3 Lea Place
About This Property
Located on a desirable cul-de-sac in a sought-after Rye City neighborhood, this spacious ranch offers a combination of location, generous living space, and tremendous potential. Just minutes from Midland School, Rye Recreation, shopping, and local amenities, the property is ideally positioned for both everyday living and long-term value.
The main level features generously sized rooms, an updated kitchen, and hardwood floors throughout. The finished walk-out lower level significantly expands the usable living space and includes a large playroom with fireplace and sliding doors leading directly to the backyard, a bedroom with ensuite bathroom, gym, laundry, and additional unfinished storage.
The property sits on lovely grounds with a fenced-in underground pool, creating excellent outdoor living and entertaining space.
The layout and lot also offer an opportunity to explore future expansion or reconfiguration, subject to zoning and municipal approvals. Depending on the buyer's needs, there may be potential to enlarge the existing footprint, add additional living space, rework the current layout, or further enhance the lower level. This makes the property an excellent opportunity for a buyer looking for a home that can be enjoyed as-is while also offering the potential to create a larger, more customized residence over time.
A rare opportunity to purchase a well-located Rye City ranch with substantial existing space, desirable outdoor amenities, and significant potential for future improvements and expansion. Also offered for Rent $10,500 per month.
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What does this mean?
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%.
How much can I actually make?
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.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 28, 2026 | Listed by William Raveis-New York LLC | $2,795,000 | |
| Listed by William Raveis-New York LLC | |||
| Nov 16, 2004 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017