135 Crestmont Rd · Binghamton, NY 13905

$115,000

3 bd · 1.5 ba · 1,350 sqft · SingleFamily public records · 17 Days on market

Built 1910 2,680 sqft lot Est $173k · 33% 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 +26.4/30.0
• ARV discount +15.0/15.0
• 1% rule +9.5/10.0
• DSCR +9.0/10.0
• 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

Listing remarks

This 3-4 bedroom cutie pie is just waiting for someone to finish renovating it! The inside has had a bit of a refresh already and has been very well maintained over the years. It just needs a little more love and then it will shine as bright as new! Plenty of off street parking available. Easy to maintain fenced yard. Hardwood floors in the majority of 1st and 2nd floors. Full walk up attic offers extensive amounts of storage. The full basement is very dry and has been recently cleaned and painted. This is such a rare opportunity to get into a highly desirable area at an approachable price point! Surrounded by well maintained homes, this property offers strong potential for value growth wit

Key facts

• Off street parking
• Walk up attic
• Fenced yard

Tags

• OFF STREET PARKING
• FENCED YARD
• HARDWOOD FLOORS
• WALK UP ATTIC
• FULL BASEMENT

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water (connected); Sewer connected
• Home design: 2-story home; Resale property
• Construction: Wood siding exterior; Block foundation; Existing construction
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 40 x 67

Interior

• Kitchen: Gas oven; Gas range
• Bedrooms: One bedroom on the main level
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas heating; Hot water heating
• Interior features: Separate/formal dining room; Separate/formal living room
• Laundry & utility: Laundry located in the basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 37% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $115k implies a 360% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.45% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.14%
• DSCR: 1.50
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $172,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6 Aberystwyth Pl	0.35mi	3/1.5	1,416 (+5%)	4mo	$166,000	$117	72
19 Stokes Ave	0.42mi	3/1.0	1,369 (+1%)	5mo	$175,000	$128	72
134 Matthews St	0.20mi	3/1.0	1,239 (-8%)	5mo	$144,000	$116	71
22 Park St	0.24mi	3/1.0	1,200 (-11%)	2mo	$175,257	$146	67
88 Crestmont Rd	0.26mi	4/2.0 (+1)	1,268 (-6%)	7mo	$193,000	$152	65
118 Helen St	0.34mi	2/1.0 (-1)	1,260 (-7%)	6mo	$158,000	$125	61
8 Beverly Pl	0.40mi	3/1.5	1,163 (-14%)	1mo	$152,580	$131	57
119 Lincoln Ave	0.52mi	3/1.0	1,248 (-8%)	5mo	$120,000	$96	57
3 Cleveland Ave	0.40mi	3/2.0	1,152 (-15%)	5mo	$154,500	$134	51
53 Thorp St	0.71mi	3/1.5	1,445 (+7%)	8mo	$135,000	$93	48
9 Adams Ave	0.70mi	2/1.5 (-1)	1,240 (-8%)	6mo	$155,000	$125	44
36 Narwood St	0.65mi	4/1.5 (+1)	1,540 (+14%)	8mo	$202,250	$131	35

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: 7.0%
• Equity multiple: 1.29×
• Total profit: $9,357
• Equity at exit: $17,147

10-year hold

• IRR: 20.9%
• Equity multiple: 3.28×
• Total profit: $73,319
• Equity at exit: $9,943

Cash invested: $32,200 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,663 high
• Mortgage (P&I): −$603
• Tax from tax record: −$364 /mo · $4,365/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $299

Break-even live

Break-even rent $1,284

Max offer price $115,000

Occupancy floor 77%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
133 Crestmont Rd Unit 2 Binghamton, NY	3.0	1.0	1300	$1,900	$1.46	43d	1	0.03mi
263 Main St Binghamton, NY	2.0	1.0	920	$1,200	$1.30	13d	1	0.12mi
296 Main St Unit 6 Binghamton, NY	3.0	1.0	1200	$1,250	$1.04	13d	1	0.17mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	43d	1	0.27mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	43d	1	0.40mi
36 Haendel St Unit Second Floor Binghamton, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	0.40mi
99 Helen St Unit 2 Binghamton, NY	3.0	1.0	1220	$1,600	$1.31	43d	1	0.41mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	13d	1	0.44mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	43d	1	0.49mi
127 Burbank Ave Unit 2 Johnson City, NY	2.0	1.0	1032	$1,000	$0.97	21d	1	0.57mi
145 Floral Ave Unit 4 Johnson City, NY	3.0	1.0	1095	$1,250	$1.14	21d	1	0.68mi
248 Main St Unit 2 Johnson City, NY	2.0	1.0	1650	$1,650	$1.00	13d	1	0.93mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	43d	1	0.95mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	13d	1	0.95mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	13d	1	0.96mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	43d	1	1.00mi
207 Saint Charles St #2 Johnson City, NY	2.0	1.0	925	$1,250	$1.35	21d	1	1.01mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	21d	1	1.02mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	43d	1	1.05mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	43d	1	1.05mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	43d	1	1.05mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	43d	1	1.07mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	1.07mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	43d	1	1.12mi
400 Riverside Dr Unit 212 Johnson City, NY	3.0	1.0	1100	$2,500	$2.27	13d	1	1.18mi
400 Riverside Dr Unit 15 Johnson City, NY	3.0	1.0	1000	$2,425	$2.42	13d	1	1.18mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	43d	1	1.18mi
51 Allen St Unit 1 Johnson City, NY	3.0	1.0	1170	$1,575	$1.35	21d	1	1.18mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	43d	1	1.25mi
50 Crocker Ave Johnson City, NY	4.0	2.0	1411	$2,000	$1.42	21d	1	1.30mi

Listing history 3 events

1. 2026-04-20
   status Pending
2. 2026-04-03
   listed $115,000 Active
3. 2004-04-21
   soldstatus $25,000

ⓘ 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: $4,365 · $364/mo
• Projected year-2 tax: $4,365 · $364/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 2/10 Low
• 🌡 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: $19,955
• − Mortgage interest: −$6,442
• − Property taxes: −$4,365
• − Insurance: −$575
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$3,345
• Taxable income: $2,035
• Est. tax owed @ 24.0%: −$488
• After-tax cash flow: $3,100/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

+360.0% since first listed

3 events — show timeline

• 2026-04-20 Pending — UNYREIS
• 2026-04-03 Listed $115,000 UNYREIS
• 2004-04-21 Sold (Public Records) $25,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,365 · +0.9% YoY. Source: county tax records.