Brownstoner Upstate: Affordability on the Hudson River
Close proximity to the Hudson River doesn’t necessarily mean you have to drop a small fortune on a house. If you know which river towns to explore for more bang for your buck, you might find yourself living in a sweet deal not far from the area’s most famous water body. This week, we’ll be…
Close proximity to the Hudson River doesn’t necessarily mean you have to drop a small fortune on a house. If you know which river towns to explore for more bang for your buck, you might find yourself living in a sweet deal not far from the area’s most famous water body. This week, we’ll be looking at four properties listed for less than $300,000, all located in Hudson River towns.
The little Ulster County town of Esopus is often overlooked for other fancier riverfront towns. But we love that it’s a hidden gem super-close to the city of Kingston (almost walking distance, practically) that sits near both the Esopus Creek and the Hudson River. It’s also a great place to bargain hunt for affordable beauties like this yellow farmhouse with a gorgeous interior. Sits on over a half-acre. Here’s the bad news: Status is “pending.” Beds: 3. Baths: 1.5. Square Feet: 1746. Lot Size: .7 acres. Est. Taxes: $4130.Â
115 Main Street, Esopus (Murphy Realty Group) GMAP
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As the years pass, real estate in the Columbia County continues to get more expensive. But you can still find a reasonably priced home if you move your search away from Warren Street. This lovely, classy Craftsman is on Aitken Avenue, a residential street off the main drag but still within two miles of the Amtrak station and waterfront park. Master bedroom is on the second floor and feels lofty with its own wood stove. Also includes detached two-car garage in the backyard. Beds: 4. Baths: 2. Square Feet: 1800. Lot Size: .13 acres. Est. Taxes: $4536.Â
16 Aitken Avenue, Hudson (Beach & Bartolo) GMAP
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We almost didn’t include this home in Cornwall-on-Hudson because the property taxes just about kill the affordability index here. Still, we can’t ignore the other perks, like the fact that it’s walking distance to both the sweet hamlet and the nearby waterfront park. Did you know that Cornwall also has a great town pool? You have to show proof of residency to use it, but problem solved if you lived in this house. Sits on about a half acre of land. Beds: 7. Beds: 1.5. Square Feet: 2576. Lot Size: .45 acres. Est. Taxes: $11,487.Â
3 River Street, Cornwall-0n-Hudson (BHHS Hudson Valley Properties) GMAP
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And finally, our most inexpensive pick this week comes from Hyde Park in Dutchess County. It’s a foreclosure that needs some fixing up, but we’re envisioning a swingin’ midcentury modern interior for this raised Ranch. Don’t let the exterior fool you. It’s bigger than it looks and includes an additional bed/bath in the basement. Beds: 4. Baths: 4. Square Feet: 1857. Lot Size: .48 acres. Est. Taxes: $6728.Â
2 Roe Drive, Hyde Park (Murphy Realty Group) GMAP
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Anyone considering buying upstate should remember that property tax practices there are different from those in the five boroughs, which are subject to different laws. The taxes listed on brokers’ websites upstate are, at best, the current ones. But looking at the Hudson house as an example, this property’s current assessment is $144,000; and the asking price is $249,000. Per NYS (outside the five boroughs of NYC), the best proof of market value is a property’s most recent sale price; and Hudson assesses at 100% of value (which is that NYS urges municipalities to do). That means that in the next revaluation of the City of Hudson, the local assessor will most likely look at the most recent sales price, and raise the assessment accordingly – to either that sales price or much closer to it. The aggregate mil rate in Hudson (including school, city and county property taxes) is 34 dollars per thousand dollars of assessment; and Hudson is scheduled for a city-wide revaluation in the next year or two. So if the local aggregate mil rate stays the same (and it could well go up), that means that if this property sells at ask, its taxes could soon rise to ($34 x 249), or $8,466.00 per year. When looking for property upstate, downstaters should research the aggregate mil rate for whatever municipality they’re considering, as well as the percent of fair market value at which that municipality purports to assess, and consider the tax burden they may well be taking on.
The photos of the Cornwall house seem pretty depressing, however the town of Cornwall is beautiful and overall, pretty great. Besides the town pool there is Storm King Art Center (in town, although it has a New Windsor GPS address), two kayak rental places, stunning riverfront park, Black Rock Forest, Storm King Mountain, Stars Hollow-like village, and highly regarded school system. Obscene taxes, though.