140 Albany Ave · Kingston, NY 12401

$499,000

None bd · None ba · — sqft · MultiFamily · 62 Days on market

Built 1850 5,850 sqft lot

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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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Rent growth +4.5/5.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• 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: 3 units. confirmed

Listing remarks

Three-Family Brick Investment Property Well-maintained brick three-family home in excellent condition, featuring recent upgrades that make this property a well-run, low-maintenance investment. Located in the heart of the City of Kingston, this turnkey asset offers charm, functionality, and strong upside potential. The property currently generates $4,750 in monthly rental income with separate utilities, with room to increase. Unit 1 in front has 2 floors, features a spacious living room, large dining area, and kitchen on the main level, with two bedrooms and a full bath upstairs. Through the kitchen, this unit also provides access to a large basement with bonus finished living space. Unit 2,

Key facts

• Separate utilities
• Recent upgrades
• Three family home

Tags

• THREE FAMILY HOME
• RECENT UPGRADES
• SEPARATE UTILITIES
• LARGE BASEMENT
• PRIVATE ENTRANCE
• ORIGINAL DETAILS

Property features AI

Exterior

• Parking: Driveway parking; 3 total parking spaces
• Utilities: Public sewer; Electricity connected; Natural gas connected
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Near public transit; Not waterfront

Interior

• Heating & cooling: Baseboard heating; No central cooling
• Interior features: High ceilings; Full basement

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/?-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $997 ($12k/yr) — positive. Per door: $332/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $499k).
• Recommended offer: $469k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.0% in Kingston — 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 82/100 on livability (#74 in NY, #1,143 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime C-.
• Kingston City School District (urban): math 44% / reading 59% proficiency, ranked #355 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Kingston High School (math 94% / reading 91%, grade A+, #153 of 1,100 statewide, top 14%, 1,856 students, 85% FRL) — zoned schools average 85% FRL vs 45% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 92% at this address vs 52% district-wide (+41 pts) — the actual schools serving this property are materially stronger than the Kingston City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.8%/yr); 225 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).
• At $5,627/mo this rent would consume 97% of the median local household income ($69k/yr) (locally 2045% 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 $15k of value loss. Plan a longer hold.
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $140k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($469k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $469,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 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 1850 — 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. 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?
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: 1.13% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.56%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 Albany Ave	0.00mi	—/—	—	0mo	$482,000	—	87
144 Prospect St	0.14mi	4/2.0	—	4mo	$375,000	—	77
29 Henry St	0.25mi	3/2.0	1,636	3mo	$237,500	$145	73
51 Henry St	0.26mi	2/1.0	2,079	5mo	$340,000	$164	71
101 Bruyn Ave	0.41mi	3/2.0	1,818	0mo	$300,000	$165	68
165 Fair St	0.41mi	6/5.0	3,885	4mo	$285,000	$73	65
170 Downs St	0.45mi	3/—	—	2mo	$330,000	—	65
199 Greenkill Ave	0.51mi	6/2.0	1,936	1mo	$405,000	$209	63
192 Washington Ave	0.59mi	3/2.0	1,682	2mo	$399,000	$237	58
95 Green St	0.60mi	15/—	6,688	4mo	$1,440,000	$215	56
36 Prince St	0.72mi	5/—	2,450	0mo	$374,000	$153	54
185 Green St	0.74mi	3/2.0	1,816	4mo	$310,000	$171	49

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 · 7.81% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $11,270
• Equity at exit: $74,403

10-year hold

• IRR: 15.9%
• Equity multiple: 2.58×
• Total profit: $221,352
• Equity at exit: $43,144

Cash invested: $139,720 (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 12401

• Rents YoY: 7.8%
• Active inventory: 225
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $5,627 medium
• Mortgage (P&I): −$2,617
• Tax est. 1.5%: −$624 /mo · $7,485/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,182
• Net cashflow: $997

Break-even live

Break-even rent $4,365

Max offer price $499,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,342	-5% $1,169	+0% $997	+5% $824	+10% $652
Rent	-10% $552	-5% $775	+0% $997	+5% $1,219	+10% $1,441
Rate	-1.0pp $1,248	-0.5pp $1,124	base $997	+0.5pp $868	+1.0pp $736

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	—	$5,628
Total (3 units)			$5,627

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
549 Albany Ave Kingston, NY	1.0	1.0	547	$1,750	$3.20	14d	2	0.97mi
180 W Chestnut St Kingston, NY	1.0–2.0	1.0–2.0	875	$2,000	$2.29	24d	3	1.26mi
2106 Fernway Rd Kingston, NY	1.0–3.0	1.0–2.0	—	$1,625	—	44d	1	1.37mi
13 2nd Ave Kingston, NY	2.0	1.0	753	$1,800	$2.39	14d	1	1.40mi

Listing history 2 events

1. 2026-04-14
   status Pending
2. 2026-02-11
   listed $499,000 Active

ⓘ 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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,524
• − Mortgage interest: −$27,952
• − Property taxes: −$7,485
• − Insurance: −$2,495
• − Repairs & maintenance: −$5,402
• − Management: −$5,402
• − Depreciation: −$14,516
• Taxable income: $4,272
• Est. tax owed @ 24.0%: −$1,025
• After-tax cash flow: $10,937/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: Kingston City School District
• NCES district ID: 3616290
• Math proficiency: 44% ▲ 1.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $52,586
• Composite: 44.22/100
• National rank: #2849
• State rank: #355 of 590 in NY

Livability — Kingston

• Score: 82/100
• State rank: #74
• US rank: #1143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kingston, NY
• County: Ulster County · 56,183 people
• City population: 35,136
• Metro: Kingston, NY
• Population (ZIP): 35,136
• Household income: $69,305
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 2045.0

Population outlook (Ulster County) Hauer SSP2

• Today (2025): 175,887 people
• By 2030: 171,876 · -2.3%
• By 2040: 161,771 · -8.0%
• By 2050: 151,470 · -13.9%
• By 2075: 133,023 · -24.4%
• By 2100: 113,504 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 14% Black 11% Two or more races 10% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Ulster

• 2024 margin: D (+18.7) · D 59.3% · R 40.7%
• 2008→2024 swing: -4.9pp toward R · 2008: 23.6pp · 2024: 18.7pp
• All cycles: 2024: D+18.7 2020: D+20.9 2016: D+9.1 2012: D+21.9 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -262.90%
• Current HPI: 369.1984
• Rent YoY: ▲ 7.81%
• Metro: Kingston, 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

2 events — show timeline

• 2026-04-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-11 Listed $499,000 OneKey® MLS as Distributed by MLS Grid