188 N Broad St · Johnson City, NY 13790

$295,000

4 bd · 2.0 ba · 2,208 sqft · MultiFamily public records · 122 Days on market

Built 1919 7,405 sqft lot $134/sqft · 29% above area Est $228k · 29% over

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Why this score? — see what drove the D+ 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 +13.2/30.0
• Appreciation +10.0/10.0
• Rent growth +4.9/5.0
• 1% rule +4.3/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• 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

Looking to upgrade your real estate portfolio? This well-maintained two-family with a great rental history could be the addition you've sought. The two identical units are ideal for tenant or owner-occupant comfort with eat-in kitchens, spacious and bright rooms, LED lighting, laundry, and covered decks for outdoor enjoyment. The second story got a mini makeover in 2022 with new LVP flooring and a new refrigerator, as did the first floor in 2024. Both units have a washer/dryer, and the first-floor washer is new as of 2/2024. Brand new boiler put in March 2026! Conveniently located to services in a lovely neighborhood with sidewalks and mature trees.

Key facts

• Identical units
• Led lighting
• Spacious rooms

Tags

• GREAT RENTAL HISTORY
• IDENTICAL UNITS
• EAT IN KITCHENS
• SPACIOUS ROOMS
• BRIGHT ROOMS
• LED LIGHTING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $-61 ($-736/yr) — negative. Per door: $-31/mo.
• To cash-flow at today's rent, offer at most $284k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (6.6% below list).
• Recommended offer: $260k (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); 102 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $32k of equity ($2k loan paydown + $30k 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 $83k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $295k implies a 260% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $259,600 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.93% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.08%
• DSCR: 1.00
• GRM: 8.9

CMA / ARV

• ARV (median comp): $228,184
• List price: $295,000
• Delta: 29.28%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 North St	0.27mi	4/2.0	1,960 (-11%)	6mo	$140,000	$71	63
378 Prospect St	0.72mi	4/4.0	2,214 (+0%)	9mo	$171,000	$77	50

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: 25.5%
• Equity multiple: 3.08×
• Total profit: $171,484
• Equity at exit: $265,759

10-year hold

• IRR: 24.0%
• Equity multiple: 7.59×
• Total profit: $544,456
• Equity at exit: $573,120

Cash invested: $82,600 (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: 102
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $2,755 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$512 /mo · $6,147/yr
• Insurance: −$123
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$579
• Net cashflow: $-61

Break-even live

Break-even rent $2,833

Max offer price $284,170

Occupancy floor 97%

Sensitivity live

Price	-10% $106	-5% $22	+0% $-61	+5% $-145	+10% $-228
Rent	-10% $-279	-5% $-170	+0% $-61	+5% $48	+10% $156
Rate	-1.0pp $87	-0.5pp $14	base $-61	+0.5pp $-138	+1.0pp $-216

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,754
Total (2 units)			$2,755

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: $73,750
• Closing costs: $8,850
• 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	23d	1	0.69mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	15d	1	1.12mi
57 Fowler Ave Johnson City, NY	3.0	2.5	2497	$2,000	$0.80	15d	1	1.36mi

Listing history 26 events

1. 2026-06-21
   days on market $295,000 Active 122 DOM
2. 2026-06-19
   days on market $295,000 Active 120 DOM
3. 2026-06-18
   days on market $295,000 Active 119 DOM
4. 2026-06-17
   days on market $295,000 Active 118 DOM
5. 2026-06-16
   days on market $295,000 Active 117 DOM
6. 2026-06-15
   days on market $295,000 Active 116 DOM
7. 2026-06-14
   days on market $295,000 Active 114 DOM
8. 2026-06-13
   days on market $295,000 Active 113 DOM
9. 2026-06-10
   days on market $295,000 Active 111 DOM
10. 2026-06-09
    days on market $295,000 Active 110 DOM
11. 2026-06-08
    days on market $295,000 Active 109 DOM
12. 2026-06-07
    days on market $295,000 Active 108 DOM
13. 2026-06-05
    days on market $295,000 Active 105 DOM
14. 2026-06-03
    days on market $295,000 Active 104 DOM
15. 2026-06-02
    days on market $295,000 Active 103 DOM
16. 2026-06-01
    days on market $295,000 Active 102 DOM
17. 2026-05-31
    days on market $295,000 Active 101 DOM
18. 2026-05-30
    days on market $295,000 Active 100 DOM
19. 2026-02-19
    listed $295,000 Active 657-char remark

    Show marketing remark (657 chars)

    Looking to upgrade your real estate portfolio? This well-maintained two-family with a great rental history could be the addition you've sought. The two identical units are ideal for tenant or owner-occupant comfort with eat-in kitchens, spacious and bright rooms, LED lighting, laundry, and covered decks for outdoor enjoyment. The second story got a mini makeover in 2022 with new LVP flooring and a new refrigerator, as did the first floor in 2024. Both units have a washer/dryer, and the first-floor washer is new as of 2/2024. Brand new boiler put in March 2026! Conveniently located to services in a lovely neighborhood with sidewalks and mature trees.

20. 2024-11-20
    listed $275,000 Active
21. 2017-03-13
    soldstatus $82,000
22. 2017-03-10
    soldstatus $82,000
23. 2016-09-20
    listed $85,000
24. 2015-10-04
    listed $95,000
25. 2015-02-27
    listed $97,000
26. 2005-12-16
    soldstatus $97,500

ⓘ 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: $6,147 · $512/mo
• Projected year-2 tax: $6,147 · $512/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 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 18 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: $33,060
• − Mortgage interest: −$16,525
• − Property taxes: −$6,147
• − Insurance: −$2,142
• − Repairs & maintenance: −$2,645
• − Management: −$2,645
• − Depreciation: −$8,582
• Taxable loss: −$5,625
• Est. tax savings @ 24.0%: +$1,350
• After-tax cash flow: $614/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

+202.6% since first listed

8 events — show timeline

• 2026-02-19 Listed $295,000 GBAOR
• 2024-11-20 Listed $275,000 GBAOR
• 2017-03-13 Sold (Public Records) $82,000 Public Records
• 2017-03-10 Sold (MLS) $82,000 GBAOR
• 2016-09-20 Listed $85,000 GBAOR
• 2015-10-04 Listed $95,000 GBAOR
• 2015-02-27 Listed $97,000 GBAOR
• 2005-12-16 Sold (Public Records) $97,500 Public Records

Property tax history

+2.2%/yr

Latest (2025): $6,147 · +1.7% YoY. Source: county tax records.