80 County Route 7 · Pine Plains, NY 12567

$599,000

5 bd · 2.5 ba · 3,510 sqft · MultiFamily public records · 47 Days on market

Built 1850 1.30 ac lot

---

Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.1/30.0
• ARV discount +7.5/15.0
• Schools +4.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +2.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This beautifully updated legal 2-family home seamlessly blends vintage charm with modern convenience, offering exceptional flexibility for multigenerational living, rental income, or guest accommodations. Located just 7 minutes from Pine Plains Village and set on a scenic lot with sweeping countryside views and a neighboring 200-acre farm, the property features meticulously maintained grounds, two storage sheds for garden tools and recreational items, and ample off-street parking. The main house offers 4 spacious bedrooms and 3 full baths, a large sunlit living room, a formal dining room, original hardwood floors, a grand staircase with the original banister, and a finished attic—perfect for a playroom, studio, or home office. The renovated kitchen features granite countertops, stainless steel appliances, an oversized island, tile flooring, and an electric fireplace, with a separate laundry room and an additional full bath located on the main level. The private second unit (or guest wing) is a legal 3 BR/2 Bth apartment and includes a first-floor primary bedroom with a walk-in shower, an open-concept living and dining area with beautiful views, two more bedrooms and a full bath upstairs, plus convenient second-floor laundry. Both units share a heated enclosed porch/mudroom for entry, while the main house also enjoys a formal front entrance with vintage appeal. Currently tenant-occupied on month to month contracts. Please contact the broker for rent roll, expenses, and additional details. A new 2000 gallon septic system was installed in 2021. Heating is provided by oil with central air in Unit 1, and mini-split systems were added to Unit 2 in 2023 for efficient year-round climate control. This is a truly unique Hudson Valley opportunity, perfectly positioned on the Ancram border and just two hours to Manhattan by car, or 20 minutes to Hudson for Amtrak access. There's so much to love! Come see for yourself! Photos have been virtually staged.

Key facts

• Formal dining room
• Updated in 2020
• Electric fireplace

Tags

• RENOVATED COLONIAL FARMHOUSE
• UPDATED IN 2020
• FORMAL DINING ROOM
• OPEN KITCHEN
• ELECTRIC FIREPLACE
• OVERSIZED LIVING ROOM

Property features AI

Exterior

• Parking: Driveway
• Utilities: Central Hudson electric service; Septic tank; Cable connected; Electricity connected
• Home design: Single family residence; Updated/remodeled
• Construction: Frame construction; Energy Star
• Exterior features: Frame construction; Energy Star features; Not waterfront

Interior

• Kitchen: Chef's kitchen with granite counters; Kitchen island; Eat-in dining area; Dishwasher; Electric range; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: Master downstairs; Additional bedrooms include a first-floor bedroom
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Five full bathrooms; Double vanity; Soaking tub; Primary bathroom on main level
• Heating & cooling: Central air; Ductless cooling; Electric cooling; Electric heating; Heat pump; Oil heating; Electric fireplace
• Interior features: First-floor bedroom; First-floor full bath; Chef's kitchen; Double vanity; Eat-in kitchen; Entrance foyer; Formal dining room; Granite counters; In-law floorplan; Kitchen island; Natural woodwork; Open floorplan; Original details; Primary bathroom; Master bedroom on main level; Recessed lighting; Soaking tub; Finished attic; Full unfinished basement
• Laundry & utility: Washer and dryer inside

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $-595 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $494k (17.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $438k (27.0% below list).
• Recommended offer: $438k (27.0% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 2.6% in Pine Plains — 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 64/100 on livability (#746 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B+; Watch: cost of living D+, amenities F, commute F.
• Pine Plains Central School District (rural): math 55% / reading 50% proficiency, ranked #372 of 755 in NY (top 49%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cold Spring Early Learning Center (165 students, 12% FRL); Stissing Mountain Junior/Senior High School (math 92% / reading 75%, grade A, #409 of 1,100 statewide, top 39%, 460 students, 36% FRL) — zoned schools at 24% FRL track the district average.
• Zoned-school proficiency averages 84% at this address vs 52% district-wide (+31 pts) — the actual schools serving this property are materially stronger than the Pine Plains Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 39 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $64k of equity ($4k loan paydown + $60k 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.
• By year 2, paydown + projected appreciation supports a ~$103k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($581k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $66k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $437,500 (27.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.73% ✗
• Cap rate: 5.10%
• Cash-on-cash: -4.26%
• DSCR: 0.81
• GRM: 11.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 2.72×
• Total profit: $288,329
• Equity at exit: $539,627

10-year hold

• IRR: 19.2%
• Equity multiple: 6.24×
• Total profit: $878,920
• Equity at exit: $1,163,725

Cash invested: $167,720 (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 12567

• Home prices YoY: 18.7%
• Active inventory: 39
• Price-to-rent: 22.8×

Monthly cashflow live

• Estimated rent: $4,375 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$661 /mo · $7,929/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$919
• Net cashflow: $-595

Break-even live

Break-even rent $5,129

Max offer price $493,839

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,374
Total (2 units)			$4,375

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $599,000 Active 47 DOM
2. 2026-06-17
   days on market $599,000 Active 46 DOM
3. 2026-06-16
   days on market $599,000 Active 45 DOM
4. 2026-06-15
   pricedays on market $599,000 Active 44 DOM
5. 2026-06-14
   days on market $649,000 Active 42 DOM

   Show marketing remark (1983 chars)

   This beautifully updated legal 2-family home seamlessly blends vintage charm with modern convenience, offering exceptional flexibility for multigenerational living, rental income, or guest accommodations. Located just 7 minutes from Pine Plains Village and set on a scenic lot with sweeping countryside views and a neighboring 200-acre farm, the property features meticulously maintained grounds, two storage sheds for garden tools and recreational items, and ample off-street parking. The main house offers 4 spacious bedrooms and 3 full baths, a large sunlit living room, a formal dining room, original hardwood floors, a grand staircase with the original banister, and a finished attic—perfect for a playroom, studio, or home office. The renovated kitchen features granite countertops, stainless steel appliances, an oversized island, tile flooring, and an electric fireplace, with a separate laundry room and an additional full bath located on the main level. The private second unit (or guest wing) is a legal 3 BR/2 Bth apartment and includes a first-floor primary bedroom with a walk-in shower, an open-concept living and dining area with beautiful views, two more bedrooms and a full bath upstairs, plus convenient second-floor laundry. Both units share a heated enclosed porch/mudroom for entry, while the main house also enjoys a formal front entrance with vintage appeal. Currently tenant-occupied on month to month contracts. Please contact the broker for rent roll, expenses, and additional details. A new 2000 gallon septic system was installed in 2021. Heating is provided by oil with central air in Unit 1, and mini-split systems were added to Unit 2 in 2023 for efficient year-round climate control. This is a truly unique Hudson Valley opportunity, perfectly positioned on the Ancram border and just two hours to Manhattan by car, or 20 minutes to Hudson for Amtrak access. There's so much to love! Come see for yourself! Photos have been virtually staged.

6. 2026-06-10
   days on market $649,000 Active 39 DOM
7. 2026-06-09
   days on market $649,000 Active 38 DOM
8. 2026-06-08
   days on market $649,000 Active 37 DOM
9. 2026-06-07
   days on market $649,000 Active 36 DOM
10. 2026-06-05
    days on market $649,000 Active 33 DOM
11. 2026-06-03
    days on market $649,000 Active 32 DOM
12. 2026-06-02
    days on market $649,000 Active 31 DOM
13. 2026-06-01
    days on market $649,000 Active 30 DOM
14. 2026-05-31
    days on market $649,000 Active 29 DOM
15. 2026-05-30
    days on market $649,000 Active 28 DOM
16. 2026-04-30
    listed $665,000 Active 1469-char remark
17. 2026-04-01
    listed $665,000 Active 1983-char remark

    Show marketing remark (1983 chars)

    This beautifully updated legal 2-family home seamlessly blends vintage charm with modern convenience, offering exceptional flexibility for multigenerational living, rental income, or guest accommodations. Located just 7 minutes from Pine Plains Village and set on a scenic lot with sweeping countryside views and a neighboring 200-acre farm, the property features meticulously maintained grounds, two storage sheds for garden tools and recreational items, and ample off-street parking. The main house offers 4 spacious bedrooms and 3 full baths, a large sunlit living room, a formal dining room, original hardwood floors, a grand staircase with the original banister, and a finished attic—perfect for a playroom, studio, or home office. The renovated kitchen features granite countertops, stainless steel appliances, an oversized island, tile flooring, and an electric fireplace, with a separate laundry room and an additional full bath located on the main level. The private second unit (or guest wing) is a legal 3 BR/2 Bth apartment and includes a first-floor primary bedroom with a walk-in shower, an open-concept living and dining area with beautiful views, two more bedrooms and a full bath upstairs, plus convenient second-floor laundry. Both units share a heated enclosed porch/mudroom for entry, while the main house also enjoys a formal front entrance with vintage appeal. Currently tenant-occupied on month to month contracts. Please contact the broker for rent roll, expenses, and additional details. A new 2000 gallon septic system was installed in 2021. Heating is provided by oil with central air in Unit 1, and mini-split systems were added to Unit 2 in 2023 for efficient year-round climate control. This is a truly unique Hudson Valley opportunity, perfectly positioned on the Ancram border and just two hours to Manhattan by car, or 20 minutes to Hudson for Amtrak access. There's so much to love! Come see for yourself! Photos have been virtually staged.

18. 2025-06-12
    price $699,000
19. 2025-06-08
    price $725,000
20. 2025-05-09
    listed $750,000 Active
21. 2021-08-21
    historical
22. 2021-08-21
    historical
23. 2021-02-21
    listed $575,000
24. 2021-02-21
    listed $575,000

ⓘ 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: $7,929 · $661/mo
• Projected year-2 tax: $9,026 · $752/mo
• Expected delta: +$1,097/yr (+$91/mo · 13.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥95°F today · 16 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,500
• − Mortgage interest: −$33,553
• − Property taxes: −$7,929
• − Insurance: −$2,995
• − Repairs & maintenance: −$4,200
• − Management: −$4,200
• − Depreciation: −$17,425
• Taxable loss: −$17,803
• Est. tax savings @ 24.0%: +$4,273
• After-tax cash flow: $-2,871/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: Pine Plains Central School District
• NCES district ID: 3623040
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $66,189
• Composite: 48.33/100
• National rank: #4688
• State rank: #372 of 755 in NY

Livability — Pine Plains

• Score: 64/100
• State rank: #746
• US rank: #14240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,498
• Population (ZIP): 2,498

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 (85%)
• Race & ethnicity: White 85% Two or more races 8% Hispanic / Latino 7% Pacific Islander 2% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 3% Scotch-Irish 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 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: ▲ 50.77%
• Current HPI: 322.2342
• Rent YoY: —
• Metro: —
• 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

+4.2% since first listed

13 events — show timeline

• 2026-06-14 Price Changed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2026-06-14 Price Changed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-28 Price Changed $649,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-28 Price Changed $649,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-30 Listed $665,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-01 Listed $665,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-12 Price Changed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-08 Price Changed $725,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-09 Listed $750,000 OneKey® MLS as Distributed by MLS Grid
• 2021-08-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-08-21 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2021-02-21 Listed $575,000 OneKey® MLS as Distributed by MLS Grid
• 2021-02-21 Listed $575,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2025): $7,929 · -6.0% YoY. Source: county tax records.