1206 Main St · Peekskill, NY 10566

$775,000

16 bd · 16.0 ba · 2,800 sqft · MultiFamily · 90 Days on market

Built 1933 6,058 sqft lot $277/sqft · 27% below area Est $1059k · 27% under

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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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

New to the market! Well maintained 4 family apartment building features some nice updates. Brand new roof in 2024 and New siding in 2022! Four one bedroom apartments each with 1 bath. Please note that the current rents are below market value. The owner of this property chose not to increase his rents because the owner wanted to keep his rents affordable for the community. One apartment features a private, cozy screened porch overlooking a landscaped, level yard. The exterior was updated but the Victorian style has remained. This is a terrific location because it has a lovely, private back yard yet it is so convenient to everything! Only 1.2 miles to the Peekskill train station. Wallgreens is across the street , Dunkin Donuts down the block, and around the corner a grocery store and of course all the lovely shops downtown. Peekskill is a terrific place to live especially if you don't want to have to have a car! You can get to the bus stop in a flash and the Metro-North Station is so close. You can take a scenic ride along the banks of the Hudson River and be in New York City in just 1 hour. Do you like to mosey around downtown? Peekskill is teeming with specialty shops, artist studios and a variety of culinary delights in one of its many super terrific restaurants! Peekskill offers great parks ( including a dog park ) with hiking and biking trails and has a town pool too! This is truly a wonderful house in a great location. Turn key operation! Please plan ahead if you'd like to visit as we must notify our tenants in advance. Expenses and survey available upon request.

Key facts

• Updated exterior
• Private back yard
• Grocery store nearby

Tags

• PRIVATE SCREENED PORCH
• LANDSCAPED LEVEL YARD
• UPDATED EXTERIOR
• PRIVATE BACK YARD
• GROCERY STORE NEARBY
• SPECIALTY SHOPS DOWNTOWN

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $775k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $331/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $775k).
• Recommended offer: $728k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.2% in Peekskill — 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 79/100 on livability (#132 in NY, #2,121 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, crime A-; Watch: schools C-, amenities F, cost of living F.
• Peekskill City School District (suburban): math 37% / reading 36% proficiency, ranked #670 of 755 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 117 active listings in the ZIP; solid renter incomes; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $8,864/mo this rent would consume 124% of the median local household income ($86k/yr) (locally 1507% 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.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($728k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $75k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $265k; list at $775k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• 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 $728,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.33%
• DSCR: 1.33
• GRM: 7.3

CMA / ARV

• ARV (median comp): $1,059,379
• List price: $775,000
• Delta: -26.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.12% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.70×
• Total profit: $-65,844
• Equity at exit: $115,555

10-year hold

• IRR: -3.5%
• Equity multiple: 0.80×
• Total profit: $-44,060
• 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 →

ZIP-level market 10566

• Home prices YoY: -23.9%
• Rents YoY: 0.1%
• Active inventory: 117
• Price-to-rent: 29.1×

Monthly cashflow live

• Estimated rent: $8,864 high
• Mortgage (P&I): −$4,064
• Tax from tax record: −$1,291 /mo · $15,488/yr
• Insurance: −$323
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,861
• Net cashflow: $1,325

Break-even live

Break-even rent $7,187

Max offer price $775,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,763	-5% $1,544	+0% $1,325	+5% $1,105	+10% $886
Rent	-10% $625	-5% $975	+0% $1,325	+5% $1,675	+10% $2,025
Rate	-1.0pp $1,715	-0.5pp $1,522	base $1,325	+0.5pp $1,124	+1.0pp $920

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$8,864
Total (4 units)			$8,864

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
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $775,000 Active 90 DOM
2. 2026-06-18
   days on market $775,000 Active 87 DOM
3. 2026-06-17
   days on market $775,000 Active 86 DOM
4. 2026-06-16
   days on market $775,000 Active 85 DOM
5. 2026-06-15
   days on market $775,000 Active 84 DOM
6. 2026-06-13
   days on market $775,000 Active 82 DOM
7. 2026-06-09
   days on market $775,000 Active 78 DOM
8. 2026-06-08
   days on market $775,000 Active 77 DOM
9. 2026-06-07
   days on market $775,000 Active 76 DOM
10. 2026-06-04
    days on market $775,000 Active 73 DOM
11. 2026-06-03
    days on market $775,000 Active 72 DOM
12. 2026-06-02
    days on market $775,000 Active 71 DOM
13. 2026-06-01
    days on market $775,000 Active 70 DOM
14. 2026-05-31
    days on market $775,000 Active 69 DOM
15. 2026-04-21
    price $829,999 1595-char remark

    Show marketing remark (1595 chars)

    New to the market! Well maintained 4 family apartment building features some nice updates. Brand new roof in 2024 and New siding in 2022! Four one bedroom apartments each with 1 bath. Please note that the current rents are below market value. The owner of this property chose not to increase his rents because the owner wanted to keep his rents affordable for the community. One apartment features a private, cozy screened porch overlooking a landscaped, level yard. The exterior was updated but the Victorian style has remained. This is a terrific location because it has a lovely, private back yard yet it is so convenient to everything! Only 1.2 miles to the Peekskill train station. Wallgreens is across the street , Dunkin Donuts down the block, and around the corner a grocery store and of course all the lovely shops downtown. Peekskill is a terrific place to live especially if you don't want to have to have a car! You can get to the bus stop in a flash and the Metro-North Station is so close. You can take a scenic ride along the banks of the Hudson River and be in New York City in just 1 hour. Do you like to mosey around downtown? Peekskill is teeming with specialty shops, artist studios and a variety of culinary delights in one of its many super terrific restaurants! Peekskill offers great parks ( including a dog park ) with hiking and biking trails and has a town pool too! This is truly a wonderful house in a great location. Turn key operation! Please plan ahead if you'd like to visit as we must notify our tenants in advance. Expenses and survey available upon request.

16. 2026-03-23
    listed $850,000 Active 1595-char remark

    Show marketing remark (1595 chars)

    New to the market! Well maintained 4 family apartment building features some nice updates. Brand new roof in 2024 and New siding in 2022! Four one bedroom apartments each with 1 bath. Please note that the current rents are below market value. The owner of this property chose not to increase his rents because the owner wanted to keep his rents affordable for the community. One apartment features a private, cozy screened porch overlooking a landscaped, level yard. The exterior was updated but the Victorian style has remained. This is a terrific location because it has a lovely, private back yard yet it is so convenient to everything! Only 1.2 miles to the Peekskill train station. Wallgreens is across the street , Dunkin Donuts down the block, and around the corner a grocery store and of course all the lovely shops downtown. Peekskill is a terrific place to live especially if you don't want to have to have a car! You can get to the bus stop in a flash and the Metro-North Station is so close. You can take a scenic ride along the banks of the Hudson River and be in New York City in just 1 hour. Do you like to mosey around downtown? Peekskill is teeming with specialty shops, artist studios and a variety of culinary delights in one of its many super terrific restaurants! Peekskill offers great parks ( including a dog park ) with hiking and biking trails and has a town pool too! This is truly a wonderful house in a great location. Turn key operation! Please plan ahead if you'd like to visit as we must notify our tenants in advance. Expenses and survey available upon request.

17. 2014-03-15
    price $265,000 252-char remark

    Show marketing remark (252 chars)

    Excellent investment with a potential 8% cap rate. Centrally located four unit multi-family with upgraded bathrooms. Close to stores, restaurants and Peekskill's art & music. Vacant units potential rent is $1000.00 ea. Tenants are month to month.

18. 2013-10-29
    soldstatus $265,000
19. 2013-10-23
    soldstatus $265,000 Sold 252-char remark

    Show marketing remark (252 chars)

    Excellent investment with a potential 8% cap rate. Centrally located four unit multi-family with upgraded bathrooms. Close to stores, restaurants and Peekskill's art & music. Vacant units potential rent is $1000.00 ea. Tenants are month to month.

20. 2013-10-23
    soldstatus $265,000

    Show marketing remark (252 chars)

    Excellent investment with a potential 8% cap rate. Centrally located four unit multi-family with upgraded bathrooms. Close to stores, restaurants and Peekskill's art & music. Vacant units potential rent is $1000.00 ea. Tenants are month to month.

21. 2013-08-02
    historical Pending 252-char remark

    Show marketing remark (252 chars)

    Excellent investment with a potential 8% cap rate. Centrally located four unit multi-family with upgraded bathrooms. Close to stores, restaurants and Peekskill's art & music. Vacant units potential rent is $1000.00 ea. Tenants are month to month.

22. 2013-08-02
    price $279,900 252-char remark

    Show marketing remark (252 chars)

    Excellent investment with a potential 8% cap rate. Centrally located four unit multi-family with upgraded bathrooms. Close to stores, restaurants and Peekskill's art & music. Vacant units potential rent is $1000.00 ea. Tenants are month to month.

23. 2013-06-12
    listed $279,900 Active 252-char remark

    Show marketing remark (252 chars)

    Excellent investment with a potential 8% cap rate. Centrally located four unit multi-family with upgraded bathrooms. Close to stores, restaurants and Peekskill's art & music. Vacant units potential rent is $1000.00 ea. Tenants are month to month.

24. 2013-06-12
    listed $279,900

    Show marketing remark (252 chars)

    Excellent investment with a potential 8% cap rate. Centrally located four unit multi-family with upgraded bathrooms. Close to stores, restaurants and Peekskill's art & music. Vacant units potential rent is $1000.00 ea. Tenants are month to month.

ⓘ 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: $15,488 · $1,291/mo
• Projected year-2 tax: $15,488 · $1,291/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 6/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $106,368
• − Mortgage interest: −$43,412
• − Property taxes: −$15,488
• − Insurance: −$3,875
• − Repairs & maintenance: −$8,509
• − Management: −$8,509
• − Depreciation: −$22,545
• Taxable income: $4,028
• Est. tax owed @ 24.0%: −$967
• After-tax cash flow: $14,930/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: Peekskill City School District
• NCES district ID: 3622650
• Math proficiency: 37% ▲ 4.00%
• Reading proficiency: 36% ▲ 4.00%
• Median HH income: $54,563
• Composite: 34.6/100
• National rank: #10089
• State rank: #670 of 755 in NY

Livability — Peekskill

• Score: 79/100
• State rank: #132
• US rank: #2121

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peekskill, NY
• County: Westchester County · 709,332 people
• City population: 25,625
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 25,625
• Household income: $85,954
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1507.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 46% White 32% Black 17% Two or more races 14% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 10% Cuban 3% Dominican 4%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 27% · Canada
• Languages at home: 57% English-only · Spanish 37% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.67%
• Current HPI: 307.944
• Rent YoY: ▲ 0.12%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

+196.5% since first listed

10 events — show timeline

• 2026-04-21 Price Changed $829,999 OneKey® MLS as Distributed by MLS Grid
• 2026-03-23 Listed $850,000 OneKey® MLS as Distributed by MLS Grid
• 2014-03-15 Price Changed $265,000 HGMLS
• 2013-10-29 Sold (Public Records) $265,000 Public Records
• 2013-10-23 Sold (MLS) $265,000 OneKey® MLS as Distributed by MLS Grid
• 2013-10-23 Sold (MLS) $265,000 HGMLS
• 2013-08-02 Contingent — HGMLS
• 2013-08-02 Price Changed $279,900 HGMLS
• 2013-06-12 Listed $279,900 HGMLS
• 2013-06-12 Listed $279,900 OneKey® MLS as Distributed by MLS Grid

Property tax history

+1.9%/yr

Latest (2025): $15,488 · +1.4% YoY. Source: county tax records.