7 Silver St · Binghamton, NY 13904

$225,000

16 bd · 16.0 ba · 1,842 sqft · MultiFamily public records · 13 Days on market

Built 1900 9,147 sqft lot ↓ 10% since listing

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Why this score? — see what drove the B+ 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Beautifully maintained four family home in Binghamton. The property features a spacious double lot, landscaping, well maintained vinyl siding, new windows, separate utilities, double stall detached garage, and a driveway big enough to fit mulitple vehicles. The home is fully occupied and features updates throughout! Two of the units have porches. This home represents a great opportunity for investors! Don't miss out!

Key facts

• Separate utilities
• Double lot
• Vinyl siding

Tags

• DOUBLE LOT
• VINYL SIDING
• NEW WINDOWS
• SEPARATE UTILITIES
• DOUBLE STALL DETACHED GARAGE
• TWO UNITS HAVE PORCHES

Property features AI

Finance

• Other: Above-grade finished area reported (value provided in source but not listed here as square footage per instructions)
• Financial info: Current rents listed for units: $725, $500, $750, $725
• HOA & community: No HOA information provided

Exterior

• Parking: Detached garage with driveway (1 garage space)
• Security: No specific security features provided
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential income property; Quadruplex
• Construction: Vinyl siding
• Exterior features: Deck; Enclosed porch; Porch; Screened porch; Level lot

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Four separate 1-bedroom units
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: High-speed internet; Insulated windows; Electric and gas water heaters; Basement
• Laundry & utility: No specific laundry appliances or locations provided

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $498/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $225k).
• Cap rate 17.3% 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: Calvin Coolidge School (math 27% / reading 37%, grade F, #1,646 of 2,108 statewide, top 80%, 312 students, 72% FRL).
• Market conditions: 41 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k 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 $63k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/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 $225,000

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: 2.03% ✓
• Cap rate: 17.27%
• Cash-on-cash: 39.19%
• DSCR: 2.74
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.5%
• Equity multiple: 4.96×
• Total profit: $249,449
• Equity at exit: $202,698

10-year hold

• IRR: 47.1%
• Equity multiple: 11.08×
• Total profit: $635,091
• Equity at exit: $437,126

Cash invested: $63,000 (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: 16.4×

Monthly cashflow live

• Estimated rent: $4,573 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$282 /mo · $3,380/yr
• Insurance: −$94
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$960
• Net cashflow: $1,991

Break-even live

Break-even rent $2,053

Max offer price $225,000

Occupancy floor 51%

Sensitivity live

Price	-10% $2,118	-5% $2,055	+0% $1,991	+5% $1,927	+10% $1,863
Rent	-10% $1,630	-5% $1,810	+0% $1,991	+5% $2,171	+10% $2,352
Rate	-1.0pp $2,104	-0.5pp $2,048	base $1,991	+0.5pp $1,933	+1.0pp $1,873

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$4,572
Total (4 units)			$4,573

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $225,000 Active 13 DOM
2. 2026-06-19
   days on market $225,000 Active 11 DOM
3. 2026-06-18
   days on market $225,000 Active 10 DOM
4. 2026-06-17
   days on market $225,000 Active 9 DOM
5. 2026-06-16
   days on market $225,000 Active 8 DOM
6. 2026-06-15
   days on market $225,000 Active 7 DOM
7. 2026-06-14
   days on market $225,000 Active 5 DOM
8. 2026-06-13
   days on market $225,000 Active 4 DOM
9. 2026-06-10
   days on market $225,000 Active 2 DOM
10. 2026-06-09
    remarks 422-char remark
11. 2026-06-09
    listed $225,000 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: $3,380 · $282/mo
• Projected year-2 tax: $3,591 · $299/mo
• Expected delta: +$211/yr (+$18/mo · 6.2%)

ⓘ 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 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: $54,876
• − Mortgage interest: −$12,603
• − Property taxes: −$3,380
• − Insurance: −$1,922
• − Repairs & maintenance: −$4,390
• − Management: −$4,390
• − Depreciation: −$6,545
• Taxable income: $21,644
• Est. tax owed @ 24.0%: −$5,195
• After-tax cash flow: $18,695/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

-10.0% since first listed

4 events — show timeline

• 2026-06-08 Listed $225,000 GBAOR
• 2025-10-31 Relisted — GBAOR
• 2025-10-31 Price Changed $245,000 GBAOR
• 2025-09-11 Listed $249,900 GBAOR

Property tax history

+0.8%/yr

Latest (2025): $3,380 · +0.9% YoY. Source: county tax records.