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53 3rd Avenue
About This Property
Recent renovations include new siding, roof, windows, entry and interior doors, and fresh paint throughout in a calming, modern palette. The kitchen has been completely redone with new cabinetry, stainless steel appliances, and stylish flooring. Throughout the home, you'll find a mix of brand new flooring and original hardwood, creating a warm, inviting atmosphere. The bathrooms have been tastefully renovated with Kohler fixtures, two are brand new, and the third was updated approximately 10 years ago.
The second floor is a thoughtfully designed private space offering the perfect opportunity for extended living or a possible income stream with required permits, an ideal setup for those seeking both a primary residence and added value.
Additional features include a tankless hot water system with extra utility hookup, 150-amp electric service, and a sewer connection. Conveniently located near Main Street, the LIRR, Brookwood Hall Park, and just minutes from East Islip and Islip marinas, local beaches, Heckscher State Park, and Tanger Outlets. Taxes after STAR rebate are $13,172.92.
With style, space, and possible earning potential, this home offers a rare opportunity for both comfortable living and a smart investment.
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Cap Rate Calculator
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 29, 2025 | Sold | ||
| Sold | |||
| Jul 18, 2025 | In contract | - | |
| In contract | |||
| Jun 18, 2025 | Price Decreased |
$699,000
↓ $50K
(6.7%) | |
| Price Decreased | |||
| May 12, 2025 | Listed by Signature Premier Properties | $749,000 | |
| Listed by Signature Premier Properties | |||
| Dec 1, 1994 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017