Pre-War Triplex With Rear
New
For Sale
$1,190,000
1822 Putnam Avenue, Ridgewood, NY 11385
Historic multifamily property with high ceilings, hardwood floors, and flexible living areas.
Property Size5,600 SF
Days on Market7
Property Features for 1822 Putnam Avenue
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Triplex
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$19,534
Amenities
private rear yard
Building Details
Building Size
5,600 SF
Year Built
1913
Listing Agency:
Compass Greater NY LLC
(516) 365-5780
Listed By:
Tong Tong Cheung
Source:
Serhant
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 30 at 10:29PM
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 Compass Greater NY LLC
Investment Insights
Based on property information with market context.
This pre-war triplex, built in 1913, provides 18 bedrooms, 6 full bathrooms, and a full-footprint basement for storage. Interior details include high ceilings, hardwood flooring, built-in shelving, and kitchens equipped with generous cabinetry and gas ranges. The multi-bedroom layout extends across all levels and includes space suitable for varied living arrangements, home offices, or creative studios.
Outdoor areas include a private rear yard with a paved concrete patio and integrated garden beds. The property is in Ridgewood, with nearby destinations including Rolo’s, Julia’s, and Topos Bookstore. Transit access includes the M train at Seneca Avenue and Forest Avenue and the L train at Myrtle-Wyckoff Avenue.
Outdoor areas include a private rear yard with a paved concrete patio and integrated garden beds. The property is in Ridgewood, with nearby destinations including Rolo’s, Julia’s, and Topos Bookstore. Transit access includes the M train at Seneca Avenue and Forest Avenue and the L train at Myrtle-Wyckoff Avenue.
Key Highlights
- 18 bedrooms and 6 full bathrooms
- Full‑footprint basement provides substantial storage space
- Built in 1913 with pre‑war architectural character
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
$92,689
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
7.79%
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%
$1,853,780
$1.9M
Cap Rate 7%
$1,324,129
$1.3M
Cap Rate 9%
$1,029,878
$1.0M
Market Conditions
NOI Build-Up for 5,600 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
$141.1K $25.20/SF
− Vacancy
−$8.7K −$1.55/SF
EGI
$132.4K $23.65/SF
− OpEx
−$39.7K −$7.09/SF
NOI
$92.7K $16.55/SF
Area
Queens County, NY
Vacancy
6.17%
Lease Rate
$25.20 /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%
$1,853,780
Cap Rate 7%
$1,324,129
Cap Rate 9%
$1,029,878
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.28M
NOI $136,889 @ 7.0% cap · market cap 11.50%
Second Best
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,689 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $288,987 @ 7.0% cap · market cap 24.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,971
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
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?
Triplex - Historic multifamily property with high ceilings, hardwood floors, and flexible living areas.
Where is this triplex located?
The property is located at 1822 Putnam Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: 18 bedrooms and 6 full bathrooms; Full‑footprint basement provides substantial storage space; Built in 1913 with pre‑war architectural character
