Single Family


21 Chestnut Street

Poughkeepsie, NY 12601

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

Perched on a level lot surrounded by four colleges, 21 Chestnut Street makes for a near perfect student housing investment.  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, including one huge walk-in closet. This house has very nice finishes, from gleaming hardwood floors, to upgraded appliances and built in A/C units. An added plus is the separate laundry room outfitted with countertop and cabinets. The house also offers a comfortable recreation area in the basement. There are 2 decks, a Trex clad deck in front of the house and a rear deck with paver patio. The partially fenced in back yard is large and private. The property also includes a standalone garage/storage barn with 2 bays, poured concrete floor, high ceilings and an attic. The garage and house share matching vinyl siding. A nice long driveway offers plenty of parking for at least five cars. This is an excellent student-rental ready property and offers a good return on investment.

Near four colleges in Poughkeepsie NY: 1 mile to Marist College, 0.54 miles to Dutchess County Community College, 1.98 miles to the Culinary Institute of America (CIA), 2.52 miles to Vassar College.

See the accompanying 3-D Fly-Thru tour.

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Property Details
Property TypeSingle Family
Lot Size0.23 Acres
Total Sq Ft1,326
Years Built1955
Years Renovated2012
Parking5 Spaces
Current OccupancyRented
(6/1/2017 - 6/10/2020)
Future OccupancyNo
Asking Price $255,000
NOI $39,000
Cap Rate 15.29%
Price / Bedroom $51,000
Price / Sq Ft $192
Earnest Money Deposit 20%
Due Diligence Period 60 Days
Closing Period 30 Days

Investment Highlights

Well maintained rental with many upgrades including:

  • Double pane vinyl windows throughout
  • Tasteful vinyl siding
  • Architectural shingle roof
  • 80 Gallon electric hot water tank
  • Updated bathrooms
  • Kitchen Remodel
  • 200 amp electrical service
  •  Clothes washer and dryer
  • Trex deck in front of house
  • paver walkways and patio
  • White vynil picket fence
  • Hard wired interconnected smoke and carbon monoxide detectors installed throughout the house
  • Large garage/storage barn with 2 bays and attic
  • 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.



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