Property profile

0 Meadowbrook Ct Patterson, NY 12563

OFF-MARKET
Residential income homes
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Property summary

AI-generated overview

This exceptional redevelopment opportunity presents 23 buildable lots in Patterson, NY's desirable Meadowbrook Farms. Priced at $550,000, this multifamily development project offers significant potential. The property boasts existing engineering plans (requiring updates), a shared water source from existing wells, and previously approved septic systems. The site is a level lot, part of an established homeowner's association, and benefits from existing infrastructure. The Town of Patterson has expressed support for the project's completion and is open to collaboration with new owners. This location provides convenient access to major roadways, including Routes 22, 52, 292, 311, I-84, and I-684, ensuring easy commutes. Nearby amenities include grocery stores, restaurants, recreational facilities, and the Village of Pawling. The area enjoys a strong household median income of $103,714, indicating a robust market for new residential construction. This is a rare chance to capitalize on a well-situated, partially developed site with significant upside potential in a thriving community. The property is located off Route 292, connecting to Routes 22 and 52/I-84, offering easy access to I-84 via Route 311 or Route 292, and I-684 via Route 22 or I-84. The site's proximity to amenities and major transportation routes makes it an attractive location for potential homebuyers. The existing infrastructure and the municipality's willingness to cooperate make this a streamlined development opportunity.

Property profile

Verified
Property type Residential income homes

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

Meadowbrook Ct Patterson, NY 12563
Patterson metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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