$4,999,000
Investment Summary
- Monthly Cash Flow
- -$26,225
- Cap Rate
- -0.2%
- Cash-on-Cash Return
- -27.4%
- Debt Coverage Ratio
- -0.04
- Internal Rate of Return (5 years)
- -22.4%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Nestled in the heart of Woodstock, this extraordinary 70+ acre estate is a rare offering of artistic heritage, architectural beauty, and serene natural surroundings. Known as The Stone House on Striebel Road, this iconic bluestone compound has stood at the crossroads of music, literature, and counterculture for over a century. Built in 1914 as a country retreat, the main Stone House features 4 bedrooms, 2 full baths, and 2 half baths, with rich period details throughout—including original carved woodwork, wide-plank floors, historic fireplaces, and Dutch doors that enhance both charm and function. One of the home's standout features is the spacious and inviting living area with brick flooring, original bluestone walls, and a dramatic wood-burning fireplace—perfect for cozy evenings or sophisticated entertaining. A gracious covered front porch offers a peaceful place to take in the natural landscape, while a deep soaking tub and light-filled meditation/yoga room provide quiet spaces for rest and renewal. In the 1920s and '30s, the home was owned by famed cartoonist John Striebel, creator of the Dixie Dugan comic strip. Over the years, its walls have echoed with the voices of Bob Dylan, Janis Joplin, Allen Ginsberg, George Harrison, and many other cultural legends. A true cornerstone of Woodstock's creative legacy, the estate was once owned by Albert Grossman, legendary music manager and founder of Bearsville Records and Studios. It was here, in 1965, that the iconic album cover for Bringing It All Back Home was photographed, capturing Bob Dylan and Sally Grossman in the home's elegant living room. Later, the home welcomed talents ranging from Johnny Cash and William Kennedy to Bjork and the Dave Matthews Band. Viking Hall, next door to the main house, offers an exceptional space designed to inspire. This stunning building features a bright and open studio area, ideal for artists, musicians, wellness practitioners, or remote work. With hand-hewn beams, loft space, French doors, and spa-like amenities—including a sauna, steam shower, and soaking tub—the space combines rustic elegance with modern comfort, perfect for creative retreats, workshops, or wellness sessions. Beyond Viking Hall, a private apartment with a stone fireplace, bedroom, and full bath once served as Albert Grossman's personal retreat, where he ran Bearsville Records. His legendary vinyl collection remains, and the lower level offers a gym area with ample storage. The estate includes the Farmhouse at Speare Road, a recently updated 4-bedroom, 2-bathroom residence. With its own private setting, this charming home is well-suited for guests, caretakers, or multi-generational living—offering flexibility for a variety of lifestyle needs. In the surrounding woods, discover a charming cabin complete with a bedroom, bathroom, and cozy kitchen. This private hideaway is ideal for long-term guests, studio rentals, or a secluded creative workspace. Both ready for a variety of uses, a spacious workshop building offers room for artistic or hands-on pursuits, while a classic barn adds rustic charm and versatile storage or studio space. Gardening enthusiasts will appreciate the sun-filled greenhouse, designed for year-round cultivation. A meditation gazebo—ideal for yoga, writing, or reflection in nature and an amphitheater complete with electricity, seating, and platform are among the estate's many distinctive features. Outdoor amenities include a heated, saline gunite pool, garden areas, spring-fed pond, seasonal mountain views, and woodland trails that offer total immersion in the natural beauty of the Catskills. This iconic Woodstock estate is two hours from NYC and in close proximity to the area's most beloved destinations. Whether inspired by its profound cultural roots or artisanal architecture, this property is a once-in-a-generation opportunity. This property is co-listed with Michelle Bergkamp, Corcoran Country Living.
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Location
Property Details
Parking
- Description: Carport
- Garage Spaces: 1
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 2
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 12
- # of Stories: 1
- Basement: Yes
- Basement Description: Full
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Rock, Stone
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Rural/Agricultural
Lot Information
- Parcel ID: 51580026.2104.110
- Lot Size: 2564377 sqft
Property Information
- Property Type: Single Family Residence
- Style: Estate
- Year Built: 1914
Tax Information
- Annual Tax: $52,767
Utilities
- Water & Sewer: Private, Well
- Heating: Baseboard, Electric, Oil, Propane, Steam
- Cooling: Ductless
Location
- County: Ulster
Listing Details
Investment Summary
- Monthly Cash Flow
- -$26,225
- Cap Rate
- -0.2%
- Cash-on-Cash Return
- -27.4%
- Debt Coverage Ratio
- -0.04
- Internal Rate of Return (5 years)
- -22.4%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $4,999,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,999,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $999,800 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $149,970 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $1,149,770 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,899 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,282 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $1.28 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,999,200 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 6.500% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $25,278 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $4,397 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $350 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $30,025 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $5,000 | $60,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$300 | -$3,600 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,700 | $56,400 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 88% | -$4,397 | -$52,767 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$350 | -$4,200 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$400 | -$4,800 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$250 | -$3,000 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$250 | -$3,000 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | n/a | n/a | n/a |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 113% | -$5,647 | -$67,767 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| -$947 | -$11,364 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$25,278 | -$303,336 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $26,225 | $314,700 |