94-96 Decatur St · Binghamton, NY 13903

$79,500

2 bd · 1.0 ba · 983 sqft · SingleFamily · 5 Days on market

Built 1920 Good condition 0.73 ac lot Est $104k · 24% 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
• Condition / age +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0

Listing remarks

Country setting with city convenience and views near to city line. Bring your toys to the oversized garage with workshop. Plenty of park spots . One bedroom and bath on main floor. Stand alone shower and tub has grab bars. Property has had improvements including steel roof, and replacement windows . Florida tile in bathroom and newer flooring throughout, lighting. Hardwood is original flooring. Second floor offers options with natural light and floor plan, outlets. Property offers privacy with lilac and berry screens upfront, partial fencing, wooded side and rear lot * . Gardener’s dream as lots of sunlight and plot areas. Hot water heater recently replaced. Circuit Breakers, Basemen

Key facts

• Newer flooring
• Original flooring
• Natural light

Tags

• OVERSIZED GARAGE
• WORKSHOP
• REPLACEMENT WINDOWS
• NEWER FLOORING
• ORIGINAL FLOORING
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Detached garage (1 garage space)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Residential property
• Construction: Aluminum siding
• Exterior features: Storm door(s); Sloped lot with wooded areas and views; Workshop on the property

Interior

• Kitchen: Range; Free-standing range; Dishwasher; Refrigerator; Gas water heater
• Flooring: Tile; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; No cooling
• Interior features: Storm windows and insulated windows; Basement; Total of 5 rooms
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• 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: 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; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% 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 $8k of equity ($550 loan paydown + $8k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,500

Questions for the listing agent

1. Built in 1920 — 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: 1.53% ✓
• Cap rate: 12.54%
• Cash-on-cash: 22.29%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $104,198
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
58 Burr Ave	0.20mi	2/1.0	852 (-13%)	8mo	$45,500	$53	62
89 & 91 Evans Street St	0.55mi	3/1.0 (+1)	1,043 (+6%)	1mo	$101,000	$97	58
5 Macon St	0.36mi	3/1.0 (+1)	875 (-11%)	7mo	$130,000	$149	54
8 Montour St	0.37mi	2/1.0	874 (-11%)	12mo	$93,000	$106	54
5 Espial Dr	0.42mi	2/1.0	924 (-6%)	22mo	$110,000	$119	53
54 Second St	0.52mi	2/1.0	900 (-8%)	12mo	$83,000	$92	51
8 Gates St	0.47mi	3/1.0 (+1)	1,034 (+5%)	18mo	$120,000	$116	49
75 Homer St	0.50mi	3/2.0 (+1)	1,126 (+14%)	6mo	$131,000	$116	39
417 Conklin Ave	0.59mi	2/1.0	1,111 (+13%)	23mo	$100,000	$90	32

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: 41.0%
• Equity multiple: 4.13×
• Total profit: $69,657
• Equity at exit: $71,620

10-year hold

• IRR: 35.4%
• Equity multiple: 9.29×
• Total profit: $184,450
• Equity at exit: $154,451

Cash invested: $22,260 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,219 high
• Mortgage (P&I): −$417
• Tax est. 1.5%: −$99 /mo · $1,192/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $414

Break-even live

Break-even rent $695

Max offer price $79,500

Occupancy floor 61%

Sensitivity live

Price	-10% $469	-5% $441	+0% $414	+5% $386	+10% $359
Rent	-10% $317	-5% $365	+0% $414	+5% $462	+10% $510
Rate	-1.0pp $454	-0.5pp $434	base $414	+0.5pp $393	+1.0pp $372

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 17 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	45d	1	0.70mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	22d	1	0.80mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	45d	1	0.80mi
37 Bigelow St Unit 1 Binghamton, NY	3.0	1.5	854	$1,500	$1.76	14d	1	0.99mi
198 Court St Unit 6 Binghamton, NY	2.0	1.0	550	$1,350	$2.45	45d	1	1.27mi
198 Court St Unit 10 Binghamton, NY	2.0	1.0	700	$1,200	$1.71	22d	1	1.27mi
198 Court St Unit 11 Binghamton, NY	2.0	1.0	550	$1,300	$2.36	45d	1	1.27mi
198 Court St Unit 6 Binghamton, NY	2.0	1.0	700	$1,350	$1.93	22d	1	1.27mi
198 Court St Unit 10 Binghamton, NY	2.0	1.0	550	$1,250	$2.27	45d	1	1.27mi
38 Carroll St Unit 21 Binghamton, NY	1.0	1.0	800	$1,050	$1.31	45d	1	1.27mi
64 Louisa St Binghamton, NY	1.0	1.0	600	$950	$1.58	14d	1	1.28mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	45d	1	1.31mi
147 E Frederick St Binghamton, NY	2.0	1.0	800	$1,200	$1.50	14d	1	1.33mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	45d	1	1.42mi
26 Doubleday St #2 Binghamton, NY	2.0	1.0	850	$1,400	$1.65	45d	1	1.42mi
274 Chenango St Unit 1 Binghamton, NY	1.0	1.0	850	$1,200	$1.41	45d	1	1.50mi
274 Chenango St Unit 4 Binghamton, NY	1.0	1.0	550	$950	$1.73	14d	1	1.50mi

Listing history 5 events

1. 2026-06-03
   days on market $79,500 Active 5 DOM
2. 2026-06-02
   days on market $79,500 Active 4 DOM
3. 2026-06-01
   days on market $79,500 Active 3 DOM
4. 2026-05-31
   days on market $79,500 Active 2 DOM
5. 2026-05-28
   listed $79,500 Active

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 15 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: $14,628
• − Mortgage interest: −$4,453
• − Property taxes: −$1,192
• − Insurance: −$398
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$2,313
• Taxable income: $3,931
• Est. tax owed @ 24.0%: −$943
• After-tax cash flow: $4,019/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This single-family home in a country setting offers a good condition with recent improvements and a good curb appeal. It is move-in ready with minor maintenance needed.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping and garden improvements — Enhances curb appeal and creates a more inviting environment.
• Both Replace old flooring with modern materials — Modernizes the home and improves functionality.
• Both Install smart home technology — Enhances convenience and adds value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and garden improvements — Enhances curb appeal and creates a more inviting environment. ↑
• Both Replace old flooring with modern materials — Modernizes the home and improves functionality. ↑
• Both Install smart home technology — Enhances convenience and adds value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 2026-05-28 Listed $79,500 GBAOR