444 Neptune Ave Unit 10N · New York, NY 11224

$330,000

1 bd · 1.0 ba · 800 sqft · Condo · 24 Days on market

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +7.5/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• 1% rule +5.4/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0

Listing remarks MLS

LARGE 1 BEDROOM ON 10 FLOOR GAS, ELECTRIC, HEAT INLCUDED IN MAINT. NO COMMISSION WILL BE PAID IF FAMILY OF ROBERT BOYKIN WILL BUY APARTMENT.

Key facts

• Storage room
• North facing windows
• Gym

Tags

• NORTH FACING WINDOWS
• PARQUET FLOOR
• STORAGE ROOM
• BICYCLE ROOM
• GYM
• PET FRIENDLY

Property features AI

Finance

• Other: Additional fees may include air conditioning, dishwasher, parking and storage
• Financial info: Financing options include assumption, bank mortgage or cash; Sub-lease permitted; Flip tax applies (percentage-based)
• HOA & community: Monthly maintenance/ common fee; Management company: AKAM; On-site management phone available; Pets allowed (cats and dogs; medium weight limit under 35 lbs); Handicap access available; Co-op shares associated with the unit

Exterior

• Parking: Parking area with wait-list
• Security: Secure lobby; Intercom door; Card-operated door; Security patrol
• Utilities: Electric; Gas; Heat (building-provided); Water; Sewer; Septic; Sprinkler system
• Home design: Residential unit on the 10th floor of a multi-unit building; Unit faces unspecified direction
• Construction: Building contains approximately 1,675 units
• Exterior features: Secure lobby; Card-operated door and intercom entry; Resident superintendent; Security patrol; Bike rooms; Storage rooms; Recreational room; Exercise room; Card-operated laundry; Sprinkler system

Interior

• Kitchen: Tile-floor kitchen; Microwave, refrigerator, stove
• Bedrooms: One bedroom on the first floor
• Flooring: Parquet flooring in living room, dining room and bedroom; Tile flooring in kitchen and bathroom
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heating (building provides heat); Central air conditioning (2 units)
• Interior features: Central air conditioning with 2 A/C units; Elevator; Window treatments; Parquet floors in living, dining and bedroom; Tile floors in kitchen and bathroom; Microwave; Refrigerator; Stove
• Laundry & utility: Laundry area; Card-operated laundry (building amenity)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $330k.

Deal economics

• At list price, monthly cash flow is $-841 ($-10k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $330k).
• Recommended offer: $325k (1.5% below list) — sets the bar for market timing.
• Cap rate 4.8% vs local median 2.6% in New York — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#268 in NY, #4,188 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Market conditions: Rents rising fast (+7.0%/yr); 114 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,446/mo this rent would consume 95% of the median local household income ($44k/yr) (locally 4426% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $19k of equity ($2k loan paydown + $16k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 25% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $325,050 (1.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 4.79%
• Cash-on-cash: -5.38%
• DSCR: 0.76
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.41×
• Total profit: $37,560
• Equity at exit: $186,646

10-year hold

• IRR: 10.6%
• Equity multiple: 3.11×
• Total profit: $195,209
• Equity at exit: $321,828

Cash invested: $92,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City New York: 0 Strongly Tenant-Friendly · D+34

Rent Stabilization Code; HSTPA; 6+ months in housing court.

Methodology + full state rankings →

ZIP-level market 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,446 high
• Mortgage (P&I): −$1,731
• Tax est. 1.5%: −$412 /mo · $4,950/yr
• Insurance: −$138
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 2 same-building comps: −$856
• Vacancy / Maint / Mgmt: −$724
• Net cashflow: $-841

Break-even live

Break-even rent $4,510

Max offer price $208,357

Occupancy floor —

Sensitivity live

Price	-10% $-613	-5% $-727	+0% $-841	+5% $-955	+10% $-1,069
Rent	-10% $-1,113	-5% $-977	+0% $-841	+5% $-705	+10% $-568
Rate	-1.0pp $-674	-0.5pp $-757	base $-841	+0.5pp $-926	+1.0pp $-1,013

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,400	$3.58	8d	8	0.23mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	25d	1	0.31mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	25d	1	0.31mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	25d	1	0.31mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	25d	1	0.31mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	25d	1	0.31mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	25d	1	0.31mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$3,150	$4.46	0d	14	0.71mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	21d	1	0.93mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: gaselectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-24
   status Pending
2. 2026-03-30
   listed $330,000 Active
3. 2008-09-24
   listed $225,000 140-char remark

   Show marketing remark (140 chars)

   LARGE 1 BEDROOM ON 10 FLOOR GAS, ELECTRIC, HEAT INLCUDED IN MAINT. NO COMMISSION WILL BE PAID IF FAMILY OF ROBERT BOYKIN WILL BUY APARTMENT.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,354
• − Mortgage interest: −$18,485
• − Property taxes: −$4,950
• − Insurance: −$6,769
• − Repairs & maintenance: −$3,308
• − Management: −$3,308
• − HOA: −$10,272
• − Depreciation: −$9,600
• Taxable loss: −$15,339
• Est. tax savings @ 24.0%: +$3,681
• After-tax cash flow: $-6,407/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

No district data.

Livability — New York

• Score: 75/100
• State rank: #268
• US rank: #4188

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A- Housing C+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York, NY
• County: Kings County · 2,614,986 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

Population outlook (Kings County) Hauer SSP2

• Today (2025): 2,847,441 people
• By 2030: 2,937,006 · +3.1%
• By 2040: 3,095,491 · +8.7%
• By 2050: 3,228,968 · +13.4%
• By 2075: 3,321,723 · +16.7%
• By 2100: 3,111,387 · +9.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

Political lean MEDSL · Kings

• 2024 margin: Solid D (+44.0) · D 72.0% · R 28.0%
• 2008→2024 swing: -15.5pp toward R · 2008: 59.4pp · 2024: 44.0pp
• All cycles: 2024: D+44.0 2020: D+54.8 2016: D+61.8 2012: D+63.9 2008: D+59.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+46.7% since first listed

3 events — show timeline

• 2026-04-24 Pending — BNYMLS
• 2026-03-30 Listed $330,000 BNYMLS
• 2008-09-24 Listed $225,000 BNYMLS