319 W Clinton St · Johnstown, NY 12078

$179,900

5 bd · 2.0 ba · 2,896 sqft · MultiFamily public records · 15 Days on market

Built 1900 6,534 sqft lot Est $127k · 41% 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 +9.4/10.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Great owner occupied or investment property. Upper apartment is own occ/lower has long term tenants. Siding/Roof/Windows/Driveway are all new. HW Htrs less than 5 years, separate utilities. Large tandem garage with workshop. Home has been well maintained. No Showings until 01/30/21

Key facts

• Recent updates
• Well maintained
• Spacious units

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• STRONG RENTAL HISTORY
• RECENT UPDATES
• HARD-TO-FIND AMENITIES
• SPACIOUS UNITS
• WELL MAINTAINED

Property features AI

Exterior

• Parking: Detached garage with workshop space; Tandem garage configuration; Total parking for 3 vehicles; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Duplex; Total living area approximately 2,896
• Construction: Vinyl siding construction
• Exterior features: Asphalt roof; Detached garage(s)

Interior

• Kitchen: Unit 1: 1 kitchen on 1st floor; Unit 2: 1 kitchen on 2nd floor
• Bedrooms: Unit 1 has 2 bedrooms on the 1st floor; Unit 2 has 2 bedrooms on the 2nd floor
• Bathrooms: Two full bathrooms (one on 1st floor, one on 2nd floor)
• Heating & cooling: Natural gas heating; Hot water baseboard heat
• Interior features: Full basement
• Laundry & utility: Shared laundry in common area; Laundry located in a bathroom; Main level access to laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $796 ($10k/yr) — positive. Per door: $398/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.6% 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: 165 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 $19k of equity ($1k loan paydown + $18k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~2 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 15 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $93k; list at $180k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,201 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.44% ✓
• Cap rate: 11.60%
• Cash-on-cash: 18.95%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $127,424
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 School St	0.16mi	5/2.0	2,750 (-5%)	24mo	$120,000	$44	64
15 Water St	0.59mi	6/2.0 (+1)	2,688 (-7%)	2mo	$73,000	$27	53
10 Hamilton St	0.33mi	5/3.0	2,528 (-13%)	10mo	$155,000	$61	51
23 N Perry St	0.38mi	4/2.0 (-1)	2,568 (-11%)	10mo	$204,000	$79	51
208 N Market St	0.51mi	6/4.0 (+1)	2,745 (-5%)	9mo	$115,000	$42	47
101 Washington St	0.46mi	6/3.0 (+1)	3,279 (+13%)	4mo	$135,000	$41	44
117 E Clinton St	0.53mi	6/3.0 (+1)	2,646 (-9%)	15mo	$125,000	$47	39
13 S Chase St	0.70mi	4/2.0 (-1)	2,603 (-10%)	18mo	$90,000	$35	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.4%
• Equity multiple: 3.95×
• Total profit: $148,698
• Equity at exit: $162,068

10-year hold

• IRR: 33.1%
• Equity multiple: 8.90×
• Total profit: $398,124
• Equity at exit: $349,506

Cash invested: $50,372 (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 12078

• Home prices YoY: 12.2%
• Active inventory: 165
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,589 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$231 /mo · $2,775/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $796

Break-even live

Break-even rent $1,582

Max offer price $179,900

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,588
Total (2 units)			$2,589

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-23
   status Pending
2. 2026-05-08
   listed $179,900 Active
3. 2021-04-13
   soldstatus $93,000
4. 2021-03-10
   soldstatus $93,000 Closed (Final Sale) 282-char remark

   Show marketing remark (282 chars)

   Great owner occupied or investment property. Upper apartment is own occ/lower has long term tenants. Siding/Roof/Windows/Driveway are all new. HW Htrs less than 5 years, separate utilities. Large tandem garage with workshop. Home has been well maintained. No Showings until 01/30/21

5. 2021-01-30
   status Pend (Under Cntr) 282-char remark

   Show marketing remark (282 chars)

   Great owner occupied or investment property. Upper apartment is own occ/lower has long term tenants. Siding/Roof/Windows/Driveway are all new. HW Htrs less than 5 years, separate utilities. Large tandem garage with workshop. Home has been well maintained. No Showings until 01/30/21

6. 2021-01-25
   listed $95,000 Active - Under Contract 282-char remark

   Show marketing remark (282 chars)

   Great owner occupied or investment property. Upper apartment is own occ/lower has long term tenants. Siding/Roof/Windows/Driveway are all new. HW Htrs less than 5 years, separate utilities. Large tandem garage with workshop. Home has been well maintained. No Showings until 01/30/21

ⓘ 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: $2,775 · $231/mo
• Projected year-2 tax: $2,908 · $242/mo
• Expected delta: +$133/yr (+$11/mo · 4.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $31,068
• − Mortgage interest: −$10,077
• − Property taxes: −$2,775
• − Insurance: −$900
• − Repairs & maintenance: −$2,485
• − Management: −$2,485
• − Depreciation: −$5,233
• Taxable income: $7,112
• Est. tax owed @ 24.0%: −$1,707
• After-tax cash flow: $7,841/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): 23,087

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 (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 5% Black 2% Asian 1%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Lithuanian 5% Romanian 4% Iranian 4%
• Foreign-born: 2% · Canada, China
• 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: ▲ 34.22%
• Current HPI: 315.1368
• 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

+89.4% since first listed

6 events — show timeline

• 2026-05-23 Pending — Global MLS
• 2026-05-08 Listed $179,900 Global MLS
• 2021-04-13 Sold (Public Records) $93,000 Public Records
• 2021-03-10 Sold (MLS) $93,000 Global MLS
• 2021-01-30 Pending — Global MLS
• 2021-01-25 Listed $95,000 Global MLS

Property tax history

+21.9%/yr

Latest (2025): $2,775 · +5.8% YoY. Source: county tax records.