52 Catharine St · Poughkeepsie, NY 12601

$419,000

4 bd · 2.0 ba · 2,398 sqft · MultiFamily public records · 116 Days on market

Built 1910 3,485 sqft lot $175/sqft · 17% below area Est $633k · 34% 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 +15.3/30.0
• ARV discount +15.0/15.0
• 1% rule +5.4/10.0
• DSCR +4.7/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Two Family Home Consisting Of (2) Three Bedroom, One Bath Apartments With Separate Utilities (Gas And Electric.) And Driveway For Parking Convenience. Each Unit Has A Combination Of Ceramic Tiled And Laminate Floors. Updates Include New Electric, New Furnaces, New Plumbing, New Roof And Updated Windows Throughout. There Is A Walkup Attic Plus An Unfinished Basement With Interior And Exterior Access. A City Parking Lot Is Directly Across The Road From This Bldg For Permit Parking. We Will Need Prior's Day Notice To Show. This Is An As Is Sale. Home Will Be Delivered With The Certificate Of Occupancy Presently On File.***Showings Between 11AM and 4PM Anyday WITH At Least Prior's Day Notice***Agents, Please See Other Remarks For More Information.

Key facts

• Separate utilities
• Driveway for parking
• Two family home

Tags

• TWO FAMILY HOME
• THREE BEDROOM APARTMENTS
• ONE BATH APARTMENTS
• SEPARATE UTILITIES
• DRIVEWAY FOR PARKING
• CERAMIC TILED FLOORS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $419k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive. Per door: $76/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $419k).
• Recommended offer: $381k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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.
• Market conditions: Rents rising (+3.7%/yr); 189 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $4,378/mo this rent would consume 83% of the median local household income ($64k/yr) (locally 2891% 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 $3k of loan paydown is wiped out by about $13k 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.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($381k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago 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 $35k; list at $419k implies a 1097% 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→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $381,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 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: 1.04% ✓
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• GRM: 8.0

CMA / ARV

• ARV (median comp): $633,398
• List price: $419,000
• Delta: -33.85%
• 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
32 Balding Ave	0.27mi	4/2.0	2,452 (+2%)	5mo	$405,000	$165	80
228 Mansion St	0.30mi	4/2.0	2,200 (-8%)	3mo	$465,000	$211	70
13 Grand St	0.38mi	5/3.0 (+1)	2,400 (+0%)	6mo	$489,250	$204	68
2-4 Elm Pl	0.30mi	4/4.0	2,309 (-4%)	6mo	$357,000	$155	67
150 Franklin St	0.66mi	4/2.0	2,380 (-1%)	10mo	$325,000	$137	60
164 Winnikee Ave	0.58mi	4/2.0	2,296 (-4%)	10mo	$355,000	$155	58
328 Church St	0.60mi	5/2.0 (+1)	2,473 (+3%)	8mo	$340,000	$137	55
190 Union St	0.41mi	4/2.0	2,080 (-13%)	5mo	$425,000	$204	54
69 Delafield St	0.71mi	4/2.0	2,200 (-8%)	6mo	$377,500	$172	48
61 Delafield St	0.70mi	4/2.0	2,659 (+11%)	4mo	$318,000	$120	46
93 Delafield St	0.75mi	4/2.0	2,750 (+15%)	1mo	$385,000	$140	40
30 S White St	0.65mi	5/2.0 (+1)	2,100 (-12%)	8mo	$380,000	$181	38

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: -12.9%
• Equity multiple: 0.53×
• Total profit: $-54,896
• Equity at exit: $62,474

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-21,648
• Equity at exit: $36,227

Cash invested: $117,320 (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: 189
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $4,378 high
• Mortgage (P&I): −$2,197
• Tax from tax record: −$934 /mo · $11,212/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$919
• Net cashflow: $152

Break-even live

Break-even rent $4,185

Max offer price $419,000

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,378
Total (2 units)			$4,378

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
236 Mansion St #2 Poughkeepsie, NY	3.0	1.0	2076	$2,600	$1.25	43d	1	0.31mi
15 Forbus St Poughkeepsie, NY	3.0	1.0	2140	$2,500	$1.17	23d	1	0.64mi
1 Dean Pl Poughkeepsie, NY	3.0	2.5	1700	$4,000	$2.35	14d	1	0.84mi
212 S Cherry St Unit 2 Poughkeepsie, NY	4.0	1.5	3100	$2,950	$0.95	14d	1	0.90mi
32 Salt Point Tpke Poughkeepsie, NY	3.0	2.5	1761	$3,000	$1.70	21d	1	1.13mi
50 Crestwood Blvd Poughkeepsie, NY	3.0	2.0	1600	$2,595	$1.62	14d	1	1.30mi

Listing history 8 events

1. 2026-05-06
   status Pending 755-char remark

   Show marketing remark (755 chars)

   Two Family Home Consisting Of (2) Three Bedroom, One Bath Apartments With Separate Utilities (Gas And Electric.) And Driveway For Parking Convenience. Each Unit Has A Combination Of Ceramic Tiled And Laminate Floors. Updates Include New Electric, New Furnaces, New Plumbing, New Roof And Updated Windows Throughout. There Is A Walkup Attic Plus An Unfinished Basement With Interior And Exterior Access. A City Parking Lot Is Directly Across The Road From This Bldg For Permit Parking. We Will Need Prior's Day Notice To Show. This Is An As Is Sale. Home Will Be Delivered With The Certificate Of Occupancy Presently On File.***Showings Between 11AM and 4PM Anyday WITH At Least Prior's Day Notice***Agents, Please See Other Remarks For More Information.

2. 2026-02-02
   price $419,000 755-char remark

   Show marketing remark (755 chars)

   Two Family Home Consisting Of (2) Three Bedroom, One Bath Apartments With Separate Utilities (Gas And Electric.) And Driveway For Parking Convenience. Each Unit Has A Combination Of Ceramic Tiled And Laminate Floors. Updates Include New Electric, New Furnaces, New Plumbing, New Roof And Updated Windows Throughout. There Is A Walkup Attic Plus An Unfinished Basement With Interior And Exterior Access. A City Parking Lot Is Directly Across The Road From This Bldg For Permit Parking. We Will Need Prior's Day Notice To Show. This Is An As Is Sale. Home Will Be Delivered With The Certificate Of Occupancy Presently On File.***Showings Between 11AM and 4PM Anyday WITH At Least Prior's Day Notice***Agents, Please See Other Remarks For More Information.

3. 2026-01-09
   listed $429,000 Active 755-char remark

   Show marketing remark (755 chars)

   Two Family Home Consisting Of (2) Three Bedroom, One Bath Apartments With Separate Utilities (Gas And Electric.) And Driveway For Parking Convenience. Each Unit Has A Combination Of Ceramic Tiled And Laminate Floors. Updates Include New Electric, New Furnaces, New Plumbing, New Roof And Updated Windows Throughout. There Is A Walkup Attic Plus An Unfinished Basement With Interior And Exterior Access. A City Parking Lot Is Directly Across The Road From This Bldg For Permit Parking. We Will Need Prior's Day Notice To Show. This Is An As Is Sale. Home Will Be Delivered With The Certificate Of Occupancy Presently On File.***Showings Between 11AM and 4PM Anyday WITH At Least Prior's Day Notice***Agents, Please See Other Remarks For More Information.

4. 2025-08-07
   historical
5. 2025-05-12
   listed $424,000 Active
6. 2009-05-08
   soldstatus $35,000
7. 2009-05-01
   historical
8. 2008-12-02
   listed

ⓘ 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: $11,212 · $934/mo
• Projected year-2 tax: $11,212 · $934/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 16 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: $52,536
• − Mortgage interest: −$23,471
• − Property taxes: −$11,212
• − Insurance: −$2,095
• − Repairs & maintenance: −$4,203
• − Management: −$4,203
• − Depreciation: −$12,189
• Taxable loss: −$4,836
• Est. tax savings @ 24.0%: +$1,161
• After-tax cash flow: $2,990/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

+1097.1% since first listed

8 events — show timeline

• 2026-05-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $419,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-09 Listed $429,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-12 Listed $424,000 OneKey® MLS as Distributed by MLS Grid
• 2009-05-08 Sold (Public Records) $35,000 Public Records
• 2009-05-01 Delisted — HGMLS
• 2008-12-02 Listed — HGMLS

Property tax history

+6.8%/yr

Latest (2025): $11,212 · +54.4% YoY. Source: county tax records.