32 Broome Street St · Binghamton, NY 13903

$550,000

12 bd · 6.0 ba · 5,824 sqft · MultiFamily public records · 162 Days on market

Built 1975 0.27 ac lot $94/sqft · 77% above area

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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 +21.8/30.0
• Appreciation +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Welcome to 32 Broome Street in Binghamton. This well-maintained six-unit multifamily property is a great opportunity to start or expand your investment portfolio. Each of the six apartments offers 2 bedrooms and 1 full bathroom. This property includes ample off-street parking, electric baseboard heat, and private balconies at the rear of the building. Additional income is generated through coin-operated laundry in the basement. Conveniently located near bus lines, shopping, and amenities. With solid income potential and desirable features, this is a smart addition to any rental portfolio. Schedule your showing and submit your offer today!

Key facts

• Private balconies
• Multifamily property
• Built 1975

Tags

• MULTIFAMILY PROPERTY
• AMPLE OFF-STREET PARKING
• PRIVATE BALCONIES
• COIN-OPERATED LAUNDRY
• SHOPPING AND AMENITIES

What this means for you Summary

Snapshot

• This is a 12-bed/6.0-bath multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $788 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $550k).
• Recommended offer: $484k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 6.4% in Binghamton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $59k of equity ($4k loan paydown + $55k 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 $154k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$95k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $465k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $484,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.27% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 6.6

CMA / ARV

• ARV (median comp): $310,133
• List price: $550,000
• Delta: 77.34%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
64 Jackson St	0.15mi	12/4.0	5,490 (-6%)	6mo	$213,000	$39	70

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: 28.8%
• Equity multiple: 3.28×
• Total profit: $350,407
• Equity at exit: $495,484

10-year hold

• IRR: 25.1%
• Equity multiple: 7.45×
• Total profit: $993,775
• Equity at exit: $1,068,529

Cash invested: $154,000 (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: 39.3×

Monthly cashflow live

• Estimated rent: $6,989 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$1,553 /mo · $18,642/yr
• Insurance: −$229
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,468
• Net cashflow: $788

Break-even live

Break-even rent $5,992

Max offer price $550,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$6,990
Total (6 units)			$6,989

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-10
   days on market $550,000 Active 162 DOM
2. 2026-06-09
   days on market $550,000 Active 161 DOM
3. 2026-06-08
   days on market $550,000 Active 160 DOM
4. 2026-06-07
   days on market $550,000 Active 159 DOM
5. 2026-06-03
   days on market $550,000 Active 155 DOM
6. 2026-06-02
   days on market $550,000 Active 154 DOM
7. 2026-06-01
   days on market $550,000 Active 153 DOM
8. 2026-05-31
   days on market $550,000 Active 152 DOM
9. 2026-05-30
   days on market $550,000 Active 151 DOM
10. 2025-12-30
    listed $550,000 Active 646-char remark

    Show marketing remark (646 chars)

    Welcome to 32 Broome Street in Binghamton. This well-maintained six-unit multifamily property is a great opportunity to start or expand your investment portfolio. Each of the six apartments offers 2 bedrooms and 1 full bathroom. This property includes ample off-street parking, electric baseboard heat, and private balconies at the rear of the building. Additional income is generated through coin-operated laundry in the basement. Conveniently located near bus lines, shopping, and amenities. With solid income potential and desirable features, this is a smart addition to any rental portfolio. Schedule your showing and submit your offer today!

11. 2024-07-22
    soldstatus $465,000 Closed 675-char remark

    Show marketing remark (675 chars)

    Back on the market! This six unit building in Binghamton is an excellent building to begin or add to your investment portfolio! Each apartment has 2 bedrooms and 1 bathroom, and the building has been very well maintained over the years. 6 of the 7 water heaters have been recently replaced and there is plenty of off-street parking for each tenant. Close to bus lines and shopping, this property has high walkability. All units have electric baseboard heat and a balcony off the back of the building. Tenants pay electric and gas, owner pays water and for trash pickup. There is coin-op laundry in the basement for extra income. Great income potential! Make your offer today!

12. 2024-05-26
    status Pending 675-char remark

    Show marketing remark (675 chars)

    Back on the market! This six unit building in Binghamton is an excellent building to begin or add to your investment portfolio! Each apartment has 2 bedrooms and 1 bathroom, and the building has been very well maintained over the years. 6 of the 7 water heaters have been recently replaced and there is plenty of off-street parking for each tenant. Close to bus lines and shopping, this property has high walkability. All units have electric baseboard heat and a balcony off the back of the building. Tenants pay electric and gas, owner pays water and for trash pickup. There is coin-op laundry in the basement for extra income. Great income potential! Make your offer today!

13. 2024-03-20
    status Active 675-char remark

    Show marketing remark (675 chars)

    Back on the market! This six unit building in Binghamton is an excellent building to begin or add to your investment portfolio! Each apartment has 2 bedrooms and 1 bathroom, and the building has been very well maintained over the years. 6 of the 7 water heaters have been recently replaced and there is plenty of off-street parking for each tenant. Close to bus lines and shopping, this property has high walkability. All units have electric baseboard heat and a balcony off the back of the building. Tenants pay electric and gas, owner pays water and for trash pickup. There is coin-op laundry in the basement for extra income. Great income potential! Make your offer today!

14. 2024-03-11
    status Pending 675-char remark

    Show marketing remark (675 chars)

    Back on the market! This six unit building in Binghamton is an excellent building to begin or add to your investment portfolio! Each apartment has 2 bedrooms and 1 bathroom, and the building has been very well maintained over the years. 6 of the 7 water heaters have been recently replaced and there is plenty of off-street parking for each tenant. Close to bus lines and shopping, this property has high walkability. All units have electric baseboard heat and a balcony off the back of the building. Tenants pay electric and gas, owner pays water and for trash pickup. There is coin-op laundry in the basement for extra income. Great income potential! Make your offer today!

15. 2024-02-20
    status Active 675-char remark

    Show marketing remark (675 chars)

    Back on the market! This six unit building in Binghamton is an excellent building to begin or add to your investment portfolio! Each apartment has 2 bedrooms and 1 bathroom, and the building has been very well maintained over the years. 6 of the 7 water heaters have been recently replaced and there is plenty of off-street parking for each tenant. Close to bus lines and shopping, this property has high walkability. All units have electric baseboard heat and a balcony off the back of the building. Tenants pay electric and gas, owner pays water and for trash pickup. There is coin-op laundry in the basement for extra income. Great income potential! Make your offer today!

16. 2024-02-09
    status Pending 675-char remark

    Show marketing remark (675 chars)

    Back on the market! This six unit building in Binghamton is an excellent building to begin or add to your investment portfolio! Each apartment has 2 bedrooms and 1 bathroom, and the building has been very well maintained over the years. 6 of the 7 water heaters have been recently replaced and there is plenty of off-street parking for each tenant. Close to bus lines and shopping, this property has high walkability. All units have electric baseboard heat and a balcony off the back of the building. Tenants pay electric and gas, owner pays water and for trash pickup. There is coin-op laundry in the basement for extra income. Great income potential! Make your offer today!

17. 2024-01-30
    listed $515,000 Active 675-char remark

    Show marketing remark (675 chars)

    Back on the market! This six unit building in Binghamton is an excellent building to begin or add to your investment portfolio! Each apartment has 2 bedrooms and 1 bathroom, and the building has been very well maintained over the years. 6 of the 7 water heaters have been recently replaced and there is plenty of off-street parking for each tenant. Close to bus lines and shopping, this property has high walkability. All units have electric baseboard heat and a balcony off the back of the building. Tenants pay electric and gas, owner pays water and for trash pickup. There is coin-op laundry in the basement for extra income. Great income potential! Make your offer today!

18. 2023-08-16
    status Pending
19. 2023-07-08
    listed $550,000 Active
20. 2008-09-11
    soldstatus $220,000

ⓘ 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: $18,642 · $1,553/mo
• Projected year-2 tax: $18,642 · $1,553/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 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: $83,868
• − Mortgage interest: −$30,809
• − Property taxes: −$18,642
• − Insurance: −$3,548
• − Repairs & maintenance: −$6,709
• − Management: −$6,709
• − Depreciation: −$16,000
• Taxable income: $1,451
• Est. tax owed @ 24.0%: −$348
• After-tax cash flow: $9,107/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

+150.0% since first listed

11 events — show timeline

• 2025-12-30 Listed $550,000 GBAOR
• 2024-07-22 Sold (MLS) $465,000 GBAOR
• 2024-05-26 Pending — GBAOR
• 2024-03-20 Relisted — GBAOR
• 2024-03-11 Pending — GBAOR
• 2024-02-20 Relisted — GBAOR
• 2024-02-09 Pending — GBAOR
• 2024-01-30 Listed $515,000 GBAOR
• 2023-08-16 Pending — GBAOR
• 2023-07-08 Listed $550,000 GBAOR
• 2008-09-11 Sold (Public Records) $220,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $18,642 · +0.9% YoY. Source: county tax records.