328 Main St · Poughkeepsie, NY 12601

$775,000

None bd · None ba · 5,586 sqft · MultiFamily · 197 Days on market

Built 1835 Good condition 1,900 sqft lot $139/sqft · 18% below area Est $946k · 18% under ↓ 9% since listing

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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 +17.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +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

328 Main Street Poughkeepsie is beautifully restored 4-story mixed-use rowhouse located in Downtown Poughkeepsie, N.Y. The site was rebuilt from top to bottom in 2010/2011, with exterior facade restoration to its original look and interior restoration of hardwood floors with modern amenities like central heating/AC, video security system and kitchen appliances. Building features an occupied 1,900SF ground-floor commercial space with basement access and three occupied apartments. Each unit is inspected annually and updated as needed. Could be combined with sister building 330 Main Street as a discounted package.

Key facts

• Central heating
• Restored rowhouse
• Interior restoration

Tags

• RESTORED ROWHOUSE
• EXTERIOR FACADE RESTORATION
• INTERIOR RESTORATION
• HARDWOOD FLOORS
• CENTRAL HEATING
• VIDEO SECURITY SYSTEM

What this means for you Summary

Snapshot

• This is a multifamily listed at $775k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $632 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $758k (2.2% below list).
• Recommended offer: $682k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 2.9% in Poughkeepsie — 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 78/100 on livability (#165 in NY, #2,577 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing A-; Watch: employment D+, crime F.
• Poughkeepsie City School District (suburban): math 29% / reading 42% proficiency, ranked #559 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Poughkeepsie Middle School (math 8% / reading 37%, grade F, #650 of 729 statewide, top 90%, 877 students, 82% FRL); Poughkeepsie High School (math 59% / reading 67%, grade B-, #819 of 1,100 statewide, top 74%, 1,165 students, 74% FRL).
• Market conditions: 297 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $7,580/mo this rent would consume 143% of the median local household income ($64k/yr) (locally 18% 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 $5k of loan paydown is wiped out by about $23k of value loss. Plan a longer hold.
• Dutchess County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($682k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1835 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $682,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1835 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.98% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.50%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $946,327
• List price: $775,000
• Delta: -18.10%
• 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
11 Franklin St	0.59mi	8/4.0	5,520 (-1%)	9mo	$630,000	$114	63
33 Virginia Ave	0.50mi	4/4.0	5,055 (-10%)	5mo	$550,000	$109	57
47 S Hamilton St	0.24mi	—/—	4,976 (-11%)	21mo	$335,000	$67	53
89 S Cherry St	0.54mi	6/2.0	5,016 (-10%)	10mo	$455,000	$91	49
1 Morgan Ave	0.67mi	4/4.0	5,160 (-8%)	11mo	$550,000	$107	47
120 S Hamilton St	0.63mi	6/4.0	6,418 (+15%)	12mo	$525,000	$82	36

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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-85,194
• Equity at exit: $115,555

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-21,861
• Equity at exit: $67,008

Cash invested: $217,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 1 under contract
• Months of supply: 18.0 mo (6%/mo absorbed)
• Median asking: $735,000 ($133/sqft)
• Median days on market: 96 d
• This list price: 67% of active listings are priced below it
• ARV vs active asking: +27.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12601

• Active inventory: 297
• Price-to-rent: 34.1×

Monthly cashflow live

• Estimated rent: $7,580 high
• Mortgage (P&I): −$4,064
• Tax est. 1.5%: −$969 /mo · $11,625/yr
• Insurance: −$323
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,592
• Net cashflow: $632

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$7,580
Total (4 units)			$7,580

Break-even live

Break-even rent $6,780

Max offer price $775,000

Occupancy floor 87%

Sensitivity live

Price	-10% $1,168	-5% $900	+0% $632	+5% $365	+10% $97
Rent	-10% $34	-5% $333	+0% $632	+5% $932	+10% $1,231
Rate	-1.0pp $1,023	-0.5pp $829	base $632	+0.5pp $432	+1.0pp $227

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: $193,750
• Closing costs: $23,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
337 Main St Unit 2R Poughkeepsie, NY	1.0	1.0	973	$1,895	$1.95	3d	1	0.02mi
315 Main St Apt 3 Poughkeepsie, NY	1.0	1.0	650	$1,500	$2.31	139d	1	0.04mi
57 Cannon St Poughkeepsie, NY	2.0	1.0	871	$1,785	$2.05	0d	9	0.04mi
26 Academy St Unit 3 Poughkeepsie, NY	1.0	1.0	600	$1,600	$2.67	6d	1	0.07mi
24 Academy St Poughkeepsie, NY	1.0	1.0	600	$1,575	$2.62	6d	1	0.07mi
27 Academy St Apt 1 Poughkeepsie, NY	1.0	1.0	550	$1,650	$3.00	0d	1	0.09mi
296 Mill St Apt 2 Poughkeepsie, NY	1.0	1.0	650	$1,600	$2.46	6d	1	0.12mi
296 Mill St Apt 3 Poughkeepsie, NY	1.0	1.0	650	$1,600	$2.46	139d	1	0.12mi
15 S Hamilton St Poughkeepsie, NY	1.0–2.0	1.0	900	$1,750	$1.94	6d	4	0.13mi
205 Church St Poughkeepsie, NY	1.0	1.0	597	$2,221	$3.72	0d	4	0.14mi
37 Academy St Unit 306 Poughkeepsie, NY	1.0	1.0	773	$1,950	$2.52	6d	1	0.14mi
30 N Hamilton St Unit 1 Poughkeepsie, NY	1.0	1.0	585	$1,495	$2.56	139d	1	0.19mi
65 Academy St Apt 2 Poughkeepsie, NY	1.0	1.0	650	$1,500	$2.31	6d	1	0.20mi
98 Montgomery St Unit 1 Poughkeepsie, NY	1.0	1.0	600	$1,325	$2.21	139d	1	0.25mi
238 Church St #3 Poughkeepsie, NY	—	1.0	600	$1,450	$2.42	119d	1	0.26mi
80 Garden St Apt 3 Poughkeepsie, NY	1.0	1.0	700	$1,550	$2.21	6d	1	0.28mi
205 Union St #1 Poughkeepsie, NY	1.0	1.0	1000	$2,000	$2.00	6d	1	0.28mi
109 Montgomery St Unit 1C Poughkeepsie, NY	2.0	1.0	1000	$1,850	$1.85	139d	1	0.28mi
9 S Clinton St Unit 3 Poughkeepsie, NY	—	1.0	800	$1,600	$2.00	6d	1	0.31mi
93 Catharine St Unit 2 Poughkeepsie, NY	2.0	1.0	700	$1,800	$2.57	6d	1	0.32mi
185 Union St Unit 1 Poughkeepsie, NY	1.0	1.0	650	$1,600	$2.46	6d	1	0.32mi
219 Mill St Unit 1` Poughkeepsie, NY	2.0	1.0	625	$1,750	$2.80	6d	1	0.34mi
219 Mill St Unit 5 Poughkeepsie, NY	2.0	1.0	625	$1,725	$2.76	6d	1	0.34mi
54 S Bridge St Poughkeepsie, NY	2.0	1.0	700	$1,725	$2.46	109d	1	0.34mi
52 S Bridge St Unit 1st Floor Poughkeepsie, NY	2.0	1.0	834	$1,895	$2.27	139d	1	0.34mi
52 S Bridge St Unit 2nd Floor Poughkeepsie, NY	2.0	1.0	834	$1,895	$2.27	119d	1	0.34mi
113 Academy St Poughkeepsie, NY	2.0	1.0	1100	$2,150	$1.95	6d	1	0.37mi
163 Union St Unit 1 Poughkeepsie, NY	2.0	1.0	768	$2,150	$2.80	139d	1	0.38mi
38 Carroll St Unit 2 Poughkeepsie, NY	2.0	1.0	1000	$2,000	$2.00	139d	1	0.40mi
8 Mansion St Unit 2 Poughkeepsie, NY	1.0	1.0	600	$1,675	$2.79	119d	1	0.41mi
78 N Clinton St Apt 1 Poughkeepsie, NY	2.0	1.0	750	$2,000	$2.67	139d	1	0.43mi
2 Charles St #2 Poughkeepsie, NY	2.0	1.0	768	$1,800	$2.34	6d	1	0.43mi
5557 Carroll St Poughkeepsie, NY	2.0	1.0	518	$1,575	$3.04	0d	5	0.45mi
65 S Clinton St Unit B Poughkeepsie, NY	1.0	1.5	850	$1,600	$1.88	6d	1	0.48mi
53 S Clover St #1 Poughkeepsie, NY	2.0	1.0	948	$2,500	$2.64	109d	1	0.50mi
79 Verazzano Blvd Poughkeepsie, NY	1.0	1.0	895	$1,900	$2.12	139d	1	0.51mi
6 Eastman Ter Poughkeepsie, NY	2.0	1.0	1000	$1,750	$1.75	109d	1	0.51mi
8 Eastman Ter Unit 4 Poughkeepsie, NY	2.0	1.0	750	$1,850	$2.47	109d	1	0.52mi
20 S White St #2 Poughkeepsie, NY	2.0	1.0	778	$1,750	$2.25	139d	1	0.54mi
51 Gifford Ave #1 Poughkeepsie, NY	2.0	1.0	996	$2,200	$2.21	139d	1	0.55mi

Listing history 50 events

1. 2026-08-13
   days on market $775,000 Active 197 DOM
2. 2026-08-12
   days on market $775,000 Active 196 DOM
3. 2026-08-11
   days on market $775,000 Active 195 DOM
4. 2026-08-10
   days on market $775,000 Active 194 DOM
5. 2026-08-09
   days on market $775,000 Active 193 DOM
6. 2026-08-08
   days on market $775,000 Active 192 DOM
7. 2026-08-07
   days on market $775,000 Active 191 DOM
8. 2026-07-31
   days on market $775,000 Active 189 DOM
9. 2026-07-29
   days on market $775,000 Active 187 DOM
10. 2026-07-27
    days on market $775,000 Active 185 DOM
11. 2026-07-25
    days on market $775,000 Active 183 DOM
12. 2026-07-24
    days on market $775,000 Active 182 DOM
13. 2026-07-23
    days on market $775,000 Active 181 DOM
14. 2026-07-22
    days on market $775,000 Active 180 DOM
15. 2026-07-21
    days on market $775,000 Active 179 DOM
16. 2026-07-18
    days on market $775,000 Active 176 DOM
17. 2026-07-16
    days on market $775,000 Active 174 DOM
18. 2026-07-16
    days on market $775,000 Active 173 DOM
19. 2026-07-14
    days on market $775,000 Active 172 DOM
20. 2026-07-13
    days on market $775,000 Active 171 DOM
21. 2026-07-12
    days on market $775,000 Active 170 DOM
22. 2026-07-11
    days on market $775,000 Active 169 DOM
23. 2026-07-10
    days on market $775,000 Active 168 DOM
24. 2026-07-09
    days on market $775,000 Active 167 DOM
25. 2026-07-08
    days on market $775,000 Active 166 DOM
26. 2026-07-07
    days on market $775,000 Active 165 DOM
27. 2026-07-06
    days on market $775,000 Active 164 DOM
28. 2026-07-05
    days on market $775,000 Active 163 DOM
29. 2026-07-04
    days on market $775,000 Active 162 DOM
30. 2026-07-03
    days on market $775,000 Active 161 DOM
31. 2026-07-02
    days on market $775,000 Active 160 DOM
32. 2026-07-01
    days on market $775,000 Active 159 DOM
33. 2026-06-30
    days on market $775,000 Active 158 DOM
34. 2026-06-29
    days on market $775,000 Active 157 DOM
35. 2026-06-28
    days on market $775,000 Active 156 DOM
36. 2026-06-28
    days on market $775,000 Active 155 DOM
37. 2026-06-27
    days on market $775,000 Active 154 DOM
38. 2026-06-25
    days on market $775,000 Active 152 DOM
39. 2026-06-23
    days on market $775,000 Active 150 DOM
40. 2026-06-21
    pricedays on market $775,000 Active 149 DOM
41. 2026-06-18
    days on market $795,000 Active 146 DOM
42. 2026-06-17
    days on market $795,000 Active 145 DOM
43. 2026-06-16
    days on market $795,000 Active 144 DOM
44. 2026-06-15
    days on market $795,000 Active 143 DOM
45. 2026-06-14
    days on market $795,000 Active 141 DOM
46. 2026-06-10
    days on market $795,000 Active 138 DOM
47. 2026-06-09
    days on market $795,000 Active 137 DOM
48. 2026-06-08
    days on market $795,000 Active 136 DOM
49. 2026-06-07
    days on market $795,000 Active 135 DOM
50. 2026-06-05
    days on market $795,000 Active 132 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $90,960
• − Mortgage interest: −$43,412
• − Property taxes: −$11,625
• − Insurance: −$3,875
• − Repairs & maintenance: −$7,277
• − Management: −$7,277
• − Depreciation: −$22,545
• Taxable loss: −$5,051
• Est. tax savings @ 24.0%: +$1,212
• After-tax cash flow: $8,800/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.

Condition & rehab AI · 11 photos

Good 80/100 Cosmetic rehab Est. rehab $27,930–$83,790 screening

This 4-story mixed-use rowhouse in Downtown Poughkeepsie is in excellent condition with modern amenities and annual inspections, making it a solid investment opportunity.

Value-add opportunities

• Both landscaping improvements — enhances curb appeal and adds value ↑
• Both exterior paint touch-up — maintains original aesthetic ↑
• Both HVAC maintenance — ensures comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Schools (NCES district)

• District: Poughkeepsie City School District
• NCES district ID: 3623760
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 42% ▲ 12.00%
• Median HH income: $39,159
• Composite: 29.68/100
• National rank: #6459
• State rank: #559 of 590 in NY

B Composite livability gradescore 78/100

Livability — Poughkeepsie

• Score: 78/100
• State rank: #165
• US rank: #2577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poughkeepsie, NY
• County: Dutchess County · 291,768 people
• City population: 86,468
• Metro: Poughkeepsie-Newburgh-Middletown, NY
• Population (ZIP): 44,164
• Household income: $63,652
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 18% of renters

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Population outlook (Dutchess County) Hauer SSP2

• Today (2025): 291,768 people
• By 2030: 287,131 · -1.6%
• By 2040: 274,881 · -5.8%
• By 2050: 259,971 · -10.9%
• By 2075: 235,366 · -19.3%
• By 2100: 208,786 · -28.4%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Black 24% Hispanic / Latino 22% Two or more races 17% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, China
• Languages at home: 79% English-only · Spanish 15% Other Indo-European 1% Chinese 1%

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Political lean MEDSL · Dutchess

• 2024 margin: Lean D (+5.4) · D 52.7% · R 47.3%
• 2008→2024 swing: -3.2pp toward R · 2008: 8.6pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+9.6 2016: R+1.1 2012: D+6.6 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.62%
• Current HPI: 293.9789
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

-9.1% since first listed

2 events — show timeline

• 2026-03-11 Price Changed $795,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-20 Listed $875,000 OneKey® MLS as Distributed by MLS Grid