719 Frank St · Johnson City, NY 13790

$142,000

2 bd · 2.0 ba · 880 sqft · Other public records · 68 Days on market

Built 1960 5,227 sqft lot $161/sqft · 13% above area Est $281k · 50% under ↓ 2% since listing

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.1/30.0
• Rent growth +4.9/5.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0

Listing remarks MLS

719 Frank Street is a well-maintained two-family property located near Wegmans, the mall, and other nearby businesses, offering strong convenience for tenants. The property features two 2-bedroom, 1-bath units, currently rented at $1,000 (front) and $850 (rear), providing steady, in-place cash flow. Recent updates include a 2-year-old roof on the front building, furnaces approximately 5 years old, and hot water heaters replaced within the last 1–3 years. The property is separately metered for gas and electric, with two new breaker panels installed last year. Situated on a low-traffic street with long-term tenants in place, this is a simple, stable investment with light value-add potential. Property is being sold as is.

Key facts

• Near wegmans
• Recent updates
• Two family property

Tags

• TWO FAMILY PROPERTY
• NEAR WEGMANS
• NEW BREAKER PANELS
• RECENT UPDATES
• SEPARATELY METERED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $142k.

Deal economics

• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (25.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (15.9% below list).
• Recommended offer: $106k (25.2% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 6.2% in Johnson City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 76/100 on livability (#238 in NY, #3,739 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, employment D-.
• Johnson City Central School District (suburban): math 38% / reading 41% proficiency, ranked #535 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+9.5%/yr); 99 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($982 loan paydown + $14k appreciation (10.0% local appreciation)).
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($133k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,264 (25.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 4.58%
• Cash-on-cash: -6.11%
• DSCR: 0.73
• GRM: 9.9

CMA / ARV

• ARV (median comp): $281,317
• List price: $142,000
• Delta: -49.52%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.78×
• Total profit: $70,880
• Equity at exit: $127,925

10-year hold

• IRR: 20.9%
• Equity multiple: 6.90×
• Total profit: $234,728
• Equity at exit: $275,875

Cash invested: $39,760 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 13790

• Home prices YoY: 6.8%
• Rents YoY: 9.5%
• Active inventory: 99
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,194 high
• Mortgage (P&I): −$745
• Tax from tax record: −$342 /mo · $4,098/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-202

Break-even live

Break-even rent $1,450

Max offer price $106,264

Occupancy floor —

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 Dayton St Unit 2 Johnson City, NY	2.0	1.0	648	$1,000	$1.54	13d	1	0.46mi
11 Dayton St Apt 5 Johnson City, NY	2.0	1.0	900	$1,200	$1.33	13d	1	0.48mi
79 Saint Charles St Apt 3 Johnson City, NY	3.0	1.0	793	$1,340	$1.69	13d	1	1.03mi
333 Grand Ave Johnson City, NY	1.0	1.0	726	$882	$1.21	13d	1	1.05mi
275 Main St Unit 1 Johnson City, NY	1.0	1.0	600	$850	$1.42	21d	1	1.13mi
263 Main St Unit 2 Johnson City, NY	2.0	2.0	850	$1,399	$1.65	21d	1	1.17mi
143 Harrison St Unit 2 Johnson City, NY	2.0	1.0	750	$1,100	$1.47	13d	1	1.22mi
207 Saint Charles St #2 Johnson City, NY	2.0	1.0	925	$1,250	$1.35	21d	1	1.24mi
11 Avenue A Unit !R Johnson City, NY	1.0	1.0	615	$980	$1.59	21d	1	1.36mi
11 Avenue A Unit 3L Johnson City, NY	2.0	1.0	651	$1,250	$1.92	21d	1	1.36mi
155 Willow St Unit 3 Johnson City, NY	2.0	1.0	739	$1,200	$1.62	21d	1	1.39mi
1035 Anna Maria Dr Johnson City, NY	1.0–2.0	1.0	725	$2,130	$2.94	13d	1	1.41mi

Listing history 19 events

1. 2026-06-19
   days on market $142,000 Active 68 DOM
2. 2026-06-18
   days on market $142,000 Active 67 DOM
3. 2026-06-17
   days on market $142,000 Active 66 DOM
4. 2026-06-16
   days on market $142,000 Active 65 DOM
5. 2026-06-15
   days on market $142,000 Active 64 DOM
6. 2026-06-14
   days on market $142,000 Active 62 DOM
7. 2026-06-13
   days on market $142,000 Active 61 DOM
8. 2026-06-10
   days on market $142,000 Active 59 DOM
9. 2026-06-09
   days on market $142,000 Active 58 DOM
10. 2026-06-08
    days on market $142,000 Active 57 DOM
11. 2026-06-07
    days on market $142,000 Active 56 DOM
12. 2026-06-05
    days on market $142,000 Active 53 DOM
13. 2026-06-03
    days on market $142,000 Active 52 DOM
14. 2026-06-02
    days on market $142,000 Active 51 DOM
15. 2026-06-01
    days on market $142,000 Active 50 DOM
16. 2026-05-31
    days on market $142,000 Active 49 DOM
17. 2026-05-30
    days on market $142,000 Active 48 DOM
18. 2026-05-06
    price $142,000 734-char remark

    Show marketing remark (734 chars)

    719 Frank Street is a well-maintained two-family property located near Wegmans, the mall, and other nearby businesses, offering strong convenience for tenants. The property features two 2-bedroom, 1-bath units, currently rented at $1,000 (front) and $850 (rear), providing steady, in-place cash flow. Recent updates include a 2-year-old roof on the front building, furnaces approximately 5 years old, and hot water heaters replaced within the last 1–3 years. The property is separately metered for gas and electric, with two new breaker panels installed last year. Situated on a low-traffic street with long-term tenants in place, this is a simple, stable investment with light value-add potential. Property is being sold as is.

19. 2026-04-13
    listed $145,000 Active 734-char remark

    Show marketing remark (734 chars)

    719 Frank Street is a well-maintained two-family property located near Wegmans, the mall, and other nearby businesses, offering strong convenience for tenants. The property features two 2-bedroom, 1-bath units, currently rented at $1,000 (front) and $850 (rear), providing steady, in-place cash flow. Recent updates include a 2-year-old roof on the front building, furnaces approximately 5 years old, and hot water heaters replaced within the last 1–3 years. The property is separately metered for gas and electric, with two new breaker panels installed last year. Situated on a low-traffic street with long-term tenants in place, this is a simple, stable investment with light value-add potential. Property is being sold as is.

ⓘ 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: $4,098 · $342/mo
• Projected year-2 tax: $4,098 · $342/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (shaded) · 50% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,325
• − Mortgage interest: −$7,954
• − Property taxes: −$4,098
• − Insurance: −$710
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − Depreciation: −$4,131
• Taxable loss: −$4,860
• Est. tax savings @ 24.0%: +$1,166
• After-tax cash flow: $-1,261/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)

• District: Johnson City Central School District
• NCES district ID: 3615900
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 41% ▲ 2.00%
• Median HH income: $40,514
• Composite: 33.17/100
• National rank: #5545
• State rank: #535 of 590 in NY

Livability — Johnson City

• Score: 76/100
• State rank: #238
• US rank: #3739

Category grades

Amenities C Commute A- Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnson City, NY
• County: Broome County · 126,805 people
• City population: 18,739
• Metro: Binghamton, NY
• Population (ZIP): 18,739
• Household income: $59,045
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 1233.0

Population outlook (Broome County) Hauer SSP2

• Today (2025): 187,989 people
• By 2030: 183,066 · -2.6%
• By 2040: 172,228 · -8.4%
• By 2050: 163,161 · -13.2%
• By 2075: 153,641 · -18.3%
• By 2100: 140,851 · -25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 9% Asian 8% Black 6% Hispanic / Latino 4%
• Common ancestry: Romanian 6% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 88% English-only · Other Indo-European 4% French/Haitian/Cajun 2% Spanish 2%

Political lean MEDSL · Broome

• 2024 margin: Toss-up / Even · D 50.2% · R 49.8%
• 2008→2024 swing: -7.6pp toward R · 2008: 8.0pp · 2024: 0.4pp
• All cycles: 2024: D+0.4 2020: D+3.5 2016: R+3.7 2012: D+4.6 2008: D+8.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 18.06%
• Current HPI: 285.3668
• Rent YoY: ▲ 9.47%
• Metro: Binghamton, NY
• 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

-2.1% since first listed

2 events — show timeline

• 2026-05-06 Price Changed $142,000 GBAOR
• 2026-04-13 Listed $145,000 GBAOR

Property tax history

-0.5%/yr

Latest (2025): $4,098 · +1.7% YoY. Source: county tax records.