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Low Impact Landlording in West Village Will Cost You $205K

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The West Village is heating up, and this property puts you right in the thick of things. Close to Red Hook Coffee, Craftwork and Sister Pie, this 1911-built duplex has an architectural style that suggests elements of both beaux arts and four square. The public rooms in both units are large and bright, with tall ceilings and many windows. The bedrooms take backstage a bit, but also offer a decent amount of space.

The owner's unit in this 2-unit offering is a cheerful space with a large, smartly-organized kitchen, two bedrooms and a bath. The living room and dining room are both big and inviting, and the picture rail in the dining room is an especially nice touch. The kitchen feels cheerful, though it could be both cheerful and fabulous with a few smart remodeling choices. A new oven, maybe even a cool antique, and a dishwasher would go a long way here, as would solid surface counters and upgraded cabinetry. The owners added extra counter space via wooden shelving, and it's custom touches like that that make the space feel like a permanent home, as opposed to half a nice rental property.

The rental unit doesn't quite measure up to the owner's space. It has hardwood floors and an identical layout to the other unit, but the kitchen is very spare and all the "apartment" finishes (cheap blinds, stock cabinets, utilitarian bath) make the place show poorly, especially given that the unit was half vacant when photographed, and hadn't been cleaned. Um, unless you count the many containers of Lysol wipes visible in these images. Not everyone wants to hire a stager or move their own things into a vacant place, but taking all the debris out and cleaning seem like solid plans when you want $200K for a property.

Despite the situation in the second unit, this property has real potential. West Village rentals are going for $600 - $1000 a month, so if your mortgage really is the estimated $700 a month, you could live in one unit, rent the other and make a small profit for your trouble.

Owner's Unit:

Vacant Unit Photos:

·1734 Van Dyke [Zillow]