51 Fairway Dr

Greene County NY 12431

233046 sq. ft.

Duplex

Last sold for $255,000

Daniel Romero, last sold this property on 06 October 2022 after 464 days on market.

Overview

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 some updates to meet building code. Happy to share engineer's report outlining scope of work to obtain CO.

Features

2 bathrooms

233046 sq. ft. lot size

Duplex

Estimated Value

We need at least 3 similar duplexes sold in Greene County over the last 12 months.

Property history for 51 Fairway Dr

2022

Rented

Undisclosed

14 Nov 2022 by Heart Land Realty

2022

Sold

$255,000

06 Oct 2022 by Daniel Romero, of Compass Greater NY, LLC

2020

Sold

$215,000

10 Jun 2020 by Louise Warner, of Louise Warner Realty

Happy sellers in Greene County

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