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51 Fairway Drive

Greenville, NY 12431
  • $250,000
  • STATUS: Active
  • ON SITE: 10 Days
  • MLS #: 142556
UPDATED: 130 min ago
$250,000
  • 4
    BEDS
  • 5.35
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 1,920
    SQFT
  • $130
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1990
County:
Area:

School Ratings & Info

School District:

Description

This two-family home with amazing mountain views is so charming with its Bavarian chalet vibes! It's ideally suited for an investor looking for a multi-family rental property or co-buyers who'd like to go in on a two-unit building together.Each unit consists of 2 bedrooms and 1 full bathroom and has beautiful wood ceilings and beams (tall vaulted ceilings in the upper unit) that add a ton of warmth throughout. The kitchens are open to the living and dining areas and have plenty of counter space for cooking and entertaining. The lower unit has sliding glass doors that open onto a covered patio and the lawn beyond, while the upper unit has an expansive wrap-around deck that captures the stunning mountain views! The property is set far back from County Road 67 but also accessible from Fairway Dr, which is a private road. Its 5.35 acres of mostly open land border the Thunderhart Golf Course on one side, making it ideal for those who enjoy golfing as well.Located in the hamlet of Freehold in the town of Greenville (with low Greene County taxes), this property is just 10 mins to shops, restaurants, and a drive-in theater in Greenville, Cairo, and Oak Hill. It's 25 mins to Catskill, 25-35 mins to skiing in Windham and Hunter Mountain, and only 2 hours from NYC!Current tenant is paying below-market rent. The lower unit is vacant but was recently getting $850/mo while the upper unit rent is currently $950/mo (lease expires 11/31/22). The projected gross income for a full-time short-term rental property with 75% occupancy would be approximately $82,000 (28.6% cap rate) with potential for more income with a few cosmetic updates. For a long-term unfurnished rental, it would be approximately $27,600 (8.3% cap rate) and with fewer costs and maintenance. Cash buyers only. The property does not have a CO and would require updates to meet building code and obtain a CO. An engineer's report outlining the scope of work is forthcoming.

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© 2022 Columbia Greene and Northern Dutchess MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Gabel Real Estate. Data last updated: 2022-06-26T23:46:25.01.
www.gabelrealestate.com/homes/129904441
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51 Fairway Drive Greenville, NY 12431

  • Price: $250,000
  • Status: Active
  • On Site: 10 Days
  • Updated: 130 min ago
  • MLS #: 142556
4
Beds
2
Baths
0
½ Baths
5.35
Acres
1,920
SQFT
$130
$/SQFT
1990
Built
Neighborhood:
Greenville
County:
Greene
Area:
Greenville
School District:
Greenville
Property Description
This two-family home with amazing mountain views is so charming with its Bavarian chalet vibes! It's ideally suited for an investor looking for a multi-family rental property or co-buyers who'd like to go in on a two-unit building together.Each unit consists of 2 bedrooms and 1 full bathroom and has beautiful wood ceilings and beams (tall vaulted ceilings in the upper unit) that add a ton of warmth throughout. The kitchens are open to the living and dining areas and have plenty of counter space for cooking and entertaining. The lower unit has sliding glass doors that open onto a covered patio and the lawn beyond, while the upper unit has an expansive wrap-around deck that captures the stunning mountain views! The property is set far back from County Road 67 but also accessible from Fairway Dr, which is a private road. Its 5.35 acres of mostly open land border the Thunderhart Golf Course on one side, making it ideal for those who enjoy golfing as well.Located in the hamlet of Freehold in the town of Greenville (with low Greene County taxes), this property is just 10 mins to shops, restaurants, and a drive-in theater in Greenville, Cairo, and Oak Hill. It's 25 mins to Catskill, 25-35 mins to skiing in Windham and Hunter Mountain, and only 2 hours from NYC!Current tenant is paying below-market rent. The lower unit is vacant but was recently getting $850/mo while the upper unit rent is currently $950/mo (lease expires 11/31/22). The projected gross income for a full-time short-term rental property with 75% occupancy would be approximately $82,000 (28.6% cap rate) with potential for more income with a few cosmetic updates. For a long-term unfurnished rental, it would be approximately $27,600 (8.3% cap rate) and with fewer costs and maintenance. Cash buyers only. The property does not have a CO and would require updates to meet building code and obtain a CO. An engineer's report outlining the scope of work is forthcoming.
Exterior Features

Construction BlockFrame Garage None Paved Street Yes Roof Asphalt Siding StuccoWood Views Mountain

Interior Features

1st Floor 960 2nd Floor 960 3rd Floor 0 Appliances Included Counter Top RangeRefrigerator Basement Crawl Basement Sqft 0 First Floor Bedroom 1Bedroom 2BathLiving RoomDining RoomKitchen Floors Vinyl Heat Type Base Board Number Of Fireplaces 0 Second Floor Bedroom 3Bedroom 4BathLiving RoomDining RoomKitchen Walls Sheetrock Water Heater Electric Windows Double Hung

Property Features

Condition Good Electric 200 Amps Flood Zone No Foundation Block Lot Measurement Acres Lot Square Footage 233046.00 Other Tax 0.00 Public Viewable Yes School Tax 2923.00 Secluded No Sewer Septic Tank Style Chalet Tax Exemptions No Town Tax 1586.00 Village Tax 0.00 Water Well

Listing provided courtesy of Daniel Romero of Keller Williams Hudson Valley.


© 2022 Columbia Greene and Northern Dutchess MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Gabel Real Estate. Data last updated: 2022-06-26T23:46:25.01.
 
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Spencertown NY, 12165