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2903 RIDGE AVENUE
About This Property
Set on 6.8 acres, this unique property offers three separate residential structures on one parcel, each containing two two-bedroom dwelling units, for a total of six units included in one listing. Recent improvements include updated hot water heaters throughout. The structure at 2903 Ridge features a new roof and an oil burner replaced in May 2026, along with shared well and septic service. The structure at 2845 Ridge has its own well and septic tank, with the septic system replaced in 2023. At 2905 Ridge, the roof was replaced in 2024, and the second-floor unit features propane heat. With six two-bedroom residences and substantial acreage, this property presents a distinctive opportunity for buyers seeking a multi-unit investment. Some photos have been virtually staged.
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 1, 2026 | Listed by Northrop Realty | $900,000 | |
| Listed by Northrop Realty | |||
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About Milford Mill
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017