50 Glanhope Rd #23 · Chelsea Cove, NY 12533

$55,000

1 bd · 1.0 ba · 750 sqft · Condo · 407 Days on market

Built 1945 Fair condition ↓ 35% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.8/15.0
• Schools +5.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Find your getaway! Located in the beautiful Hudson Valley, this seasonal home with oversized screened porch and large bedroom can easily sleep even the extended family! Additional 150 Sq/Ft deck adds entertaining space. Glanhope Co-Op is a private community of seasonal homes that features a secure gated entry, beautiful inground pool, a great lawn, playground, basketball court, laundry on site and a clubhouse/entertainment area with a pool table and ping pong table where you can host parties or just enjoy some time with friends. Just minutes away is Sylvan Lake featuring fishing, canoeing, kayaking and swimming. Nearby amenities include the Hudson River, Walkway over the Hudson, the Rail Trail, Appalachian trail, vineyards, fairgrounds, shopping and restaurants. PLEASE NOTE: MAINTAINED FROM APRIL TILL END OF OCTOBER, BUT ACCESSIBLE YEAR-ROUND. THE MAIN WATER IS SHUT OFF DURING THE WINTER MONTHS. THIS IS A PRIVATE COMMUNITY. NO DRIVE-BY VIEWINGS WITHOUT APPOINTMENT AS PER THE CO-OP BOARD OF DIRECTORS.

Key facts

• Inground pool
• Secure gated entry
• 150 sq/ft deck

Tags

• OVERSIZED SCREENED PORCH
• 150 SQ/FT DECK
• SECURE GATED ENTRY
• INGROUND POOL
• GREAT LAWN
• PLAYGROUND

🏢 Co-op / cooperative unit. The $55,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $55k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $895 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 25.8% vs local median 2.5% in Chelsea Cove — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: 202 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• This rent is only 16% of the median local income ($142k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 407 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 407 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
9. 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.
10. 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: 3.37% ✓
• Cap rate: 25.82%
• Cash-on-cash: 69.74%
• DSCR: 4.10
• GRM: 2.5

CMA / ARV

• ARV (median comp): $58,027
• List price: $55,000
• Delta: -5.22%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 69.4%
• Equity multiple: 4.13×
• Total profit: $48,239
• Equity at exit: $8,201

10-year hold

• IRR: 73.4%
• Equity multiple: 8.53×
• Total profit: $116,000
• Equity at exit: $4,755

Cash invested: $15,400 (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 12533

• Active inventory: 202
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,856 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA est. from 1 same-building comp: −$191
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $895

Break-even live

Break-even rent $723

Max offer price $55,000

Occupancy floor 47%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
71 Miller Rd Hopewell Junction, NY	2.0–4.0	1.0–2.0	750	$1,900	$2.53	43d	3	0.23mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterlandscapingpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-10
   status $55,000 Pending 407 DOM
2. 2026-06-09
   days on market $55,000 Active 407 DOM
3. 2026-06-08
   days on market $55,000 Active 406 DOM
4. 2026-06-07
   days on market $55,000 Active 405 DOM
5. 2026-06-03
   days on market $55,000 Active 401 DOM
6. 2026-06-02
   days on market $55,000 Active 400 DOM
7. 2026-06-01
   days on market $55,000 Active 399 DOM
8. 2026-05-31
   days on market $55,000 Active 398 DOM
9. 2026-05-30
   days on market $55,000 Active 397 DOM
10. 2026-05-01
    status Active 1015-char remark

    Show marketing remark (1015 chars)

    Find your getaway! Located in the beautiful Hudson Valley, this seasonal home with oversized screened porch and large bedroom can easily sleep even the extended family! Additional 150 Sq/Ft deck adds entertaining space. Glanhope Co-Op is a private community of seasonal homes that features a secure gated entry, beautiful inground pool, a great lawn, playground, basketball court, laundry on site and a clubhouse/entertainment area with a pool table and ping pong table where you can host parties or just enjoy some time with friends. Just minutes away is Sylvan Lake featuring fishing, canoeing, kayaking and swimming. Nearby amenities include the Hudson River, Walkway over the Hudson, the Rail Trail, Appalachian trail, vineyards, fairgrounds, shopping and restaurants. PLEASE NOTE: MAINTAINED FROM APRIL TILL END OF OCTOBER, BUT ACCESSIBLE YEAR-ROUND. THE MAIN WATER IS SHUT OFF DURING THE WINTER MONTHS. THIS IS A PRIVATE COMMUNITY. NO DRIVE-BY VIEWINGS WITHOUT APPOINTMENT AS PER THE CO-OP BOARD OF DIRECTORS.

11. 2026-05-01
    historical 1015-char remark

    Show marketing remark (1015 chars)

    Find your getaway! Located in the beautiful Hudson Valley, this seasonal home with oversized screened porch and large bedroom can easily sleep even the extended family! Additional 150 Sq/Ft deck adds entertaining space. Glanhope Co-Op is a private community of seasonal homes that features a secure gated entry, beautiful inground pool, a great lawn, playground, basketball court, laundry on site and a clubhouse/entertainment area with a pool table and ping pong table where you can host parties or just enjoy some time with friends. Just minutes away is Sylvan Lake featuring fishing, canoeing, kayaking and swimming. Nearby amenities include the Hudson River, Walkway over the Hudson, the Rail Trail, Appalachian trail, vineyards, fairgrounds, shopping and restaurants. PLEASE NOTE: MAINTAINED FROM APRIL TILL END OF OCTOBER, BUT ACCESSIBLE YEAR-ROUND. THE MAIN WATER IS SHUT OFF DURING THE WINTER MONTHS. THIS IS A PRIVATE COMMUNITY. NO DRIVE-BY VIEWINGS WITHOUT APPOINTMENT AS PER THE CO-OP BOARD OF DIRECTORS.

12. 2025-12-19
    price $55,000 1015-char remark

    Show marketing remark (1015 chars)

    Find your getaway! Located in the beautiful Hudson Valley, this seasonal home with oversized screened porch and large bedroom can easily sleep even the extended family! Additional 150 Sq/Ft deck adds entertaining space. Glanhope Co-Op is a private community of seasonal homes that features a secure gated entry, beautiful inground pool, a great lawn, playground, basketball court, laundry on site and a clubhouse/entertainment area with a pool table and ping pong table where you can host parties or just enjoy some time with friends. Just minutes away is Sylvan Lake featuring fishing, canoeing, kayaking and swimming. Nearby amenities include the Hudson River, Walkway over the Hudson, the Rail Trail, Appalachian trail, vineyards, fairgrounds, shopping and restaurants. PLEASE NOTE: MAINTAINED FROM APRIL TILL END OF OCTOBER, BUT ACCESSIBLE YEAR-ROUND. THE MAIN WATER IS SHUT OFF DURING THE WINTER MONTHS. THIS IS A PRIVATE COMMUNITY. NO DRIVE-BY VIEWINGS WITHOUT APPOINTMENT AS PER THE CO-OP BOARD OF DIRECTORS.

13. 2025-09-10
    price $49,999 1015-char remark

    Show marketing remark (1015 chars)

    Find your getaway! Located in the beautiful Hudson Valley, this seasonal home with oversized screened porch and large bedroom can easily sleep even the extended family! Additional 150 Sq/Ft deck adds entertaining space. Glanhope Co-Op is a private community of seasonal homes that features a secure gated entry, beautiful inground pool, a great lawn, playground, basketball court, laundry on site and a clubhouse/entertainment area with a pool table and ping pong table where you can host parties or just enjoy some time with friends. Just minutes away is Sylvan Lake featuring fishing, canoeing, kayaking and swimming. Nearby amenities include the Hudson River, Walkway over the Hudson, the Rail Trail, Appalachian trail, vineyards, fairgrounds, shopping and restaurants. PLEASE NOTE: MAINTAINED FROM APRIL TILL END OF OCTOBER, BUT ACCESSIBLE YEAR-ROUND. THE MAIN WATER IS SHUT OFF DURING THE WINTER MONTHS. THIS IS A PRIVATE COMMUNITY. NO DRIVE-BY VIEWINGS WITHOUT APPOINTMENT AS PER THE CO-OP BOARD OF DIRECTORS.

14. 2025-04-28
    listed $65,000 Active 1015-char remark

    Show marketing remark (1015 chars)

    Find your getaway! Located in the beautiful Hudson Valley, this seasonal home with oversized screened porch and large bedroom can easily sleep even the extended family! Additional 150 Sq/Ft deck adds entertaining space. Glanhope Co-Op is a private community of seasonal homes that features a secure gated entry, beautiful inground pool, a great lawn, playground, basketball court, laundry on site and a clubhouse/entertainment area with a pool table and ping pong table where you can host parties or just enjoy some time with friends. Just minutes away is Sylvan Lake featuring fishing, canoeing, kayaking and swimming. Nearby amenities include the Hudson River, Walkway over the Hudson, the Rail Trail, Appalachian trail, vineyards, fairgrounds, shopping and restaurants. PLEASE NOTE: MAINTAINED FROM APRIL TILL END OF OCTOBER, BUT ACCESSIBLE YEAR-ROUND. THE MAIN WATER IS SHUT OFF DURING THE WINTER MONTHS. THIS IS A PRIVATE COMMUNITY. NO DRIVE-BY VIEWINGS WITHOUT APPOINTMENT AS PER THE CO-OP BOARD OF DIRECTORS.

15. 2025-01-01
    historical
16. 2024-10-15
    price $57,500
17. 2024-08-08
    price $64,999
18. 2024-06-02
    price $69,000
19. 2024-03-15
    listed $79,999 Active
20. 2024-02-03
    historical
21. 2023-07-16
    listed $85,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $22,270
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − HOA: −$2,292
• − Depreciation: −$1,600
• Taxable income: $10,634
• Est. tax owed @ 24.0%: −$2,552
• After-tax cash flow: $8,188/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to improve its condition and increase its value. The kitchen and bathroom need updates, and the exterior requires painting and repairs. Improvements will attract more buyers and renters.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Moderate exterior siding — visible wear and tear
• Moderate interior walls — paint peeling and discoloration
• Moderate windows — some screens missing

Value-add opportunities

• Resale update kitchen cabinets and appliances — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures and tiles — modernizing the bathroom will attract more buyers
• Both paint exterior and repair siding — improving the exterior will increase both resale and rental value
• Both repair windows and replace screens — improving the windows will increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
exterior siding · visible wear and tear	Moderate	$3,000–15,000
interior walls · paint peeling and discoloration	Moderate	$3,000–15,000
windows · some screens missing	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Resale update kitchen cabinets and appliances — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures and tiles — modernizing the bathroom will attract more buyers ↑
• Both paint exterior and repair siding — improving the exterior will increase both resale and rental value ↑
• Both repair windows and replace screens — improving the windows will increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Chelsea Cove

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Dutchess County · 188,048 people
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 27,325
• Household income: $141,585
• Rent vs Own: 10.3% rent · 89.7% own
• Severe rent burden: 190.0

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Two or more races 13% Asian 6% Black 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Dominican 3%
• Common ancestry: Romanian 3% Italian 2% Lithuanian 2%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 83% English-only · Spanish 9% Other Indo-European 3% Arabic 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: ▼ -140.32%
• Current HPI: 232.2351
• Rent YoY: —
• 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

-35.3% since first listed

12 events — show timeline

• 2026-05-01 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-05-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-19 Price Changed $55,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-10 Price Changed $49,999 OneKey® MLS as Distributed by MLS Grid
• 2025-04-28 Listed $65,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-10-15 Price Changed $57,500 OneKey® MLS as Distributed by MLS Grid
• 2024-08-08 Price Changed $64,999 OneKey® MLS as Distributed by MLS Grid
• 2024-06-02 Price Changed $69,000 OneKey® MLS as Distributed by MLS Grid
• 2024-03-15 Listed $79,999 OneKey® MLS as Distributed by MLS Grid
• 2024-02-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-07-16 Listed $85,000 OneKey® MLS as Distributed by MLS Grid