NOT LISTED FOR SALE

498 Liberty St Newburgh, NY 12550

Estimated Value: $473,000 - $724,000

9 Beds
4 Baths
2,981 Sq Ft
$208/Sq Ft Est. Value

Last Sold June 29, 2021

Last sale price $475,000 $159 Per Sq Ft

Est. 31% increase in value since last sale

Current estimated payment $4,696/month

31 Days on Market

Highlights

  • Water Views
  • Property is near public transit
  • Park
  • Deck
  • Eat-In Kitchen
  • Hot Water Heating System

About This Home

As of June 2021

Lucrative college rental at the edge of Mount Saint Mary campus in historic Newburgh, NY. In the heart of an up and coming area, this 3 family rental with Hudson River views is set up as student housing and boasts a 10% cap rate. The current owners have the business model down to a science and will assist the new owner with learning the ropes for a successful outcome. Three units (one 4 bedroom/2 bath duplex, one 3 bedroom/1 bath and one 2 bed/2 bath (top floor). Every unit has back deck. Mechanicals have been updated all within the past 5 years or so and these units are in good shape. Leases are in place through May 31, 2022. On campus housing is limited so the market is pretty much guaranteed. Notice need to show so as not to disturb the student's studies. Expand your portfolio with this unique opportunity!

Last Agent to Sell the Property

Amy Wilhelm

Corcoran Baer & McIntosh License #10401236429 Listed on: 04/12/2021

Corcoran Baer & McIntosh

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,500

Year Built

  • Built in 1920

Lot Details

  • 3,498 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot

Parking

  • 1 Car Garage
  • On-Street Parking

Home Design

  • Brick Exterior Construction
  • Frame Construction
  • Stone Siding

Interior Spaces

  • 2,981 Sq Ft Home
  • Water Views
  • Eat-In Kitchen

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 4 Full Bathrooms

Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Schools

  • Magnet Sch Of Math Science & Design Elementary School
  • Newburgh Free Academy High School

Utilities

  • No Cooling
  • 3 Heating Zones
  • Hot Water Heating System
  • Heating System Uses Natural Gas
  • Electric Water Heater

Additional Features

  • Deck
  • Property is near public transit

Listing and Financial Details

  • Assessor Parcel Number 331100.004.000-0010-021.000/0000

Community Details

Overview

  • 3 Units

Recreation

  • Park

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,500

Year Built

Built in 1920

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential Income
  • Architectural Style: Townhouse
  • Property SubType: Multi Family
  • Hamlet: Newburgh
  • Year Built: 1920
  • Attribution Contact: 845-987-2000
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Eat-in Kitchen
  • Living Area Units: Square Feet
  • Common Walls: 2+ Common Walls
  • Total Bathrooms: 4
  • Full Bathrooms: 4
  • Basement: Full, Walk-Out Access
  • Total Bedrooms: 9
  • Living Area: 2981.00
  • Square Footage: 2981.00

Exterior Features

  • Construction Materials: Brick, Frame, Stone
  • View: Water
  • Patio and Porch Features: Deck
  • View YN: Yes

Garage/Parking

  • Attached Garage: No
  • Garage Spaces: 1.00
  • Garage: Yes
  • Parking Description: Garage, On Street

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Natural Gas, Hot Water
  • Hot Water: Electric Stand Alone
  • Heating Zones: 3
  • Sewer: Public Sewer
  • Water Source: Public

Association/Amenities

  • Community Features: Park

Condo/Co-op/Association

  • Senior Community: No

Fee Information

  • Additional Fee: No
  • Other Expense: 3953.00
  • Trash Expense: 1320.00

Schools

  • Middle School: Call Listing Agent

Lot Info

  • Lot Size Acres: 0.0800
  • Lot Size Sq Ft: 3498.00
  • Lot Size Units: Acres
  • Lot Features: Level, Sloped, Near Public Transit
  • Parcel Number: 331100.004.000-0010-021.000/0000
  • Property Attached: Yes

Rental Info

  • Hold Start Date: 2021-04-18
  • Tenant Pays: None, See Remarks

Tax Info

  • Close Date: 2021-06-29
  • Tax Annual Amount: 11500.00
  • Tax Map Number: 331100.004.000-0010-021.000/0000

Multi Family

  • Fuel Expense: 7353.00
  • Units Total: 3
  • Two Bedrooms: 1
  • Three Bedrooms: 1
  • Four Bedrooms: 1
  • Separate Electric Meters: 4
  • Separate Gas Meters: 4

MLS Schools

  • Elementary School: Magnet Sch of Math Science & Design
  • High School: Newburgh Free Academy
  • Middle School District: Newburgh

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 12, 2021
Closed on
Jun 28, 2021
Sold by
Pomarico Joseph
Bought by
Riverscapes Llc
Seller's Agent
Amy Wilhelm
Corcoran Baer & McIntosh
List Price
$450,000
Sold Price
$475,000
Premium/Discount to List
$25,000
5.56%
Current Estimated Value
$620,297

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$145,297
Avg. Annual Appreciation
6.20%

Purchase Details

Closed on
Jan 31, 2020
Sold by
Cd & J Properties Llc
Bought by
Pomarico Joseph

Purchase Details

Closed on
May 12, 2008
Sold by
Brown Charles
Bought by
Cd & J Properties Llc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Riverscapes Llc $475,000 None Available
Pomarico Joseph -- Old Republic Title
Cd & J Properties Llc $303,000 Daniel Rusk
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/29/2021 06/29/21 Sold $475,000 0.0% $159 / Sq Ft
05/13/2021 05/13/21 Pending -- -- --
04/18/2021 04/18/21 Off Market $475,000 -- --
04/12/2021 04/12/21 For Sale $450,000 -- $151 / Sq Ft
Source: OneKey® MLS

Tax History Compared to Growth

Source: Public Records

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 $17,319 $524,000 $31,300 $492,700
2023 $17,319 $524,000 $31,300 $492,700
2022 $16,229 $379,800 $14,500 $365,300
2021 $12,558 $269,200 $13,200 $256,000
2020 $10,946 $261,400 $13,200 $248,200
2019 $3,930 $216,100 $13,200 $202,900
2018 $3,930 $167,200 $13,300 $153,900
2017 $8,481 $167,200 $13,300 $153,900
2016 $9,379 $181,300 $13,300 $168,000
2015 -- $181,300 $13,300 $168,000
2014 -- $185,000 $13,300 $171,700
Source: Public Records

Agents Affiliated with this Home

  • Amy Wilhelm

    Seller's Agent in 2021

    Amy Wilhelm

    Corcoran Baer & McIntosh

    (845) 500-0059

    13 in this area

    82 Total Sales

    Amy Wilhelm
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Map

Source: OneKey® MLS

MLS Number: KEY6108125

OneKey® MLS

APN: 331100-004-000-0010-021.000-0000

New York Orange County Newburgh 12550

498 Liberty St, Newburgh, NY

Not Listed for Sale

MultiFamily

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