5-11 Avenue C · Johnson City, NY 13790

$179,000

20 bd · None ba · 12,024 sqft · Condo · 39 Days on market

Built 1960 Poor condition $15/sqft · 61% below area ↓ 10% since listing

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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 +23.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Rent growth +4.9/5.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Condition / age +1.0/5.0

Listing remarks

This potential 9-unit mixed-use investment opportunity (8 residential units and 1 commercial space) encompasses approximately 12,024 SF on a 0.14-acre lot and presents exceptional redevelopment potential in the heart of Johnson City. Ideally located just blocks from Binghamton University’s rapidly expanding Pharmacy and Nursing Schools and within walking distance of UHS Wilson Medical Center, the property benefits from strong long-term demand drivers and excellent accessibility to BU’s main campus. The residential component is currently configured with the potential for 4 two-bedroom apartments and 4 three-bedroom apartments, offering an attractive layout for student, workforce,

Key facts

• Built 1960
• Listed 38 days

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: No on-site parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential income property (apartment building)
• Construction: Brick construction; Above-grade finished area approximately 12,024
• Exterior features: Level lot; Located in Central Business District zoning

Interior

• Flooring: Carpet; Hardwood; Vinyl
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Gas water heater; Carpet and hardwood flooring with vinyl in select areas

What this means for you Summary

Snapshot

• This is a 20-bed/?-bath condo listed at $179k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $174k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 6.2% in Johnson City — 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 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.
• Zoned schools: Johnson City Elementary/Primary School (496 students, 55% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: Rents rising fast (+9.5%/yr); 99 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• This rent runs 40% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k 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.
• At projected returns (10.0% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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 $120k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $173,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.10% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (median comp): $453,262
• List price: $179,000
• Delta: -60.51%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 32.1%
• Equity multiple: 3.57×
• Total profit: $128,560
• Equity at exit: $161,257

10-year hold

• IRR: 29.4%
• Equity multiple: 8.75×
• Total profit: $388,308
• Equity at exit: $347,758

Cash invested: $50,120 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,975 medium
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $323

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 79%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-19
   days on market $179,000 Active 39 DOM
2. 2026-06-18
   days on market $179,000 Active 38 DOM
3. 2026-06-17
   days on market $179,000 Active 37 DOM
4. 2026-06-16
   days on market $179,000 Active 36 DOM
5. 2026-06-15
   days on market $179,000 Active 35 DOM
6. 2026-06-14
   days on market $179,000 Active 33 DOM
7. 2026-06-13
   days on market $179,000 Active 32 DOM
8. 2026-06-10
   days on market $179,000 Active 30 DOM
9. 2026-06-09
   days on market $179,000 Active 29 DOM
10. 2026-06-08
    days on market $179,000 Active 28 DOM
11. 2026-06-07
    days on market $179,000 Active 27 DOM
12. 2026-06-05
    days on market $179,000 Active 24 DOM
13. 2026-06-03
    days on market $179,000 Active 23 DOM
14. 2026-06-02
    days on market $179,000 Active 22 DOM
15. 2026-06-01
    days on market $179,000 Active 21 DOM
16. 2026-05-31
    days on market $179,000 Active 20 DOM
17. 2026-05-30
    days on market $179,000 Active 19 DOM
18. 2026-05-11
    listed $179,000 Active 1005-char remark
19. 2025-10-21
    price $179,000
20. 2025-07-07
    price $199,000
21. 2024-12-23
    listed $275,000 Active
22. 2024-03-12
    listed $330,000 Active
23. 2023-02-10
    listed $1,250,000 Active
24. 2018-12-20
    soldstatus $120,000
25. 2018-04-24
    listed $129,000
26. 2017-07-26
    listed $199,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥94°F today · 17 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: $23,704
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − Depreciation: −$5,207
• Taxable income: $1,097
• Est. tax owed @ 24.0%: −$263
• After-tax cash flow: $3,619/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.

Condition & rehab AI · 10 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and renovations to become move-in ready. Significant structural and aesthetic issues need addressing to increase its value.

Repairs flagged

• Major roof — Significant damage and missing shingles
• Major exterior walls — Peeling paint and exposed brick
• Major HVAC/mechanicals — No visible units

Value-add opportunities

• Both roof repair — Critical to safety and appearance
• Both exterior renovation — Improves curb appeal and value
• Both HVAC upgrade — Enhances comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage and missing shingles	Major	$15,000–50,000
exterior walls · Peeling paint and exposed brick	Major	$15,000–50,000
HVAC/mechanicals · No visible units	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both roof repair — Critical to safety and appearance ↑
• Both exterior renovation — Improves curb appeal and value ↑
• Both HVAC upgrade — Enhances comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-10.3% since first listed

9 events — show timeline

• 2026-05-11 Listed $179,000 GBAOR
• 2025-10-21 Price Changed $179,000 GBAOR
• 2025-07-07 Price Changed $199,000 GBAOR
• 2024-12-23 Listed $275,000 GBAOR
• 2024-03-12 Listed $330,000 GBAOR
• 2023-02-10 Listed $1,250,000 GBAOR
• 2018-12-20 Sold (MLS) $120,000 GBAOR
• 2018-04-24 Listed $129,000 GBAOR
• 2017-07-26 Listed $199,500 GBAOR