//ppxinvest.com/img/no-image.png
5
Single Family

$300,000

25 Inwood Ave

Poughkeepsie, NY 12601

Turn Key Rental- Marist College

Student renters love this ranch-style brick house! A giant finished walk-out basement always gets appreciative notice from prospective renters!  This house also boasts five good sized bedrooms. This property is one of the last large parcels of land available in the sought after "Fairview" neighborhood of Poughkeepsie, conveniently situated between four colleges. Start with this perfect turn-key student rental and work toward building more on this over-sized plot of land!  Huge paved parking lot at the back of the property and large level front and rear yards. This house is student-rental ready and offers a good return on investment. This property is a popular student rental and is currently rented out to Marist College students through 5/31/19



This house is located within close proximity to four colleges in Poughkeepsie NY: 0.86 miles to Marist College, 0.74 miles to Dutchess County Community College, 1.62 miles to the Culinary Institute of America (CIA), 2.85 miles to Vassar College.

See the accompanying 3D Fly-Thru tour.

Download Property Card

Property Details
Property TypeSingle Family
Beds5
Baths2.0
Buildings1
Stories1
Lot Size0.98 Acres
Total Sq Ft1,573
ZoningR20
Years Built1960
Years Renovated2012, 2017
Parking20 Spaces
SBL6162/06/320869
OwnershipLLC/Corp
Current OccupancyRented
(6/1/2017 - 5/31/2018)
Future OccupancyRented
(6/1/2018 - 5/31/2019)
Financials
Asking Price $300,000
NOI $34,100
Cap Rate 11.37%
Price / Bedroom $60,000
Price / Sq Ft $191
Earnest Money Deposit 20%
Due Diligence Period 60 Days
Closing Period 30 Days

Investment Highlights

Well maintained rental with many upgrades including:

  • New double pane vinyl windows throughout
  • Rear parking lot installed in 2012
  • New 80-gallon hot water tank installed in 2014
  • New gas boiler installed in 2016
  • Vinyl double pane windows throughout
  • Bathroom renovation in 2013
  • Installed new sewer line and internal waste lines in 2012
  • New 100 amp electrical panels installed 2012
  • Walkout finished basement remodeled in 2013
  • New large refrigerator installed in 2014
  • 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, microwave, dishwasher, clothes washer and dryer.
  • Hard wired interconnected smoke and carbon monoxide detectors installed throughout the house.

Photos

Contact


The ppx website ("ppx" or "perch'n property manager" or "perchn/ppx.com") contains confidential information involving the financial and physical condition of investment properties. In order that I may be privy to the confidential disclosures on the ppx website, I enter into this Confidentiality Agreement as a User of the ppx website.

In consideration of the foregoing, I agree to hold all such confidential information disclosed on ppx in confidence and not to disclose such confidential information to anyone other than my employees or agents with a bona fide need to know, provided such employees or agents are governed by a parallel confidentiality obligation of equal or greater force. Additionally, I agree to use at least that degree of care that I would use to protect my own information of a similar confidential nature, but in no event less than reasonable protection. Excluded from such confidential information is information which, as proven by me by clear and convincing evidence, was in my possession without confidential limitation prior to disclosure, is known or becomes known to the general public without breach of this Agreement, is received rightfully by me without confidentiality limitations from a third party, or is disclosed publicly by ppx without substantially similar confidentiality restrictions. This confidentiality obligation is to survive the termination of this Agreement.