47 Summit Street
About This Property
Upstairs, comfortable bedrooms showcase original wood trim and vintage paneled doors. The basement includes a finished room with built-in cabinets that can flex as a yoga space, office, or studio, as well as a utility and storage room. A tiered 800-square-foot deck extends the living space outdoors, and is shaded by majestic black walnut trees overlooking a peaceful backyard with a lawn, perfect for weekend barbecues. A detached garage with built-in shelving adds practical storage for tools or hobbies.
Recent upgrades include a new roof, furnace, hot water heater, electrical updates, refinished floors, and new appliances, giving modern ease to a century-old home. Philmont is an up-and-coming village, with the new Mill event space and the developing Rail Trail set to draw energy and visitors. High Falls Conservation Area offers waterfall hikes minutes away, Hudson is close for restaurants and culture, and NYC is within easy reach via the Taconic. Summit Cottage is a move-in ready chance to own a historic home in a Hudson Valley community on the rise.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017