UPSTATE JANE: Fixer Upper in Bearsville NY with potential income property 119K

I have been watching this property for a while now…(over a year) and the price keeps going down, it is now at 119K!~

I have peeked around and there are clearly reasons for the price tag. It is a true fixer upper. It appears to have possible foundation problem mainly. Also the siding would have to be replaced, along with  I am sure potential mold problems. It does however have an amazing fireplace, vaulted ceilings, a dining room, grand staircase, and is on a great convenient piece of property with an outbuilding that could easily be converted to an income unit with the addition of a bathroom. (It has a kitchen already) So if you are really looking for a “fixer upper”, and one with potential for income- this may be it.  For full listing click here

Beds:2 Bed  Baths:1 Bath   House Size:1,326 Sq Ft   Lot Size:0.68 Acres

About Megan

Designer, blogger, and former Manhattanite turned Upstater

Posted on January 26, 2012, in $100000 to $199000, Ulster County, Uncategorized, Upstate Jane, Woodstock and tagged . Bookmark the permalink. 4 Comments.

  1. Unfortunately zoning (and other) issues prevent the outbuilding from being used as a dwelling unit without jumping through substantial hoops..and even so, no guarantees.

    Not so “easily converted to an income unit”….

  2. Too bad, so you looked into this property already? I wonder if this is why it sat on the market a while. Do you have any other information on this property then? I still thought it seemed really great for a person who wanted a studio even to work in- but there could be other issues with it.

    Any insight you have on it would be appreciated!

  3. Wow, that kitchen wallpaper…

  4. I know, amazing. 🙂

    Even if the secondary unit is hard to convert to an income property because of zoning (I don’t have further details regarding this exactly) It is still has potential to be a great weekend house for someone who wants a studio space, writing space etc.

    I still am unsure about what the REAL problems are with it, but would be interesting in learning at this price.

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