About This Home

This 0-bedroom, 0-bathroom residential multi family at 42 Island Road in Phoenix, NY is listed for $465,000. Built in 1967, on a 7.00 acres lot.

Key Features

Built in 1967
7.00 acre lot

Property Details

1967

Listing Description

Evergreen Estates, 42 Island Rd, Phoenix, is an established 11-unit mobile home park on about 7 acres, dating to 1967. Ten of 11 units are occupied: two lots rent at $450/mo, seven at $381/mo, and one rental home brings in $721/mo, for a current gross of $4,288/mo ($51,456/yr).

Tenants pay all utilities. A 3% lot rent increase is planned for March 2027, and one vacant home offers value-add potential. At $465,000, the gross rent multiplier is about 9.0. An income-producing community for investors seeking steady returns, within reach of the Syracuse-area Micron development corridor. Rent roll and financials available to qualified buyers. Offered at $465,000.

Monthly Cost Estimate

$2,487/mo

20% down · 6.5% · 30 years

Principal$336

Interest$2,015

Insurance$136

Estimates only. Actual payments may vary.

Location

42 Island Road

Phoenix, NY 13135

Questions & Answers

This 0-bedroom, 0-bathroom residential multi family at 42 Island Road is listed at $465,000. The estimated monthly payment is $2,487 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1967, 7.00 acre lot.

This property is listed by Jonathan Gardner.

Jonathan Gardner

Agent at IRE INVESTMENTS

42 Island Road, Phoenix, NY 13135