2325 Bragg St · New York, NY 11229

$595,000

6 bd · 5.0 ba · 1,540 sqft · MultiFamily public records · 16 Days on market

Built 1955 2,000 sqft lot

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Why this score? — see what drove the B- 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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Attached brick 2-family home in the heart of Sheepshead Bay. Features an attached garage and excellent potential for investors or end-users looking to customize and add value. Property requires work and is being sold as-is, offering a great opportunity to renovate to your taste. Conveniently located near public transportation, including the B3, B31, B36, B44, and BM4 bus lines, with easy access to the Q and B subway lines. Close to shopping, supermarkets, restaurants, schools, and everyday conveniences. A fantastic opportunity in a desirable Brooklyn neighborhood with strong upside potential.

Key facts

• Attached garage
• 2,000 sq ft lot
• 2 parking spots

Tags

• ATTACHED GARAGE

Property features AI

Finance

• Other: Two-unit multi-family property (Unit 1: 1 bedroom; Unit 2: 2 bedrooms)
• Financial info: Financing options: exchange considered, bank mortgage, or cash

Exterior

• Parking: Private drive with space for 2 vehicles
• Utilities: 110V electric; Gas hot water; Gas heating (steam/radiator)
• Home design: Attached building; Residential property; Flat roof; Faces unknown
• Construction: Brick exterior/construction; Poured concrete foundation
• Exterior features: Front yard; Back yard

Interior

• Bedrooms: Two-bedroom unit on the second floor; One-bedroom unit on the first floor
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Two full bathrooms in the building total; First-floor unit: one full bath and one half-bath; Second-floor unit: one full bath
• Heating & cooling: Steam/radiator heating; No central AC units listed
• Interior features: Hardwood and tile flooring; No additional listed residential interior features

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $595k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $845/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $595k).
• Recommended offer: $586k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 (+15.8%/yr); 355 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $7,014/mo this rent would consume 119% of the median local household income ($71k/yr) (locally 4771% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $167k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($586k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $586,075 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.18%
• DSCR: 1.54
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.0%
• Equity multiple: 1.29×
• Total profit: $48,260
• Equity at exit: $88,716

10-year hold

• IRR: 20.2%
• Equity multiple: 3.10×
• Total profit: $349,143
• Equity at exit: $51,445

Cash invested: $166,600 (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 11229

• Rents YoY: 15.8%
• Active inventory: 355
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $7,014 medium
• Mortgage (P&I): −$3,120
• Tax from tax record: −$482 /mo · $5,790/yr
• Insurance: −$248
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,473
• Net cashflow: $1,690

Break-even live

Break-even rent $4,874

Max offer price $595,000

Occupancy floor 71%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$7,014
Total (2 units)			$7,014

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: $148,750
• Closing costs: $17,850
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $595,000 Active 16 DOM
2. 2026-06-17
   days on market $595,000 Active 15 DOM
3. 2026-06-16
   days on market $595,000 Active 14 DOM
4. 2026-06-15
   days on market $595,000 Active 13 DOM
5. 2026-06-13
   days on market $595,000 Active 11 DOM
6. 2026-06-09
   days on market $595,000 Active 7 DOM
7. 2026-06-08
   days on market $595,000 Active 6 DOM
8. 2026-06-08
   days on market $595,000 Active 5 DOM
9. 2026-06-04
   days on market $595,000 Active 2 DOM
10. 2026-06-02
    remarks 599-char remark
11. 2026-06-02
    listed $595,000 Active 1 DOM

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $5,790 · $482/mo
• Projected year-2 tax: $7,923 · $660/mo
• Expected delta: +$2,133/yr (+$178/mo · 36.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 53% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $84,168
• − Mortgage interest: −$33,329
• − Property taxes: −$5,790
• − Insurance: −$2,975
• − Repairs & maintenance: −$6,733
• − Management: −$6,733
• − Depreciation: −$17,309
• Taxable income: $11,298
• Est. tax owed @ 24.0%: −$2,711
• After-tax cash flow: $17,573/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): 78,377
• Household income: $70,603
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 4771.0

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 0.60)
• Race & ethnicity: White 59% Asian 22% Hispanic / Latino 9% Black 6% Two or more races 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Scotch-Irish 6% Subsaharan African 6% Romanian 1%
• Foreign-born: 47% · China, Canada, Vietnam
• Languages at home: 40% English-only · Russian/Polish/Slavic 22% Chinese 16% Spanish 6%

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: ▼ -761.52%
• Current HPI: 361.7011
• Rent YoY: ▲ 15.81%
• 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

1 event — show timeline

• 2026-06-02 Listed $595,000 BNYMLS

Property tax history

+5.1%/yr

Latest (2025): $5,790 · +3.4% YoY. Source: county tax records.