208 Clinton St · Binghamton, NY 13905

$200,000

4 bd · 2.0 ba · 2,238 sqft · MultiFamily public records · 38 Days on market

Built 1900 $89/sqft · 57% above 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
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Smart investment property, perfect for students or office. Plenty of off street parking, possibility of more bedrooms, hardwood throughout, two separate heating units, sold as is. Inspection available.

Key facts

• New siding
• Off street parking
• New roof

Tags

• NEW ROOF
• NEW SIDING
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $863 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 73% of comp listings sitting > 30 days — soft ceiling on asking rent; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $3,155/mo this rent would consume 71% of the median local household income ($53k/yr) (locally 1875% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Broome County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago 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 $28k; list at $200k implies a 614% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 11.47%
• Cash-on-cash: 18.50%
• DSCR: 1.82
• GRM: 5.3

CMA / ARV

• ARV (median comp): $127,357
• List price: $200,000
• Delta: 57.04%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Goethe St	0.32mi	4/2.0	2,240 (+0%)	3mo	$180,000	$80	82
27 Mather St	0.35mi	4/2.0	2,182 (-2%)	1mo	$185,000	$85	79
32 Haendel St	0.36mi	4/2.0	2,312 (+3%)	2mo	$170,000	$74	76
70 Thorp St	0.17mi	4/2.0	2,368 (+6%)	8mo	$35,000	$15	76
7 Bellevue Hts	0.51mi	4/2.0	2,214 (-1%)	4mo	$140,000	$63	71
117 Walnut Street St	0.40mi	4/2.0	2,422 (+8%)	2mo	$55,000	$23	66
39 Schubert St	0.45mi	4/2.0	2,072 (-7%)	8mo	$175,000	$84	60
198 Chapin St	0.47mi	5/3.0 (+1)	2,146 (-4%)	8mo	$193,000	$90	56
198 Chapin St #2	0.47mi	5/3.0 (+1)	2,145 (-4%)	8mo	$193,000	$90	56
241 Prospect St	0.54mi	4/2.0	2,028 (-9%)	10mo	$130,000	$64	51
6 Highland Ave	0.56mi	5/2.0 (+1)	2,120 (-5%)	12mo	$165,000	$78	50
69 Colfax Ave	0.44mi	3/2.0 (-1)	1,970 (-12%)	8mo	$138,000	$70	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 1.70×
• Total profit: $39,440
• Equity at exit: $29,821

10-year hold

• IRR: 28.7%
• Equity multiple: 4.25×
• Total profit: $181,833
• Equity at exit: $17,292

Cash invested: $56,000 (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 13905

• Home prices YoY: -31.1%
• Rents YoY: 11.2%
• Active inventory: 136
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $3,155 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$497 /mo · $5,965/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $863

Break-even live

Break-even rent $2,062

Max offer price $200,000

Occupancy floor 68%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,156
Total (3 units)			$3,155

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	43d	1	0.38mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	0.48mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	43d	1	0.51mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	43d	1	0.60mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	43d	1	0.61mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	13d	1	0.66mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	43d	1	0.67mi
74 Matthews St Binghamton, NY	3.0	2.0	2510	$2,300	$0.92	21d	1	0.78mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	43d	1	0.80mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	43d	1	0.89mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	43d	1	0.95mi
13 Chapin St Binghamton, NY	4.0	3.0	2452	$4,000	$1.63	43d	1	1.12mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	43d	1	1.13mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	43d	1	1.25mi
57 Fowler Ave Johnson City, NY	3.0	2.5	2497	$2,000	$0.80	13d	1	1.39mi

Listing history 20 events

1. 2026-06-19
   days on market $200,000 Active 38 DOM
2. 2026-06-18
   days on market $200,000 Active 37 DOM
3. 2026-06-17
   days on market $200,000 Active 36 DOM
4. 2026-06-16
   days on market $200,000 Active 35 DOM
5. 2026-06-15
   days on market $200,000 Active 34 DOM
6. 2026-06-14
   days on market $200,000 Active 32 DOM
7. 2026-06-13
   days on market $200,000 Active 31 DOM
8. 2026-06-10
   days on market $200,000 Active 29 DOM
9. 2026-06-09
   days on market $200,000 Active 28 DOM
10. 2026-06-08
    days on market $200,000 Active 27 DOM
11. 2026-06-07
    days on market $200,000 Active 26 DOM
12. 2026-06-03
    days on market $200,000 Active 22 DOM
13. 2026-06-02
    days on market $200,000 Active 21 DOM
14. 2026-06-01
    days on market $200,000 Active 20 DOM
15. 2026-05-31
    days on market $200,000 Active 19 DOM
16. 2026-05-30
    days on market $200,000 Active 18 DOM
17. 2026-05-12
    listed $200,000 Active 192-char remark
18. 2016-10-14
    listed $79,900
19. 2014-02-06
    soldstatus $28,000

    Show marketing remark (201 chars)

    Smart investment property, perfect for students or office. Plenty of off street parking, possibility of more bedrooms, hardwood throughout, two separate heating units, sold as is. Inspection available.

20. 2013-05-13
    listed $35,500

    Show marketing remark (201 chars)

    Smart investment property, perfect for students or office. Plenty of off street parking, possibility of more bedrooms, hardwood throughout, two separate heating units, sold as is. Inspection available.

ⓘ 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: $5,965 · $497/mo
• Projected year-2 tax: $5,965 · $497/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 6/10 Major FEMA zone X (shaded) · 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: $37,860
• − Mortgage interest: −$11,203
• − Property taxes: −$5,965
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,029
• − Management: −$3,029
• − Depreciation: −$5,818
• Taxable income: $7,816
• Est. tax owed @ 24.0%: −$1,876
• After-tax cash flow: $8,482/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): 27,988
• Household income: $53,362
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1875.0

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 (68%)
• Race & ethnicity: White 68% Asian 10% Black 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 1%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 87% English-only · Other Indo-European 5% Spanish 2% Other Asian/Pacific 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: ▼ -134.70%
• Current HPI: 298.9847
• Rent YoY: ▲ 11.19%
• 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

+463.4% since first listed

4 events — show timeline

• 2026-05-12 Listed $200,000 FSBO.com
• 2016-10-14 Listed $79,900 GBAOR
• 2014-02-06 Sold (MLS) $28,000 GBAOR
• 2013-05-13 Listed $35,500 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $5,965 · +0.9% YoY. Source: county tax records.