253 3rd Street
About This Property
City of Newburgh. Built in 1900 but recently renovated, the four-bedroom property is move in ready. Inside there's 2,246 square feet of living space, including a formal dining room and while the design is modern, there are nods to the past in the finished oak floors. The living room is a bright and airy space, perfect for relaxing. And just beyond you'll find a 'bonus' room that could be used as the 5th bedroom. It even has a great laundry room, not to mention the full updated bathroom all on the first floor. Upstairs you have three more bedrooms including the Master Bedroom with 3 closets and all hardwood floors. There is also a full bathroom with a huge skylight above the shower that gives so much light. One bedroom upstairs are being used as an Office Space, with doors leading to the Jubliet Balcony. There are plenty of era-appropriate details including wooden floors and crown moulding throughout. You are just minutes from famous waterfront restaurants, shopping and marina area. If you need to commute to NYC the ferry is minutes to the Metro-North.
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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 |
|---|---|---|---|
| Mar 24, 2023 | Sold | ||
| Sold | |||
| Feb 20, 2023 | In contract | - | |
| In contract | |||
| Dec 1, 2022 | Price Decreased |
$334,999
↓ $5K
(1.5%) | |
| Price Decreased | |||
| Oct 21, 2022 | Price Decreased |
$339,999
↓ $5K
(1.4%) | |
| Price Decreased | |||
| Aug 19, 2022 | Price Decreased |
$344,900
↓ $5K
(1.4%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017