83 Plank Road W
About This Property
The 4.39 acre lot has a gentle slope off the road with a driveway already in place and a pretty perfect build site. Electric and internet can easily be pulled to the property from nearby utility poles. Two huge, age-wisened maple trees welcome a visitor, and pine, hawthorn, green apple and hickory trees are found lining the lovely open meadow. The two sheds are grandfathered and two more structures may be built per local code.Old stone walls on the property are romantic relics of the Drake Hotel, a rooming house in the late 1800s. There is an existing well on the property that could very likely be serviced and brought back to life. Located in Forestburgh, NY, just a 2 hour drive to the George Washington Bridge, near some of the best darn pizza in the area, Forage Pizza. There is a convenient NJ Transit train at Port Jervis just 20 minutes away. Bethel Woods Center for the Arts is a great venue for summer concerts and just 35 minutes away.
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Cap Rate Calculator
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 19, 2025 | Sold | ||
| Sold | |||
| Jun 21, 2025 | In contract | - | |
| In contract | |||
| Feb 4, 2025 | Listed by Country House Realty Inc | $475,000 | |
| Listed by Country House Realty Inc | |||
| Dec 11, 2024 | No longer available | - | |
| No longer available | |||
| Dec 10, 2024 | Relisted | $475,000 | |
| Relisted | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017