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$455,000

For Sale - Active
2 Gerri Ct, Wallkill, NY 12589
3 Beds
3 Baths
2,127 Square Feet
0.60 Acres Lot
Built in 1986
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Jul 30, 2025 at 03:39AM

Investment Summary


Monthly Cash Flow
-$719
Cap Rate
4.2%
Cash-on-Cash Return
-8.2%
Debt Coverage Ratio
0.69
Internal Rate of Return (5 years)
-4.0%

Property Description


0.60 Acres Lot
Built in 1986
For Sale - Active
Units n/a

Charming Colonial Near Chadwick Lake – Wallkill Schools Welcome to this classic Colonial nestled on over half an acre in the perfectly located near scenic Chadwick Lake. Set within the desirable Wallkill School District, this home offers an excellent opportunity for buyers looking to customize and add their own personal touch. Step inside to find a traditional layout featuring spacious living and dining areas, a large eat-in kitchen, and generous natural light throughout. Upstairs, the primary bedroom includes an en-suite bathroom, while two additional bedrooms share a full hall bath—ideal for family living or guests. While the home does need some updating, its solid bones, charming curb appeal, and unbeatable location make it a fantastic value with great potential. Enjoy the peaceful setting with mature trees, a level backyard perfect for entertaining or gardening, and easy access to local parks, shops, schools, and commuter routes. Don’t miss this opportunity to own a well-located home with room to grow. Bring your vision and make it your own!

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Location


Property Details


Parking

  • Description: Attached Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full, Unfinished

Exterior Features

  • Exterior Walls Materials: Wood
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 33460017192
  • Lot Size: 26250 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Colonial
  • Year Built: 1986

Tax Information

  • Annual Tax: $10,824

Utilities

  • Water & Sewer: Private, Well
  • Heating: Baseboard
  • Cooling: None

Location

  • County: Orange

Listing Details


Listed by:
Steven Esposito
HomeSmart Homes & Estates
(845) 728-1618

Source:
OneKey MLS
MLS#: 880485
OneKey MLS

Investment Summary


Monthly Cash Flow
-$719
Cap Rate
4.2%
Cash-on-Cash Return
-8.2%
Debt Coverage Ratio
0.69
Internal Rate of Return (5 years)
-4.0%

Purchase Details

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Purchase price:
$455,000
Amount financed:
-$364,000
Down payment:
$91,000
Closing costs:
$13,650
Rehab costs:
$0
Initial cash invested:
$104,650
Square feet:
2,127
Cost per square foot:
$214
Monthly rent per square foot:
$1.69

Financing Details

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Loan amount:
$364,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.500%
Principal & interest:
$2,301
Property tax:
$902
Insurance:
$252
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,455

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,600 $43,200
Vacancy loss: (6%)
6% -$216 -$2,592
Operating income:
$3,384 $40,608

Operating Expenses


% Rent Monthly Yearly
Property taxes: (25%)
25%-$902-$10,824
Insurance: (7%)
7%-$252-$3,024
Property management: (8%)
8%-$288-$3,456
Repairs & maintenance: (5%)
5%-$180-$2,160
Capital expenditures: (5%)
5%-$180-$2,160
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (50%)
50%-$1,802-$21,624

Cash Flow


Monthly Yearly
Net operating income:
$1,582 $18,984
Mortgage payments:
-$2,301 -$27,612
Cash flow:
$719 $8,628