40 Mary St · Binghamton, NY 13903

$60,000

3 bd · 1.0 ba · 1,330 sqft · SingleFamily public records · 37 Days on market

Built 1900 1,536 sqft lot $45/sqft · 62% below 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Showing by appointment only with 24 hour notice. Highly walkable location close to groceries, public transport & Downtown Binghamton. This property has no off-street parking. Garage has been converted to additional storage space.

Key facts

• Close to groceries
• Public transport
• Walkable location

Tags

• WALKABLE LOCATION
• CLOSE TO GROCERIES
• PUBLIC TRANSPORT
• ADDITIONAL STORAGE SPACE

Property features AI

Finance

• Other: Zoned residential

Exterior

• Parking: No dedicated parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels (2 stories); Entry on main level
• Construction: Vinyl siding
• Exterior features: Covered porch; Level lot

Interior

• Kitchen: Range; Free-standing range; Refrigerator; Gas water heater
• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; No cooling
• Interior features: Range; Free-standing range; Gas water heater; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $830 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

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.
• 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.
• Zoned schools: Macarthur School (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 398 students, 62% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 112 active listings in the ZIP; 24 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).

Forward outlook

• In year one you build about $6k of equity ($415 loan paydown + $6k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $30k; list at $60k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.63% ✓
• Cap rate: 22.89%
• Cash-on-cash: 59.26%
• DSCR: 3.64
• GRM: 3.2

CMA / ARV

• ARV (median comp): $157,083
• List price: $60,000
• Delta: -61.80%
• 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
6 Curran Ave	0.15mi	3/1.0	1,323 (-0%)	3mo	$167,000	$126	90
13 Edna Ave	0.35mi	3/1.0	1,314 (-1%)	8mo	$145,000	$110	75
10 Columbia Ave	0.26mi	3/1.5	1,216 (-9%)	1mo	$170,000	$140	71
103 S Washington St	0.26mi	3/2.0	1,384 (+4%)	8mo	$167,500	$121	70
17 Sherwood Ave	0.57mi	3/1.5	1,356 (+2%)	2mo	$176,768	$130	67
13 Sherwood Ave	0.57mi	4/1.5 (+1)	1,332 (+0%)	1mo	$200,000	$150	65
79 Rush Ave	0.46mi	3/1.0	1,209 (-9%)	1mo	$170,000	$141	62
14 Hallam St	0.29mi	3/1.5	1,452 (+9%)	9mo	$175,000	$121	62
135 Susquehanna Street St	0.67mi	2/2.0 (-1)	1,370 (+3%)	1mo	$55,000	$40	54
14 Mcnamara Ave	0.39mi	4/1.5 (+1)	1,463 (+10%)	8mo	$170,000	$116	52
17 Phinn Ave	0.44mi	3/1.5	1,485 (+12%)	8mo	$200,000	$135	51
13 Clarence St	0.40mi	3/2.0	1,516 (+14%)	8mo	$195,000	$129	47

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: 71.6%
• Equity multiple: 6.09×
• Total profit: $85,545
• Equity at exit: $54,053

10-year hold

• IRR: 65.4%
• Equity multiple: 13.52×
• Total profit: $210,408
• Equity at exit: $116,567

Cash invested: $16,800 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $830

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 42%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	13d	1	0.12mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	43d	1	0.26mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	13d	1	0.35mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	43d	1	0.60mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	43d	1	0.66mi
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	43d	1	0.72mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	43d	1	0.73mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	13d	1	0.82mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	43d	1	0.90mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	21d	1	0.92mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	43d	1	0.94mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	43d	1	0.95mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	43d	1	0.96mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	43d	1	1.03mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	43d	1	1.03mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	43d	1	1.03mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	43d	1	1.06mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	13d	1	1.09mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	13d	1	1.11mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	1.11mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	21d	1	1.11mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	43d	1	1.11mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	43d	1	1.20mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	43d	1	1.26mi

Listing history 19 events

1. 2026-06-19
   days on market $60,000 Active 37 DOM
2. 2026-06-18
   days on market $60,000 Active 36 DOM
3. 2026-06-17
   days on market $60,000 Active 35 DOM
4. 2026-06-16
   days on market $60,000 Active 34 DOM
5. 2026-06-15
   days on market $60,000 Active 33 DOM
6. 2026-06-14
   days on market $60,000 Active 31 DOM
7. 2026-06-13
   days on market $60,000 Active 30 DOM
8. 2026-06-10
   days on market $60,000 Active 28 DOM
9. 2026-06-09
   days on market $60,000 Active 27 DOM
10. 2026-06-08
    days on market $60,000 Active 26 DOM
11. 2026-06-07
    days on market $60,000 Active 25 DOM
12. 2026-06-03
    days on market $60,000 Active 21 DOM
13. 2026-06-02
    days on market $60,000 Active 20 DOM
14. 2026-06-01
    days on market $60,000 Active 19 DOM
15. 2026-05-31
    days on market $60,000 Active 18 DOM
16. 2026-05-30
    days on market $60,000 Active 17 DOM
17. 2026-05-13
    listed $60,000 Active 235-char remark
18. 2026-02-10
    listed $70,000 Active
19. 2010-11-29
    soldstatus $30,000

ⓘ 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 5/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 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: $18,901
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$1,745
• Taxable income: $9,571
• Est. tax owed @ 24.0%: −$2,297
• After-tax cash flow: $7,659/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

+100.0% since first listed

3 events — show timeline

• 2026-05-13 Listed $60,000 GBAOR
• 2026-02-10 Listed $70,000 GBAOR
• 2010-11-29 Sold (Public Records) $30,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,971 · +0.9% YoY. Source: county tax records.