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89 5th Avenue, Newburgh, NY, 12550 | $460,000
Incredible Investment & Development Opportunity! Step back in time with this charming 1800s Colonial situated on a beautiful 3. 1-acre parcel offering endless possibilities. This home features 3 bedrooms, 1. 5 bathrooms, and a spacious detached two-car garage with impressive 12-foot ceiling, perfect for storage, a workshop, or hobby space. What truly sets this property apart is its exceptional potential. A proposed subdivision for four additional building lots is nearly completed, creating a rare opportunity for investors, developers, or anyone looking to maximize future value. With an existing tenant already in place, buyers may benefit from immediate rental income while exploring future development opportunities. Enjoy the best of both worlds, peaceful country living with convenient access to parks, shopping, restaurants, schools, and major commuter routes. The picturesque setting, mature trees, and expansive acreage make this a truly special property. Whether you're looking for an investment property, development opportunity, or a charming historic home with room to grow, this unique offering deserves your attention. Long term tenant would love to stay and continue renting. PLEASE do NOT drive up the driveway without a confirmed appointment with a Licensed Agent. Thank you.
Features
- Rooms: 5
- Bedrooms: 3
- Baths: 1 full / 1 half
- Laundry: In Kitchen
- Style: Colonial
- Year Built: 1847
- Garage: 2-car
- Heating: Hot Water, Oil, See Remarks
- Cooling: None
- Basement: Bilco Door(s), Unfinished
- Approx Sq. Feet: 1,336
- Acreage: 3.1
- Est. Taxes: $4,510
- Lot Desc: Cleared, Corners Marked, Front Yard, Near Shops, Rolling Slope, See Remarks, Split Possible
- Elem. School: Newburgh
- Middle School: Newburgh
- High School: Newburgh Free Academy
- School District: Newburgh
- Appliances: Gas Range, Refrigerator
- MLS#: 1010502
- Days on Market: 2 days
- Website: https://www.raveis.com
/prop/1010502/895thavenue_newburgh_ny?source=qrflyer
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
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
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
89 5th Avenue, Newburgh, NY, 12550
$460,000
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 | $368,000 | $368,000 | $368,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.990% | 6.490% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.370% | 6.603% | 5.952% |
| Monthly Tax Payment | $376 | $376 | $376 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $2,204 | $2,324 | $3,056 |
| Total Monthly Payment | $2,655 | $2,775 | $3,507 |
* 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