224-17 Braddock Ave · New York, NY 11428

$1,299,900

15 bd · 9.0 ba · 3,087 sqft · MultiFamily public records · 17 Days on market

Built 1960 2,150 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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• 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: 3 units. confirmed

Listing remarks

3 Family home in the Queens Village/Bellerose Area. Excellent investment opportunity! Solid three-family brick Colonial featuring one 1-bedroom unit and two 2-bedroom units. Ideal for investors seeking strong rental income potential or owner-occupants looking to offset expenses with rental revenue. Property can be delivered vacant upon request. Well-suited for long-term cash flow and value-add potential in a desirable location. 3 car parking space. Close to school and public transportation.

Key facts

• Solid brick colonial
• Value add potential
• Three family home

Tags

• THREE FAMILY HOME
• SOLID BRICK COLONIAL
• STRONG RENTAL INCOME
• LONG TERM CASH FLOW
• VALUE ADD POTENTIAL
• THREE CAR PARKING SPACE

Property features AI

Exterior

• Parking: Three total parking spaces; Driveway; Garage; Carport present
• Utilities: Con-Edison electric service; Public sewer; Cable available; Electricity available; Natural gas available
• Home design: Townhouse; Duplex property; Actual condition
• Construction: Brick/mortar foundation
• Exterior features: Brick construction; No waterfront

Interior

• Bedrooms: One 1-bedroom unit; Two 2-bedroom units
• Flooring: Hardwood floors
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas heating; Separate meters
• Interior features: First-floor bedroom; First-floor full bathroom

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $1.30M.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $720/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.29M (0.5% below list).
• Recommended offer: $1.28M (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: 61 active listings in the ZIP; 5,302 units permitted in Queens County in 2024 (4,918 in 5+ unit buildings).

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.
• Queens County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($1.28M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $1,280,401 (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 1960 — 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: 1.00% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-73,522
• Equity at exit: $193,819

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $111,508
• Equity at exit: $112,392

Cash invested: $363,972 (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 11428

• Active inventory: 61
• Price-to-rent: 25.1×

Monthly cashflow live

• Estimated rent: $12,937 medium
• Mortgage (P&I): −$6,817
• Tax from tax record: −$703 /mo · $8,437/yr
• Insurance: −$542
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,717
• Net cashflow: $2,159

Break-even live

Break-even rent $10,204

Max offer price $1,299,900

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$12,936
Total (3 units)			$12,937

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: $324,975
• Closing costs: $38,997
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $1,299,900 Active 17 DOM
2. 2026-06-17
   days on market $1,299,900 Active 16 DOM
3. 2026-06-16
   days on market $1,299,900 Active 15 DOM
4. 2026-06-15
   days on market $1,299,900 Active 14 DOM
5. 2026-06-13
   days on market $1,299,900 Active 12 DOM
6. 2026-06-09
   days on market $1,299,900 Active 8 DOM
7. 2026-06-08
   days on market $1,299,900 Active 7 DOM
8. 2026-06-08
   days on market $1,299,900 Active 6 DOM
9. 2026-06-04
   days on market $1,299,900 Active 3 DOM
10. 2026-06-03
    days on market $1,299,900 Active 2 DOM
11. 2026-06-02
    remarks 495-char remark
12. 2026-06-02
    listed $1,299,900 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: $8,437 · $703/mo
• Projected year-2 tax: $15,203 · $1,267/mo
• Expected delta: +$6,766/yr (+$564/mo · 80.2%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $155,244
• − Mortgage interest: −$72,815
• − Property taxes: −$8,437
• − Insurance: −$6,500
• − Repairs & maintenance: −$12,420
• − Management: −$12,420
• − Depreciation: −$37,815
• Taxable income: $4,838
• Est. tax owed @ 24.0%: −$1,161
• After-tax cash flow: $24,743/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
• City population: 7,731,280
• Population (ZIP): 18,898

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: Highly diverse neighborhood (Simpson 0.78)
• Race & ethnicity: Asian 32% Hispanic / Latino 28% Black 16% Two or more races 14% White 8%
• Hispanic origin (detail): Puerto Rican 7% Dominican 4%
• Common ancestry: Hispanic 6% Russian 1% Romanian 1%
• Foreign-born: 56% · Canada, Jamaica, China
• Languages at home: 52% English-only · Spanish 22% Other Indo-European 13% Chinese 4%

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: ▼ -447.37%
• Current HPI: 312.7934
• Rent YoY: —
• Metro: —
• 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

+0.1% since first listed

2 events — show timeline

• 2026-06-01 Price Changed $1,299,900 OneKey® MLS as Distributed by MLS Grid
• 2026-06-01 Listed $1,299,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2025): $8,437 · +3.4% YoY. Source: county tax records.