Real Estate: 131 Montgomery St $32,900 one of Newburgh’s oldest homes in Foreclosure

131 Montgomery St Newburgh NY

Dating back to 1785, 131 Montgomery Street is one of the 3 oldest homes left in Newburgh. It has been on and off the market for years, but now it is in foreclosure for $32,900 when just three years ago we showed this home listed at $229,800. According to city historian, the legend is that original owner, Selah Reeve, was a member of the Masonic order, and that George Washington may have come to Masonic meetings there. However, this is doubtful since the house was more likely built 10-15 years after Washington left Newburgh.

Interior photos show many details have been stripped, but if you are interested in some of the rescue me homes we have posted, this would be an excellent candidate. Everything has been painted white, and we mean everything. You can see urban renewal just about stopped at this block. Let’s hope neglect does not take these homes now.

131 Montgomery St Newburgh NY (Broker: John J Lease Realtors)
Asking Price: $32,900
Year Built: 1785
Size: 2,676 sq ft
Taxes: $7,502
Neighborhood: MGL
Distance to NYC: 57.9 mi, 1 hour 2 mins
Public Transportation: MetroNorth to Beacon, then take ferry, Transit Orange Bus Service
Closest Roadways: 9W, I-87, I-84
Google Map
More Newburgh Real Estate




9 Comment

  • Chances are this is a cash only deal, banks need to loosen up their criteria on home financing or else many of these homes will be a thing of the past!

    • Luis, it should be cash only! If one cannot afford 30K then it is likely they will borrow to restore it as well, if they bother at all.. And therein lies the problem in Newburgh – folks using leverage to buy homes and restore them and either being foreclosed on or the property remains untouched, waiting to be flipped to the next buyer.

      So we are back to attracting a better crowd to the city of Newburgh, and how to do so is what we’re all interested in.

      • At the same time be realistic, in this economy who has 70-100K lying around to renovate, and those that do will find safer neighborhoods closer to NYC.

      • In no way did i try to be negative Peter with regards to my reply. What has to be done now is make the city of Newburgh affordable for now so that young urban pioneers and recent grads and young professionals can find a place to call home affordable at the same give them the pride of home ownership. I commend those that have given their blood sweat tears and personal sacrifices to call Newburgh their home. In order to get these homes in the tax rolls instead of rotting away, lets create programs incentives to attract these young professionals who may very well be priced out of NYC and surrounding counties. I love Newburgh and no other city in NYS has the charm Newburgh has but we have to be realistic unless you make six digit income no one has 40-70K lying around to buy a house cash renovate it fully and again those that do can find places like Spring Valley, Mount Vernon, Downtown Yonkers area and find a descent house less commute etc for 150k 225k.

        • Hi Luis, no worries, I didn’t take your comments as a negative. You may recall a while back I suggested lowering the property taxes or giving tax abatements to new homeowners in order to attract them to Newburgh. I was told by someone here that the city needs the revenue, implying the tax cuts were not affordable for the city. So we’re stuck.

          Regarding financing the purchase of 131 Montgomery. It’s not a long term solution. The cost of restoring and rehabbing 131 will likely exceed the loan amount which is what I’m sure happened in the past. I say this having bought and restored an 1890 home in the heights which was in much better shape than this. Furthermore, which lender will finance you after seeing the attached abandoned, fire hazard?

          The only solution I see is to get businesses into the area which can pay taxes, hire folks and raise the demand for homes in the area. Yes, I know I sound like a stuck record, but everything else winds up being a catch 22 situation.

          • Peter I couldnt agree more with you. I used to live on Third St when I was attending Mount St Mary College in 1998, I really enjoyed walking down Downing Park, and I always said to myself when I graduate Im going to try to buy one of these fixer uppers on Third St. I started doing my research and noticed many were city owned, or out of towners sitting on them, etc, and it just was too overwhelming for a young 23 year old out of school. I dont understand why Newburgh being right on the Hudson and as affordable as it is more businesses dont come and shop around for a space. Remember the whole Mid Broadway lot proposal? I had proposed building a small Fine Fare, C-Town or Bravo, (independently owned supermarket chains from NYC). so that local residents wont have to drive to Price Chopper to buy fresh produce and meats, etc. I was even willing to even going to the headquarters of one of the owners of these chains in Harlem and propose building one but of the supermarkets in the Mid Broadway lot, but nothing came of it. IF the folks in Newburgh want change be proactive about it! Do something take action.

  • Why on earth did someone paint everything white? Wonders never cease to amaze me when it comes to things like this. Such a diamond in the rough at this point. I hope there is a buyer to rescue this gem.

  • Come see the homes that are still part of Newburgh history and being maintained!

  • My heart literally aches when I drive past this property. We need someone to buy the property who will understand and care for its historical integrity. Its one of the homes that shows up in every early lithograph of Newburgh, it was a stand alone farmhouse until the city grew up (and was then torn down) around it. The Historical Society would be happy to put lots of research together for anyone who wants to be the steward of this historic landmark.