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21 Center Street
Highland Falls, NY

21 Center Street

$339,900
3 bd • 1 ba • 965 sf

This analysis was generated by artificial intelligence on 1/31/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$339,900

Price/Sq.Ft

$352

Year Built

1870

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Prime Location: The property is located in the heart of Highland Falls, offering a walkable lifestyle with easy access to the village amenities, including shops, restaurants, and essential services. • Proximity to West Point: The property is within walking distance of West Point Military Academy, making it highly desirable for military personnel, families, and those affiliated with the academy. It is a 5 minute drive to the gate. • Recent Renovations: The home was renovated in 2023, meaning that it has updated features and likely reduced maintenance costs for the new buyer, this includes ENERGY STAR qualified appliances and a tankless water heater. • First Floor Bedroom: Having a first floor bedroom is attractive for those who prefer to avoid stairs or have mobility issues. • Strong Rental Market: The area has a strong rental market, with a median rent of $2080 for a 3-bedroom home, making this property a good option for investors. • Convenient Commute: The property provides easy access to the Palisade Parkway and train lines to Garrison or Peekskill, facilitating commutes to the city.

The Bad

• High flood risk: The property has an EXTREME flood risk (9/10), requiring critical flood insurance, which will increase ownership costs and make it less attractive to risk-averse buyers. • Smaller Square Footage: At only 965 square feet, the property may feel cramped for some buyers, especially families needing more space. The small size might also impact resale value. • Limited Bathrooms: Only 1 full bathroom and a half bath for a 3 bedroom home may be inconvenient for some buyers. • Age of Property: Built in 1870, the property is quite old. Despite renovations in 2023, there may be hidden issues or maintenance requirements that come with an older home. • School Ratings: While Highland Falls Intermediate School has a 5/10 rating, James I O Neill High School has a 6/10 rating. The Fort Montgomery Elementary School has a null rating. These may be concerning to buyers with children.

The Ugly

• Extreme Flood Risk: The property's EXTREME flood risk (9/10) poses a significant threat, requiring costly flood insurance and potentially leading to property damage. The FEMA Zone X_UNSHADED classification indicates a high likelihood of flooding, which is a major concern for long-term ownership. • High Price Increase: The property was listed for $339,900 on 2025-01-07, a 61.9% increase over its last sale price of $210,000 in 2022. This substantial price increase may not be justified by market trends and could lead to overpayment. • Historical Price Volatility: The property's price history shows dramatic fluctuations, including a -73.1% decrease in 2015 and a 183.9% increase in 2021. This instability indicates a high-risk investment and potential for loss. • Limited Data on Renovations: While the listing mentions renovations in 2023, there are no specific details on the extent or quality of the updates. This lack of transparency can be concerning for potential buyers and could lead to unexpected costs. • Potential for Hidden Issues: As an 1870 build, there could be potential structural or systemic issues that are not readily visible and may require significant repairs down the line. This adds to the overall risk of ownership.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers seeking a walkable village lifestyle: The property's location allows easy access to local amenities, schools, parks, and the West Point Military Academy. • Investors looking for rental income: Given the median rent for a 3-bedroom home is $2080 and that this property was recently renovated, the property can be a solid rental investment, especially with the West Point market. • Buyers who appreciate historic homes with modern updates: The home combines the charm of a 1870 build with recent 2023 renovations, including energy-efficient appliances and a tankless water heater. • Military personnel or families seeking proximity to West Point: The property is within walking distance and a 5-minute drive to West Point, making it ideal for those affiliated with the academy. • Individuals looking for an easy commute: The property offers convenient access to Palisade Parkway and train lines to NYC, appealing to those who need to travel for work.

Not For

• Buyers seeking large square footage: At 965 sqft, the property is smaller than some single family homes, and may not meet the needs of those requiring more space. • Buyers averse to high flood risk: The EXTREME flood risk (9/10) might deter those seeking properties in low-risk zones. Flood insurance is critical for this property. • Buyers who prefer a quiet or remote location: The proximity to West Point and the village means potential noise from military activities and community events. • Buyers seeking a modern home without historic elements: While renovated, the property retains its original 1870s architecture and may not appeal to those seeking a newer build. • Buyers on a very tight budget: With a price of $339,900 and additional insurance costs, the property may not be suitable for those with limited financial flexibility.
Demographics
Area Median Income

$83,571

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Risk Assessment

Climate Risks

floodEXTREME

FEMA Zone: X_UNSHADED

Insurance: Required

heatMAJOR

8 extreme heat days per year

98th percentile: 100°F

fireMODERATE

Insurance: Recommended

windMODERATE

Insurance: Recommended

airMODERATE

2 bad air quality days per year

Risk Analysis

• High flood risk: The property's EXTREME flood risk (9/10) requires critical flood insurance, which will add significant annual expense. The FEMA Zone X_UNSHADED indicates a high likelihood of flooding. • Price Volatility: The property has experienced significant price fluctuations over the years, suggesting a volatile market that may not guarantee consistent appreciation. The 61.9% increase over the last sold price is not indicative of the market. • Limited Square Footage: At 965 sqft, the home may not be suitable for larger families or those desiring more living space, impacting resale value. • Potential Noise: Proximity to West Point may result in noise disturbances from military activities and events, potentially affecting quality of life. • Historic Property Limitations: Being an 1870 build, there may be restrictions on renovations or modifications due to historical preservation guidelines, limiting future improvements. • Market Saturation: The rental market in Highland Falls is heavily influenced by the military community, which may create competition for rentals and impact long-term appreciation.
Insurance
Annual Cost

$1,224

$102 per month

Financials

Monthly Costs

Price History

Property Taxes

$0
2023 Tax Assessment
NaN%from previous year
Assessed Value$174,900
Tax Rate0.00%

Location & Comparables

Subject Property
Comparable Sales
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