308 Beach 86th St Rockaway Beach, NY 11693
Rockaway Beach NeighborhoodEstimated payment $7,079/month
Highlights
- 0.1 Acre Lot
- 2-minute walk to Beach 90 Street
- 4-minute walk to Rockaway Freeway Dog Park
- Baseboard Heating
About This Home
This meticulously upgraded property features two spacious 3-bedroom, 1-bath units and a stylish 2-bedroom, 1-bath apartment currently rented for $2,850, with tenants covering their own utilities. With projected rents of $3,877 for each 3-bedroom unit, this property delivers a strong cap rate of approximately 9.15% based on a purchase price of $1,225,000—an exceptional opportunity for investors seeking solid cash flow and long-term growth. Inside, discover high-end finishes throughout, while a large partially finished basement offers additional space for storage or future customization. Beyond your doorstep, embrace a lively coastal lifestyle with popular local spots like Cuisine by Claudette, the Rockaway Beach Surf Club for cocktails and bites, and shopping along Rockaway Beach Boulevard. Commuting is seamless thanks to nearby A train service and the NYC Ferry, whisking you to Manhattan or Brooklyn in no time. Whether you’re an investor seeking impressive returns or looking to live steps from the beach while generating income, 308 Beach 86th Street offers the perfect blend of luxury, location, and lucrative potential!
Projected Annual Income:
Two 3-bed units @ $3,877 each ($3,877 x 2 x 12 = $93,048)
One 2-bed unit @ $2,850 ($2,850 x 12 = $34,200)
Total Annual Income = $127,248
Annual Expenses:
Property Taxes = $6,629
Insurance = $3,500
Water, Electric, Misc. = $5,000
Total Annual Expenses = $15,129
Net Operating Income (NOI):
$127,248 - $15,129 = $112,119
Cap Rate:
$112,119 ÷ $1,225,000 = 9.15%
Listing Agent
Instahomes Realty LLC Brokerage Phone: 516-965-4996 License #10491210729 Listed on: 06/29/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,629
Year Built
- Built in 2005
Lot Details
- 4,352 Sq Ft Lot
Parking
- 2 Parking Spaces
Home Design
- Triplex
- Brick Exterior Construction
Bedrooms and Bathrooms
- 8 Bedrooms
- 3 Full Bathrooms
Utilities
- Cooling System Mounted To A Wall/Window
- Baseboard Heating
Additional Features
- Partially Finished Basement
Community Details
- 3 Units
Listing and Financial Details
- Assessor Parcel Number 16117-0025
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $6,629 | $33,005 | $5,242 | $27,763 |
| 2024 | $6,629 | $33,005 | $5,419 | $27,586 |
| 2023 | $6,579 | $32,756 | $5,783 | $26,973 |
| 2022 | $6,169 | $43,860 | $9,300 | $34,560 |
| 2021 | $6,135 | $40,320 | $9,300 | $31,020 |
| 2020 | $5,822 | $34,680 | $9,300 | $25,380 |
| 2019 | $5,754 | $29,700 | $9,300 | $20,400 |
| 2018 | $5,564 | $27,297 | $7,307 | $19,990 |
| 2017 | $5,250 | $25,752 | $8,734 | $17,018 |
| 2016 | $4,857 | $25,752 | $8,734 | $17,018 |
| 2015 | $3,654 | $22,920 | $7,740 | $15,180 |
| 2014 | $3,654 | $22,920 | $7,740 | $15,180 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/04/2025 09/04/25 | For Sale | $1,225,000 | 0.0% | $449 / Sq Ft |
| 09/01/2025 09/01/25 | Off Market | $1,225,000 | -- | -- |
| 06/29/2025 06/29/25 | For Sale | $1,225,000 | -- | $449 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $726,000 | -- | |
| Deed | $730,000 | -- | |
| Deed | $730,000 | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Deed | $250,000 | -- | |
| Deed | $250,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $146,000 | No Value Available | |
| Previous Owner | $584,000 | Purchase Money Mortgage | |
| Previous Owner | $500,000 | No Value Available | |
| Previous Owner | $462,000 | Purchase Money Mortgage | |
| Previous Owner | $499,000 | Purchase Money Mortgage | |
| Previous Owner | $498,000 | No Value Available | |
| Previous Owner | $479,000 | No Value Available | |
| Closed | $0 | No Value Available |
Source: OneKey® MLS
MLS Number: 883404
APN: 16117-0025
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