177-181 Main St · Hudson Falls, NY 12839

$2,700,000

575 bd · 540.5 ba · 15,346 sqft · MultiFamily · 40 Days on market

Built 1798 Good condition 1.30 ac 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 +25.3/30.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Condition / age +4.0/5.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 23 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

Rare opportunity to own a 23-unit multifamily portfolio in Hudson Falls, NY, just minutes from Glens Falls. The property consists of three buildings with a mix of one- and two-bedroom units, along with off-street parking. The portfolio produces strong in-place income and offers additional upside through rent increases and expanding utility billbacks. A majority of units are currently below market, and several leases are month-to-month, allowing for flexibility for near-term lease adjustments. Hudson Falls continues to draw tenants looking for more affordable housing options while remaining close to Glens Falls and surrounding employment centers, supporting consistent demand. Well-suited for

Key facts

• 1.3 acre lot
• 14 parking spots
• Built 1798

Property features AI

Finance

• Financial info: Property configured as a multi-family building with 23 total units

Exterior

• Parking: Off-street parking with a total of 14 spaces
• Utilities: Public water; Public sewer
• Home design: Multi-family property; Below-grade finished living area (finished basement space present)
• Construction: Stone, block, vinyl siding, and wood siding construction
• Exterior features: Front porch; Porch; Deck; Road frontage; Cleared lot

Interior

• Kitchen: Kitchens included in individual units
• Bedrooms: Multiple 1-bedroom units (several units listed as 1 bedroom); At least one 2-bedroom unit
• Flooring: Vinyl flooring; Carpet; Hardwood
• Bathrooms: Multiple full bathrooms (building totals indicate many full baths)
• Heating & cooling: Baseboard heating; Electric heating; Hot water heating
• Interior features: Vinyl, carpet, and hardwood flooring; Basement apartment with walk-out access
• Laundry & utility: Laundry/utility facilities within units or building (typical for multi-family)

What this means for you Summary

Snapshot

• This is a 23 × 25-bed/23.5-bath units multifamily listed at $2.70M. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $6k ($74k/yr) — positive. Per door: $268/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($31k rent vs $2.70M).
• Recommended offer: $2.62M (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.9% in Hudson Falls — 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 (#481 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime D, employment D, amenities F.
• Hudson Falls Central School District (suburban): math 39% / reading 47% proficiency, ranked #486 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hudson Falls High School (math 87% / reading 77%, grade A, #452 of 1,100 statewide, top 44%, 694 students, 38% FRL) — zoned schools at 38% FRL track the district average.
• Zoned-school proficiency averages 82% at this address vs 43% district-wide (+39 pts) — the actual schools serving this property are materially stronger than the Hudson Falls Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 58 active listings in the ZIP; 106 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $289k of equity ($19k loan paydown + $270k appreciation (10.0% local appreciation)).
• Washington County population projected at -20% 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 $756k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$464k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($2.62M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1798 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,619,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1798 — 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 D 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: 1.16% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.79%
• DSCR: 1.44
• GRM: 7.2

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: 31.4%
• Equity multiple: 3.47×
• Total profit: $1,863,673
• Equity at exit: $2,432,374

10-year hold

• IRR: 27.2%
• Equity multiple: 7.85×
• Total profit: $5,180,330
• Equity at exit: $5,245,506

Cash invested: $756,000 (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 12839

• Home prices YoY: 8.5%
• Active inventory: 58
• Price-to-rent: 164.7×

Monthly cashflow live

• Estimated rent: $31,424 medium
• Mortgage (P&I): −$14,159
• Tax est. 1.5%: −$3,375 /mo · $40,500/yr
• Insurance: −$1,125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,599
• Net cashflow: $6,166

Break-even live

Break-even rent $23,619

Max offer price $2,700,000

Occupancy floor 75%

Sensitivity live

Price	-10% $8,032	-5% $7,099	+0% $6,166	+5% $5,233	+10% $4,300
Rent	-10% $3,683	-5% $4,925	+0% $6,166	+5% $7,407	+10% $8,648
Rate	-1.0pp $7,526	-0.5pp $6,853	base $6,166	+0.5pp $5,466	+1.0pp $4,754

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

Units	Beds	Baths	Est. rent
▸ 23× units	25	23.5	$31,418
Total (23 units)			$31,424

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: $675,000
• Closing costs: $81,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $2,700,000 Active 40 DOM
2. 2026-06-18
   days on market $2,700,000 Active 37 DOM
3. 2026-06-17
   days on market $2,700,000 Active 36 DOM
4. 2026-06-16
   days on market $2,700,000 Active 35 DOM
5. 2026-06-15
   days on market $2,700,000 Active 34 DOM
6. 2026-06-14
   days on market $2,700,000 Active 32 DOM
7. 2026-06-13
   days on market $2,700,000 Active 31 DOM
8. 2026-06-10
   days on market $2,700,000 Active 29 DOM
9. 2026-06-09
   days on market $2,700,000 Active 28 DOM
10. 2026-06-08
    days on market $2,700,000 Active 27 DOM
11. 2026-06-07
    days on market $2,700,000 Active 26 DOM
12. 2026-06-03
    days on market $2,700,000 Active 22 DOM
13. 2026-06-02
    days on market $2,700,000 Active 21 DOM
14. 2026-06-01
    days on market $2,700,000 Active 20 DOM
15. 2026-05-31
    days on market $2,700,000 Active 19 DOM
16. 2026-05-31
    days on market $2,700,000 Active 18 DOM
17. 2026-05-12
    listed $2,700,000 Active 795-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $377,088
• − Mortgage interest: −$151,242
• − Property taxes: −$40,500
• − Insurance: −$13,500
• − Repairs & maintenance: −$30,167
• − Management: −$30,167
• − Depreciation: −$78,545
• Taxable income: $32,966
• Est. tax owed @ 24.0%: −$7,912
• After-tax cash flow: $66,078/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 · 6 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with minimal repairs needed. It offers a good investment opportunity with strong in-place income and potential for rent increases.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value
• Both Landscaping improvements — Enhances curb appeal and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Landscaping improvements — Enhances curb appeal and property value ↑

ⓘ 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: Hudson Falls Central School District
• NCES district ID: 3614970
• Math proficiency: 39% ▼ -8.00%
• Reading proficiency: 47% ▲ 6.00%
• Median HH income: $46,019
• Composite: 36.57/100
• National rank: #4635
• State rank: #486 of 590 in NY

Livability — Hudson Falls

• Score: 69/100
• State rank: #481
• US rank: #8482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hudson Falls, NY
• Population (ZIP): 13,618

Population outlook (Washington County) Hauer SSP2

• Today (2025): 59,576 people
• By 2030: 57,618 · -3.3%
• By 2040: 52,751 · -11.5%
• By 2050: 47,514 · -20.2%
• By 2075: 35,690 · -40.1%
• By 2100: 24,807 · -58.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 8% Slovak 5% Estonian 3%
• Foreign-born: 5% · Canada, Guatemala
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 2% German/W. Germanic 2%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+21.2) · D 39.4% · R 60.6%
• 2008→2024 swing: -22.0pp toward R · 2008: 0.8pp · 2024: -21.2pp
• All cycles: 2024: R+21.2 2020: R+15.6 2016: R+20.2 2012: D+1.6 2008: D+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.92%
• Current HPI: 331.6315
• Rent YoY: —
• Metro: —
• 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

• 2026-05-12 Listed $2,700,000 Global MLS