155 Susquehanna Street St · Binghamton, NY 13901

$60,000

6 bd · 2.0 ba · 2,534 sqft · MultiFamily public records · 133 Days on market

Built 1900 4,625 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

REO-owned bank foreclosure. Being sold as-is.

Key facts

• 4,625 sq ft lot
• Built 1900
• Listed 133 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 49.6% 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: Macarthur School (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 398 students, 62% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 92 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $3,267/mo this rent would consume 71% of the median local household income ($56k/yr) (locally 1230% 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 $415 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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 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: 5.45% ✓
• Cap rate: 49.62%
• Cash-on-cash: 154.73%
• DSCR: 7.88
• GRM: 1.5

CMA / ARV

• ARV (on-the-fly): $169,778
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Mill St	0.38mi	6/2.0	2,485 (-2%)	1mo	$220,000	$89	79
233 Conklin Ave	0.47mi	6/2.0	2,576 (+2%)	9mo	$163,000	$63	68
231 Conklin Ave	0.46mi	6/2.0	2,432 (-4%)	9mo	$163,000	$67	64
14 Wales Ave	0.63mi	6/2.0	2,654 (+5%)	1mo	$108,000	$41	62
192 Conklin Ave	0.40mi	6/2.0	2,253 (-11%)	5mo	$115,000	$51	59
5 Otseningo St	0.39mi	6/2.0	2,380 (-6%)	16mo	$194,000	$82	58
28 Jackson St	0.40mi	5/2.0 (-1)	2,208 (-13%)	2mo	$100,000	$45	53
62 Conklin Ave	0.46mi	6/5.0	2,520 (-1%)	16mo	$250,000	$99	52
19 Mcnamara Ave	0.53mi	5/2.0 (-1)	2,688 (+6%)	12mo	$200,000	$74	50
23 Robinson St	0.68mi	7/4.0 (+1)	2,612 (+3%)	3mo	$90,000	$34	47
17 Mcnamara Ave	0.53mi	6/2.0	2,184 (-14%)	8mo	$225,000	$103	45
114 Conklin Ave	0.32mi	5/4.0 (-1)	2,822 (+11%)	10mo	$176,000	$62	45

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: —
• Equity multiple: 8.43×
• Total profit: $124,795
• Equity at exit: $8,946

10-year hold

• IRR: —
• Equity multiple: 17.79×
• Total profit: $282,114
• Equity at exit: $5,188

Cash invested: $16,800 (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 13901

• Home prices YoY: -5.1%
• Active inventory: 92
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $3,267 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$686
• Net cashflow: $2,111

Break-even live

Break-even rent $595

Max offer price $60,000

Occupancy floor 30%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,268
Total (2 units)			$3,267

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	0.32mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	43d	1	0.86mi
2 Chapel Pl Binghamton, NY	6.0	3.0	2600	$650	$0.25	43d	1	0.87mi
44 Leroy St Binghamton, NY	6.0	2.0	1772	$3,000	$1.69	21d	1	0.99mi
19 Edwards St Binghamton, NY	7.0	3.0	2989	$600	$0.20	43d	1	1.18mi

Listing history 6 events

1. 2026-02-18
   status Pending
2. 2026-01-30
   soldstatus $370,000
3. 2025-12-19
   price $60,000
4. 2025-10-08
   listed $70,000 Active
5. 2022-01-28
   soldstatus $120,000
6. 2010-10-08
   soldstatus $20,350

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥92°F today · 17 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: $39,204
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$966
• − Repairs & maintenance: −$3,136
• − Management: −$3,136
• − Depreciation: −$1,745
• Taxable income: $25,958
• Est. tax owed @ 24.0%: −$6,230
• After-tax cash flow: $19,099/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): 19,613
• Household income: $55,523
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 1230.0

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 (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%

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

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

+1718.2% since first listed

6 events — show timeline

• 2026-02-18 Pending — GBAOR
• 2026-01-30 Sold (Public Records) $370,000 Public Records
• 2025-12-19 Price Changed $60,000 GBAOR
• 2025-10-08 Listed $70,000 GBAOR
• 2022-01-28 Sold (Public Records) $120,000 Public Records
• 2010-10-08 Sold (Public Records) $20,350 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,341 · +0.9% YoY. Source: county tax records.