Multi-Family on Liberty Street, Newburgh NY – SOLD!
Investing in Multi-Family Homes – Newburgh NY
Yes, The Time is NOW
Properties in the City of Newburgh are getting scooped up by investors. There are many that come from all over the county and beyond that are looking to be a part of rebuilding the inner streets of the City of Newburgh NY. This week another property is off the foreclosed list! One home at a time, and the process is well underway with many old and new smart investors learning more about how it works in our unique location. While it is not an overnight get rich quick scheme, slow and steady sets the pace. The future is optimistic. It is becoming harder these days to find a property like this one at this price point. This home sold for $46,000.
This three story, two family, brick building has great bones and even though it was sold in “as is” condition, it is worth the price. Our new owners will fix the upper apartment and renovate the lower level for a future rental. Tenants are easy to find, but our investor has secured some great tenants even before the closing. They are waiting for a few repairs so they can move in shortly. A definite win-win for everyone.
This great story is certainly not the only recent one for the City of Newburgh NY. Multi family homes are selling!
A recent uptick in sold properties in the city has many of the investors that have been on the sidelines thinking they need to jump in now. Navigating the process of foreclosures and shortsale homes is doable. Homes prices range from $15K and a total renovation to $100K for a liveable property with tenants. I see many investors come look, but those that know how to renovate or manage older homes are more successful. The City of Newburgh has a historical district and the process of fixing a home and being compliant is a bit different than the surrounding areas. My investors are savvy with this and love the challenge and the end result. Restoring these beautiful homes to an almost original state is sweet. Pride of ownership and proud to be a part of the history of Newburgh. I love that I can have a part in the process too.
Current Stats for the City of Newburgh Properties for 2014
- 31 SOLD Multi-Family 2 to 4 units so far this year
- Homes in this category averaged 130 days on market.
- Of these homes, 23 Homes Sold under $100K, 7 homes between $100 to $200,000 and 2 homes between $250 and $350,000
- 85 Active listings are currently on the market.
- Listings range in price of $13K to $389,000 for two to four unit homes.
- Larger homes are more difficult to find, but when available show some great value. 5 unit buildings that sold in the last year were a total of three homes.
- Prices ranged from $40K to $200,000. Days on market averaged 176.
- Active listings currently with more than 5 units that are priced from $165,000 to $279K price range
Number of Multi Family Homes SOLD January to September 2014
Are you interested in investment properties in the city of Newburgh NY? Maybe the time is now. Learn more about what is currently available. Let’s talk and see what could work for you too.
Search All Multi-Family Homes in the City of Newburgh New York
This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available- page 1
A complete search of multi family homes is available here. Just put in the city and price and find all investment properties available. Need more info? Just contact me directly. I live, work and play in the area. Newburgh and Orange County New York is my home. I’ll be glad to share my knowledge with you.
Investing in Newburgh NY
published by: Janis Borgueta Key Properties of the Hudson Valley in Newburgh NY. Her blog is about living, working and Real Estate in The Hudson Valley. Information here is a community service to the public. Please subscribe to this blog. When you are looking to buy a new home, Search the MLS for New Homes in Newburgh NY. You can contact Janis at (845)-527-7115 or find her on Google+