45 Woodcrest Way · Binghamton, NY 13748

$178,000

3 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 13 Days on market

Built 1958 0.60 ac lot $114/sqft · at area comps Est $220k · 19% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +4.6/10.0
• Cash flow +4.4/30.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

MAJOR PRICE REDUCTION! Amazing Large Ranch! 3 bd/2.5 Ba. Addition added to create large, open living space with raised ceiling. Newer Stove (2yr) & D/W (2mo). New Furn w/ Humidifier, HWH, & W/ D. Roof (8yr). Majority new windows. Hdwds throughout. Inside painted neutral colors! New kitchen counters. Fabulous deck! Walkout LL. Lots of Privacy. Gazebo area. ALSO INCLUDED NEWER RIDING TRACTOR/LAWNMOWER.

Key facts

• Open-concept home
• Walk-out lower level
• Vaulted ceiling

Tags

• OPEN-CONCEPT HOME
• VAULTED CEILING
• LARGE MULTI-LEVEL DECK
• HARDWOOD FLOORS
• REPLACEMENT WINDOWS
• WALK-OUT LOWER LEVEL

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Public water; Septic tank sewer; Cable available
• Home design: Single family residence; One story; Residential property
• Construction: Wood siding construction; Above-grade finished living area; Finished lower level; Built as a single-story design
• Exterior features: Deck; Waterfront lot; Riverfront location; Has a view

Interior

• Kitchen: Range; Free-standing range; Dishwasher; Refrigerator; Gas water heater
• Flooring: Hardwood; Tile; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Ceiling fans for cooling
• Interior features: Cathedral ceilings; Vaulted ceilings; Insulated windows; Total of 14 rooms
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $-926 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $75k (57.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (30.3% below list).
• Recommended offer: $75k (57.8% below list) — sets the bar for cash-flow.
• Cap rate 3.2% vs local median 6.4% in Binghamton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Susquehanna Valley Central School District (rural): math 48% / reading 57% proficiency, ranked #330 of 590 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: F P Donnelly School (math 37% / reading 52%, grade F, #1,277 of 2,108 statewide, top 64%, 295 students, 48% FRL).
• Market conditions: 13 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 $19k of equity ($1k loan paydown + $18k 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.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $460/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,164 (57.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1958 — 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. 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 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: 0.70% ✗
• Cap rate: 3.16%
• Cash-on-cash: -11.20%
• DSCR: 0.50
• GRM: 12.0

CMA / ARV

• ARV (median comp): $219,516
• List price: $178,000
• Delta: -18.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
67 Woodcrest Way	0.18mi	3/1.5	1,512 (-3%)	2mo	$210,000	$139	82
7 Grandview Ave	0.16mi	4/2.0 (+1)	1,583 (+2%)	8mo	$165,000	$104	74
28 Wilbur Way	0.36mi	3/2.0	1,586 (+2%)	7mo	$200,000	$126	70
61 Leslie Ave	0.37mi	3/2.0	1,500 (-4%)	8mo	$191,000	$127	66
5 Bradley Ave	0.26mi	3/2.5	1,542 (-1%)	22mo	$187,000	$121	62
10 Roxbury St	0.74mi	3/2.0	1,524 (-2%)	6mo	$180,200	$118	53
18 Leslie Ave	0.29mi	4/2.0 (+1)	1,488 (-5%)	23mo	$175,100	$118	51
28 Roxbury St	0.62mi	2/2.0 (-1)	1,616 (+4%)	22mo	$139,750	$86	38

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: 9.1%
• Equity multiple: 1.77×
• Total profit: $38,419
• Equity at exit: $160,357

10-year hold

• IRR: 10.8%
• Equity multiple: 4.22×
• Total profit: $160,365
• Equity at exit: $345,815

Cash invested: $49,840 (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 13748

• Home prices YoY: 30.7%
• Active inventory: 13
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,240 medium
• Mortgage (P&I): −$933
• Tax from tax record: −$438 /mo · $5,250/yr
• Insurance: −$74
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $-926

Break-even live

Break-even rent $2,412

Max offer price $75,164

Occupancy floor —

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-06
   status Pending 975-char remark
2. 2026-05-03
   price $178,000 975-char remark
3. 2026-04-23
   listed $188,000 Active 975-char remark
4. 2013-07-22
   soldstatus $155,000
5. 2013-07-18
   soldstatus $124,000 413-char remark

   Show marketing remark (413 chars)

   MAJOR PRICE REDUCTION! Amazing Large Ranch! 3 bd/2.5 Ba. Addition added to create large, open living space with raised ceiling. Newer Stove (2yr) & D/W (2mo). New Furn w/ Humidifier, HWH, & W/ D. Roof (8yr). Majority new windows. Hdwds throughout. Inside painted neutral colors! New kitchen counters. Fabulous deck! Walkout LL. Lots of Privacy. Gazebo area. ALSO INCLUDED NEWER RIDING TRACTOR/LAWNMOWER.

6. 2013-01-19
   listed $129,000 413-char remark

   Show marketing remark (413 chars)

   MAJOR PRICE REDUCTION! Amazing Large Ranch! 3 bd/2.5 Ba. Addition added to create large, open living space with raised ceiling. Newer Stove (2yr) & D/W (2mo). New Furn w/ Humidifier, HWH, & W/ D. Roof (8yr). Majority new windows. Hdwds throughout. Inside painted neutral colors! New kitchen counters. Fabulous deck! Walkout LL. Lots of Privacy. Gazebo area. ALSO INCLUDED NEWER RIDING TRACTOR/LAWNMOWER.

7. 2004-05-10
   soldstatus $82,000
8. 2000-11-13
   soldstatus $39,000

ⓘ 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: $5,250 · $438/mo
• Projected year-2 tax: $5,250 · $438/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 AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 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: $14,884
• − Mortgage interest: −$9,971
• − Property taxes: −$5,250
• − Insurance: −$6,415
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$5,178
• Taxable loss: −$14,312
• Est. tax savings @ 24.0%: +$3,435
• After-tax cash flow: $-7,674/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: Susquehanna Valley Central School District
• NCES district ID: 3628380
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $57,681
• Composite: 45.56/100
• National rank: #2599
• State rank: #330 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

• City population: 65,170
• Population (ZIP): 3,722

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 9% Two or more races 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 11% Iranian 7% Slovak 4%
• Foreign-born: 9% · Canada
• Languages at home: 90% English-only · Spanish 8% German/W. Germanic 2%

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: ▲ 71.56%
• Current HPI: 304.6716
• Rent YoY: —
• Metro: —
• 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

+356.4% since first listed

8 events — show timeline

• 2026-05-06 Pending — GBAOR
• 2026-05-03 Price Changed $178,000 GBAOR
• 2026-04-23 Listed $188,000 GBAOR
• 2013-07-22 Sold (Public Records) $155,000 Public Records
• 2013-07-18 Sold (MLS) $124,000 GBAOR
• 2013-01-19 Listed $129,000 GBAOR
• 2004-05-10 Sold (Public Records) $82,000 Public Records
• 2000-11-13 Sold (Public Records) $39,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $5,250 · +2.7% YoY. Source: county tax records.