First-Time Find: Share the Good Life in Point Pleasant

Looking to make money from your home? You can get in on the ground floor (literally!) with this canalside cabin above New Hope.

4851 River Rd., New Hope (Point Pleasant), Pa. 18938 | TREND images via Addison Wolfe Real Estate

4851 River Rd., New Hope (Point Pleasant), Pa. 18938 | TREND images via Addison Wolfe Real Estate

Usually, the homes we feature as First-Time Finds are geared towards singles, young couples and families who want to get on the first rung of the homeownership ladder.

But maybe, just maybe, there’s someone out there who’d like to make a career out of managing property and let the home provide an income. We have the starter home for that person this week.

This well-kept cabin on River Road along the Delaware Canal in Point Pleasant contains two one-bedroom apartments, one on the street level and one on the ground floor. The home’s sloping lot means that both apartments have natural light and outdoor space.

The first-floor apartment is currently occupied by a tenant who’s living there on a month-to-month lease but would like to stay. The ground floor apartment, pictured here, is currently empty and can serve as your own starter home.

That first-floor apartment has a classic wraparound front porch, a large living room, and an equally large bedroom created when an interior wall was removed; that wall could be rebuilt to turn the first-floor apartment into a two-bedroom unit. It also has a full kitchen, full bath and access to the attic.

The downstairs unit has been recently refinished. It has a stone wood-burning fireplace, a tile-floored kitchen, a full bath with radiant heated tile floor and an outdoor patio area. The patio, in turn, opens onto a large and level backyard that extends to the canal and offers great views of the Delaware River.

Want to get up close and personal with the water? There’s a canalside dock from which you can launch a canoe or engage in a little fishing.

It’s also located in one of the most scenic parts of Bucks County, between New Hope and Frenchtown, and it’s in the highly regarded Central Bucks School District.

It’s not often that one runs across a home that’s both priced just right for a first-time buyer and helps to pay its mortgage. Talk about living the good life on the cheap!

THE FINE PRINT

BEDS: 1 in downstairs apartment, 1 (reconfigurable to 2) in upstairs apartment

BATHS: 1 in each apartment

SQUARE FEET: 760

SALE PRICE: $269,000

OTHER STUFF: This home’s price was reduced by $10,000 on Sept. 22. There’s parking for at least five cars in the rear as well as parking along the roadside. Buyers looking for an investment property should know that the downstairs apartment can also be rented out; at the recommended rental rate of $800 a month, the two units together would produce a cap rate above 5.5 percent.



4851 River Rd., New Hope, Pa. 18938 [Lorraine Gross | Addison Wolfe Real Estate]