177 Riverside Dr · Johnson City, NY 13790

$249,900

5 bd · 3.0 ba · 2,660 sqft · MultiFamily · 28 Days on market

Built 1985 Good condition 7,405 sqft lot Est $226k · 11% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.5/10.0
• Rent growth +4.9/5.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• ARV discount +2.8/15.0

Multi-family units

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

Listing remarks

Versatile mixed-use investment opportunity ideally situated on the corner of Riverside Dr and Columbus Pl. in a highly visible, convenient location. This property is commercially zoned, offering excellent potential for investors, owner-occupants, or small business use. The upper unit features 3 bedrooms and 1 full bath, while the lower unit offers 2 bedrooms and 1 full bath, creating flexible living arrangements and strong income potential. A separate office overlay/flex space with its own private entrance adds even more opportunity for a home business, studio, professional office, or additional rental income. This property combines residential comfort with commercial potential in one of Jo

Key facts

• Accessible corridors
• Commercial potential
• Private entrance

Tags

• COMMERCIALLY ZONED
• FLEXIBLE LIVING ARRANGEMENTS
• SEPARATE OFFICE OVERLAY
• PRIVATE ENTRANCE
• COMMERCIAL POTENTIAL
• ACCESSIBLE CORRIDORS

Property features AI

Finance

• Other: Corner lot location at Riverside Drive and Columbus Place

Exterior

• Parking: Driveway; On-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex (residential income property); Level lot
• Construction: Aluminum siding
• Exterior features: Covered porch

Interior

• Kitchen: Gas water heater (serves kitchen/appliances)
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: Two full bathrooms total; One unit with 1 bathroom, the other unit with 1 bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Other interior features (see remarks); Gas water heater; Basement present
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $935 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $246k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $3,369/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 $27k of equity ($2k loan paydown + $25k 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 $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.

Recommended offer $246,151 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.35% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $226,100
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Narwood St	0.29mi	5/3.0	2,500 (-6%)	11mo	$235,000	$94	68
161 Schubert St	0.67mi	6/4.0 (+1)	2,640 (-1%)	6mo	$176,000	$67	54
207 Saint Charles St	0.71mi	6/3.0 (+1)	2,550 (-4%)	15mo	$179,000	$70	43
6 Lawton Ave	0.63mi	6/2.0 (+1)	2,400 (-10%)	4mo	$205,000	$85	42
16 Cleveland Ave	0.54mi	4/2.0 (-1)	2,916 (+10%)	13mo	$212,500	$73	39
101 Helen St	0.75mi	6/2.0 (+1)	2,440 (-8%)	14mo	$256,000	$105	30

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: 38.7%
• Equity multiple: 4.05×
• Total profit: $213,477
• Equity at exit: $225,130

10-year hold

• IRR: 35.2%
• Equity multiple: 9.95×
• Total profit: $626,057
• Equity at exit: $485,501

Cash invested: $69,972 (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: 12.1×

Monthly cashflow live

• Estimated rent: $3,369 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$707
• Net cashflow: $935

Break-even live

Break-even rent $2,186

Max offer price $249,900

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,727
1× unit	2	1	$1,642
Total (2 units)			$3,369

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	44d	1	0.75mi
16 Highland Ave Unit 2 Binghamton, NY	6.0	1.0	2000	$2,750	$1.38	44d	1	0.93mi
520 Murray Hill Rd Vestal, NY	4.0	3.0	2400	$3,595	$1.50	44d	1	0.99mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	13d	1	1.23mi

Listing history 18 events

1. 2026-06-19
   days on market $249,900 Active 28 DOM
2. 2026-06-18
   days on market $249,900 Active 27 DOM
3. 2026-06-17
   days on market $249,900 Active 26 DOM
4. 2026-06-16
   days on market $249,900 Active 25 DOM
5. 2026-06-15
   days on market $249,900 Active 24 DOM
6. 2026-06-14
   days on market $249,900 Active 22 DOM
7. 2026-06-13
   days on market $249,900 Active 21 DOM
8. 2026-06-10
   days on market $249,900 Active 19 DOM
9. 2026-06-09
   days on market $249,900 Active 18 DOM
10. 2026-06-08
    days on market $249,900 Active 17 DOM
11. 2026-06-07
    days on market $249,900 Active 16 DOM
12. 2026-06-05
    days on market $249,900 Active 13 DOM
13. 2026-06-03
    days on market $249,900 Active 12 DOM
14. 2026-06-02
    days on market $249,900 Active 11 DOM
15. 2026-06-01
    days on market $249,900 Active 10 DOM
16. 2026-05-31
    days on market $249,900 Active 9 DOM
17. 2026-05-30
    days on market $249,900 Active 8 DOM
18. 2026-05-22
    listed $249,900 Active

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

Taxation est. · year 1

• Rental income: $40,428
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,234
• − Management: −$3,234
• − Depreciation: −$7,270
• Taxable income: $7,693
• Est. tax owed @ 24.0%: −$1,846
• After-tax cash flow: $9,368/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 · 29 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with updated kitchens and bathrooms, and a well-maintained exterior. It offers a good investment opportunity with potential for rental income and commercial use.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Rental trim bushes — improves landscaping
• Both install smart home devices — increases convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Rental trim bushes — improves landscaping ↑
• Both install smart home devices — increases convenience and marketability ↑

ⓘ 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

1 event — show timeline

• 2026-05-22 Listed $249,900 GBAOR