21 Stuyvesant St St · Binghamton, NY 13901

$199,900

6 bd · 1.5 ba · 2,678 sqft · SingleFamily public records · 25 Days on market

Built 1900 3,484 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• Cash flow +0.1/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Turnkey student housing investment opportunity in Downtown Binghamton generating $2,600/month in rental income with lease commitments in place through 2027. Located in a high-demand student rental market near Downtown amenities, public transportation, and major commuter routes, this property offers strong ongoing rental appeal and stable occupancy potential. Spacious 5-bedroom, 2 full bathroom home featuring expansive living areas, generous common space, first-floor laundry, stainless steel appliances, hardwood floors, original woodwork, pocket doors, stained glass details, and classic charm throughout. Thoughtfully updated while preserving much of the home’s original character, the p

Key facts

• Pocket doors
• Original woodwork
• First-floor laundry

Tags

• FIRST-FLOOR LAUNDRY
• STAINLESS STEEL APPLIANCES
• HARDWOOD FLOORS
• ORIGINAL WOODWORK
• POCKET DOORS
• STAINED GLASS DETAILS

Property features AI

Finance

• Other: Listing broker: eXp REALTY

Exterior

• Parking: Driveway; Shared driveway; On-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories
• Construction: Vinyl siding; Built above grade finished area of 2,678
• Exterior features: Covered porch; Level lot

Interior

• Kitchen: Refrigerator
• Flooring: Hardwood floors; Vinyl flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced-air heating; No central cooling
• Interior features: Fireplace in the living room (masonry); Gas water heater; Refrigerator included; Dryer included; Has basement; Nine total rooms
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 6-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-906 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (38.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (45.8% below list).
• Recommended offer: $108k (45.8% below list) — sets the bar for 1% rule.
• Cap rate 0.9% vs local median 6.4% in Binghamton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 92 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $200k implies a 525% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,344 (45.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.54% ✗
• Cap rate: 0.85%
• Cash-on-cash: -19.43%
• DSCR: 0.14
• GRM: 15.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -55.9%
• Equity multiple: -0.61×
• Total profit: $-89,857
• Equity at exit: $29,806

10-year hold

• IRR: —
• Equity multiple: -1.71×
• Total profit: $-151,547
• Equity at exit: $17,284

Cash invested: $55,972 (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 13901

• Home prices YoY: -5.1%
• Active inventory: 92
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $1,083 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$631 /mo · $7,566/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $-906

Break-even live

Break-even rent $2,231

Max offer price $123,853

Occupancy floor —

Sensitivity live

Price	-10% $-793	-5% $-850	+0% $-906	+5% $-963	+10% $-1,019
Rent	-10% $-992	-5% $-949	+0% $-906	+5% $-863	+10% $-821
Rate	-1.0pp $-806	-0.5pp $-855	base $-906	+0.5pp $-958	+1.0pp $-1,011

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	14d	1	0.47mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	45d	1	0.88mi
2 Chapel Pl Binghamton, NY	6.0	3.0	2600	$650	$0.25	45d	1	0.93mi
44 Leroy St Binghamton, NY	6.0	2.0	1772	$3,000	$1.69	22d	1	1.06mi
19 Edwards St Binghamton, NY	7.0	3.0	2989	$600	$0.20	45d	1	1.20mi

Listing history 19 events

1. 2026-06-21
   days on market $199,900 Active 25 DOM
2. 2026-06-19
   days on market $199,900 Active 23 DOM
3. 2026-06-18
   days on market $199,900 Active 22 DOM
4. 2026-06-17
   days on market $199,900 Active 21 DOM
5. 2026-06-16
   days on market $199,900 Active 20 DOM
6. 2026-06-15
   days on market $199,900 Active 19 DOM
7. 2026-06-14
   days on market $199,900 Active 17 DOM
8. 2026-06-13
   days on market $199,900 Active 16 DOM
9. 2026-06-10
   days on market $199,900 Active 14 DOM
10. 2026-06-09
    days on market $199,900 Active 13 DOM
11. 2026-06-08
    days on market $199,900 Active 12 DOM
12. 2026-06-07
    days on market $199,900 Active 11 DOM
13. 2026-06-03
    days on market $199,900 Active 7 DOM
14. 2026-06-02
    days on market $199,900 Active 6 DOM
15. 2026-06-01
    days on market $199,900 Active 5 DOM
16. 2026-05-31
    days on market $199,900 Active 4 DOM
17. 2026-05-30
    days on market $199,900 Active 3 DOM
18. 2026-05-27
    listed $199,900 Active
19. 2006-10-16
    soldstatus $32,000

ⓘ 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: $7,566 · $631/mo
• Projected year-2 tax: $7,566 · $631/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: $13,001
• − Mortgage interest: −$11,198
• − Property taxes: −$7,566
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$5,815
• Taxable loss: −$14,657
• Est. tax savings @ 24.0%: +$3,518
• After-tax cash flow: $-7,356/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): 19,613
• Household income: $55,523
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 1230.0

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% Two or more races 7% Hispanic / Latino 7% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -16.13%
• Current HPI: 300.7692
• 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

+524.7% since first listed

2 events — show timeline

• 2026-05-27 Listed $199,900 GBAOR
• 2006-10-16 Sold (Public Records) $32,000 Public Records

Property tax history

+7.8%/yr

Latest (2025): $7,566 · +0.9% YoY. Source: county tax records.