Downs Street Duplex

About The Property

Looking to start or expand your real estate investing career? 172 Downs Street is the perfect property to round out your portfolio. Located in the heart of Kingston’s booming Midtown, this two unit home is a proven money maker with solid tenants in place.

Built in 1915, the current owners have made significant updates to the building, including a new roof, new TimberTech front porch, bathroom renovation in the downstairs unit, and new carpet in the upstairs unit.

Each unit is 780 square feet, with two bedrooms and one bathroom. The spacious backyard is ripe for landscaping to add value to the property. Apartment 1 rents at $1,380 monthly, and Apartment 2 rents at $1490 monthly, for a total monthly rent of $2,870, $34,400 annually. With low expenses, as tenants pay their own utilities, this is an estimated 8% cap rate at the asking price of $330,000. Detailed financial information is available in the extra info sheet linked from this page.

Midtown continues to grow, with new businesses lining Broadway and the surrounding streets. Rental units are in high demand, and while these tenants are in good standing, market rate rents could improve the property’s cash flow and cap rate significantly.

Both units are occupied, proof of funds required for showing. Advance notice required. Showing times: Sundays 12-4pm

Virtual Tour Here

Listing Agent: Harry McNamara, 303.619.8154