New Listing - 09/17/2024
172 Downs Street, Kingston, (Kingston City), NY, 12401
4 beds
2 Full baths
1915
Two Story
1,560 sqft
Built in 1915, the current owners have made significant updates to the building, including a new roof, new TimberTech front porch, bathroom renovation in the downstairs unit, and new carpet in the upstairs unit. Each unit is 780 square feet, with two bedrooms and one bathroom. The spacious backyard is ripe for landscaping to add value to the property. Apartment 1 rents at $1,380 monthly, and Apartment 2 rents at $1490 monthly, for a total monthly rent of $2,870, $34,400 annually. With low expenses, as tenants pay their own utilities, this is an estimated 8% cap rate at the asking price of $330,000. Midtown continues to grow, with new businesses lining Broadway and the surrounding streets. Rental units are in high demand, and while these tenants are in good standing, market rate rents could improve the property's cash flow and cap rate significantly. Both units are occupied, proof of funds required for showing. Advance notice required. Showing times: Sundays 12-4pm
Status:
Active
Town:
Kingston
Type:
Multi-family
Units:
2
Heating:
Electric, Baseboard
Cooling:
Window Unit(s)
Basement:
Unfinished
Parking:
On Street
Acreage:
0.08
Est. Taxes:
$5,066
Assessment
$122,000
Construction
Frame, Vinyl Siding
Elementary School:
George Washington Elementary School
Middle School:
J Watson Bailey Middle School
High School:
Kingston High School
School District:
Kingston
MLS #:
H6328187
Community Info
School Info
Walk Score
Mass Transit
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Listing courtesy of Country House Realty Inc 845-397-2590