Victorian Multifamily with Flexible
761 E Main Street, Riverhead, NY 11901
MULTI_FAMILY - Victorian - Riverhead, NY
Property size:
3,500 SFLot size:
0.62 AcresPrice / SF:
$274/SF- Added:
- Mar 18, 2026
- Days on Market:
- 107
- Last Refresh:
- Jul 2 at 9:06 am
Property Features for 761 E Main Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 3, Basement, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 2, Bedroom 5, Dining Room, Bathroom 1, Bedroom 6, Bedroom 3
- Parking
- 6
- Parking features
- Driveway
- Window features
- Wood Frames
- Patio and Porch features
- Porch
- Interior features
- First Floor Full Bath, Cathedral Ceiling(s), Eat-in Kitchen, Formal Dining, Natural Woodwork
- Fireplace
- 1
- Basement
- Walk-Out Access, Finished, Full
- Standard status
- Active
- APN
- 0600-127-00-07-00-024-001
- Lot size
- 0.62 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 15404
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer, Septic Tank
- Heating system
- Hot Water(Heating), Oil
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1900
- Number of units
- 2
- Flooring type
- Hardwood, Tile
- Building materials
- Frame
- Architectural style
- Victorian
Listing agent John L. Bagshaw Jr (631) 727-3713
Listing office Bagshaw Real Estate L.L.C 747 E Main St, Riverhead, NY (631) 727-3713
Listing date Mar 18, 2026
MLS# 973451
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
- Commercially zoned property with DC‑3 zoning and 2 income‑producing homes on East Main Street
- 3,500 sq. ft. Victorian home built in 1900 on 0.62 acres with hardwood and tile flooring
- Home features 4 bedrooms and 3 full baths, plus a fireplace and cathedral ceilings
- Three floors of living space, finished basement with outside entrance, and a walk‑up finished attic
- Wraparound porch and 6 total bedrooms/bathrooms listed across main home rooms and bathrooms
- Additional structures include a 2‑bedroom cottage and a 1,700 sq. ft. (shell) building for storage potential
Overview
Set on 0.62 acres, this Victorian multi-family offering features a 3,500 sq. ft. early-1900s home with three floors of living space, including 4 bedrooms and 3 full baths. Original details are highlighted throughout, including a solid stone foundation, original oak floors, ribbed oak columns, and a grand mirrored oak fireplace. The property also includes a finished basement with CO’s for additional living space and an outside entrance, plus a finished attic with soaring ceilings and an expansive wraparound porch.
In addition to the main residence, the site includes a cozy 2-bedroom cottage with CO’s. A separate approximately 1,700 sq. ft. building shell provides potential for storage or other compatible uses under the property’s DC-3 zoning. The investment opportunity is positioned on East Main Street in Riverhead, within minutes of restaurants, theater, and shopping outlets, with a short drive to the North Fork’s beaches, vineyards, and farms.
With DC-3 zoning permitting a wide range of residential and commercial uses, the property offers flexible options for investors and operators seeking to diversify beyond a single income stream. The configuration, multiple CO’d living spaces, and existing outbuildings support varied business and housing plans, including the potential for townhouse development.
In addition to the main residence, the site includes a cozy 2-bedroom cottage with CO’s. A separate approximately 1,700 sq. ft. building shell provides potential for storage or other compatible uses under the property’s DC-3 zoning. The investment opportunity is positioned on East Main Street in Riverhead, within minutes of restaurants, theater, and shopping outlets, with a short drive to the North Fork’s beaches, vineyards, and farms.
With DC-3 zoning permitting a wide range of residential and commercial uses, the property offers flexible options for investors and operators seeking to diversify beyond a single income stream. The configuration, multiple CO’d living spaces, and existing outbuildings support varied business and housing plans, including the potential for townhouse development.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.9k | $29.40 |
| − Vacancy | −$6.3k | −$1.81 |
| EGI | $96.6k | $27.59 |
| − OpEx | −$29.0k | −$8.28 |
| NOI | $67.6k | $19.31 |
3,500 SF · lease $29.40/SF/yr · vacancy 6.17% · expense 30.00%
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Riverhead
- County
- Suffolk
- State
- New York
- Longitude
- -72.652267
- Latitude
- 40.922124
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two income-producing homes on a park-like site with DC-3 flexibility for residential and commercial options.
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: Commercially zoned property with DC‑3 zoning and 2 income‑producing homes on East Main Street; 3,500 sq. ft. Victorian home built in 1900 on 0.62 acres with hardwood and tile flooring; Home features 4 bedrooms and 3 full baths, plus a fireplace and cathedral ceilings
