10 Baxter St · Binghamton, NY 13905

$144,900

3 bd · 1.0 ba · 1,357 sqft · SingleFamily public records · 51 Days on market

Built 1920 2,613 sqft lot Est $178k · 18% under ↓ 22% since listing

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Why this score? — see what drove the C 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 +17.6/30.0
• ARV discount +15.0/15.0
• 1% rule +6.1/10.0
• DSCR +5.5/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This fully renovated 3-bedroom, 2 bath offers plenty of space for everyone. The first floor has large living room, kitchen, 1 bedroom and a full bath. The second floor offers 2 good sized bedrooms and a full bath. Both bathrooms, Windows and appliances have all been updated/remodeled. A brand-new heating system and a new water heater just been installed. Looking for a home in a convenient location close to everything, this "Ready to Move" home is for you!

Key facts

• Fully renovated
• New water heater
• Large living room

Tags

• FULLY RENOVATED
• LARGE LIVING ROOM
• UPDATED BATHROOMS
• NEW HEATING SYSTEM
• NEW WATER HEATER
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.

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: Woodrow Wilson School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 352 students, 76% FRL) — zoned schools average 76% FRL vs 61% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 37% district-wide (-20 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: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• This rent runs 36% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.11% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $177,767
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Holland Ave	0.28mi	3/2.0	1,320 (-3%)	9mo	$100,000	$76	70
40.5 Julian St	0.13mi	3/1.5	1,528 (+13%)	8mo	$180,000	$118	64
68 Sunset Dr	0.59mi	3/2.0	1,320 (-3%)	5mo	$214,000	$162	60
3 Minerva Ave	0.54mi	3/1.0	1,416 (+4%)	11mo	$142,000	$100	58
167 Prospect St	0.52mi	3/2.0	1,448 (+7%)	8mo	$144,000	$99	54
8 Beverly Pl	0.46mi	3/1.5	1,163 (-14%)	1mo	$152,580	$131	52
16-18 Park St	0.69mi	2/1.5 (-1)	1,380 (+2%)	8mo	$209,000	$151	51
134 Matthews St	0.67mi	3/1.0	1,239 (-9%)	5mo	$144,000	$116	51
45 Sunset Dr	0.61mi	3/1.0	1,196 (-12%)	3mo	$178,000	$149	50
25 Tracy St	0.25mi	4/1.0 (+1)	1,560 (+15%)	11mo	$105,000	$67	49
22 Park St	0.67mi	3/1.0	1,200 (-12%)	2mo	$175,257	$146	48
88 Crestmont Rd	0.73mi	4/2.0 (+1)	1,268 (-7%)	7mo	$193,000	$152	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.81×
• Total profit: $-7,616
• Equity at exit: $21,605

10-year hold

• IRR: 10.5%
• Equity multiple: 2.03×
• Total profit: $41,758
• Equity at exit: $12,528

Cash invested: $40,572 (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 13905

• Home prices YoY: -31.1%
• Rents YoY: 11.2%
• Active inventory: 136
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,602 high
• Mortgage (P&I): −$760
• Tax from tax record: −$331 /mo · $3,977/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $114

Break-even live

Break-even rent $1,458

Max offer price $144,900

Occupancy floor 88%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	13d	1	0.04mi
296 Main St Unit 6 Binghamton, NY	3.0	1.0	1200	$1,250	$1.04	13d	1	0.29mi
263 Main St Binghamton, NY	2.0	1.0	920	$1,200	$1.30	13d	1	0.37mi
133 Crestmont Rd Unit 2 Binghamton, NY	3.0	1.0	1300	$1,900	$1.46	43d	1	0.47mi
36 Haendel St Unit Second Floor Binghamton, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	0.67mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	43d	1	0.67mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	43d	1	0.70mi
127 Burbank Ave Unit 2 Johnson City, NY	2.0	1.0	1032	$1,000	$0.97	21d	1	0.84mi
99 Helen St Unit 2 Binghamton, NY	3.0	1.0	1220	$1,600	$1.31	43d	1	0.84mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	43d	1	0.86mi
145 Floral Ave Unit 4 Johnson City, NY	3.0	1.0	1095	$1,250	$1.14	21d	1	0.88mi
248 Main St Unit 2 Johnson City, NY	2.0	1.0	1650	$1,650	$1.00	13d	1	0.91mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	43d	1	0.98mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	13d	1	1.05mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	1.10mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	43d	1	1.13mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	43d	1	1.13mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	43d	1	1.13mi
207 Saint Charles St #2 Johnson City, NY	2.0	1.0	925	$1,250	$1.35	21d	1	1.18mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	43d	1	1.19mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	43d	1	1.21mi
436 Glenwood Rd Binghamton, NY	1.0–2.0	1.0–1.5	1100	$1,360	$1.24	13d	1	1.22mi
51 Allen St Unit 1 Johnson City, NY	3.0	1.0	1170	$1,575	$1.35	21d	1	1.24mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	21d	1	1.24mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	13d	1	1.29mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	43d	1	1.33mi
50 Crocker Ave Johnson City, NY	4.0	2.0	1411	$2,000	$1.42	21d	1	1.37mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	43d	1	1.43mi

Listing history 6 events

1. 2026-04-05
   status Pending
2. 2026-03-24
   price $144,900
3. 2026-02-23
   price $149,900
4. 2026-02-13
   listed $159,900 Active
5. 2025-11-04
   price $169,000
6. 2025-08-28
   listed $185,000 Active

ⓘ 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: $3,977 · $331/mo
• Projected year-2 tax: $3,977 · $331/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 6/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°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: $19,230
• − Mortgage interest: −$8,117
• − Property taxes: −$3,977
• − Insurance: −$724
• − Repairs & maintenance: −$1,538
• − Management: −$1,538
• − Depreciation: −$4,215
• Taxable loss: −$881
• Est. tax savings @ 24.0%: +$211
• After-tax cash flow: $1,583/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): 27,988
• Household income: $53,362
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1875.0

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 (68%)
• Race & ethnicity: White 68% Asian 10% Black 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 1%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 87% English-only · Other Indo-European 5% Spanish 2% Other Asian/Pacific 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: ▼ -134.70%
• Current HPI: 298.9847
• Rent YoY: ▲ 11.19%
• 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

-21.7% since first listed

6 events — show timeline

• 2026-04-05 Pending — GBAOR
• 2026-03-24 Price Changed $144,900 GBAOR
• 2026-02-23 Price Changed $149,900 GBAOR
• 2026-02-13 Listed $159,900 GBAOR
• 2025-11-04 Price Changed $169,000 GBAOR
• 2025-08-28 Listed $185,000 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $3,977 · +0.9% YoY. Source: county tax records.