172 Downs Street, Kingston (Kingston City), NY, 12401 | $330,000

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

Features

  • Town: Kingston
  • Bedrooms: 4
  • Baths: 2 full
  • Units: 2
  • Style: Two Story
  • Year Built: 1915
  • Heating: Electric, Baseboard
  • Cooling: Window Unit(s)
  • Basement: Unfinished
  • Approx Sq. Feet: 1,560
  • Acreage: 0.08
  • Est. Taxes: $5,066
  • Elem. School: George Washington Elementary School
  • Middle School: J Watson Bailey Middle School
  • High School: Kingston High School
  • School District: Kingston
  • MLS#: H6328187
  • Days on Market: 52 days
  • Website: https://www.raveis.com
    /prop/H6328187/172downsstreet_kingston_ny?source=qrflyer
Listing information has been assembled from various sources of varying degrees of reliability. Any information critical to the buying decision should be independently verified.Listing courtesy of Country House Realty Inc   Phone: 845-397-2590

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Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 1880936

347.223.0992

Sarah.Alvarez@Raveis.com

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172 Downs Street, Kingston (Kingston City), NY, 12401

$330,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Sarah Alvarez

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 347.223.0992

Sarah.Alvarez@Raveis.com

NMLS Mortgage Loan Originator ID 1880936

5/6 (30 Yr)
Adjustable Rate Conforming*
30 Year
Fixed-Rate Conforming
15 Year
Fixed-Rate Conforming
Loan Amount $264,000 $264,000 $264,000
Term 360 months 360 months 180 months
Initial Interest Rate** 7.000% 6.875% 5.990%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.551% 7.042% 6.160%
Monthly Tax Payment $422 $422 $422
H/O Insurance Payment $75 $75 $75
Initial Principal & Interest Pmt $1,756 $1,734 $2,226
Total Monthly Payment $2,253 $2,231 $2,723

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.