300 Wells St · Johnstown, NY 12095

$215,000

6 bd · 2.0 ba · 1,976 sqft · MultiFamily public records · 26 Days on market

Built 1895 6,098 sqft lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.6/30.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• 1% rule +2.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Room for everyone and loaded with charm, this spacious and affordable two-family home in the heart of Johnstown offers incredible flexibility and endless possibilities! Currently used as a large single-family residence, this well-maintained home features generous living spaces filled with natural light and classic character throughout. The inviting first floor boasts a bright, modern kitchen with ample cabinetry and workspace, a formal dining room perfect for gatherings and holiday meals, an oversized double living room ideal for entertaining or relaxing, and a convenient laundry/pantry room offering exceptional storage and functionality. Upstairs, you'll find 3 comfortable bedrooms along w

Key facts

• Formal dining room
• Two-family home
• Laundry pantry room

Tags

• TWO-FAMILY HOME
• MODERN KITCHEN
• FORMAL DINING ROOM
• OVERSIZED DOUBLE LIVING ROOM
• LAUNDRY PANTRY ROOM
• ADDITIONAL LIVING ROOM

Property features AI

Finance

• Other: Two residential units (total 2 units)

Exterior

• Parking: Detached garage with garage door opener; Off-street paved parking; 2 total parking spaces (1 garage space)
• Security: Security lights; Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex; Facing unspecified
• Construction: Vinyl siding; Shingle roof
• Exterior features: Side porch; Deck; Enclosed porch; Landscaped yard; Corner lot; Garage(s) structure

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 3 bedrooms
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom (first level); 1 half bathroom (second level); Total: 2 bathrooms
• Heating & cooling: Natural gas heating; Has heating
• Interior features: Paddle fan; Built-in features; Full basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (29.7% below list).
• Recommended offer: $151k (29.7% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 4.0% in Johnstown — 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 78/100 on livability (#168 in NY, #2,603 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime D-, amenities D-.
• Johnstown City School District (town): math 35% / reading 47% proficiency, ranked #509 of 590 in NY (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $23k of equity ($1k loan paydown + $22k appreciation (10.0% local appreciation)).
• Fulton County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $151,212 (29.7% 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. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.70% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.70%
• DSCR: 0.84
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $114,608
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Dove St	0.49mi	5/2.0 (-1)	2,180 (+10%)	7mo	$127,000	$58	49
4 West St	0.51mi	6/2.0	2,198 (+11%)	10mo	$120,000	$55	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.75×
• Total profit: $105,242
• Equity at exit: $193,689

10-year hold

• IRR: 19.5%
• Equity multiple: 6.30×
• Total profit: $319,125
• Equity at exit: $417,698

Cash invested: $60,200 (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 12095

• Home prices YoY: 3.8%
• Active inventory: 82
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,512 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$163 /mo · $1,955/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-185

Break-even live

Break-even rent $1,747

Max offer price $182,243

Occupancy floor —

Sensitivity live

Price	-10% $-64	-5% $-125	+0% $-185	+5% $-246	+10% $-307
Rent	-10% $-305	-5% $-245	+0% $-185	+5% $-126	+10% $-66
Rate	-1.0pp $-77	-0.5pp $-131	base $-185	+0.5pp $-241	+1.0pp $-298

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $215,000 Active 26 DOM
2. 2026-06-18
   days on market $215,000 Active 24 DOM
3. 2026-06-17
   days on market $215,000 Active 23 DOM
4. 2026-06-16
   days on market $215,000 Active 22 DOM
5. 2026-06-15
   days on market $215,000 Active 21 DOM
6. 2026-06-13
   days on market $215,000 Active 19 DOM
7. 2026-06-12
   days on market $215,000 Active 18 DOM
8. 2026-06-09
   days on market $215,000 Active 15 DOM
9. 2026-06-08
   days on market $215,000 Active 14 DOM
10. 2026-06-07
    days on market $215,000 Active 13 DOM
11. 2026-06-07
    days on market $215,000 Active 12 DOM
12. 2026-06-04
    days on market $215,000 Active 9 DOM
13. 2026-06-02
    status $215,000 Active 8 DOM
14. 2026-05-16
    status Pending
15. 2026-05-08
    listed $215,000 Active

ⓘ 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: $1,955 · $163/mo
• Projected year-2 tax: $2,794 · $233/mo
• Expected delta: +$839/yr (+$70/mo · 42.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,145
• − Mortgage interest: −$12,043
• − Property taxes: −$1,955
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − Depreciation: −$6,255
• Taxable loss: −$6,086
• Est. tax savings @ 24.0%: +$1,461
• After-tax cash flow: $-765/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: Johnstown City School District
• NCES district ID: 3615980
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 47% ▲ 4.00%
• Median HH income: $45,999
• Composite: 34.89/100
• National rank: #5082
• State rank: #509 of 590 in NY

Livability — Johnstown

• Score: 78/100
• State rank: #168
• US rank: #2603

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnstown, NY
• Population (ZIP): 12,013

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 51,132 people
• By 2030: 49,114 · -3.9%
• By 2040: 44,373 · -13.2%
• By 2050: 39,321 · -23.1%
• By 2075: 28,503 · -44.3%
• By 2100: 19,268 · -62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 4% Black 2%
• Common ancestry: Iranian 6% Romanian 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Fulton

• 2024 margin: Solid R (+35.9) · D 32.1% · R 67.9%
• 2008→2024 swing: -26.6pp toward R · 2008: -9.2pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+31.4 2016: R+35.5 2012: R+10.5 2008: R+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.82%
• Current HPI: 297.365
• 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

2 events — show timeline

• 2026-05-16 Pending — Global MLS
• 2026-05-08 Listed $215,000 Global MLS

Property tax history

+11.5%/yr

Latest (2025): $1,955 · +39.6% YoY. Source: county tax records.