Watercrest Drive

Located in the northwest corner of Delaware County, New York, on Watercrest Drive, this development opportunity is on the beautiful East Sidney Lake. Our plan is to start with two Cottage ADUs and later build a Dogtrot once the property begins generating income. This development is approximately a 3-hour drive from New York City.

Acres: 6.54
Total Cost: $808,800
Primary Use: Rental
Value Created: $242,350
Standards: Dogtrot / Cottage
Monthly Revenue: 16,400
Process: Improve / Entitle
Difficulty: Easy

Who is this for?

This development opportunity is tailored for an entrepreneurial couple seeking to create a rental destination while simultaneously building their future home. Through strategic development, they can build equity in the property, to finance against, and generate cash flow to cover monthly mortgage payments.

The Location

Situated on the North Western edge of Delaware County, this project is bordered by the Susquehanna River, defining the county's northern border. It's a scenic area with plenty of outdoor recreational opportunities nearby. Southwest of Franklin, Bear Spring Mountain Wildlife Management Area is perfect for hiking, birdwatching, and wildlife viewing. Gilbert Lake State Park offers hiking, fishing, boating, and picnicking. Craft beer enthusiasts can indulge in tours and tastings at Brewery Ommegang in Cooperstown, nestled in a beautiful location. For outdoor cultural experiences, don't miss Franklin Stage Company's performances and events held in their courtyard during the warmer months.

The Lot:

The siting of this lot is incredibly private, it's tucked off of Watercrest Drive, dirt a cul-de-sac with few other homes on it. The property Is half woods and half cleared field, with the clear field back in the property shielded from the road at the east of the property. there's a gradual slope giving beautiful views out where you will get stunning sunsets year round. as well as views of the lake through the deciduous trees in the winter when the leaves fall. There's an existing driveway on site as well as A cleared field which will help save with groundwork costs.

The Property:

Our vision for this property imagines a larger home distributed across the land in smaller buildings. We plan to have two Cottage ADUs, one closer to the road with a cleared area for a lake view, and another tucked further up by the field. Additionally, a Dog Trot Standard will be positioned at the back of the field to capture stunning sunset views in the mountains. This arrangement of multiple smaller structures will facilitate rental and offer diverse experiences, making the most of the property's unique aspects.

Acquisition

To start this project, you’ll need to purchase the lot for $83,500. You can purchase this lot directly from the realtor Michael A Gibbons who can be reached at 914-674-4422 or let us know and we will be happy to make the introduction. You can also find this lot under our Land service as Breathtaking Views with New Driveway Installed where you can subscribe to explore more beautiful parcels.

Eagle View

Site Map - Raw Lot

Proforma - Acquisition

Phase 1: Site Planning and Land Improvement

In the initial phase of the project, our primary objective is to prepare the lot for construction. This crucial planning stage involves comprehending the characteristics of the land, establishing the development vision, and devising a strategic plan considering financial limitations, time constraints, and functional requirements. When evaluating the site, we prioritize outdoor areas just as much as indoor spaces to determine the optimal position for the house, while also considering design and cost considerations. Our aim is to maximize the land's value while acting as responsible stewards of the site.

Site Map - Phase 1

Proforma - Phase 1

Phase 2: Cabins in the Woods.

During Phase 2, our main focus will be building two Cottage ADUs nestled in the woods of your property. We'll also develop outdoor areas, featuring amenities like a fire pit, outdoor kitchen, and a hot tub. The primary objective is to create a unique rental experience that can be branded and marketed. This strategy will help cover the financing costs of building the Dog Trot in Phase 3.

Site Map - Phase 2

Standard Type

Initially, we will build two Cottage Standard ADUs on Site. They will be positioned further back along the wooded road and efficiently contain all necessary amenities within a 10x20 space. The ground floor will feature a kitchen and wet room, with a sleeping loft above. The convertible couch will provide extra sleeping space for up to four guests. Additionally, a spacious deck will extend the living area, perfect for outdoor dining and relaxation. On the property, we will also include separate areas for a fire pit, outdoor kitchen, and hot tub, all accessible through a walking loop.

Proforma - Phase 2

Phase 3: Your Home

In Phase 3, once you've spent time on the property and have a consistent rental income from the ADUs, we will move forward with building the main house—a HUTS Dogtrot, thoughtfully positioned in the prime location we have reserved for your home.

Site Map - Phase 3

Standard Type:

During this phase, our main focus will be constructing the Dog Trot, strategically positioned to maximize the use of the existing cleared field. The southwest orientation will allow for ample natural light in the afternoons and offer stunning sunset views throughout the year. This 2-bedroom Standard design emphasizes a clear separation between public and private areas. The two equal-sized gable-roofed structures are connected by a shared breezeway, leading to a deck perfectly oriented to capture the primary view.

Experience:

This completed property will offer a true escape experience. When you stay with your family or friends, the main gathering space will be the great room and kitchen area of the dog trot, providing the best views on the property. As the night ends, everyone can walk down to their cabins nestled in the woods. In the summer, the outdoor space will be extended for long nights, where you can gather around a fire under the starry sky.

Proforma - Phase 3

Summary: Your Completed Property

This finished property will comprise Two Cottage ADUs and a Dog Trot Standard. These can all be rented as a branded destination. Our vision for this property involves a gradual unfolding over time. The initial work sets the wheels in motion, allowing you to return to the project for th e final stage whenever you're ready. Discovering the ADU will evoke the feeling of stumbling upon a cabin in the wilderness along a scenic wooded road. This property is designed to transform over time. We imagine it first as a rental property that helps pay for itself and then transitions to a personal escape over time.

*DISCLAIMER: All estimates, including both costs and revenue projections, are based on our research utilizing publicly-available data and our experiences on HUTS service engagements. The pro forma figures are not, in any way, guaranteed and are for illustrative purposes only.

Want to discuss this Development Opportunity with our team?

Fill out the form and we'll be in touch to discuss next steps.

Standards

Studio

Progress

Guides

Developments