36 Houston St · Florida, NY 10921

$569,000

6 bd · 5.0 ba · 2,797 sqft · MultiFamily public records · 76 Days on market

Built 1963 0.57 ac lot

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Why this score? — see what drove the D 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 +11.2/30.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Calling ALL Investors!!! Please check this spacious and updated 2 family home nestled in the village of Florida NY. The first unit is offering 5 to 6 bedrooms and 3 full bathrooms (first floor and lower level) and the 2nd unit is offering 2 bedrooms with an office plus 2 full bathrooms. Both units are rented for less than year. The lease must be honored and the lease can be renewed by a new owner. The rents are $3000 and $2350 per month. All the bathrooms and the kitchens have been upgraded including the floorings and most of the rooms have been painted. Make the appointment now before this opportunity slip away!

Key facts

• Upgraded floorings
• Updated bathrooms
• Updated kitchens

Tags

• UPDATED BATHROOMS
• UPDATED KITCHENS
• UPGRADED FLOORINGS

Property features AI

Exterior

• Parking: Driveway; No carport
• Utilities: Electricity connected (Orange & Rockland); Natural gas connected; Public sewer
• Home design: Duplex
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Not waterfront

Interior

• Kitchen: Eat-in kitchen(s)
• Bedrooms: One 2-bedroom unit; One 4-bedroom unit
• Bathrooms: Five full bathrooms
• Heating & cooling: Central air conditioning; Baseboard heating
• Interior features: First-floor bedroom; First-floor full bathroom; Eat-in kitchen; Finished basement with walk-out access (see remarks)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $569k.

Deal economics

• At list price, monthly cash flow is $-217 ($-3k/yr) — negative. Per door: $-109/mo.
• To cash-flow at today's rent, offer at most $531k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $529k (7.0% below list).
• Recommended offer: $529k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.1% in Florida — 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 73/100 on livability (#304 in NY) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Florida Union Free School District (town): math 63% / reading 66% proficiency, ranked #162 of 590 in NY (top 28%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 39 active listings in the ZIP; 1,746 units permitted in Orange County in 2024 (1,265 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 $17k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($535k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 13y ago; this cycle's ask has dropped $30k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $84k; list at $569k implies a 581% gain — meaningful room to come down on a strong offer.

Recommended offer $529,200 (7.0% 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 76 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. 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: 0.93% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.9%
• Equity multiple: 0.34×
• Total profit: $-105,688
• Equity at exit: $84,840

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-108,380
• Equity at exit: $49,197

Cash invested: $159,320 (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 10921

• Home prices YoY: -4.9%
• Active inventory: 39
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $5,292 medium
• Mortgage (P&I): −$2,984
• Tax from tax record: −$1,177 /mo · $14,126/yr
• Insurance: −$237
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,111
• Net cashflow: $-217

Break-even live

Break-even rent $5,567

Max offer price $530,580

Occupancy floor 99%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$5,292
Total (2 units)			$5,292

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: $142,250
• Closing costs: $17,070
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-05-01
   status Pending
2. 2026-03-13
   status Active
3. 2026-01-23
   price $569,000
4. 2026-01-04
   listed $599,000 Active
5. 2025-10-26
   historical $2,400
6. 2025-09-09
   listed $2,400
7. 2024-08-24
   historical $2,500
8. 2024-07-30
   listed $2,500
9. 2014-09-16
   historical Withdrawn
10. 2014-08-14
    historical
11. 2014-08-05
    historical Withdrawn
12. 2014-08-05
    historical
13. 2014-04-21
    historical Pending
14. 2014-04-21
    historical Pending
15. 2014-04-05
    listed Active
16. 2014-04-05
    listed Active
17. 2013-08-13
    listed $184,900
18. 2013-08-13
    listed $184,900
19. 1984-05-30
    soldstatus $83,500

ⓘ 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: $14,126 · $1,177/mo
• Projected year-2 tax: $14,126 · $1,177/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $63,504
• − Mortgage interest: −$31,873
• − Property taxes: −$14,126
• − Insurance: −$2,845
• − Repairs & maintenance: −$5,080
• − Management: −$5,080
• − Depreciation: −$16,553
• Taxable loss: −$12,053
• Est. tax savings @ 24.0%: +$2,893
• After-tax cash flow: $283/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: Florida Union Free School District
• NCES district ID: 3625320
• Math proficiency: 63% ▼ -3.00%
• Reading proficiency: 66% ▲ 2.00%
• Median HH income: $78,934
• Composite: 57.57/100
• National rank: #1066
• State rank: #162 of 590 in NY

Livability — Florida

• Score: 73/100
• State rank: #304
• US rank: #5003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florida, NY
• City population: 4,358
• Population (ZIP): 4,358

Population outlook (Orange County) Hauer SSP2

• Today (2025): 379,830 people
• By 2030: 378,955 · -0.2%
• By 2040: 375,444 · -1.2%
• By 2050: 369,311 · -2.8%
• By 2075: 354,233 · -6.7%
• By 2100: 318,150 · -16.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 22% Two or more races 9% Native American 5% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 7% Puerto Rican 5% Dominican 3%
• Common ancestry: Romanian 5% Iranian 2% Italian 1%
• Foreign-born: 16% · Canada, China
• Languages at home: 73% English-only · Spanish 15% Other Indo-European 5% Chinese 3%

Political lean MEDSL · Orange

• 2024 margin: Lean R (+8.4) · D 45.8% · R 54.2%
• 2008→2024 swing: -12.5pp toward R · 2008: 4.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+0.2 2016: R+6.5 2012: D+5.2 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.22%
• Current HPI: 297.5238
• 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

+581.4% since first listed

19 events — show timeline

• 2026-05-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-03-13 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-01-23 Price Changed $569,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-04 Listed $599,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-26 Rental Removed $2,400 ONEKEY
• 2025-09-09 Listed for Rent $2,400 ONEKEY
• 2024-08-24 Rental Removed $2,500 ONEKEY
• 2024-07-30 Listed for Rent $2,500 ONEKEY
• 2014-09-16 Delisted — HGMLS
• 2014-08-14 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-08-05 Delisted — HGMLS
• 2014-08-05 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2014-04-21 Contingent — HGMLS
• 2014-04-21 Contingent — HGMLS
• 2014-04-05 Listed — HGMLS
• 2014-04-05 Listed — HGMLS
• 2013-08-13 Listed $184,900 OneKey® MLS as Distributed by MLS Grid
• 2013-08-13 Listed $184,900 OneKey® MLS as Distributed by MLS Grid
• 1984-05-30 Sold (Public Records) $83,500 Public Records

Property tax history

+0.9%/yr

Latest (2025): $14,126 · +0.8% YoY. Source: county tax records.