122 S Cherry Street, Poughkeepsie, NY, 12601 | $240,000

Triplex investment property located at 122 S Cherry Street in the City of Poughkeepsie, offering a redevelopment or restoration opportunity in a convenient and centrally located area. The building has sustained fire damage and is being sold in its current condition, presenting potential for investors, builders, or buyers seeking a value-add project. Ideally situated near downtown Poughkeepsie, the property is just minutes from the Poughkeepsie Metro-North station with direct service to Grand Central Terminal, as well as easy access to Route 9, the Mid-Hudson Bridge, the Taconic State Parkway, and Interstate 84 for convenient regional travel. Nearby points of interest include the Walkway Over the Hudson, Marist College, Vassar College, Dutchess Community College, the Culinary Institute of America, and the vibrant waterfront district along the Hudson River. Residents can also enjoy shopping and dining at the Poughkeepsie Galleria, local restaurants, farmers markets, and numerous parks and recreational spaces throughout the Hudson Valley. A centrally located property with strong future potential in one of Dutchess County’s most established rental markets. Buyer to perform their own due diligence regarding condition, permits, and intended use. Nearby points of interest include the Walkway Over the Hudson, Marist College, Vassar College, Dutchess Community College, the Culinary Institute of America, and the vibrant waterfront district along the Hudson River. Residents can also enjoy shopping and dining at the Poughkeepsie Galleria, local restaurants, farmers markets, and numerous parks and recreational spaces throughout the Hudson Valley. A centrally located income property with excellent accessibility and long-term potential in one of Dutchess County’s most established rental markets.

Features

  • Bedrooms: 7
  • Baths: 3 full
  • Style: Triplex
  • Year Built: 1910
  • Garage: 1-car
  • Heating: Hot Air, Natural Gas
  • Cooling: None
  • Basement: Full, Walk-Out Access
  • Acreage: 0.14
  • Est. Taxes: $12,454
  • Lot Desc: Level, Near Public Transit, Near School, Near Shops
  • Elem. School: G W Krieger School
  • Middle School: Poughkeepsie Middle School
  • High School: Poughkeepsie High School
  • School District: Poughkeepsie
  • MLS#: 992410
  • Days on Market: 3 days
  • Website: https://www.raveis.com
    /prop/992410/122scherrystreet_poughkeepsie_ny?source=qrflyer
Listing information has been assembled from various sources of varying degrees of reliability. Any information critical to the buying decision should be independently verified.Listing courtesy of Compass Greater NY, LLC   Phone: 914-752-8763

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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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122 S Cherry Street, Poughkeepsie, NY, 12601

$240,000

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 $192,000 $192,000 $192,000
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 6.436% 6.603% 5.952%
Monthly Tax Payment $1,038 $1,038 $1,038
H/O Insurance Payment $75 $75 $75
Initial Principal & Interest Pmt $1,167 $1,212 $1,594
Total Monthly Payment $2,280 $2,325 $2,707

* 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.