27 Rutherford St · Binghamton, NY 13901

$99,000

4 bd · 2.0 ba · 2,168 sqft · MultiFamily public records · 116 Days on market

Built 1920 2,178 sqft lot Est $128k · 23% under

---

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
• 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

This multi-family property is a great investment opportunity. Each tenant unit has its own utilities, making it easy to manage. Located within walking distance to both the University Center and Downtown Binghamton.

Key facts

• Own utilities
• 2,178 sq ft lot
• Built 1920

Tags

• INVESTMENT OPPORTUNITY
• OWN UTILITIES

Property features AI

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income property)
• Construction: Vinyl siding
• Exterior features: Covered porch; Level lot

Interior

• Bedrooms: Two units each with 3 bedrooms
• Flooring: Vinyl
• Bathrooms: Two full bathrooms total (one full bathroom in each unit)
• Heating & cooling: Forced air heating; No central cooling reported
• Interior features: Gas water heater; Vinyl flooring; Basement present
• Laundry & utility: Washer hookup

🏷️ Possibly a rental listed for sale. The $99,000 price doesn't fit this home's estimated sale value (~$127,912) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% 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 $2,206/mo this rent would consume 48% 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 $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask has dropped $36k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $99k implies a 366% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 2.23% ✓
• Cap rate: 18.82%
• Cash-on-cash: 44.74%
• DSCR: 2.99
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $127,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Jay St	0.17mi	4/2.0	2,316 (+7%)	7mo	$130,000	$56	74
14 Emmett St	0.41mi	4/2.0	2,220 (+2%)	4mo	$90,000	$41	73
28 Jackson St	0.41mi	5/2.0 (+1)	2,208 (+2%)	2mo	$100,000	$45	71
155 Hawley St	0.17mi	3/2.0 (-1)	1,958 (-10%)	14mo	$120,000	$61	59
6 John St	0.53mi	4/2.0	1,970 (-9%)	2mo	$155,000	$79	58
30 Telegraph St	0.64mi	4/2.0	2,116 (-2%)	15mo	$129,900	$61	53
5 Parsons St	0.74mi	4/4.0	2,064 (-5%)	1mo	$205,000	$99	49
22 Hancock St	0.59mi	5/2.0 (+1)	2,028 (-6%)	11mo	$125,000	$62	47
12 Birch St	0.57mi	4/2.0	2,292 (+6%)	20mo	$135,150	$59	47
2 Munsell St	0.49mi	4/2.0	2,392 (+10%)	20mo	$115,000	$48	44
14 Evans St	0.59mi	5/2.0 (+1)	2,350 (+8%)	22mo	$135,000	$57	36
13 Mcdonald Ave	0.69mi	3/2.0 (-1)	1,900 (-12%)	10mo	$46,000	$24	34

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: 41.8%
• Equity multiple: 2.80×
• Total profit: $49,827
• Equity at exit: $14,761

10-year hold

• IRR: 48.0%
• Equity multiple: 5.63×
• Total profit: $128,342
• Equity at exit: $8,560

Cash invested: $27,720 (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: 3.7×

Monthly cashflow live

• Estimated rent: $2,206 high
• Mortgage (P&I): −$519
• Tax from tax record: −$149 /mo · $1,790/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $1,033

Break-even live

Break-even rent $898

Max offer price $99,000

Occupancy floor 48%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	44d	1	0.33mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	0.60mi
51 2nd St Binghamton, NY	3.0	2.5	2333	$2,200	$0.94	13d	1	0.71mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	44d	1	0.86mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	0.93mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	44d	1	0.97mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	44d	1	1.19mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	44d	1	1.21mi
13 Chapin St Binghamton, NY	4.0	3.0	2452	$4,000	$1.63	44d	1	1.32mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	44d	1	1.46mi

Listing history 16 events

1. 2026-06-01
   days on market $99,000 Active 116 DOM
2. 2026-05-31
   days on market $99,000 Active 115 DOM
3. 2026-05-30
   days on market $99,000 Active 114 DOM
4. 2026-05-18
   price $99,000
5. 2026-05-16
   status Active
6. 2026-05-13
   price $110,000
7. 2026-05-12
   status Active
8. 2026-04-02
   status Pending
9. 2026-03-02
   status Active
10. 2026-01-22
    status Pending
11. 2026-01-12
    price $120,000
12. 2025-11-14
    listed $135,000 Active
13. 2019-06-26
    listed $51,000
14. 2017-09-29
    listed $51,000
15. 2017-01-24
    listed $60,000
16. 2004-12-14
    soldstatus $21,250

ⓘ 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: $1,790 · $149/mo
• Projected year-2 tax: $1,790 · $149/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $26,476
• − Mortgage interest: −$5,546
• − Property taxes: −$1,790
• − Insurance: −$495
• − Repairs & maintenance: −$2,118
• − Management: −$2,118
• − Depreciation: −$2,880
• Taxable income: $11,530
• Est. tax owed @ 24.0%: −$2,767
• After-tax cash flow: $9,634/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

+365.9% since first listed

13 events — show timeline

• 2026-05-18 Price Changed $99,000 GBAOR
• 2026-05-16 Relisted — GBAOR
• 2026-05-13 Price Changed $110,000 GBAOR
• 2026-05-12 Relisted — GBAOR
• 2026-04-02 Pending — GBAOR
• 2026-03-02 Relisted — GBAOR
• 2026-01-22 Pending — GBAOR
• 2026-01-12 Price Changed $120,000 GBAOR
• 2025-11-14 Listed $135,000 GBAOR
• 2019-06-26 Listed $51,000 GBAOR
• 2017-09-29 Listed $51,000 GBAOR
• 2017-01-24 Listed $60,000 GBAOR
• 2004-12-14 Sold (Public Records) $21,250 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,790 · +0.9% YoY. Source: county tax records.