Underwrite it before you tour it.
The same tools we use on every income property: first the Listing X-Ray, which shows what an advertised cap rate leaves out, then a full investment calculator with a deal meter to run your own numbers.
Brick mixed-use, the Rondout
What the listing sheet doesn't show you.
Advertised numbers often leave out the costs a new owner actually pays. Enter what the listing claims, and see the property the way an underwriter would.
| From advertised to actual | |
| Advertised net operating income | |
| Adjusted net operating income | |
| Near-term capital needs | |
| Effective price (asking + capital needs) | |
| Cap rate on effective price | |
| Price that delivers the advertised cap rate |
Adjustments are general assumptions for discussion, not an appraisal or tax advice. Actual taxes depend on the municipality's assessment and rates; confirm insurance with a quote and capital needs with an inspection.
Run the numbers on any income property.
Enter the rent, taxes and expenses. You'll see vacancy loss, net operating income, cap rate, debt service and cash flow. The example inputs describe a typical Kingston six-unit; replace them with the property you're looking at.
Market targets: cap rate 6.5%, cash-on-cash 8%, coverage 1.25x Adjust
Defaults reflect typical Hudson Valley small multifamily investor and lender benchmarks. Your criteria may differ — tap Adjust to set your own.
| Income | % GSI | |
| Gross scheduled income | 100% | |
| Less vacancy & credit loss | ||
| Effective gross income | ||
| Operating expenses | ||
| Property taxes | ||
| Insurance | ||
| Utilities | ||
| Trash, snow & grounds | ||
| Repairs & maintenance | ||
| Management | ||
| Capital reserves | ||
| Other | ||
| Total operating expenses | ||
| Net operating income | ||
| Financing & returns | ||
| Loan amount | ||
| Annual debt service | ||
| Cash flow before tax | ||
| Cash invested (down + closing) | ||
| Debt service coverage ratio | ||
| Price per unit | ||
| Gross rent multiplier | ||
| Break-even occupancy |
This calculator gives an estimate for discussion only. It is not an appraisal, a loan offer, or tax, legal or investment advice. Results depend entirely on the inputs; verify rents, leases, tax bills and expenses during due diligence. In the City of Kingston, units covered by rent stabilization (ETPA) are subject to rent guidelines that can limit increases.
The due diligence starts before the listing goes live.
Most listings show photos and a price. Every investment listing here comes with a dossier checked against source documents, so you can underwrite the deal before the first showing.
| Rents and income | Checked against leases and the rent ledger or bank deposits, not taken from the seller's summary. |
| Taxes | The actual county, town and school bills, with the assessed value and equalization rate. |
| Water and sewer | Twelve months of municipal bills, with any unpaid balance flagged. |
| Utilities | Which meters are owner-paid and which are tenant-paid, with twelve months of owner-paid bills. |
| Insurance | The current policy declarations page. |
| Zoning and what you can build | District, permitted uses and bulk limits, compared against the actual lot, with a link to the code section. |
| Rent stabilization | For Kingston buildings, whether units are covered and registered under the city's rent stabilization program. |
| Permits, violations and COs | Open permits, code violations and the legal unit count from the building department. |
| Flood and environmental | FEMA flood zone, and lead disclosure for buildings built before 1978. |
Each item is marked verified with a date, seller-provided, or pending. A dossier supports your due diligence; it does not replace your own inspection, attorney review or lender requirements.
A private conversation.
Every inquiry is answered personally by Gene Rios, usually the same business day.
- Office
- 175 Boices Lane
Kingston, NY 12401 - Office line
- 845-336-6100
- Cell
- 845-532-4099
- Fax
- 845-336-6107
- genem@generiosrealty.com