187 Watkins Ave · Washington Heights, NY 10940

$283,000

3 bd · 2.0 ba · 1,545 sqft · SingleFamily public records · 167 Days on market

Built 1925 7,840 sqft lot $183/sqft · 21% below area Est $359k · 21% under

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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 +15.1/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Rent growth +4.6/5.0
• 1% rule +4.4/10.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity knocks in New York. Located near Sprucegate Farm, Swim King, and Magnanini Winery. This home has approx. 1,545 sq. ft. and a lot of approx. 7,750 sq. ft. A great investment opportunity. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

Key facts

• 7,840 sq ft lot
• Garage
• Built 1925

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $283k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (6.3% below list).
• Recommended offer: $249k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#230 in NY, #3,610 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D-, amenities F, commute F.
• Middletown City School District (suburban): math 41% / reading 55% proficiency, ranked #411 of 590 in NY (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.2%/yr); 273 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• This rent runs 37% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $70k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $283k implies a 213% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.94% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.37%
• DSCR: 1.06
• GRM: 8.9

CMA / ARV

• ARV (median comp): $358,943
• List price: $283,000
• Delta: -21.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 Commonwealth Ave	0.15mi	3/1.0	1,526 (-1%)	17mo	$255,000	$167	73
10 Royce Ave	0.47mi	3/1.5	1,470 (-5%)	3mo	$345,000	$235	66
42 Wisner Ave	0.45mi	3/2.0	1,631 (+6%)	11mo	$315,000	$193	61
1 Polly Kay Dr	0.51mi	3/1.0	1,482 (-4%)	7mo	$419,000	$283	60
212 Cottage St	0.60mi	3/1.0	1,464 (-5%)	1mo	$275,000	$188	58
2 Thomas Jefferson Pl	0.41mi	3/2.5	1,724 (+12%)	1mo	$430,000	$249	58
184 Highland Ave	0.54mi	4/2.0 (+1)	1,486 (-4%)	9mo	$347,500	$234	56
22 1/2 Royce Ave	0.55mi	3/2.0	1,648 (+7%)	11mo	$425,000	$258	54
71 Commonwealth Ave	0.57mi	3/1.0	1,344 (-13%)	2mo	$320,000	$238	46
125 Overhill Rd	0.72mi	3/1.0	1,408 (-9%)	15mo	$315,000	$224	36
16 Robertson Dr	0.73mi	2/1.5 (-1)	1,404 (-9%)	10mo	$371,000	$264	35
51 Watkins Ave	0.67mi	3/1.0	1,360 (-12%)	14mo	$269,000	$198	33

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.67×
• Total profit: $-25,990
• Equity at exit: $42,196

10-year hold

• IRR: 6.7%
• Equity multiple: 1.62×
• Total profit: $48,904
• Equity at exit: $24,469

Cash invested: $79,240 (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 10940

• Home prices YoY: -18.7%
• Rents YoY: 8.2%
• Active inventory: 273
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,653 high
• Mortgage (P&I): −$1,484
• Tax from tax record: −$403 /mo · $4,836/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $91

Break-even live

Break-even rent $2,538

Max offer price $283,000

Occupancy floor 92%

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: $70,750
• Closing costs: $8,490
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
56 Wisner Ave Middletown, NY	3.0	1.0	1144	$2,500	$2.19	23d	1	0.50mi
186 Highland Ave Unit 1 Middletown, NY	3.0	2.0	2160	$2,800	$1.30	43d	1	0.56mi
184 Highland Ave Middletown, NY	4.0	2.0	1486	$3,500	$2.36	23d	1	0.57mi
14 Smith St Middletown, NY	3.0	2.0	1852	$3,600	$1.94	13d	1	0.96mi
1 Dewitt St Middletown, NY	3.0	1.0	1127	$2,100	$1.86	43d	1	1.05mi
63 Broad St Middletown, NY	3.0	1.0	1088	$2,700	$2.48	23d	1	1.07mi
31 Liberty St Middletown, NY	2.0	1.0	1090	$2,000	$1.83	13d	1	1.23mi
132 Prospect Ave Middletown, NY	3.0	1.0	1240	$2,300	$1.85	43d	1	1.25mi
39 Crescent Pl Middletown, NY	3.0	1.0	1278	$2,500	$1.96	23d	1	1.29mi
30 Knapp Ave Middletown, NY	2.0	1.0	1532	$1,800	$1.17	43d	1	1.30mi
8 Roberts St Unit 2-A Middletown, NY	2.0	1.0	2132	$2,000	$0.94	23d	1	1.34mi
118 W Main St Unit 1 Middletown, NY	3.0	1.0	1158	$2,350	$2.03	21d	1	1.38mi
28 North St #1 Middletown, NY	2.0	2.0	1200	$2,000	$1.67	43d	1	1.40mi
2 E Main St #5 Middletown, NY	3.0	1.0	1200	$1,850	$1.54	13d	1	1.46mi

Listing history 32 events

1. 2026-06-18
   days on market $283,000 Active 167 DOM
2. 2026-06-17
   days on market $283,000 Active 166 DOM
3. 2026-06-16
   days on market $283,000 Active 165 DOM
4. 2026-06-15
   days on market $283,000 Active 164 DOM
5. 2026-06-14
   days on market $283,000 Active 162 DOM
6. 2026-06-13
   days on market $283,000 Active 161 DOM
7. 2026-06-10
   days on market $283,000 Active 159 DOM
8. 2026-06-09
   days on market $283,000 Active 158 DOM
9. 2026-06-08
   days on market $283,000 Active 157 DOM
10. 2026-06-07
    days on market $283,000 Active 156 DOM
11. 2026-06-05
    days on market $283,000 Active 153 DOM
12. 2026-06-03
    days on market $283,000 Active 152 DOM
13. 2026-06-02
    days on market $283,000 Active 151 DOM
14. 2026-06-01
    days on market $283,000 Active 150 DOM
15. 2026-05-31
    days on market $283,000 Active 149 DOM
16. 2026-05-30
    days on market $283,000 Active 148 DOM
17. 2026-04-15
    price $283,000 304-char remark

    Show marketing remark (304 chars)

    Opportunity knocks in New York. Located near Sprucegate Farm, Swim King, and Magnanini Winery. This home has approx. 1,545 sq. ft. and a lot of approx. 7,750 sq. ft. A great investment opportunity. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

18. 2026-03-31
    price $288,000 304-char remark

    Show marketing remark (304 chars)

    Opportunity knocks in New York. Located near Sprucegate Farm, Swim King, and Magnanini Winery. This home has approx. 1,545 sq. ft. and a lot of approx. 7,750 sq. ft. A great investment opportunity. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

19. 2026-03-13
    price $293,000 304-char remark

    Show marketing remark (304 chars)

    Opportunity knocks in New York. Located near Sprucegate Farm, Swim King, and Magnanini Winery. This home has approx. 1,545 sq. ft. and a lot of approx. 7,750 sq. ft. A great investment opportunity. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

20. 2026-02-24
    price $303,000 304-char remark

    Show marketing remark (304 chars)

    Opportunity knocks in New York. Located near Sprucegate Farm, Swim King, and Magnanini Winery. This home has approx. 1,545 sq. ft. and a lot of approx. 7,750 sq. ft. A great investment opportunity. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

21. 2026-02-09
    price $316,300 304-char remark

    Show marketing remark (304 chars)

    Opportunity knocks in New York. Located near Sprucegate Farm, Swim King, and Magnanini Winery. This home has approx. 1,545 sq. ft. and a lot of approx. 7,750 sq. ft. A great investment opportunity. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

22. 2026-01-21
    price $332,900 304-char remark

    Show marketing remark (304 chars)

    Opportunity knocks in New York. Located near Sprucegate Farm, Swim King, and Magnanini Winery. This home has approx. 1,545 sq. ft. and a lot of approx. 7,750 sq. ft. A great investment opportunity. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

23. 2026-01-02
    listed $353,000 Active 304-char remark

    Show marketing remark (304 chars)

    Opportunity knocks in New York. Located near Sprucegate Farm, Swim King, and Magnanini Winery. This home has approx. 1,545 sq. ft. and a lot of approx. 7,750 sq. ft. A great investment opportunity. Buyers check with City, County, Zoning, Tax, and other records to their satisfaction. AS-IS SALE property.

24. 2013-02-15
    historical
25. 2013-02-15
    historical
26. 2012-02-16
    listed $99,000
27. 2012-02-16
    listed
28. 2001-01-05
    soldstatus $90,500
29. 2000-12-29
    soldstatus $85,000
30. 2000-12-18
    historical
31. 2000-12-18
    price $89,900
32. 2000-09-12
    listed $85,000

ⓘ 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: $4,836 · $403/mo
• Projected year-2 tax: $4,836 · $403/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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,834
• − Mortgage interest: −$15,852
• − Property taxes: −$4,836
• − Insurance: −$1,415
• − Repairs & maintenance: −$2,547
• − Management: −$2,547
• − Depreciation: −$8,233
• Taxable loss: −$3,596
• Est. tax savings @ 24.0%: +$863
• After-tax cash flow: $1,952/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: Middletown City School District
• NCES district ID: 3619320
• Math proficiency: 41% ▼ -2.00%
• Reading proficiency: 55% ▲ 19.00%
• Median HH income: $54,612
• Composite: 41.52/100
• National rank: #3453
• State rank: #411 of 590 in NY

Livability — Washington Heights

• Score: 76/100
• State rank: #230
• US rank: #3610

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington Heights, NY
• County: Orange County · 267,004 people
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 53,611
• Household income: $87,080
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1846.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 39% Hispanic / Latino 32% Black 20% Two or more races 13% Asian 4% Native American 3%
• Hispanic origin (detail): Mexican 9% Puerto Rican 13% Dominican 3%
• Common ancestry: Romanian 3% Italian 1% Iranian 1%
• Foreign-born: 18% · Canada, China, Jamaica
• Languages at home: 72% English-only · Spanish 21% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.68%
• Current HPI: 311.5969
• Rent YoY: ▲ 8.23%
• 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

+232.9% since first listed

16 events — show timeline

• 2026-04-15 Price Changed $283,000 Global MLS
• 2026-03-31 Price Changed $288,000 Global MLS
• 2026-03-13 Price Changed $293,000 Global MLS
• 2026-02-24 Price Changed $303,000 Global MLS
• 2026-02-09 Price Changed $316,300 Global MLS
• 2026-01-21 Price Changed $332,900 Global MLS
• 2026-01-02 Listed $353,000 Global MLS
• 2013-02-15 Delisted — HGMLS
• 2013-02-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2012-02-16 Listed — HGMLS
• 2012-02-16 Listed $99,000 OneKey® MLS as Distributed by MLS Grid
• 2001-01-05 Sold (Public Records) $90,500 Public Records
• 2000-12-29 Sold (MLS) $85,000 HGMLS
• 2000-12-18 Price Changed $89,900 HGMLS
• 2000-12-18 Delisted — HGMLS
• 2000-09-12 Listed $85,000 HGMLS

Property tax history

-0.3%/yr

Latest (2025): $4,836 · +1.6% YoY. Source: county tax records.