171 Chambers Street, Newburgh, NY 12550

• 5 beds |
• 4 baths |
• 2,800 sqft

Property Description

7.6% Cap Rate, Break Even Approx 13 years. A classic three-story brick residence with a fully finished basement, now fully renovated and delivered with two upgraded units. Each residence offers approximately 1,400 sq ft of living space. The upper duplex features three bedrooms and one-and-a-half baths across the top two floors, while the lower duplex provides two bedrooms, direct backyard access, and a rear deck. Both units include new split systems, brand new kitchens, new appliances, new hot water heaters, refinished original hardwood flooring, updated lighting throughout, fresh paint, and quartz kitchen counters. Set on a manageable lot and minutes from key daily destinations, the location offers quick access to the waterfront district, major commuter routes, the hospital, the Thruway, and the interstate. The surrounding blocks continue to experience active investment and multiple renovated brick multi-families, supporting strong absorption and long-term potential. Delivered fully vacant with clear mechanical access and public utilities in place, the property provides an efficient path for occupancy or investment. Because it is located within the East End Historic District, two potential tax incentives may apply: the RPTL §444-a exemption and the New York State SHPO rehabilitation tax credit program. Buyers should verify eligibility and application requirements with the appropriate agencies. A flexible, turnkey two-unit opportunity positioned for durable performance in one of Newburgh’s most investment-active corridors. Project rent(gross income is) 58,800 Estimated Expenses 15,000 Net operation $43,800 Cap Rate is 7.6% Break even approx 13.2 years

Listing Status:

Active

Listing Office:

RE/MAX Town & Country : 845-765-6128

MLS ID:

939310

Interior

• General: First Floor BedroomFirst Floor Full Bath
• Laundry: In Unit
• Basement: FinishedFullWalk-Out Access
• Flooring: Hardwood
• A/C: Ductless
• Heating: Heat Pump

Exterior

• Parking: On Street

Construction

• Windows: Double Pane Windows

Location

• Originating MLS: onekey2
• School District: Newburgh
• County: Orange County

Lot

• Zoning: 331100-018-000-0004-003.000-0000
• Fencing: Back Yard

Utilities

• Utilities: Electricity AvailableElectricity ConnectedNatural Gas AvailableNatural Gas ConnectedSewer AvailableSewer ConnectedWater AvailableWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2
• Exclusions: All staging and decortoolsmaterialsetc.

This listing courtesy of RE/MAX Town & Country