Riverhead Investment
761 E Main Street, Riverhead, NY 11901
MULTI_FAMILY - Victorian - Riverhead, NY
Property size:
3,500 SFLot size:
0.62 AcresPrice / SF:
$282/SF- Added:
- Mar 18, 2026
- Days on Market:
- 67
- Last Refresh:
- May 23 at 5:06 am
Property Features for 761 E Main Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 6, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 1, Basement, Bedroom 2, Dining Room, Bedroom 4
- Parking
- 6
- Parking features
- Driveway
- Window features
- Wood Frames
- Patio and Porch features
- Porch
- Interior features
- First Floor Full Bath, Cathedral Ceiling(s), Eat-in Kitchen, Formal Dining, Natural Woodwork
- Fireplace
- 1
- Basement
- Finished, Full, Walk-Out Access
- Standard status
- Active
- APN
- 0600-127-00-07-00-024-001
- Size
- 3,500 SF
- Lot size
- 0.62 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 15404
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer, Septic Tank
- Heating system
- Hot Water(Heating), Oil
- Cooling system
- Window Unit(s), Wall/Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 2
- Flooring type
- Tile, Hardwood
- Building materials
- Frame
- Architectural style
- Victorian
Listing agent John L. Bagshaw Jr (631) 727-3713
Listing office Bagshaw Real Estate L.L.C 747 E Main St, Riverhead, NY (631) 727-3713
Listing date Mar 18, 2026
MLS# 973451
Listing URL
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Commercially Zoned (DC‑3) in Prime Riverhead Location on East Main Street
- Two income‑producing homes: 3,500 sq. ft. Victorian with 4 bedrooms and a cozy 2‑bedroom cottage
- Additional 1700 sq ft building with potential for a third residence or townhouse development
- .62 acre park‑like setting featuring a Victorian masterpiece with original oak floors, ribbed oak columns, and grand mirrored oak fireplace
- Finished basement with CO's for living space and outside entrance, plus a walk‑up finished attic with soaring ceilings
- Minutes from Riverhead's restaurants, theatre, shopping, and a short drive to North Fork beaches, vineyards, and farms
Overview
Located in the heart of Riverhead, this commercially zoned property presents a prime investment opportunity. The property, situated on 0.62 acres, features two income-producing homes and benefits from rare DC-3 zoning, which allows for a wide range of residential and commercial uses. The main residence is a 3,500 sq. ft. Victorian masterpiece built in the early 1900s, showcasing timeless charm and craftsmanship. It features a solid stone foundation, original oak floors, ribbed oak columns, and a grand mirrored oak fireplace. The home includes three floors of living space, four spacious bedrooms, three full baths, a finished basement with certificates of occupancy for living space and an outside entrance, and a walk-up finished attic with soaring ceilings. An expansive wraparound porch offers sunset views. Additional structures include a cozy 2-bedroom cottage with certificates of occupancy and a 1700 sq ft building with potential for a third residence. Flexible zoning also allows for potential townhouse development. Set in a park-like setting, the property is minutes from Riverhead's restaurants, theater, and shopping outlets, and a short drive to the North Fork's beaches, vineyards, and farms.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$751.0K
NOI $67,586 @ 9.00% cap · cautious / downside scenario
Moderate
$965.5K
NOI $67,586 @ 7.00% cap · market / base-case scenario
Aggressive
$1.35M
NOI $67,586 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.9k | $29.40 |
| − Vacancy | −$6.3k | −$1.81 |
| EGI | $96.6k | $27.59 |
| − OpEx | −$29.0k | −$8.28 |
| NOI | $67.6k | $19.31 |
3,500 SF · lease $29.40/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$965.5K
$844.8K – $1.13M
NOI $67,586 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$888.6K
$777.6K – $1.04M
NOI $62,204 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$1.07M
$933.0K – $1.24M
NOI $74,638 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Riverhead
- County
- Suffolk
- State
- New York
- Longitude
- -72.652267
- Latitude
- 40.922124
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Commercially zoned property with income-producing homes in Riverhead, NY.
Where is this duplex located?
The property is located at 761 E Main Street Riverhead, NY.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Commercially Zoned (DC‑3) in Prime Riverhead Location on East Main Street; Two income‑producing homes: **3,500 sq. ft. Victorian with 4 bedrooms and a cozy 2‑bedroom cottage**; Additional 1700 sq ft building with potential for a third residence or townhouse development
