Nine Cottages in Pine
46 Crawford Street Pine Bush, NY 12566
46 Crawford Street, Pine Bush, NY, 12566
$1,559,000
For Sale
$1,559,000
Nine fully rented cottages with potential for rental upside.
Property Size5,500 SF
Price / SF$283.45
Days on Market1366
Property Features for 46 Crawford Street
General Information
- Standard status
- Active
- Size
- 5,500 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1922
Listing Agency
HOMECOIN.COM
(888) 400-2513
Listed by
Jonathan Minerick · License #3477996
(888) 400-2513
Source
Compass
Added: Oct 22, 2022 Checked: Jul 17 at 4:18 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HOMECOIN.COM
Investment Insights
Based on property information with market context.
This property features nine fully rented cottages located in Pine Bush, New York. The current annual rent roll is $162,000. Five of the cottages have been recently updated with new kitchens, bathrooms, and flooring. There is potential for rental upside through rent increases and renovating the remaining four cottages. The property borders the Shawangunk Kill, offering fishing opportunities and scenic views. Tenants are responsible for their own utilities. The property includes a well and septic system and consists of one parcel with multiple buildings. The total property size is 5,500 square feet.
Key Highlights
- High Income Potential: $162,000 current annual rent roll with significant upside.
- 9 Fully Rented Cottages: Enjoy a stable income stream.
- Updated Units: 5 cottages recently renovated with new kitchens, bathrooms, and flooring.
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 | $194.0k | $35.28 |
| − Vacancy | −$7.0k | −$1.27 |
| EGI | $187.1k | $34.01 |
| − OpEx | −$84.2k | −$15.30 |
| NOI | $102.9k | $18.71 |
5,500 SF · lease $35.28/SF/yr · vacancy 3.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.29M – $1.71M
NOI $102,880 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,395 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Nine fully rented cottages with potential for rental upside.
Where is this multifamily property located?
The property is located at 46 Crawford Street Pine Bush, NY.
What is the asking price?
The asking price for this property is $1,559,000.
What are key features of this property?
This property features: High Income Potential: $162,000 current annual rent roll with significant upside.; 9 Fully Rented Cottages: Enjoy a stable income stream.; Updated Units: 5 cottages recently renovated with new kitchens, bathrooms, and flooring.
