SoldOct 6, 2022

Listed by Daniel Romero and Megan Brenn-White

Source: Multiple Listing Service of Ulster County #20221850

51 Fairway Dr, Greene County, NY, 12431

$255,000

2
233046 sq. ft.

Duplex

30+ days on the market

Sold: Oct 6, 2022

What's around 51 Fairway Dr

About this property

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.

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Seller's review

over 3 years ago

Danny was great to work with selling my house! During the sale process I discovered problems with th

Danny was great to work with selling my house! During the sale process I discovered problems with the house I was unaware of, but Danny didn’t give up. He worked around the problem in an ethical way and got the home sold! He was always responsive and really helped with negotiation! I am so appreciative of the work Danny did to get my home sold!

S
Samantha Cash
Seller

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