154 Saint Charles St · Johnson City, NY 13790

$109,900

2 bd · 2.0 ba · 2,026 sqft · MultiFamily public records · 36 Days on market

Built 1904 0.32 ac lot $54/sqft · 44% below area Est $198k · 44% under ↓ 15% since listing

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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: 1 unit. estimate disagrees with records

Listing remarks

Investor opportunity in the heart of Johnson City 154 St. Charles Street is offered at just $129,900 and is currently the second most affordable multi-family property on the market in Johnson City today. This fully occupied multi-family features long term tenants with current rents of $850 and $725 per month, generating steady cash flow from day one. Tenants pay all utilities except water, helping keep owner expenses low. Current annual taxes are approximately $4,700. Based on current rents and taxes, the property offers an approximate 11% cap rate before additional operating expenses. Whether you are looking to expand your portfolio, start investing, or secure a cash-flowing property in a

Key facts

• 0.32 acre lot
• Built 1904
• Listed 35 days

Property features AI

Finance

• Other: Zoning: res1
• Financial info: Two residential units with current rents: one unit rents for $850, the other for $725

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; Level lot
• Construction: Wood siding; Stone foundation; Built above grade finished area: 2,026
• Exterior features: Covered, enclosed porch

Interior

• Kitchen: Refrigerator
• Bedrooms: One unit with 3 bedrooms; One unit with 2 bedrooms
• Flooring: Carpet; Hardwood
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Forced air heating; Ceiling fans
• Interior features: Gas water heater; Refrigerator; Carpet and hardwood flooring; Basement
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $109,900 price doesn't fit this home's estimated sale value (~$197,667) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.9% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $2,625/mo this rent would consume 53% 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 $12k of equity ($760 loan paydown + $11k 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 $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.39% ✓
• Cap rate: 17.85%
• Cash-on-cash: 41.29%
• DSCR: 2.84
• GRM: 3.5

CMA / ARV

• ARV (median comp): $197,667
• List price: $109,900
• Delta: -44.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Hudson St	0.13mi	3/3.0 (+1)	2,206 (+9%)	8mo	$54,000	$24	63

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: 60.4%
• Equity multiple: 5.59×
• Total profit: $141,364
• Equity at exit: $99,007

10-year hold

• IRR: 56.2%
• Equity multiple: 13.93×
• Total profit: $398,017
• Equity at exit: $213,512

Cash invested: $30,772 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,625 high
• Mortgage (P&I): −$576
• Tax from tax record: −$393 /mo · $4,713/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $1,059

Break-even live

Break-even rent $1,285

Max offer price $109,900

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,626
Total (2 units)			$2,625

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
248 Main St Unit 2 Johnson City, NY	2.0	1.0	1650	$1,650	$1.00	13d	1	0.40mi
57 Fowler Ave Johnson City, NY	3.0	2.5	2497	$2,000	$0.80	13d	1	0.67mi
74 Matthews St Binghamton, NY	3.0	2.0	2510	$2,300	$0.92	20d	1	1.14mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	43d	1	1.43mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	43d	1	1.44mi
3613 Vestal Rd Vestal, NY	3.0	2.0	1590	$2,000	$1.26	13d	1	1.47mi

Listing history 18 events

1. 2026-06-19
   days on market $109,900 Active 36 DOM
2. 2026-06-18
   days on market $109,900 Active 35 DOM
3. 2026-06-17
   days on market $109,900 Active 34 DOM
4. 2026-06-16
   days on market $109,900 Active 33 DOM
5. 2026-06-15
   days on market $109,900 Active 32 DOM
6. 2026-06-14
   days on market $109,900 Active 30 DOM
7. 2026-06-13
   days on market $109,900 Active 29 DOM
8. 2026-06-10
   pricedays on market $109,900 Active 27 DOM
9. 2026-06-09
   days on market $129,900 Active 26 DOM
10. 2026-06-08
    days on market $129,900 Active 25 DOM
11. 2026-06-07
    days on market $129,900 Active 24 DOM
12. 2026-06-05
    days on market $129,900 Active 21 DOM
13. 2026-06-03
    days on market $129,900 Active 20 DOM
14. 2026-06-02
    days on market $129,900 Active 19 DOM
15. 2026-06-01
    days on market $129,900 Active 18 DOM
16. 2026-05-31
    days on market $129,900 Active 17 DOM
17. 2026-05-30
    days on market $129,900 Active 16 DOM
18. 2026-05-14
    listed $129,900 Active 923-char remark

ⓘ 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: $4,713 · $393/mo
• Projected year-2 tax: $4,713 · $393/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 2/10 Low FEMA zone X · 5% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 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: $31,500
• − Mortgage interest: −$6,156
• − Property taxes: −$4,713
• − Insurance: −$550
• − Repairs & maintenance: −$2,520
• − Management: −$2,520
• − Depreciation: −$3,197
• Taxable income: $11,844
• Est. tax owed @ 24.0%: −$2,843
• After-tax cash flow: $9,864/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

-15.4% since first listed

2 events — show timeline

• 2026-06-09 Price Changed $109,900 GBAOR
• 2026-05-14 Listed $129,900 GBAOR

Property tax history

+3.8%/yr

Latest (2025): $4,713 · +7.1% YoY. Source: county tax records.