4 W Clinton St · Johnstown, NY 12095

$159,000

5 bd · 2.0 ba · 2,400 sqft · MultiFamily public records · 11 Days on market

Built 1928 2,613 sqft lot Est $132k · 20% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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

Well maintained two family with new roof 2017, newer thermal windows, new hot water tanks, new circuit breakers panels, large spacious attic and small enclosed back yard. The apartments are spacious and bright -- Very Good Condition

Key facts

• Washer dryer hookups
• 2,613 sq ft lot
• Built 1928

Tags

• WASHER DRYER HOOKUPS
• UPDATED KITCHEN FLOORING
• REFINISHED HARDWOOD FLOORS
• UPDATED BATHROOM VANITY
• UPDATED DELTA KITCHEN FAUCET
• NEW HOTPOINT GAS OVEN

Property features AI

Finance

• Financial info: Two-unit property

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Duplex; Approximately 2,400 living area; Vinyl siding
• Construction: Asphalt roof
• Exterior features: Front porch; Level lot; Lot dimensions approximately 40 x 68

Interior

• Kitchen: Each unit has a kitchen
• Bedrooms: Unit 1: 3 bedrooms (all on 1st floor); Unit 2: 2 bedrooms (on 2nd floor)
• Bathrooms: Two full bathrooms (one on 1st floor, one on 2nd floor)
• Heating & cooling: Forced air heating; Natural gas heating; Other heating
• Interior features: Full basement
• Laundry & utility: Laundry in basement; Laundry on upper level

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $159k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $559/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Cap rate 14.7% 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 $17k of equity ($1k loan paydown + $16k 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 $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $82k; list at $159k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,000

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 1928 — 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: 1.76% ✓
• Cap rate: 14.72%
• Cash-on-cash: 30.11%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $132,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Fon Clair St	0.35mi	5/2.0	2,448 (+2%)	7mo	$119,500	$49	74
23 N Perry St	0.25mi	4/2.0 (-1)	2,568 (+7%)	10mo	$204,000	$79	64
25 N Melcher St	0.35mi	4/2.0 (-1)	2,232 (-7%)	8mo	$74,000	$33	60
10 Hamilton St	0.40mi	5/3.0	2,528 (+5%)	10mo	$155,000	$61	60
25 N Perry St	0.26mi	4/2.0 (-1)	2,165 (-10%)	10mo	$64,000	$30	58
10 E Green St	0.27mi	4/2.0 (-1)	2,058 (-14%)	3mo	$113,000	$55	56
117 E Clinton St	0.25mi	6/3.0 (+1)	2,646 (+10%)	15mo	$125,000	$47	50
4 West St	0.53mi	6/2.0 (+1)	2,198 (-8%)	10mo	$120,000	$55	48
15 Water St	0.56mi	6/2.0 (+1)	2,688 (+12%)	2mo	$73,000	$27	47
106 Dove St	0.71mi	5/2.0	2,180 (-9%)	7mo	$127,000	$58	46
304 N Market St	0.50mi	4/2.0 (-1)	2,060 (-14%)	7mo	$143,630	$70	42
208 N Market St	0.46mi	6/4.0 (+1)	2,745 (+14%)	9mo	$115,000	$42	34

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: 47.2%
• Equity multiple: 4.54×
• Total profit: $157,786
• Equity at exit: $143,240

10-year hold

• IRR: 41.0%
• Equity multiple: 10.18×
• Total profit: $408,771
• Equity at exit: $308,902

Cash invested: $44,520 (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: 9.5×

Monthly cashflow live

• Estimated rent: $2,793 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$189 /mo · $2,271/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $1,117

Break-even live

Break-even rent $1,379

Max offer price $159,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,207	-5% $1,162	+0% $1,117	+5% $1,072	+10% $1,027
Rent	-10% $897	-5% $1,007	+0% $1,117	+5% $1,228	+10% $1,338
Rate	-1.0pp $1,197	-0.5pp $1,158	base $1,117	+0.5pp $1,076	+1.0pp $1,034

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,794
Total (2 units)			$2,793

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-23
   status Pending
2. 2026-05-12
   listed $159,000 Active
3. 2019-02-21
   soldstatus $82,500
4. 2018-12-28
   soldstatus $82,500 Closed (Final Sale) 233-char remark

   Show marketing remark (233 chars)

   Well maintained two family with new roof 2017, newer thermal windows, new hot water tanks, new circuit breakers panels, large spacious attic and small enclosed back yard. The apartments are spacious and bright -- Very Good Condition

5. 2018-11-20
   status Pend (Under Cntr) 233-char remark

   Show marketing remark (233 chars)

   Well maintained two family with new roof 2017, newer thermal windows, new hot water tanks, new circuit breakers panels, large spacious attic and small enclosed back yard. The apartments are spacious and bright -- Very Good Condition

6. 2018-10-23
   listed $89,500 New 233-char remark

   Show marketing remark (233 chars)

   Well maintained two family with new roof 2017, newer thermal windows, new hot water tanks, new circuit breakers panels, large spacious attic and small enclosed back yard. The apartments are spacious and bright -- Very Good Condition

ⓘ 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: $2,271 · $189/mo
• Projected year-2 tax: $2,479 · $207/mo
• Expected delta: +$208/yr (+$17/mo · 9.2%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $33,516
• − Mortgage interest: −$8,906
• − Property taxes: −$2,271
• − Insurance: −$795
• − Repairs & maintenance: −$2,681
• − Management: −$2,681
• − Depreciation: −$4,625
• Taxable income: $11,556
• Est. tax owed @ 24.0%: −$2,773
• After-tax cash flow: $10,633/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

+77.7% since first listed

6 events — show timeline

• 2026-05-23 Pending — Global MLS
• 2026-05-12 Listed $159,000 Global MLS
• 2019-02-21 Sold (Public Records) $82,500 Public Records
• 2018-12-28 Sold (MLS) $82,500 Global MLS
• 2018-11-20 Pending — Global MLS
• 2018-10-23 Listed $89,500 Global MLS

Property tax history

+7.2%/yr

Latest (2025): $2,271 · +5.8% YoY. Source: county tax records.