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Discover the potential of 506 Berea Road, a unique real estate opportunity located in the scenic town of Montgomery New York. This property is hitting the market for the first time in over forty years, having been held by the same owner since 1982. For buyers searching for a true Hudson Valley fixer upper or a rewarding investment property in Orange County, this ranch style home offers the perfect canvas to create something spectacular. Situated on a generous 1. 3 acre lot, this 1, 137 square foot home features 2 bedrooms and 1 bathroom. The home includes a 1 car attached garage, providing convenient parking and additional storage options. Built on a solid slab foundation, this single level layout maximizes simplicity and accessibility. The standout feature of this property is its expansive, flat, and freshly maintained yard, which provides ample space for gardening, outdoor recreation, or future property expansions. Surrounded by the natural beauty of the region, the location offers a peaceful country setting while keeping you closely connected to local regional hubs. Commuters and frequent travelers will appreciate the exceptional convenience of this geographic location. The property is positioned just 4 miles from Route 84, 6 miles from Route 87, and a quick 5 miles from New York Stewart International Airport. This proximity makes regional travel and daily commuting incredibly seamless while keeping the home tucked away from traffic noise. The home is located within the highly desirable Valley Central School District, adding significant long term value to the property. While the house requires interior updating and modern renovations, it provides a solid foundation for your vision. The roof is in good condition with no known leaks, and there are no known major structural or system defects, allowing you or your contractor to focus primarily on aesthetic transformations and modern upgrades. Because the home retains its original 1980s condition, it will not qualify for FHA or VA financing. This property is ideal for cash buyers, conventional financing, or renovation loans. Montgomery NY real estate is highly sought after for its historic charm and proximity to major commuter routes. Living at 506 Berea Road means you can enjoy a quiet lifestyle while benefiting from quick access to nearby highways, local shops, and Hudson Valley attractions. Whether you are looking to renovate, add to your investment portfolio, or build equity in a custom home, this property represents an incredible opportunity. Schedule a viewing today to explore the possibilities at 506 Berea Road and take the first step toward your next Hudson Valley renovation project.
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Our Executive Mortgage Banker:
$229,900
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
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $183,920 | $183,920 | $183,920 |
| 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 | $454 | $454 | $454 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,132 | $1,161 | $1,527 |
| Total Monthly Payment | $1,661 | $1,690 | $2,056 |
* 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.