1.5 Grand St · Binghamton, NY 13903

$69,000

3 bd · 1.0 ba · 1,001 sqft · SingleFamily public records · 2 Days on market

Built 1920 2,025 sqft lot Est $116k · 41% under

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

Listing remarks

This rehab opportunity was formerly a 4-bedroom, 2-bath home and has been opened up to create a more modern layout. With several major updates already completed, it's ready for the right buyer to bring their vision and finishing touches to make it their own. Improvements since purchase include a natural gas furnace, central air, updated roof, and partial exterior work. The second floor has been structurally enhanced with new joists and subflooring. Additional updates include a new basement door and installation of 11 windows throughout the home. All utilities are on and fully functional, making this an ideal project for investors or buyers looking to customize a home to their exact style.

Key facts

• Modern layout
• Updated roof
• Central air

Tags

• MODERN LAYOUT
• NATURAL GAS FURNACE
• CENTRAL AIR
• UPDATED ROOF
• PARTIAL EXTERIOR WORK
• STRUCTURALLY ENHANCED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Cap rate 18.2% 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: 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: 112 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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 $7k of equity ($477 loan paydown + $7k 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 $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $34k; list at $69k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.13% ✓
• Cap rate: 18.20%
• Cash-on-cash: 42.52%
• DSCR: 2.89
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $116,116
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Telegraph St	0.11mi	2/1.0 (-1)	996 (-0%)	19mo	$49,000	$49	73
11 Kress St	0.08mi	3/1.0	1,059 (+6%)	18mo	$84,900	$80	72
89 & 91 Evans Street St	0.47mi	3/1.0	1,043 (+4%)	1mo	$101,000	$97	70
11 Phinn Ave	0.39mi	2/1.0 (-1)	1,012 (+1%)	17mo	$125,080	$124	61
5 Evelyn Pl	0.22mi	2/1.0 (-1)	864 (-14%)	2mo	$113,900	$132	60
2 East Ave	0.10mi	2/2.0 (-1)	1,092 (+9%)	15mo	$98,900	$91	59
4 Evelyn Pl	0.21mi	2/1.0 (-1)	864 (-14%)	10mo	$130,000	$150	54
23 Martha St	0.61mi	3/1.0	1,104 (+10%)	1mo	$35,000	$32	54
4 Phinn Ave	0.42mi	2/1.0 (-1)	936 (-6%)	20mo	$128,000	$137	48
54 Second St	0.52mi	2/1.0 (-1)	900 (-10%)	12mo	$83,000	$92	44
75 Homer St	0.67mi	3/2.0	1,126 (+12%)	6mo	$131,000	$116	39
3 Edna Ave	0.71mi	3/1.0	1,100 (+10%)	19mo	$148,900	$135	35

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: 57.3%
• Equity multiple: 5.20×
• Total profit: $81,204
• Equity at exit: $62,161

10-year hold

• IRR: 50.8%
• Equity multiple: 11.60×
• Total profit: $204,887
• Equity at exit: $134,052

Cash invested: $19,320 (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 13903

• Home prices YoY: 4.3%
• Active inventory: 112
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,470 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $685

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 48%

Sensitivity live

Price	-10% $732	-5% $708	+0% $685	+5% $661	+10% $637
Rent	-10% $568	-5% $627	+0% $685	+5% $743	+10% $801
Rate	-1.0pp $719	-0.5pp $702	base $685	+0.5pp $667	+1.0pp $649

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	14d	1	0.32mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	0.34mi
231 Conklin Ave #2 Binghamton, NY	3.0	1.0	700	$1,350	$1.93	44d	1	0.35mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	14d	1	0.56mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	44d	1	0.58mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	22d	1	0.58mi
198 Court St Unit 6 Binghamton, NY	2.0	1.0	700	$1,350	$1.93	22d	1	0.60mi
198 Court St Unit 10 Binghamton, NY	2.0	1.0	700	$1,200	$1.71	22d	1	0.60mi
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	14d	1	0.62mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	44d	1	0.64mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	44d	1	0.70mi
81 State St Unit 2 Binghamton, NY	2.0	2.0	800	$1,000	$1.25	44d	1	0.73mi
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	44d	1	0.94mi
26 Doubleday St #2 Binghamton, NY	2.0	1.0	850	$1,400	$1.65	45d	1	0.97mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	44d	1	0.97mi
7 Maria Mnr Unit 2 Binghamton, NY	2.0	1.0	850	$995	$1.17	44d	1	1.11mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	44d	1	1.21mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	44d	1	1.27mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	44d	1	1.27mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	44d	1	1.27mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	22d	1	1.29mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	44d	1	1.33mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	1.36mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	44d	1	1.36mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	44d	1	1.41mi
28 Lydia St Unit 1-R Binghamton, NY	2.0	1.0	770	$1,200	$1.56	45d	1	1.43mi
37 Bigelow St Unit 1 Binghamton, NY	3.0	1.5	854	$1,500	$1.76	14d	1	1.46mi
147 E Frederick St Binghamton, NY	2.0	1.0	800	$1,200	$1.50	14d	1	1.50mi

Listing history 3 events

1. 2026-04-24
   status Pending
2. 2026-04-22
   listed $69,000 Active
3. 2016-03-22
   soldstatus $34,145

ⓘ 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 5/10 Major FEMA zone X · 66% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 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: $17,642
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − Depreciation: −$2,007
• Taxable income: $7,567
• Est. tax owed @ 24.0%: −$1,816
• After-tax cash flow: $6,399/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): 17,569
• Household income: $66,278
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 602.0

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% Black 9% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 6% Slovak 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 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: ▲ 11.68%
• Current HPI: 286.1001
• 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

+102.1% since first listed

3 events — show timeline

• 2026-04-24 Pending — CNYIS
• 2026-04-22 Listed $69,000 CNYIS
• 2016-03-22 Sold (Public Records) $34,145 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,375 · +0.9% YoY. Source: county tax records.