7 Carlton St · Binghamton, NY 13903

$92,500

3 bd · 1.0 ba · 1,600 sqft · SingleFamily public records · 129 Days on market

Built 1900 7,405 sqft lot $58/sqft · 54% below area Est $143k · 35% under ↓ 26% since listing

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Why this score? — see what drove the A 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
• Appreciation +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

Listing remarks MLS

Solid home looking for its next owner. TLC needed and sold "AS IS " 3 bedrooms, bath and a half. First floor includes living room, dining room, kitchen and bonus room. Large covered porch off of the large kitchen. Two car garage includes a second level for the hobby enthusiast, workshop , playroom or whatever suits your needs. Has central air! Kitchen includes laundry hookups.

Key facts

• Large covered porch
• Two car garage
• 7,405 sq ft lot

Tags

• LARGE COVERED PORCH
• TWO CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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: 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; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• This rent runs 31% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($640 loan paydown + $9k 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 $26k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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 1900 — 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 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: 1.84% ✓
• Cap rate: 15.41%
• Cash-on-cash: 32.56%
• DSCR: 2.45
• GRM: 4.5

CMA / ARV

• ARV (median comp): $143,404
• List price: $92,500
• Delta: -35.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Kress St	0.18mi	3/1.0	1,620 (+1%)	2mo	$105,000	$65	88
18 Esther Ave	0.20mi	4/2.0 (+1)	1,536 (-4%)	5mo	$130,000	$85	70
14 Mcnamara Ave	0.16mi	4/1.5 (+1)	1,463 (-9%)	8mo	$170,000	$116	65
50 Tremont Ave	0.37mi	4/1.5 (+1)	1,725 (+8%)	4mo	$175,000	$101	59
96 Evans St	0.64mi	4/2.0 (+1)	1,551 (-3%)	3mo	$120,000	$77	54
25 Duane Ave	0.46mi	4/1.5 (+1)	1,740 (+9%)	8mo	$170,000	$98	50
61 Baldwin St	0.72mi	3/2.0	1,695 (+6%)	3mo	$185,000	$109	50
14 Jackson Ave	0.53mi	4/1.0 (+1)	1,750 (+9%)	6mo	$133,000	$76	50
135 Susquehanna Street St	0.39mi	2/2.0 (-1)	1,370 (-14%)	1mo	$55,000	$40	48
14 Broome St	0.72mi	3/2.0	1,749 (+9%)	1mo	$120,000	$69	46
85 Mill St	0.38mi	4/2.0 (+1)	1,825 (+14%)	5mo	$228,247	$125	46
66 Evans St	0.50mi	2/1.0 (-1)	1,800 (+12%)	7mo	$115,000	$64	45

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: 49.1%
• Equity multiple: 4.67×
• Total profit: $95,167
• Equity at exit: $83,331

10-year hold

• IRR: 42.9%
• Equity multiple: 10.46×
• Total profit: $245,101
• Equity at exit: $179,707

Cash invested: $25,900 (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: 4.5×

Monthly cashflow live

• Estimated rent: $1,699 high
• Mortgage (P&I): −$485
• Tax est. 1.5%: −$116 /mo · $1,388/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $703

Break-even live

Break-even rent $809

Max offer price $92,500

Occupancy floor 54%

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: $23,125
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	13d	1	0.16mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	43d	1	0.21mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	43d	1	0.46mi
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	13d	1	0.49mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	13d	1	0.53mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	43d	1	0.55mi
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	43d	1	0.90mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	43d	1	1.15mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	43d	1	1.15mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	43d	1	1.15mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	1.18mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	21d	1	1.18mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	43d	1	1.19mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	43d	1	1.21mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	43d	1	1.30mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	43d	1	1.31mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	43d	1	1.37mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	13d	1	1.46mi

Listing history 21 events

1. 2026-06-19
   days on market $92,500 Active 129 DOM
2. 2026-06-18
   days on market $92,500 Active 128 DOM
3. 2026-06-17
   days on market $92,500 Active 127 DOM
4. 2026-06-16
   days on market $92,500 Active 126 DOM
5. 2026-06-15
   days on market $92,500 Active 125 DOM
6. 2026-06-14
   days on market $92,500 Active 123 DOM
7. 2026-06-13
   days on market $92,500 Active 122 DOM
8. 2026-06-10
   days on market $92,500 Active 120 DOM
9. 2026-06-09
   days on market $92,500 Active 119 DOM
10. 2026-06-08
    days on market $92,500 Active 118 DOM
11. 2026-06-07
    days on market $92,500 Active 117 DOM
12. 2026-06-03
    days on market $92,500 Active 113 DOM
13. 2026-06-02
    days on market $92,500 Active 112 DOM
14. 2026-06-01
    days on market $92,500 Active 111 DOM
15. 2026-05-31
    days on market $92,500 Active 110 DOM
16. 2026-05-30
    days on market $92,500 Active 109 DOM
17. 2026-02-10
    listed $92,500 Active 390-char remark

    Show marketing remark (390 chars)

    Solid home looking for its next owner. TLC needed and sold "AS IS " 3 bedrooms, bath and a half. First floor includes living room, dining room, kitchen and bonus room. Large covered porch off of the large kitchen. Two car garage includes a second level for the hobby enthusiast, workshop , playroom or whatever suits your needs. Has central air! Kitchen includes laundry hookups.

18. 2025-10-21
    status Active
19. 2025-07-29
    status Pending
20. 2025-06-17
    price $119,500
21. 2025-04-01
    listed $125,000 Active

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $20,386
• − Mortgage interest: −$5,181
• − Property taxes: −$1,388
• − Insurance: −$462
• − Repairs & maintenance: −$1,631
• − Management: −$1,631
• − Depreciation: −$2,691
• Taxable income: $7,402
• Est. tax owed @ 24.0%: −$1,776
• After-tax cash flow: $6,658/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

-26.0% since first listed

5 events — show timeline

• 2026-02-10 Listed $92,500 GBAOR
• 2025-10-21 Relisted — GBAOR
• 2025-07-29 Pending — GBAOR
• 2025-06-17 Price Changed $119,500 GBAOR
• 2025-04-01 Listed $125,000 GBAOR

Property tax history

+19.7%/yr

Latest (2025): $5,468 · +59.3% YoY. Source: county tax records.