16 Tompkins St · Binghamton, NY 13903

$109,900

4 bd · 1.5 ba · 2,340 sqft · SingleFamily public records · 82 Days on market

Built 1940 5,662 sqft lot $47/sqft · 63% below area Est $105k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +5.4/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fantastic investment opportunity with incredible potential to bring this property back to life! The main home features three spacious bedrooms and one and a half bathrooms, offering a solid layout ready for your vision and updates. In addition, the detached garage includes a one-bedroom apartment perfect for additional income or extended living space with plenty of opportunity for renovation and value add. Conveniently located near parks, schools, and public transportation, this property offers both accessibility and long term upside. Being sold as-is; cash offers only. Don’t miss your chance to transform this property into something truly special!

Key facts

• 5,662 sq ft lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $831 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.0% 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $12k of equity ($760 loan paydown + $11k 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 $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $110k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
9. 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.
10. 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: 1.90% ✓
• Cap rate: 15.97%
• Cash-on-cash: 34.56%
• DSCR: 2.54
• GRM: 4.4

CMA / ARV

• ARV (median comp): $104,966
• List price: $109,900
• Delta: 4.70%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51 2nd St	0.41mi	3/2.5 (-1)	2,333 (-0%)	1mo	$240,000	$103	70
57 Broome St	0.23mi	4/2.0	2,544 (+9%)	8mo	$180,000	$71	66
63 Jackson St	0.24mi	3/1.0 (-1)	2,058 (-12%)	8mo	$105,000	$51	56
34 Baldwin St	0.13mi	4/2.0	2,010 (-14%)	21mo	$185,000	$92	50
62 Hayes St	0.33mi	3/1.5 (-1)	2,156 (-8%)	20mo	$193,000	$90	50
321 Conklin Ave	0.50mi	3/2.0 (-1)	2,477 (+6%)	17mo	$245,000	$99	46
109 Home Ave	0.47mi	3/3.5 (-1)	2,532 (+8%)	8mo	$250,000	$99	45
16 Barney Ct	0.67mi	4/2.0	2,626 (+12%)	13mo	$275,000	$105	35
111 Gates St	0.58mi	3/3.5 (-1)	2,630 (+12%)	11mo	$300,000	$114	30
7 Bedford St	0.53mi	3/2.0 (-1)	2,691 (+15%)	20mo	$145,000	$54	27
11 Way St	0.72mi	3/1.5 (-1)	2,016 (-14%)	17mo	$132,978	$66	25

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: 49.0%
• Equity multiple: 4.67×
• Total profit: $112,834
• Equity at exit: $99,007

10-year hold

• IRR: 42.8%
• Equity multiple: 10.45×
• Total profit: $290,797
• Equity at exit: $213,512

Cash invested: $30,772 (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: 4.4×

Monthly cashflow live

• Estimated rent: $2,083 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $831

Break-even live

Break-even rent $1,032

Max offer price $109,900

Occupancy floor 55%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
51 2nd St Binghamton, NY	3.0	2.5	2333	$2,200	$0.94	13d	1	0.41mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	43d	1	0.63mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	0.74mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	43d	1	1.22mi
100 Felters Rd Binghamton, NY	4.0	2.5	2000	$2,500	$1.25	43d	1	1.28mi

Listing history 25 events

1. 2026-06-19
   days on market $109,900 Active 82 DOM
2. 2026-06-18
   days on market $109,900 Active 81 DOM
3. 2026-06-17
   days on market $109,900 Active 80 DOM
4. 2026-06-16
   days on market $109,900 Active 79 DOM
5. 2026-06-15
   days on market $109,900 Active 78 DOM
6. 2026-06-14
   days on market $109,900 Active 76 DOM
7. 2026-06-13
   days on market $109,900 Active 75 DOM
8. 2026-06-10
   days on market $109,900 Active 73 DOM
9. 2026-06-09
   days on market $109,900 Active 72 DOM
10. 2026-06-08
    days on market $109,900 Active 71 DOM
11. 2026-06-07
    days on market $109,900 Active 70 DOM
12. 2026-06-03
    days on market $109,900 Active 66 DOM
13. 2026-06-02
    days on market $109,900 Active 65 DOM
14. 2026-06-01
    days on market $109,900 Active 64 DOM
15. 2026-05-31
    days on market $109,900 Active 63 DOM
16. 2026-05-30
    days on market $109,900 Active 62 DOM
17. 2026-04-27
    price $114,900 662-char remark

    Show marketing remark (695 chars)

    Fantastic investment opportunity with incredible potential to bring this property back to life! The main home features three spacious bedrooms and one and a half bathrooms, offering a solid layout ready for your vision and updates. In addition, the detached garage includes a one-bedroom apartment perfect for additional income or extended living space with plenty of opportunity for renovation and value add. Conveniently located near parks, schools, and public transportation, this property offers both accessibility and long term upside. Being sold as-is; cash offers only. Don’t miss your chance to transform this property into something truly special! Apartment 2 is above the garage.

18. 2026-04-27
    price $114,900 695-char remark

    Show marketing remark (695 chars)

    Fantastic investment opportunity with incredible potential to bring this property back to life! The main home features three spacious bedrooms and one and a half bathrooms, offering a solid layout ready for your vision and updates. In addition, the detached garage includes a one-bedroom apartment perfect for additional income or extended living space with plenty of opportunity for renovation and value add. Conveniently located near parks, schools, and public transportation, this property offers both accessibility and long term upside. Being sold as-is; cash offers only. Don’t miss your chance to transform this property into something truly special! Apartment 2 is above the garage.

19. 2026-03-29
    listed $119,900 Active 662-char remark

    Show marketing remark (662 chars)

    Fantastic investment opportunity with incredible potential to bring this property back to life! The main home features three spacious bedrooms and one and a half bathrooms, offering a solid layout ready for your vision and updates. In addition, the detached garage includes a one-bedroom apartment perfect for additional income or extended living space with plenty of opportunity for renovation and value add. Conveniently located near parks, schools, and public transportation, this property offers both accessibility and long term upside. Being sold as-is; cash offers only. Don’t miss your chance to transform this property into something truly special!

20. 2026-03-24
    listed $119,000 Active 695-char remark

    Show marketing remark (695 chars)

    Fantastic investment opportunity with incredible potential to bring this property back to life! The main home features three spacious bedrooms and one and a half bathrooms, offering a solid layout ready for your vision and updates. In addition, the detached garage includes a one-bedroom apartment perfect for additional income or extended living space with plenty of opportunity for renovation and value add. Conveniently located near parks, schools, and public transportation, this property offers both accessibility and long term upside. Being sold as-is; cash offers only. Don’t miss your chance to transform this property into something truly special! Apartment 2 is above the garage.

21. 2026-02-06
    soldstatus $58,000
22. 2023-09-12
    price $114,900
23. 2023-08-26
    listed $119,900 Active
24. 2002-07-02
    soldstatus $28,500
25. 1999-09-27
    soldstatus $52,500

ⓘ 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 8/10 Severe FEMA zone X (shaded) · 77% 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: $25,000
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$1,216
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − Depreciation: −$3,197
• Taxable income: $8,782
• Est. tax owed @ 24.0%: −$2,108
• After-tax cash flow: $7,862/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

+118.9% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $114,900 GBAOR
• 2026-04-27 Price Changed $114,900 GBAOR
• 2026-03-29 Listed $119,900 GBAOR
• 2026-03-24 Listed $119,000 GBAOR
• 2026-02-06 Sold (Public Records) $58,000 Public Records
• 2023-09-12 Price Changed $114,900 CNYIS
• 2023-08-26 Listed $119,900 CNYIS
• 2002-07-02 Sold (Public Records) $28,500 Public Records
• 1999-09-27 Sold (Public Records) $52,500 Public Records

Property tax history

+6.4%/yr

Latest (2025): $6,194 · +0.9% YoY. Source: county tax records.