82 Leroy St · Binghamton, NY 13905

$109,900

4 bd · 1.0 ba · 1,584 sqft · SingleFamily public records · 39 Days on market

Built 1910 6,098 sqft lot $69/sqft · 51% below area

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Here is a great opportunity to purchase a classic West Side home at an affordable price! The 1st floor has a welcoming foyer that opens to a large living room with a cozy wood burning fireplace. There is a separate room that can be used as a family room or an office. The hardwood floors add warmth & character throughout. Off the kitchen, there is a formal dining room with traditional built-ins. Upstairs you will find 4 good sized bedrooms all with hardwood floors & a full bathroom that has been updated & features a large walk-in shower. Updates include vinyl windows, furnace with central air, on-demand water heater, & roof. Out back, enjoy the private backyard & fenced patio area perfect for enjoying the outdoors. There is a large detached 2 car garage with plenty of room for additional storage. Bring your ideas & finishing touches to this charming & affordable West Side home!

Key facts

• Formal dining room
• Welcoming foyer
• Large living room

Tags

• WELCOMING FOYER
• LARGE LIVING ROOM
• COZY WOOD BURNING FIREPLACE
• HARDWOOD FLOORS
• FORMAL DINING ROOM
• TRADITIONAL BUILT-INS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $788 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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: 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; 24 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• This rent runs 44% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $110k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.78% ✓
• Cap rate: 14.89%
• Cash-on-cash: 30.71%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

• ARV (median comp): $224,544
• List price: $109,900
• Delta: -51.06%
• 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
33 Davis St	0.15mi	3/2.0 (-1)	1,550 (-2%)	13mo	$231,000	$149	70
71 Rotary Ave	0.45mi	3/1.5 (-1)	1,606 (+1%)	9mo	$169,000	$105	62
78 Chestnut St	0.18mi	3/2.0 (-1)	1,445 (-9%)	8mo	$265,000	$183	62
31 Lincoln Ave	0.12mi	3/2.5 (-1)	1,416 (-11%)	7mo	$236,000	$167	60
56 Lathrop Ave	0.25mi	3/1.5 (-1)	1,752 (+11%)	6mo	$207,000	$118	58
4 Millard Ave	0.20mi	3/1.0 (-1)	1,782 (+12%)	8mo	$210,000	$118	58
48 Davis St	0.23mi	3/1.5 (-1)	1,750 (+10%)	11mo	$260,000	$149	56
11 Helen St	0.62mi	3/1.5 (-1)	1,544 (-2%)	6mo	$245,000	$159	55
12 Schubert St	0.39mi	3/1.5 (-1)	1,688 (+7%)	11mo	$170,000	$101	55
53 Thorp St	0.55mi	3/1.5 (-1)	1,445 (-9%)	8mo	$135,000	$93	46
14 Hallam St	0.71mi	3/1.5 (-1)	1,452 (-8%)	9mo	$175,000	$121	38
6 Aberystwyth Pl	0.73mi	3/1.5 (-1)	1,416 (-11%)	4mo	$166,000	$117	38

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: 31.0%
• Equity multiple: 2.39×
• Total profit: $42,734
• Equity at exit: $16,386

10-year hold

• IRR: 40.9%
• Equity multiple: 5.84×
• Total profit: $149,030
• Equity at exit: $9,502

Cash invested: $30,772 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,958 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $788

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 55%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	44d	1	0.06mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	44d	1	0.15mi
5 Arthur St Unit 1 Binghamton, NY	5.0	2.0	1200	$2,250	$1.88	44d	1	0.20mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	44d	1	0.20mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	44d	1	0.20mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	13d	1	0.22mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	44d	1	0.39mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	44d	1	0.53mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	44d	1	0.53mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	44d	1	0.56mi
36 Haendel St Unit Second Floor Binghamton, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.62mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	44d	1	0.62mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	44d	1	0.64mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	0.65mi
99 Helen St Unit 2 Binghamton, NY	3.0	1.0	1220	$1,600	$1.31	44d	1	0.74mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	44d	1	0.83mi
133 Crestmont Rd Unit 2 Binghamton, NY	3.0	1.0	1300	$1,900	$1.46	44d	1	1.00mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	44d	1	1.02mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	44d	1	1.04mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	13d	1	1.10mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	1.13mi
296 Main St Unit 6 Binghamton, NY	3.0	1.0	1200	$1,250	$1.04	13d	1	1.14mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	1.15mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	13d	1	1.30mi

Listing history 6 events

1. 2026-05-09
   status Pending 930-char remark

   Show marketing remark (930 chars)

   Here is a great opportunity to purchase a classic West Side home at an affordable price! The 1st floor has a welcoming foyer that opens to a large living room with a cozy wood burning fireplace. There is a separate room that can be used as a family room or an office. The hardwood floors add warmth & character throughout. Off the kitchen, there is a formal dining room with traditional built-ins. Upstairs you will find 4 good sized bedrooms all with hardwood floors & a full bathroom that has been updated & features a large walk-in shower. Updates include vinyl windows, furnace with central air, on-demand water heater, & roof. Out back, enjoy the private backyard & fenced patio area perfect for enjoying the outdoors. There is a large detached 2 car garage with plenty of room for additional storage. Bring your ideas & finishing touches to this charming & affordable West Side home!

2. 2026-05-07
   price $109,900 930-char remark

   Show marketing remark (930 chars)

   Here is a great opportunity to purchase a classic West Side home at an affordable price! The 1st floor has a welcoming foyer that opens to a large living room with a cozy wood burning fireplace. There is a separate room that can be used as a family room or an office. The hardwood floors add warmth & character throughout. Off the kitchen, there is a formal dining room with traditional built-ins. Upstairs you will find 4 good sized bedrooms all with hardwood floors & a full bathroom that has been updated & features a large walk-in shower. Updates include vinyl windows, furnace with central air, on-demand water heater, & roof. Out back, enjoy the private backyard & fenced patio area perfect for enjoying the outdoors. There is a large detached 2 car garage with plenty of room for additional storage. Bring your ideas & finishing touches to this charming & affordable West Side home!

3. 2026-04-18
   price $119,900 930-char remark

   Show marketing remark (930 chars)

   Here is a great opportunity to purchase a classic West Side home at an affordable price! The 1st floor has a welcoming foyer that opens to a large living room with a cozy wood burning fireplace. There is a separate room that can be used as a family room or an office. The hardwood floors add warmth & character throughout. Off the kitchen, there is a formal dining room with traditional built-ins. Upstairs you will find 4 good sized bedrooms all with hardwood floors & a full bathroom that has been updated & features a large walk-in shower. Updates include vinyl windows, furnace with central air, on-demand water heater, & roof. Out back, enjoy the private backyard & fenced patio area perfect for enjoying the outdoors. There is a large detached 2 car garage with plenty of room for additional storage. Bring your ideas & finishing touches to this charming & affordable West Side home!

4. 2026-03-31
   listed $134,900 Active 930-char remark

   Show marketing remark (930 chars)

   Here is a great opportunity to purchase a classic West Side home at an affordable price! The 1st floor has a welcoming foyer that opens to a large living room with a cozy wood burning fireplace. There is a separate room that can be used as a family room or an office. The hardwood floors add warmth & character throughout. Off the kitchen, there is a formal dining room with traditional built-ins. Upstairs you will find 4 good sized bedrooms all with hardwood floors & a full bathroom that has been updated & features a large walk-in shower. Updates include vinyl windows, furnace with central air, on-demand water heater, & roof. Out back, enjoy the private backyard & fenced patio area perfect for enjoying the outdoors. There is a large detached 2 car garage with plenty of room for additional storage. Bring your ideas & finishing touches to this charming & affordable West Side home!

5. 2025-07-23
   listed $139,000 Active
6. 2000-10-12
   soldstatus $40,000

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 16 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: $23,500
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,880
• − Management: −$1,880
• − Depreciation: −$3,197
• Taxable income: $8,189
• Est. tax owed @ 24.0%: −$1,965
• After-tax cash flow: $7,486/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

+174.8% since first listed

6 events — show timeline

• 2026-05-09 Pending — GBAOR
• 2026-05-07 Price Changed $109,900 GBAOR
• 2026-04-18 Price Changed $119,900 GBAOR
• 2026-03-31 Listed $134,900 GBAOR
• 2025-07-23 Listed $139,000 GBAOR
• 2000-10-12 Sold (Public Records) $40,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $6,930 · +0.9% YoY. Source: county tax records.