Nine Cottages in Pine
46 Crawford Street, Pine Bush, NY 12566
Nine fully rented cottages with potential for rental upside.
Type:Multi Family
Property size:
5,500 SFPrice / SF:
$283/SF- Added:
- Mar 6, 2023
- Days on Market:
- 1184
- Last Refresh:
- Mar 13 at 10:56 am
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 agent Jonathan Minerick License #01523060 (888) 400-2513
Listing office Homecoin.com (888) 400-2513
Listing date Mar 6, 2023
Source Compass
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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.
- Waterfront Property borders the Shawangunk Kill, offering fishing and scenic views.
- Tenant‑Paid Utilities: Reduced operating expenses.
- Multiple Buildings on One Parcel: Simplified management and future development potential.
Overview
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.
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.
Location Intelligence
Current Use by Public Records
Multifamily properties
Location Insight
- Map
- Local Demand
- City
- Pine Bush
- County
- Orange
- State
- New York
- Longitude
- -74.3499318
- Latitude
- 41.5971058
Nearby Similar for Sale
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.
