12 Livingston ST St · Binghamton, NY 13903

$239,000

6 bd · 2.0 ba · 2,036 sqft · MultiFamily public records · 127 Days on market

Built 1906 7,840 sqft lot $117/sqft · 15% below area Est $280k · 15% 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 +27.2/30.0
• ARV discount +14.1/15.0
• Appreciation +10.0/10.0
• DSCR +9.5/10.0
• 1% rule +7.7/10.0
• 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

LOCATION!!! Multifamily at southside in opposite from school, cross from downtown. easily access to shopping, grocery, hospital , university bus line and major highway. both units have same layout with 3bed and 1bath. all separate utilities for tenant can pay own bills. can be rented to Student.

Key facts

• Access to grocery
• Access to hospital
• Access to shopping

Tags

• SOUTHSIDE LOCATION
• ACCESS TO SHOPPING
• ACCESS TO GROCERY
• ACCESS TO HOSPITAL
• ACCESS TO UNIVERSITY BUS LINE
• ACCESS TO MAJOR HIGHWAY

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $239k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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: 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: 112 active listings in the ZIP; 6 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).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k 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 $67k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $160k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.27% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.32%
• DSCR: 1.55
• GRM: 6.5

CMA / ARV

• ARV (median comp): $280,441
• List price: $239,000
• Delta: -14.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
68 Conklin Ave	0.07mi	7/2.0 (+1)	1,984 (-3%)	17mo	$270,000	$136	74
1304 Vestal Ave	0.27mi	6/2.0	1,869 (-8%)	2mo	$62,000	$33	72
22 Hancock St	0.30mi	5/2.0 (-1)	2,028 (-0%)	11mo	$125,000	$62	71
17 Mcnamara Ave	0.26mi	6/2.0	2,184 (+7%)	8mo	$225,000	$103	69
1 Parsons St	0.17mi	5/2.0 (-1)	1,806 (-11%)	1mo	$85,000	$47	67
1212 Vestal Ave	0.24mi	5/3.0 (-1)	1,904 (-6%)	4mo	$180,000	$95	65
7 John St	0.47mi	6/2.0	2,100 (+3%)	13mo	$50,000	$24	62
12 Stuyvesant St	0.57mi	6/2.0	1,954 (-4%)	7mo	$124,000	$63	61
71 S Washington St	0.35mi	5/2.0 (-1)	1,926 (-5%)	14mo	$157,000	$82	58
9 Telegraph St	0.38mi	6/2.0	1,918 (-6%)	19mo	$40,150	$21	57
50 Rush Ave	0.64mi	5/2.0 (-1)	2,061 (+1%)	12mo	$207,000	$100	53
192 Conklin Ave	0.62mi	6/2.0	2,253 (+11%)	5mo	$115,000	$51	50

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: 33.3%
• Equity multiple: 3.60×
• Total profit: $174,025
• Equity at exit: $215,310

10-year hold

• IRR: 28.8%
• Equity multiple: 8.15×
• Total profit: $478,225
• Equity at exit: $464,324

Cash invested: $66,920 (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: 13.1×

Monthly cashflow live

• Estimated rent: $3,044 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$365 /mo · $4,375/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $687

Break-even live

Break-even rent $2,174

Max offer price $239,000

Occupancy floor 72%

Sensitivity live

Price	-10% $823	-5% $755	+0% $687	+5% $620	+10% $552
Rent	-10% $447	-5% $567	+0% $687	+5% $808	+10% $928
Rate	-1.0pp $808	-0.5pp $748	base $687	+0.5pp $625	+1.0pp $562

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,044
Total (2 units)			$3,044

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	0.14mi
2 Chapel Pl Binghamton, NY	6.0	3.0	2600	$650	$0.25	45d	1	0.72mi
44 Leroy St Binghamton, NY	6.0	2.0	1772	$3,000	$1.69	22d	1	0.78mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	45d	1	0.85mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	45d	1	0.87mi
19 Edwards St Binghamton, NY	7.0	3.0	2989	$600	$0.20	45d	1	1.13mi

Listing history 28 events

1. 2026-06-21
   days on market $239,000 Active 127 DOM
2. 2026-06-19
   days on market $239,000 Active 125 DOM
3. 2026-06-18
   days on market $239,000 Active 124 DOM
4. 2026-06-17
   days on market $239,000 Active 123 DOM
5. 2026-06-16
   days on market $239,000 Active 122 DOM
6. 2026-06-15
   days on market $239,000 Active 121 DOM
7. 2026-06-14
   days on market $239,000 Active 119 DOM
8. 2026-06-13
   statusdays on market $239,000 Active 118 DOM
9. 2026-06-10
   days on market $239,000 Active Under Contract 116 DOM
10. 2026-06-09
    days on market $239,000 Active Under Contract 115 DOM
11. 2026-06-08
    days on market $239,000 Active Under Contract 114 DOM
12. 2026-06-07
    days on market $239,000 Active Under Contract 113 DOM
13. 2026-06-03
    days on market $239,000 Active Under Contract 109 DOM
14. 2026-06-02
    days on market $239,000 Active Under Contract 108 DOM
15. 2026-06-01
    days on market $239,000 Active Under Contract 107 DOM
16. 2026-05-31
    days on market $239,000 Active Under Contract 106 DOM
17. 2026-05-30
    days on market $239,000 Active Under Contract 105 DOM
18. 2026-05-03
    historical Active Under Contract 298-char remark

    Show marketing remark (298 chars)

    LOCATION!!! Multifamily at southside in opposite from school, cross from downtown. easily access to shopping, grocery, hospital , university bus line and major highway. both units have same layout with 3bed and 1bath. all separate utilities for tenant can pay own bills. can be rented to Student.

19. 2026-02-15
    listed $239,000 Active 298-char remark

    Show marketing remark (298 chars)

    LOCATION!!! Multifamily at southside in opposite from school, cross from downtown. easily access to shopping, grocery, hospital , university bus line and major highway. both units have same layout with 3bed and 1bath. all separate utilities for tenant can pay own bills. can be rented to Student.

20. 2025-10-18
    status Active
21. 2025-08-07
    price $239,999
22. 2025-06-30
    listed $244,000 Active
23. 2023-10-05
    soldstatus $160,000
24. 2023-09-27
    soldstatus $160,000 Closed
25. 2023-06-30
    status Pending
26. 2023-06-21
    listed $169,900 Active
27. 2018-07-09
    listed $89,500
28. 2008-03-13
    soldstatus $94,000

ⓘ 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: $4,375 · $365/mo
• Projected year-2 tax: $4,375 · $365/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 6/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 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: $36,528
• − Mortgage interest: −$13,388
• − Property taxes: −$4,375
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,922
• − Management: −$2,922
• − Depreciation: −$6,953
• Taxable income: $4,773
• Est. tax owed @ 24.0%: −$1,146
• After-tax cash flow: $7,102/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

+154.3% since first listed

11 events — show timeline

• 2026-05-03 Contingent — GBAOR
• 2026-02-15 Listed $239,000 GBAOR
• 2025-10-18 Relisted — GBAOR
• 2025-08-07 Price Changed $239,999 GBAOR
• 2025-06-30 Listed $244,000 GBAOR
• 2023-10-05 Sold (Public Records) $160,000 Public Records
• 2023-09-27 Sold (MLS) $160,000 GBAOR
• 2023-06-30 Pending — GBAOR
• 2023-06-21 Listed $169,900 GBAOR
• 2018-07-09 Listed $89,500 GBAOR
• 2008-03-13 Sold (Public Records) $94,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,375 · +0.9% YoY. Source: county tax records.