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

$285,000

108 E Cedar St

Poughkeepsie, NY 12601

Turn Key Rental- Marist College, DCC, CIA, Vassar

The house sits on a level double lot. Great opportunity to buy a working investment property and roll profits into a new construction project right next door!  Situated between four colleges, the house has close proximity to  Marist College and Dutchess Community College. A gracious colonial-style layout is enhanced by high ceilings throughout. There are five bedrooms, three on the second floor and two on the first. A full bathroom is available on each floor and there's lots of closet space.The huge living room with slate fireplace and good sized kitchen with the convenience of the main floor laundry complete the comfortable living arrangement of 108 East Cedar St. This house is student-rental ready and offers a good return on investment. This house has been  a popular student rental and is currently rented through 5/31/19. 



Near four colleges in Poughkeepsie NY: 1 mile to Marist College, 0.49 miles to Dutchess County Community College, 1.96 miles to the Culinary Institute of America (CIA), 2.55 miles to Vassar College.


Download Property Card

Property Details
Property TypeSingle Family
Beds5
Baths2.0
Buildings2
Stories2
Lot Size0.37 Acres
Total Sq Ft2,077
ZoningR20
Years Built1935
Years Renovated2012, 2017
Parking5 Spaces
SBL6162/06/486759
OwnershipLLC/Corp
Current OccupancyRented
(6/1/2017 - 5/31/2018)
Future OccupancyRented
(6/1/2018 - 5/31/2019)
Financials
Asking Price $285,000
NOI $20,000
Cap Rate 7.02%
Price / Bedroom $57,000
Price / Sq Ft $137
Earnest Money Deposit 20%
Due Diligence Period 60 Days
Closing Period 30 Days

Investment Highlights

Well maintained rental with many upgrades including:


  • New 50-gallon hot water tank installed a few years ago
  • New Chimney liner and gas conversion gas installed in 2014
  • Updated bathrooms 2016
  • Kitchen Remodel 2016
  • New 100 amp electrical service install (entire service upgrade) 2012
  •  Clothes washer and dryer in very good condition
  • Refurbished front and rear porches and replaced stairs to rear porch 2016
  • 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.