Family old Vacation Home for Sale

[Nyboy]

http://www.estately.com/listings/info/20-north-woodland-circle My parents owned this house 40 years ago. Planing on looking at it Sunday. Thinking of investment rental

 

[ninnymary]

That is such a cute house and I can't believe the price! I also love the setting. Sounds so cheap to me when I'm used to seeing 2bedroom, 1 bath houses here for $500,000. Buy it Nyboy.

Mary

 

[bobm]

Looking at this property purely as an investment ... potentially very high cost of ownership for repair/ replacemt of, heating, building improvement, insulation, lighting, plumbing, etc. looking at other properties for sale in the area ... for best return on investment would be a tear down and rebuild. as repair costs would be the same as a rebuild. Offer half or less the listed price as the value is in the lot.

 

[journey11]

Would you rent it as a vacation home, or is there much tourism in the area? It's an adorable place and the wooded setting is just beautiful.

 

[majorcatfish]

very nice house.....

 

[Nyboy]

I would rent as vacation home. NYC is 90 minutes away, no one wants to be in city July and Aug. Mary my parents sold it for $25,000 in late 70s maybe early 80s

 

[journey11]

A week's rental fee would pay a couple months of mortgage (given the low price tag.) If you think it would rent out a couple months of the the year, it would more than pay you back and cover any repairs/maintenance. Is there good hiking or fishing or anything interesting going on nearby?

I'm sure the sentimental value is important to you too. I think it's a very cute house. If it didn't do well as a vacation home, I'm sure you'd have no trouble renting it as a residence either.

 

[Nyboy]

Lots of fishing and hiking. Have not been up that way in years. Going to spend day there Sun. A friend is interested in going in as partners. Mortgage split by 2 would be about same as dinner in good restaurant in NYC.

 

[majorcatfish]

just noticed that you found something not on craigslist.. i am impressed

 

[so lucky]

Nyboy, is it in bad physical repair? I don't understand why the price is so low, since it sold for half of that 40 years ago. I would think, the way other properties have increased in value, that it should be closer to 100 thousand. Septic system up to code? wiring or plumbing need to be replaced?
Cool looking place, but go carefully. It would be great to have it again.