17 Vine St · Binghamton, NY 13903

$154,000

4 bd · 2.0 ba · 1,950 sqft · MultiFamily public records · 13 Days on market

Built 1900 7,007 sqft lot Est $150k · at est.

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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
• Appreciation +10.0/10.0
• ARV discount +6.3/15.0
• 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

Ready to rent fully refreshed

Key facts

• 7,007 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $154k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $154k).
• Cap rate 16.7% 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: Macarthur School (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 398 students, 62% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 112 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $3,262/mo this rent would consume 59% of the median local household income ($66k/yr) (locally 602% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k 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 $43k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,000

Questions for the listing agent

1. Built in 1900 — 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 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: 2.12% ✓
• Cap rate: 16.68%
• Cash-on-cash: 37.08%
• DSCR: 2.65
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $150,150
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1212 Vestal Ave	0.13mi	5/3.0 (+1)	1,904 (-2%)	4mo	$180,000	$95	77
71 S Washington St	0.13mi	5/2.0 (+1)	1,926 (-1%)	14mo	$157,000	$82	75
1 Parsons St	0.26mi	5/2.0 (+1)	1,806 (-7%)	1mo	$85,000	$47	70
5 Parsons St	0.28mi	4/4.0	2,064 (+6%)	1mo	$205,000	$99	69
6 John St	0.62mi	4/2.0	1,970 (+1%)	2mo	$155,000	$79	68
8 Grand St	0.55mi	4/2.0	1,788 (-8%)	2mo	$105,000	$59	59
22 Hancock St	0.46mi	5/2.0 (+1)	2,028 (+4%)	11mo	$125,000	$62	58
50 Rush Ave	0.45mi	5/2.0 (+1)	2,061 (+6%)	12mo	$207,000	$100	55
88 Pennsylvania Ave	0.45mi	3/3.0 (-1)	2,058 (+6%)	9mo	$90,000	$44	53
93 Mitchell Ave	0.44mi	3/2.0 (-1)	1,680 (-14%)	5mo	$130,000	$77	47
34 Evans St	0.74mi	4/2.0	1,752 (-10%)	10mo	$42,000	$24	40
142 Hawley St	0.73mi	3/2.0 (-1)	1,820 (-7%)	14mo	$84,000	$46	38

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: 52.8%
• Equity multiple: 4.92×
• Total profit: $168,893
• Equity at exit: $138,735

10-year hold

• IRR: 46.5%
• Equity multiple: 10.99×
• Total profit: $430,946
• Equity at exit: $299,188

Cash invested: $43,120 (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 13903

• Home prices YoY: 4.3%
• Active inventory: 112
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $3,262 high
• Mortgage (P&I): −$808
• Tax from tax record: −$373 /mo · $4,474/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$685
• Net cashflow: $1,332

Break-even live

Break-even rent $1,575

Max offer price $154,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,420	-5% $1,376	+0% $1,332	+5% $1,289	+10% $1,245
Rent	-10% $1,075	-5% $1,204	+0% $1,332	+5% $1,461	+10% $1,590
Rate	-1.0pp $1,410	-0.5pp $1,372	base $1,332	+0.5pp $1,292	+1.0pp $1,252

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$3,261
Total (3 units)			$3,262

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	14d	1	0.35mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	14d	1	0.37mi
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	45d	1	0.63mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	45d	1	0.70mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	45d	1	0.78mi
13 Chapin St Binghamton, NY	4.0	3.0	2452	$4,000	$1.63	45d	1	0.79mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	45d	1	0.88mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	45d	1	0.94mi
51 2nd St Binghamton, NY	3.0	2.5	2333	$2,200	$0.94	14d	1	1.04mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	45d	1	1.05mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	45d	1	1.07mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	45d	1	1.07mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	45d	1	1.14mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	22d	1	1.21mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	14d	1	1.23mi

Listing history 2 events

1. 2026-01-20
   status Pending
2. 2026-01-07
   listed $154,000 Active

ⓘ 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: $4,474 · $373/mo
• Projected year-2 tax: $4,474 · $373/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 1/10 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: $39,144
• − Mortgage interest: −$8,626
• − Property taxes: −$4,474
• − Insurance: −$770
• − Repairs & maintenance: −$3,132
• − Management: −$3,132
• − Depreciation: −$4,480
• Taxable income: $14,530
• Est. tax owed @ 24.0%: −$3,487
• After-tax cash flow: $12,501/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): 17,569
• Household income: $66,278
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 602.0

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 (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 6% Slovak 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 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: ▲ 11.68%
• Current HPI: 286.1001
• Rent YoY: —
• 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

2 events — show timeline

• 2026-01-20 Pending — GBAOR
• 2026-01-07 Listed $154,000 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $4,474 · +0.9% YoY. Source: county tax records.