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$ 3,400,000
Est. payment | /mo
98.77 Acres Lot
$ 3,400,000
Est. payment | /mo
98.77 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1011237
HOA Y/N No
Rental Info No
Annual Tax Amount $95,779
Lot Size 98.770 Acres
Acres 98.77
Source onekey2
Property Description
Exceptional investment and development opportunity offering nearly 100 acres across two contiguous parcels with six existing single-family homes, including two waterfront residences situated on a private 5-acre lake. Owned by the same family since 2001, the property was privately occupied until 2016 and is now fully leased, providing immediate income with significant upside potential. All tenants are currently on month-to-month leases, and rents are believed to be below current market rates. The portfolio includes three 3-bedroom homes, two 5-bedroom homes, and one 6-bedroom home. Current gross rental income is approximately $16,150 per month, with rents remaining largely unchanged for many years. Additional features include shared well water and septic systems, a private dead-end road setting, and substantial undeveloped acreage. The property is currently approved for single-family residential use and presents a rare opportunity for investors, developers, builders, or end users seeking a private compound, income-producing asset, or future development potential. Buyers are encouraged to conduct their own due diligence regarding zoning, subdivision possibilities, and development opportunities.
Location
State NY
County Putnam County
Interior
Fireplace No
Exterior
Utilities Available Electricity Connected, Underground Utilities
View Lake
Building
Sewer Shared Septic
Water Shared Well
Schools
Elementary Schools Kent Elementary
Middle Schools George Fischer Middle School
High Schools Carmel
School District Carmel
Others
Senior Community No
Special Listing Condition None
Listed by Julia B Fee Sothebys Int. Rlty • Sandra O. Rooney
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "