128 Hawley St St · Binghamton, NY 13901

$299,900

9 bd · 3.0 ba · 2,812 sqft · MultiFamily public records · 4 Days on market

Built 1910 0.25 ac lot Est $217k · 39% over

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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 +24.7/30.0
• DSCR +8.0/10.0
• 1% rule +7.2/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Fully rented and recently updated triplex generating $45,180 in annual gross rental income ($3,765 per month). The property features one 4-bedroom, 2-bath apartment and two 1-bedroom, 1-bath apartments, providing a desirable mix of student and traditional rental income. The 4-bedroom unit has a strong history of student occupancy and is currently fully furnished and leased through 2027. All units are occupied, separately metered, and include in-unit laundry. The 4-bedroom unit has been consistently rented by students, providing a proven track record of occupancy and reliable cash flow. Additional features include a detached one-car garage, ample off-street parking, yard space, and a wraparo

Key facts

• In-unit laundry
• Wraparound porch
• Yard space

Tags

• RECENTLY UPDATED TRIPLEX
• IN-UNIT LAUNDRY
• DETACHED ONE-CAR GARAGE
• AMPLE OFF-STREET PARKING
• YARD SPACE
• WRAPAROUND PORCH

Property features AI

Finance

• Other: Zoning: R-3; Lot is level with approximate dimensions 90 x 125 (0.25 acres); Above-grade finished area reported
• Financial info: Unit 1 rent: $865; Unit 2 rent: $900; Unit 3 rent: $2,000
• HOA & community: No HOA information provided

Exterior

• Parking: Detached garage with 1 garage space
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Residential income property — Triplex
• Construction: Wood siding construction
• Exterior features: Covered porch

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Unit 1: 1 bedroom; Unit 2: 1 bedroom; Unit 3: 4 bedrooms
• Flooring: Hardwood floors; Vinyl floors
• Bathrooms: Four full bathrooms total; Unit 1: 1 bathroom; Unit 2: 1 bathroom; Unit 3: 2 bathrooms
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Gas water heater; Basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.3-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $625 ($8k/yr) — positive. Per door: $208/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 8.8% 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; 1 comparable units currently listed for rent nearby; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $3,659/mo this rent would consume 79% of the median local household income ($56k/yr) (locally 1230% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $37k; list at $300k implies a 708% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.22% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.94%
• DSCR: 1.40
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $216,524
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
162 Susquehanna St	0.17mi	8/2.0 (-1)	2,600 (-8%)	8mo	$85,000	$33	64
72 Conklin Ave	0.40mi	8/4.0 (-1)	2,596 (-8%)	22mo	$226,000	$87	41
22 Gerard Ave	0.74mi	8/4.0 (-1)	3,108 (+10%)	3mo	$240,000	$77	36

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-8,591
• Equity at exit: $44,716

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $44,514
• Equity at exit: $25,930

Cash invested: $83,972 (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: 20.5×

Monthly cashflow live

• Estimated rent: $3,659 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$568 /mo · $6,811/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$768
• Net cashflow: $625

Break-even live

Break-even rent $2,867

Max offer price $299,900

Occupancy floor 78%

Sensitivity live

Price	-10% $795	-5% $710	+0% $625	+5% $541	+10% $456
Rent	-10% $336	-5% $481	+0% $625	+5% $770	+10% $914
Rate	-1.0pp $776	-0.5pp $702	base $625	+0.5pp $548	+1.0pp $469

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.3	$3,660
Total (3 units)			$3,659

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
81 State St Unit 2-1 10BR Binghamton, NY	10.0	5.0	2600	$900	$0.35	44d	1	0.35mi

Listing history 5 events

1. 2026-06-19
   days on market $299,900 Active 4 DOM
2. 2026-06-18
   days on market $299,900 Active 3 DOM
3. 2026-06-17
   days on market $299,900 Active 2 DOM
4. 2026-06-16
   remarks 699-char remark
5. 2026-06-16
   listed $299,900 Active 1 DOM

ⓘ 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: $6,811 · $568/mo
• Projected year-2 tax: $6,811 · $568/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 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $43,908
• − Mortgage interest: −$16,799
• − Property taxes: −$6,811
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,513
• − Management: −$3,513
• − Depreciation: −$8,724
• Taxable income: $3,049
• Est. tax owed @ 24.0%: −$732
• After-tax cash flow: $6,773/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

+708.4% since first listed

2 events — show timeline

• 2026-06-16 Listed $299,900 GBAOR
• 2006-03-08 Sold (Public Records) $37,100 Public Records

Property tax history

+0.8%/yr

Latest (2025): $6,811 · +0.9% YoY. Source: county tax records.