90 Gaylord St · Binghamton, NY 13904

$135,000

4 bd · 2.0 ba · 1,630 sqft · MultiFamily public records · 51 Days on market

Built 1920 6,098 sqft lot $83/sqft · 49% below area Est $267k · 49% under

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

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

Great income property! This beautiful two family offers tons of updates including a new furnace in December of 2014, new electric panel & meter in July of 2015, new water heater and chimney liner both put in April of 2020. Conveniently located close to shopping, food, schools and bus line. Call your agent today to set up an appointment to see this house!!

Key facts

• 6,098 sq ft lot
• Built 1920
• Listed 50 days

Property features AI

Finance

• Other: Zoned 2-family residential
• Financial info: Two rental units with listed rents of $900 for one unit (actual/total rent shown)

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential income property; Duplex
• Construction: Vinyl siding
• Exterior features: Enclosed porch; Porch; Level lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two 2-bedroom units
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; Has cooling (ceiling fan(s))
• Interior features: Gas water heater; Ceiling fan(s)
• Laundry & utility: Washer hookup; Basement present

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $916 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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: 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: Calvin Coolidge School (math 27% / reading 37%, grade F, #1,646 of 2,108 statewide, top 80%, 312 students, 72% FRL).
• Market conditions: 41 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $14k of equity ($933 loan paydown + $14k 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 $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $135k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1920 — 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 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: 1.71% ✓
• Cap rate: 14.43%
• Cash-on-cash: 29.07%
• DSCR: 2.29
• GRM: 4.9

CMA / ARV

• ARV (median comp): $267,318
• List price: $135,000
• Delta: -49.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Montgomery St	0.69mi	4/2.0	1,640 (+1%)	7mo	$150,000	$91	61
12 Oliver St	0.58mi	4/2.0	1,776 (+9%)	3mo	$70,000	$39	55
90 Broad Ave	0.34mi	4/2.0	1,872 (+15%)	5mo	$230,000	$123	55
92 Broad Ave	0.35mi	4/2.0	1,848 (+13%)	18mo	$190,000	$103	46
29 Griswold St	0.61mi	5/2.0 (+1)	1,824 (+12%)	3mo	$60,000	$33	44

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: 46.3%
• Equity multiple: 4.49×
• Total profit: $131,874
• Equity at exit: $121,619

10-year hold

• IRR: 40.2%
• Equity multiple: 10.06×
• Total profit: $342,524
• Equity at exit: $262,275

Cash invested: $37,800 (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 13904

• Home prices YoY: 17.1%
• Active inventory: 41
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,314 high
• Mortgage (P&I): −$708
• Tax from tax record: −$148 /mo · $1,777/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $916

Break-even live

Break-even rent $1,155

Max offer price $135,000

Occupancy floor 55%

Sensitivity live

Price	-10% $992	-5% $954	+0% $916	+5% $878	+10% $839
Rent	-10% $733	-5% $824	+0% $916	+5% $1,007	+10% $1,099
Rate	-1.0pp $984	-0.5pp $950	base $916	+0.5pp $881	+1.0pp $845

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,314
Total (2 units)			$2,314

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	13d	1	1.12mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	21d	1	1.14mi
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	44d	1	1.14mi
100 Felters Rd Binghamton, NY	4.0	2.5	2000	$2,500	$1.25	44d	1	1.29mi
40 Fuller St Unit 40A Binghamton, NY	3.0	2.0	1600	$2,700	$1.69	21d	1	1.34mi

Listing history 25 events

1. 2026-06-19
   days on market $135,000 Active 51 DOM
2. 2026-06-18
   days on market $135,000 Active 50 DOM
3. 2026-06-17
   days on market $135,000 Active 49 DOM
4. 2026-06-16
   days on market $135,000 Active 48 DOM
5. 2026-06-15
   days on market $135,000 Active 47 DOM
6. 2026-06-14
   days on market $135,000 Active 45 DOM
7. 2026-06-13
   days on market $135,000 Active 44 DOM
8. 2026-06-10
   days on market $135,000 Active 42 DOM
9. 2026-06-09
   days on market $135,000 Active 41 DOM
10. 2026-06-08
    days on market $135,000 Active 40 DOM
11. 2026-06-07
    days on market $135,000 Active 39 DOM
12. 2026-06-03
    days on market $135,000 Active 35 DOM
13. 2026-06-02
    days on market $135,000 Active 34 DOM
14. 2026-06-01
    days on market $135,000 Active 33 DOM
15. 2026-05-31
    days on market $135,000 Active 32 DOM
16. 2026-05-30
    days on market $135,000 Active 31 DOM
17. 2026-05-12
    price $135,000 538-char remark
18. 2026-04-29
    listed $145,000 Active 538-char remark
19. 2025-05-13
    listed $160,000 Active
20. 2022-02-02
    soldstatus $80,000
21. 2022-01-28
    soldstatus $80,000

    Show marketing remark (364 chars)

    Great income property! This beautiful two family offers tons of updates including a new furnace in December of 2014, new electric panel & meter in July of 2015, new water heater and chimney liner both put in April of 2020. Conveniently located close to shopping, food, schools and bus line. Call your agent today to set up an appointment to see this house!!

22. 2021-09-30
    listed $89,900

    Show marketing remark (364 chars)

    Great income property! This beautiful two family offers tons of updates including a new furnace in December of 2014, new electric panel & meter in July of 2015, new water heater and chimney liner both put in April of 2020. Conveniently located close to shopping, food, schools and bus line. Call your agent today to set up an appointment to see this house!!

23. 2018-08-18
    listed $65,000
24. 2014-09-05
    soldstatus $55,000
25. 2014-02-09
    listed $59,900

ⓘ 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: $1,777 · $148/mo
• Projected year-2 tax: $2,029 · $169/mo
• Expected delta: +$252/yr (+$21/mo · 14.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $27,768
• − Mortgage interest: −$7,562
• − Property taxes: −$1,777
• − Insurance: −$675
• − Repairs & maintenance: −$2,221
• − Management: −$2,221
• − Depreciation: −$3,927
• Taxable income: $9,384
• Est. tax owed @ 24.0%: −$2,252
• After-tax cash flow: $8,737/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

+125.4% since first listed

9 events — show timeline

• 2026-05-12 Price Changed $135,000 GBAOR
• 2026-04-29 Listed $145,000 GBAOR
• 2025-05-13 Listed $160,000 GBAOR
• 2022-02-02 Sold (Public Records) $80,000 Public Records
• 2022-01-28 Sold (MLS) $80,000 GBAOR
• 2021-09-30 Listed $89,900 GBAOR
• 2018-08-18 Listed $65,000 GBAOR
• 2014-09-05 Sold (MLS) $55,000 GBAOR
• 2014-02-09 Listed $59,900 GBAOR

Property tax history

-8.1%/yr

Latest (2022): $1,777 · -67.2% YoY. Source: county tax records.