34 Scarborough Ln Unit A · Myers Corner, NY 12590

$249,000

2 bd · 1.0 ba · 1,030 sqft · MultiFamily public records · 1 Days on market

Built 1973 6,098 sqft lot $441/mo HOA · 20% of rent

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

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 MLS

Welcome home to this beautifully maintained ground-level 2-bedroom condo, where comfort, convenience, and scenic surroundings come together perfectly. From the moment you step inside, you'll appreciate the fresh updates, including stylish new flooring and new stainless steel appliances, creating a move-in-ready space you'll be proud to call home. The bright and inviting floor plan offers comfortable living and entertaining areas, while large sliding glass doors fill the home with natural light and provide seamless access to your private outdoor patio. Enjoy your morning coffee or unwind after a long day while overlooking the tranquil pond, complete with picturesque water views and visits from ducks and local wildlife, creating a peaceful retreat right outside your door. This desirable community offers amenities designed to enhance your lifestyle, including a refreshing in-ground swimming pool, playground, tennis courts and beautifully maintained grounds. HOA services cover snow removal and trash collection, allowing you to spend less time worrying about maintenance and more time enjoying everything the community has to offer. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance lifestyle, this charming condo provides the perfect blend of comfort, convenience, and natural beauty. Ideally located near shopping, restaurants, parks, and major commuter routes, you'll enjoy easy access to everything you need while still coming home to a peaceful setting. Tenant is in the process of moving photos have been enhanced to remove some items for a better visual experience

Key facts

• Water views
• Ground-level condo
• Tranquil pond

Tags

• GROUND-LEVEL CONDO
• NEW STAINLESS STEEL APPLIANCES
• PRIVATE OUTDOOR PATIO
• TRANQUIL POND
• WATER VIEWS
• IN-GROUND SWIMMING POOL

Property features AI

Finance

• HOA & community: Has association (Scalzo); Monthly association fee of $441; Association fee covers common area maintenance, pool service, snow removal, and trash; Community amenities include clubhouse, playground, pool, sidewalks, and tennis courts

Exterior

• Parking: Assigned parking
• Utilities: Public sewer; Electric service by Central Hudson; Cable available; Electricity available
• Home design: Condominium; Entry level: 1
• Construction: Vinyl siding
• Exterior features: Community playground; Community tennis courts; Patio; Landscaped grounds; Near public transit; Near shops; Near schools; Community pool

Interior

• Kitchen: Eat-in kitchen; Refrigerator; Range; Dishwasher
• Bedrooms: Includes bedroom(s) on the first floor
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Open floorplan with open kitchen; Washer/dryer hookup; Patio; Pets allowed
• Laundry & utility: In-unit washer and dryer; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $6k ($77k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $249k).
• Cap rate 37.1% vs local median 2.9% in Myers Corner — 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 (#511 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A; Watch: amenities F, commute F, cost of living D-.
• Wappingers Central School District (suburban): math 53% / reading 65% proficiency, ranked #207 of 590 in NY (top 35%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: James S Evans Elementary School (math 42% / reading 57%, grade D, #1,085 of 2,108 statewide, top 56%, 317 students, 33% FRL); Wappingers Junior High School (math 30% / reading 54%, grade D-, #379 of 729 statewide, top 54%, 735 students, 36% FRL); Roy C Ketcham Senior High School (math 90% / reading 92%, grade A+, #203 of 1,100 statewide, top 20%, 1,612 students, 31% FRL) — zoned schools average 34% FRL vs 15% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.1%/yr); 205 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $10,787/mo this rent would consume 127% of the median local household income ($102k/yr) (locally 786% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 + 0.0% rent growth), your $70k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $71k; list at $249k implies a 251% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $249,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 4.33% ✓
• Cap rate: 37.06%
• Cash-on-cash: 109.89%
• DSCR: 5.89
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.81×
• Total profit: $335,079
• Equity at exit: $37,127

10-year hold

• IRR: —
• Equity multiple: 10.97×
• Total profit: $694,903
• Equity at exit: $21,529

Cash invested: $69,720 (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 12590

• Rents YoY: -1.1%
• Active inventory: 205
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $10,787 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$287 /mo · $3,442/yr
• Insurance: −$104
• HOA: −$441
• Vacancy / Maint / Mgmt: −$2,265
• Net cashflow: $6,384

Break-even live

Break-even rent $2,706

Max offer price $249,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$10,785
Total (5 units)			$10,787

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Scarborough Ln Unit A Wappingers Falls, NY	1.0	1.0	850	$1,950	$2.29	21d	1	0.07mi
94 Old Post Rd Unit 15B Wappingers Falls, NY	1.0	1.0	800	$1,700	$2.12	23d	1	0.66mi

HOA detail

• Monthly dues: $441 · $5,292/yr
• Likely covers: watertrashlandscapingsnow removalpool

Listing history 2 events

1. 2026-06-18
   remarks 687-char remark

   Show marketing remark (1622 chars)

   Welcome home to this beautifully maintained ground-level 2-bedroom condo, where comfort, convenience, and scenic surroundings come together perfectly. From the moment you step inside, you'll appreciate the fresh updates, including stylish new flooring and new stainless steel appliances, creating a move-in-ready space you'll be proud to call home. The bright and inviting floor plan offers comfortable living and entertaining areas, while large sliding glass doors fill the home with natural light and provide seamless access to your private outdoor patio. Enjoy your morning coffee or unwind after a long day while overlooking the tranquil pond, complete with picturesque water views and visits from ducks and local wildlife, creating a peaceful retreat right outside your door. This desirable community offers amenities designed to enhance your lifestyle, including a refreshing in-ground swimming pool, playground, tennis courts and beautifully maintained grounds. HOA services cover snow removal and trash collection, allowing you to spend less time worrying about maintenance and more time enjoying everything the community has to offer. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance lifestyle, this charming condo provides the perfect blend of comfort, convenience, and natural beauty. Ideally located near shopping, restaurants, parks, and major commuter routes, you'll enjoy easy access to everything you need while still coming home to a peaceful setting. Tenant is in the process of moving photos have been enhanced to remove some items for a better visual experience

2. 2026-06-18
   listed $249,000 Active 1 DOM

   Show marketing remark (1622 chars)

   Welcome home to this beautifully maintained ground-level 2-bedroom condo, where comfort, convenience, and scenic surroundings come together perfectly. From the moment you step inside, you'll appreciate the fresh updates, including stylish new flooring and new stainless steel appliances, creating a move-in-ready space you'll be proud to call home. The bright and inviting floor plan offers comfortable living and entertaining areas, while large sliding glass doors fill the home with natural light and provide seamless access to your private outdoor patio. Enjoy your morning coffee or unwind after a long day while overlooking the tranquil pond, complete with picturesque water views and visits from ducks and local wildlife, creating a peaceful retreat right outside your door. This desirable community offers amenities designed to enhance your lifestyle, including a refreshing in-ground swimming pool, playground, tennis courts and beautifully maintained grounds. HOA services cover snow removal and trash collection, allowing you to spend less time worrying about maintenance and more time enjoying everything the community has to offer. Whether you're a first-time homebuyer, looking to downsize, or seeking a low-maintenance lifestyle, this charming condo provides the perfect blend of comfort, convenience, and natural beauty. Ideally located near shopping, restaurants, parks, and major commuter routes, you'll enjoy easy access to everything you need while still coming home to a peaceful setting. Tenant is in the process of moving photos have been enhanced to remove some items for a better visual experience

ⓘ 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: $3,442 · $287/mo
• Projected year-2 tax: $3,825 · $319/mo
• Expected delta: +$383/yr (+$32/mo · 11.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $129,444
• − Mortgage interest: −$13,948
• − Property taxes: −$3,442
• − Insurance: −$1,245
• − Repairs & maintenance: −$10,356
• − Management: −$10,356
• − HOA: −$5,292
• − Depreciation: −$7,244
• Taxable income: $77,562
• Est. tax owed @ 24.0%: −$18,615
• After-tax cash flow: $57,997/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: Wappingers Central School District
• NCES district ID: 3629880
• Math proficiency: 53% ▼ -4.00%
• Reading proficiency: 65% ▲ 10.00%
• Median HH income: $83,184
• Composite: 53.38/100
• National rank: #1474
• State rank: #207 of 590 in NY

Livability — Myers Corner

• Score: 69/100
• State rank: #511
• US rank: #9062

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Myers Corner, NY
• County: Dutchess County · 188,048 people
• City population: 35,823
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 35,712
• Household income: $102,285
• Rent vs Own: 30.5% rent · 69.5% own
• Severe rent burden: 786.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 18% Two or more races 8% Black 8% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 3% Italian 1% Lithuanian 1%
• Foreign-born: 12% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 12% Other Indo-European 3% 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: ▼ -411.49%
• Current HPI: 255.2764
• Rent YoY: ▼ -1.08%
• 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

+221.3% since first listed

5 events — show timeline

• 2026-06-18 Listed $249,000 HVCRMLS
• 2026-06-18 Listed $249,000 OneKey® MLS as Distributed by MLS Grid
• 2001-09-04 Sold (Public Records) $71,000 Public Records
• 2001-09-04 Sold (Public Records) $71,000 Public Records
• 1991-06-03 Sold (Public Records) $77,500 Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,442 · +1.7% YoY. Source: county tax records.