About this home

A rare six-unit asset in one of Kingston's most opportunistic zoning transects. 17 Downs Street delivers a strong 8.19 cap rate on a 625,000 ask while sitting in a T5-Neighborhood (T5N) zone built for exactly the kind of upside that's getting harder to find in the Hudson Valley. The unit mix is purpose-built for flexibility: two 2-bedrooms, two 1-bedrooms, and two studios, a spread that lets an owner play multiple tenant profiles -- long-term residential stability in the larger units, premium furnished or transitional rents in the smaller ones. Here's where T5N earns its keep. Kingston's form-based code reserves its full short-term-rental (STR-F) permit type for T4 and T5 transects only -- 17 Downs sits in that eligible band. The same zone is written to encourage a diverse mix of residential building types, general retail, and small to medium-sized neighborhood-supporting commercial uses, putting boutique lodging, live-work, and ground-floor hospitality concepts genuinely on the table for a creative buyer. In a walkable, restaurant-dense city that has become a legitimate Hudson Valley destination, that hospitality optionality is the differentiator -- most multifamily product can't touch it. Built in 1950, with the bones and scale that make Kingston's housing stock so livable, this is a clean opportunity with a second gear for an operator who wants to lean into Kingston's visitor economy. Contact listing agent for offering memorandum and financials.

Facts and features

Schools

• Kingston High School

  high · 9-12 · 0.6 mi

  4

• Abundant Life Academy

  elementary · 1-9 · 0.4 mi

• George Washington School

  elementary · K-4 · 0.6 mi

  2

• J Watson Bailey Middle School

  elementary · 5-8 · 1.3 mi

  4

• St Joseph School

  elementary · K-8 · 0.6 mi

• Good Shepherd School

  elementary · PK-8 · 0.9 mi

Price history

• Oct 14, 2026 · Price Changed$595,000
• Jun 8, 2026 · Listed$625,000

Tax history

• 2021$13,446 tax
• 2020$13,446 tax · $265,000 assessed
• 2019$13,459 tax · $265,000 assessed
• 2018$12,570 tax · $241,000 assessed
• 2017$11,989 tax · $219,000 assessed
• 2016$12,112 tax · $219,000 assessed
• 2015$12,030 tax · $219,000 assessed
• 2014$11,717 tax · $219,000 assessed

Home value

$619,000

• Collateral Analytics$619,000

Where it is