190 Henry St · Binghamton, NY 13901

$150,000

4 bd · 2.0 ba · 1,880 sqft · MultiFamily public records · 38 Days on market

Built 1920 2,613 sqft lot $80/sqft · at area comps Est $150k · at est.

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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
• ARV discount +7.4/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Located in Downtown Binghamton. Two family dwelling with two bedrooms one bath each unit. Baseball stadium nearby. 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

• Ideal location
• Two family property
• 2,613 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• TWO FAMILY PROPERTY
• HIGHLY ACCESSIBLE AREA
• MULTI FAMILY PROPERTY
• IDEAL LOCATION

Property features AI

Exterior

• Parking: Driveway; On-street parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex (residential income property); Level lot
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Covered porch

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; No cooling
• Interior features: Gas water heater; Basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $721 ($9k/yr) — positive. Per door: $360/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: Macarthur School (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 398 students, 62% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 92 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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

• 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 + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $150k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,500 (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. 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.65% ✓
• Cap rate: 12.50%
• Cash-on-cash: 22.18%
• DSCR: 1.99
• GRM: 5.0

CMA / ARV

• ARV (median comp): $149,528
• List price: $150,000
• Delta: 0.32%
• 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 Doubleday St	0.22mi	4/2.0	1,760 (-6%)	13mo	$57,000	$32	68
29 Griswold St	0.52mi	5/2.0 (+1)	1,824 (-3%)	3mo	$60,000	$33	63
12 Oliver St	0.58mi	4/2.0	1,776 (-6%)	3mo	$70,000	$39	61
155 Hawley St	0.33mi	3/2.0 (-1)	1,958 (+4%)	14mo	$120,000	$61	61
142 Hawley St	0.38mi	3/2.0 (-1)	1,820 (-3%)	14mo	$84,000	$46	60
6 John St	0.67mi	4/2.0	1,970 (+5%)	2mo	$155,000	$79	59
106 Liberty St	0.44mi	4/2.0	1,748 (-7%)	12mo	$45,000	$26	58
13 Mcdonald Ave	0.68mi	3/2.0 (-1)	1,900 (+1%)	10mo	$46,000	$24	53
23 Montgomery St	0.51mi	4/2.0	1,640 (-13%)	7mo	$150,000	$91	49
34 Evans St	0.74mi	4/2.0	1,752 (-7%)	10mo	$42,000	$24	45
22 Hancock St	0.75mi	5/2.0 (+1)	2,028 (+8%)	11mo	$125,000	$62	38
118 Liberty St	0.49mi	4/2.0	1,628 (-13%)	21mo	$86,000	$53	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.52×
• Total profit: $21,759
• Equity at exit: $22,365

10-year hold

• IRR: 21.9%
• Equity multiple: 2.87×
• Total profit: $78,708
• Equity at exit: $12,969

Cash invested: $42,000 (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 13901

• Home prices YoY: -5.1%
• Active inventory: 92
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,477 high
• Mortgage (P&I): −$787
• Tax from tax record: −$331 /mo · $3,977/yr
• Insurance: −$62
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $721

Break-even live

Break-even rent $1,565

Max offer price $150,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,476
Total (2 units)			$2,477

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	44d	1	0.43mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	44d	1	0.46mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	0.75mi
51 2nd St Binghamton, NY	3.0	2.5	2333	$2,200	$0.94	13d	1	0.76mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	13d	1	0.76mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	44d	1	0.92mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	0.96mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	44d	1	1.02mi
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	13d	1	1.09mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	44d	1	1.28mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	44d	1	1.31mi
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	44d	1	1.40mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	21d	1	1.40mi
13 Chapin St Binghamton, NY	4.0	3.0	2452	$4,000	$1.63	44d	1	1.44mi

Listing history 28 events

1. 2026-06-19
   days on market $150,000 Active 38 DOM
2. 2026-06-18
   days on market $150,000 Active 37 DOM
3. 2026-06-17
   days on market $150,000 Active 36 DOM
4. 2026-06-16
   days on market $150,000 Active 35 DOM
5. 2026-06-15
   pricedays on market $150,000 Active 34 DOM
6. 2026-06-14
   days on market $155,000 Active 32 DOM
7. 2026-06-13
   days on market $155,000 Active 31 DOM
8. 2026-06-10
   days on market $155,000 Active 29 DOM
9. 2026-06-09
   days on market $155,000 Active 28 DOM
10. 2026-06-08
    days on market $155,000 Active 27 DOM
11. 2026-06-07
    days on market $155,000 Active 26 DOM
12. 2026-06-03
    pricedays on market $155,000 Active 22 DOM
13. 2026-06-02
    days on market $160,000 Active 21 DOM
14. 2026-06-01
    days on market $160,000 Active 20 DOM
15. 2026-05-31
    days on market $160,000 Active 19 DOM
16. 2026-05-30
    days on market $160,000 Active 18 DOM
17. 2026-05-12
    listed $160,000 Active 510-char remark
18. 2024-08-16
    soldstatus $52,500 Closed 408-char remark

    Show marketing remark (408 chars)

    Located in Downtown Binghamton. Two family dwelling with two bedrooms one bath each unit. Baseball stadium nearby. 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. 2024-07-05
    status Pending 408-char remark

    Show marketing remark (408 chars)

    Located in Downtown Binghamton. Two family dwelling with two bedrooms one bath each unit. Baseball stadium nearby. 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 $61,900 Active 408-char remark

    Show marketing remark (408 chars)

    Located in Downtown Binghamton. Two family dwelling with two bedrooms one bath each unit. Baseball stadium nearby. 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. 2017-03-17
    soldstatus $17,900

    Show marketing remark (383 chars)

    Don't miss this GREAT investment opportunity located in downtown Binghamton with easy access to bus lines and walking distance to restaurants as well as local breweries and stores. This is a 2 Family Property that needs your personal touch and TLC to be GREAT AGAIN! Separate utilities as well as off and on street parking available. Enjoy the B-Mets Fireworks from your front porch!

22. 2017-03-17
    soldstatus $17,900

    Show marketing remark (383 chars)

    Don't miss this GREAT investment opportunity located in downtown Binghamton with easy access to bus lines and walking distance to restaurants as well as local breweries and stores. This is a 2 Family Property that needs your personal touch and TLC to be GREAT AGAIN! Separate utilities as well as off and on street parking available. Enjoy the B-Mets Fireworks from your front porch!

23. 2017-03-09
    soldstatus $17,900
24. 2016-11-23
    listed $19,900

    Show marketing remark (383 chars)

    Don't miss this GREAT investment opportunity located in downtown Binghamton with easy access to bus lines and walking distance to restaurants as well as local breweries and stores. This is a 2 Family Property that needs your personal touch and TLC to be GREAT AGAIN! Separate utilities as well as off and on street parking available. Enjoy the B-Mets Fireworks from your front porch!

25. 2016-11-23
    listed $19,900

    Show marketing remark (383 chars)

    Don't miss this GREAT investment opportunity located in downtown Binghamton with easy access to bus lines and walking distance to restaurants as well as local breweries and stores. This is a 2 Family Property that needs your personal touch and TLC to be GREAT AGAIN! Separate utilities as well as off and on street parking available. Enjoy the B-Mets Fireworks from your front porch!

26. 2014-06-24
    listed $64,900
27. 2006-10-19
    soldstatus $41,236
28. 2006-08-29
    soldstatus $41,236

ⓘ 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 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 17 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: $29,724
• − Mortgage interest: −$8,402
• − Property taxes: −$3,977
• − Insurance: −$1,416
• − Repairs & maintenance: −$2,378
• − Management: −$2,378
• − Depreciation: −$4,364
• Taxable income: $6,809
• Est. tax owed @ 24.0%: −$1,634
• After-tax cash flow: $7,015/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): 19,613
• Household income: $55,523
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 1230.0

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% Two or more races 7% Hispanic / Latino 7% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -16.13%
• Current HPI: 300.7692
• 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

+263.8% since first listed

14 events — show timeline

• 2026-06-14 Price Changed $150,000 GBAOR
• 2026-06-03 Price Changed $155,000 GBAOR
• 2026-05-12 Listed $160,000 GBAOR
• 2024-08-16 Sold (MLS) $52,500 GBAOR
• 2024-07-05 Pending — GBAOR
• 2024-06-03 Listed $61,900 GBAOR
• 2017-03-17 Sold (MLS) $17,900 GBAOR
• 2017-03-17 Sold (MLS) $17,900 NMPA
• 2017-03-09 Sold (MLS) $17,900 GSBR as distributed by MLS GRID
• 2016-11-23 Listed $19,900 GBAOR
• 2016-11-23 Listed $19,900 NMPA
• 2014-06-24 Listed $64,900 GBAOR
• 2006-10-19 Sold (Public Records) $41,236 Public Records
• 2006-08-29 Sold (MLS) $41,236 GSBR as distributed by MLS GRID

Property tax history

+4.7%/yr

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