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1011 NY-7

Otsego County NY 13849

14
11
4
13000 sq. ft.
2939410 sq. ft.
Single-Family
Currently for sale - view listing

Overview

Excellent as a pure investment, or live in one and rent the rest! This cash cow features a lucrative portfolio of rentals on one contiguous 68+ acre property just 20 minutes from Oneonta. Rent revenue comes primarily from the five long term residential units (a sixth studio can also be rented) with diversification built in from storage spaces, a wresting club, and a short term rental cabin. There is huge opportunity to expand the short term rental income with all the extra acreage. In 2022 the property grossed $67,000+ with net operating income over $43,000. The property includes a farmhouse with a large apartment and studio, four single wides, a large barn, a rustic off-grid cabin (featured on Air BnB), and 68+ gorgeous acres of with beautiful views of the surrounding valley. The cap rate of 11% is calculated based on the rental units on 7 acres. The additional 60+ acres will also convey, valued at $1,750/acre. The property is stunning, with blossoming bushes, trees and flowers, lush lawns, and a huge hedge of yellow forsythia. A small greenhouse is a fun bonus. Trails wind through the forest to the top of the mountain and beyond, with 360 degree views. *Video & 3D Tour Available*

Features

14 bedrooms
11 bathrooms
4 carspaces
4 garage spaces
13000 sq. ft. floor area
2939410 sq. ft. lot size
Single-Family

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Local market activity for 14 bedroom single-family properties in Otsego County

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