22 Riverview Ave Ave · Binghamton, NY 13904

$180,000

4 bd · 1.5 ba · 1,642 sqft · SingleFamily public records · 128 Days on market

Built 1941 5,227 sqft lot $110/sqft · 24% above area Est $197k · 9% under

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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 +23.6/30.0
• ARV discount +11.3/15.0
• Appreciation +10.0/10.0
• 1% rule +8.9/10.0
• DSCR +7.6/10.0
• 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

This 4-bedroom, 1-bath home at 22 Riverview Ave in Binghamton offers a functional layout in a convenient location. The property includes four bedrooms, a 1-car garage, and a covered rear patio. Easy access to nearby amenities and transportation.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1941

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: 41 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• 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

• It's been on market 128 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $96k; list at $180k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 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 1941 — 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. 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: 1.39% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.05%
• DSCR: 1.36
• GRM: 6.0

CMA / ARV

• ARV (median comp): $196,725
• List price: $180,000
• Delta: -8.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 East St	0.26mi	3/2.0 (-1)	1,596 (-3%)	5mo	$167,000	$105	72
20 Bigelow St	0.35mi	3/2.0 (-1)	1,624 (-1%)	4mo	$170,000	$105	72
18 Riverside St	0.29mi	3/1.5 (-1)	1,572 (-4%)	4mo	$170,000	$108	71
19 Monroe St	0.43mi	3/1.0 (-1)	1,656 (+1%)	1mo	$185,000	$112	71
220 Robinson St	0.55mi	4/1.5	1,706 (+4%)	6mo	$90,000	$53	63
20 Willard St	0.23mi	3/2.0 (-1)	1,449 (-12%)	1mo	$179,000	$124	62
40 Howard Ave	0.56mi	4/1.5	1,725 (+5%)	5mo	$163,000	$94	62
4 Gray St	0.52mi	4/1.5	1,758 (+7%)	4mo	$160,000	$91	61
66 Moeller St	0.69mi	4/2.0	1,596 (-3%)	3mo	$152,500	$96	59
17 Bigelow St	0.38mi	3/2.0 (-1)	1,850 (+13%)	2mo	$169,900	$92	53
10 Burton Ave	0.53mi	3/1.5 (-1)	1,424 (-13%)	5mo	$130,000	$91	44
55 Mason Ave	0.53mi	3/2.0 (-1)	1,408 (-14%)	2mo	$152,000	$108	43

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: 30.2%
• Equity multiple: 3.38×
• Total profit: $119,838
• Equity at exit: $162,158

10-year hold

• IRR: 26.2%
• Equity multiple: 7.68×
• Total profit: $336,530
• Equity at exit: $349,700

Cash invested: $50,400 (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 13904

• Home prices YoY: 17.1%
• Active inventory: 41
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$618 /mo · $7,417/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $338

Break-even live

Break-even rent $2,072

Max offer price $180,000

Occupancy floor 81%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Felters Rd Binghamton, NY	4.0	2.5	2000	$2,500	$1.25	43d	1	0.92mi

Listing history 25 events

1. 2026-06-19
   days on market $180,000 Active 128 DOM
2. 2026-06-18
   days on market $180,000 Active 127 DOM
3. 2026-06-17
   days on market $180,000 Active 126 DOM
4. 2026-06-16
   days on market $180,000 Active 125 DOM
5. 2026-06-15
   pricedays on market $180,000 Active 124 DOM
6. 2026-06-14
   days on market $185,000 Active 122 DOM
7. 2026-06-13
   days on market $185,000 Active 121 DOM
8. 2026-06-10
   days on market $185,000 Active 119 DOM
9. 2026-06-09
   days on market $185,000 Active 118 DOM
10. 2026-06-08
    days on market $185,000 Active 117 DOM
11. 2026-06-07
    days on market $185,000 Active 116 DOM
12. 2026-06-03
    pricedays on market $185,000 Active 112 DOM
13. 2026-06-02
    days on market $190,000 Active 111 DOM
14. 2026-06-01
    days on market $190,000 Active 110 DOM
15. 2026-05-31
    days on market $190,000 Active 109 DOM
16. 2026-05-30
    days on market $190,000 Active 108 DOM
17. 2026-02-11
    listed $190,000 Active 245-char remark

    Show marketing remark (245 chars)

    This 4-bedroom, 1-bath home at 22 Riverview Ave in Binghamton offers a functional layout in a convenient location. The property includes four bedrooms, a 1-car garage, and a covered rear patio. Easy access to nearby amenities and transportation.

18. 2017-08-04
    soldstatus $95,500
19. 2017-08-04
    soldstatus $95,500
20. 2017-05-03
    listed $98,500
21. 2016-05-27
    soldstatus $89,000
22. 2016-05-25
    soldstatus $94,500
23. 2015-10-22
    listed $95,900
24. 2015-01-09
    listed $97,900
25. 2014-06-12
    listed $109,900

ⓘ 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: $7,417 · $618/mo
• Projected year-2 tax: $7,417 · $618/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 1/10 Low FEMA zone X · 0% 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 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: $30,000
• − Mortgage interest: −$10,083
• − Property taxes: −$7,417
• − Insurance: −$900
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$5,236
• Taxable income: $1,564
• Est. tax owed @ 24.0%: −$375
• After-tax cash flow: $3,680/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
• City population: 65,170
• Population (ZIP): 9,138

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 (73%)
• Race & ethnicity: White 73% Black 12% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · French/Haitian/Cajun 5% Spanish 4% Chinese 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: ▲ 40.85%
• Current HPI: 280.3184
• 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

+72.9% since first listed

9 events — show timeline

• 2026-02-11 Listed $190,000 GBAOR
• 2017-08-04 Sold (Public Records) $95,500 Public Records
• 2017-08-04 Sold (MLS) $95,500 GBAOR
• 2017-05-03 Listed $98,500 GBAOR
• 2016-05-27 Sold (Public Records) $89,000 Public Records
• 2016-05-25 Sold (MLS) $94,500 GBAOR
• 2015-10-22 Listed $95,900 GBAOR
• 2015-01-09 Listed $97,900 GBAOR
• 2014-06-12 Listed $109,900 GBAOR

Property tax history

+11.6%/yr

Latest (2025): $7,417 · +0.9% YoY. Source: county tax records.