56 Shipp St · Newburgh, NY 12550

$179,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 37 Days on market

Built 1920 0.32 ac lot $207/sqft · 28% below area Est $248k · 28% under

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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).

• ARV discount +15.0/15.0
• Cash flow +8.6/30.0
• 1% rule +5.7/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special | Double Lot | Endless Potential — 56 Shipp St, Newburgh, NY 12550 Here's your opportunity to transform a diamond in the rough into something truly special. Set on an oversized double lot spanning 0.32 acres, this vintage 1920 single-family home on a quiet, private street in Newburgh is ready for the visionary buyer willing to roll up their sleeves and bring it back to life. The property features 2 bedrooms, 1 bath, 7 rooms total, and a 1–2 car garage — all sitting on a large, level yard that offers tremendous outdoor space, room to expand, or potential for additional improvements. The generous lot size alone sets this property apart in today's market. Location checks every box: convenient to schools, shopping, and public transportation, yet tucked away on a tranquil street that offers the privacy and quiet that buyers crave. Whether you're a seasoned flipper, a buy-and-hold investor, or a homeowner looking to build equity through sweat equity, the bones are here. Property Highlights: Double lot | 0.32 acres | Large level yard 7-room layout | 2 bed / 1 bath | 1–2 car garage Built 1920 — full of old-world character and charm Quiet, private street Close to schools, shopping & public transportation Priced to reflect AS-IS condition The Bottom Line: The home does need work to be restored to its full glory — but the opportunity, the lot, and the location make this a deal worth a serious look. Bring your contractor and your vision. Sold AS-IS. Cash or renovation financing preferred. Do not miss this one.

Key facts

• Large level yard
• Close to schools
• Double lot

Tags

• DOUBLE LOT
• LARGE LEVEL YARD
• QUIET PRIVATE STREET
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-155 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (12.3% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $157k (12.3% below list) — sets the bar for cash-flow.

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; 384 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,746 units permitted in Orange County in 2024 (1,265 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,043 (12.3% 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 37 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.07% ✓
• Cap rate: 5.25%
• Cash-on-cash: -3.72%
• DSCR: 0.83
• GRM: 7.8

CMA / ARV

• ARV (median comp): $247,959
• List price: $179,000
• Delta: -27.81%
• 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
586 South St	0.11mi	3/1.5 (+1)	876 (+1%)	23mo	$139,900	$160	67
60 Grove St	0.40mi	2/1.0	992 (+15%)	2mo	$125,000	$126	55
5 Locust St	0.54mi	2/1.0	828 (-4%)	23mo	$199,900	$241	49
116 Dupont Ave	0.28mi	3/1.0 (+1)	960 (+11%)	21mo	$355,000	$370	46
58 Larter Ave	0.29mi	2/1.0	736 (-15%)	21mo	$160,000	$217	44
10 Gardner St	0.70mi	2/1.0	768 (-11%)	13mo	$280,000	$365	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 · 0.63% rent growth · sell at horizon

5-year hold

• IRR: -26.1%
• Equity multiple: 0.14×
• Total profit: $-43,059
• Equity at exit: $26,689

10-year hold

• IRR: -38.4%
• Equity multiple: -0.33×
• Total profit: $-66,485
• Equity at exit: $15,477

Cash invested: $50,120 (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: 384
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,914 high
• Mortgage (P&I): −$939
• Tax from tax record: −$654 /mo · $7,852/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-155

Break-even live

Break-even rent $2,111

Max offer price $157,043

Occupancy floor —

Sensitivity live

Price	-10% $-54	-5% $-105	+0% $-155	+5% $-206	+10% $-257
Rent	-10% $-306	-5% $-231	+0% $-155	+5% $-80	+10% $-4
Rate	-1.0pp $-65	-0.5pp $-110	base $-155	+0.5pp $-202	+1.0pp $-249

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 Arlington Pl Newburgh, NY	3.0	1.0	950	$2,300	$2.42	15d	1	0.41mi
20 Pierces Rd Unit 3 Newburgh, NY	2.0	1.5	1071	$1,900	$1.77	25d	1	0.57mi
57 Carpenter Ave Newburgh, NY	1.0	1.0	815	$1,575	$1.93	45d	1	0.98mi
5 Vineyard Ln Apt 113 Newburgh, NY	1.0	1.0	737	$2,250	$3.05	25d	1	0.98mi
5 Vineyard Ln Apt 104 Newburgh, NY	1.0	1.0	737	$2,250	$3.05	45d	1	0.98mi
268 Carpenter Ave Unit 1 Newburgh, NY	3.0	2.0	950	$2,600	$2.74	25d	1	0.99mi
3 Cedar St Unit 3L Newburgh, NY	1.0	1.5	900	$2,200	$2.44	45d	1	1.00mi
259 1st St Newburgh, NY	3.0	2.0	883	$2,000	$2.27	45d	1	1.01mi
217 3rd St Unit 3 Newburgh, NY	2.0	1.0	600	$1,600	$2.67	15d	1	1.03mi
33 Lutheran St Newburgh, NY	2.0	1.0	589	$1,600	$2.72	45d	1	1.05mi
177 W Parmenter St Unit 1 Newburgh, NY	2.0	1.0	1100	$1,700	$1.55	25d	1	1.10mi
41 Dubois St Unit 1 Newburgh, NY	1.0	1.0	1050	$1,175	$1.12	45d	1	1.14mi
42 Hasbrouck St Newburgh, NY	3.0	1.5	1008	$2,550	$2.53	45d	1	1.17mi
8 William St Unit 1 Newburgh, NY	1.0	1.0	800	$1,350	$1.69	15d	1	1.18mi
136 Johnston St Newburgh, NY	2.0	1.0	688	$1,900	$2.76	45d	1	1.20mi
28 Hasbrouck St Unit A Newburgh, NY	1.0	1.0	550	$1,500	$2.73	45d	1	1.20mi
52 S Miller St Newburgh, NY	3.0	1.0	889	$1,900	$2.14	45d	1	1.21mi
74 North St Apt 3 Newburgh, NY	1.0	1.0	700	$1,945	$2.78	45d	1	1.25mi
27 Clark St Newburgh, NY	3.0	1.0	785	$1,950	$2.48	45d	1	1.26mi
57 Lander St Unit B Newburgh, NY	2.0	1.5	1100	$1,900	$1.73	45d	1	1.29mi
51 Lander St Unit 1 Newburgh, NY	2.0	1.0	1000	$1,500	$1.50	25d	1	1.29mi
61 Stewart Ave Newburgh, NY	2.0	1.0	975	$2,295	$2.35	45d	1	1.30mi
6 1/2 Farrington St Unit 1 Newburgh, NY	1.0	1.0	915	$1,375	$1.50	45d	1	1.31mi
271 Liberty St Unit 1 Newburgh, NY	2.0	1.0	825	$2,000	$2.42	15d	1	1.32mi
362 Liberty St Unit 1 (92 Clinton) Newburgh, NY	1.0	1.0	800	$1,350	$1.69	45d	1	1.32mi
276 Temple Hill Rd #2215 Newburgh, NY	2.0	1.0	1026	$2,100	$2.05	25d	1	1.36mi
317 Grand St Unit 2-4 Newburgh, NY	1.0	1.0	1000	$1,520	$1.52	15d	1	1.38mi
167 Liberty St Newburgh, NY	2.0	1.0	900	$1,900	$2.11	45d	1	1.38mi
187 Renwick St Newburgh, NY	2.0	1.0	689	$1,400	$2.03	45d	1	1.38mi
96 Broadway Unit 2B Newburgh, NY	2.0	1.0	750	$1,750	$2.33	25d	1	1.41mi
101 Drake Dr Newburgh, NY	1.0	1.0	794	$2,100	$2.64	15d	1	1.42mi
52 Benkard Ave Newburgh, NY	2.0	1.0	625	$1,700	$2.72	45d	1	1.43mi
87 Broadway Unit 2 Newburgh, NY	2.0	1.0	800	$1,800	$2.25	25d	1	1.45mi
96 Carson Ave Unit 1 Newburgh, NY	1.0	1.0	1030	$1,450	$1.41	15d	1	1.48mi

Listing history 1 events

1. 2026-04-15
   listed $179,000 Active 1582-char remark

   Show marketing remark (1582 chars)

   Investor Special | Double Lot | Endless Potential — 56 Shipp St, Newburgh, NY 12550 Here's your opportunity to transform a diamond in the rough into something truly special. Set on an oversized double lot spanning 0.32 acres, this vintage 1920 single-family home on a quiet, private street in Newburgh is ready for the visionary buyer willing to roll up their sleeves and bring it back to life. The property features 2 bedrooms, 1 bath, 7 rooms total, and a 1–2 car garage — all sitting on a large, level yard that offers tremendous outdoor space, room to expand, or potential for additional improvements. The generous lot size alone sets this property apart in today's market. Location checks every box: convenient to schools, shopping, and public transportation, yet tucked away on a tranquil street that offers the privacy and quiet that buyers crave. Whether you're a seasoned flipper, a buy-and-hold investor, or a homeowner looking to build equity through sweat equity, the bones are here. Property Highlights: Double lot | 0.32 acres | Large level yard 7-room layout | 2 bed / 1 bath | 1–2 car garage Built 1920 — full of old-world character and charm Quiet, private street Close to schools, shopping & public transportation Priced to reflect AS-IS condition The Bottom Line: The home does need work to be restored to its full glory — but the opportunity, the lot, and the location make this a deal worth a serious look. Bring your contractor and your vision. Sold AS-IS. Cash or renovation financing preferred. Do not miss this one.

ⓘ 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: $7,852 · $654/mo
• Projected year-2 tax: $7,852 · $654/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 · 15 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: $22,973
• − Mortgage interest: −$10,027
• − Property taxes: −$7,852
• − Insurance: −$895
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$5,207
• Taxable loss: −$4,684
• Est. tax savings @ 24.0%: +$1,124
• After-tax cash flow: $-739/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

1 event — show timeline

• 2026-04-15 Listed $179,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2025): $7,852 · -2.3% YoY. Source: county tax records.