179 & 181 Corliss Ave · Johnson City, NY 13790

$210,000

6 bd · 2.0 ba · 2,340 sqft · MultiFamily public records · 97 Days on market

Built 1907 5,227 sqft lot $90/sqft · 8% below area Est $228k · 8% under

---

Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +11.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +4.9/5.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

JOHNSON CITY DUPLEX, conveniently located and on a corner lot. UPDATES IN 2026: BRAND NEW kitchen sink, counter top, faucet, and cabinet, and new ELECTRIC BOX and ROOF, Two large units each with four bedrooms offer so much tenant enjoyment, as does the lovely covered porch. Looking to owner occupy? Live in one unit and rent the other. Both furnaces are only six years old. Call your favorite real estate professional and come take a look.

Key facts

• Covered porch
• Two large units
• Corner lot

Tags

• CORNER LOT
• COVERED PORCH
• TWO LARGE UNITS

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $906 ($11k/yr) — positive. Per door: $453/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $191k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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.
• Market conditions: Rents rising fast (+9.5%/yr); 99 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $3,343/mo this rent would consume 68% of the median local household income ($59k/yr) (locally 1233% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k 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 $59k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 $62k; list at $210k implies a 236% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $191,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.59% ✓
• Cap rate: 11.47%
• Cash-on-cash: 18.49%
• DSCR: 1.82
• GRM: 5.2

CMA / ARV

• ARV (median comp): $227,963
• List price: $210,000
• Delta: -7.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 Harrison St	0.15mi	5/3.0 (-1)	2,127 (-9%)	11mo	$224,720	$106	60
207 Saint Charles St	0.23mi	6/3.0	2,550 (+9%)	15mo	$179,000	$70	58
215 Floral Ave	0.34mi	6/2.0	2,041 (-13%)	9mo	$240,000	$118	56
206 Baldwin St	0.27mi	6/2.0	2,100 (-10%)	18mo	$115,000	$55	55
15 Orchard Ave	0.42mi	5/3.5 (-1)	2,084 (-11%)	2mo	$285,000	$137	49
258 Grand Ave	0.16mi	7/3.0 (+1)	2,660 (+14%)	16mo	$188,000	$71	48
387 Riverside Dr	0.68mi	5/3.0 (-1)	2,130 (-9%)	1mo	$153,300	$72	43
6 Carhart Ave	0.71mi	6/2.0	2,220 (-5%)	23mo	$165,000	$74	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 41.0%
• Equity multiple: 4.23×
• Total profit: $189,952
• Equity at exit: $189,185

10-year hold

• IRR: 37.6%
• Equity multiple: 10.49×
• Total profit: $558,227
• Equity at exit: $407,984

Cash invested: $58,800 (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: 10.5×

Monthly cashflow live

• Estimated rent: $3,343 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$546 /mo · $6,557/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $906

Break-even live

Break-even rent $2,196

Max offer price $210,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,025	-5% $965	+0% $906	+5% $846	+10% $787
Rent	-10% $642	-5% $774	+0% $906	+5% $1,038	+10% $1,170
Rate	-1.0pp $1,012	-0.5pp $959	base $906	+0.5pp $851	+1.0pp $796

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$3,342
Total (2 units)			$3,343

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 Highland Ave Unit 2 Binghamton, NY	6.0	1.0	2000	$2,750	$1.38	44d	1	1.47mi

Listing history 28 events

1. 2026-06-19
   days on market $210,000 Active 97 DOM
2. 2026-06-18
   days on market $210,000 Active 96 DOM
3. 2026-06-17
   days on market $210,000 Active 95 DOM
4. 2026-06-16
   days on market $210,000 Active 94 DOM
5. 2026-06-15
   days on market $210,000 Active 93 DOM
6. 2026-06-14
   days on market $210,000 Active 91 DOM
7. 2026-06-13
   days on market $210,000 Active 90 DOM
8. 2026-06-10
   days on market $210,000 Active 88 DOM
9. 2026-06-09
   days on market $210,000 Active 87 DOM
10. 2026-06-08
    days on market $210,000 Active 86 DOM
11. 2026-06-07
    days on market $210,000 Active 85 DOM
12. 2026-06-05
    days on market $210,000 Active 82 DOM
13. 2026-06-03
    days on market $210,000 Active 81 DOM
14. 2026-06-02
    days on market $210,000 Active 80 DOM
15. 2026-06-01
    days on market $210,000 Active 79 DOM
16. 2026-05-31
    days on market $210,000 Active 78 DOM
17. 2026-05-30
    days on market $210,000 Active 77 DOM
18. 2026-03-14
    listed $210,000 Active 441-char remark

    Show marketing remark (441 chars)

    JOHNSON CITY DUPLEX, conveniently located and on a corner lot. UPDATES IN 2026: BRAND NEW kitchen sink, counter top, faucet, and cabinet, and new ELECTRIC BOX and ROOF, Two large units each with four bedrooms offer so much tenant enjoyment, as does the lovely covered porch. Looking to owner occupy? Live in one unit and rent the other. Both furnaces are only six years old. Call your favorite real estate professional and come take a look.

19. 2026-03-13
    status Active
20. 2025-09-09
    status Pending
21. 2025-05-06
    status Active
22. 2025-04-15
    status Pending
23. 2024-12-10
    price $210,000
24. 2024-10-25
    listed $269,900 Active
25. 2019-06-20
    soldstatus $62,500
26. 2019-06-13
    soldstatus $62,500
27. 2019-01-10
    listed $75,000
28. 2003-10-31
    soldstatus $53,000

ⓘ 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: $6,557 · $546/mo
• Projected year-2 tax: $6,557 · $546/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 3/10 Moderate FEMA zone X · 18% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 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: $40,116
• − Mortgage interest: −$11,763
• − Property taxes: −$6,557
• − Insurance: −$1,050
• − Repairs & maintenance: −$3,209
• − Management: −$3,209
• − Depreciation: −$6,109
• Taxable income: $8,218
• Est. tax owed @ 24.0%: −$1,972
• After-tax cash flow: $8,897/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

+296.2% since first listed

11 events — show timeline

• 2026-03-14 Listed $210,000 GBAOR
• 2026-03-13 Relisted — GBAOR
• 2025-09-09 Pending — GBAOR
• 2025-05-06 Relisted — GBAOR
• 2025-04-15 Pending — GBAOR
• 2024-12-10 Price Changed $210,000 GBAOR
• 2024-10-25 Listed $269,900 GBAOR
• 2019-06-20 Sold (Public Records) $62,500 Public Records
• 2019-06-13 Sold (MLS) $62,500 GBAOR
• 2019-01-10 Listed $75,000 GBAOR
• 2003-10-31 Sold (Public Records) $53,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $6,557 · +1.7% YoY. Source: county tax records.