107 Dove St · Johnstown, NY 12095

$185,000

5 bd · 2.0 ba · 2,525 sqft · MultiFamily public records · 111 Days on market

Built 1960 6,534 sqft lot

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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
• ARV discount +7.5/15.0
• 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

A must see two family that has undergone significant renovations. 1st floor features a foyer, living room, dining room, 2 bedrooms, new bathroom with jacuzzi tub, kitchen with SS appliances and granite countertops & Laundry room. The second-floor apartment features living room, dining room, 2 bedrooms, new bathroom & kitchen. The second floor has access to an attic apartment that features a large bedroom, living room and kitchenette area. New flooring/carpets throughout. The grounds feature mature landscaping with a decorative hardscape patio & fire pit area. Garage and basketball court. Vinyl siding/new exterior door to many upgrades to list! Great owner-occupied home or investment property for your portfolio.

Key facts

• Investment property
• Two-family home
• Thoughtful layout

Tags

• TWO-FAMILY HOME
• INVESTMENT PROPERTY
• STRONG RENTAL APPEAL
• THOUGHTFUL LAYOUT
• SOLID LAYOUT DESIGN

Property features AI

Finance

• Financial info: Multifamily property with 2 units; Tenants pay cable TV and electricity

Exterior

• Parking: 1 garage space; Total of 4 parking spaces; Driveway
• Utilities: Public water; Public sewer
• Home design: Duplex; 2,020 living area (reported)
• Construction: Construction: Other
• Exterior features: Front porch; Asphalt roof

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms
• Bathrooms: 2 full bathrooms total (one full bath on 1st level, one full bath on 2nd level); Unit 1: 1 full bath; Unit 2: 1 full bath
• Heating & cooling: Forced air heating; Natural gas heating; Other heating
• Interior features: Full unfinished basement; Level lot (site is level)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $961 ($12k/yr) — positive. Per door: $481/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $168k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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 $20k of equity ($1k loan paydown + $18k 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 $52k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $168,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.53% ✓
• Cap rate: 12.53%
• Cash-on-cash: 22.27%
• DSCR: 1.99
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $111,100
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Water St	0.23mi	6/2.0 (+1)	2,688 (+6%)	2mo	$73,000	$27	71
106 Dove St	0.03mi	5/2.0	2,180 (-14%)	7mo	$127,000	$58	70
23 N Perry St	0.47mi	4/2.0 (-1)	2,568 (+2%)	10mo	$204,000	$79	62
8 Fon Clair St	0.59mi	5/2.0	2,448 (-3%)	7mo	$119,500	$49	62
208 N Market St	0.30mi	6/4.0 (+1)	2,745 (+9%)	9mo	$115,000	$42	51
13 S Chase St	0.64mi	4/2.0 (-1)	2,603 (+3%)	18mo	$90,000	$35	44
25 N Melcher St	0.55mi	4/2.0 (-1)	2,232 (-12%)	8mo	$74,000	$33	43
25 N Perry St	0.46mi	4/2.0 (-1)	2,165 (-14%)	10mo	$64,000	$30	41
117 E Clinton St	0.68mi	6/3.0 (+1)	2,646 (+5%)	15mo	$125,000	$47	39
2 School St	0.68mi	5/2.0	2,750 (+9%)	24mo	$120,000	$44	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: 41.0%
• Equity multiple: 4.13×
• Total profit: $162,008
• Equity at exit: $166,663

10-year hold

• IRR: 35.3%
• Equity multiple: 9.28×
• Total profit: $429,023
• Equity at exit: $359,414

Cash invested: $51,800 (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: 10.9×

Monthly cashflow live

• Estimated rent: $2,825 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$223 /mo · $2,681/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $961

Break-even live

Break-even rent $1,608

Max offer price $185,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,824
Total (2 units)			$2,825

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-04-08
   price $185,000
2. 2026-02-04
   listed $195,000 Active
3. 2024-08-09
   soldstatus $155,000
4. 2024-08-08
   soldstatus $155,000 Closed 736-char remark

   Show marketing remark (736 chars)

   A must see two family that has undergone significant renovations. 1st floor features a foyer, living room, dining room, 2 bedrooms, new bathroom with jacuzzi tub, kitchen with SS appliances and granite countertops & Laundry room. The second-floor apartment features living room, dining room, 2 bedrooms, new bathroom & kitchen. The second floor has access to an attic apartment that features a large bedroom, living room and kitchenette area. New flooring/carpets throughout. The grounds feature mature landscaping with a decorative hardscape patio & fire pit area. Garage and basketball court. Vinyl siding/new exterior door to many upgrades to list! Great owner-occupied home or investment property for your portfolio.

5. 2024-06-15
   status Pending 736-char remark

   Show marketing remark (736 chars)

   A must see two family that has undergone significant renovations. 1st floor features a foyer, living room, dining room, 2 bedrooms, new bathroom with jacuzzi tub, kitchen with SS appliances and granite countertops & Laundry room. The second-floor apartment features living room, dining room, 2 bedrooms, new bathroom & kitchen. The second floor has access to an attic apartment that features a large bedroom, living room and kitchenette area. New flooring/carpets throughout. The grounds feature mature landscaping with a decorative hardscape patio & fire pit area. Garage and basketball court. Vinyl siding/new exterior door to many upgrades to list! Great owner-occupied home or investment property for your portfolio.

6. 2024-06-13
   listed $149,999 Active 736-char remark

   Show marketing remark (736 chars)

   A must see two family that has undergone significant renovations. 1st floor features a foyer, living room, dining room, 2 bedrooms, new bathroom with jacuzzi tub, kitchen with SS appliances and granite countertops & Laundry room. The second-floor apartment features living room, dining room, 2 bedrooms, new bathroom & kitchen. The second floor has access to an attic apartment that features a large bedroom, living room and kitchenette area. New flooring/carpets throughout. The grounds feature mature landscaping with a decorative hardscape patio & fire pit area. Garage and basketball court. Vinyl siding/new exterior door to many upgrades to list! Great owner-occupied home or investment property for your portfolio.

7. 2024-02-29
   soldstatus $80,000
8. 2024-02-19
   soldstatus $80,000 Closed 213-char remark

   Show marketing remark (213 chars)

   This is a fab opportunity for homebuyers looking for a 2-family as well as investors seeking solid cash flow. Ideal For Owner- Occupied Or Investment Property. 2 bedroom / 1 full bath each unit This is a must see!

9. 2024-02-15
   status Pending 213-char remark

   Show marketing remark (213 chars)

   This is a fab opportunity for homebuyers looking for a 2-family as well as investors seeking solid cash flow. Ideal For Owner- Occupied Or Investment Property. 2 bedroom / 1 full bath each unit This is a must see!

10. 2024-01-16
    historical Contingent 213-char remark

    Show marketing remark (213 chars)

    This is a fab opportunity for homebuyers looking for a 2-family as well as investors seeking solid cash flow. Ideal For Owner- Occupied Or Investment Property. 2 bedroom / 1 full bath each unit This is a must see!

11. 2024-01-05
    listed $79,977 Active 213-char remark

    Show marketing remark (213 chars)

    This is a fab opportunity for homebuyers looking for a 2-family as well as investors seeking solid cash flow. Ideal For Owner- Occupied Or Investment Property. 2 bedroom / 1 full bath each unit This is a must see!

ⓘ 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: $2,681 · $223/mo
• Projected year-2 tax: $2,904 · $242/mo
• Expected delta: +$223/yr (+$19/mo · 8.3%)

ⓘ 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 3/10 Moderate
• 🌡 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: $33,900
• − Mortgage interest: −$10,363
• − Property taxes: −$2,681
• − Insurance: −$925
• − Repairs & maintenance: −$2,712
• − Management: −$2,712
• − Depreciation: −$5,382
• Taxable income: $9,126
• Est. tax owed @ 24.0%: −$2,190
• After-tax cash flow: $9,343/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

+131.3% since first listed

11 events — show timeline

• 2026-04-08 Price Changed $185,000 Global MLS
• 2026-02-04 Listed $195,000 Global MLS
• 2024-08-09 Sold (Public Records) $155,000 Public Records
• 2024-08-08 Sold (MLS) $155,000 Global MLS
• 2024-06-15 Pending — Global MLS
• 2024-06-13 Listed $149,999 Global MLS
• 2024-02-29 Sold (Public Records) $80,000 Public Records
• 2024-02-19 Sold (MLS) $80,000 Global MLS
• 2024-02-15 Pending — Global MLS
• 2024-01-16 Contingent — Global MLS
• 2024-01-05 Listed $79,977 Global MLS

Property tax history

+10.4%/yr

Latest (2025): $2,681 · +52.5% YoY. Source: county tax records.