Three-Unit Multifamily
New
For Sale
$1,688,000
343 Roslyn Ave, Carle Place, NY 11514
Two residences share one parcel with driveway parking and varied unit layouts.
Property Size3,860 SF
Lot Size0.11 Acres
Price / SF$437.31
Days on Market2
Property Features for 343 Roslyn Ave
General Information
Standard status
Active
Size
3,860 SF
Lot size
0.11 Acres
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR, 1 x 4BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,242
Building Details
Building Size
3,860 SF
Year Built
1926
Buildings
2
Units
3
Listing Agency:
Douglas Elliman Real Estate
(516) 945-0255
Listed By:
Michael Carillo · License #30CA0627622
(516) 945-0255
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:56AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Located at 343 Roslyn Avenue in Carle Place, this triplex configuration places three residential units across two homes on a single 50-by-100-foot lot. The property provides 3,860 square feet of living space. The primary residence is arranged as two separate two-bedroom units, while the second residence contains four bedrooms along with a computer room or office.
Driveway parking serves the property, and the Long Island Rail Road station is approximately 0.5 miles away. Major highways and shopping are also nearby. Built in 1926, the property offers a multi-unit residential layout with distinct living arrangements within two structures.
Driveway parking serves the property, and the Long Island Rail Road station is approximately 0.5 miles away. Major highways and shopping are also nearby. Built in 1926, the property offers a multi-unit residential layout with distinct living arrangements within two structures.
Key Highlights
- Three‑unit layout distributed across 2 homes on 1 lot
- 3,860 sq. ft. of total living space
- Primary residence contains 2 distinct 2‑bedroom 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
$73,538
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
4.36%
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%
$1,470,760
$1.5M
Cap Rate 7%
$1,050,543
$1.1M
Cap Rate 9%
$817,089
$817.1K
Market Conditions
NOI Build-Up for 3,860 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
$111.2K $28.80/SF
− Vacancy
−$6.1K −$1.58/SF
EGI
$105.1K $27.22/SF
− OpEx
−$31.5K −$8.16/SF
NOI
$73.5K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /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%
$1,470,760
Cap Rate 7%
$1,050,543
Cap Rate 9%
$817,089
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$919.2K – $1.23M
NOI $73,538 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$983.6K
$860.7K – $1.15M
NOI $68,853 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$2.55M
$2.23M – $2.98M
NOI $178,650 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,540
Businesses Nearby
Explore this area
Business Placement
Demographics for 11514, NY
4,635
Population
1,758
Households
2.6
Avg Household Size
43
Median Age
50%
College-Educated
93%
High-School Grad
0.9 sq mi
ZIP Area
5,150
Density / Sq Mi
$136,125
Median Household Income
$77,358
Median Earnings
$2,302
Median Rent
$713,700
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 - Two residences share one parcel with driveway parking and varied unit layouts.
Where is this triplex located?
The property is located at 343 Roslyn Ave Carle Place, NY.
What is the asking price?
The asking price for this property is $1,688,000.
What are key features of this property?
This property features: Three‑unit layout distributed across 2 homes on 1 lot; 3,860 sq. ft. of total living space; Primary residence contains 2 distinct 2‑bedroom units
