Seller's Agent in 2023
Matt Eyler
New Paltz Properties
(845) 417-8300
22 in this area
32 Total Sales
21 Grove St New Paltz, NY 12561
Estimated Value: $680,000 - $973,000
8
Beds
5
Baths
3,020
Sq Ft
$266/Sq Ft
Est. Value
About This Home
As of April 2023Opportunity to purchase one of the finest college rental buildings in New Paltz. Impeccably maintained 2-Unit property, with 5BR/2BA in the original house + 3 BR/3BA in the attached 2002 addition. The large 0.34-acre lot is located just one block from Main Street and four blocks from the SUNY New Paltz campus. The building is fully leased to two separate groups of six students each, through June 2023, at a total of $6,905 per month. Both groups of tenants would like to extend through June 2024. Tenants pay all utilities including electricity, heat, water, sewer, and garbage. Twelve private off-street parking space provide a rare and convenient amenity. The current owner bought the property in 2014 and has done a great job, with recent improvements that include a new roof, new on-site coin-operated laundry, parking lot blacktop, security cameras, new hot water heater, and new stove. True 7.1% cap rate, with upside in the rents (current rent averages just $575 per student). Full financials available upon request.
Last Agent to Sell the Property
New Paltz Properties License #10311209133 Listed on: 11/15/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,698
Year Built
- Built in 2002
Lot Details
- 0.34
Parking
- Off-Street Parking
Home Design
- Duplex
Utilities
- Heating System Uses Oil
- Baseboard Heating
Additional Features
- 5 Bathrooms
- 0.34 Acre Lot
Listing and Financial Details
- The owner pays for taxes
- Legal Lot and Block 14 / 8
Community Details
Overview
- No Home Owners Association
- 2 Units
Building Details
- Electric Expense $644
- Insurance Expense $3,150
- New Taxes Expense $14,698
- Net Operating Income $60,060
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Apr 25, 2016
Sold by
Knobloch Paul and Knobloch Monique
Bought by
21 Grove Street Llc
Current Estimated Value
Purchase Details
Listed on
Apr 15, 2013
Closed on
Sep 17, 2014
Sold by
Mcpherson Thomas and Girtin Jennifer
Bought by
Knobloch Paul and Knobloch Monique
Seller's Agent
TERESA SHAND
Colucci Shand Realty
Buyer's Agent
John Schweitzer
Furumoto Realty of Harrison
List Price
$540,000
Sold Price
$457,500
Premium/Discount to List
-$82,500
-15.28%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.33%
Purchase Details
Closed on
Aug 14, 2006
Sold by
Brooks Donna M Mcdevitt and Mcdevitt Donna
Bought by
Mcpherson Thomas and Girtain Mcpherson Jennifer
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$492,000
Interest Rate
6.79%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Aug 6, 2001
Sold by
Cohen Shira
Bought by
Mcdevitt Donna
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$146,700
Interest Rate
7.16%
Mortgage Type
Stand Alone First
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 21 Grove Street Llc | -- | -- | |
| Knobloch Paul | $457,500 | -- | |
| Mcpherson Thomas | $615,000 | None Available | |
| Mcdevitt Donna | $163,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Direwolf Properties Llc | $558,000 | |
| Previous Owner | Mcpherson Thomas | $7,805 | |
| Previous Owner | Mcpherson Thomas | $492,000 | |
| Previous Owner | Brooks Timothy B | $50,377 | |
| Previous Owner | Brooks Timothy B | $214,623 | |
| Previous Owner | Mcdevitt Donna | $146,700 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/25/2023 04/25/23 | Sold | $739,000 | -15.9% | $245 / Sq Ft |
| 02/06/2023 02/06/23 | Pending | -- | -- | -- |
| 11/14/2022 11/14/22 | For Sale | $879,000 | +92.1% | $291 / Sq Ft |
| 09/17/2014 09/17/14 | Sold | $457,500 | -15.3% | $151 / Sq Ft |
| 09/09/2014 09/09/14 | Pending | -- | -- | -- |
| 04/15/2013 04/15/13 | For Sale | $540,000 | -- | $179 / Sq Ft |
Source: Hudson Valley Catskills Region Multiple List Service
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $13,476 | $370,500 | $72,300 | $298,200 |
| 2023 | $15,182 | $370,500 | $72,300 | $298,200 |
| 2022 | $14,704 | $370,500 | $72,300 | $298,200 |
| 2021 | $14,704 | $370,500 | $72,300 | $298,200 |
| 2020 | $14,720 | $370,500 | $72,300 | $298,200 |
| 2019 | $11,543 | $370,500 | $72,300 | $298,200 |
| 2018 | $14,176 | $370,500 | $72,300 | $298,200 |
| 2017 | $13,793 | $370,500 | $72,300 | $298,200 |
| 2016 | $13,505 | $370,500 | $72,300 | $298,200 |
| 2015 | -- | $370,500 | $72,300 | $298,200 |
| 2014 | -- | $370,500 | $72,300 | $298,200 |
Source: Public Records
Agents Affiliated with this Home
-
-
K
Buyer's Agent in 2023
Kelli Williams
The Machree Group, LLC
(845) 779-1288
2 in this area
37 Total Sales
-
T
Seller's Agent in 2014
TERESA SHAND
Colucci Shand Realty
-
J
Buyer's Agent in 2014
John Schweitzer
Furumoto Realty of Harrison
Map
Source: Hudson Valley Catskills Region Multiple List Service
MLS Number: 20223599
APN: 3801-086.034-0008-014.000-0000
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