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373 Church Street, Poughkeepsie (Poughkeepsie City), NY, 12601 | $325,000
Now in Contract -Exceptional Income-Producing Property with 2 Units and Potential for a 3rd Unit with permits and investigation of zoning Discover the potential of this wonderful income-generating property featuring two fully functional units and the possibility of a third unit, all complemented by its own rear parking lot for added convenience. Property Highlights: First Floor Unit: Layout: Two bedrooms, kitchen, full bathroom, and living room. Upgrades: Equipped with a newer furnace and hot water heater. Utilities: Separate meter, with tenants paying for their own utilities. Second Floor Unit: Layout: Two bedrooms, living room, kitchen, full bathroom, and a bonus room currently used as a small bedroom. Utilities: Separate meter, with tenants paying for their own utilities. Third Floor Potential Unit. Need Bldg permits and possible variance. Utilities: Water, sewage, and gas line already brought into the third floor. Electrical: Separate fuse panel box. Progress: Mostly sheet rocked with two bedrooms, ready for final touches to become a complete unit. Building Details: Above Grade: 1828 sq ft Unfinished Square Feet: 800 sq ft Below Ground Square Feet: 300 sq ft Roof: Asphalt shingles Heating: Gas Investment Benefits: Reliable income from current tenants. Separate meters for each unit ensure that tenants cover their own utility costs. Opportunity to increase rental income by finishing the third-floor unit. Rear parking lots add significant value for tenants with vehicles. This property is a fantastic opportunity for investors looking to maximize their returns with a fully functional duplex and the added potential of a third rental unit. Don't miss out on this prime investment opportunity!
Features
- Town: Poughkeepsie
- Bedrooms: 4
- Baths: 2 full
- Units: 2
- Style: Multi Family
- Year Built: 1920
- Heating: Natural Gas, See Remarks
- Cooling: None
- Approx Sq. Feet: 1,828
- Acreage: 0.07
- Est. Taxes: $5,213
- Elem. School: Seymour Smith Intermediate Lrn Ctr
- Middle School: Poughkeepsie Middle School
- High School: Poughkeepsie High School
- School District: Poughkeepsie
- MLS#: H6318467
- Days on Market: 87 days
- Website: https://www.raveis.com
/prop/H6318467/373churchstreet_poughkeepsie_ny?source=qrflyer
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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
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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860.690.5052
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
373 Church Street, Poughkeepsie (Poughkeepsie City), NY, 12601
$325,000
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
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $260,000 | $260,000 | $260,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 7.250% | 6.990% | 6.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.655% | 7.146% | 6.412% |
| Monthly Tax Payment | $434 | $434 | $434 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,774 | $1,728 | $2,212 |
| Total Monthly Payment | $2,283 | $2,237 | $2,721 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535