91 Bridge St #93 · Catskill, NY 12414

$539,000

54 bd · 36.0 ba · 6,112 sqft · MultiFamily public records · 28 Days on market

Built 1930 6,112 sqft lot $88/sqft · 61% below area

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• 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 (5+ Unit). Listing-text estimate: 6 units. confirmed

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

6 Unit Diamond in the rough investment opportunity. This is a rehab project with earning power potential of 100,000/yr. Needs approx 200,000 in repairs including roof. Being sold as-is with a dilapidated 4 car garage that can be converted into ADU/Workshop/Studio, off street parking, full basement/solid foundation, heat and hot water included. 3 of 6 units are rented. 3 are vacant. We are not selling the cap rate. Steps to Main St and waterfront parks. 1/2 mile to Rip Van Winkle Bridge. This is not for the novice investor. Being sold as-is, no inspection contingencies.

Key facts

• Waterfront parks
• Steps to main st
• Off street parking

Tags

• OFF STREET PARKING
• FULL BASEMENT
• SOLID FOUNDATION
• WATERFRONT PARKS
• STEPS TO MAIN ST

What this means for you Summary

Snapshot

• This is a 6 × 9-bed/6.0-bath units multifamily listed at $539k.

Deal economics

• At list price, monthly cash flow is $7k ($90k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $539k).
• Recommended offer: $531k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.9% 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: schools C-, amenities F, commute 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.
• Market conditions: 105 active listings in the ZIP; 97 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• At $13,805/mo this rent would consume 227% of the median local household income ($73k/yr) (locally 318% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $58k of equity ($4k loan paydown + $54k 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 $151k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$93k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($531k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $435k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $530,915 (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 1930 — 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. 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.
6. 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.
7. 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: 2.56% ✓
• Cap rate: 22.90%
• Cash-on-cash: 59.32%
• DSCR: 3.64
• GRM: 3.3

CMA / ARV

• ARV (median comp): $1,382,433
• List price: $539,000
• Delta: -61.01%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 71.6%
• Equity multiple: 6.09×
• Total profit: $768,742
• Equity at exit: $485,574

10-year hold

• IRR: 65.4%
• Equity multiple: 13.52×
• Total profit: $1,890,235
• Equity at exit: $1,047,158

Cash invested: $150,920 (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: 105
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $13,805 medium
• Mortgage (P&I): −$2,827
• Tax from tax record: −$394 /mo · $4,734/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,899
• Net cashflow: $7,460

Break-even live

Break-even rent $4,362

Max offer price $539,000

Occupancy floor 41%

Sensitivity live

Price	-10% $7,765	-5% $7,613	+0% $7,460	+5% $7,308	+10% $7,155
Rent	-10% $6,370	-5% $6,915	+0% $7,460	+5% $8,006	+10% $8,551
Rate	-1.0pp $7,732	-0.5pp $7,597	base $7,460	+0.5pp $7,321	+1.0pp $7,179

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

Units	Beds	Baths	Est. rent
▸ 6× units	9	6	$13,806
Total (6 units)			$13,805

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: $134,750
• Closing costs: $16,170
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-01
   listed $539,000 Active 575-char remark

   Show marketing remark (575 chars)

   6 Unit Diamond in the rough investment opportunity. This is a rehab project with earning power potential of 100,000/yr. Needs approx 200,000 in repairs including roof. Being sold as-is with a dilapidated 4 car garage that can be converted into ADU/Workshop/Studio, off street parking, full basement/solid foundation, heat and hot water included. 3 of 6 units are rented. 3 are vacant. We are not selling the cap rate. Steps to Main St and waterfront parks. 1/2 mile to Rip Van Winkle Bridge. This is not for the novice investor. Being sold as-is, no inspection contingencies.

2. 2022-09-23
   soldstatus $435,000
3. 1998-09-28
   soldstatus $60,000
4. 1993-10-27
   soldstatus $140,000

ⓘ 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: $4,734 · $394/mo
• Projected year-2 tax: $6,921 · $577/mo
• Expected delta: +$2,188/yr (+$182/mo · 46.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 27% 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: $165,660
• − Mortgage interest: −$30,192
• − Property taxes: −$4,734
• − Insurance: −$2,695
• − Repairs & maintenance: −$13,253
• − Management: −$13,253
• − Depreciation: −$15,680
• Taxable income: $85,853
• Est. tax owed @ 24.0%: −$20,605
• After-tax cash flow: $68,919/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

+285.0% since first listed

4 events — show timeline

• 2026-05-01 Listed $539,000 OneKey® MLS as Distributed by MLS Grid
• 2022-09-23 Sold (Public Records) $435,000 Public Records
• 1998-09-28 Sold (Public Records) $60,000 Public Records
• 1993-10-27 Sold (Public Records) $140,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $4,734 · +3.0% YoY. Source: county tax records.