356 Union St · Hudson, NY 12534

$1,550,000

6 bd · None ba · 10,692 sqft · MultiFamily public records · 2 Days on market

Built 1900 6,969 sqft lot $145/sqft · 56% below area Est $2612k · 41% 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).

• ARV discount +15.0/15.0
• Cash flow +10.8/30.0
• Appreciation +10.0/10.0
• Rent growth +5.0/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

A Second Empire Manse positioned one of Hudson's most desirable residential blocks of Union Street, this turn-key five-unit investment property is located across from the historic Courthouse Square, and sits just one block from the restaurants, galleries, and shops on Warren Street. Thoughtfully restored through a complete gut renovation in 2020, the property is offered in excellent condition and represents a rare turnkey investment opportunity in the heart of downtown Hudson. With five spacious apartments, including four one-bedroom apartments and a two-bedroom penthouse unit, each apartment features generous open-plan living spaces, one full and one half bathroom, in-unit laundry, and con

Key facts

• Stainless appliances
• In-unit laundry
• Hardwood floors

Tags

• TURN-KEY INVESTMENT PROPERTY
• FIVE SPACIOUS APARTMENTS
• IN-UNIT LAUNDRY
• HARDWOOD FLOORS
• NEW WINDOWS
• STAINLESS APPLIANCES

Property features AI

Finance

• Financial info: Annual property tax listed

Exterior

• Parking: Paved parking
• Utilities: Public water; Public sewer; 200+ amp electric service
• Home design: Residential income property (multi-family)
• Construction: Clapboard and frame construction; Other construction materials
• Exterior features: Paved parking; Other on-site structures; Zoned R-3

Interior

• Heating & cooling: Forced air heating
• Interior features: High-speed internet available; Finished full basement
• Laundry & utility: In-unit laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 6-bed/?-bath multifamily listed at $1.55M.

Deal economics

• At list price, monthly cash flow is $-721 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.42M (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.13M (27.4% below list).
• Recommended offer: $1.13M (27.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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 $11,258/mo this rent would consume 186% 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 $166k of equity ($11k loan paydown + $155k 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 ~$266k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y 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 $1.10M; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,125,800 (27.4% 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 1900 — 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. 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.
5. 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.
6. 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: 0.73% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.99%
• DSCR: 0.91
• GRM: 11.5

CMA / ARV

• ARV (median comp): $2,612,390
• List price: $1,550,000
• Delta: -38.75%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.3%
• Equity multiple: 2.98×
• Total profit: $857,265
• Equity at exit: $1,396,363

10-year hold

• IRR: 22.7%
• Equity multiple: 7.24×
• Total profit: $2,706,987
• Equity at exit: $3,011,309

Cash invested: $434,000 (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: 162
• Price-to-rent: 58.8×

Monthly cashflow live

• Estimated rent: $11,258 medium
• Mortgage (P&I): −$8,128
• Tax from tax record: −$840 /mo · $10,083/yr
• Insurance: −$646
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,364
• Net cashflow: $-721

Break-even live

Break-even rent $12,170

Max offer price $1,422,696

Occupancy floor —

Sensitivity live

Price	-10% $157	-5% $-282	+0% $-721	+5% $-1,159	+10% $-1,598
Rent	-10% $-1,610	-5% $-1,165	+0% $-721	+5% $-276	+10% $169
Rate	-1.0pp $60	-0.5pp $-326	base $-721	+0.5pp $-1,122	+1.0pp $-1,531

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$8,792
1× unit	2	1	$2,467
Total (5 units)			$11,258

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: $387,500
• Closing costs: $46,500
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   pricedays on marketlisting id $1,550,000 Active 2 DOM
2. 2026-06-19
   days on market $1,600,000 Active 406 DOM
3. 2026-06-18
   days on market $1,600,000 Active 405 DOM
4. 2026-06-17
   days on market $1,600,000 Active 404 DOM
5. 2026-06-16
   days on market $1,600,000 Active 403 DOM
6. 2026-06-15
   days on market $1,600,000 Active 402 DOM
7. 2026-06-14
   days on market $1,600,000 Active 400 DOM
8. 2026-06-12
   days on market $1,600,000 Active 399 DOM
9. 2026-06-09
   days on market $1,600,000 Active 396 DOM
10. 2026-06-08
    days on market $1,600,000 Active 395 DOM
11. 2026-06-07
    days on market $1,600,000 Active 394 DOM
12. 2026-06-04
    days on market $1,600,000 Active 390 DOM
13. 2026-06-02
    days on market $1,600,000 Active 389 DOM
14. 2026-06-01
    days on market $1,600,000 Active 388 DOM
15. 2026-05-31
    days on market $1,600,000 Active 387 DOM
16. 2026-05-31
    days on market $1,600,000 Active 386 DOM
17. 2025-10-12
    price $1,600,000 1363-char remark
18. 2025-05-13
    price $1,695,000 1363-char remark
19. 2025-05-08
    listed $1,595,000 Active 1363-char remark
20. 2021-03-24
    soldstatus $1,100,000
21. 2020-11-06
    listed $1,250,000
22. 2020-11-06
    listed $1,250,000
23. 2004-07-16
    soldstatus $300,000
24. 1999-10-22
    soldstatus $130,000

ⓘ 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: $10,083 · $840/mo
• Projected year-2 tax: $18,139 · $1,512/mo
• Expected delta: +$8,056/yr (+$671/mo · 79.9%)

ⓘ 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: $135,096
• − Mortgage interest: −$86,824
• − Property taxes: −$10,083
• − Insurance: −$7,750
• − Repairs & maintenance: −$10,808
• − Management: −$10,808
• − Depreciation: −$45,091
• Taxable loss: −$36,267
• Est. tax savings @ 24.0%: +$8,704
• After-tax cash flow: $57/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: 198
• 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

+1092.3% since first listed

9 events — show timeline

• 2026-06-19 Listed $1,550,000 HVCRMLS
• 2025-10-12 Price Changed $1,600,000 HVCRMLS
• 2025-05-13 Price Changed $1,695,000 HVCRMLS
• 2025-05-08 Listed $1,595,000 HVCRMLS
• 2021-03-24 Sold (Public Records) $1,100,000 Public Records
• 2020-11-06 Listed $1,250,000 HVCRMLS
• 2020-11-06 Listed $1,250,000 HVCRMLS
• 2004-07-16 Sold (Public Records) $300,000 Public Records
• 1999-10-22 Sold (Public Records) $130,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $10,083 · -5.6% YoY. Source: county tax records.