Updated 7-Unit Rental
1 Royal Acres Drive Middletown, NY 10940
1 Royal Acres Drive, Middletown, NY, 10940
$1,399,000
Pending
For Sale
$1,399,000
Pending
MULTI_FAMILY - Middletown, NY
Property Size2,152 SF
Lot Size36.00 Acres
Days on Market46
Property Features for 1 Royal Acres Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R1
- Parking features
- Driveway
- Standard status
- Pending
- APN
- 334489-007-000-0001-040.100-0000
- Lot size
- 36.00 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 17258
Utilities
- Sewer type
- Septic Tank
- Heating system
- Propane (Heating)
- Water source
- Well
- Water front features
- Pond
- Water front
- 1
Building Details
- Year built
- 1945
- Floors in Building
- 2
- Number of units
- 7
- Building materials
- Frame
Listing Agency
Keller Williams Hudson Valley
(845) 610-6065
9 Bert Crawford Rd, Ste 104, New City, NY
Listed by
Jonathon Z. Lee
(917) 747-6688
Added: Jun 1 Checked: Jul 16 at 8:06 pm
MLS# 1007597
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a 7-building residential rental property offering 36 acres of land in the town of Mount Hope. All seven buildings have been updated, and some are still undergoing further renovations. The configuration includes a main house with 2,152 square feet and at least 2–3 bedrooms, plus Unit 2 with 1,772 square feet and two bedrooms. The remaining units are one-bedroom apartments. The property also features a pond and a large, old barn, and the rear portion provides additional land for use.
The asset is zoned R1 and is described as grandfathered as a residential-commercial property. It sits among single-family residential properties, with access described as not far from shopping and highways. The property is located in the MiniSink School District.
From an operator’s standpoint, the unit mix can support both traditional yearly rentals and intermittent short-term use, as some units were used intermittently for Airbnb while others have been rented out as yearly rentals. For buyers or managers seeking a multi-building income property, the combination of completed updates, active renovations, and on-site land and amenities offers flexibility in how units and grounds can be managed over time.
The asset is zoned R1 and is described as grandfathered as a residential-commercial property. It sits among single-family residential properties, with access described as not far from shopping and highways. The property is located in the MiniSink School District.
From an operator’s standpoint, the unit mix can support both traditional yearly rentals and intermittent short-term use, as some units were used intermittently for Airbnb while others have been rented out as yearly rentals. For buyers or managers seeking a multi-building income property, the combination of completed updates, active renovations, and on-site land and amenities offers flexibility in how units and grounds can be managed over time.
Key Highlights
- 7‑building residential rental property on 36 acres in the town of Mount Hope
- All 7 buildings have been updated, with some units still undergoing further renovations
- Unit mix includes a 2,152 SF main house (at least 2‑3 bedrooms) plus Unit 2 at 1,772 SF with 2 bedrooms; remaining units are 1‑bedroom units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.9k | $35.28 |
| − Vacancy | −$2.7k | −$1.27 |
| EGI | $73.2k | $34.01 |
| − OpEx | −$32.9k | −$15.30 |
| NOI | $40.3k | $18.71 |
2,152 SF · lease $35.28/SF/yr · vacancy 3.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$575.1K
$503.2K – $670.9K
NOI $40,254 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$728.9K
$637.8K – $850.3K
NOI $51,020 @ 7.0% cap · market cap 3.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Seven updated residential buildings offer a mix of unit types on 36 acres, with ongoing renovations at select structures.
Where is this apartment building located?
The property is located at 1 Royal Acres Drive Middletown, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 7‑building residential rental property on 36 acres in the town of Mount Hope; All 7 buildings have been updated, with some units still undergoing further renovations; Unit mix includes a 2,152 SF main house (at least 2‑3 bedrooms) plus Unit 2 at 1,772 SF with 2 bedrooms; remaining units are 1‑bedroom units
