12.5 Franklin St St · Binghamton, NY 13905

$130,000

3 bd · 2.0 ba · 1,728 sqft · MultiFamily public records · 6 Days on market

Built 1900 2,178 sqft lot Est $98k · 32% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• 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: 2 units. confirmed

Listing remarks

Investor opportunity in a convenient Binghamton location with easy access to NY-17/I-86 and Front Street. This fully occupied 2-unit property features two 2-bedroom apartments, each rented at $1,050 per month, providing immediate and stable cash flow from day one. With a current cap rate of approximately 12.3%, this property offers strong returns for both new and seasoned investors. The property includes separate heating systems, with one furnace located in the attic. A straightforward investment with solid income, strong cash flow, and a desirable location close to major transportation routes, shopping, and employment centers.

Key facts

• Strong returns
• Easy access to ny-17
• Binghamton location

Tags

• BINGHAMTON LOCATION
• EASY ACCESS TO NY-17
• TWO 2-BEDROOM APARTMENTS
• SEPARATE HEATING SYSTEMS
• FURNACE LOCATED IN ATTIC
• STRONG RETURNS

Property features AI

Finance

• Other: Zoning: Res one & Res two
• Financial info: Each unit currently rents for $1,050 (total rent per unit $1,050)
• HOA & community: (No HOA information provided)

Exterior

• Parking: Driveway
• Security: (No security details provided)
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential income property; Duplex
• Construction: Vinyl siding
• Exterior features: Level lot; Lot dimensions approximately 25 x 90 ft

Interior

• Kitchen: (No specific kitchen appliance list provided)
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms (total for building); Each unit: 1 bath
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Gas water heater; Partial basement
• Laundry & utility: (No specific laundry or utility room details provided)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $903 ($11k/yr) — positive. Per door: $452/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 15.1% 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: Woodrow Wilson School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 352 students, 76% FRL) — zoned schools average 76% FRL vs 61% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 37% district-wide (-20 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: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).
• At $2,460/mo this rent would consume 55% of the median local household income ($53k/yr) (locally 1875% 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 $899 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 + 8.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $110k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000

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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.89% ✓
• Cap rate: 15.14%
• Cash-on-cash: 31.61%
• DSCR: 2.41
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $98,496
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 and 3 Gaines St	0.27mi	4/2.0 (+1)	1,664 (-4%)	2mo	$55,000	$33	75
12.5 Franklin St	0.00mi	4/2.0 (+1)	1,848 (+7%)	20mo	$116,000	$63	67
27 Valley St	0.13mi	4/2.5 (+1)	1,825 (+6%)	15mo	$156,000	$85	65
11 Cypress St	0.32mi	4/2.0 (+1)	1,584 (-8%)	4mo	$110,000	$69	62
75 Prospect St	0.23mi	4/2.0 (+1)	1,856 (+7%)	18mo	$105,000	$57	57
13 Mcdonald Ave	0.40mi	3/2.0	1,900 (+10%)	10mo	$46,000	$24	56
167 Oak St St	0.60mi	4/2.0 (+1)	1,845 (+7%)	2mo	$104,940	$57	54
36 Doubleday St	0.60mi	4/2.0 (+1)	1,760 (+2%)	13mo	$57,000	$32	53
106 Liberty St	0.66mi	4/2.0 (+1)	1,748 (+1%)	12mo	$45,000	$26	52
10 Ogden St	0.74mi	2/2.0 (-1)	1,584 (-8%)	8mo	$127,000	$80	40
118 Liberty St	0.65mi	4/2.0 (+1)	1,628 (-6%)	21mo	$86,000	$53	38
11 St Cyril Ave	0.71mi	4/3.0 (+1)	1,963 (+14%)	18mo	$55,000	$28	20

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 30.3%
• Equity multiple: 2.36×
• Total profit: $49,597
• Equity at exit: $19,383

10-year hold

• IRR: 40.5%
• Equity multiple: 5.86×
• Total profit: $176,953
• Equity at exit: $11,240

Cash invested: $36,400 (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 13905

• Home prices YoY: -31.1%
• Rents YoY: 11.2%
• Active inventory: 136
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,460 high
• Mortgage (P&I): −$682
• Tax from tax record: −$249 /mo · $2,983/yr
• Insurance: −$54
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $903

Break-even live

Break-even rent $1,316

Max offer price $130,000

Occupancy floor 58%

Sensitivity live

Price	-10% $977	-5% $940	+0% $903	+5% $867	+10% $830
Rent	-10% $709	-5% $806	+0% $903	+5% $1,001	+10% $1,098
Rate	-1.0pp $969	-0.5pp $936	base $903	+0.5pp $870	+1.0pp $835

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,460
Total (2 units)			$2,460

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	22d	1	0.68mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	44d	1	0.72mi
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	14d	1	0.77mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	44d	1	0.80mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	44d	1	0.80mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	44d	1	0.80mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	44d	1	0.83mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	14d	1	0.87mi
14 Dennison Ave Unit 2 Binghamton, NY	2.0	1.0	1100	$1,150	$1.05	44d	1	0.88mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	44d	1	0.92mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	44d	1	1.12mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	22d	1	1.13mi
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	44d	1	1.13mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	22d	1	1.16mi
36 Haendel St Unit Second Floor Binghamton, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	1.28mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	44d	1	1.28mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	14d	1	1.29mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	44d	1	1.32mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	14d	1	1.38mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	1.46mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	44d	1	1.47mi
296 Main St Unit 6 Binghamton, NY	3.0	1.0	1200	$1,250	$1.04	14d	1	1.49mi

Listing history 7 events

1. 2026-06-19
   days on market $130,000 Active 6 DOM
2. 2026-06-18
   days on market $130,000 Active 5 DOM
3. 2026-06-17
   days on market $130,000 Active 4 DOM
4. 2026-06-16
   days on market $130,000 Active 3 DOM
5. 2026-06-15
   days on market $130,000 Active 2 DOM
6. 2026-06-14
   remarks 635-char remark
7. 2026-06-14
   listed $130,000 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: $2,983 · $249/mo
• Projected year-2 tax: $2,983 · $249/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 8/10 Severe FEMA zone X (shaded) · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $29,520
• − Mortgage interest: −$7,282
• − Property taxes: −$2,983
• − Insurance: −$1,316
• − Repairs & maintenance: −$2,362
• − Management: −$2,362
• − Depreciation: −$3,782
• Taxable income: $9,434
• Est. tax owed @ 24.0%: −$2,264
• After-tax cash flow: $8,577/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): 27,988
• Household income: $53,362
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1875.0

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 (68%)
• Race & ethnicity: White 68% Asian 10% Black 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 1%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 87% English-only · Other Indo-European 5% Spanish 2% Other Asian/Pacific 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: ▼ -134.70%
• Current HPI: 298.9847
• Rent YoY: ▲ 11.19%
• 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

+622.2% since first listed

6 events — show timeline

• 2026-06-13 Listed $130,000 GBAOR
• 2024-10-21 Sold (Public Records) $110,000 Public Records
• 2024-02-22 Sold (Public Records) $60,000 Public Records
• 2023-12-26 Sold (Public Records) $45,000 Public Records
• 2022-10-26 Sold (Public Records) $1 Public Records
• 2010-03-23 Sold (Public Records) $18,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $2,983 · +0.9% YoY. Source: county tax records.