56 N Broad St · Johnson City, NY 13790

$175,000

5 bd · 2.0 ba · 2,112 sqft · MultiFamily public records · 158 Days on market

Built 1910 4,791 sqft lot $83/sqft · 19% below area Est $215k · 19% under

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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 +15.0/15.0
• 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

Great opportunity for you to owner occupy this spacious Johnson City two-family or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Real Estate Professional to take a look!

Key facts

• Backyard
• Off-street parking
• Sidewalks

Tags

• OFF-STREET PARKING
• BACKYARD
• SIDEWALKS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive. Per door: $476/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.

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); Johnson City Middle School (math 19% / reading 43%, grade F, #534 of 729 statewide, top 73%, 500 students, 65% FRL); Johnson City Senior High School (math 98% / reading 64%, grade A, #485 of 1,100 statewide, top 45%, 729 students, 60% FRL) — zoned schools at 60% FRL track the district average.
• Zoned-school proficiency averages 56% at this address vs 40% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Johnson City Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+9.5%/yr); 101 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

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 $49k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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 $140k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.70% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.67%
• DSCR: 2.10
• GRM: 4.9

CMA / ARV

• ARV (median comp): $214,794
• List price: $175,000
• Delta: -18.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 North St	0.27mi	4/2.0 (-1)	1,960 (-7%)	6mo	$140,000	$71	65
244 Corliss Avenue Ave	0.57mi	4/2.0 (-1)	2,050 (-3%)	2mo	$90,000	$44	62
234 Grand Ave	0.54mi	4/4.0 (-1)	2,126 (+1%)	3mo	$160,000	$75	58
276 Harry L. Dr	0.36mi	4/2.0 (-1)	1,864 (-12%)	7mo	$45,000	$24	53
92 Crocker Ave	0.57mi	5/2.0	1,828 (-13%)	0mo	$199,900	$109	51
215 Floral Ave	0.68mi	6/2.0 (+1)	2,041 (-3%)	9mo	$240,000	$118	50
29 Miles St	0.75mi	4/2.0 (-1)	2,080 (-2%)	10mo	$130,000	$63	49
378 Prospect St	0.62mi	4/4.0 (-1)	2,214 (+5%)	9mo	$171,000	$77	42
178 Saint Charles St	0.60mi	4/2.0 (-1)	1,900 (-10%)	10mo	$125,000	$66	42
49 Floral Ave	0.71mi	6/2.0 (+1)	1,836 (-13%)	1mo	$155,000	$84	39
306 Grand Ave	0.61mi	4/3.0 (-1)	1,844 (-13%)	10mo	$150,000	$81	33
223 Floral Ave	0.68mi	6/2.0 (+1)	1,804 (-15%)	10mo	$120,000	$67	31

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: 44.9%
• Equity multiple: 4.51×
• Total profit: $171,829
• Equity at exit: $157,654

10-year hold

• IRR: 41.1%
• Equity multiple: 11.16×
• Total profit: $497,613
• Equity at exit: $339,987

Cash invested: $49,000 (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: 101
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,976 high
• Mortgage (P&I): −$918
• Tax from tax record: −$353 /mo · $4,235/yr
• Insurance: −$73
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $952

Break-even live

Break-even rent $1,771

Max offer price $175,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,051	-5% $1,001	+0% $952	+5% $902	+10% $853
Rent	-10% $717	-5% $834	+0% $952	+5% $1,070	+10% $1,187
Rate	-1.0pp $1,040	-0.5pp $996	base $952	+0.5pp $907	+1.0pp $860

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,976
Total (2 units)			$2,976

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Crocker Ave Johnson City, NY	4.0	2.0	1411	$2,000	$1.42	22d	1	0.53mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	14d	1	0.95mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	45d	1	1.29mi

Listing history 33 events

1. 2026-06-21
   days on market $175,000 Active 158 DOM
2. 2026-06-19
   days on market $175,000 Active 156 DOM
3. 2026-06-18
   days on market $175,000 Active 155 DOM
4. 2026-06-17
   days on market $175,000 Active 154 DOM
5. 2026-06-16
   days on market $175,000 Active 153 DOM
6. 2026-06-15
   days on market $175,000 Active 152 DOM
7. 2026-06-14
   days on market $175,000 Active 150 DOM
8. 2026-06-13
   days on market $175,000 Active 149 DOM
9. 2026-06-10
   days on market $175,000 Active 147 DOM
10. 2026-06-09
    days on market $175,000 Active 146 DOM
11. 2026-06-08
    days on market $175,000 Active 145 DOM
12. 2026-06-07
    days on market $175,000 Active 144 DOM
13. 2026-06-05
    days on market $175,000 Active 141 DOM
14. 2026-06-03
    days on market $175,000 Active 140 DOM
15. 2026-06-02
    days on market $175,000 Active 139 DOM
16. 2026-06-01
    days on market $175,000 Active 138 DOM
17. 2026-05-31
    days on market $175,000 Active 137 DOM
18. 2026-05-30
    days on market $175,000 Active 136 DOM
19. 2026-03-31
    status Active 278-char remark

    Show marketing remark (278 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Real Estate Professional to take a look!

20. 2025-12-03
    listed $175,000 Active 278-char remark

    Show marketing remark (278 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Real Estate Professional to take a look!

21. 2025-05-21
    soldstatus $140,000
22. 2025-05-07
    status Pending 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

23. 2025-05-07
    status Active 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

24. 2025-05-02
    soldstatus $140,000 Closed 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

25. 2025-02-04
    status Pending 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

26. 2024-12-17
    status Active 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

27. 2024-12-16
    historical 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

28. 2024-10-11
    status Active 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

29. 2024-08-22
    status Pending 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

30. 2024-06-20
    status Active 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

31. 2023-10-04
    price $149,999 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

32. 2023-10-02
    listed $139,999 Active 262-char remark

    Show marketing remark (262 chars)

    Great opportunity for you to owner occupy this spacious Johnson City two-family, or add or begin your real estate investment portfolio. Nice area with sidewalks. Off-street parking and a backyard for outdoor recreation. Call your favorite Realtor to take a look!

33. 2002-03-08
    soldstatus $21,750

ⓘ 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: $4,235 · $353/mo
• Projected year-2 tax: $4,235 · $353/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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 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: $35,712
• − Mortgage interest: −$9,803
• − Property taxes: −$4,235
• − Insurance: −$1,542
• − Repairs & maintenance: −$2,857
• − Management: −$2,857
• − Depreciation: −$5,091
• Taxable income: $9,328
• Est. tax owed @ 24.0%: −$2,239
• After-tax cash flow: $9,185/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

+704.6% since first listed

15 events — show timeline

• 2026-03-31 Relisted — GBAOR
• 2025-12-03 Listed $175,000 GBAOR
• 2025-05-21 Sold (Public Records) $140,000 Public Records
• 2025-05-07 Pending — GBAOR
• 2025-05-07 Relisted — GBAOR
• 2025-05-02 Sold (MLS) $140,000 GBAOR
• 2025-02-04 Pending — GBAOR
• 2024-12-17 Relisted — GBAOR
• 2024-12-16 Delisted — GBAOR
• 2024-10-11 Relisted — GBAOR
• 2024-08-22 Pending — GBAOR
• 2024-06-20 Relisted — GBAOR
• 2023-10-04 Price Changed $149,999 GBAOR
• 2023-10-02 Listed $139,999 GBAOR
• 2002-03-08 Sold (Public Records) $21,750 Public Records

Property tax history

+2.2%/yr

Latest (2025): $4,235 · +1.7% YoY. Source: county tax records.