1728 Greene Ave · New York, NY 11385

$1,349,999

None bd · None ba · 4,875 sqft · MultiFamily public records · 18 Days on market

Built 1930 2,500 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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

6 UNIT Prime investment opportunity. Sold As-Is. All apartments were renovated. Not Vacant. 5 Apartments - rent stabilized. 1 Apartment - free market.

Key facts

• 2,500 sq ft lot
• Built 1930
• Listed 17 days

Tags

• PRIME INVESTMENT OPPORTUNITY
• ALL APARTMENTS RENOVATED

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Phone available; Sewer connected
• Home design: Triplex; Building area approximately 4,875 total square feet
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Heating & cooling: Natural gas heating; No central air conditioning
• Interior features: Original details; Unfinished basement

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $1.35M.

Deal economics

• At list price, monthly cash flow is $4k ($53k/yr) — positive. Per door: $733/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $1.35M).
• Recommended offer: $1.33M (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% 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 (+5.0%/yr); 214 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).
• At $16,756/mo this rent would consume 226% of the median local household income ($89k/yr) (locally 5525% 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 $9k of loan paydown is wiped out by about $40k of value loss. Plan a longer hold.
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $378k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($1.33M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.
• Current owner paid $160k; list at $1.35M implies a 744% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 40% chance of damaging wind over 30y; extreme-heat days projected 7→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,329,749 (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 1930 — 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: 1.24% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.96%
• DSCR: 1.62
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $307,125
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
58 St Nicholas Ave	0.45mi	8/6.0	4,800 (-2%)	3mo	$300,000	$63	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.97% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $95,198
• Equity at exit: $201,289

10-year hold

• IRR: 17.3%
• Equity multiple: 2.56×
• Total profit: $588,098
• Equity at exit: $116,723

Cash invested: $378,000 (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 11385

• Rents YoY: 5.0%
• Active inventory: 214
• Price-to-rent: 40.3×

Monthly cashflow live

• Estimated rent: $16,756 high
• Mortgage (P&I): −$7,080
• Tax from tax record: −$1,197 /mo · $14,361/yr
• Insurance: −$562
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,519
• Net cashflow: $4,398

Break-even live

Break-even rent $11,188

Max offer price $1,349,999

Occupancy floor 69%

Sensitivity live

Price	-10% $5,163	-5% $4,781	+0% $4,398	+5% $4,016	+10% $3,634
Rent	-10% $3,075	-5% $3,737	+0% $4,398	+5% $5,060	+10% $5,722
Rate	-1.0pp $5,078	-0.5pp $4,742	base $4,398	+0.5pp $4,049	+1.0pp $3,693

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$16,758
Total (6 units)			$16,756

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: $337,500
• Closing costs: $40,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1679 Gates Ave Ridgewood, NY	2.0	1.0	5600	$3,600	$0.64	25d	1	0.27mi
7-87 Woodward Ave Unit 1L Ridgewood, NY	2.0	1.0	3400	$3,200	$0.94	0d	1	0.51mi
60-88 67th Ave Unit 2 Flushing, NY	3.0	1.0	3540	$3,750	$1.06	4d	1	0.83mi

Listing history 19 events

1. 2026-06-21
   days on market $1,349,999 Active 18 DOM
2. 2026-06-18
   days on market $1,349,999 Active 15 DOM
3. 2026-06-17
   days on market $1,349,999 Active 14 DOM
4. 2026-06-16
   days on market $1,349,999 Active 13 DOM
5. 2026-06-15
   days on market $1,349,999 Active 12 DOM
6. 2026-06-13
   days on market $1,349,999 Active 10 DOM
7. 2026-06-09
   days on market $1,349,999 Active 6 DOM
8. 2026-06-08
   days on market $1,349,999 Active 5 DOM
9. 2026-06-07
   days on market $1,349,999 Active 4 DOM
10. 2026-06-04
    days on marketlisting id $1,349,999 Active 1 DOM
11. 2026-05-31
    days on market $1,349,999 Active 82 DOM
12. 2026-03-10
    listed $1,349,999 Active
13. 2025-07-01
    historical
14. 2025-05-16
    status Active
15. 2025-05-02
    historical
16. 2025-03-27
    listed $1,499,999 Active
17. 2023-07-28
    listed $1,399,000 Active
18. 2023-07-28
    historical
19. 1998-10-22
    soldstatus $160,000

ⓘ 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: $14,361 · $1,197/mo
• Projected year-2 tax: $18,588 · $1,549/mo
• Expected delta: +$4,227/yr (+$352/mo · 29.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 13 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 40% 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: $201,072
• − Mortgage interest: −$75,621
• − Property taxes: −$14,361
• − Insurance: −$6,750
• − Repairs & maintenance: −$16,086
• − Management: −$16,086
• − Depreciation: −$39,273
• Taxable income: $32,896
• Est. tax owed @ 24.0%: −$7,895
• After-tax cash flow: $44,887/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: Queens County · 1,914,869 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 101,704
• Household income: $88,838
• Rent vs Own: 69.3% rent · 30.7% own
• Severe rent burden: 5525.0

Population outlook (Queens County) Hauer SSP2

• Today (2025): 2,546,320 people
• By 2030: 2,643,059 · +3.8%
• By 2040: 2,815,563 · +10.6%
• By 2050: 2,944,423 · +15.6%
• By 2075: 3,123,338 · +22.7%
• By 2100: 3,098,688 · +21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 45% White 43% Two or more races 17% Asian 7% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 12% Dominican 8%
• Common ancestry: Romanian 7% Scandinavian 1% Subsaharan African 1%
• Foreign-born: 39% · Canada, Jamaica, China
• Languages at home: 42% English-only · Spanish 34% Russian/Polish/Slavic 9% Other Indo-European 8%

Political lean MEDSL · Queens

• 2024 margin: Strong D (+24.6) · D 62.3% · R 37.7%
• 2008→2024 swing: -26.2pp toward R · 2008: 50.8pp · 2024: 24.6pp
• All cycles: 2024: D+24.6 2020: D+45.2 2016: D+53.4 2012: D+58.5 2008: D+50.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -213.55%
• Current HPI: 300.9364
• Rent YoY: ▲ 4.97%
• 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

+743.7% since first listed

8 events — show timeline

• 2026-03-10 Listed $1,349,999 OneKey® MLS as Distributed by MLS Grid
• 2025-07-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-16 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-05-02 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-03-27 Listed $1,499,999 OneKey® MLS as Distributed by MLS Grid
• 2023-07-28 Listed $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2023-07-28 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 1998-10-22 Sold (Public Records) $160,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $14,361 · -0.9% YoY. Source: county tax records.