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5
Single Family

$250,000

19 Poplar Street

Poughkeepsie, NY 12601

Turn Key Rental- Marist College

Comfortable five-bedroom, two full bath ranch style brick house.  Extra large kitchen and fully finished walkout basement. Private fenced backyard with large paved driveway. Backyard fully re-seeded in spring 2018.The house is fully rented through May 2020 to Marist College Students. Tenants pay all utilities including water/sewer.This house is student-rental ready and offers a good return on investment. 

This house is located within close proximity to four colleges in Poughkeepsie NY: 0.29 miles to Marist College, 1.37 miles to Dutchess County Community College, 2 miles to the Culinary Institute of America (CIA), 2.5 miles to Vassar College.

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Property Details
Property TypeSingle Family
Beds5
Baths2.0
Buildings1
Stories1
Lot Size0.17 Acres
Total Sq Ft2,272
ZoningRM
Years Built1954
Years Renovated2013
Parking5 Spaces
SBL134/68/9
OwnershipLLC/Corp
Current OccupancyRented
(6/1/2019 - 5/31/2020)
Future OccupancyNo
Financials
Asking Price $250,000
NOI $28,776
Gross Income $37,500
Cap Rate 11.51%
Price / Bedroom $50,000
Price / Sq Ft $110
Earnest Money Deposit 10%
Due Diligence Period 60 Days
Closing Period 30 Days

Investment Highlights

Well maintained rental with all new upgrades to major structural components over the last five years, which includes:

  • New roof- complete tear down and rebuild including new 1/2" plywood (2013)
  • New Seamless Gutters installed in 2013
  • New back porch/landing and stairs installed in 2017
  • New 80-gallon hot water tank installed in 2014
  • New gas boiler and stainless-steel chimney liner installed in September of 2016
  • Vinyl double pane windows throughout
  • Bathroom renovation in 2013
  • Replaced old sewer line with brand new one in 2014
  • Walkout finished basement remodeled in 2013
  • New refrigerator installed in 2016
  • New clothes washer and dryer installed in 2013
  • Tenants pay all utilities and currently are billed for water/sewer usage.
  • House includes the following appliances: refrigerator, electric stove/oven, dishwasher, clothes washer and dryer.
  • Hard wired interconnected smoke and carbon monoxide detectors installed throughout the house.
  • 200-amp electrical service with breakers.

Photos

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