2823 State Route 52
About This Property
Originally built in 1770, this 4-bedroom, 2-bathroom farmhouse offers the chance to reimagine a historic property with flexibility and fewer restrictions, as it is not part of a historical society. The home has been fully gutted, with major first-floor improvements already completed, including new electrical and framing, allowing you to move forward with your vision. There is also potential to expand beyond 3,000 square feet, offering additional flexibility for residential or mixed-use design.
Set on nearly 12 acres of gently sloping, partially cleared land, the property is nestled along the Shawangunk Kill, a tributary of the Wallkill River, providing a scenic natural setting while maintaining usability. Positioned along a well-traveled stretch of State Route 52, at the border of Ulster and Orange County and adjacent to the hamlet of Pine Bush, the property benefits from strong visibility and consistent traffic exposure.
The land, layout, and existing improvements make this property highly functional for a variety of uses. A large driveway and garage capacity for 10+ vehicles provide ample space for operations, storage, or equipment. Additional improvements include a 37' x 64' pole barn with utility connections, ideal for workshops, storage, events, or future commercial adaptation, along with a detached 21' x 24' garage. Electric service is on site, with private well and septic already installed.
Ulster County offers the added benefit of low property taxes, along with potential tax savings, incentives, and grant opportunities available through Ulster County and New York State for qualifying start-ups, business development, and redevelopment projects.
Located approximately 75 miles from NYC, the property provides accessibility while being surrounded by the natural beauty and attractions of the Hudson Valley, including Minnewaska State Park Preserve, Sam's Point, local wineries, farm markets, and outdoor recreation.
A rare opportunity to combine flexibility, visibility, space, and long-term potential in one remarkable property.
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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 |
|---|---|---|---|
| Jul 29, 2026 | Price Decreased |
$575,000
↓ $50K
(8%) | |
| Price Decreased | |||
| Jun 3, 2026 | Price Decreased |
$625,000
↓ $75K
(10.7%) | |
| Price Decreased | |||
| Apr 2, 2026 | Listed by KW Hudson Valley United | $699,900 | |
| Listed by KW Hudson Valley United | |||
| Dec 31, 2022 | No longer available | - | |
| No longer available | |||
| Jul 4, 2022 | Relisted | $519,900 | |
| Relisted | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017