I drove for countless hours yesterday just to look at three properties. I’d like to share two of them with you because I’m passing on them. The third one is a possibility so that I’m keeping to myself for now.
The Staatsburg 1940 cottage (above) is listed at $74,500. It’s well worth it. The listing says it needs work but honestly, I don’t see it needing anything more than some updating and a paint job. If you’re unfamiliar with Staatsburg, that’s the area north of Hyde Park and south of Rhinebeck. Not bad, huh?
So why am I passing on it? Well, the 2 bedroom, 1 bath bungalow is only 691 square feet. Although I did want a small, easy project to work on, I don’t believe that I can make a killing on this house as an investment because of the size and location. It’s more local than weekender, not that there’s anything wrong with that.
If I lived in the area and didn’t have to drive 2 hours to work on the house and if I had cash that I wasn’t going to miss while I’m waiting to sell, it would be worth doing.
Anyway, as you can see, it’s a cute little house. For $74,500, how can you go wrong? Especially with that awesome wallpaper!
This bank owned Red Hook house is listed at $84,500. It’s on a not-so-busy road across the street from a lake. There are some trailers and multiple-pick-up-trucks-in-the-driveway households nearby. Yeah, so I’m a city snob. So be it.
That didn’t bother me so much. One problem is the flip job. The guy lost his house due to some bad decisions (I got some background from a neighbor up the road.) so I don’t want to add insult to injury by knocking his renovation, but some flip jobs just scream Home Depot and this is one of them. The house was built in 1912. Personally, I’d rather restore a beat up 1912 home.
Don’t know if you can see from the photo but this is new parquet tile over what looks like a decent oak floor.
Since I’m a recycling maven, I reaalllly hate to renovate an already renovated property. I’m sure this stuff can be donated, but it bothers me to rip out new work. So that’s why this is a pass.
Well, there is one more thing. After seeing this, I left without going down to the basement. I don’t know what it’s from but I didn’t want to encounter it in the house so I ran out. I did look in the basement and saw mold and a water line on the wall.
Don’t know how/if the water problem can be remedied, but hey, the house is $84,500 and the upstairs is clean and livable.