60 Airport Rd · Accord, NY 12404

$630,000

3 bd · 1.5 ba · 2,304 sqft · SingleFamily public records · 42 Days on market

Built 1962 2.20 ac lot $273/sqft · 33% below area Est $942k · 33% under

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Why this score? — see what drove the F 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 +5.3/30.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.3/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

60 Airport Rd offers 2.2 private acres in Accord with a refined blend of modern updates and understated country design. The 4-bedroom, 2.5-bath layout includes a first-floor bedroom, clean lines, and a bright, intentional interior suited for both everyday living and weekend use. A partially finished lower level allows for media, fitness, or studio space. Outside, the land is open, usable, and private, complemented by a detached two-car garage with flexibility for storage or creative conversion. Positioned minutes from Minnewaska, Mohonk, and Inness, this is a well-located, turnkey property within two hours of NYC.

Key facts

• Private acres
• First-floor bedroom
• Usable land

Tags

• PRIVATE ACRES
• FIRST-FLOOR BEDROOM
• PARTIALLY FINISHED LOWER LEVEL
• DETACHED TWO-CAR GARAGE
• USABLE LAND
• MINUTES TO MINNEWASKA

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $630k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $385k (38.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $337k (46.6% below list).
• Recommended offer: $337k (46.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#638 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living B+; Watch: crime F, amenities F, commute F.
• Rondout Valley Central School District (rural): math 39% / reading 51% proficiency, ranked #447 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marbletown Elementary School (math 52% / reading 64%, grade B-, #831 of 2,108 statewide, top 39%, 257 students, 36% FRL); Rondout Valley Junior High School (math 27% / reading 42%, grade F, #483 of 729 statewide, top 68%, 243 students, 42% FRL); Rondout Valley High School (math 87% / reading 64%, grade A-, #623 of 1,100 statewide, top 57%, 569 students, 41% FRL).
• Market conditions: 41 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.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($611k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $222k; list at $630k implies a 184% gain — meaningful room to come down on a strong offer.

Recommended offer $336,727 (46.6% 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 42 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.53% ✗
• Cap rate: 3.65%
• Cash-on-cash: -9.43%
• DSCR: 0.58
• GRM: 15.6

CMA / ARV

• ARV (median comp): $942,052
• List price: $630,000
• Delta: -33.12%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -33.2%
• Equity multiple: -0.08×
• Total profit: $-190,504
• Equity at exit: $93,935

10-year hold

• IRR: -40.4%
• Equity multiple: -0.59×
• Total profit: $-280,123
• Equity at exit: $54,471

Cash invested: $176,400 (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 12404

• Home prices YoY: -11.9%
• Active inventory: 41
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $3,367 medium
• Mortgage (P&I): −$3,304
• Tax from tax record: −$480 /mo · $5,759/yr
• Insurance: −$262
• HOA: −$0
• Vacancy / Maint / Mgmt: −$707
• Net cashflow: $-1,386

Break-even live

Break-even rent $5,122

Max offer price $385,146

Occupancy floor —

Sensitivity live

Price	-10% $-1,029	-5% $-1,208	+0% $-1,386	+5% $-1,564	+10% $-1,743
Rent	-10% $-1,652	-5% $-1,519	+0% $-1,386	+5% $-1,253	+10% $-1,120
Rate	-1.0pp $-1,069	-0.5pp $-1,226	base $-1,386	+0.5pp $-1,549	+1.0pp $-1,715

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: $157,500
• Closing costs: $18,900
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-05
   historical Active Under Contract 621-char remark

   Show marketing remark (621 chars)

   60 Airport Rd offers 2.2 private acres in Accord with a refined blend of modern updates and understated country design. The 4-bedroom, 2.5-bath layout includes a first-floor bedroom, clean lines, and a bright, intentional interior suited for both everyday living and weekend use. A partially finished lower level allows for media, fitness, or studio space. Outside, the land is open, usable, and private, complemented by a detached two-car garage with flexibility for storage or creative conversion. Positioned minutes from Minnewaska, Mohonk, and Inness, this is a well-located, turnkey property within two hours of NYC.

2. 2026-04-16
   listed $630,000 Active 621-char remark

   Show marketing remark (621 chars)

   60 Airport Rd offers 2.2 private acres in Accord with a refined blend of modern updates and understated country design. The 4-bedroom, 2.5-bath layout includes a first-floor bedroom, clean lines, and a bright, intentional interior suited for both everyday living and weekend use. A partially finished lower level allows for media, fitness, or studio space. Outside, the land is open, usable, and private, complemented by a detached two-car garage with flexibility for storage or creative conversion. Positioned minutes from Minnewaska, Mohonk, and Inness, this is a well-located, turnkey property within two hours of NYC.

3. 2026-04-15
   listed $630,000 Active 621-char remark

   Show marketing remark (621 chars)

   60 Airport Rd offers 2.2 private acres in Accord with a refined blend of modern updates and understated country design. The 4-bedroom, 2.5-bath layout includes a first-floor bedroom, clean lines, and a bright, intentional interior suited for both everyday living and weekend use. A partially finished lower level allows for media, fitness, or studio space. Outside, the land is open, usable, and private, complemented by a detached two-car garage with flexibility for storage or creative conversion. Positioned minutes from Minnewaska, Mohonk, and Inness, this is a well-located, turnkey property within two hours of NYC.

4. 2019-12-22
   soldstatus $222,000
5. 2019-10-21
   listed $199,900
6. 2018-09-13
   listed $225,000
7. 1998-01-02
   soldstatus $95,000
8. 1997-04-23
   soldstatus $25,000

ⓘ 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: $5,759 · $480/mo
• Projected year-2 tax: $8,203 · $684/mo
• Expected delta: +$2,444/yr (+$204/mo · 42.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $40,407
• − Mortgage interest: −$35,290
• − Property taxes: −$5,759
• − Insurance: −$3,150
• − Repairs & maintenance: −$3,233
• − Management: −$3,233
• − Depreciation: −$18,327
• Taxable loss: −$28,584
• Est. tax savings @ 24.0%: +$6,860
• After-tax cash flow: $-9,773/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: Rondout Valley Central School District
• NCES district ID: 3624960
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 51% ▲ 5.00%
• Median HH income: $59,408
• Composite: 39.5/100
• National rank: #3949
• State rank: #447 of 590 in NY

Livability — Accord

• Score: 66/100
• State rank: #638
• US rank: #11891

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,046

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 (82%)
• Race & ethnicity: White 82% Two or more races 11% Hispanic / Latino 8%
• Hispanic origin (detail): Puerto Rican 5% Cuban 3%
• Common ancestry: Iranian 4% Lithuanian 3% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 4% Arabic 1% German/W. Germanic 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: ▼ -46.90%
• Current HPI: 345.6723
• 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

+2420.0% since first listed

8 events — show timeline

• 2026-05-05 Contingent — HVCRMLS
• 2026-04-16 Listed $630,000 HVCRMLS
• 2026-04-15 Listed $630,000 OneKey® MLS as Distributed by MLS Grid
• 2019-12-22 Sold (MLS) $222,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-21 Listed $199,900 OneKey® MLS as Distributed by MLS Grid
• 2018-09-13 Listed $225,000 HVCRMLS
• 1998-01-02 Sold (Public Records) $95,000 Public Records
• 1997-04-23 Sold (Public Records) $25,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $5,759 · +3.3% YoY. Source: county tax records.