2 Beman St · Binghamton, NY 13901

$143,000

4 bd · 1.5 ba · 1,632 sqft · SingleFamily public records · 52 Days on market

Built 1880 1,742 sqft lot $88/sqft · 12% above area Est $127k · 12% 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 +22.0/30.0
• 1% rule +8.1/10.0
• DSCR +7.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious two-story home in Binghamton. Offers large bright rooms, first floor laundry and half bathroom, living room with beautiful wood staircase, dining room and eat-in kitchen. Possible 4th bedroom on the first floor or walk-through on the 2nd floor. Updates include new hot water heater and replacement windows. Outside enjoy the covered front sitting porch. The seller is related to listing agent.

Key facts

• New furnace
• Investment property
• Ample space

Tags

• HISTORIC HOME
• BINGHAMTON ARCHITECTURE
• NEW FURNACE
• UPDATED ELECTRICAL SYSTEM
• AMPLE SPACE
• INVESTMENT PROPERTY

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two-story
• Construction: Wood siding; Stone foundation
• Exterior features: Covered porch; Level lot

Interior

• Kitchen: Range; Free-standing range; Refrigerator
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; No cooling
• Interior features: Range; Free-standing range; Gas water heater; Refrigerator; Washer; Carpet floors; Hardwood floors; Tile floors; 10 total rooms
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $143k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $143k).
• Recommended offer: $139k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 6.4% in Binghamton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Theodore Roosevelt School (math 27% / reading 37%, grade F, #1,646 of 2,108 statewide, top 80%, 345 students, 74% FRL); Binghamton High School (math 71% / reading 79%, grade A-, #631 of 1,100 statewide, top 58%, 1,341 students, 69% FRL).
• Zoned-school proficiency averages 54% at this address vs 37% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Binghamton City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 92 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 40% of the median local income ($56k/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 $989 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.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $58k; list at $143k implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,710 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1880 — 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: 1.31% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.79%
• DSCR: 1.30
• GRM: 6.4

CMA / ARV

• ARV (median comp): $127,298
• List price: $143,000
• Delta: 12.34%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Allen St	0.10mi	4/1.5	1,704 (+4%)	4mo	$160,000	$94	84
2 Emmett St	0.37mi	4/2.0	1,644 (+1%)	10mo	$110,000	$67	71
32 Dennison Ave	0.61mi	3/2.0 (-1)	1,656 (+2%)	1mo	$182,500	$110	61
79 Pine St St	0.59mi	3/1.0 (-1)	1,592 (-2%)	2mo	$132,500	$83	60
24 Cary St	0.38mi	4/2.0	1,594 (-2%)	23mo	$59,000	$37	57
6 Lockwood St	0.45mi	4/1.5	1,782 (+9%)	13mo	$132,000	$74	53
20 Lockwood St	0.42mi	3/1.0 (-1)	1,781 (+9%)	11mo	$149,900	$84	49
57 E Catherine St	0.57mi	3/2.0 (-1)	1,566 (-4%)	15mo	$80,000	$51	47
62 Ely St	0.59mi	3/2.0 (-1)	1,598 (-2%)	19mo	$56,000	$35	46
31 Dennison Ave	0.63mi	4/1.5	1,856 (+14%)	11mo	$132,000	$71	38
24 Valley St	0.68mi	3/1.0 (-1)	1,504 (-8%)	23mo	$101,000	$67	29
32 George St	0.58mi	3/1.0 (-1)	1,418 (-13%)	22mo	$118,557	$84	26

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-8,547
• Equity at exit: $21,322

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $11,912
• Equity at exit: $12,364

Cash invested: $40,040 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,867 high
• Mortgage (P&I): −$750
• Tax from tax record: −$439 /mo · $5,269/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $227

Break-even live

Break-even rent $1,581

Max offer price $143,000

Occupancy floor 83%

Sensitivity live

Price	-10% $308	-5% $267	+0% $227	+5% $186	+10% $146
Rent	-10% $79	-5% $153	+0% $227	+5% $300	+10% $374
Rate	-1.0pp $299	-0.5pp $263	base $227	+0.5pp $190	+1.0pp $152

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: $35,750
• Closing costs: $4,290
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	15d	1	0.53mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	23d	1	0.85mi
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	45d	1	0.85mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	45d	1	0.90mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	45d	1	0.96mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	23d	1	1.13mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	45d	1	1.21mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	45d	1	1.23mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	45d	1	1.23mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	15d	1	1.30mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	15d	1	1.31mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	45d	1	1.47mi

Listing history 25 events

1. 2026-06-21
   days on market $143,000 Active 52 DOM
2. 2026-06-19
   days on market $143,000 Active 50 DOM
3. 2026-06-18
   days on market $143,000 Active 49 DOM
4. 2026-06-17
   days on market $143,000 Active 48 DOM
5. 2026-06-16
   days on market $143,000 Active 47 DOM
6. 2026-06-15
   days on market $143,000 Active 46 DOM
7. 2026-06-14
   days on market $143,000 Active 44 DOM
8. 2026-06-13
   days on market $143,000 Active 43 DOM
9. 2026-06-10
   days on market $143,000 Active 41 DOM
10. 2026-06-09
    days on market $143,000 Active 40 DOM
11. 2026-06-08
    days on market $143,000 Active 39 DOM
12. 2026-06-07
    days on market $143,000 Active 38 DOM
13. 2026-06-03
    days on market $143,000 Active 34 DOM
14. 2026-06-02
    days on market $143,000 Active 33 DOM
15. 2026-06-01
    days on market $143,000 Active 32 DOM
16. 2026-05-31
    days on market $143,000 Active 31 DOM
17. 2026-05-30
    days on market $143,000 Active 30 DOM
18. 2026-04-30
    listed $143,000 Active 697-char remark
19. 2024-01-22
    soldstatus $58,000
20. 2024-01-17
    soldstatus $58,000 Closed 402-char remark

    Show marketing remark (402 chars)

    Spacious two-story home in Binghamton. Offers large bright rooms, first floor laundry and half bathroom, living room with beautiful wood staircase, dining room and eat-in kitchen. Possible 4th bedroom on the first floor or walk-through on the 2nd floor. Updates include new hot water heater and replacement windows. Outside enjoy the covered front sitting porch. The seller is related to listing agent.

21. 2023-12-06
    status Pending 402-char remark

    Show marketing remark (402 chars)

    Spacious two-story home in Binghamton. Offers large bright rooms, first floor laundry and half bathroom, living room with beautiful wood staircase, dining room and eat-in kitchen. Possible 4th bedroom on the first floor or walk-through on the 2nd floor. Updates include new hot water heater and replacement windows. Outside enjoy the covered front sitting porch. The seller is related to listing agent.

22. 2023-11-27
    price $65,000 402-char remark

    Show marketing remark (402 chars)

    Spacious two-story home in Binghamton. Offers large bright rooms, first floor laundry and half bathroom, living room with beautiful wood staircase, dining room and eat-in kitchen. Possible 4th bedroom on the first floor or walk-through on the 2nd floor. Updates include new hot water heater and replacement windows. Outside enjoy the covered front sitting porch. The seller is related to listing agent.

23. 2023-11-15
    status Active 402-char remark

    Show marketing remark (402 chars)

    Spacious two-story home in Binghamton. Offers large bright rooms, first floor laundry and half bathroom, living room with beautiful wood staircase, dining room and eat-in kitchen. Possible 4th bedroom on the first floor or walk-through on the 2nd floor. Updates include new hot water heater and replacement windows. Outside enjoy the covered front sitting porch. The seller is related to listing agent.

24. 2023-11-12
    status Pending 402-char remark

    Show marketing remark (402 chars)

    Spacious two-story home in Binghamton. Offers large bright rooms, first floor laundry and half bathroom, living room with beautiful wood staircase, dining room and eat-in kitchen. Possible 4th bedroom on the first floor or walk-through on the 2nd floor. Updates include new hot water heater and replacement windows. Outside enjoy the covered front sitting porch. The seller is related to listing agent.

25. 2023-10-18
    listed $69,900 Active 402-char remark

    Show marketing remark (402 chars)

    Spacious two-story home in Binghamton. Offers large bright rooms, first floor laundry and half bathroom, living room with beautiful wood staircase, dining room and eat-in kitchen. Possible 4th bedroom on the first floor or walk-through on the 2nd floor. Updates include new hot water heater and replacement windows. Outside enjoy the covered front sitting porch. The seller is related to listing agent.

ⓘ 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: $5,269 · $439/mo
• Projected year-2 tax: $5,269 · $439/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 4/10 Moderate FEMA zone X · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°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: $22,409
• − Mortgage interest: −$8,010
• − Property taxes: −$5,269
• − Insurance: −$715
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − Depreciation: −$4,160
• Taxable income: $669
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $2,559/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

+104.6% since first listed

8 events — show timeline

• 2026-04-30 Listed $143,000 GBAOR
• 2024-01-22 Sold (Public Records) $58,000 Public Records
• 2024-01-17 Sold (MLS) $58,000 GBAOR
• 2023-12-06 Pending — GBAOR
• 2023-11-27 Price Changed $65,000 GBAOR
• 2023-11-15 Relisted — GBAOR
• 2023-11-12 Pending — GBAOR
• 2023-10-18 Listed $69,900 GBAOR

Property tax history

+16.0%/yr

Latest (2025): $5,269 · +0.9% YoY. Source: county tax records.