23 Stuyvesant St St · Binghamton, NY 13901

$204,900

6 bd · 2.0 ba · 2,598 sqft · MultiFamily public records · 22 Days on market

Built 1940 3,484 sqft lot Est $164k · 25% over

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Why this score? — see what drove the C 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 +27.7/30.0
• DSCR +9.7/10.0
• 1% rule +7.9/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Large 2 family home; could be a good money maker! Freddie Mac Foreclosure being sold CASH; as is. First look period first 20 days of listing - owner-occupy offers ONLY considered; expires 9/24/2015.

Key facts

• Strong rental demand
• Immediate income
• 3,484 sq ft lot

Tags

• GENERATING RENTAL INCOME
• LEASE COMMITMENTS IN PLACE
• DUPLEX CURRENTLY LEASED
• IMMEDIATE INCOME
• STRONG RENTAL DEMAND
• NEAR LOCAL UNIVERSITIES

Property features AI

Finance

• Other: Above-grade finished area reported
• Financial info: Income property with listed rent: $2,600 (unit)

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income property); Level lot; Zoned R-3
• Construction: Aluminum siding; Has basement
• Exterior features: Covered porch; Screened porch; Patio

Interior

• Kitchen: Range; Refrigerator; Gas water heater
• Bedrooms: 4 bedrooms
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Washer and dryer included; Gas water heater; Range; Refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $616 ($7k/yr) — positive. Per door: $308/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $202k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% 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); Binghamton High School (math 71% / reading 79%, grade A-, #631 of 1,100 statewide, top 58%, 1,341 students, 69% FRL) — zoned schools at 65% FRL track the district average.
• Zoned-school proficiency averages 51% at this address vs 37% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Binghamton City School District average implies; a family-tenant draw the district grade alone would hide.
• 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $57k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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.
• Current owner paid $12k; list at $205k implies a 1539% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $201,826 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.88%
• DSCR: 1.57
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $163,674
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Wales Ave	0.49mi	6/2.0	2,654 (+2%)	1mo	$108,000	$41	73
5 Mill St	0.52mi	6/2.0	2,485 (-4%)	1mo	$220,000	$89	68
233 Conklin Ave	0.52mi	6/2.0	2,576 (-1%)	9mo	$163,000	$63	67
23 Robinson St	0.54mi	7/4.0 (+1)	2,612 (+0%)	3mo	$90,000	$34	58
231 Conklin Ave	0.51mi	6/2.0	2,432 (-6%)	9mo	$163,000	$67	58
196 Hawley St	0.11mi	6/2.0	2,984 (+15%)	15mo	$127,000	$43	57
192 Conklin Ave	0.48mi	6/2.0	2,253 (-13%)	5mo	$115,000	$51	52
28 Jackson St	0.41mi	5/2.0 (-1)	2,208 (-15%)	2mo	$100,000	$45	49
121 Eldredge St	0.46mi	5/3.5 (-1)	2,508 (-4%)	16mo	$230,000	$92	48
19 Mcnamara Ave	0.67mi	5/2.0 (-1)	2,688 (+4%)	13mo	$200,000	$74	47
114 Conklin Ave	0.46mi	5/4.0 (-1)	2,822 (+9%)	10mo	$176,000	$62	43
62 Conklin Ave	0.58mi	6/5.0	2,520 (-3%)	16mo	$250,000	$99	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.11×
• Total profit: $6,101
• Equity at exit: $30,551

10-year hold

• IRR: 12.4%
• Equity multiple: 1.98×
• Total profit: $56,119
• Equity at exit: $17,716

Cash invested: $57,372 (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: 13.0×

Monthly cashflow live

• Estimated rent: $2,636 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$307 /mo · $3,679/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $616

Break-even live

Break-even rent $1,856

Max offer price $204,900

Occupancy floor 72%

Sensitivity live

Price	-10% $732	-5% $674	+0% $616	+5% $558	+10% $500
Rent	-10% $408	-5% $512	+0% $616	+5% $720	+10% $824
Rate	-1.0pp $719	-0.5pp $668	base $616	+0.5pp $563	+1.0pp $509

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,636
Total (2 units)			$2,636

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: $51,225
• Closing costs: $6,147
• 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	15d	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 17 events

1. 2026-06-21
   days on market $204,900 Active 22 DOM
2. 2026-06-19
   days on market $204,900 Active 20 DOM
3. 2026-06-18
   days on market $204,900 Active 19 DOM
4. 2026-06-17
   days on market $204,900 Active 18 DOM
5. 2026-06-16
   days on market $204,900 Active 17 DOM
6. 2026-06-15
   days on market $204,900 Active 16 DOM
7. 2026-06-14
   days on market $204,900 Active 14 DOM
8. 2026-06-13
   days on market $204,900 Active 13 DOM
9. 2026-06-10
   days on market $204,900 Active 11 DOM
10. 2026-06-09
    days on market $204,900 Active 10 DOM
11. 2026-06-08
    days on market $204,900 Active 9 DOM
12. 2026-06-07
    days on market $204,900 Active 8 DOM
13. 2026-06-03
    days on market $204,900 Active 4 DOM
14. 2026-06-02
    days on market $204,900 Active 3 DOM
15. 2026-06-01
    days on market $204,900 Active 2 DOM
16. 2026-05-30
    remarks 699-char remark
17. 2026-05-30
    listed $204,900 Active 1 DOM

ⓘ 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: $3,679 · $307/mo
• Projected year-2 tax: $3,679 · $307/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: $31,632
• − Mortgage interest: −$11,478
• − Property taxes: −$3,679
• − Insurance: −$1,024
• − Repairs & maintenance: −$2,531
• − Management: −$2,531
• − Depreciation: −$5,961
• Taxable income: $4,429
• Est. tax owed @ 24.0%: −$1,063
• After-tax cash flow: $6,329/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

+260.0% since first listed

4 events — show timeline

• 2026-05-30 Listed $204,900 GBAOR
• 2015-12-15 Sold (MLS) $12,500 GBAOR
• 2015-09-14 Listed $14,900 GBAOR
• 2007-05-07 Sold (Public Records) $56,914 Public Records

Property tax history

+2.4%/yr

Latest (2025): $3,679 · +0.9% YoY. Source: county tax records.