123 Rock Cut Road, Newburgh, NY, 12550 | $599,000

Three units on a 3. 3 acre parcel with a three/four bedroom cape cod plus two 1-Bedroom units and 3 garages. You may use this property as a single family with rental units or use those units for extended family assemblage. Lovely wooded, level setting with mature landscaping, this site has room for an additional building or is a candidate for a 2 lot subdivision. Very well located near Orange Lake, one mile for I-84 and the NYS Thruway. The cape has an enormous front room which is open to the kitchen and main entry. There is also a formal Living Room with Fireplace, Office, and two bedroom with a full bath, which complete the first floor. The full cellar is partially finished and has a exit to grade. The Cape has central air, forced warm-air oil Heat, a well, septic, and a lovely garden pavilion. The long accessory building has three residential garage doors plus 2 one bedroom apartments. The month to month rentals are $700 and $800/month. Both apartments have living areas that open to the kitchens and a private bedroom and full bath. For the apartments there is one hot water, boiler and heater, one well and septic which is not shared with the main house but separate electrical meters for each unit. This is a tremendous property that is new to the market after being a family compound for over 56 years. The property is level and has so many possibilities. Family owned since 1958 this is a very large parcel with multiple occupancies. Additional Information: HeatingFuel: Oil Above Ground, ParkingFeatures: 3 Car Detached, BuildingAreaSource: Public Records,

Features

  • Units: 3
  • Style: Cape Cod
  • Year Built: 1964
  • Garage: 1-car Detached
  • Heating: Oil, Baseboard
  • Cooling: Central Air
  • Basement: None, Walk-Out Access
  • Est. Taxes: $6,231
  • Lot Desc: Level
  • Elem. School: East Coldenham Elementary School
  • Middle School: Valley Central Middle School
  • High School: Valley Central High School
  • School District: Valley Central
  • MLS#: H6307437
  • Days on Market: 187 days
  • Website: https://www.raveis.com
    /prop/H6307437/123rockcutroad_newburgh_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 John J Lease REALTORS Inc   Phone: 845-565-2800

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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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123 Rock Cut Road, Newburgh, NY, 12550

$599,000

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 $479,200 $479,200 $479,200
Term 360 months 360 months 180 months
Initial Interest Rate** 7.000% 6.990% 6.250%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.477% 7.159% 6.498%
Monthly Tax Payment $519 $519 $519
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $3,188 $3,185 $4,109
Total Monthly Payment $3,799 $3,796 $4,720

* 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.