204 Glebe St · Johnstown, NY 12095

$99,900

1 bd · 1.0 ba · 1,708 sqft · SingleFamily public records · 112 Days on market

Built 1900 Fair condition 5,227 sqft lot $58/sqft · 52% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Spacious 4-5 bedroom single-family home located in the heart of the city, featuring 2 bathrooms. This property offers generously sized bedrooms, including a master suite with a private bathroom. Washer and dryer hookups are available for your convenience. Enjoy a large backyard--perfect for outdoor activities and entertaining. Cash or conventional, being sold as is, inspections are for buyer's info only.

Key facts

• 5,227 sq ft lot
• 5 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 4.8% 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.
• Zoned schools: Johnstown Junior-Senior High School (math 45% / reading 49%, grade D-, #1,007 of 1,100 statewide, top 93%, 675 students, 51% FRL) — zoned schools average 51% FRL vs 34% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 144 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 112 units permitted in Fulton County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($691 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.60% ✓
• Cap rate: 12.14%
• Cash-on-cash: 20.89%
• DSCR: 1.93
• GRM: 5.2

CMA / ARV

• ARV (median comp): $207,048
• List price: $99,900
• Delta: -51.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 E Fourth Ave	0.49mi	2/1.5 (+1)	1,288 (-25%)	2mo	$125,000	$97	44
8 Woodland Dr	0.63mi	2/3.0 (+1)	1,560 (-9%)	7mo	$145,000	$93	37
519 N Market St	0.88mi	2/1.0 (+1)	1,288 (-25%)	9mo	$94,600	$73	27
17 Crescendoe Rd	0.58mi	2/1.0 (+1)	1,932 (+13%)	29mo	$162,900	$84	26
48 Pewter Ln	1.31mi	2/2.0 (+1)	1,318 (-23%)	12mo	$425,000	$322	21
103 County Highway 148	0.73mi	2/1.5 (+1)	1,410 (-17%)	22mo	$162,000	$115	16
34 Briggs St	0.71mi	2/2.0 (+1)	1,982 (+16%)	21mo	$120,000	$61	15
141 Fon Clair Ter	0.81mi	2/2.0 (+1)	1,938 (+14%)	25mo	$320,000	$165	14

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: 39.9%
• Equity multiple: 4.06×
• Total profit: $85,495
• Equity at exit: $89,998

10-year hold

• IRR: 34.4%
• Equity multiple: 9.13×
• Total profit: $227,531
• Equity at exit: $194,084

Cash invested: $27,972 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 2 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12095

• Home prices YoY: 3.8%
• Active inventory: 144
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,595 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$208 /mo · $2,491/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $487

Break-even live

Break-even rent $979

Max offer price $99,900

Occupancy floor 64%

Sensitivity live

Price	-10% $543	-5% $515	+0% $487	+5% $459	+10% $430
Rent	-10% $361	-5% $424	+0% $487	+5% $550	+10% $613
Rate	-1.0pp $537	-0.5pp $512	base $487	+0.5pp $461	+1.0pp $435

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: $24,975
• Closing costs: $2,997
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
409 S Melcher St Unit 4 Johnstown, NY	2.0	1.0	1500	$1,595	$1.06	2d	1	0.54mi

Property features AI

Exterior

• Parking: Five parking spaces
• Utilities: Public waterPublic sewerElectric service with circuit breakers
• Home design: Single family residenceLiving area approximately 1,708
• Construction: Vinyl siding
• Exterior features: Backyard fencingPaved driveway

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Four bedrooms on the second floorOne bedroom on the first floor
• Bathrooms: One full bathroom (located on the second floor)
• Heating & cooling: Forced air heatingWindow unit cooling
• Interior features: Storm door(s)Full basement

Listing history 50 events

1. 2026-08-18
   days on market $99,900 Active 112 DOM
2. 2026-08-17
   days on market $99,900 Active 111 DOM
3. 2026-08-16
   days on market $99,900 Active 110 DOM
4. 2026-08-15
   days on market $99,900 Active 109 DOM
5. 2026-08-14
   days on market $99,900 Active 108 DOM
6. 2026-08-13
   days on market $99,900 Active 107 DOM
7. 2026-08-12
   days on market $99,900 Active 106 DOM
8. 2026-08-11
   days on market $99,900 Active 105 DOM
9. 2026-08-10
   days on market $99,900 Active 104 DOM
10. 2026-08-09
    days on market $99,900 Active 103 DOM
11. 2026-08-08
    days on market $99,900 Active 102 DOM
12. 2026-08-07
    days on market $99,900 Active 101 DOM
13. 2026-08-06
    days on market $99,900 Active 100 DOM
14. 2026-08-05
    days on market $99,900 Active 99 DOM
15. 2026-08-04
    days on market $99,900 Active 98 DOM
16. 2026-08-03
    days on market $99,900 Active 97 DOM
17. 2026-07-31
    days on market $99,900 Active 94 DOM
18. 2026-07-29
    days on market $99,900 Active 92 DOM
19. 2026-07-27
    days on market $99,900 Active 90 DOM
20. 2026-07-25
    days on market $99,900 Active 88 DOM
21. 2026-07-24
    days on market $99,900 Active 87 DOM
22. 2026-07-23
    days on market $99,900 Active 86 DOM
23. 2026-07-22
    days on market $99,900 Active 85 DOM
24. 2026-07-21
    days on market $99,900 Active 84 DOM
25. 2026-07-20
    days on market $99,900 Active 83 DOM
26. 2026-07-18
    days on market $99,900 Active 81 DOM
27. 2026-07-16
    days on market $99,900 Active 79 DOM
28. 2026-07-15
    days on market $99,900 Active 78 DOM
29. 2026-07-14
    days on market $99,900 Active 77 DOM
30. 2026-07-13
    days on market $99,900 Active 76 DOM
31. 2026-07-12
    days on market $99,900 Active 75 DOM
32. 2026-07-12
    days on market $99,900 Active 74 DOM
33. 2026-07-10
    days on market $99,900 Active 73 DOM
34. 2026-07-09
    days on market $99,900 Active 72 DOM
35. 2026-07-07
    days on market $99,900 Active 70 DOM
36. 2026-07-06
    days on market $99,900 Active 69 DOM
37. 2026-07-05
    days on market $99,900 Active 68 DOM
38. 2026-07-05
    days on market $99,900 Active 67 DOM
39. 2026-07-03
    days on market $99,900 Active 66 DOM
40. 2026-07-02
    days on market $99,900 Active 65 DOM
41. 2026-07-01
    days on market $99,900 Active 64 DOM
42. 2026-06-30
    days on market $99,900 Active 63 DOM
43. 2026-06-29
    days on market $99,900 Active 62 DOM
44. 2026-06-28
    days on market $99,900 Active 61 DOM
45. 2026-06-27
    days on market $99,900 Active 60 DOM
46. 2026-06-26
    days on market $99,900 Active 59 DOM
47. 2026-06-22
    days on market $99,900 Active 55 DOM
48. 2026-06-21
    days on market $99,900 Active 54 DOM
49. 2026-06-21
    days on market $99,900 Active 53 DOM
50. 2026-06-18
    days on market $99,900 Active 51 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: $2,491 · $208/mo
• Projected year-2 tax: $2,491 · $208/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 3% 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: $19,140
• − Mortgage interest: −$5,596
• − Property taxes: −$2,491
• − Insurance: −$500
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$2,906
• Taxable income: $4,585
• Est. tax owed @ 24.0%: −$1,100
• After-tax cash flow: $4,743/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $42,700–$76,860 screening

This single-family home requires moderate renovations, including painting, flooring updates, landscaping, and siding repairs. With these improvements, it can significantly increase its resale and rental value.

Repairs flagged

• Major Paint — Chipped and peeling in multiple areas.
• Major Flooring — Worn and showing signs of age.
• Major Landscaping — Overgrown and needs trimming and landscaping improvements.
• Moderate Siding — Weathered and some discoloration visible.
• Minor Roof — Appears intact but aged and may need inspection for minor issues.

Value-add opportunities

• Both Painting and updating the exterior — Fresh paint and landscaping will enhance curb appeal and attract more buyers. ↑
• Both Floor refinishing — Refinished hardwood floors will improve the home's appearance and value. ↑
• Both Landscaping improvements — A well-maintained yard will increase the home's curb appeal and attract more buyers. ↑
• Both Siding repair or replacement — A fresh, well-maintained exterior will improve the home's curb appeal and attract more buyers. ↑
• Both Roof inspection — A fresh roof will improve the home's appearance and reduce potential future maintenance costs. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Warren Street School F NY #1,561/2,108 Nat'l #22,595/41,679 High Johnstown Junior-Senior High School D- NY #1,007/1,100 Nat'l #6,330/17,239

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

B Composite livability gradescore 78/100

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
• County: Fulton · 51,132 people
• Population (ZIP): 12,013
• Household income: $69,864
• Rent vs Own: 33.4% rent · 66.6% own
• Severe rent burden: 7% of renters

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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%

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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%

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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

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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

Property features AI

Exterior

• Parking: Five parking spaces
• Utilities: Public waterPublic sewerElectric service with circuit breakers
• Home design: Single family residenceLiving area approximately 1,708
• Construction: Vinyl siding
• Exterior features: Backyard fencingPaved driveway

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Four bedrooms on the second floorOne bedroom on the first floor
• Bathrooms: One full bathroom (located on the second floor)
• Heating & cooling: Forced air heatingWindow unit cooling
• Interior features: Storm door(s)Full basement

Price history

1 event — show timeline

• 2026-04-26 Listed $99,900 Global MLS

Property tax history

+12.7%/yr

Latest (2025): $2,491 · +5.8% YoY. Source: county tax records.