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$625,000

For Sale - Active
113 Hone St, Kingston, NY 12401
5 Beds
0 Baths
0 Square Feet
0.09 Acres Lot
Built in 1888
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: Jun 08, 2025 at 03:17AM

Investment Summary


Monthly Cash Flow
-$2,605
Cap Rate
1.1%
Cash-on-Cash Return
-21.7%
Debt Coverage Ratio
0.18
Internal Rate of Return (5 years)
-17.0%

Property Description


0.09 Acres Lot
Built in 1888
For Sale - Active
Units n/a

This beautifully maintained three-family property offers a unique opportunity in one of Kingston’s most desirable neighborhoods. A perfect blend of modern upgrades and timeless character, it’s ideal for investors or owner-occupants seeking both income and lifestyle. Each unit has been thoughtfully updated with hardwood floors and tasteful finishes that enhance the home’s original charm. The property features a new on-demand heating and hot water system for energy efficiency and cost savings. A private driveway and one-car garage provide off-street parking, and Bilco doors offer easy access to the basement. Current rental status includes a leased first-floor unit with guaranteed income through April 2026, a flexible month-to-month lease on the second floor, and a fully renovated, vacant basement unit ready for a new tenant or personal use. Located in the vibrant Rondout District, this home is just a short walk to the waterfront, restaurants, cafes, galleries, and boutique shops along The Strand. With strong rental potential and room for future value, this is a rare opportunity to own in a high-demand Kingston neighborhood. Schedule your private showing today.

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Location


Property Details


Parking

  • Description: Detached Garage
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Total): 0.0

Interior Features

  • # of Stories: 3
  • Basement: Yes
  • Basement Description: Finished, Walk-Out Access

Exterior Features

  • Exterior Walls Materials: Brick

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Triplex

Lot Information

  • Parcel ID: 51080056.42512
  • Lot Size: 3735 sqft

Property Information

  • Property Type: Triplex
  • Year Built: 1888

Tax Information

  • Annual Tax: $14,044

Utilities

  • Water & Sewer: Public
  • Heating: Baseboard, Radiant
  • Cooling: None

Location

  • County: Ulster

Listing Details


Listed by:
Martin Krakower
eXp Realty
(888) 276-0630

Source:
OneKey MLS
MLS#: 839305
OneKey MLS

Investment Summary


Monthly Cash Flow
-$2,605
Cap Rate
1.1%
Cash-on-Cash Return
-21.7%
Debt Coverage Ratio
0.18
Internal Rate of Return (5 years)
-17.0%

Purchase Details

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Purchase price:
$625,000
Amount financed:
-$500,000
Down payment:
$125,000
Closing costs:
$18,750
Rehab costs:
$0
Initial cash invested:
$143,750
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$500,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.500%
Principal & interest:
$3,160
Property tax:
$1,170
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,505

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (47%)
47%-$1,170-$14,045
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (72%)
72%-$1,795-$21,545

Cash Flow


Monthly Yearly
Net operating income:
$555 $6,660
Mortgage payments:
-$3,160 -$37,920
Cash flow:
$2,605 $31,260