Opportunity meets flexibility in the heart of Livingston Manor. Just a short two-minute walk to Main Street shops, dining, breweries, and everything this sought-after Catskills destination has to offer, this multifamily property presents an increasingly rare chance to secure long-term rental income in an area where quality housing remains in limited supply. Currently configured as a two-unit multifamily, the property offers flexibility for investors seeking rental income, owner-occupants looking to offset expenses, or buyers envisioning a conversion back into one larger single-family home. The units are in need of renovation and updates, making this an ideal opportunity for investors, contractors, or buyers looking to build equity and add value in a high-demand market with limited long-term rental inventory. Public water and sewer add convenience, while the Little Beaverkill in the rear offers a peaceful natural setting that's hard to find this close to town. Positioned near Route 17 for accessibility, this property places you within walking distance to Livingston Manor's growing restaurant scene, fly fishing destinations, local shops, and year-round recreation. Whether restored as an investment duplex or reimagined into one larger residence, 551 Old Route 17 offers location, flexibility, and upside potential.