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17 Downs Street, Kingston, NY, 12401 | $625,000
A rare six-unit asset in one of Kingston's most opportunistic zoning transects. 17 Downs Street delivers a strong 8. 19 cap rate on a 625, 000 ask while sitting in a T5-Neighborhood (T5N) zone built for exactly the kind of upside that's getting harder to find in the Hudson Valley.
The unit mix is purpose-built for flexibility: two 2-bedrooms, two 1-bedrooms, and two studios, a spread that lets an owner play multiple tenant profiles -- long-term residential stability in the larger units, premium furnished or transitional rents in the smaller ones.
Here's where T5N earns its keep. Kingston's form-based code reserves its full short-term-rental (STR-F) permit type for T4 and T5 transects only -- 17 Downs sits in that eligible band. The same zone is written to encourage a diverse mix of residential building types, general retail, and small to medium-sized neighborhood-supporting commercial uses, putting boutique lodging, live-work, and ground-floor hospitality concepts genuinely on the table for a creative buyer. In a walkable, restaurant-dense city that has become a legitimate Hudson Valley destination, that hospitality optionality is the differentiator -- most multifamily product can't touch it.
Built in 1950, with the bones and scale that make Kingston's housing stock so livable, this is a clean opportunity with a second gear for an operator who wants to lean into Kingston's visitor economy.
Features
- Bedrooms: 8
- Units: 6
- Year Built: 1950
- Acreage: 0.15
- Est. Taxes: $16,462
- School District: Kingston
- MLS#: 20263090
- Days on Market: 1 day
- Website: https://www.raveis.com
/prop/20263090/17downsstreet_kingston_ny?source=qrflyer
Information is deemed reliable but is not guaranteed accurate by the MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Source: Hudson Valley Catskills RegionListing courtesy of Hudson Modern
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888.699.8876
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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 81725
203.980.8025
Frank.Kolb@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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17 Downs Street, Kingston, NY, 12401
$625,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Kolb
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** | 6.125% | 6.490% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.424% | 6.640% | 5.952% |
| Monthly Tax Payment | $1,372 | $1,372 | $1,372 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,038 | $3,157 | $4,152 |
| Total Monthly Payment | $4,502 | $4,621 | $5,616 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535