825 Union St · Hudson, NY 12534

$899,900

16 bd · 16.0 ba · 5,288 sqft · MultiFamily public records · 68 Days on market

Built 1974 7,405 sqft lot $170/sqft · 44% below area Est $1035k · 13% under

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Why this score? — see what drove the A- 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 +28.7/30.0
• ARV discount +13.4/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.2/10.0
• Rent growth +5.0/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. 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

Turnkey multi-family investment property in the heart of Hudson! This well-maintained 4-unit apartment building showcases four spacious 1-bedroom apartments, each filled with natural light and thoughtfully laid out with a comfortable living room, dining area or formal dining room, full kitchen, full bath, and convenient in-unit washer/dryer hookups. This income-producing property is fully equipped with separate utilities, including four hot water boilers, four gas meters, and five electric services (including a landlord meter), creating an efficient and investor-friendly setup. Current gross rental income is generated from a mix of short-term rentals, long-term tenants, and parking fees. Two long-term tenants have been in place for over five years, adding an extra layer of stability and consistency. Exterior amenities add to the charm and functionality, including an enclosed front entry, inviting rear patio, second-floor balcony, sizable backyard, gardening shed, and off-street parking, all enhancing tenant appeal and overall rental value. Located just steps from vibrant Warren Street, this property offers exceptional walkability to downtown Hudson's beloved shops, restaurants, boutiques, art galleries, nightlife, and year-round local events, making it highly desirable for both residents and visitors alike. A rare opportunity to own a high-performing, exceptional multi-family property in a prime location, perfect for investors seeking strong cash flow, long-term appreciation potential, and flexible use.

Key facts

• 7,405 sq ft lot
• Built 1974
• Listed 67 days

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $900k.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $749/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $900k).
• Recommended offer: $846k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.3% in Hudson — 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 70/100 on livability (#430 in NY) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+; Watch: schools C-, commute F, employment F.
• Hudson City School District (town): math 38% / reading 47% proficiency, ranked #494 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.9%/yr); 161 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• At $10,974/mo this rent would consume 181% of the median local household income ($73k/yr) (locally 1083% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $96k of equity ($6k loan paydown + $90k appreciation (10.0% local appreciation)).
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $252k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$155k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($846k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $400k; list at $900k implies a 125% gain — meaningful room to come down on a strong offer.

Recommended offer $845,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.22% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.28%
• DSCR: 1.64
• GRM: 6.8

CMA / ARV

• ARV (median comp): $1,035,435
• List price: $899,900
• Delta: -13.09%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 37.1%
• Equity multiple: 3.93×
• Total profit: $738,865
• Equity at exit: $810,701

10-year hold

• IRR: 33.7%
• Equity multiple: 9.61×
• Total profit: $2,169,023
• Equity at exit: $1,748,308

Cash invested: $251,972 (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 12534

• Home prices YoY: 5.6%
• Rents YoY: 10.9%
• Active inventory: 161
• Price-to-rent: 27.3×

Monthly cashflow live

• Estimated rent: $10,974 high
• Mortgage (P&I): −$4,719
• Tax from tax record: −$578 /mo · $6,930/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,305
• Net cashflow: $2,998

Break-even live

Break-even rent $7,179

Max offer price $899,900

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$10,976
Total (4 units)			$10,974

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: $224,975
• Closing costs: $26,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $899,900 Active 68 DOM
2. 2026-06-18
   days on market $899,900 Active 67 DOM
3. 2026-06-17
   days on market $899,900 Active 66 DOM
4. 2026-06-16
   days on market $899,900 Active 65 DOM
5. 2026-06-15
   days on market $899,900 Active 64 DOM
6. 2026-06-14
   days on market $899,900 Active 62 DOM
7. 2026-06-12
   days on market $899,900 Active 61 DOM
8. 2026-06-09
   days on market $899,900 Active 58 DOM
9. 2026-06-08
   days on market $899,900 Active 57 DOM
10. 2026-06-07
    pricedays on market $899,900 Active 56 DOM
11. 2026-06-04
    days on market $949,900 Active 52 DOM
12. 2026-06-02
    days on market $949,900 Active 51 DOM
13. 2026-06-01
    days on market $949,900 Active 50 DOM
14. 2026-05-31
    days on market $949,900 Active 49 DOM
15. 2026-05-31
    days on market $949,900 Active 48 DOM
16. 2026-04-13
    listed $949,900 Active 1528-char remark

    Show marketing remark (1528 chars)

    Turnkey multi-family investment property in the heart of Hudson! This well-maintained 4-unit apartment building showcases four spacious 1-bedroom apartments, each filled with natural light and thoughtfully laid out with a comfortable living room, dining area or formal dining room, full kitchen, full bath, and convenient in-unit washer/dryer hookups. This income-producing property is fully equipped with separate utilities, including four hot water boilers, four gas meters, and five electric services (including a landlord meter), creating an efficient and investor-friendly setup. Current gross rental income is generated from a mix of short-term rentals, long-term tenants, and parking fees. Two long-term tenants have been in place for over five years, adding an extra layer of stability and consistency. Exterior amenities add to the charm and functionality, including an enclosed front entry, inviting rear patio, second-floor balcony, sizable backyard, gardening shed, and off-street parking, all enhancing tenant appeal and overall rental value. Located just steps from vibrant Warren Street, this property offers exceptional walkability to downtown Hudson's beloved shops, restaurants, boutiques, art galleries, nightlife, and year-round local events, making it highly desirable for both residents and visitors alike. A rare opportunity to own a high-performing, exceptional multi-family property in a prime location, perfect for investors seeking strong cash flow, long-term appreciation potential, and flexible use.

17. 2025-09-11
    price $949,900
18. 2025-03-25
    listed $975,000 Active
19. 2019-07-30
    soldstatus $400,000
20. 1999-11-09
    soldstatus $110,000

ⓘ 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: $6,930 · $578/mo
• Projected year-2 tax: $11,069 · $922/mo
• Expected delta: +$4,139/yr (+$345/mo · 59.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $131,688
• − Mortgage interest: −$50,408
• − Property taxes: −$6,930
• − Insurance: −$4,500
• − Repairs & maintenance: −$10,535
• − Management: −$10,535
• − Depreciation: −$26,179
• Taxable income: $22,601
• Est. tax owed @ 24.0%: −$5,424
• After-tax cash flow: $30,549/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: Hudson City School District
• NCES district ID: 3614940
• Math proficiency: 38% ▲ 4.00%
• Reading proficiency: 47% ▲ 7.00%
• Median HH income: $44,663
• Composite: 36.03/100
• National rank: #4779
• State rank: #494 of 590 in NY

Livability — Hudson

• Score: 70/100
• State rank: #430
• US rank: #7443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hudson, NY
• County: Columbia County · 17,176 people
• City population: 17,176
• Metro: Hudson, NY
• Population (ZIP): 17,176
• Household income: $72,741
• Rent vs Own: 36.4% rent · 63.6% own
• Severe rent burden: 1083.0

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 58,662 people
• By 2030: 56,557 · -3.6%
• By 2040: 51,324 · -12.5%
• By 2050: 45,790 · -21.9%
• By 2075: 35,232 · -39.9%
• By 2100: 25,846 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 7% Black 7% Hispanic / Latino 7% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Romanian 4% Iranian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Chinese 1%

Political lean MEDSL · Columbia

• 2024 margin: D (+14.7) · D 57.4% · R 42.6%
• 2008→2024 swing: +1.3pp toward D · 2008: 13.4pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+16.7 2016: D+1.4 2012: D+11.7 2008: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.98%
• Current HPI: 490.0412
• Rent YoY: ▲ 10.88%
• Metro: Hudson, 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

+763.5% since first listed

5 events — show timeline

• 2026-04-13 Listed $949,900 HVCRMLS
• 2025-09-11 Price Changed $949,900 HVCRMLS
• 2025-03-25 Listed $975,000 HVCRMLS
• 2019-07-30 Sold (Public Records) $400,000 Public Records
• 1999-11-09 Sold (Public Records) $110,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $6,930 · -4.6% YoY. Source: county tax records.