162 Oak St · Binghamton, NY 13905

$144,900

3 bd · 2.0 ba · 1,260 sqft · MultiFamily public records · 90 Days on market

Built 1900 4,200 sqft lot $115/sqft · 22% below area Est $186k · 22% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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

Multi-family units

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

Listing remarks MLS

WOW. .. Great rent and low taxes! Looking to start with investing or add to your portfolio? This 2 unit multifamily in Binghamton is close to all city amenities and within walking distance to downtown. The larger main unit has 4 bedrooms with a tenant that wants to stay. The second unit is small studio apartment that just became vacant April 1st. This property was rented and generating $2020 in monthly rent … all with a total tax bill of only $1975 a year. The owner has maintained this property well and has recently replaced the shed roof and updated the electrical panels for easier access. Call your favorite agent today to schedule an appointment. 24 hours notice please.

Key facts

• Currently rented
• 4,200 sq ft lot
• 2 garage spots

Tags

• CLOSE TO CITY AMENITIES
• WALKING DISTANCE TO DOWNTOWN
• CURRENTLY RENTED
• GENERATING MONTHLY RENT

🏷️ Possibly a rental listed for sale. The $144,900 price doesn't fit this home's estimated sale value (~$185,695) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive. Per door: $288/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: 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; 34 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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 $2,083/mo this rent would consume 47% 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 $4k 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 $41k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.44% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.06%
• DSCR: 1.76
• GRM: 5.8

CMA / ARV

• ARV (median comp): $185,695
• List price: $144,900
• Delta: -21.97%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.1%
• Equity multiple: 1.60×
• Total profit: $24,335
• Equity at exit: $21,605

10-year hold

• IRR: 26.6%
• Equity multiple: 3.93×
• Total profit: $118,891
• Equity at exit: $12,528

Cash invested: $40,572 (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: 11.3×

Monthly cashflow live

• Estimated rent: $2,083 high
• Mortgage (P&I): −$760
• Tax from tax record: −$249 /mo · $2,983/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $577

Break-even live

Break-even rent $1,353

Max offer price $144,900

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,069
1× unit	1	1	$1,014
Total (2 units)			$2,083

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	44d	1	0.05mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	0.15mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	44d	1	0.20mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	44d	1	0.20mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	44d	1	0.20mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	44d	1	0.27mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	13d	1	0.30mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	44d	1	0.47mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	44d	1	0.51mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	21d	1	0.55mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	44d	1	0.55mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	44d	1	0.62mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	44d	1	0.70mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	13d	1	0.72mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	44d	1	0.78mi
36 Haendel St Unit Second Floor Binghamton, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.86mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	44d	1	0.86mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	44d	1	0.89mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	13d	1	0.91mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	13d	1	0.92mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	44d	1	0.99mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	1.05mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	44d	1	1.06mi
263 Main St Binghamton, NY	2.0	1.0	920	$1,200	$1.30	13d	1	1.11mi
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	13d	1	1.14mi
99 Helen St Unit 2 Binghamton, NY	3.0	1.0	1220	$1,600	$1.31	44d	1	1.18mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	44d	1	1.18mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	44d	1	1.20mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	21d	1	1.20mi
133 Crestmont Rd Unit 2 Binghamton, NY	3.0	1.0	1300	$1,900	$1.46	44d	1	1.22mi
296 Main St Unit 6 Binghamton, NY	3.0	1.0	1200	$1,250	$1.04	13d	1	1.26mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	13d	1	1.28mi
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	13d	1	1.39mi
14 Dennison Ave Unit 2 Binghamton, NY	2.0	1.0	1100	$1,150	$1.05	44d	1	1.49mi

Listing history 22 events

1. 2026-06-19
   days on market $144,900 Active 90 DOM
2. 2026-06-18
   days on market $144,900 Active 89 DOM
3. 2026-06-17
   days on market $144,900 Active 88 DOM
4. 2026-06-16
   days on market $144,900 Active 87 DOM
5. 2026-06-15
   days on market $144,900 Active 86 DOM
6. 2026-06-14
   days on market $144,900 Active 84 DOM
7. 2026-06-13
   days on market $144,900 Active 83 DOM
8. 2026-06-10
   days on market $144,900 Active 81 DOM
9. 2026-06-09
   days on market $144,900 Active 80 DOM
10. 2026-06-08
    days on market $144,900 Active 79 DOM
11. 2026-06-07
    days on market $144,900 Active 78 DOM
12. 2026-06-03
    days on market $144,900 Active 74 DOM
13. 2026-06-02
    days on market $144,900 Active 73 DOM
14. 2026-06-01
    days on market $144,900 Active 72 DOM
15. 2026-05-31
    days on market $144,900 Active 71 DOM
16. 2026-05-30
    days on market $144,900 Active 70 DOM
17. 2026-03-21
    listed $144,900 Active 687-char remark

    Show marketing remark (687 chars)

    WOW. .. Great rent and low taxes! Looking to start with investing or add to your portfolio? This 2 unit multifamily in Binghamton is close to all city amenities and within walking distance to downtown. The larger main unit has 4 bedrooms with a tenant that wants to stay. The second unit is small studio apartment that just became vacant April 1st. This property was rented and generating $2020 in monthly rent … all with a total tax bill of only $1975 a year. The owner has maintained this property well and has recently replaced the shed roof and updated the electrical panels for easier access. Call your favorite agent today to schedule an appointment. 24 hours notice please.

18. 2025-01-29
    soldstatus $128,647
19. 2024-12-23
    soldstatus $128,647 Closed 250-char remark

    Show marketing remark (250 chars)

    Discover this spacious 2 units building. Interior totally updated and turn key. Apartment two is vacant and ready to rent. Close to all city amenities. Walking distance to downtown. Secure this nice piece of real estate for your investment portfolio.

20. 2024-09-13
    status Pending 250-char remark

    Show marketing remark (250 chars)

    Discover this spacious 2 units building. Interior totally updated and turn key. Apartment two is vacant and ready to rent. Close to all city amenities. Walking distance to downtown. Secure this nice piece of real estate for your investment portfolio.

21. 2024-08-30
    listed $124,900 Active 250-char remark

    Show marketing remark (250 chars)

    Discover this spacious 2 units building. Interior totally updated and turn key. Apartment two is vacant and ready to rent. Close to all city amenities. Walking distance to downtown. Secure this nice piece of real estate for your investment portfolio.

22. 2007-04-19
    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: $2,983 · $249/mo
• Projected year-2 tax: $2,983 · $249/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 17 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: $24,996
• − Mortgage interest: −$8,117
• − Property taxes: −$2,983
• − Insurance: −$724
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − Depreciation: −$4,215
• Taxable income: $4,958
• Est. tax owed @ 24.0%: −$1,190
• After-tax cash flow: $5,731/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

+479.6% since first listed

6 events — show timeline

• 2026-03-21 Listed $144,900 CNYIS
• 2025-01-29 Sold (Public Records) $128,647 Public Records
• 2024-12-23 Sold (MLS) $128,647 GBAOR
• 2024-09-13 Pending — GBAOR
• 2024-08-30 Listed $124,900 GBAOR
• 2007-04-19 Sold (Public Records) $25,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,983 · +0.9% YoY. Source: county tax records.