172 Downs ST Active Save Request In-Person Tour Request Virtual Tour
Kingston,NY 12401
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID KEYH6328187
Bedrooms 4
Full Baths 2
Originating Board onekey2
Rental Info No
Year Built 1915
Annual Tax Amount $5,066
Lot Size 3,598 Sqft
Acres 0.0826
Property Description
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
Location
State NY
County Ulster County
Rooms
Basement Unfinished
Interior
Heating Electric,Baseboard
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Electric Water Heater
Exterior
Parking Features On Street
Utilities Available Trash Collection Public
Building
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Frame,Vinyl Siding
Schools
Elementary Schools George Washington
Middle Schools J Watson Bailey Middle School
High Schools Kingston High School
School District Kingston
Others
Senior Community No
Special Listing Condition None