380 Rockaway Pkwy · New York, NY 11212

$1,299,000

28 bd · 16.0 ba · 3,198 sqft · MultiFamily public records · 263 Days on market

Built 1930 2,500 sqft lot

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Why this score? — see what drove the C 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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Legal Semi-Detached 4 Family With 7 Bdrms And 4 Bths With A Full Finished Basement With 2 Ose. It Has 3 Two Bedroom Apartments And 1 One Bedroom Apartment. The Approximate Square Footage Is 3198. The Property Is Being Sold As Is With Tenants. The Current Rent Roll Is $4,025 Per Month. 9 Minute Walk To 3 Train And Minutes Away From Shopping., Additional information: Appearance:Excellent

Key facts

• 2,500 sq ft lot
• 2 parking spots
• Built 1930

Property features AI

Finance

• Other: Property contains 4 rental units
• Financial info: Reported monthly rental income: $9,200; Financing options noted: bank mortgage and cash

Exterior

• Parking: Shared driveway offering 2 parking spaces
• Utilities: Electric service with circuit breakers; Hot water: gas; Heating fuel: gas and electric
• Home design: Semi-detached building; Residential property
• Construction: Brick construction; Asphalt/tar roof; Poured concrete foundation; Building footprint approximately 1,638 sq ft; building dimensions approximately 78.00 x 21.00
• Exterior features: Front yard, side yard and back yard

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: Four 2-bedroom units and one 1-bedroom unit across the building (unit-level bedroom counts: one 1-bedroom unit on first floor; three 2-bedroom units on upper floors)
• Flooring: Hardwood floors
• Bathrooms: Four full bathrooms (one full bath per unit)
• Heating & cooling: Ductless/split and steam/radiator heat; Heating fuel: gas and electric
• Interior features: Central split air conditioning; Finished full basement with a separate entrance; Refrigerator; Stove
• Laundry & utility: No AC units listed separately

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $1.30M.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $681/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $1.30M).
• Recommended offer: $1.14M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 soft (-0.6%/yr); 65 active listings in the ZIP; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $13,959/mo this rent would consume 405% of the median local household income ($41k/yr) (locally 9035% 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 $39k 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.

Negotiation context

• It's been on market 263 days — a 12% lower offer ($1.14M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $945k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,143,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.07% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.99%
• DSCR: 1.40
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.79×
• Total profit: $-78,025
• Equity at exit: $193,685

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-3,353
• Equity at exit: $112,314

Cash invested: $363,720 (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 11212

• Home prices YoY: -34.3%
• Rents YoY: -0.6%
• Active inventory: 65
• Price-to-rent: 31.0×

Monthly cashflow live

• Estimated rent: $13,959 medium
• Mortgage (P&I): −$6,812
• Tax from tax record: −$949 /mo · $11,387/yr
• Insurance: −$541
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,931
• Net cashflow: $2,725

Break-even live

Break-even rent $10,509

Max offer price $1,299,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$13,960
Total (4 units)			$13,959

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: $324,750
• Closing costs: $38,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $1,299,000 Active 263 DOM
2. 2026-06-17
   days on market $1,299,000 Active 262 DOM
3. 2026-06-15
   days on market $1,299,000 Active 260 DOM
4. 2026-06-13
   days on market $1,299,000 Active 258 DOM
5. 2026-06-10
   days on market $1,299,000 Active 254 DOM
6. 2026-06-08
   days on market $1,299,000 Active 253 DOM
7. 2026-06-03
   days on market $1,299,000 Active 248 DOM
8. 2026-06-01
   days on market $1,299,000 Active 246 DOM
9. 2026-05-31
   days on market $1,299,000 Active 245 DOM
10. 2025-09-28
    listed $1,299,000 Active
11. 2019-04-22
    soldstatus $945,000
12. 2019-04-16
    soldstatus $945,000 Closed 393-char remark

    Show marketing remark (393 chars)

    Legal Semi-Detached 4 Family With 7 Bdrms And 4 Bths With A Full Finished Basement With 2 Ose. It Has 3 Two Bedroom Apartments And 1 One Bedroom Apartment. The Approximate Square Footage Is 3198. The Property Is Being Sold As Is With Tenants. The Current Rent Roll Is $4,025 Per Month. 9 Minute Walk To 3 Train And Minutes Away From Shopping., Additional information: Appearance:Excellent

13. 2019-01-04
    status Under Contract 393-char remark

    Show marketing remark (393 chars)

    Legal Semi-Detached 4 Family With 7 Bdrms And 4 Bths With A Full Finished Basement With 2 Ose. It Has 3 Two Bedroom Apartments And 1 One Bedroom Apartment. The Approximate Square Footage Is 3198. The Property Is Being Sold As Is With Tenants. The Current Rent Roll Is $4,025 Per Month. 9 Minute Walk To 3 Train And Minutes Away From Shopping., Additional information: Appearance:Excellent

14. 2018-11-03
    listed $999,000 New 393-char remark

    Show marketing remark (393 chars)

    Legal Semi-Detached 4 Family With 7 Bdrms And 4 Bths With A Full Finished Basement With 2 Ose. It Has 3 Two Bedroom Apartments And 1 One Bedroom Apartment. The Approximate Square Footage Is 3198. The Property Is Being Sold As Is With Tenants. The Current Rent Roll Is $4,025 Per Month. 9 Minute Walk To 3 Train And Minutes Away From Shopping., Additional information: Appearance:Excellent

15. 1988-10-25
    soldstatus $150,000
16. 1987-01-20
    soldstatus $40,000
17. 1987-01-20
    soldstatus $400,000

ⓘ 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: $11,387 · $949/mo
• Projected year-2 tax: $16,670 · $1,389/mo
• Expected delta: +$5,283/yr (+$440/mo · 46.4%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $167,508
• − Mortgage interest: −$72,764
• − Property taxes: −$11,387
• − Insurance: −$6,495
• − Repairs & maintenance: −$13,401
• − Management: −$13,401
• − Depreciation: −$37,789
• Taxable income: $12,272
• Est. tax owed @ 24.0%: −$2,945
• After-tax cash flow: $29,759/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): 89,020
• Household income: $41,355
• Rent vs Own: 86.8% rent · 13.2% own
• Severe rent burden: 9035.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 20% Two or more races 12% White 4% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 6% Dominican 6%
• Common ancestry: Hispanic 3% Ukrainian 1%
• Foreign-born: 34% · Canada, Mexico, China
• Languages at home: 77% English-only · Spanish 14% French/Haitian/Cajun 4% Arabic 1%

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: ▼ -140.90%
• Current HPI: 269.7955
• Rent YoY: ▼ -0.59%
• 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

+3147.5% since first listed

8 events — show timeline

• 2025-09-28 Listed $1,299,000 BNYMLS
• 2019-04-22 Sold (Public Records) $945,000 Public Records
• 2019-04-16 Sold (MLS) $945,000 OneKey® MLS as Distributed by MLS Grid
• 2019-01-04 Pending — OneKey® MLS as Distributed by MLS Grid
• 2018-11-03 Listed $999,000 OneKey® MLS as Distributed by MLS Grid
• 1988-10-25 Sold (Public Records) $150,000 Public Records
• 1987-01-20 Sold (Public Records) $400,000 Public Records
• 1987-01-20 Sold (Public Records) $40,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $11,387 · +6.9% YoY. Source: county tax records.