This 2-family home on 5.35 acres with amazing mountain views is so charming with its Bavarian chalet vibes! It is ideally suited either for an investor looking for a multi-family rental property. Each unit consists of 2 bedrooms and 1 full bathroom and has beautiful wood ceilings and beams (super tall vaulted ceilings in the upper unit) that add a ton of warmth throughout. The kitchens are open to the living and dining areas and have plenty of counter space for cooking and entertaining. The lower unit has sliding glass doors that open onto a covered patio and the lawn beyond while the upper unit has an expansive wrap-around deck that captures the stunning views of the mountains! The property is set far back from County Road 67 but also accessible from Fairway Dr which is a private road. It's 5.35 acres of mostly open land border the Thunderhart Golf Course on one side which makes it ideal for those who enjoy golfing as well. Located in the hamlet of Freehold in the town of Greenville (and, with low Greene County taxes!), 51 Fairway Drive is just 10 minutes to shops and restaurants (and the drive-in theater) in Greenville, Cairo, and Oak Hill (plus so much more just 25 minutes away in Catskill), 25-35 minutes to skiing in Windham and Hunter, and only 2 hours from NYC! Current tenants are paying below market rents - $850/mo (lower unit) and $950/mo (upper unit). The projected gross income for a full-time short term rental property with 75% occupancy would be close to $82,000 (25.6% cap rate) with potential for more income with just a few cosmetic updates. For a long-term unfurnished rental, it would be approximately $27,600 (7.4% cap rate) and with fewer costs and maintenance. Happy to provide more information regarding projected income and expenses to any interested parties!
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