390 Conklin Ave · Binghamton, NY 13903

$69,999

2 bd · 1.0 ba · 700 sqft · SingleFamily public records · 2 Days on market

Built 1949 6,969 sqft lot Est $104k · 32% 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 +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Single-level ranch with 2 bedrooms and 1 full bath, offering a practical layout and solid opportunity in the City of Binghamton. The home features a living room, kitchen, dedicated laundry area, and 700 square feet of finished space. Public water and sewer, gas forced-air heat, aluminum siding, and a slab foundation add to the straightforward upkeep. Outside, the property includes driveway parking, a covered porch, open deck, shed, and a 0.16-acre lot with shrubs, flowers, and mature trees. Convenient location with potential for an owner-occupant, rental, or investment property.

Key facts

• Covered porch
• Open deck
• Shed

Tags

• DEDICATED LAUNDRY AREA
• COVERED PORCH
• OPEN DECK
• SHED
• 0.16-ACRE LOT
• MATURE TREES

Property features AI

Finance

• Other: Property listed by EXIT REALTY HOMEWARD BOUND

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Residential property
• Construction: Aluminum siding; Slab foundation; 700 above-grade finished area
• Exterior features: Covered porch; Deck; Shed(s); Sloped-up lot

Interior

• Kitchen: Range; Free-standing range; Refrigerator; Gas water heater
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: High-speed internet
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 14.3% vs local median 6.4% in Binghamton — 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 (#174 in NY, #2,710 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Binghamton City School District (urban): math 30% / reading 44% proficiency, ranked #557 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Benjamin Franklin Elementary School (math 17% / reading 32%, grade F, #1,846 of 2,108 statewide, top 91%, 399 students, 75% FRL).
• Zoned-school proficiency averages 24% at this address vs 37% district-wide (-12 pts) — the specific schools serving this property underperform the Binghamton City School District average; the district grade overstates school quality for this exact location.
• Market conditions: 112 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($484 loan paydown + $7k 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 + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,999

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 1.71% ✓
• Cap rate: 14.26%
• Cash-on-cash: 28.44%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $103,600
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Dewey Ave	0.18mi	2/1.0	720 (+3%)	21mo	$88,000	$122	69
13 Richmond Ave	0.13mi	2/1.0	609 (-13%)	9mo	$90,425	$148	65

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: 45.8%
• Equity multiple: 4.46×
• Total profit: $67,726
• Equity at exit: $63,061

10-year hold

• IRR: 39.8%
• Equity multiple: 9.99×
• Total profit: $176,213
• Equity at exit: $135,993

Cash invested: $19,600 (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 13903

• Home prices YoY: 4.3%
• Active inventory: 112
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,200 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $465

Break-even live

Break-even rent $612

Max offer price $69,999

Occupancy floor 56%

Sensitivity live

Price	-10% $513	-5% $489	+0% $465	+5% $440	+10% $416
Rent	-10% $370	-5% $417	+0% $465	+5% $512	+10% $559
Rate	-1.0pp $500	-0.5pp $482	base $465	+0.5pp $446	+1.0pp $428

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Louisa St Binghamton, NY	1.0	1.0	600	$950	$1.58	14d	1	0.86mi
231 Conklin Ave #2 Binghamton, NY	3.0	1.0	700	$1,350	$1.93	44d	1	0.87mi
198 Court St Unit 6 Binghamton, NY	2.0	1.0	700	$1,350	$1.93	21d	1	1.26mi
198 Court St Unit 6 Binghamton, NY	2.0	1.0	550	$1,350	$2.45	44d	1	1.26mi
198 Court St Unit 10 Binghamton, NY	2.0	1.0	550	$1,250	$2.27	44d	1	1.26mi
198 Court St Unit 10 Binghamton, NY	2.0	1.0	700	$1,200	$1.71	21d	1	1.26mi
198 Court St Unit 11 Binghamton, NY	2.0	1.0	550	$1,300	$2.36	44d	1	1.26mi
274 Chenango St Unit 4 Binghamton, NY	1.0	1.0	550	$950	$1.73	14d	1	1.35mi
23 High St Binghamton, NY	2.0	1.0	400	$1,000	$2.50	14d	1	1.42mi

Listing history 3 events

1. 2026-06-19
   days on market $69,999 Active 2 DOM
2. 2026-06-17
   remarks 585-char remark
3. 2026-06-17
   listed $69,999 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥92°F today · 16 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: $14,404
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$2,036
• Taxable income: $4,742
• Est. tax owed @ 24.0%: −$1,138
• After-tax cash flow: $4,436/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: Binghamton City School District
• NCES district ID: 3604870
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 44% ▲ 15.00%
• Median HH income: $30,475
• Composite: 30.09/100
• National rank: #6342
• State rank: #557 of 590 in NY

Livability — Binghamton

• Score: 78/100
• State rank: #174
• US rank: #2710

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Binghamton, NY
• County: Broome County · 126,805 people
• City population: 65,170
• Metro: Binghamton, NY
• Population (ZIP): 17,569
• Household income: $66,278
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 602.0

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 (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 6% Slovak 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

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: ▲ 11.68%
• Current HPI: 286.1001
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-17 Listed $69,999 GBAOR

Property tax history

+7.2%/yr

Latest (2025): $4,484 · +0.9% YoY. Source: county tax records.