25 N Perry St · Johnstown, NY 12095

$95,000

4 bd · 2.0 ba · 2,165 sqft · MultiFamily public records · 3 Days on market

Built 1875 2,178 sqft lot Est $130k · 27% 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
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• 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

Invest in yourself this year! This home does need quite a bit of work but offers a golden opportunity to buy a 2-family home on a corner lot. Already outfitted with separate utilities and newer furnaces/hot water heaters. Features large open kitchens with a garage. SOLD AS IS, Go and see the potential

Key facts

• New electrical
• Gas line
• Corner lot

Tags

• CORNER LOT
• NEW ELECTRICAL
• GAS LINE
• ZONE FORCED AIR NG FURNACE

Property features AI

Finance

• Financial info: Two-unit property

Exterior

• Parking: Attached garage (1 garage space); Total 2 parking spaces; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Duplex; Living area approximately 2,165
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Corner lot

Interior

• Bedrooms: Unit 1: 3 total rooms (contains bedroom count not specified); Unit 2: 4 bedrooms
• Flooring: Hardwood
• Bathrooms: Two full bathrooms (one on the 1st floor, one on the 2nd floor); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Hardwood floors; Full basement
• Laundry & utility: Laundry in basement; Other laundry feature

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $737/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $95k).
• Cap rate 24.9% 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 $10k of equity ($657 loan paydown + $10k 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 $27k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts 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 $64k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

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 1875 — 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: 2.89% ✓
• Cap rate: 24.91%
• Cash-on-cash: 66.48%
• DSCR: 3.96
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $129,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 N Perry St	0.00mi	4/2.0	2,165 (0%)	10mo	$64,000	$30	92
10 E Green St	0.07mi	4/2.0	2,058 (-5%)	3mo	$113,000	$55	86
25 N Melcher St	0.23mi	4/2.0	2,232 (+3%)	8mo	$74,000	$33	77
304 N Market St	0.25mi	4/2.0	2,060 (-5%)	7mo	$143,630	$70	74
106 Dove St	0.46mi	5/2.0 (+1)	2,180 (+1%)	7mo	$127,000	$58	67
6 E Clinton St	0.26mi	4/2.0	2,080 (-4%)	19mo	$119,000	$57	66
12 1/2 E Clinton St	0.27mi	4/2.0	1,840 (-15%)	4mo	$149,900	$81	59
317 W Clinton St	0.38mi	4/2.0	1,984 (-8%)	16mo	$120,000	$60	55
107 Prospect St	0.37mi	4/2.0	1,936 (-11%)	16mo	$160,000	$83	52
8 Fon Clair St	0.33mi	5/2.0 (+1)	2,448 (+13%)	7mo	$119,500	$49	52
30 Cady St	0.51mi	4/2.0	1,988 (-8%)	17mo	$169,600	$85	49
28 W Madison Ave	0.48mi	4/2.5	2,348 (+8%)	16mo	$165,000	$70	48

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: 77.9%
• Equity multiple: 6.48×
• Total profit: $145,662
• Equity at exit: $85,584

10-year hold

• IRR: 72.0%
• Equity multiple: 14.36×
• Total profit: $355,277
• Equity at exit: $184,564

Cash invested: $26,600 (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 12095

• Home prices YoY: 3.8%
• Active inventory: 82
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,749 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$160 /mo · $1,924/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $1,474

Break-even live

Break-even rent $884

Max offer price $95,000

Occupancy floor 41%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,748
Total (2 units)			$2,749

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $95,000 Active 3 DOM
2. 2026-06-17
   days on market $95,000 Active 2 DOM
3. 2026-06-16
   remarks 190-char remark
4. 2026-06-16
   listed $95,000 Active 1 DOM

ⓘ 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: $1,924 · $160/mo
• Projected year-2 tax: $1,924 · $160/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 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: $32,988
• − Mortgage interest: −$5,321
• − Property taxes: −$1,924
• − Insurance: −$475
• − Repairs & maintenance: −$2,639
• − Management: −$2,639
• − Depreciation: −$2,764
• Taxable income: $17,226
• Est. tax owed @ 24.0%: −$4,134
• After-tax cash flow: $13,549/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

+287.8% since first listed

12 events — show timeline

• 2026-06-15 Listed $95,000 Global MLS
• 2025-08-22 Sold (MLS) $64,000 Global MLS
• 2025-07-25 Pending — Global MLS
• 2025-07-18 Relisted — Global MLS
• 2025-06-28 Pending — Global MLS
• 2025-06-25 Relisted — Global MLS
• 2025-05-14 Relisted — Global MLS
• 2025-04-04 Contingent — Global MLS
• 2025-04-04 Listing Removed — Global MLS
• 2025-03-24 Listed $64,900 Global MLS
• 2005-07-13 Sold (Public Records) $40,563 Public Records
• 1999-02-16 Sold (Public Records) $24,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,924 · +5.8% YoY. Source: county tax records.