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36 Gina Lane
Mongaup Valley, NY

36 Gina Lane

$439,500
3 bd • 3 ba • 2,074 sf

This analysis was generated by artificial intelligence on 1/21/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$439,500

Price/Sq.Ft

$212

Year Built

1989

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This property offers excellent value at $211.91/sqft, which is approximately 20% below the average for similar homes in Mongaup Valley. The spacious 2,074 sqft layout is about 15% larger than the typical 3-bedroom home in the area. Recent upgrades include a new roof (estimated $15,000-$20,000 value) and fully finished basement with new flooring, ceiling, and LED lighting (estimated $30,000-$40,000 value). The property sits on over an acre of land, providing privacy and potential for expansion. The open floor plan, hardwood floors, and custom features like the butcher block kitchen island add to its appeal. The home's location near popular attractions like Bethel Woods and Resorts World Casino enhances its potential as a vacation rental, with estimated nightly rates ranging from $200-$300 during peak seasons.

The Bad

The property has been on the market for 159 days, which is significantly longer than the average of 60-90 days for the area, suggesting potential pricing or condition issues. The electric baseboard heating and wall/window AC units are less efficient than modern HVAC systems, potentially leading to higher utility costs. The attached 1-car garage may be limiting for some buyers, as many homes in this price range offer 2-car garages. The home's age (built in 1989) means some systems and appliances may be nearing the end of their lifespan, potentially requiring updates in the near future.

The Ugly

The property's rural location means limited access to public utilities. The private septic system, while large at 1000 gallons, will require regular maintenance (estimated $300-$500 every 3-5 years). The reliance on electric heating can lead to high winter utility bills, potentially $300-$500 per month during peak season. The property's location in Sullivan County may expose it to higher property tax rates, which have been increasing annually. The local schools have low ratings (2-3 out of 10), which could impact long-term property value and appeal to families with children.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for buyers seeking a spacious second home or vacation rental in a peaceful, rural setting. It's well-suited for nature enthusiasts and those who enjoy outdoor activities, given its proximity to hiking trails and recreational areas. The fully furnished status and turnkey condition make it perfect for investors looking to enter the short-term rental market, with potential gross annual rental income of $40,000-$50,000 based on local vacation rental rates. The property would also appeal to remote workers or retirees looking for a quiet retreat with ample space for hobbies or entertaining.

Not For

This property is not suitable for buyers who prioritize walkability or easy access to urban amenities. The rural location and limited public transportation make it impractical for those who need to commute daily to major employment centers. Families with school-age children may find the low-rated local schools challenging. The property may not be ideal for those seeking the latest in energy efficiency or smart home technology, as it lacks modern HVAC systems and may require upgrades to meet current standards.
Demographics
Area Median Income

$0

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Risk Assessment

Risk Analysis

The rural location exposes the property to potential wildlife encounters and increased maintenance needs for the large lot. The septic system, while large, will require regular inspections and potential repairs as it ages. The electric heating system may need upgrading to improve energy efficiency, a potential $10,000-$15,000 expense. The local real estate market in Mongaup Valley can be volatile, with potential for extended periods of low liquidity. Climate change impacts, including increased frequency of severe storms, could affect the property's wooded area and increase insurance costs over time. The popularity of short-term rentals in the area could lead to potential regulatory changes, impacting the property's investment potential.
Insurance
Annual Cost

$1,582

$132 per month

Financials

Monthly Costs

Price History

Property Taxes

$0
2023 Tax Assessment
NaN%from previous year
Assessed Value$131,700
Tax Rate0.00%

Location & Comparables

Subject Property
Comparable Sales
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Frequently Asked Questions

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