24 Jewett Ave · Poughkeepsie, NY 12601

$499,000

6 bd · 3.0 ba · 2,556 sqft · MultiFamily public records · 94 Days on market

Built 1910 4,356 sqft lot Est $404k · 24% over

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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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Attention Investors: Live in one and rent the other two units. This 3 family home offers a great investment opportunity. Good sized 7-8 bedrooms units, 3 baths, (3 bedrooms and 1 bath in first floor; 2-3 bedrooms and 1 bath in second floor; another 2 bedrooms and 1 bath unit in the third floor and a walk out to a fire escape as well there's a walk-out basement which serves as a great storage place. Its located on a quiet, no outlet street; 6 yr old boiler and water heater. 4-5 large spaces for parking in the rear ; Full unfinished basement; and Fire escape at the back of the house. Hardwood flooring in the bedrooms. The easy conveniences to the near City markets, transportation, colleges,

Key facts

• Hardwood flooring
• Walk out basement
• 6 yr old boiler

Tags

• QUIET NO OUTLET STREET
• 6 YR OLD BOILER
• 6 YR OLD WATER HEATER
• WALK OUT BASEMENT
• FULL UNFINISHED BASEMENT
• HARDWOOD FLOORING

Property features AI

Exterior

• Parking: Driveway parking for up to 4 vehicles
• Utilities: Public sewer; Electricity available; Natural gas available; Water available; Sewer available
• Home design: Triplex
• Construction: Frame and vinyl siding exterior; Brick/mortar and stone foundation
• Exterior features: Frame construction with vinyl siding; Full unfinished basement with storage space; Not waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Two 2-bedroom units and one 3-bedroom unit
• Flooring: Ceramic tile; Hardwood; Laminate
• Bathrooms: Three full bathrooms
• Heating & cooling: Baseboard heating; Hot water heating; No central cooling
• Interior features: First-floor bedroom; First-floor full bathroom; Ceiling fans; Eat-in kitchen; Entrance foyer; Formal dining room; Storage space; Washer/dryer hookup
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $705/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $499k).
• Recommended offer: $454k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 3.4% in Poughkeepsie — 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 78/100 on livability (#165 in NY, #2,577 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: employment D+, crime F.
• Poughkeepsie City School District (suburban): math 29% / reading 42% proficiency, ranked #559 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Warring Magnet Academy of Science And Technology (math 5% / reading 24%, grade F, #2,024 of 2,108 statewide, top 97%, 312 students, 80% FRL); Poughkeepsie Middle School (math 8% / reading 37%, grade F, #650 of 729 statewide, top 90%, 877 students, 82% FRL); Poughkeepsie High School (math 59% / reading 67%, grade B-, #819 of 1,100 statewide, top 74%, 1,165 students, 74% FRL).
• Market conditions: Rents rising (+3.7%/yr); 195 active listings in the ZIP; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $140k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($454k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $154k; list at $499k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $454,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Crime grade is F 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?
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: 1.54% ✓
• Cap rate: 11.38%
• Cash-on-cash: 18.17%
• DSCR: 1.81
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $403,848
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Gray St	0.30mi	6/2.0	2,452 (-4%)	4mo	$349,000	$142	72
24 North White St	0.13mi	6/2.0	2,400 (-6%)	16mo	$215,000	$90	67
328 Church St	0.28mi	5/2.0 (-1)	2,473 (-3%)	8mo	$340,000	$137	65
69 Glenwood Ave	0.62mi	6/3.0	2,475 (-3%)	7mo	$425,000	$172	60
338/340 Church St	0.25mi	6/2.0	2,692 (+5%)	20mo	$395,000	$147	59
33 Manitou Ave	0.28mi	5/2.0 (-1)	2,450 (-4%)	21mo	$422,000	$172	53
470 Haight Ave	0.63mi	5/3.0 (-1)	2,586 (+1%)	23mo	$429,500	$166	44
65 S Clinton St	0.58mi	5/5.0 (-1)	2,678 (+5%)	14mo	$550,000	$205	40
50 Manitou Ave	0.35mi	5/2.0 (-1)	2,240 (-12%)	23mo	$353,000	$158	35
8 Hoffman Ave	0.36mi	5/2.0 (-1)	2,184 (-15%)	24mo	$135,000	$62	30

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

Projected returns pro-forma

-3.0% appreciation · 3.67% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.43×
• Total profit: $59,527
• Equity at exit: $74,403

10-year hold

• IRR: 20.4%
• Equity multiple: 2.78×
• Total profit: $248,773
• Equity at exit: $43,144

Cash invested: $139,720 (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 12601

• Rents YoY: 3.7%
• Active inventory: 195
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $7,686 medium
• Mortgage (P&I): −$2,617
• Tax from tax record: −$1,132 /mo · $13,580/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,614
• Net cashflow: $2,116

Break-even live

Break-even rent $5,008

Max offer price $499,000

Occupancy floor 67%

Sensitivity live

Price	-10% $2,398	-5% $2,257	+0% $2,116	+5% $1,974	+10% $1,833
Rent	-10% $1,508	-5% $1,812	+0% $2,116	+5% $2,419	+10% $2,723
Rate	-1.0pp $2,367	-0.5pp $2,242	base $2,116	+0.5pp $1,986	+1.0pp $1,855

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$7,686
Total (3 units)			$7,686

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-25
   status Pending
2. 2026-01-20
   listed $499,000 Active
3. 2026-01-14
   historical
4. 2025-08-28
   price $499,900
5. 2025-08-27
   price $515,990
6. 2025-08-27
   price $525,990
7. 2025-08-26
   listed $499,990 Active
8. 2002-07-23
   soldstatus $153,500
9. 1989-06-28
   soldstatus $135,333

ⓘ 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: $13,580 · $1,132/mo
• Projected year-2 tax: $13,580 · $1,132/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $92,232
• − Mortgage interest: −$27,952
• − Property taxes: −$13,580
• − Insurance: −$2,495
• − Repairs & maintenance: −$7,379
• − Management: −$7,379
• − Depreciation: −$14,516
• Taxable income: $18,932
• Est. tax owed @ 24.0%: −$4,544
• After-tax cash flow: $20,843/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: Poughkeepsie City School District
• NCES district ID: 3623760
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 42% ▲ 12.00%
• Median HH income: $39,159
• Composite: 29.68/100
• National rank: #6459
• State rank: #559 of 590 in NY

Livability — Poughkeepsie

• Score: 78/100
• State rank: #165
• US rank: #2577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poughkeepsie, NY
• County: Dutchess County · 188,048 people
• City population: 86,468
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 44,164
• Household income: $63,652
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 2891.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 17% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 79% English-only · Spanish 15% Other Indo-European 1% Chinese 1%

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: ▼ -210.62%
• Current HPI: 293.9789
• Rent YoY: ▲ 3.67%
• Metro: Poughkeepsie-Newburgh-Middletown, 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

+268.7% since first listed

9 events — show timeline

• 2026-04-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-20 Listed $499,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-08-28 Price Changed $499,900 OneKey® MLS as Distributed by MLS Grid
• 2025-08-27 Price Changed $515,990 OneKey® MLS as Distributed by MLS Grid
• 2025-08-27 Price Changed $525,990 OneKey® MLS as Distributed by MLS Grid
• 2025-08-26 Listed $499,990 OneKey® MLS as Distributed by MLS Grid
• 2002-07-23 Sold (Public Records) $153,500 Public Records
• 1989-06-28 Sold (Public Records) $135,333 Public Records

Property tax history

+13.9%/yr

Latest (2025): $13,580 · +54.4% YoY. Source: county tax records.