56 Warren St · Ellenville, NY 12428

$600,000

6 bd · 3.0 ba · 3,040 sqft · MultiFamily public records · 21 Days on market

Built 1900 6,534 sqft lot

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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 +14.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.0/10.0
• Schools +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks

Investors Alert. Beeautifully updated, fully occupied multi family in the town of Ellenville. 2 three bedroom and 2 two bedroom units generating a monthly income of over $7,000! This multi family will be a fantastic income producer in your portfolio. Schedule your showing today.

Key facts

• 6,534 sq ft lot
• Built 1900
• Listed 21 days

Property features AI

Exterior

• Parking: Driveway access; No carport
• Utilities: Public sewer; Electricity connected
• Home design: Quadruplex
• Construction: Frame construction
• Exterior features: Frame construction; Not on the waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: Two 3-bedroom units; Two 2-bedroom units
• Bathrooms: Four full bathrooms (total)
• Heating & cooling: Baseboard heating; Electric heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Partial basement
• Laundry & utility: Basement space suitable for utilities

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive. Per door: $32/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $538k (10.3% below list).
• Recommended offer: $538k (10.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#961 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A-; Watch: crime C-, amenities F, commute F.
• Ellenville Central School District (town): math 32% / reading 46% proficiency, ranked #534 of 590 in NY (top 90%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ellenville Elementary School (math 17% / reading 42%, grade F, #1,729 of 2,108 statewide, top 84%, 674 students, 61% FRL); Ellenville Junior/Senior High School (math 82% / reading 82%, grade A, #452 of 1,100 statewide, top 44%, 731 students, 64% FRL).
• Zoned-school proficiency averages 56% at this address vs 39% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Ellenville Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 72 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• In year one you build about $64k of equity ($4k loan paydown + $60k appreciation (10.0% local appreciation)).
• Ulster County population projected at -14% 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 $168k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$103k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($591k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $190k; list at $600k implies a 216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $538,200 (10.3% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.90% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.08%
• DSCR: 1.05
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $322,240
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
59 Warren St	0.03mi	6/3.0	3,076 (+1%)	5mo	$325,000	$106	92
4 Broadhead St	0.41mi	7/2.0 (+1)	3,090 (+2%)	22mo	$330,000	$107	51
6 Lincoln St	0.54mi	6/5.0	3,360 (+10%)	7mo	$300,000	$89	43

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

Projected returns pro-forma

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

5-year hold

• IRR: 24.8%
• Equity multiple: 2.98×
• Total profit: $332,967
• Equity at exit: $540,528

10-year hold

• IRR: 21.9%
• Equity multiple: 6.81×
• Total profit: $975,906
• Equity at exit: $1,165,668

Cash invested: $168,000 (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 12428

• Home prices YoY: 20.0%
• Active inventory: 72
• Price-to-rent: 27.9×

Monthly cashflow live

• Estimated rent: $5,382 medium
• Mortgage (P&I): −$3,146
• Tax from tax record: −$704 /mo · $8,447/yr
• Insurance: −$250
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,130
• Net cashflow: $96

Break-even live

Break-even rent $5,261

Max offer price $600,000

Occupancy floor 93%

Sensitivity live

Price	-10% $435	-5% $266	+0% $96	+5% $-74	+10% $-244
Rent	-10% $-329	-5% $-117	+0% $96	+5% $308	+10% $521
Rate	-1.0pp $398	-0.5pp $248	base $96	+0.5pp $-60	+1.0pp $-218

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$5,382
Total (3 units)			$5,382

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $600,000 Active 21 DOM
2. 2026-06-21
   days on market $600,000 Active 20 DOM
3. 2026-06-18
   days on market $600,000 Active 18 DOM
4. 2026-06-17
   days on market $600,000 Active 17 DOM
5. 2026-06-16
   days on market $600,000 Active 16 DOM
6. 2026-06-15
   days on market $600,000 Active 15 DOM
7. 2026-06-13
   days on market $600,000 Active 13 DOM
8. 2026-06-12
   pricedays on market $600,000 Active 12 DOM
9. 2026-06-09
   days on market $650,000 Active 9 DOM
10. 2026-06-08
    days on market $650,000 Active 8 DOM
11. 2026-06-07
    days on market $650,000 Active 7 DOM
12. 2026-06-07
    days on market $650,000 Active 6 DOM
13. 2026-06-04
    status $650,000 Active 3 DOM
14. 2026-05-01
    status Pending
15. 2026-04-28
    listed $650,000 Active
16. 2022-02-03
    soldstatus $190,000
17. 1997-01-21
    soldstatus $34,000

ⓘ 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: $8,447 · $704/mo
• Projected year-2 tax: $9,294 · $774/mo
• Expected delta: +$846/yr (+$71/mo · 10.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 9 d/yr ≥96°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,584
• − Mortgage interest: −$33,609
• − Property taxes: −$8,447
• − Insurance: −$3,666
• − Repairs & maintenance: −$5,167
• − Management: −$5,167
• − Depreciation: −$17,455
• Taxable loss: −$8,927
• Est. tax savings @ 24.0%: +$2,142
• After-tax cash flow: $3,293/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: Ellenville Central School District
• NCES district ID: 3610500
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 46% ▲ 10.00%
• Median HH income: $45,937
• Composite: 33.22/100
• National rank: #5525
• State rank: #534 of 590 in NY

Livability — Ellenville

• Score: 60/100
• State rank: #961
• US rank: #18871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ellenville, NY
• Population (ZIP): 6,972

Population outlook (Ulster County) Hauer SSP2

• Today (2025): 175,887 people
• By 2030: 171,876 · -2.3%
• By 2040: 161,771 · -8.0%
• By 2050: 151,470 · -13.9%
• By 2075: 133,023 · -24.4%
• By 2100: 113,504 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 28% Two or more races 9% Black 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 17% Dominican 4%
• Common ancestry: Romanian 5% Italian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, Jamaica, Dominican Republic
• Languages at home: 75% English-only · Spanish 20% Russian/Polish/Slavic 4% Other Indo-European 1%

Political lean MEDSL · Ulster

• 2024 margin: D (+18.7) · D 59.3% · R 40.7%
• 2008→2024 swing: -4.9pp toward R · 2008: 23.6pp · 2024: 18.7pp
• All cycles: 2024: D+18.7 2020: D+20.9 2016: D+9.1 2012: D+21.9 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 62.17%
• Current HPI: 372.5352
• 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

+1811.8% since first listed

4 events — show timeline

• 2026-05-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-28 Listed $650,000 OneKey® MLS as Distributed by MLS Grid
• 2022-02-03 Sold (Public Records) $190,000 Public Records
• 1997-01-21 Sold (Public Records) $34,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $8,447 · +51.9% YoY. Source: county tax records.