16 Grand St · Binghamton, NY 13903

$125,000

3 bd · 1.0 ba · 1,154 sqft · SingleFamily public records · 38 Days on market

Built 1900 6,098 sqft lot $108/sqft · at area comps Est $125k · at est.

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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 +16.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +5.2/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

ONLINE AUCTION- Southside home with three bedroom, one bath, dining room, living room. Large covered front porch, detached one car garage. Walking distance to park. REO Occupied - the seller does not represent or guarantee occupancy status. NO VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

Key facts

• Easy access
• Single family home
• Two story

Tags

• TWO STORY
• SINGLE FAMILY HOME
• CLOSE TO LOCAL AMENITIES
• EASY ACCESS

Property features AI

Exterior

• Parking: Detached garage; Driveway; 1 garage space
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Two stories; Residential property
• Construction: Vinyl siding; Built with standard foundation
• Exterior features: Covered porch; Level lot

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No cooling
• Interior features: Gas water heater; Finished basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $77 ($930/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (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: 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; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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 $13k of equity ($864 loan paydown + $12k 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 $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago 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 $47k; list at $125k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1900 — 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: 1.20% ✓
• Cap rate: 7.04%
• Cash-on-cash: 2.66%
• DSCR: 1.12
• GRM: 7.0

CMA / ARV

• ARV (median comp): $124,949
• List price: $125,000
• Delta: 0.04%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Hall St	0.29mi	2/1.0 (-1)	1,160 (+0%)	6mo	$95,000	$82	76
20 Kress St	0.08mi	3/1.0	1,248 (+8%)	14mo	$50,000	$40	71
2 East Ave	0.05mi	2/2.0 (-1)	1,092 (-5%)	15mo	$98,900	$91	68
16 Clarence St	0.35mi	2/1.0 (-1)	1,172 (+2%)	13mo	$130,000	$111	65
89 & 91 Evans Street St	0.40mi	3/1.0	1,043 (-10%)	1mo	$101,000	$97	65
10 Columbia Ave	0.51mi	3/1.5	1,216 (+5%)	1mo	$170,000	$140	64
23 Martha St	0.68mi	3/1.0	1,104 (-4%)	1mo	$35,000	$32	60
75 Homer St	0.60mi	3/2.0	1,126 (-2%)	6mo	$131,000	$116	59
67 Evans St	0.30mi	3/2.0	1,288 (+12%)	17mo	$57,000	$44	48
6 Curran Ave	0.61mi	3/1.0	1,323 (+15%)	3mo	$167,000	$126	45
13 Edna Ave	0.70mi	3/1.0	1,314 (+14%)	8mo	$145,000	$110	37
5 Edna Ave	0.75mi	3/1.5	1,296 (+12%)	10mo	$225,000	$174	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: 26.2%
• Equity multiple: 3.09×
• Total profit: $73,183
• Equity at exit: $112,610

10-year hold

• IRR: 23.1%
• Equity multiple: 7.06×
• Total profit: $211,970
• Equity at exit: $242,848

Cash invested: $35,000 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,495 high
• Mortgage (P&I): −$656
• Tax from tax record: −$396 /mo · $4,752/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $77

Break-even live

Break-even rent $1,397

Max offer price $125,000

Occupancy floor 90%

Sensitivity live

Price	-10% $148	-5% $113	+0% $77	+5% $42	+10% $7
Rent	-10% $-41	-5% $18	+0% $77	+5% $137	+10% $196
Rate	-1.0pp $140	-0.5pp $109	base $77	+0.5pp $45	+1.0pp $12

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
231 Conklin Ave #2 Binghamton, NY	3.0	1.0	700	$1,350	$1.93	44d	1	0.31mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	14d	1	0.37mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	0.39mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	44d	1	0.55mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	21d	1	0.55mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	14d	1	0.58mi
198 Court St Unit 6 Binghamton, NY	2.0	1.0	700	$1,350	$1.93	21d	1	0.62mi
198 Court St Unit 10 Binghamton, NY	2.0	1.0	700	$1,200	$1.71	21d	1	0.62mi
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	14d	1	0.66mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	44d	1	0.67mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	44d	1	0.75mi
81 State St Unit 2 Binghamton, NY	2.0	2.0	800	$1,000	$1.25	44d	1	0.78mi
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	44d	1	0.96mi
26 Doubleday St #2 Binghamton, NY	2.0	1.0	850	$1,400	$1.65	45d	1	0.98mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	44d	1	0.98mi
7 Maria Mnr Unit 2 Binghamton, NY	2.0	1.0	850	$995	$1.17	44d	1	1.14mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	44d	1	1.24mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	44d	1	1.31mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	44d	1	1.31mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	44d	1	1.31mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	1.33mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	44d	1	1.38mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	1.41mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	44d	1	1.41mi
37 Bigelow St Unit 1 Binghamton, NY	3.0	1.5	854	$1,500	$1.76	14d	1	1.43mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	44d	1	1.46mi
28 Lydia St Unit 1-R Binghamton, NY	2.0	1.0	770	$1,200	$1.56	45d	1	1.47mi
147 E Frederick St Binghamton, NY	2.0	1.0	800	$1,200	$1.50	14d	1	1.48mi

Listing history 26 events

1. 2026-06-19
   days on market $125,000 Active 38 DOM
2. 2026-06-18
   days on market $125,000 Active 37 DOM
3. 2026-06-17
   days on market $125,000 Active 36 DOM
4. 2026-06-16
   days on market $125,000 Active 35 DOM
5. 2026-06-15
   days on market $125,000 Active 34 DOM
6. 2026-06-14
   days on market $125,000 Active 32 DOM
7. 2026-06-13
   days on market $125,000 Active 31 DOM
8. 2026-06-10
   days on market $125,000 Active 29 DOM
9. 2026-06-09
   days on market $125,000 Active 28 DOM
10. 2026-06-08
    days on market $125,000 Active 27 DOM
11. 2026-06-07
    days on market $125,000 Active 26 DOM
12. 2026-06-03
    pricedays on market $125,000 Active 22 DOM
13. 2026-06-02
    days on market $130,000 Active 21 DOM
14. 2026-06-01
    days on market $130,000 Active 20 DOM
15. 2026-05-31
    days on market $130,000 Active 19 DOM
16. 2026-05-30
    days on market $130,000 Active 18 DOM
17. 2026-05-12
    listed $130,000 Active 486-char remark
18. 2024-08-16
    soldstatus $47,250 Closed 458-char remark

    Show marketing remark (458 chars)

    ONLINE AUCTION- Southside home with three bedroom, one bath, dining room, living room. Large covered front porch, detached one car garage. Walking distance to park. REO Occupied - the seller does not represent or guarantee occupancy status. NO VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

19. 2024-06-28
    status Pending 458-char remark

    Show marketing remark (458 chars)

    ONLINE AUCTION- Southside home with three bedroom, one bath, dining room, living room. Large covered front porch, detached one car garage. Walking distance to park. REO Occupied - the seller does not represent or guarantee occupancy status. NO VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

20. 2024-06-03
    listed $46,900 Active 458-char remark

    Show marketing remark (458 chars)

    ONLINE AUCTION- Southside home with three bedroom, one bath, dining room, living room. Large covered front porch, detached one car garage. Walking distance to park. REO Occupied - the seller does not represent or guarantee occupancy status. NO VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

21. 2023-02-08
    listed $75,000 Active
22. 2021-11-08
    listed $100,000
23. 2018-06-28
    soldstatus $22,000
24. 2018-04-23
    listed $28,000
25. 2017-12-15
    listed $38,000
26. 2000-03-28
    soldstatus $48,000

ⓘ 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: $4,752 · $396/mo
• Projected year-2 tax: $4,752 · $396/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 2/10 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: $17,941
• − Mortgage interest: −$7,002
• − Property taxes: −$4,752
• − Insurance: −$625
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$3,636
• Taxable loss: −$945
• Est. tax savings @ 24.0%: +$227
• After-tax cash flow: $1,157/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

+160.4% since first listed

11 events — show timeline

• 2026-06-03 Price Changed $125,000 GBAOR
• 2026-05-12 Listed $130,000 GBAOR
• 2024-08-16 Sold (MLS) $47,250 GBAOR
• 2024-06-28 Pending — GBAOR
• 2024-06-03 Listed $46,900 GBAOR
• 2023-02-08 Listed $75,000 GBAOR
• 2021-11-08 Listed $100,000 GBAOR
• 2018-06-28 Sold (MLS) $22,000 GBAOR
• 2018-04-23 Listed $28,000 GBAOR
• 2017-12-15 Listed $38,000 GBAOR
• 2000-03-28 Sold (Public Records) $48,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $4,752 · +0.9% YoY. Source: county tax records.