171 West End Ave · Binghamton, NY 13905

$299,900

4 bd · 2.0 ba · 2,411 sqft · MultiFamily public records · 99 Days on market

Built 1925 6,700 sqft lot $124/sqft · 9% below area Est $331k · 9% under

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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 +23.5/30.0
• ARV discount +11.8/15.0
• DSCR +7.6/10.0
• 1% rule +7.2/10.0
• 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

Excellent Investment Opportunity! Well-maintained two-family property offering strong rental income potential. Both units are currently occupied with tenants paying their own utilities, making this a great low-maintenance addition to your portfolio. The units will come fully furnished, creating an easy turnkey opportunity for investors. The property has been well cared for with several recent updates already completed. Conveniently located near the bus line this location attracts young professionals and supports steady rental demand. Whether you're looking to expand your investment portfolio or live in one unit while renting the other, this property offers flexibility and solid income potential.

Key facts

• Recent updates
• Two-family property
• Fully furnished

Tags

• TWO-FAMILY PROPERTY
• STRONG RENTAL INCOME POTENTIAL
• FULLY FURNISHED
• RECENT UPDATES
• STEADY RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive. Per door: $280/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $273k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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; 9 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 $3,644/mo this rent would consume 82% 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 $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $121k; list at $300k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $272,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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 1925 — 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: 1.22% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.00%
• DSCR: 1.36
• GRM: 6.9

CMA / ARV

• ARV (median comp): $331,338
• List price: $299,900
• Delta: -9.49%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
184 West End Ave	0.08mi	5/2.0 (+1)	2,400 (-0%)	7mo	$178,500	$74	85
7 Bellevue Hts	0.47mi	4/2.0	2,214 (-8%)	4mo	$140,000	$63	61
32 Haendel St	0.69mi	4/2.0	2,312 (-4%)	2mo	$170,000	$74	60
7 Goethe St	0.71mi	4/2.0	2,240 (-7%)	3mo	$180,000	$80	52
12 Narwood St	0.50mi	5/3.0 (+1)	2,500 (+4%)	11mo	$235,000	$94	52
29 Miles St	0.50mi	4/2.0	2,080 (-14%)	10mo	$130,000	$63	45
234 Grand Ave	0.65mi	4/4.0	2,126 (-12%)	3mo	$160,000	$75	40
203 Hudson St	0.66mi	3/3.0 (-1)	2,206 (-8%)	8mo	$54,000	$24	39
109 Beethoven St	0.73mi	4/3.0	2,600 (+8%)	12mo	$225,000	$87	39
378 Prospect St	0.73mi	4/4.0	2,214 (-8%)	9mo	$171,000	$77	37
143 Harrison St	0.65mi	5/3.0 (+1)	2,127 (-12%)	11mo	$224,720	$106	32
6 Highland Ave	0.72mi	5/2.0 (+1)	2,120 (-12%)	12mo	$165,000	$78	31

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.08×
• Total profit: $6,515
• Equity at exit: $44,716

10-year hold

• IRR: 16.2%
• Equity multiple: 2.67×
• Total profit: $140,063
• Equity at exit: $25,930

Cash invested: $83,972 (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 13905

• Home prices YoY: -31.1%
• Rents YoY: 11.2%
• Active inventory: 136
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,644 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$621 /mo · $7,457/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$765
• Net cashflow: $560

Break-even live

Break-even rent $2,936

Max offer price $299,900

Occupancy floor 80%

Sensitivity live

Price	-10% $729	-5% $645	+0% $560	+5% $475	+10% $390
Rent	-10% $272	-5% $416	+0% $560	+5% $704	+10% $848
Rate	-1.0pp $711	-0.5pp $636	base $560	+0.5pp $482	+1.0pp $403

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$3,644
Total (2 units)			$3,644

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	44d	1	0.41mi
74 Matthews St Binghamton, NY	3.0	2.0	2510	$2,300	$0.92	21d	1	0.43mi
57 Fowler Ave Johnson City, NY	3.0	2.5	2497	$2,000	$0.80	14d	1	0.53mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	14d	1	0.60mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	44d	1	0.67mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	44d	1	1.31mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	44d	1	1.37mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	44d	1	1.43mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	44d	1	1.45mi

Listing history 21 events

1. 2026-06-19
   days on market $299,900 Active 99 DOM
2. 2026-06-18
   days on market $299,900 Active 98 DOM
3. 2026-06-17
   days on market $299,900 Active 97 DOM
4. 2026-06-16
   days on market $299,900 Active 96 DOM
5. 2026-06-15
   days on market $299,900 Active 95 DOM
6. 2026-06-14
   days on market $299,900 Active 93 DOM
7. 2026-06-13
   days on market $299,900 Active 92 DOM
8. 2026-06-10
   days on market $299,900 Active 90 DOM
9. 2026-06-09
   days on market $299,900 Active 89 DOM
10. 2026-06-08
    days on market $299,900 Active 88 DOM
11. 2026-06-07
    days on market $299,900 Active 87 DOM
12. 2026-06-03
    days on market $299,900 Active 83 DOM
13. 2026-06-02
    days on market $299,900 Active 82 DOM
14. 2026-06-01
    days on market $299,900 Active 81 DOM
15. 2026-05-31
    days on market $299,900 Active 80 DOM
16. 2026-05-30
    days on market $299,900 Active 79 DOM
17. 2026-05-11
    price $299,900 705-char remark

    Show marketing remark (705 chars)

    Excellent Investment Opportunity! Well-maintained two-family property offering strong rental income potential. Both units are currently occupied with tenants paying their own utilities, making this a great low-maintenance addition to your portfolio. The units will come fully furnished, creating an easy turnkey opportunity for investors. The property has been well cared for with several recent updates already completed. Conveniently located near the bus line this location attracts young professionals and supports steady rental demand. Whether you're looking to expand your investment portfolio or live in one unit while renting the other, this property offers flexibility and solid income potential.

18. 2026-03-12
    listed $324,900 Active 705-char remark

    Show marketing remark (705 chars)

    Excellent Investment Opportunity! Well-maintained two-family property offering strong rental income potential. Both units are currently occupied with tenants paying their own utilities, making this a great low-maintenance addition to your portfolio. The units will come fully furnished, creating an easy turnkey opportunity for investors. The property has been well cared for with several recent updates already completed. Conveniently located near the bus line this location attracts young professionals and supports steady rental demand. Whether you're looking to expand your investment portfolio or live in one unit while renting the other, this property offers flexibility and solid income potential.

19. 2018-08-28
    soldstatus $121,000
20. 2018-08-22
    soldstatus $121,000 193-char remark

    Show marketing remark (193 chars)

    Excellent student rental. Fully furnished and currently leased until May 2019. All separate utilities that the tenants pay. Updated high efficient furnaces, updated water heaters, and electric.

21. 2018-05-03
    listed $139,900 193-char remark

    Show marketing remark (193 chars)

    Excellent student rental. Fully furnished and currently leased until May 2019. All separate utilities that the tenants pay. Updated high efficient furnaces, updated water heaters, and electric.

ⓘ 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: $7,457 · $621/mo
• Projected year-2 tax: $7,457 · $621/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 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: $43,728
• − Mortgage interest: −$16,799
• − Property taxes: −$7,457
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,498
• − Management: −$3,498
• − Depreciation: −$8,724
• Taxable income: $2,252
• Est. tax owed @ 24.0%: −$540
• After-tax cash flow: $6,176/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

+114.4% since first listed

5 events — show timeline

• 2026-05-11 Price Changed $299,900 GBAOR
• 2026-03-12 Listed $324,900 GBAOR
• 2018-08-28 Sold (Public Records) $121,000 Public Records
• 2018-08-22 Sold (MLS) $121,000 GBAOR
• 2018-05-03 Listed $139,900 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $7,457 · +0.9% YoY. Source: county tax records.