161 W Parmenter Street

Description

Fantastic investment opportunity or live rent-free in this spacious 3-family house located in the heart of Newburgh. Each unit offers comfort and functionality. The basement unit features 2 bedrooms, a cozy living room, a kitchen, and a full bath. The 1st-floor unit boasts 3 bedrooms, living room, kitchen, and a full bath. The 2nd-floor unit offers 4 bedrooms, a spacious living room, kitchen, and a full bath. Enjoy the convenience of a fenced-in backyard, perfect for outdoor gatherings or relaxation. This property is ideally situated close to transportation, shops, dining, and more, making it an attractive option for tenants and homeowners alike. The lower level unit (2 bed) is currently owner occupied, the first floor 3 bedroom ($1600) and second floor 4 bedroom ($1650) are month to month. Modest market rent of $1600, $1800 and $2000 respectively, the property would generate $65,000 rent roll/year. and an NOI of approx $50,000 - an 11.5% cap rate! Don miss out on this unique opportunity to invest in or reside in a versatile property.