $3,857

Max offer price $375,709

Occupancy floor —

Sensitivity live

Price	-10% $-344	-5% $-481	+0% $-619	+5% $-756	+10% $-893
Rent	-10% $-861	-5% $-740	+0% $-619	+5% $-497	+10% $-376
Rate	-1.0pp $-374	-0.5pp $-495	base $-619	+0.5pp $-744	+1.0pp $-872

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: $121,250
• Closing costs: $14,550
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $485,000 Active 21 DOM
2. 2026-06-19
   days on market $485,000 Active 19 DOM
3. 2026-06-18
   days on market $485,000 Active 18 DOM
4. 2026-06-17
   days on market $485,000 Active 17 DOM
5. 2026-06-16
   days on market $485,000 Active 16 DOM
6. 2026-06-15
   days on market $485,000 Active 15 DOM
7. 2026-06-14
   days on market $485,000 Active 13 DOM
8. 2026-06-12
   days on market $485,000 Active 12 DOM
9. 2026-06-09
   days on market $485,000 Active 9 DOM
10. 2026-06-08
    days on market $485,000 Active 8 DOM
11. 2026-06-07
    days on market $485,000 Active 7 DOM
12. 2026-06-04
    days on market $485,000 Active 3 DOM
13. 2026-06-02
    days on market $485,000 Active 2 DOM
14. 2026-05-31
    remarks 699-char remark
15. 2026-05-31
    listed $485,000 Active 1 DOM

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $3,617 · $301/mo
• Projected year-2 tax: $5,907 · $492/mo
• Expected delta: +$2,290/yr (+$191/mo · 63.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,884
• − Mortgage interest: −$27,168
• − Property taxes: −$3,617
• − Insurance: −$2,425
• − Repairs & maintenance: −$2,951
• − Management: −$2,951
• − Depreciation: −$14,109
• Taxable loss: −$16,336
• Est. tax savings @ 24.0%: +$3,921
• After-tax cash flow: $-3,503/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: 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
• 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

+977.8% since first listed

8 events — show timeline

• 2026-05-31 Listed $485,000 HVCRMLS
• 2026-04-28 Listing Removed — Global MLS
• 2026-01-14 Price Changed $574,900 HVCRMLS
• 2026-01-14 Price Changed $574,900 Global MLS
• 2025-11-13 Listed $599,000 HVCRMLS
• 2025-11-13 Listed $599,000 Global MLS
• 2018-10-04 Listed $339,000 HVCRMLS
• 2002-01-08 Sold (Public Records) $45,000 Public Records

Property tax history

+12.0%/yr

Latest (2025): $3,617 · +15.3% YoY. Source: county tax records.