207 Cornwall Meadows Ln · Putnam Lake, NY 12563

$449,000

2 bd · 2.5 ba · 2,066 sqft · SingleFamily public records · 35 Days on market

Built 1988 1,742 sqft lot $217/sqft · 12% below area Est $508k · 12% under $635/mo HOA · 8% of rent

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +12.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

Key facts

• Private balcony
• New water heater
• Upgraded central a/c

Tags

• ELECTRIC FIREPLACE
• PRIVATE BALCONY
• FINISHED LOWER LEVEL
• PRIVATE PATIO
• NEW WATER HEATER
• UPGRADED CENTRAL A/C

Property features AI

Finance

• HOA & community: Monthly association fee ($635) covering pool service, snow removal, and trash; Community clubhouse, fitness center, playground, and pool

Exterior

• Parking: Assigned parking (2 total spaces)
• Utilities: Electricity connected (NYSEG); Public sewer; Water connected; Sewer connected
• Home design: Townhouse style single-family residence
• Construction: Frame construction; Vinyl siding
• Exterior features: Balcony; Near public transit; Near schools; Near shops; Private outdoor in-ground pool

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Eat-in kitchen; Entrance foyer; Walk-in closet(s); Washer/Dryer hookup
• Laundry & utility: Washer; Dryer; Washer/Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $449k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $449k).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 3.3% in Putnam Lake — 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 66/100 on livability (#654 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Carmel Central School District (suburban): math 46% / reading 63% proficiency, ranked #258 of 590 in NY (top 44%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Matthew Paterson Elementary School (math 47% / reading 62%, grade C, #908 of 2,108 statewide, top 46%, 488 students, 41% FRL); George Fischer Middle School (math 21% / reading 56%, grade F, #437 of 729 statewide, top 60%, 1,130 students, 38% FRL); Carmel High School (math 97% / reading 87%, grade A+, #171 of 1,100 statewide, top 18%, 1,365 students, 36% FRL) — zoned schools average 38% FRL vs 17% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 49 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 142 units permitted in Putnam County in 2024 (75 in 5+ unit buildings).

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.
• Putnam County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $126k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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 $200k; list at $449k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $435,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.78% ✓
• Cap rate: 12.30%
• Cash-on-cash: 21.46%
• DSCR: 1.95
• GRM: 4.7

CMA / ARV

• ARV (median comp): $508,066
• List price: $449,000
• Delta: -11.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Cornwall Meadows Ln #107	0.06mi	2/2.5	2,066 (0%)	2mo	$390,000	$189	96
215 Cornwall Meadows Ln #215	0.04mi	2/2.5	1,992 (-4%)	1mo	$400,000	$201	92
324 Cornwall Meadows Ln	0.06mi	2/2.5	2,058 (-0%)	7mo	$289,000	$140	91
421 Cornwall Meadows Ln	0.08mi	2/3.0	2,000 (-3%)	8mo	$430,000	$215	82
44 Meadowbrook Ct	0.53mi	3/2.5 (+1)	1,906 (-8%)	19mo	$525,000	$275	42
19 North St	0.58mi	3/1.0 (+1)	1,869 (-10%)	9mo	$396,000	$212	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.57×
• Total profit: $71,123
• Equity at exit: $66,947

10-year hold

• IRR: 23.0%
• Equity multiple: 2.98×
• Total profit: $249,189
• Equity at exit: $38,821

Cash invested: $125,720 (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 12563

• Home prices YoY: -12.7%
• Active inventory: 49
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $8,000 medium
• Mortgage (P&I): −$2,355
• Tax from tax record: −$896 /mo · $10,746/yr
• Insurance: −$187
• HOA: −$635
• Vacancy / Maint / Mgmt: −$1,680
• Net cashflow: $2,248

Break-even live

Break-even rent $5,155

Max offer price $449,000

Occupancy floor 67%

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Cushman Rd Patterson, NY	3.0	2.0	2286	$8,000	$3.50	11d	1	1.38mi

HOA detail

• Monthly dues: $635 · $7,620/yr

Listing history 34 events

1. 2026-06-05
   statusdays on market $449,000 Pending 35 DOM
2. 2026-06-03
   days on market $449,000 Active 34 DOM
3. 2026-06-02
   days on market $449,000 Active 33 DOM
4. 2026-06-01
   days on market $449,000 Active 32 DOM
5. 2026-05-31
   days on market $449,000 Active 31 DOM
6. 2026-05-30
   days on market $449,000 Active 30 DOM
7. 2026-04-30
   listed $449,000 Active 1205-char remark
8. 2025-11-23
   historical
9. 2025-09-03
   price $450,000
10. 2025-08-01
    price $475,000
11. 2025-06-05
    listed $495,000 Active
12. 2025-06-04
    price $495,000
13. 2025-05-22
    historical
14. 2015-11-25
    soldstatus $200,000
15. 2015-11-09
    soldstatus $200,000 Sold

    Show marketing remark (580 chars)

    Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

16. 2015-11-09
    price $200,000

    Show marketing remark (580 chars)

    Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

17. 2015-11-06
    soldstatus $200,000
18. 2015-09-28
    historical Pending

    Show marketing remark (580 chars)

    Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

19. 2015-09-25
    price $225,400

    Show marketing remark (580 chars)

    Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

20. 2015-07-25
    price $225,400

    Show marketing remark (580 chars)

    Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

21. 2015-06-08
    price $230,000

    Show marketing remark (580 chars)

    Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

22. 2015-06-06
    price $239,000

    Show marketing remark (580 chars)

    Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

23. 2015-06-05
    listed $250,000 Active

    Show marketing remark (580 chars)

    Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

24. 2015-06-05
    listed $225,400

    Show marketing remark (580 chars)

    Spacious 3-level Townhouse style home at Cornwall Meadows in Patterson, NY. Light and bright end unit. Private deck off the main floor living space with pond view, in addition to private patio area off the lower level. Master bedroom with en-suite private bath. Second bedroom, updated hall bath. The lower level has large family room and separate room for guests or your own private office. A bathroom is easily added to this level, with roughed in plumbing in place. Large storage closet. Newer mechanicals. Deduct $1,341 from taxes for NYS STAR exemption. Floor plan available.

25. 2014-09-30
    soldstatus $173,500
26. 2014-09-05
    price $173,500 Sold
27. 2014-09-05
    soldstatus $173,500 Sold
28. 2014-09-05
    soldstatus $173,500
29. 2014-06-12
    historical Pending
30. 2014-06-10
    price $199,900
31. 2014-03-23
    listed $199,900 Active
32. 2014-03-23
    listed $199,900
33. 1996-02-05
    soldstatus $153,900
34. 1995-11-03
    soldstatus $1,550,000

ⓘ 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: $10,746 · $896/mo
• Projected year-2 tax: $10,746 · $896/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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $96,000
• − Mortgage interest: −$25,151
• − Property taxes: −$10,746
• − Insurance: −$2,245
• − Repairs & maintenance: −$7,680
• − Management: −$7,680
• − HOA: −$7,620
• − Depreciation: −$13,062
• Taxable income: $21,816
• Est. tax owed @ 24.0%: −$5,236
• After-tax cash flow: $21,738/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: Carmel Central School District
• NCES district ID: 3606570
• Math proficiency: 46% ▼ -15.00%
• Reading proficiency: 63% ▲ 11.00%
• Median HH income: $87,665
• Composite: 50.05/100
• National rank: #1914
• State rank: #258 of 590 in NY

Livability — Putnam Lake

• Score: 66/100
• State rank: #654
• US rank: #12186

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,456

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 99,705 people
• By 2030: 99,650 · -0.1%
• By 2040: 98,641 · -1.1%
• By 2050: 96,348 · -3.4%
• By 2075: 94,412 · -5.3%
• By 2100: 88,728 · -11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 17% Black 9% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Cuban 1% Dominican 3%
• Common ancestry: Romanian 5% Portuguese 2% Slovak 1%
• Foreign-born: 14% · Canada, South Korea, Dominican Republic
• Languages at home: 79% English-only · Spanish 12% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Putnam

• 2024 margin: R (+13.7) · D 43.2% · R 56.8%
• 2008→2024 swing: -6.2pp toward R · 2008: -7.5pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+7.9 2016: R+17.8 2012: R+11.2 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.07%
• Current HPI: 247.1582
• 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

-71.0% since first listed

29 events — show timeline

• 2026-06-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-30 Listed $449,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-23 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-03 Price Changed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2025-08-01 Price Changed $475,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-05 Listed $495,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-04 Price Changed $495,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-22 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2015-11-25 Sold (Public Records) $200,000 Public Records
• 2015-11-09 Price Changed $200,000 HGMLS
• 2015-11-09 Sold (MLS) $200,000 HGMLS
• 2015-11-06 Sold (MLS) $200,000 OneKey® MLS as Distributed by MLS Grid
• 2015-09-28 Contingent — HGMLS
• 2015-09-25 Price Changed $225,400 HGMLS
• 2015-07-25 Price Changed $225,400 HGMLS
• 2015-06-08 Price Changed $230,000 HGMLS
• 2015-06-06 Price Changed $239,000 HGMLS
• 2015-06-05 Listed $250,000 HGMLS
• 2015-06-05 Listed $225,400 OneKey® MLS as Distributed by MLS Grid
• 2014-09-30 Sold (Public Records) $173,500 Public Records
• 2014-09-05 Sold (MLS) $173,500 HGMLS
• 2014-09-05 Price Changed $173,500 HGMLS
• 2014-09-05 Sold (MLS) $173,500 OneKey® MLS as Distributed by MLS Grid
• 2014-06-12 Contingent — HGMLS
• 2014-06-10 Price Changed $199,900 HGMLS
• 2014-03-23 Listed $199,900 HGMLS
• 2014-03-23 Listed $199,900 OneKey® MLS as Distributed by MLS Grid
• 1996-02-05 Sold (Public Records) $153,900 Public Records
• 1995-11-03 Sold (Public Records) $1,550,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $10,746 · +7.2% YoY. Source: county tax records.