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    Ridge, NY Triplex Investment Title is generated by Realmo AI

    10 Sally Lane, Ridge, NY 11961

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    Claim this Listing
    For Sale
    $950,000

    MULTI_FAMILY - Other - Ridge, NY

    Lot size:
    0.75 Acres
    Added:
    Jan 6, 2025
    Days on Market:
    494
    Last Refresh:
    May 15 at 2:06 am

    Property Features for 10 Sally Lane

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 5, Basement, Bathroom 1, Bedroom 6, Bedroom 2, Bedroom 4, Bedroom 1
    Parking
    6
    Parking features
    Driveway, Off Street
    Interior features
    First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
    Basement
    Partial, Unfinished
    Standard status
    Active
    Lot size
    0.75 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    14356

    Utilities

    Sewer type
    Cesspool
    Heating system
    Oil
    Water source
    Public

    Building Details

    Year built
    1960
    Number of units
    3
    Flooring type
    Laminate
    Architectural style
    Other

    We can help!

    Listing Contact
    Carmine Capobianco

    Listing agent Carmine Capobianco

    Listing office Coldwell Banker American Homes 2395 Ocean Ave Ste 1, East Meadow, NY

    Listing date Jan 6, 2025

    MLS# 810219 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

    • High Income Potential: Legal three‑family house boasting a Net Operating Income (NOI) close to $70,000 per year.
    • Fully Tenanted: Generating income with all units currently occupied.
    • Updated and Well‑Maintained: Features newer kitchens, baths, roof, and oil burners.
    • Low Maintenance: Tenants responsible for their own electric and heat.
    • Large Lot & Convenient Location: Situated on a .75 acre semi‑wooded lot in a quiet residential area, close to major highways and LIRR.
    • Off‑Street Parking: Private off‑street parking available in the rear of the property.

    Overview

    This well-maintained and updated triplex represents an excellent investment opportunity. The property is legally designated as a three-family house, as per the Certificate of Occupancy, and offers substantial income potential. Recent updates include newer kitchens and bathrooms, a newer roof, and updated oil burners. The tenants are responsible for their individual electric and heating expenses, while the owner covers taxes, water, and insurance, resulting in low maintenance expenses. The property is currently fully tenanted. Apartment 1 generates $2650 per month, while Apartments 2 and 3 each contribute $2350 per month. The Net Operating Income (NOI) is close to $70,000 per year. The property is situated in a quiet residential area on a large 0.75-acre semi-wooded lot. It features private off-street parking in the rear and is conveniently located near major highways and the Long Island Rail Road (LIRR). This centrally located property in Suffolk County offers a rare opportunity for generating passive income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ridge
    County
    Suffolk
    State
    New York
    Longitude
    -72.887479
    Latitude
    40.894259

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    FAQs

    What type of property is this?
    Triplex - Well-maintained triplex in Ridge, NY with high income potential.
    Where is this triplex located?
    The property is located at 10 Sally Lane Ridge, NY.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: High Income Potential: Legal three‑family house boasting a Net Operating Income (NOI) close to $70,000 per year.; Fully Tenanted: Generating income with all units currently occupied.; Updated and Well‑Maintained: Features newer kitchens, baths, roof, and oil burners.
    (631) 838-8842
    We can help!
    Listing Contact
    Carmine Capobianco
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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