Waterfront Duplex with Boat
For Sale
$749,000
756 Hickory Street, Lindenhurst, NY 11757
Legal two-family ranch with separate utilities, driveways, and canal access.
Property Size1,200 SF
Price / SF$624.17
Days on Market1149
Property Features for 756 Hickory Street
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$12,641
Amenities
Crawl Space, None
Hardwood
1st Floor Bedrm, A/C Units, Back Yard, Canal Access, Ceiling Fan, Den/Family Room, Dishwasher, Double Pane Windows, Dryer, ENERGY STAR Qualified Windows, Eat in Kitchen, Energy Star Appliance(s), Fenced, Hardwood Floors As Seen, Mailbox, Near Public Transportation, Other, Partial, Patio, Porch, Private Entrance, Public, Ranch, Screens
Dishwasher, Dryer, Oven, ENERGY STAR Qualified Dishwasher, ENERGY STAR Qualified Refrigerator, ENERGY STAR Qualified Stove, ENERGY STAR Qualified Washer, ENERGY STAR Qualified Water Heater, Tankless Water Heater
A/C Units,Ceiling Fan,Dishwasher,Dryer,Energy Star Appliance(s),Mailbox,Screens
1,200.00
8
No Common Walls
ENERGY STAR Qualified Doors,Insulated Doors
Yes
Double Pane Windows,ENERGY STAR Qualified Windows
1st Fl Master Bedroom, First Floor Bedroom, Den/Family Room, Eat-in Kitchen
Square Feet
Near Public Transportation, Exposure East, Privacy, Fenced, Fenced Yard, Hardwood Floors As Seen, 1st Fl Master Bedroom, Library Den, Eat in Kitchen, Patio, Porch, Double Paned Windows, Energy Star Windows
Back Yard,Fenced,Partial
East
Private Entrance
Canal Access
No
Frame
Patio,Porch
Private Entrance, Patio, Porch, Private, Driveway, Back Yard, Fenced, Partial, Double Pane Windows, ENERGY STAR Qualified Windows, Near Public Transportation, Level, Near Public Transit
Building Details
Year Built
1942
Listing Agency:
Eric G Ramsay Jr Assoc LLC
(631) 335-1914
Listed By:
David Sanders
(631) 335-1914
Source:
Compass
Added: Jul 10, 2023
Changed: Aug 29
Last Checked: Aug 29 at 8:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Eric G Ramsay Jr Assoc LLC
Investment Insights
Based on property information with market context.
This legal two-family ranch contains 1,200 square feet, with each residence arranged around two bedrooms, an eat-in kitchen, a living room, and a full bathroom. The units have 10-foot ceilings, large accessible attics, separate electric services and meters, individual driveways, private entrances, and Navien gas burners. Hardwood flooring, ENERGY STAR appliances and windows, air-conditioning units, patios, porches, and fenced outdoor areas are also included.
The property fronts a wide canal with deep-water access and includes a new Navy Sure Guard bulkhead with a 40-foot cut-in boat slip. A separate 50-foot by 113-foot lot is part of the offering. The setting provides canal access near town, with the Great South Bay, Fire Island, and beaches a short ride away. An elevation certificate is included.
The property fronts a wide canal with deep-water access and includes a new Navy Sure Guard bulkhead with a 40-foot cut-in boat slip. A separate 50-foot by 113-foot lot is part of the offering. The setting provides canal access near town, with the Great South Bay, Fire Island, and beaches a short ride away. An elevation certificate is included.
Key Highlights
- Legal two‑family ranch totaling 1,200 SF
- Each unit includes 2 bedrooms, an eat‑in kitchen, a living room, and a full bath
- Separate electric services, meters, driveways, and private entrances for both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,172
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$463,440
$463.4K
Cap Rate 7%
$331,029
$331.0K
Cap Rate 9%
$257,467
$257.5K
Market Conditions
NOI Build-Up for 1,200 SF
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.
Gross rent
$35.3K $29.40/SF
− Vacancy
−$2.2K −$1.81/SF
EGI
$33.1K $27.59/SF
− OpEx
−$9.9K −$8.28/SF
NOI
$23.2K $19.31/SF
Area
Suffolk County, NY
Vacancy
6.17%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$463,440
Cap Rate 7%
$331,029
Cap Rate 9%
$257,467
Alternative Uses
Best Use
Multifamily LT 5
$331.0K
$289.7K – $386.2K
NOI $23,172 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$304.7K
$266.6K – $355.5K
NOI $21,327 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$365.6K
$319.9K – $426.5K
NOI $25,590 @ 7.0% cap · market cap 3.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Explore this area
Business Placement
Demographics for 11757, NY
45,157
Population
15,212
Households
3
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
6.8 sq mi
ZIP Area
6,641
Density / Sq Mi
$128,081
Median Household Income
$56,059
Median Earnings
$2,091
Median Rent
$479,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family ranch with separate utilities, driveways, and canal access.
Where is this duplex located?
The property is located at 756 Hickory Street Lindenhurst, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Legal two‑family ranch totaling 1,200 SF; Each unit includes 2 bedrooms, an eat‑in kitchen, a living room, and a full bath; Separate electric services, meters, driveways, and private entrances for both units
