64 Louisa St · Binghamton, NY 13904

$119,900

5 bd · 3.0 ba · 2,326 sqft · MultiFamily public records · 123 Days on market

Built 1910 9,583 sqft lot Est $149k · 19% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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

A great opportunity to expand your investment portfolio! 1st floor left is a one bedroom apartment rent of 600 per month which includes utilities, 3rd floor apartment is above that apartment on the left. This I bedroom apartment has been recently completely remodeled and since it has just been completed the landlord has chosen to let the new buyers choose their tenants. Right hand side of building is a large 3 bedroom apartment with 2 floors of living, an updated kitchen and bath and rents for 900 per month which includes utilities. Each side of the building has its own driveway making it very convenient for tenants. The yard is large and level. There are 2 furnaces (ONE IS BRAND NEW--INST

Key facts

• Updated bath
• Large and level yard
• Updated kitchen

Tags

• RECENTLY COMPLETELY REMODELED
• LARGE 3 BEDROOM APARTMENT
• UPDATED KITCHEN
• UPDATED BATH
• OWN DRIVEWAY
• LARGE AND LEVEL YARD

Property features AI

Finance

• Other: Zoned for 3-family residence; Level lot; Lot dimensions 60 x 160
• Financial info: Unit rents: one unit at $650/month, one unit at $1,125/month; third unit rent not listed

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential income property; Triplex
• Construction: Shingle siding
• Exterior features: Covered porch

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: One 1-bedroom unit; One 3-bedroom unit; One 1-bedroom unit
• Flooring: Carpet; Hardwood; Laminate; Vinyl
• Bathrooms: Three full bathrooms total (units: 1, 1, 1)
• Heating & cooling: Hot water heating; No central cooling
• Interior features: Gas water heater; Range; Refrigerator
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.6% 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: Calvin Coolidge School (math 27% / reading 37%, grade F, #1,646 of 2,108 statewide, top 80%, 312 students, 72% FRL).
• Market conditions: 41 active listings in the ZIP; 3 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 $13k of equity ($829 loan paydown + $12k 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 $34k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $85k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 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 1910 — 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: 3.02% ✓
• Cap rate: 26.65%
• Cash-on-cash: 72.69%
• DSCR: 4.23
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $148,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
64 Louisa St	0.00mi	5/3.0	2,326 (0%)	1mo	$105,000	$45	99
57 Ely St	0.20mi	4/3.0 (-1)	2,192 (-6%)	1mo	$112,500	$51	75
19 Moeller St	0.37mi	5/2.0	2,356 (+1%)	4mo	$140,000	$59	73
34 Gaylord St	0.42mi	4/2.0 (-1)	2,465 (+6%)	7mo	$112,000	$45	56
42 Moeller St	0.20mi	6/2.0 (+1)	2,584 (+11%)	15mo	$170,000	$66	51
42 George St	0.12mi	4/2.0 (-1)	2,044 (-12%)	18mo	$145,000	$71	51
9 Allen St	0.72mi	4/3.0 (-1)	2,184 (-6%)	5mo	$150,000	$69	47
122 Bevier St #1	0.57mi	5/2.5	2,180 (-6%)	17mo	$140,000	$64	47
11 Mason Ave	0.45mi	6/3.0 (+1)	2,135 (-8%)	17mo	$210,000	$98	46
13 Sturges St	0.72mi	4/2.0 (-1)	2,194 (-6%)	12mo	$105,000	$48	38
121 Eldredge St	0.74mi	5/3.5	2,508 (+8%)	16mo	$230,000	$92	37
14 Wales Ave	0.72mi	6/2.0 (+1)	2,654 (+14%)	1mo	$108,000	$41	34

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: 83.4%
• Equity multiple: 6.80×
• Total profit: $194,874
• Equity at exit: $108,015

10-year hold

• IRR: 77.8%
• Equity multiple: 15.06×
• Total profit: $472,129
• Equity at exit: $232,939

Cash invested: $33,572 (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 13904

• Home prices YoY: 17.1%
• Active inventory: 41
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,623 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$761
• Net cashflow: $2,034

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 39%

Sensitivity live

Price	-10% $2,116	-5% $2,075	+0% $2,034	+5% $1,992	+10% $1,951
Rent	-10% $1,747	-5% $1,890	+0% $2,034	+5% $2,177	+10% $2,320
Rate	-1.0pp $2,094	-0.5pp $2,064	base $2,034	+0.5pp $2,002	+1.0pp $1,971

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,132
▸ 2× units	3	1	$2,490
Total (3 units)			$3,623

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 Chenango St Binghamton, NY	5.0	2.5	2500	$2,800	$1.12	14d	1	1.09mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	44d	1	1.36mi
100 Felters Rd Binghamton, NY	4.0	2.5	2000	$2,500	$1.25	44d	1	1.43mi

Listing history 5 events

1. 2026-04-20
   status Pending
2. 2026-01-27
   price $119,900
3. 2025-12-16
   listed $129,900 Active
4. 2007-12-14
   soldstatus $85,000
5. 2005-09-15
   soldstatus $54,075

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°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: $43,476
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$3,478
• − Management: −$3,478
• − Depreciation: −$3,488
• Taxable income: $23,918
• Est. tax owed @ 24.0%: −$5,740
• After-tax cash flow: $18,663/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
• City population: 65,170
• Population (ZIP): 9,138

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 (73%)
• Race & ethnicity: White 73% Black 12% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · French/Haitian/Cajun 5% Spanish 4% Chinese 2%

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: ▲ 40.85%
• Current HPI: 280.3184
• Rent YoY: —
• Metro: —
• 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

+121.7% since first listed

5 events — show timeline

• 2026-04-20 Pending — GBAOR
• 2026-01-27 Price Changed $119,900 GBAOR
• 2025-12-16 Listed $129,900 GBAOR
• 2007-12-14 Sold (Public Records) $85,000 Public Records
• 2005-09-15 Sold (Public Records) $54,075 Public Records

Property tax history

+4.7%/yr

Latest (2025): $6,661 · +0.9% YoY. Source: county tax records.