4 Leon Ave · Binghamton, NY 13904

$130,000

2 bd · 1.0 ba · 1,365 sqft · SingleFamily public records · 160 Days on market

Built 1930 6,098 sqft lot $95/sqft · 25% below area Est $174k · 25% under ↓ 6% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.6/30.0
• Appreciation +10.0/10.0
• 1% rule +6.6/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

If you are looking for a value packed home at a reasonable price, this is it ! This 2 bedroom, 2 full bath home has an updated kitchen with Kraft Maid cabinets, updated bathrooms, a newer electrical breaker panel, a high efficiency gas furnace, insulated windows, solid pine wood doors and a composite deck with vinyl railings. Relax and dine on the private, covered back patio just outside the kitchen. The back yard is fenced for the security of your friends, relatives or pets. Cooling is provided by ceiling fans and a large window a/c unit. This property is close to all amenities, including several restaurants and a Weis grocery store. There is a newer clothes dryer that stays with the house. Call your favorite agent to see this home at your earliest convenience.

Key facts

• Insulated windows
• Updated bathrooms
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATHROOMS
• HIGH EFFICIENCY GAS FURNACE
• INSULATED WINDOWS
• COMPOSITE DECK
• PRIVATE COVERED BACK PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-16 ($-196/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (2.2% below list).
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

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: schools D, 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.
• Market conditions: 41 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $14k of equity ($899 loan paydown + $13k 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.16% ✓
• Cap rate: 6.14%
• Cash-on-cash: -0.54%
• DSCR: 0.98
• GRM: 7.2

CMA / ARV

• ARV (median comp): $173,973
• List price: $130,000
• Delta: -25.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
147 Bigelow St	0.30mi	3/1.5 (+1)	1,372 (+0%)	5mo	$190,000	$138	74
9 Whiting St	0.37mi	3/1.0 (+1)	1,276 (-6%)	5mo	$170,000	$133	63
3 French Ct	0.43mi	3/1.0 (+1)	1,395 (+2%)	10mo	$77,000	$55	63
646 State St	0.53mi	3/2.0 (+1)	1,420 (+4%)	2mo	$150,000	$106	58
186 E Frederick St	0.49mi	3/1.5 (+1)	1,328 (-3%)	9mo	$137,500	$104	58
84 Old State Rd	0.65mi	2/1.5	1,411 (+3%)	7mo	$216,494	$153	56
55 Mason Ave	0.67mi	3/2.0 (+1)	1,408 (+3%)	2mo	$152,000	$108	53
98 Gaylord St	0.52mi	3/1.0 (+1)	1,188 (-13%)	1mo	$170,000	$143	48
23 Yager St St	0.59mi	3/1.0 (+1)	1,212 (-11%)	1mo	$125,000	$103	48
49 Mason Ave	0.70mi	3/1.0 (+1)	1,416 (+4%)	12mo	$128,723	$91	46
530 Chenango St	0.74mi	3/1.0 (+1)	1,176 (-14%)	8mo	$117,000	$99	30
57 E Catherine St	0.56mi	3/2.0 (+1)	1,566 (+15%)	15mo	$80,000	$51	28

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: 24.0%
• Equity multiple: 2.92×
• Total profit: $69,976
• Equity at exit: $117,114

10-year hold

• IRR: 21.3%
• Equity multiple: 6.70×
• Total profit: $207,308
• Equity at exit: $252,561

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 13904

• Home prices YoY: 17.1%
• Active inventory: 41
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,509 high
• Mortgage (P&I): −$682
• Tax from tax record: −$472 /mo · $5,667/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $-16

Break-even live

Break-even rent $1,529

Max offer price $127,119

Occupancy floor 96%

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 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	44d	1	0.63mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	21d	1	0.63mi
14 Dennison Ave Unit 2 Binghamton, NY	2.0	1.0	1100	$1,150	$1.05	44d	1	0.64mi
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	13d	1	0.73mi
40 Fuller St Unit 40A Binghamton, NY	3.0	2.0	1600	$2,700	$1.69	21d	1	0.86mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	44d	1	1.18mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	21d	1	1.37mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	44d	1	1.37mi

Listing history 21 events

1. 2026-06-19
   days on market $130,000 Active 160 DOM
2. 2026-06-18
   days on market $130,000 Active 159 DOM
3. 2026-06-17
   days on market $130,000 Active 158 DOM
4. 2026-06-16
   days on market $130,000 Active 157 DOM
5. 2026-06-15
   days on market $130,000 Active 156 DOM
6. 2026-06-14
   days on market $130,000 Active 154 DOM
7. 2026-06-13
   days on market $130,000 Active 153 DOM
8. 2026-06-10
   days on market $130,000 Active 151 DOM
9. 2026-06-09
   days on market $130,000 Active 150 DOM
10. 2026-06-08
    days on market $130,000 Active 149 DOM
11. 2026-06-07
    days on market $130,000 Active 148 DOM
12. 2026-06-03
    days on market $130,000 Active 144 DOM
13. 2026-06-02
    days on market $130,000 Active 143 DOM
14. 2026-06-01
    days on market $130,000 Active 142 DOM
15. 2026-05-31
    days on market $130,000 Active 141 DOM
16. 2026-05-30
    days on market $130,000 Active 140 DOM
17. 2026-05-09
    price $130,000 772-char remark

    Show marketing remark (772 chars)

    If you are looking for a value packed home at a reasonable price, this is it ! This 2 bedroom, 2 full bath home has an updated kitchen with Kraft Maid cabinets, updated bathrooms, a newer electrical breaker panel, a high efficiency gas furnace, insulated windows, solid pine wood doors and a composite deck with vinyl railings. Relax and dine on the private, covered back patio just outside the kitchen. The back yard is fenced for the security of your friends, relatives or pets. Cooling is provided by ceiling fans and a large window a/c unit. This property is close to all amenities, including several restaurants and a Weis grocery store. There is a newer clothes dryer that stays with the house. Call your favorite agent to see this home at your earliest convenience.

18. 2026-03-29
    price $133,000 772-char remark

    Show marketing remark (772 chars)

    If you are looking for a value packed home at a reasonable price, this is it ! This 2 bedroom, 2 full bath home has an updated kitchen with Kraft Maid cabinets, updated bathrooms, a newer electrical breaker panel, a high efficiency gas furnace, insulated windows, solid pine wood doors and a composite deck with vinyl railings. Relax and dine on the private, covered back patio just outside the kitchen. The back yard is fenced for the security of your friends, relatives or pets. Cooling is provided by ceiling fans and a large window a/c unit. This property is close to all amenities, including several restaurants and a Weis grocery store. There is a newer clothes dryer that stays with the house. Call your favorite agent to see this home at your earliest convenience.

19. 2026-02-18
    status Active 772-char remark

    Show marketing remark (772 chars)

    If you are looking for a value packed home at a reasonable price, this is it ! This 2 bedroom, 2 full bath home has an updated kitchen with Kraft Maid cabinets, updated bathrooms, a newer electrical breaker panel, a high efficiency gas furnace, insulated windows, solid pine wood doors and a composite deck with vinyl railings. Relax and dine on the private, covered back patio just outside the kitchen. The back yard is fenced for the security of your friends, relatives or pets. Cooling is provided by ceiling fans and a large window a/c unit. This property is close to all amenities, including several restaurants and a Weis grocery store. There is a newer clothes dryer that stays with the house. Call your favorite agent to see this home at your earliest convenience.

20. 2026-02-15
    status Pending 772-char remark

    Show marketing remark (772 chars)

    If you are looking for a value packed home at a reasonable price, this is it ! This 2 bedroom, 2 full bath home has an updated kitchen with Kraft Maid cabinets, updated bathrooms, a newer electrical breaker panel, a high efficiency gas furnace, insulated windows, solid pine wood doors and a composite deck with vinyl railings. Relax and dine on the private, covered back patio just outside the kitchen. The back yard is fenced for the security of your friends, relatives or pets. Cooling is provided by ceiling fans and a large window a/c unit. This property is close to all amenities, including several restaurants and a Weis grocery store. There is a newer clothes dryer that stays with the house. Call your favorite agent to see this home at your earliest convenience.

21. 2026-01-07
    listed $138,000 Active 772-char remark

    Show marketing remark (772 chars)

    If you are looking for a value packed home at a reasonable price, this is it ! This 2 bedroom, 2 full bath home has an updated kitchen with Kraft Maid cabinets, updated bathrooms, a newer electrical breaker panel, a high efficiency gas furnace, insulated windows, solid pine wood doors and a composite deck with vinyl railings. Relax and dine on the private, covered back patio just outside the kitchen. The back yard is fenced for the security of your friends, relatives or pets. Cooling is provided by ceiling fans and a large window a/c unit. This property is close to all amenities, including several restaurants and a Weis grocery store. There is a newer clothes dryer that stays with the house. Call your favorite agent to see this home at your earliest convenience.

ⓘ 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: $5,667 · $472/mo
• Projected year-2 tax: $5,667 · $472/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $18,104
• − Mortgage interest: −$7,282
• − Property taxes: −$5,667
• − Insurance: −$650
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$3,782
• Taxable loss: −$2,173
• Est. tax savings @ 24.0%: +$522
• After-tax cash flow: $326/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
• City population: 65,170
• Population (ZIP): 9,138

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 (73%)
• Race & ethnicity: White 73% Black 12% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · French/Haitian/Cajun 5% Spanish 4% Chinese 2%

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: ▲ 40.85%
• Current HPI: 280.3184
• Rent YoY: —
• Metro: —
• 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

-5.8% since first listed

5 events — show timeline

• 2026-05-09 Price Changed $130,000 GBAOR
• 2026-03-29 Price Changed $133,000 GBAOR
• 2026-02-18 Relisted — GBAOR
• 2026-02-15 Pending — GBAOR
• 2026-01-07 Listed $138,000 GBAOR

Property tax history

+9.0%/yr

Latest (2025): $5,667 · +0.9% YoY. Source: county tax records.