30 Franklin St · Binghamton, NY 13905

$185,000

6 bd · 2.0 ba · 1,760 sqft · MultiFamily public records · 6 Days on market

Built 1900 6,534 sqft lot Est $136k · 37% over

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Why this score? — see what drove the C 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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +8.3/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great duplex centrally located near all conveniences. Perfect money maker for investors. Double Garage out back for parking and more storage, Good sized units. Roof approx 10 years old, newer furnace and HWH for first floor unit. Please allow 24 hour notice to show. Third meter in basement for garage. Tenants pay utilities , Call your realtor today and come see this great investment opportunity. 24 hour notice required to show

Key facts

• New sewer line
• Detached garage
• 6,534 sq ft lot

Tags

• COLONIAL STYLE DUPLEX
• DETACHED GARAGE
• NEW SEWER LINE

Property features AI

Finance

• Other: Property classified for multi-family use
• Financial info: Income detail: two 2-bedroom units producing $750 and $1,100 respectively; additional unit income recorded as $125

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; Level lot; Zoned residential
• Construction: Asphalt construction material
• Exterior features: Covered patio/porch

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Hardwood; Tile; Vinyl
• Bathrooms: Two full bathrooms (one in each 2-bed unit)
• Heating & cooling: Forced air heating; No cooling
• Interior features: Gas water heater; Basement present
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive. Per door: $191/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 9.1% 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: 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: Woodrow Wilson School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 352 students, 76% FRL) — zoned schools average 76% FRL vs 61% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 37% district-wide (-20 pts) — the specific schools serving this property underperform the Binghamton City School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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

• 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 $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $98k; list at $185k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $56/mo; 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 $185,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.33% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.13%
• DSCR: 1.45
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $135,520
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
240 Oak St	0.17mi	6/2.0	1,828 (+4%)	5mo	$80,000	$44	81
15 Elm St	0.29mi	6/3.0	1,846 (+5%)	2mo	$99,000	$54	72
127 Walnut St	0.65mi	6/2.0	1,820 (+3%)	5mo	$245,000	$135	60
16 Elm St	0.29mi	5/2.0 (-1)	1,500 (-15%)	8mo	$115,000	$77	50

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: 3.5%
• Equity multiple: 1.15×
• Total profit: $7,515
• Equity at exit: $27,584

10-year hold

• IRR: 17.9%
• Equity multiple: 2.89×
• Total profit: $97,708
• Equity at exit: $15,995

Cash invested: $51,800 (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 13905

• Home prices YoY: -31.1%
• Rents YoY: 11.2%
• Active inventory: 136
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,453 high
• Mortgage (P&I): −$970
• Tax from tax record: −$453 /mo · $5,438/yr
• Insurance: −$77
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $382

Break-even live

Break-even rent $1,970

Max offer price $185,000

Occupancy floor 79%

Sensitivity live

Price	-10% $487	-5% $434	+0% $382	+5% $330	+10% $277
Rent	-10% $188	-5% $285	+0% $382	+5% $479	+10% $576
Rate	-1.0pp $475	-0.5pp $429	base $382	+0.5pp $334	+1.0pp $285

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,454
Total (2 units)			$2,453

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	45d	1	0.73mi
2 Chapel Pl Binghamton, NY	6.0	3.0	2600	$650	$0.25	45d	1	0.99mi
44 Leroy St Binghamton, NY	6.0	2.0	1772	$3,000	$1.69	22d	1	1.15mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	45d	1	1.19mi
607 Chenango St Binghamton, NY	5.0	2.5	2500	$2,800	$1.12	14d	1	1.24mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	14d	1	1.32mi
16 Highland Ave Unit 2 Binghamton, NY	6.0	1.0	2000	$2,750	$1.38	45d	1	1.38mi

Listing history 6 events

1. 2026-06-21
   days on market $185,000 Active 6 DOM
2. 2026-06-19
   days on market $185,000 Active 4 DOM
3. 2026-06-18
   days on market $185,000 Active 3 DOM
4. 2026-06-17
   days on market $185,000 Active 2 DOM
5. 2026-06-15
   remarks 687-char remark
6. 2026-06-15
   listed $185,000 Active 1 DOM

ⓘ 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: $5,438 · $453/mo
• Projected year-2 tax: $5,438 · $453/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 7/10 Severe FEMA zone X (shaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°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: $29,436
• − Mortgage interest: −$10,363
• − Property taxes: −$5,438
• − Insurance: −$1,592
• − Repairs & maintenance: −$2,355
• − Management: −$2,355
• − Depreciation: −$5,382
• Taxable income: $1,952
• Est. tax owed @ 24.0%: −$468
• After-tax cash flow: $4,114/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

+516.7% since first listed

15 events — show timeline

• 2026-06-15 Listed $185,000 GBAOR
• 2024-09-25 Sold (Public Records) $97,900 Public Records
• 2024-05-23 Sold (MLS) $97,900 GBAOR
• 2024-03-03 Pending — GBAOR
• 2024-02-05 Price Changed $97,900 GBAOR
• 2024-01-25 Price Changed $98,900 GBAOR
• 2024-01-21 Listed $99,900 GBAOR
• 2023-10-19 Price Changed $99,000 GBAOR
• 2023-08-28 Price Changed $121,000 GBAOR
• 2023-08-22 Relisted — GBAOR
• 2023-08-22 Price Changed $128,000 GBAOR
• 2023-08-18 Delisted — GBAOR
• 2023-08-14 Price Changed $129,000 GBAOR
• 2023-08-02 Listed $130,000 GBAOR
• 2008-12-22 Sold (Public Records) $30,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $5,438 · +0.9% YoY. Source: county tax records.