37 Glen Ave · Dover Plains, NY 12522

$399,900

3 bd · 1.5 ba · 1,736 sqft · Other public records · 49 Days on market

Built 1929 0.99 ac lot $230/sqft · 18% above area Est $646k · 38% under

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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 +25.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.7/10.0
• 1% rule +6.7/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2 homes for the price of 1. This is a multi-family property on multiple structures. Two separate electrical meters. 3318 total sq ft with a flowing stream in backyard. Main house consists of 3 bedrooms and 2 baths. Bungalow house has 2 bedrooms and 1 bath. 1 hr to NYC. INVESTORS AND CONTRACTORS SPECIAL. Needs Renovation.

Key facts

• 0.99 acre lot
• Built 1929
• Listed 48 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $400k.

Deal economics

• At list price, monthly cash flow is $924 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $388k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#818 in NY) — a middle-class / working-renter tenant base. Strengths: crime A, cost of living B; Watch: schools C-, commute C-, housing D+.
• Dover Union Free School District (rural): math 44% / reading 48% proficiency, ranked #433 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).

Forward outlook

• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Dutchess County population projected at -11% 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 $112k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask is 23% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $387,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.50%
• DSCR: 1.47
• GRM: 7.1

CMA / ARV

• ARV (median comp): $645,622
• List price: $399,900
• Delta: -38.06%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.5%
• Equity multiple: 3.47×
• Total profit: $276,736
• Equity at exit: $360,262

10-year hold

• IRR: 27.3%
• Equity multiple: 7.87×
• Total profit: $768,809
• Equity at exit: $776,918

Cash invested: $111,972 (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 12522

• Home prices YoY: 17.7%
• Active inventory: 36
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $4,683 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$456 /mo · $5,476/yr
• Insurance: −$167
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$983
• Net cashflow: $924

Break-even live

Break-even rent $3,513

Max offer price $399,900

Occupancy floor 75%

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $399,900 Active 49 DOM
2. 2026-06-17
   days on market $399,900 Active 48 DOM
3. 2026-06-16
   days on market $399,900 Active 47 DOM
4. 2026-06-15
   days on market $399,900 Active 46 DOM
5. 2026-06-13
   days on market $399,900 Active 44 DOM
6. 2026-06-12
   days on market $399,900 Active 43 DOM
7. 2026-06-09
   days on market $399,900 Active 40 DOM
8. 2026-06-08
   days on market $399,900 Active 39 DOM
9. 2026-06-07
   days on market $399,900 Active 38 DOM
10. 2026-06-07
    days on market $399,900 Active 37 DOM
11. 2026-06-04
    days on market $399,900 Active 34 DOM
12. 2026-06-02
    days on market $399,900 Active 33 DOM
13. 2026-06-01
    price $399,900 Active 32 DOM
14. 2026-06-01
    days on market $450,000 Active 32 DOM
15. 2026-05-31
    days on market $450,000 Active 31 DOM
16. 2026-04-30
    status Active 322-char remark

    Show marketing remark (322 chars)

    2 homes for the price of 1. This is a multi-family property on multiple structures. Two separate electrical meters. 3318 total sq ft with a flowing stream in backyard. Main house consists of 3 bedrooms and 2 baths. Bungalow house has 2 bedrooms and 1 bath. 1 hr to NYC. INVESTORS AND CONTRACTORS SPECIAL. Needs Renovation.

17. 2026-04-22
    historical $450,000 322-char remark

    Show marketing remark (322 chars)

    2 homes for the price of 1. This is a multi-family property on multiple structures. Two separate electrical meters. 3318 total sq ft with a flowing stream in backyard. Main house consists of 3 bedrooms and 2 baths. Bungalow house has 2 bedrooms and 1 bath. 1 hr to NYC. INVESTORS AND CONTRACTORS SPECIAL. Needs Renovation.

18. 2024-08-18
    status Pending
19. 2024-08-16
    historical
20. 2024-08-02
    listed $325,000 Active

ⓘ 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: $5,476 · $456/mo
• Projected year-2 tax: $6,117 · $510/mo
• Expected delta: +$641/yr (+$53/mo · 11.7%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,199
• − Mortgage interest: −$22,401
• − Property taxes: −$5,476
• − Insurance: −$2,666
• − Repairs & maintenance: −$4,496
• − Management: −$4,496
• − Depreciation: −$11,633
• Taxable income: $5,032
• Est. tax owed @ 24.0%: −$1,208
• After-tax cash flow: $9,883/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: Dover Union Free School District
• NCES district ID: 3609210
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 48% ▲ 3.00%
• Median HH income: $58,267
• Composite: 40.25/100
• National rank: #3768
• State rank: #433 of 590 in NY

Livability — Dover Plains

• Score: 63/100
• State rank: #818
• US rank: #15806

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,074

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: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 10% Asian 2% Black 1%
• Hispanic origin (detail): Puerto Rican 5% Cuban 2%
• Common ancestry: Lithuanian 3% Scandinavian 2% Slovak 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 85% English-only · Spanish 6% Other Indo-European 4% Chinese 2%

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: ▲ 39.50%
• Current HPI: 262.8121
• 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

+38.5% since first listed

5 events — show timeline

• 2026-04-30 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-22 Coming Soon $450,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-08-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-08-02 Listed $325,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2025): $5,476 · +2.7% YoY. Source: county tax records.