4 parcels tally 15,000 sq. ft. / a little over 1/3-acre of total land (7,500 sq. feet on each side ↔ of Ridge Street). Has a private resort feel.
2BR house with integrated garage holds 2 of the extra lots adjacent, then the 4th parcel (largest) is across the street:
(see reel for better aerial views)
This property is a very sound 2BR with a massive *bathroom. Was never a rental, always owner-occ & has been caringly maintained by the son with the utilities on for 5-7 years.
- central air
- 1-car garage
- kitchen has been updated, and it’s halfway decent!
- property is NOT beat up
- restorable hardwood floors
- home is being totally cleared-out, family comes in often from out of state to maintain, secure, & clean the property
- solid property all-around, no cracks in foundation
- electric’s updated, mechanicals all in good order
- a great bonus for privacy + possibly even more land is that the house to left is being torn down soon by the borough!
At $38k price point, cap rate should be at or over 20% after a handful of upgrades.
The tightness of the property’s upkeep inside and outside is apparent in the photos (eg, retaining wall, garage, landscaping).
The lot inc. across the street from the house is 75×100, can get all types of creative to generate additional income from it.
- 0456-K-00277 – house
- 0456-K-00274 – 2500 sq.ft. lot
- 0456-K-00276 – 2500 sq.ft. lot
- 0456-K-00305 – 7500 sq.ft. lot
***They converted the third captive bedroom to a HUGE full bathroom; the basement held the original — plumbing & an old bathtub are there should you opt to revamp back to 2nd ~full BA.
- Taxes: $544 TOTAL ($402 + $32 + $32 + $78)
- Electric: Updated
- Plumbing: Updated
- Kitchen: Updated 2019
- Bath: Main: OK, enormous; basement: needs to be configured
- Roof: 15 yrs old
- Furnace: 10-12 yrs old
- Hot Water Tank: 8-10 yrs old
- Windows: Double-paned (older)
- Floors: 2
- Parking: 1-car garage + plenty more
- Rental Potential: $1,175⁺/month