177 Broad St · Catskill, NY 12414

$550,000

6 bd · 3.0 ba · 2,220 sqft · MultiFamily public records · 43 Days on market

Built 1880 3,485 sqft lot Est $678k · 19% 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 +15.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +4.6/10.0
• Schools +4.1/10.0
• 1% rule +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

EXCITING OPPORTUNITY - Multi- Family Turnkey Money Maker in the heart of Catskill Village: With all 3 units very recently renovated, this ideally located multi-unit property guarantees substantial income with the long-term leases already in place. Additionally, this prime Broad Street location offers easy access to the local shops and restaurants on Main Street, numerous Historical Sites, the Waterfront, and the overall vibrant community atmosphere that is Catskill Village. Don't pass on this opportunity to acquire an exceptional income producing property in one of Greene County's most desirable locations!

Key facts

• 3,485 sq ft lot
• Built 1880
• Listed 42 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected; Sewer connected
• Home design: Triplex
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Heating & cooling: Forced air heating; Other heating; No cooling
• Interior features: Partially finished basement; Other interior features

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive. Per door: $62/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $474k (13.9% below list).
• Recommended offer: $474k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.9% in Catskill — 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 69/100 on livability (#483 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime B+; Watch: amenities F, commute F, employment F.
• Catskill Central School District (town): math 45% / reading 51% proficiency, ranked #429 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Catskill Elementary School (math 47% / reading 47%, grade D-, #1,195 of 2,108 statewide, top 60%, 574 students, 41% FRL); Catskill Middle School (math 17% / reading 37%, grade F, #587 of 729 statewide, top 81%, 303 students, 45% FRL); Catskill Senior High School (math 87% / reading 87%, grade A, #311 of 1,100 statewide, top 30%, 400 students, 38% FRL) — zoned schools at 41% FRL track the district average.
• Market conditions: 104 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $59k of equity ($4k loan paydown + $55k appreciation (10.0% local appreciation)).
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $154k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$95k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $80k; list at $550k implies a 588% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $473,800 (13.9% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 14% 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.86% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• GRM: 9.7

CMA / ARV

• ARV (median comp): $678,494
• List price: $550,000
• Delta: -18.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40 Thompson St	0.19mi	5/— (-1)	2,154 (-3%)	6mo	$105,000	$49	76
11 - 15 Allen St	0.62mi	5/— (-1)	2,230 (+0%)	16mo	$315,000	$141	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 3.02×
• Total profit: $311,348
• Equity at exit: $495,484

10-year hold

• IRR: 22.3%
• Equity multiple: 6.89×
• Total profit: $907,369
• Equity at exit: $1,068,529

Cash invested: $154,000 (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 12414

• Home prices YoY: 11.9%
• Active inventory: 104
• Price-to-rent: 29.0×

Monthly cashflow live

• Estimated rent: $4,738 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$443 /mo · $5,316/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$995
• Net cashflow: $187

Break-even live

Break-even rent $4,502

Max offer price $550,000

Occupancy floor 91%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,737
Total (3 units)			$4,738

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $550,000 Active 43 DOM
2. 2026-06-18
   days on market $550,000 Active 42 DOM
3. 2026-06-17
   days on market $550,000 Active 41 DOM
4. 2026-06-16
   days on market $550,000 Active 40 DOM
5. 2026-06-15
   days on market $550,000 Active 39 DOM
6. 2026-06-14
   days on market $550,000 Active 37 DOM
7. 2026-06-12
   days on market $550,000 Active 36 DOM
8. 2026-06-09
   days on market $550,000 Active 33 DOM
9. 2026-06-08
   days on market $550,000 Active 32 DOM
10. 2026-06-07
    days on market $550,000 Active 31 DOM
11. 2026-06-02
    days on market $550,000 Active 26 DOM
12. 2026-06-01
    days on market $550,000 Active 25 DOM
13. 2026-05-31
    days on market $550,000 Active 24 DOM
14. 2026-05-30
    days on market $550,000 Active 23 DOM
15. 2026-05-07
    listed $550,000 Active 614-char remark

    Show marketing remark (614 chars)

    EXCITING OPPORTUNITY - Multi- Family Turnkey Money Maker in the heart of Catskill Village: With all 3 units very recently renovated, this ideally located multi-unit property guarantees substantial income with the long-term leases already in place. Additionally, this prime Broad Street location offers easy access to the local shops and restaurants on Main Street, numerous Historical Sites, the Waterfront, and the overall vibrant community atmosphere that is Catskill Village. Don't pass on this opportunity to acquire an exceptional income producing property in one of Greene County's most desirable locations!

16. 2026-05-07
    listed $550,000 Active 581-char remark

    Show marketing remark (614 chars)

    EXCITING OPPORTUNITY - Multi- Family Turnkey Money Maker in the heart of Catskill Village: With all 3 units very recently renovated, this ideally located multi-unit property guarantees substantial income with the long-term leases already in place. Additionally, this prime Broad Street location offers easy access to the local shops and restaurants on Main Street, numerous Historical Sites, the Waterfront, and the overall vibrant community atmosphere that is Catskill Village. Don't pass on this opportunity to acquire an exceptional income producing property in one of Greene County's most desirable locations!

17. 2025-09-27
    historical $1,475
18. 2025-09-16
    listed $1,475
19. 2014-01-10
    soldstatus $80,000
20. 2004-11-09
    soldstatus $52,500

ⓘ 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: $5,316 · $443/mo
• Projected year-2 tax: $7,306 · $609/mo
• Expected delta: +$1,989/yr (+$166/mo · 37.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,856
• − Mortgage interest: −$30,809
• − Property taxes: −$5,316
• − Insurance: −$2,750
• − Repairs & maintenance: −$4,548
• − Management: −$4,548
• − Depreciation: −$16,000
• Taxable loss: −$7,116
• Est. tax savings @ 24.0%: +$1,708
• After-tax cash flow: $3,947/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: Catskill Central School District
• NCES district ID: 3606720
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 51% ▲ 8.00%
• Median HH income: $44,960
• Composite: 40.63/100
• National rank: #3685
• State rank: #429 of 590 in NY

Livability — Catskill

• Score: 69/100
• State rank: #483
• US rank: #8498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Catskill, NY
• County: Greene County · 10,169 people
• City population: 10,169
• Metro: nan
• Population (ZIP): 10,169
• Household income: $73,036
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 318.0

Population outlook (Greene County) Hauer SSP2

• Today (2025): 44,963 people
• By 2030: 43,126 · -4.1%
• By 2040: 38,756 · -13.8%
• By 2050: 34,913 · -22.4%
• By 2075: 28,156 · -37.4%
• By 2100: 22,296 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Scotch-Irish 3% Iranian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, Mexico
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Greene

• 2024 margin: R (+17.0) · D 41.5% · R 58.5%
• 2008→2024 swing: -7.1pp toward R · 2008: -9.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+15.6 2016: R+27.4 2012: R+11.1 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 52.47%
• Current HPI: 494.3394
• Rent YoY: —
• Metro: nan
• 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

+947.6% since first listed

6 events — show timeline

• 2026-05-07 Listed $550,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-07 Listed $550,000 HVCRMLS
• 2025-09-27 Rental Removed $1,475 REDFIN
• 2025-09-16 Listed for Rent $1,475 REDFIN
• 2014-01-10 Sold (Public Records) $80,000 Public Records
• 2004-11-09 Sold (Public Records) $52,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $5,316 · +3.0% YoY. Source: county tax records.