343 Washington Ave · Kingston, NY 12401

$649,900

24 bd · 16.0 ba · 3,085 sqft · MultiFamily public records · 30 Days on market

Built 1900 3,500 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Schools +4.4/10.0
• Livability +4.1/5.0
• 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

Investment opportunity with this 4-family rental property consisting of 2 two-bedroom apartments and 2 one-bedroom apartments. Uptown Kingston is known for its rich history, vibrant culture, and community-oriented atmosphere. Residents will love the nearby parks, shops, and dining options, enhancing their living experience.

Key facts

• 3,500 sq ft lot
• Built 1900
• Listed 29 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electricity connected (Central Hudson); Natural gas connected; Public sewer; Water connected; Sewer connected
• Home design: Quadruplex
• Construction: Clapboard construction; Block foundation
• Exterior features: Clapboard exterior; Block foundation; Not waterfront

Interior

• Bedrooms: Two 1-bedroom units; Two 2-bedroom units
• Flooring: Vinyl flooring
• Bathrooms: Four full bathrooms
• Heating & cooling: Hot water heating; Natural gas heating; Other heating; No central cooling
• Interior features: Original details; Other

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/4.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $3k ($36k/yr) — positive. Per door: $755/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $650k).
• Recommended offer: $640k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 3.0% in Kingston — 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 82/100 on livability (#74 in NY, #1,143 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime C-.
• Kingston City School District (urban): math 44% / reading 59% proficiency, ranked #355 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: George Washington School (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 449 students, 52% FRL); J Watson Bailey Middle School (math 22% / reading 48%, grade F, #480 of 729 statewide, top 66%, 968 students, 53% FRL); Kingston High School (math 94% / reading 91%, grade A+, #153 of 1,100 statewide, top 14%, 1,856 students, 85% FRL) — zoned schools average 63% FRL vs 45% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.8%/yr); 225 active listings in the ZIP; 464 units permitted in Ulster County in 2024 (170 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Ulster County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $182k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($640k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $200k; list at $650k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $640,151 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.53% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.27%
• DSCR: 1.90
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.81% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 1.76×
• Total profit: $137,860
• Equity at exit: $96,902

10-year hold

• IRR: 29.5%
• Equity multiple: 4.29×
• Total profit: $598,339
• Equity at exit: $56,191

Cash invested: $181,972 (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 12401

• Rents YoY: 7.8%
• Active inventory: 225
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $9,966 medium
• Mortgage (P&I): −$3,408
• Tax from tax record: −$1,121 /mo · $13,446/yr
• Insurance: −$271
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,093
• Net cashflow: $3,018

Break-even live

Break-even rent $6,146

Max offer price $649,900

Occupancy floor 65%

Sensitivity live

Price	-10% $3,386	-5% $3,202	+0% $3,018	+5% $2,834	+10% $2,650
Rent	-10% $2,231	-5% $2,624	+0% $3,018	+5% $3,412	+10% $3,805
Rate	-1.0pp $3,345	-0.5pp $3,183	base $3,018	+0.5pp $2,850	+1.0pp $2,678

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	4	$9,968
Total (4 units)			$9,966

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: $162,475
• Closing costs: $19,497
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $649,900 Active 30 DOM
2. 2026-06-18
   days on market $649,900 Active 29 DOM
3. 2026-06-17
   days on market $649,900 Active 28 DOM
4. 2026-06-16
   days on market $649,900 Active 27 DOM
5. 2026-06-15
   days on market $649,900 Active 26 DOM
6. 2026-06-14
   days on market $649,900 Active 24 DOM
7. 2026-06-12
   days on market $649,900 Active 23 DOM
8. 2026-06-09
   days on market $649,900 Active 20 DOM
9. 2026-06-08
   days on market $649,900 Active 19 DOM
10. 2026-06-07
    days on market $649,900 Active 18 DOM
11. 2026-06-03
    days on market $649,900 Active 14 DOM
12. 2026-06-02
    days on market $649,900 Active 13 DOM
13. 2026-06-01
    days on market $649,900 Active 12 DOM
14. 2026-05-31
    days on market $649,900 Active 11 DOM
15. 2026-05-30
    days on market $649,900 Active 10 DOM
16. 2026-05-20
    listed $649,900 Active

    Show marketing remark (325 chars)

    Investment opportunity with this 4-family rental property consisting of 2 two-bedroom apartments and 2 one-bedroom apartments. Uptown Kingston is known for its rich history, vibrant culture, and community-oriented atmosphere. Residents will love the nearby parks, shops, and dining options, enhancing their living experience.

17. 2026-05-20
    listed $649,900 Active 325-char remark

    Show marketing remark (325 chars)

    Investment opportunity with this 4-family rental property consisting of 2 two-bedroom apartments and 2 one-bedroom apartments. Uptown Kingston is known for its rich history, vibrant culture, and community-oriented atmosphere. Residents will love the nearby parks, shops, and dining options, enhancing their living experience.

18. 2025-10-09
    historical $2,300
19. 2025-09-12
    historical
20. 2025-09-03
    listed $2,300
21. 2025-05-22
    price $650,000
22. 2025-05-20
    price $650,000
23. 2025-03-11
    listed $675,000 Active
24. 2025-03-11
    listed $675,000 Active
25. 2019-09-03
    listed $425,000
26. 2018-03-08
    soldstatus $200,000

ⓘ 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: $13,446 · $1,121/mo
• Projected year-2 tax: $13,446 · $1,121/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $119,592
• − Mortgage interest: −$36,405
• − Property taxes: −$13,446
• − Insurance: −$3,916
• − Repairs & maintenance: −$9,567
• − Management: −$9,567
• − Depreciation: −$18,906
• Taxable income: $27,784
• Est. tax owed @ 24.0%: −$6,668
• After-tax cash flow: $29,549/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: Kingston City School District
• NCES district ID: 3616290
• Math proficiency: 44% ▲ 1.00%
• Reading proficiency: 59% ▲ 20.00%
• Median HH income: $52,586
• Composite: 44.22/100
• National rank: #2849
• State rank: #355 of 590 in NY

Livability — Kingston

• Score: 82/100
• State rank: #74
• US rank: #1143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kingston, NY
• County: Ulster County · 56,183 people
• City population: 35,136
• Metro: Kingston, NY
• Population (ZIP): 35,136
• Household income: $69,305
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 2045.0

Population outlook (Ulster County) Hauer SSP2

• Today (2025): 175,887 people
• By 2030: 171,876 · -2.3%
• By 2040: 161,771 · -8.0%
• By 2050: 151,470 · -13.9%
• By 2075: 133,023 · -24.4%
• By 2100: 113,504 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 14% Black 11% Two or more races 10% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Ulster

• 2024 margin: D (+18.7) · D 59.3% · R 40.7%
• 2008→2024 swing: -4.9pp toward R · 2008: 23.6pp · 2024: 18.7pp
• All cycles: 2024: D+18.7 2020: D+20.9 2016: D+9.1 2012: D+21.9 2008: D+23.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -262.90%
• Current HPI: 369.1984
• Rent YoY: ▲ 7.81%
• Metro: Kingston, 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

+224.9% since first listed

11 events — show timeline

• 2026-05-20 Listed $649,900 HVCRMLS
• 2026-05-20 Listed $649,900 OneKey® MLS as Distributed by MLS Grid
• 2025-10-09 Rental Removed $2,300 ONEKEY
• 2025-09-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-09-03 Listed for Rent $2,300 ONEKEY
• 2025-05-22 Price Changed $650,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-20 Price Changed $650,000 HVCRMLS
• 2025-03-11 Listed $675,000 HVCRMLS
• 2025-03-11 Listed $675,000 OneKey® MLS as Distributed by MLS Grid
• 2019-09-03 Listed $425,000 HVCRMLS
• 2018-03-08 Sold (Public Records) $200,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $13,446 · +11.3% YoY. Source: county tax records.