197 Oak St · Binghamton, NY 13905

$129,000

6 bd · 2.0 ba · 2,294 sqft · MultiFamily public records · 114 Days on market

Built 1910 7,840 sqft lot Est $170k · 24% under

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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
• ARV discount +15.0/15.0
• 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
• 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 MLS

2 family with 3 bedroom living room dinning room kitchen each unit HUD HOME SOLD "AS IS " by elec. bid only. Prop avail 5/4/21 bids due by 11:59PM Central Time daily until sold. #371-190291 IE INSURED W/ ESCROW . Eligible FHA 203K financing FHA coventional cash Rpr. www. HUDHomestore.com for form & PCR BLB Resources makes no warranty as to condition of property. Buyer to verify all info?

Key facts

• Covered front porch
• New furnace
• New electric service

Tags

• COVERED FRONT PORCH
• OFF STREET PARKING
• REPLACEMENT WINDOWS
• NEW FURNACE
• NEW ELECTRIC SERVICE
• UPDATED PLUMBING

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Cable available
• Home design: Duplex (residential income property); Level lot; Zoned for one- and two-unit residential
• Construction: Wood siding
• Exterior features: Covered porch

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Two units each with 3 bedrooms
• Flooring: Hardwood; Laminate
• Bathrooms: Two full bathrooms total (one full bathroom in each unit)
• Heating & cooling: Forced air heating; Ceiling fan(s)
• Interior features: High speed internet; Insulated windows
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $129k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $737/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $129k).
• Recommended offer: $117k (9.0% 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: 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $892 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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $19k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $129k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,390 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 2.51% ✓
• Cap rate: 20.53%
• Cash-on-cash: 50.85%
• DSCR: 3.26
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $169,756
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 Elm St	0.15mi	6/2.0	2,304 (+0%)	8mo	$171,000	$74	85
200 Murray St	0.05mi	6/2.0	2,442 (+6%)	8mo	$92,500	$38	80
198 Chapin St	0.26mi	5/3.0 (-1)	2,146 (-6%)	8mo	$193,000	$90	61
198 Chapin St #2	0.26mi	5/3.0 (-1)	2,145 (-6%)	8mo	$193,000	$90	61
199 Chapin St	0.27mi	5/3.0 (-1)	2,414 (+5%)	20mo	$150,000	$62	53
103 Walnut St	0.41mi	5/4.0 (-1)	2,406 (+5%)	19mo	$45,150	$19	44

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: 52.6%
• Equity multiple: 3.50×
• Total profit: $90,289
• Equity at exit: $19,234

10-year hold

• IRR: 60.0%
• Equity multiple: 8.70×
• Total profit: $278,019
• Equity at exit: $11,154

Cash invested: $36,120 (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: 6.7×

Monthly cashflow live

• Estimated rent: $3,233 high
• Mortgage (P&I): −$676
• Tax from tax record: −$293 /mo · $3,520/yr
• Insurance: −$54
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $1,475

Break-even live

Break-even rent $1,366

Max offer price $129,000

Occupancy floor 49%

Sensitivity live

Price	-10% $1,548	-5% $1,512	+0% $1,475	+5% $1,438	+10% $1,402
Rent	-10% $1,220	-5% $1,347	+0% $1,475	+5% $1,603	+10% $1,730
Rate	-1.0pp $1,540	-0.5pp $1,508	base $1,475	+0.5pp $1,442	+1.0pp $1,408

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,232
Total (2 units)			$3,233

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	45d	1	0.40mi
19 Edwards St Binghamton, NY	7.0	3.0	2989	$600	$0.20	45d	1	0.51mi
2 Chapel Pl Binghamton, NY	6.0	3.0	2600	$650	$0.25	45d	1	0.67mi
44 Leroy St Binghamton, NY	6.0	2.0	1772	$3,000	$1.69	22d	1	0.82mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	45d	1	0.85mi
16 Highland Ave Unit 2 Binghamton, NY	6.0	1.0	2000	$2,750	$1.38	45d	1	1.07mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	14d	1	1.15mi

Listing history 24 events

1. 2026-06-21
   days on market $129,000 Active 114 DOM
2. 2026-06-19
   days on market $129,000 Active 112 DOM
3. 2026-06-18
   days on market $129,000 Active 111 DOM
4. 2026-06-17
   days on market $129,000 Active 110 DOM
5. 2026-06-16
   days on market $129,000 Active 109 DOM
6. 2026-06-15
   days on market $129,000 Active 108 DOM
7. 2026-06-14
   days on market $129,000 Active 106 DOM
8. 2026-06-13
   remarks 683-char remark
9. 2026-06-13
   days on market $129,000 Active 105 DOM
10. 2026-06-10
    pricestatusdays on market $129,000 Active 103 DOM
11. 2026-06-09
    days on market $135,000 Active Under Contract 102 DOM
12. 2026-06-08
    days on market $135,000 Active Under Contract 101 DOM
13. 2026-06-07
    days on market $135,000 Active Under Contract 100 DOM
14. 2026-06-03
    days on market $135,000 Active Under Contract 96 DOM
15. 2026-06-02
    days on market $135,000 Active Under Contract 95 DOM
16. 2026-06-01
    days on market $135,000 Active Under Contract 94 DOM
17. 2026-05-31
    days on market $135,000 Active Under Contract 93 DOM
18. 2026-05-30
    days on market $135,000 Active Under Contract 92 DOM
19. 2026-04-10
    historical Active Under Contract
20. 2026-03-17
    status Pending
21. 2026-02-16
    price $135,000
22. 2026-02-03
    listed $148,000 Active
23. 2021-06-01
    soldstatus $35,170 407-char remark

    Show marketing remark (407 chars)

    2 family with 3 bedroom living room dinning room kitchen each unit HUD HOME SOLD "AS IS " by elec. bid only. Prop avail 5/4/21 bids due by 11:59PM Central Time daily until sold. #371-190291 IE INSURED W/ ESCROW . Eligible FHA 203K financing FHA coventional cash Rpr. www. HUDHomestore.com for form & PCR BLB Resources makes no warranty as to condition of property. Buyer to verify all info?

24. 2021-03-12
    listed $38,000 407-char remark

    Show marketing remark (407 chars)

    2 family with 3 bedroom living room dinning room kitchen each unit HUD HOME SOLD "AS IS " by elec. bid only. Prop avail 5/4/21 bids due by 11:59PM Central Time daily until sold. #371-190291 IE INSURED W/ ESCROW . Eligible FHA 203K financing FHA coventional cash Rpr. www. HUDHomestore.com for form & PCR BLB Resources makes no warranty as to condition of property. Buyer to verify all info?

ⓘ 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: $3,520 · $293/mo
• Projected year-2 tax: $3,520 · $293/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $38,796
• − Mortgage interest: −$7,226
• − Property taxes: −$3,520
• − Insurance: −$1,312
• − Repairs & maintenance: −$3,104
• − Management: −$3,104
• − Depreciation: −$3,753
• Taxable income: $16,779
• Est. tax owed @ 24.0%: −$4,027
• After-tax cash flow: $13,673/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

+255.3% since first listed

6 events — show timeline

• 2026-04-10 Contingent — GBAOR
• 2026-03-17 Pending — GBAOR
• 2026-02-16 Price Changed $135,000 GBAOR
• 2026-02-03 Listed $148,000 GBAOR
• 2021-06-01 Sold (MLS) $35,170 GBAOR
• 2021-03-12 Listed $38,000 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $3,520 · +0.9% YoY. Source: county tax records.