637 Violet Ave · Haviland, NY 12538

$399,000

3 bd · 2.0 ba · 1,872 sqft · MultiFamily · 55 Days on market

Built 1970 Good condition 8,276 sqft lot $213/sqft · 43% below area Est $703k · 43% under ↓ 7% 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Schools +4.7/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• 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

Unlock the potential of this highly visible mixed-use opportunity at 637 Violet Avenue, Hyde Park, NY 12538, perfectly positioned along a well-traveled corridor with outstanding exposure for your business and comfortable living all in one location. The front commercial space offers endless possibilities with eye-catching storefront presence, newly finished epoxy-coated floors, and flexible layout options ideal for a professional office, real estate agency, boutique retail shop, art studio, wellness space, salon, or storage-based operation. With ample parking in both the front and rear, this property is especially attractive for businesses requiring multiple vehicles such as transportation s

Key facts

• Ample parking
• Modern kitchen
• Spacious living room

Tags

• MIXED-USE OPPORTUNITY
• FRONT COMMERCIAL SPACE
• AMPLE PARKING
• UPDATED RESIDENTIAL APARTMENT
• MODERN KITCHEN
• SPACIOUS LIVING ROOM

Property features AI

Exterior

• Parking: Off-street parking and parking lot space for 8 vehicles
• Utilities: Electric service by Central Hudson; Septic tank sewer; Electricity connected
• Home design: Duplex
• Construction: Partial, unfinished basement
• Exterior features: Not waterfront

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Propane heating; Other heating; No central cooling
• Interior features: Other interior features

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $399k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $399k).
• Recommended offer: $387k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.2% in Haviland — 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 65/100 on livability (#712 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, employment A-; Watch: cost of living C-, amenities F, commute F.
• Hyde Park Central School District (rural): math 43% / reading 62% proficiency, ranked #316 of 590 in NY (top 54%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 98 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 620 units permitted in Dutchess County in 2024 (242 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 $12k 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 55 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.

Recommended offer $387,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (median comp): $703,127
• List price: $399,000
• Delta: -43.25%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
685 Violet Ave	0.24mi	4/2.0 (+1)	1,704 (-9%)	19mo	$325,000	$191	53

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: -8.6%
• Equity multiple: 0.69×
• Total profit: $-35,128
• Equity at exit: $59,492

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $7,603
• Equity at exit: $34,498

Cash invested: $111,720 (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 12538

• Home prices YoY: -34.8%
• Active inventory: 98
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $4,076 medium
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$856
• Net cashflow: $463

Break-even live

Break-even rent $3,490

Max offer price $399,000

Occupancy floor 84%

Sensitivity live

Price	-10% $738	-5% $601	+0% $463	+5% $325	+10% $187
Rent	-10% $141	-5% $302	+0% $463	+5% $624	+10% $785
Rate	-1.0pp $664	-0.5pp $564	base $463	+0.5pp $359	+1.0pp $254

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,076
Total (2 units)			$4,076

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
195 Pinebrook Dr Hyde Park, NY	2.0	2.5	1381	$2,950	$2.14	45d	1	0.47mi

Listing history 17 events

1. 2026-06-21
   days on market $399,000 Active 55 DOM
2. 2026-06-18
   days on market $399,000 Active 52 DOM
3. 2026-06-17
   days on market $399,000 Active 51 DOM
4. 2026-06-16
   days on market $399,000 Active 50 DOM
5. 2026-06-15
   days on market $399,000 Active 49 DOM
6. 2026-06-14
   days on market $399,000 Active 47 DOM
7. 2026-06-10
   days on market $399,000 Active 44 DOM
8. 2026-06-09
   days on market $399,000 Active 43 DOM
9. 2026-06-08
   days on market $399,000 Active 42 DOM
10. 2026-06-07
    days on market $399,000 Active 41 DOM
11. 2026-06-03
    days on market $399,000 Active 37 DOM
12. 2026-06-02
    pricedays on market $399,000 Active 36 DOM
13. 2026-06-01
    days on market $425,000 Active 35 DOM
14. 2026-05-31
    days on market $425,000 Active 34 DOM
15. 2026-05-30
    days on market $425,000 Active 33 DOM
16. 2026-05-14
    price $425,000 1284-char remark
17. 2026-04-27
    listed $429,000 Active 1284-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,912
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,913
• − Management: −$3,913
• − Depreciation: −$11,607
• Taxable loss: −$851
• Est. tax savings @ 24.0%: +$204
• After-tax cash flow: $5,756/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 · 13 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with recent updates, making it a solid investment opportunity. The front commercial space offers endless possibilities for businesses, and the living areas are well-maintained.

Value-add opportunities

• Both landscaping — improve curb appeal and attract tenants
• Both fence — secure property and enhance curb appeal
• Both landscaping — improve curb appeal and attract tenants

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improve curb appeal and attract tenants ↑
• Both fence — secure property and enhance curb appeal ↑
• Both landscaping — improve curb appeal and attract tenants ↑

ⓘ 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: Hyde Park Central School District
• NCES district ID: 3615180
• Math proficiency: 43% ▼ -3.00%
• Reading proficiency: 62% ▲ 15.00%
• Median HH income: $68,932
• Composite: 46.59/100
• National rank: #2421
• State rank: #316 of 590 in NY

Livability — Haviland

• Score: 65/100
• State rank: #712
• US rank: #13550

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Haviland, NY
• Population (ZIP): 14,104

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: Predominantly White (77%)
• Race & ethnicity: White 77% Black 9% Hispanic / Latino 6% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 4% Italian 4% Lithuanian 3%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 91% English-only · Spanish 4% Korean 1% Russian/Polish/Slavic 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: ▼ -145.47%
• Current HPI: 272.998
• 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

-7.0% since first listed

3 events — show timeline

• 2026-06-02 Price Changed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-14 Price Changed $425,000 OneKey® MLS as Distributed by MLS Grid
• 2026-04-27 Listed $429,000 OneKey® MLS as Distributed by MLS Grid