Victorian Duplex
For Sale
$959,000
Pending
761 E Main Street, Riverhead, NY 11901
DC-3 zoning supports residential and commercial use across a two-home property.
Property Size3,500 SF
Lot Size0.62 Acres
Days on Market168
Property Features for 761 E Main Street
General Information
Standard status
Pending
Size
3,500 SF
Lot size
0.62 Acres
Property subtype
Duplex
Zoning
DC-3
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$15,404
Building Details
Building Size
3,500 SF
Year Built
1900
Buildings
3
Construction
Victorian
Listing Agency:
Bagshaw Real Estate L.L.C
(631) 727-3713
Listed By:
John L. Bagshaw Jr · License #10491202130
Source:
Bagshawre
Added: Mar 18
Changed: Aug 31
Last Checked: Sep 1 at 2:26PM
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 Bagshaw Real Estate L.L.C
Investment Insights
Based on property information with market context.
This duplex property includes a 3,500-square-foot Victorian main residence built in 1900, with three floors, four bedrooms, three full baths, a finished basement with certificates of occupancy and exterior access, and a finished attic. Original oak flooring, ribbed oak columns, a mirrored oak fireplace, stone foundation, and wraparound porch retain the building’s historic character.
A separate two-bedroom cottage with certificates of occupancy adds a second residential structure. The property also includes a 1,700-square-foot shell building suited to storage. Set on .62 acres with DC-3 zoning, the site supports residential and commercial uses, and the source information identifies townhouse development as a potential use. The property is on East Main Street, near Riverhead restaurants, theater, shopping outlets, and a short drive from North Fork beaches, vineyards, and farms.
A separate two-bedroom cottage with certificates of occupancy adds a second residential structure. The property also includes a 1,700-square-foot shell building suited to storage. Set on .62 acres with DC-3 zoning, the site supports residential and commercial uses, and the source information identifies townhouse development as a potential use. The property is on East Main Street, near Riverhead restaurants, theater, shopping outlets, and a short drive from North Fork beaches, vineyards, and farms.
Key Highlights
- Two income‑producing homes: a four‑bedroom main residence and separate two‑bedroom cottage
- 3,500 square feet in the Victorian main residence, built in 1900
- Main residence includes three floors, 4 bedrooms, and 3 full baths
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
$67,586
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
7.05%
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%
$1,351,720
$1.4M
Cap Rate 7%
$965,514
$965.5K
Cap Rate 9%
$750,956
$751.0K
Market Conditions
NOI Build-Up for 3,500 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
$102.9K $29.40/SF
− Vacancy
−$6.3K −$1.81/SF
EGI
$96.6K $27.59/SF
− OpEx
−$29.0K −$8.28/SF
NOI
$67.6K $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%
$1,351,720
Cap Rate 7%
$965,514
Cap Rate 9%
$750,956
Alternative Uses
Best Use
Multifamily LT 5
$965.5K
$844.8K – $1.13M
NOI $67,586 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$888.6K
$777.6K – $1.04M
NOI $62,204 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$1.07M
$933.0K – $1.24M
NOI $74,638 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 11901, NY
30,936
Population
13,126
Households
2.4
Avg Household Size
42
Median Age
21%
College-Educated
79%
High-School Grad
56.7 sq mi
ZIP Area
546
Density / Sq Mi
$83,252
Median Household Income
$39,949
Median Earnings
$2,195
Median Rent
$437,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - DC-3 zoning supports residential and commercial use across a two-home property.
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 $959,000.
What are key features of this property?
This property features: Two income‑producing homes: a four‑bedroom main residence and separate two‑bedroom cottage; 3,500 square feet in the Victorian main residence, built in 1900; Main residence includes three floors, 4 bedrooms, and 3 full baths
