Located in the heart of the Hudson Valley’s most vibrant arts community, **Beacon**, 122 Washington Avenue presents an exceptional opportunity to own a character-filled home with remarkable flexibility, income potential, and expansion upside. Originally built in the early 20th century, this charming residence blends classic Beacon architecture with thoughtfully adapted living spaces designed for modern lifestyles. The home offers an efficient footprint above grade, complemented by additional finished areas that dramatically enhance functionality and livability. One of the property’s most compelling features is the beautifully executed walk-out basement. Bathed in natural light and offering direct access to the outdoors, this level functions as far more than auxiliary space. Ideal for extended living, guest quarters, recreation, or creative use, the walk-out design creates a seamless indoor-outdoor connection rarely found in homes of this scale. The layout lends itself perfectly to a home office, wellness studio, or potential accessory suite, depending on a buyer’s vision. The backyard is equally impressive — spacious, private, and highly usable. Whether envisioned as an entertainer’s retreat, garden oasis, or play space, the lot provides room to create meaningful outdoor living environments. With Beacon’s natural beauty as a backdrop, the yard invites fire-pit gatherings, alfresco dining, or quiet mornings surrounded by greenery. Adding even greater versatility is the detached garage, which has been converted into a studio space. This structure is a true asset — ideal for artists, musicians, remote professionals, or anyone seeking a dedicated creative environment separate from the main home. It also presents compelling possibilities for guest accommodations or income generation, subject to local approvals. Beyond its current livability, the property’s long-term value lies in its expansion potential. Notably, just three doors down, a comparable home underwent a full second-story addition — a transformation that significantly increased both living space and market value, ultimately achieving an extraordinary sale price. This nearby precedent provides a powerful blueprint for what may be achievable at 122 Washington Avenue. For buyers with vision, the upside is substantial. The location further enhances the investment profile. Washington Avenue sits moments from Beacon’s celebrated Main Street corridor, known for its galleries, restaurants, boutiques, and Metro-North access, making it a favorite among weekenders and full-time residents alike. In summary, 122 Washington Avenue is more than a single-family home — it is a flexible live/work compound with expansion pathways, creative spaces, and strong neighborhood appreciation trends. With its walk-out lower level, studio conversion, generous yard, and proven redevelopment precedent nearby, the property offers enormous potential for both lifestyle enhancement and long-term value growth.
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$625,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $500,000 | $500,000 | $500,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.250% | 6.490% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.474% | 6.640% | 5.972% |
| Monthly Tax Payment | $1,035 | $1,035 | $1,035 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,079 | $3,157 | $4,152 |
| Total Monthly Payment | $4,206 | $4,284 | $5,279 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.