71 Lander St · Newburgh, NY 12550

$385,000

6 bd · 2.0 ba · 2,314 sqft · MultiFamily public records · 14 Days on market

Built 1890 3,800 sqft lot Est $352k · 9% over

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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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +3.5/10.0
• ARV discount +3.2/15.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Cash or 203K loan only. Property has suffered damage and is being SOLD AS IS WHERE IS. Property is on a double lot.

Key facts

• Flexible space
• Convenient location
• Off-street parking

Tags

• CORNER LOT
• OFF-STREET PARKING
• FINISHED LOWER LEVEL
• FLEXIBLE SPACE
• EASY ACCESS TO PARKS
• CONVENIENT LOCATION

Property features AI

Finance

• Financial info: Tax year 2025 (tax amount reported)

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected; Private trash collection
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick exterior; Corner lot; Not waterfront

Interior

• Kitchen: Eat-in kitchen (appliances not specified)
• Bedrooms: Two 3-bedroom units
• Bathrooms: Two full bathrooms
• Heating & cooling: Baseboard heating; No central air conditioning
• Interior features: Eat-in kitchen; Finished full basement
• Laundry & utility: Utilities connected: electricity, natural gas, water; private trash collection

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $385k).
• Cap rate 10.4% vs local median 4.4% in Newburgh — 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 62/100 on livability (#878 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+, cost of living B; Watch: employment D+, crime F, amenities F.
• Newburgh City School District (suburban): math 33% / reading 48% proficiency, ranked #500 of 590 in NY (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Newburgh Free Academy (math 76% / reading 85%, grade A, #506 of 1,100 statewide, top 46%, 3,433 students, 56% FRL).
• Zoned-school proficiency averages 80% at this address vs 40% district-wide (+40 pts) — the actual schools serving this property are materially stronger than the Newburgh City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 383 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).
• At $5,547/mo this rent would consume 78% of the median local household income ($86k/yr) (locally 2412% 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 $12k of value loss. Plan a longer hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 15y 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 $15k; list at $385k implies a 2467% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1890 — 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 $385,000

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.44% ✓
• Cap rate: 10.37%
• Cash-on-cash: 14.56%
• DSCR: 1.65
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $351,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 Johnston St	0.24mi	5/3.0 (-1)	2,240 (-3%)	1mo	$285,000	$127	74
181 First St	0.09mi	5/2.0 (-1)	2,450 (+6%)	15mo	$335,000	$137	68
52 Benkard Ave	0.51mi	6/3.0	2,400 (+4%)	5mo	$375,000	$156	62
16 Lutheran St	0.28mi	6/2.0	2,508 (+8%)	13mo	$380,000	$152	62
60 Johnston St	0.07mi	6/2.0	2,625 (+13%)	18mo	$298,000	$114	59
186 S William St	0.48mi	5/3.0 (-1)	2,160 (-7%)	8mo	$408,000	$189	51
298 Liberty St	0.27mi	6/3.0	2,573 (+11%)	20mo	$370,000	$144	48
2 Carson Ave	0.65mi	5/3.0 (-1)	2,396 (+4%)	9mo	$375,000	$157	47
15 E Parmenter St	0.37mi	5/2.5 (-1)	2,468 (+7%)	24mo	$555,000	$225	45
121 Gidney Ave	0.48mi	6/2.0	1,992 (-14%)	22mo	$456,000	$229	36
138 Benkard Ave	0.58mi	5/2.0 (-1)	2,004 (-13%)	15mo	$200,000	$100	33
48 Overlook Pl	0.67mi	6/4.0	2,060 (-11%)	22mo	$300,000	$146	25

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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $8,329
• Equity at exit: $57,405

10-year hold

• IRR: 9.0%
• Equity multiple: 1.61×
• Total profit: $65,323
• Equity at exit: $33,288

Cash invested: $107,800 (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 12550

• Home prices YoY: -33.3%
• Rents YoY: 0.6%
• Active inventory: 383
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $5,547 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$895 /mo · $10,738/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,165
• Net cashflow: $1,308

Break-even live

Break-even rent $3,891

Max offer price $385,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,547
Total (3 units)			$5,547

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
87 Ellis Ave Newburgh, NY	5.0	2.5	2172	$2,500	$1.15	43d	1	1.33mi

Listing history 11 events

1. 2026-06-18
   days on market $385,000 Active 14 DOM
2. 2026-06-17
   days on market $385,000 Active 13 DOM
3. 2026-06-16
   days on market $385,000 Active 12 DOM
4. 2026-06-15
   days on market $385,000 Active 11 DOM
5. 2026-06-14
   days on market $385,000 Active 9 DOM
6. 2026-06-13
   days on market $385,000 Active 8 DOM
7. 2026-06-10
   days on market $385,000 Active 6 DOM
8. 2026-06-09
   days on market $385,000 Active 5 DOM
9. 2026-06-08
   days on market $385,000 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $385,000 Active 3 DOM

ⓘ 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: $10,738 · $895/mo
• Projected year-2 tax: $10,738 · $895/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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% 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: $66,564
• − Mortgage interest: −$21,566
• − Property taxes: −$10,738
• − Insurance: −$1,925
• − Repairs & maintenance: −$5,325
• − Management: −$5,325
• − Depreciation: −$11,200
• Taxable income: $10,485
• Est. tax owed @ 24.0%: −$2,516
• After-tax cash flow: $13,178/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: Newburgh City School District
• NCES district ID: 3620700
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 48% ▲ 10.00%
• Median HH income: $56,387
• Composite: 35.46/100
• National rank: #4927
• State rank: #500 of 590 in NY

Livability — Newburgh

• Score: 62/100
• State rank: #878
• US rank: #17021

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newburgh, NY
• County: Orange County · 267,004 people
• City population: 55,152
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 55,152
• Household income: $85,697
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2412.0

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 39% White 36% Black 20% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 10% Dominican 2%
• Common ancestry: Romanian 2% Hispanic 1% Lithuanian 1%
• Foreign-born: 18% · Canada, Dominican Republic
• Languages at home: 64% English-only · Spanish 30% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.93%
• Current HPI: 304.1046
• Rent YoY: ▲ 0.63%
• 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

+1227.6% since first listed

23 events — show timeline

• 2026-06-04 Listed $385,000 OneKey® MLS as Distributed by MLS Grid
• 2025-01-29 Rental Removed $2,250 ONEKEY
• 2024-11-26 Listed for Rent $2,250 ONEKEY
• 2024-11-26 Rental Removed $2,250 ONEKEY
• 2024-10-10 Listed for Rent $2,250 ONEKEY
• 2024-01-03 Rental Removed $2,500 ONEKEY
• 2023-11-01 Listed for Rent $2,500 ONEKEY
• 2017-09-21 Sold (Public Records) $15,000 Public Records
• 2017-09-15 Sold (MLS) $15,000 OneKey® MLS as Distributed by MLS Grid
• 2017-06-28 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2017-06-24 Listed $25,000 OneKey® MLS as Distributed by MLS Grid
• 2017-03-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-04-01 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2015-07-29 Price Changed $25,000 OneKey® MLS as Distributed by MLS Grid
• 2015-07-29 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2015-04-10 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2015-04-06 Listed $30,000 OneKey® MLS as Distributed by MLS Grid
• 2015-03-20 Delisted — HGMLS
• 2014-11-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-04-05 Listed — HGMLS
• 2013-11-25 Listed $29,000 OneKey® MLS as Distributed by MLS Grid
• 2012-11-09 Delisted — HGMLS
• 2011-05-09 Listed — HGMLS

Property tax history

+19.3%/yr

Latest (2025): $10,738 · +1.3% YoY. Source: county tax records.