208 Warren St · Hudson, NY 12534

$1,600,000

8 bd · 6.0 ba · 4,104 sqft · MultiFamily · 123 Days on market

Built 1969 3,049 sqft lot $390/sqft · 24% below area Est $2105k · 24% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Rent growth +5.0/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.6/30.0
• 1% rule +0.0/10.0
• DSCR +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

For investors seeking ease of ownership and reliable returns, 208 Warren Street offers a fully gut-renovated six-unit building in Hudson's walkable core. The property has been completely updated with all brand-new systems and clean, modern apartments featuring updated kitchens and baths, premium appliances, split-unit heat and A/C, and preserved architectural details where possible. A strong fit for 1031 exchange buyers or owner-operators, this is a straightforward asset that's easy to underwrite and simple enough to self-manage. A renovated entry with a chandelier leads to a restored original staircase serving two units per floor. The mix includes three one-bedroom and three two-bedroom apartments, with two of the larger units already leased. At the rear, a yard provides outdoor space for the ground-floor tenant along with two off-street parking spaces. Located just beyond the busiest stretch of Warren Street, the setting offers a quieter residential feel while remaining steps from shops, restaurants, and daily conveniences, with ample street parking nearby. Hudson draws strong rental demand thanks to its vibrant mix of independent shops, galleries, and restaurants along Warren Street, supported by a growing local economy and year-round tourism. The property also benefits from excellent regional access, with the Hudson Amtrak station providing direct service to New York City and Albany, and convenient connections to Route 9 and the Taconic State Parkway.

Key facts

• Updated baths
• Renovated entry
• Premium appliances

Tags

• FULLY GUT-RENOVATED
• UPDATED KITCHENS
• UPDATED BATHS
• PREMIUM APPLIANCES
• SPLIT-UNIT HEAT AND A/C
• RENOVATED ENTRY

🏷️ Possibly a rental listed for sale. The $1,600,000 price doesn't fit this home's estimated sale value (~$2,104,843) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $-6k ($-74k/yr) — negative. Per door: $-3k/mo.
• To cash-flow at today's rent, offer at most $710k (55.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $621k (61.2% below list).
• Recommended offer: $621k (61.2% below list) — sets the bar for 1% rule.
• Cap rate 1.7% vs local median 3.3% in Hudson — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 $6,208/mo this rent would consume 102% 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 $171k of equity ($11k loan paydown + $160k 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 ~$275k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($1.41M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $150k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $620,800 (61.2% 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. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 61% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1969 — 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. 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?
9. 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.
10. 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.
11. 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: 0.39% ✗
• Cap rate: 1.68%
• Cash-on-cash: -16.48%
• DSCR: 0.27
• GRM: 21.5

CMA / ARV

• ARV (median comp): $2,104,843
• List price: $1,600,000
• Delta: -23.98%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.7%
• Equity multiple: 2.14×
• Total profit: $512,421
• Equity at exit: $1,441,407

10-year hold

• IRR: 14.5%
• Equity multiple: 5.24×
• Total profit: $1,898,633
• Equity at exit: $3,108,448

Cash invested: $448,000 (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: 43.0×

Monthly cashflow live

• Estimated rent: $6,208 medium
• Mortgage (P&I): −$8,391
• Tax est. 1.5%: −$2,000 /mo · $24,000/yr
• Insurance: −$667
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,304
• Net cashflow: $-6,153

Break-even live

Break-even rent $13,997

Max offer price $709,663

Occupancy floor —

Sensitivity live

Price	-10% $-5,047	-5% $-5,600	+0% $-6,153	+5% $-6,706	+10% $-7,259
Rent	-10% $-6,643	-5% $-6,398	+0% $-6,153	+5% $-5,908	+10% $-5,662
Rate	-1.0pp $-5,347	-0.5pp $-5,746	base $-6,153	+0.5pp $-6,568	+1.0pp $-6,989

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$6,208
Total (2 units)			$6,208

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: $400,000
• Closing costs: $48,000
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $1,600,000 Active 123 DOM
2. 2026-06-18
   days on market $1,600,000 Active 122 DOM
3. 2026-06-17
   days on market $1,600,000 Active 121 DOM
4. 2026-06-16
   days on market $1,600,000 Active 120 DOM
5. 2026-06-15
   days on market $1,600,000 Active 119 DOM
6. 2026-06-14
   days on market $1,600,000 Active 117 DOM
7. 2026-06-12
   days on market $1,600,000 Active 116 DOM
8. 2026-06-09
   days on market $1,600,000 Active 113 DOM
9. 2026-06-08
   days on market $1,600,000 Active 112 DOM
10. 2026-06-07
    days on market $1,600,000 Active 111 DOM
11. 2026-06-04
    days on market $1,600,000 Active 107 DOM
12. 2026-06-02
    days on market $1,600,000 Active 106 DOM
13. 2026-06-01
    days on market $1,600,000 Active 105 DOM
14. 2026-05-31
    days on market $1,600,000 Active 104 DOM
15. 2026-05-31
    days on market $1,600,000 Active 103 DOM
16. 2026-04-22
    price $1,600,000 1479-char remark

    Show marketing remark (1479 chars)

    For investors seeking ease of ownership and reliable returns, 208 Warren Street offers a fully gut-renovated six-unit building in Hudson's walkable core. The property has been completely updated with all brand-new systems and clean, modern apartments featuring updated kitchens and baths, premium appliances, split-unit heat and A/C, and preserved architectural details where possible. A strong fit for 1031 exchange buyers or owner-operators, this is a straightforward asset that's easy to underwrite and simple enough to self-manage. A renovated entry with a chandelier leads to a restored original staircase serving two units per floor. The mix includes three one-bedroom and three two-bedroom apartments, with two of the larger units already leased. At the rear, a yard provides outdoor space for the ground-floor tenant along with two off-street parking spaces. Located just beyond the busiest stretch of Warren Street, the setting offers a quieter residential feel while remaining steps from shops, restaurants, and daily conveniences, with ample street parking nearby. Hudson draws strong rental demand thanks to its vibrant mix of independent shops, galleries, and restaurants along Warren Street, supported by a growing local economy and year-round tourism. The property also benefits from excellent regional access, with the Hudson Amtrak station providing direct service to New York City and Albany, and convenient connections to Route 9 and the Taconic State Parkway.

17. 2026-02-16
    listed $1,750,000 Active 1479-char remark

    Show marketing remark (1479 chars)

    For investors seeking ease of ownership and reliable returns, 208 Warren Street offers a fully gut-renovated six-unit building in Hudson's walkable core. The property has been completely updated with all brand-new systems and clean, modern apartments featuring updated kitchens and baths, premium appliances, split-unit heat and A/C, and preserved architectural details where possible. A strong fit for 1031 exchange buyers or owner-operators, this is a straightforward asset that's easy to underwrite and simple enough to self-manage. A renovated entry with a chandelier leads to a restored original staircase serving two units per floor. The mix includes three one-bedroom and three two-bedroom apartments, with two of the larger units already leased. At the rear, a yard provides outdoor space for the ground-floor tenant along with two off-street parking spaces. Located just beyond the busiest stretch of Warren Street, the setting offers a quieter residential feel while remaining steps from shops, restaurants, and daily conveniences, with ample street parking nearby. Hudson draws strong rental demand thanks to its vibrant mix of independent shops, galleries, and restaurants along Warren Street, supported by a growing local economy and year-round tourism. The property also benefits from excellent regional access, with the Hudson Amtrak station providing direct service to New York City and Albany, and convenient connections to Route 9 and the Taconic State Parkway.

18. 2010-11-29
    historical
19. 2009-05-29
    listed $435,000

ⓘ 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: $74,496
• − Mortgage interest: −$89,625
• − Property taxes: −$24,000
• − Insurance: −$8,000
• − Repairs & maintenance: −$5,960
• − Management: −$5,960
• − Depreciation: −$46,545
• Taxable loss: −$105,594
• Est. tax savings @ 24.0%: +$25,342
• After-tax cash flow: $-48,493/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
• 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: 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

+267.8% since first listed

4 events — show timeline

• 2026-04-22 Price Changed $1,600,000 HVCRMLS
• 2026-02-16 Listed $1,750,000 HVCRMLS
• 2010-11-29 Listing Removed — Global MLS
• 2009-05-29 Listed $435,000 Global MLS