78 Carroll St · Binghamton, NY 13901

$309,000

9 bd · 3.0 ba · 2,772 sqft · Townhouse · 50 Days on market

Built 1915 Good condition 1,742 sqft lot $111/sqft · 9% below area Est $341k · 9% under ↓ 19% since listing

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Why this score? — see what drove the F 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 +11.7/15.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Cash flow +3.1/30.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 78 Carroll St, in the heart of downtown Binghamton. This property is located in the Student Zone, and is currently rented on a 1 years lease until May of 2027!!! This property features 9 bedrooms & 3 bathrooms, laid out over 3 floors. Easy walk to downtown, local shopping & bus line!

Key facts

• Built 1915
• Listed 49 days

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath townhouse listed at $309k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-992 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (46.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (53.2% below list).
• Recommended offer: $145k (53.2% below list) — sets the bar for 1% rule.
• Cap rate 2.4% vs local median 6.2% in Binghamton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Macarthur School (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 398 students, 62% FRL); Binghamton High School (math 71% / reading 79%, grade A-, #631 of 1,100 statewide, top 58%, 1,341 students, 69% FRL) — zoned schools at 65% FRL track the district average.
• Zoned-school proficiency averages 51% at this address vs 37% district-wide (+14 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: 144 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• This rent runs 31% 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 $2k of loan paydown is wiped out by about $9k 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 50 days — a 3% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 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: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,723 (53.2% 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 50 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
3. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.47% ✗
• Cap rate: 2.44%
• Cash-on-cash: -13.76%
• DSCR: 0.39
• GRM: 17.8

CMA / ARV

• ARV (median comp): $341,099
• List price: $309,000
• Delta: -9.41%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
162 Susquehanna St	0.26mi	8/2.0 (-1)	2,600 (-6%)	11mo	$85,000	$33	59
20-22 Oliver St	0.97mi	8/4.0 (-1)	2,856 (+3%)	3mo	$165,000	$58	48
160 Hawley St	0.17mi	10/2.5 (+1)	3,219 (+16%)	14mo	$320,000	$99	48
60 Conklin Ave	0.49mi	8/4.0 (-1)	2,920 (+5%)	19mo	$330,000	$113	43
21 Lincoln Ave	1.14mi	8/3.0 (-1)	3,000 (+8%)	4mo	$245,000	$82	43
72 Conklin Ave	0.47mi	8/4.0 (-1)	2,596 (-6%)	25mo	$226,000	$87	38
22 Gerard Ave	0.66mi	8/4.0 (-1)	3,108 (+12%)	6mo	$240,000	$77	35
97 Broad Ave	1.28mi	8/3.0 (-1)	2,552 (-8%)	17mo	$245,000	$96	33
110 Walnut St	0.79mi	9/4.5	3,452 (+24%)	6mo	$225,000	$65	29
127 Laurel Ave	1.25mi	8/3.0 (-1)	3,096 (+12%)	14mo	$225,000	$73	29
22 High St	0.56mi	8/4.0 (-1)	3,310 (+19%)	22mo	$129,000	$39	22
142 Main St	1.11mi	8/— (-1)	3,429 (+24%)	18mo	$160,000	$47	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -42.3%
• Equity multiple: -0.31×
• Total profit: $-113,238
• Equity at exit: $46,073

10-year hold

• IRR: -72.0%
• Equity multiple: -1.08×
• Total profit: $-179,882
• Equity at exit: $26,717

Cash invested: $86,520 (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 →

Active competition Active MLS

• For sale now: 2 active · 1 under contract
• Median asking: $229,950 ($76/sqft)
• Median days on market: 49 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +61.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 13901

• Home prices YoY: -5.1%
• Active inventory: 144
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $1,447 medium
• Mortgage (P&I): −$1,620
• Tax est. 1.5%: −$386 /mo · $4,635/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-992

Break-even live

Break-even rent $2,703

Max offer price $165,439

Occupancy floor —

Sensitivity live

Price	-10% $-779	-5% $-885	+0% $-992	+5% $-1,099	+10% $-1,206
Rent	-10% $-1,106	-5% $-1,049	+0% $-992	+5% $-935	+10% $-878
Rate	-1.0pp $-837	-0.5pp $-914	base $-992	+0.5pp $-1,072	+1.0pp $-1,154

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: $77,250
• Closing costs: $9,270
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
81 State St Unit 2-1 10BR Binghamton, NY	10.0	5.0	2600	$900	$0.35	139d	1	0.31mi
72 Conklin Ave Binghamton, NY	8.0	4.0	2600	$450	$0.17	6d	1	0.46mi

Property features AI

Finance

• Other: Zoned commercial

Exterior

• Parking: No designated parking
• Utilities: Public waterPublic sewer
• Home design: Residential income propertyApartmentVinyl siding
• Construction: Vinyl siding construction
• Exterior features: Level lotOther exterior features

Interior

• Flooring: HardwoodTile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Steam heatingCeiling fan cooling
• Interior features: Gas water heaterHardwood and tile flooringHas basement

Listing history 50 events

1. 2026-09-24
   days on market $309,000 Active 50 DOM
2. 2026-09-24
   days on market $309,000 Active 49 DOM
3. 2026-09-22
   days on market $309,000 Active 48 DOM
4. 2026-09-20
   days on market $309,000 Active 46 DOM
5. 2026-09-19
   days on market $309,000 Active 45 DOM
6. 2026-09-18
   days on market $309,000 Active 44 DOM
7. 2026-09-17
   days on market $309,000 Active 43 DOM
8. 2026-09-16
   days on market $309,000 Active 42 DOM
9. 2026-09-15
   days on market $309,000 Active 41 DOM
10. 2026-09-14
    days on market $309,000 Active 40 DOM
11. 2026-09-13
    days on market $309,000 Active 39 DOM
12. 2026-09-12
    days on market $309,000 Active 38 DOM
13. 2026-09-11
    days on market $309,000 Active 37 DOM
14. 2026-09-05
    days on market $309,000 Active 31 DOM
15. 2026-09-04
    days on market $309,000 Active 30 DOM
16. 2026-09-03
    pricedays on market $309,000 Active 29 DOM
17. 2026-08-30
    days on market $324,000 Active 25 DOM
18. 2026-08-29
    days on market $324,000 Active 24 DOM
19. 2026-08-28
    days on market $324,000 Active 23 DOM
20. 2026-08-27
    days on market $324,000 Active 22 DOM
21. 2026-08-26
    days on market $324,000 Active 21 DOM
22. 2026-08-25
    days on market $324,000 Active 20 DOM
23. 2026-08-24
    days on market $324,000 Active 19 DOM
24. 2026-08-23
    days on market $324,000 Active 18 DOM
25. 2026-08-22
    days on market $324,000 Active 17 DOM
26. 2026-08-21
    days on market $324,000 Active 16 DOM
27. 2026-08-20
    days on market $324,000 Active 15 DOM
28. 2026-08-19
    days on market $324,000 Active 14 DOM
29. 2026-08-18
    days on market $324,000 Active 13 DOM
30. 2026-08-17
    days on market $324,000 Active 12 DOM
31. 2026-08-16
    days on market $324,000 Active 11 DOM
32. 2026-08-15
    days on market $324,000 Active 10 DOM
33. 2026-08-14
    days on market $324,000 Active 9 DOM
34. 2026-08-13
    days on market $324,000 Active 8 DOM
35. 2026-08-12
    days on market $324,000 Active 7 DOM
36. 2026-08-11
    days on market $324,000 Active 6 DOM
37. 2026-08-10
    days on market $324,000 Active 5 DOM
38. 2026-08-09
    days on market $324,000 Active 4 DOM
39. 2026-08-08
    days on market $324,000 Active 3 DOM
40. 2026-08-07
    days on market $324,000 Active 2 DOM
41. 2026-08-05
    pricedays on marketlisting id $324,000 Active 1 DOM
42. 2026-07-31
    days on market $339,000 Active 156 DOM
43. 2026-07-30
    days on market $339,000 Active 155 DOM
44. 2026-07-29
    days on market $339,000 Active 154 DOM
45. 2026-07-27
    days on market $339,000 Active 152 DOM
46. 2026-07-25
    days on market $339,000 Active 150 DOM
47. 2026-07-24
    days on market $339,000 Active 149 DOM
48. 2026-07-23
    days on market $339,000 Active 148 DOM
49. 2026-07-22
    days on market $339,000 Active 147 DOM
50. 2026-07-21
    days on market $339,000 Active 146 DOM

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 8 d/yr ≥92°F today · 18 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: $17,367
• − Mortgage interest: −$17,309
• − Property taxes: −$4,635
• − Insurance: −$1,545
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − Depreciation: −$8,989
• Taxable loss: −$17,890
• Est. tax savings @ 24.0%: +$4,294
• After-tax cash flow: $-7,612/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 Est. rehab $13,860–$41,580 screening

This multi-family property is in good condition with cosmetic updates needed to enhance its resale and rental value.

Value-add opportunities

• Both paint interior walls — Fresh paint can make a significant difference in the home's appearance and value ↑
• Both update flooring in bathrooms — Modern flooring can enhance the home's appeal and value ↑
• Both update kitchen appliances — Modern appliances can improve the home's appeal and value ↑
• Both update bathroom fixtures — Modern fixtures can enhance the home's appeal and value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 27/100

Zoned Schools

Elementary Macarthur School F NY #1,786/2,108 Nat'l #28,475/41,679

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

B Composite livability gradescore 78/100

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 · 187,989 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: 10% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Zoned commercial

Exterior

• Parking: No designated parking
• Utilities: Public waterPublic sewer
• Home design: Residential income propertyApartmentVinyl siding
• Construction: Vinyl siding construction
• Exterior features: Level lotOther exterior features

Interior

• Flooring: HardwoodTile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Steam heatingCeiling fan cooling
• Interior features: Gas water heaterHardwood and tile flooringHas basement

Price history

-18.8% since first listed

6 events — show timeline

• 2026-08-05 Listed $324,000 GBAOR
• 2026-05-11 Price Changed $339,000 GBAOR
• 2026-02-25 Listed $349,000 GBAOR
• 2025-10-30 Price Changed $349,000 GBAOR
• 2025-10-03 Price Changed $369,000 GBAOR
• 2025-08-07 Listed $399,000 GBAOR