142 Main St · Philmont, NY 12565

$440,000

6 bd · 4.0 ba · 2,840 sqft · MultiFamily public records · 119 Days on market

Built 2010 0.50 ac lot $155/sqft · at area comps Est $457k · at est.

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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
• DSCR +10.0/10.0
• ARV discount +9.2/15.0
• 1% rule +8.2/10.0
• Appreciation +4.6/10.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

142 Main Street, Philmont, NY 12565 Fully Rented 4-Unit Investment Opportunity Turn-key multi-family property in the heart of Philmont featuring four fully rented units with strong rental income and diverse layouts. Ideal for investors seeking immediate cash flow in a centrally located village setting. This building offers: Unit 1 (1st Floor): 2 Bedrooms, 1 Bath Approx. 800 sq ft. Unit 2 (2nd Floor): 2 Bedrooms, 1 Bath Approx. 800 sq ft. Unit 3 (Townhouse Style): Spanning first & second floors with private basement space and in-unit washer/dryer Approx. 900 sq ft. Unit 4 (2nd Floor Rear): 1 Bedroom, 1 Bath Approx. 500 sq ft. All units are currently leased, offering immediate income from day one. The mix of two-bedroom layouts and an efficient one-bedroom unit provides strong tenant appeal. Unit 3's multi-level design and private basement area add flexibility and value. Conveniently located near local shops, dining, and village amenities with easy access to major routes including the TSP. 15 minutes to Amtrak. A solid addition to any investment portfolio with established rental history and upside potential.

Key facts

• Immediate cash flow
• In-unit washer dryer
• Strong rental income

Tags

• FULLY RENTED UNITS
• STRONG RENTAL INCOME
• IMMEDIATE CASH FLOW
• CENTRALLY LOCATED VILLAGE
• PRIVATE BASEMENT SPACE
• IN-UNIT WASHER DRYER

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $440k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $451/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $440k).
• Recommended offer: $400k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#958 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living B; Watch: schools F, crime F, amenities F.
• Taconic Hills Central School District (rural): math 53% / reading 51% proficiency, ranked #335 of 590 in NY (top 57%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 12 active listings in the ZIP; 136 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.8%/yr); year-one equity from $3k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Columbia County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.8% appreciation + 3.0% rent growth), your $123k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 2 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 $349k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $400,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-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. 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?
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 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: 1.32% ✓
• Cap rate: 11.21%
• Cash-on-cash: 17.56%
• DSCR: 1.78
• GRM: 6.3

CMA / ARV

• ARV (median comp): $457,463
• List price: $440,000
• Delta: -3.82%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
41 Prospect St	0.28mi	6/2.5	2,664 (-6%)	6mo	$240,000	$90	65
35 Church St	0.37mi	7/2.0 (+1)	2,668 (-6%)	1mo	$330,000	$124	59

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

Projected returns pro-forma

-0.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.70×
• Total profit: $85,731
• Equity at exit: $110,604

10-year hold

• IRR: 20.7%
• Equity multiple: 3.13×
• Total profit: $262,324
• Equity at exit: $119,928

Cash invested: $123,200 (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 12565

• Home prices YoY: -0.2%
• Active inventory: 12
• Price-to-rent: 25.3×

Monthly cashflow live

• Estimated rent: $5,800 medium
• Mortgage (P&I): −$2,307
• Tax from tax record: −$289 /mo · $3,465/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,218
• Net cashflow: $1,803

Break-even live

Break-even rent $3,518

Max offer price $440,000

Occupancy floor 64%

Sensitivity live

Price	-10% $2,052	-5% $1,927	+0% $1,803	+5% $1,678	+10% $1,553
Rent	-10% $1,344	-5% $1,573	+0% $1,803	+5% $2,032	+10% $2,261
Rate	-1.0pp $2,024	-0.5pp $1,914	base $1,803	+0.5pp $1,689	+1.0pp $1,573

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,800
Total (4 units)			$5,800

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: $110,000
• Closing costs: $13,200
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $440,000 Active 119 DOM
2. 2026-06-18
   days on market $440,000 Active 118 DOM
3. 2026-06-17
   days on market $440,000 Active 117 DOM
4. 2026-06-16
   days on market $440,000 Active 116 DOM
5. 2026-06-15
   days on market $440,000 Active 115 DOM
6. 2026-06-14
   days on market $440,000 Active 113 DOM
7. 2026-06-12
   days on market $440,000 Active 112 DOM
8. 2026-06-09
   days on market $440,000 Active 109 DOM
9. 2026-06-08
   days on market $440,000 Active 108 DOM
10. 2026-06-07
    days on market $440,000 Active 107 DOM
11. 2026-06-07
    days on market $440,000 Active 106 DOM
12. 2026-06-04
    days on market $440,000 Active 103 DOM
13. 2026-06-02
    days on market $440,000 Active 102 DOM
14. 2026-06-01
    days on market $440,000 Active 101 DOM
15. 2026-05-31
    days on market $440,000 Active 100 DOM
16. 2026-05-31
    days on market $440,000 Active 99 DOM
17. 2026-02-20
    listed $440,000 Active 1139-char remark

    Show marketing remark (1161 chars)

    142 Main Street, Philmont, NY 12565 Fully Rented 4-Unit Investment Opportunity Turn-key multi-family property in the heart of Philmont featuring four fully rented units with strong rental income and diverse layouts. Ideal for investors seeking immediate cash flow in a centrally located village setting. This building offers: Unit 1 (1st Floor): 2 Bedrooms, 1 Bath Approx. 800 sq ft. Unit 2 (2nd Floor): 2 Bedrooms, 1 Bath Approx. 800 sq ft. Unit 3 (Townhouse Style): Spanning first & second floors with private basement space and in-unit washer/dryer Approx. 900 sq ft. Unit 4 (2nd Floor Rear): 1 Bedroom, 1 Bath Approx. 500 sq ft. All units are currently leased, offering immediate income from day one. The mix of two-bedroom layouts and an efficient one-bedroom unit provides strong tenant appeal. Unit 3's multi-level design and private basement area add flexibility and value. Conveniently located near local shops, dining, and village amenities with easy access to major routes including the TSP. 15 minutes to Amtrak. A solid addition to any investment portfolio with established rental history and upside potential.

18. 2026-02-20
    listed $440,000 Active 1161-char remark

    Show marketing remark (1161 chars)

    142 Main Street, Philmont, NY 12565 Fully Rented 4-Unit Investment Opportunity Turn-key multi-family property in the heart of Philmont featuring four fully rented units with strong rental income and diverse layouts. Ideal for investors seeking immediate cash flow in a centrally located village setting. This building offers: Unit 1 (1st Floor): 2 Bedrooms, 1 Bath Approx. 800 sq ft. Unit 2 (2nd Floor): 2 Bedrooms, 1 Bath Approx. 800 sq ft. Unit 3 (Townhouse Style): Spanning first & second floors with private basement space and in-unit washer/dryer Approx. 900 sq ft. Unit 4 (2nd Floor Rear): 1 Bedroom, 1 Bath Approx. 500 sq ft. All units are currently leased, offering immediate income from day one. The mix of two-bedroom layouts and an efficient one-bedroom unit provides strong tenant appeal. Unit 3's multi-level design and private basement area add flexibility and value. Conveniently located near local shops, dining, and village amenities with easy access to major routes including the TSP. 15 minutes to Amtrak. A solid addition to any investment portfolio with established rental history and upside potential.

19. 2022-02-07
    soldstatus $349,000
20. 2007-04-05
    soldstatus $30,000

ⓘ 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: $3,465 · $289/mo
• Projected year-2 tax: $5,450 · $454/mo
• Expected delta: +$1,986/yr (+$165/mo · 57.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $69,600
• − Mortgage interest: −$24,647
• − Property taxes: −$3,465
• − Insurance: −$2,200
• − Repairs & maintenance: −$5,568
• − Management: −$5,568
• − Depreciation: −$12,800
• Taxable income: $15,352
• Est. tax owed @ 24.0%: −$3,685
• After-tax cash flow: $17,946/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: Taconic Hills Central School District
• NCES district ID: 3628620
• Math proficiency: 53% ▲ 10.00%
• Reading proficiency: 51% ▲ 11.00%
• Median HH income: $57,329
• Composite: 45.16/100
• National rank: #2676
• State rank: #335 of 590 in NY

Livability — Philmont

• Score: 60/100
• State rank: #958
• US rank: #18780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Philmont, NY
• City population: 1,575
• Population (ZIP): 1,575

Population outlook (Columbia County) Hauer SSP2

• Today (2025): 58,662 people
• By 2030: 56,557 · -3.6%
• By 2040: 51,324 · -12.5%
• By 2050: 45,790 · -21.9%
• By 2075: 35,232 · -39.9%
• By 2100: 25,846 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 15% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Slovak 5% Iranian 4% Romanian 3%
• Foreign-born: 10% · Canada

Political lean MEDSL · Columbia

• 2024 margin: D (+14.7) · D 57.4% · R 42.6%
• 2008→2024 swing: +1.3pp toward D · 2008: 13.4pp · 2024: 14.7pp
• All cycles: 2024: D+14.7 2020: D+16.7 2016: D+1.4 2012: D+11.7 2008: D+13.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.79%
• Current HPI: 377.9813
• 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

+1366.7% since first listed

4 events — show timeline

• 2026-02-20 Listed $440,000 HVCRMLS
• 2026-02-20 Listed $440,000 Global MLS
• 2022-02-07 Sold (Public Records) $349,000 Public Records
• 2007-04-05 Sold (Public Records) $30,000 Public Records

Property tax history

-0.5%/yr

Latest (2025): $3,465 · -0.5% YoY. Source: county tax records.