328 Main St · Poughkeepsie, NY 12601

$795,000

None bd · None ba · 5,586 sqft · MultiFamily · 146 Days on market

Built 1835 Good condition 1,900 sqft lot $142/sqft · 22% below area Est $1021k · 22% 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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• 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 $795k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $497 ($6k/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 (4.6% below list).
• Recommended offer: $700k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 3.4% 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.
• Market conditions: Rents rising (+3.7%/yr); 189 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 620 units permitted in Dutchess County in 2024 (242 in 5+ unit buildings).
• At $7,583/mo this rent would consume 143% of the median local household income ($64k/yr) (locally 2891% 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 $24k 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 146 days — a 12% lower offer ($700k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $699,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 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: 0.95% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.68%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

• ARV (median comp): $1,021,299
• List price: $795,000
• Delta: -22.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 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%)	6mo	$630,000	$114	66
33 Virginia Ave	0.50mi	4/4.0	5,055 (-10%)	2mo	$550,000	$109	59
89 S Cherry St	0.54mi	6/2.0	5,016 (-10%)	7mo	$455,000	$91	52
1 Morgan Ave	0.67mi	4/4.0	5,160 (-8%)	8mo	$550,000	$107	49
120 S Hamilton St	0.63mi	6/4.0	6,418 (+15%)	9mo	$525,000	$82	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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-91,941
• Equity at exit: $118,537

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-17,471
• Equity at exit: $68,737

Cash invested: $222,600 (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 12601

• Rents YoY: 3.7%
• Active inventory: 189
• Price-to-rent: 34.9×

Monthly cashflow live

• Estimated rent: $7,583 high
• Mortgage (P&I): −$4,169
• Tax est. 1.5%: −$994 /mo · $11,925/yr
• Insurance: −$331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,592
• Net cashflow: $497

Break-even live

Break-even rent $6,955

Max offer price $795,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$7,584
Total (4 units)			$7,583

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
144 Mansion St #5 Poughkeepsie, NY	1.0	1.0	5269	$1,550	$0.29	44d	1	0.27mi
52 Parker Ave Unit 2 Poughkeepsie, NY	3.0	1.0	3900	$2,000	$0.51	21d	1	0.56mi

Listing history 17 events

1. 2026-06-18
   days on market $795,000 Active 146 DOM
2. 2026-06-17
   days on market $795,000 Active 145 DOM
3. 2026-06-16
   days on market $795,000 Active 144 DOM
4. 2026-06-15
   days on market $795,000 Active 143 DOM
5. 2026-06-14
   days on market $795,000 Active 141 DOM
6. 2026-06-10
   days on market $795,000 Active 138 DOM
7. 2026-06-09
   days on market $795,000 Active 137 DOM
8. 2026-06-08
   days on market $795,000 Active 136 DOM
9. 2026-06-07
   days on market $795,000 Active 135 DOM
10. 2026-06-05
    days on market $795,000 Active 132 DOM
11. 2026-06-03
    days on market $795,000 Active 131 DOM
12. 2026-06-02
    days on market $795,000 Active 130 DOM
13. 2026-06-01
    days on market $795,000 Active 129 DOM
14. 2026-05-31
    days on market $795,000 Active 128 DOM
15. 2026-05-30
    days on market $795,000 Active 127 DOM
16. 2026-03-11
    price $795,000 618-char remark

    Show marketing remark (618 chars)

    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.

17. 2026-01-20
    listed $875,000 Active 618-char remark

    Show marketing remark (618 chars)

    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.

ⓘ 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: $90,996
• − Mortgage interest: −$44,532
• − Property taxes: −$11,925
• − Insurance: −$3,975
• − Repairs & maintenance: −$7,280
• − Management: −$7,280
• − Depreciation: −$23,127
• Taxable loss: −$7,123
• Est. tax savings @ 24.0%: +$1,710
• After-tax cash flow: $7,668/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

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

Renovation cost estimate screening

Value-add ROI direction

• 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 ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

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 · 188,048 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: 2891.0

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%

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%

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: ▲ 3.67%
• 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

-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