1 Chelsea Sq · Binghamton, NY 13905

$104,999

2 bd · 1.5 ba · 1,024 sqft · Townhouse public records · 4 Days on market

Built 1986 3,049 sqft lot Est $106k · at est.

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Why this score? — see what drove the C+ 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 +22.8/30.0
• ARV discount +8.1/15.0
• 1% rule +7.9/10.0
• DSCR +7.3/10.0
• 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

Listing remarks MLS

This charming townhome will be a great addition to your portfolio, or owner occupy with some updating!

Key facts

• Newer kitchen
• Updated bathrooms
• Updated flooring

Tags

• FENCED-IN YARD
• NEWER KITCHEN
• UPDATED BATHROOMS
• UPDATED FLOORING
• CLOSE TO PUBLIC TRANSPORTATION
• NEAR DOWNTOWN BINGHAMTON

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Townhouse; Residential property
• Construction: Vinyl siding; Slab foundation; Built area above grade: 1,024
• Exterior features: Deck; Fenced yard; Level lot

Interior

• Kitchen: Dishwasher
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; No central cooling
• Interior features: Dishwasher; Electric water heater
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $105k.

Deal economics

• At list price, monthly cash flow is $116 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Cap rate 8.4% 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: 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; 36 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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 $726 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 + 8.0% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y ago 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.
• Current owner paid $36k; list at $105k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,999

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.29% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $106,496
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Chelsea Sq	0.03mi	2/1.0	1,024 (0%)	15mo	$92,000	$90	84
185D Oak St	0.04mi	2/1.5	1,024 (0%)	17mo	$80,000	$78	84
29 Gregory Ln	0.27mi	2/1.5	1,024 (0%)	9mo	$115,000	$112	80
70 Saint John Ave	0.68mi	3/2.0 (+1)	1,056 (+3%)	14mo	$110,000	$104	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: -1.9%
• Equity multiple: 0.92×
• Total profit: $-2,289
• Equity at exit: $15,656

10-year hold

• IRR: 13.5%
• Equity multiple: 2.39×
• Total profit: $40,873
• Equity at exit: $9,078

Cash invested: $29,400 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,360 high
• Mortgage (P&I): −$551
• Tax from tax record: −$297 /mo · $3,569/yr
• Insurance: −$44
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $116

Break-even live

Break-even rent $1,213

Max offer price $104,999

Occupancy floor 86%

Sensitivity live

Price	-10% $175	-5% $146	+0% $116	+5% $86	+10% $56
Rent	-10% $8	-5% $62	+0% $116	+5% $170	+10% $223
Rate	-1.0pp $169	-0.5pp $143	base $116	+0.5pp $89	+1.0pp $61

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Lydia St Unit 1-R Binghamton, NY	2.0	1.0	770	$1,200	$1.56	45d	1	0.12mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	44d	1	0.17mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	44d	1	0.22mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	44d	1	0.31mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	0.36mi
159 Washington St Binghamton, NY	1.0	1.0	725	$1,372	$1.89	44d	4	0.55mi
81 State St Unit 2 Binghamton, NY	2.0	2.0	800	$1,000	$1.25	44d	1	0.64mi
80 State St Unit A 6 Loft Binghamton, NY	1.0	1.0	800	$1,200	$1.50	44d	1	0.67mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	44d	1	0.67mi
274 Chenango St Unit 1 Binghamton, NY	1.0	1.0	850	$1,200	$1.41	44d	1	0.73mi
50 Front St Binghamton, NY	1.0	1.0	1092	$2,450	$2.24	14d	8	0.73mi
26 Doubleday St #2 Binghamton, NY	2.0	1.0	850	$1,400	$1.65	45d	1	0.80mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	44d	1	0.80mi
36 Haendel St Unit Second Floor Binghamton, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.83mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	44d	1	0.83mi
198 Court St Unit 6 Binghamton, NY	2.0	1.0	700	$1,350	$1.93	21d	1	0.84mi
198 Court St Unit 10 Binghamton, NY	2.0	1.0	700	$1,200	$1.71	21d	1	0.84mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	14d	1	0.86mi
38 Carroll St Unit 21 Binghamton, NY	1.0	1.0	800	$1,050	$1.31	44d	1	0.92mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	44d	1	0.99mi
263 Main St Binghamton, NY	2.0	1.0	920	$1,200	$1.30	14d	1	1.02mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	14d	1	1.02mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	14d	1	1.11mi
1 Sturges St #2 Binghamton, NY	2.0	1.0	800	$1,200	$1.50	14d	1	1.13mi
133 Crestmont Rd Unit 2 Binghamton, NY	3.0	1.0	1300	$1,900	$1.46	44d	1	1.14mi
296 Main St Unit 6 Binghamton, NY	3.0	1.0	1200	$1,250	$1.04	14d	1	1.15mi
99 Helen St Unit 2 Binghamton, NY	3.0	1.0	1220	$1,600	$1.31	44d	1	1.17mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	44d	1	1.21mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	1.25mi
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	14d	1	1.27mi
111 Glenwood Ave Unit 1 Binghamton, NY	1.0	1.0	800	$900	$1.12	14d	1	1.31mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	44d	1	1.31mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	21d	1	1.31mi
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	14d	1	1.35mi
14 Dennison Ave Unit 2 Binghamton, NY	2.0	1.0	1100	$1,150	$1.05	44d	1	1.38mi
231 Conklin Ave #2 Binghamton, NY	3.0	1.0	700	$1,350	$1.93	44d	1	1.43mi

Listing history 5 events

1. 2026-06-19
   days on market $104,999 Active 4 DOM
2. 2026-06-18
   days on market $104,999 Active 3 DOM
3. 2026-06-17
   days on market $104,999 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $104,999 Active 1 DOM

ⓘ 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: $3,569 · $297/mo
• Projected year-2 tax: $3,569 · $297/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) · 76% 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: $16,315
• − Mortgage interest: −$5,882
• − Property taxes: −$3,569
• − Insurance: −$1,322
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$3,055
• Taxable loss: −$123
• Est. tax savings @ 24.0%: +$30
• After-tax cash flow: $1,419/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

+191.7% since first listed

9 events — show timeline

• 2026-06-15 Listed $104,999 GBAOR
• 2024-01-10 Rental Removed $1,300 GBAOR
• 2023-11-20 Listed for Rent $1,300 GBAOR
• 2023-08-11 Sold (MLS) $36,500 GBAOR
• 2023-07-08 Delisted — GBAOR
• 2023-07-08 Listed $41,500 GBAOR
• 2015-11-04 Sold (MLS) $38,000 GBAOR
• 2014-12-03 Listed $45,000 GBAOR
• 2001-07-11 Sold (Public Records) $36,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $3,569 · +0.9% YoY. Source: county tax records.