345 Drexel Drive
About This Property
The centerpiece of the property is a roomy 5-bedroom, 2-bath Colonial home, complemented by two additional top-floor rooms offering flexible space for offices, studios, guest quarters, or future expansion. Whether you envision a peaceful country retreat, an active equestrian operation, or a thriving agricultural business, this property offers the infrastructure to bring your vision to life. Equestrian enthusiasts and entrepreneurs alike will appreciate the impressive facilities, including 21 total horse stalls, multiple tack rooms, extensive hay and equipment storage, kennel facilities, and a spacious 3-car garage. The possibilities are truly extraordinary - create your own hobby farm, professional boarding stable, training facility, rescue operation, or multi-use agricultural enterprise.
Three substantial cinderblock barns provide unmatched versatility and functionality:
• A massive 4,000-square-foot barn featuring soaring door openings and expansive open space, ideal for use as a covered riding arena, indoor training space, equipment storage, workshop, or event venue.
• A nearly 2,300-square-foot heated barn with 5 stalls, offering exceptional flexibility and exciting potential for conversion into a 2-bedroom accessory apartment, caretaker's quarters, office space, or income-producing rental.
• A sprawling 3,504-square-foot barn with 16 stalls across two levels, designed to accommodate larger equestrian operations while also benefiting from leased solar panels that help offset operating costs.
From horse boarding and training to farming, workshops, storage, rental income, or other entrepreneurial ventures, this truly unique property is loaded with opportunity and ready for its next chapter. Rarely does a property combine such scale, versatility, and pastoral beauty in one offering. Bring your imagination, your business plans, and your dreams, and make this property your own.
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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 |
|---|---|---|---|
| May 28, 2026 | Listed by BHHS Hudson Valley Properties | $625,000 | |
| Listed by BHHS Hudson Valley Properties | |||
| Sep 16, 2025 | No longer available | - | |
| No longer available | |||
| Jul 23, 2025 | Price Decreased |
$650,000
↓ $100K
(13.3%) | |
| Price Decreased | |||
| Mar 20, 2025 | Listed by RE/MAX Town & Country | $750,000 | |
| Listed by RE/MAX Town & Country | |||
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Unique Property with Tremendous Income Potential!!!
Located in a beautiful, serene setting with stunning mountain views, this property offers a range of opportunities. Zoned for residential/agricultural use, the 5-bedroom, 2-bathroom home spans 2,500 square feet and dates back to the 1890s as a Foxrun Center Hall Colonial. The home includes two additional finished rooms on the third floor (no heating), a mudroom, pantry, and a spacious living room with an office area. It sits on a 5.3-acre corner lot with tree-lined roads and ample frontage.
In addition to the main house, there is a 3-car detached garage with extra space and a circular driveway. The property also boasts three large cinderblock barns, offering significant income-generating potential. These barns currently house 21 stalls, tack rooms, and hay storage. One of the barns is heated and could easily be converted into dog kennels for boarding, while the larger buildings offer plenty of space for farming equipment.
The buildings include:
Building #1: 4,000 sq. ft. with large garage door openings
Building #2: 2,288 sq. ft. heated barn with 5 stalls and a partially completed 2-bedroom accessory apartment
Building #3: 3,504 sq. ft. barn with 16 stalls, split over two levels with a concrete second floor ideal for hay storage, covered with leased solar panels
This property offers endless possibilities for the right vision—whether you’re looking to farm, start a business, or simply enjoy a large, versatile property.
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| Aug 24, 2024 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017