240 Drexel Drive
About This Property
Two parcels, totaling 126 acres, sold together and never to be separated. That matters, because what you are buying is wholeness. Roughly 55 acres of open paddock roll out in front of you, ready for horses, and the rest is a working balance of cleared, tillable ground and mature woods that gives you both the long view and the deep cover. Put it to hay, turn it into a market garden, run livestock, or plant the orchard you have been sketching in your head for years. The zoning here is built for it. The hunting is real. The pasture is real. The room to breathe is the entire point.
The framework for a working life is already standing. An 18 stall barn anchors the land, with a kitchen, living room, and bathroom built in and heated, a place to warm up between chores or run the whole operation from. A run in shed stretches 205 feet, long enough for serious shelter and equipment. Water and electric are already run to the barn and the shed. A 3 bedroom mobile home sits ready with utilities connected, a roof over your head from the first day while you build toward the larger plan. Be honest with yourself about the work ahead, because the barn and the home both want hands and vision. What they give back is a head start that raw land can never offer.
And the plan can grow as large as you let it. This land is suitable for subdivision, with the potential for a few road frontage lots or a private compound shaped exactly the way you picture it. Nothing is approved yet, which means nothing is decided yet either. The blank page is entirely yours.
You are 20 minutes from Aroma Thyme Bistro and the tasting rooms of the Shawangunk Wine Trail, with the cliffs of Sam's Point Preserve, the open sky of the Shawangunk Grasslands National Wildlife Refuge, and the quiet miles of the Wallkill Valley Rail Trail all close by. Crawford Park and the Pine Bush Library sit just down in the village, and every May the Pine Bush UFO Festival fills Main Street with the kind of character money cannot buy. Manhattan is roughly 75 miles south when the city calls, and you will be a little gladder with every mile on the way back. This is the property people are picturing when they say they want something they can actually use. It has been waiting for the person who means it.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 22, 2026 | In contract | - | |
| In contract | |||
| Jun 26, 2026 | Listed by KW Hudson Valley United | $1,175,000 | |
| Listed by KW Hudson Valley United | |||
| Dec 15, 2000 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017