6 Stone St · Binghamton, NY 13903

$190,000

5 bd · 2.0 ba · 2,778 sqft · MultiFamily public records · 52 Days on market

Built 1900 4,791 sqft lot $68/sqft · 37% below area Est $302k · 37% 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: 2 units. confirmed

Listing remarks MLS

Come see this great 2 family with 3 bedrooms each unit - spacious rooms, 2nd floor A/C & washer/dryer. 1st floor washer/dryer in basement. Many improvements/ Replacement windows 10 yrs/ H2O tank 2 yrs/ Furnace 7 yrs/ Roof 10yrs/ Siding 3yrs. Separate utilities. New condenser in A/C 3yrs/ Off street parking for 4+ cars. Excellent for owner occupy or investment.

Key facts

• Immediate cash flow
• Recent updates
• 4,791 sq ft lot

Tags

• TWO FAMILY INVESTMENT
• SPACIOUS THREE BEDROOM UNITS
• IMMEDIATE CASH FLOW
• RECENT UPDATES
• REFINISHED HARDWOOD FLOORS

Property features AI

Finance

• Financial info: Rental income: one unit at $1,200/month and one unit at $1,600/month

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex (residential income); Above-grade finished living space
• Construction: Vinyl siding; Block foundation
• Exterior features: Level lot; Shed(s)

Interior

• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; Central air; Wall/window AC units
• Interior features: Insulated windows; Gas water heater; Has basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $954 ($11k/yr) — positive. Per door: $477/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.

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: 113 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 $20k of equity ($1k loan paydown + $19k 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 $53k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $100k; list at $190k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.66% ✓
• Cap rate: 12.32%
• Cash-on-cash: 21.52%
• DSCR: 1.96
• GRM: 5.0

CMA / ARV

• ARV (median comp): $302,471
• List price: $190,000
• Delta: -37.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
60 Mary St	0.06mi	6/3.0 (+1)	2,632 (-5%)	3mo	$252,128	$96	77
17 Mitchell Ave	0.05mi	6/2.5 (+1)	2,628 (-5%)	23mo	$185,000	$70	62
19 Mcnamara Ave	0.48mi	5/2.0	2,688 (-3%)	13mo	$200,000	$74	62
129 Pennsylvania Ave	0.49mi	6/3.0 (+1)	2,742 (-1%)	6mo	$175,000	$64	61
5 Mill St	0.46mi	6/2.0 (+1)	2,485 (-10%)	1mo	$220,000	$89	55
114 Conklin Ave	0.58mi	5/4.0	2,822 (+2%)	10mo	$176,000	$62	54
51 Murray St	0.68mi	6/2.0 (+1)	2,970 (+7%)	6mo	$160,000	$54	47
62 Conklin Ave	0.37mi	6/5.0 (+1)	2,520 (-9%)	16mo	$250,000	$99	37
33 Oak St	0.62mi	5/4.0	3,044 (+10%)	21mo	$330,000	$108	30
34 Oak St	0.59mi	4/2.0 (-1)	2,380 (-14%)	23mo	$272,000	$114	24

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: 40.4%
• Equity multiple: 4.09×
• Total profit: $164,428
• Equity at exit: $171,167

10-year hold

• IRR: 34.9%
• Equity multiple: 9.21×
• Total profit: $436,787
• Equity at exit: $369,128

Cash invested: $53,200 (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: 113
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $3,146 high
• Mortgage (P&I): −$996
• Tax from tax record: −$456 /mo · $5,468/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $954

Break-even live

Break-even rent $1,938

Max offer price $190,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,062	-5% $1,008	+0% $954	+5% $900	+10% $847
Rent	-10% $706	-5% $830	+0% $954	+5% $1,078	+10% $1,203
Rate	-1.0pp $1,050	-0.5pp $1,002	base $954	+0.5pp $905	+1.0pp $855

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,146
Total (2 units)			$3,146

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: $47,500
• Closing costs: $5,700
• 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	0.46mi
13 Chapin St Binghamton, NY	4.0	3.0	2452	$4,000	$1.63	46d	1	0.64mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	46d	1	0.75mi
2 Chapel Pl Binghamton, NY	6.0	3.0	2600	$650	$0.25	46d	1	0.78mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	46d	1	0.99mi

Listing history 23 events

1. 2026-06-23
   days on market $190,000 Active 52 DOM
2. 2026-06-21
   days on market $190,000 Active 51 DOM
3. 2026-06-19
   days on market $190,000 Active 49 DOM
4. 2026-06-18
   days on market $190,000 Active 48 DOM
5. 2026-06-17
   days on market $190,000 Active 47 DOM
6. 2026-06-16
   days on market $190,000 Active 46 DOM
7. 2026-06-15
   days on market $190,000 Active 45 DOM
8. 2026-06-14
   days on market $190,000 Active 43 DOM
9. 2026-06-13
   days on market $190,000 Active 42 DOM
10. 2026-06-10
    days on market $190,000 Active 40 DOM
11. 2026-06-09
    days on market $190,000 Active 39 DOM
12. 2026-06-08
    days on market $190,000 Active 38 DOM
13. 2026-06-07
    days on market $190,000 Active 37 DOM
14. 2026-06-03
    days on market $190,000 Active 33 DOM
15. 2026-06-02
    days on market $190,000 Active 32 DOM
16. 2026-06-01
    days on market $190,000 Active 31 DOM
17. 2026-05-31
    days on market $190,000 Active 30 DOM
18. 2026-05-30
    days on market $190,000 Active 29 DOM
19. 2026-05-04
    status Active 912-char remark
20. 2026-04-27
    listed $190,000 Active 912-char remark
21. 2022-01-12
    soldstatus $100,000
22. 2021-12-28
    soldstatus $100,000 368-char remark

    Show marketing remark (368 chars)

    Come see this great 2 family with 3 bedrooms each unit - spacious rooms, 2nd floor A/C & washer/dryer. 1st floor washer/dryer in basement. Many improvements/ Replacement windows 10 yrs/ H2O tank 2 yrs/ Furnace 7 yrs/ Roof 10yrs/ Siding 3yrs. Separate utilities. New condenser in A/C 3yrs/ Off street parking for 4+ cars. Excellent for owner occupy or investment.

23. 2021-08-10
    listed $115,900 368-char remark

    Show marketing remark (368 chars)

    Come see this great 2 family with 3 bedrooms each unit - spacious rooms, 2nd floor A/C & washer/dryer. 1st floor washer/dryer in basement. Many improvements/ Replacement windows 10 yrs/ H2O tank 2 yrs/ Furnace 7 yrs/ Roof 10yrs/ Siding 3yrs. Separate utilities. New condenser in A/C 3yrs/ Off street parking for 4+ cars. Excellent for owner occupy or investment.

ⓘ 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: $5,468 · $456/mo
• Projected year-2 tax: $5,468 · $456/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 3/10 Moderate FEMA zone X · 13% 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 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: $37,752
• − Mortgage interest: −$10,643
• − Property taxes: −$5,468
• − Insurance: −$950
• − Repairs & maintenance: −$3,020
• − Management: −$3,020
• − Depreciation: −$5,527
• Taxable income: $9,123
• Est. tax owed @ 24.0%: −$2,190
• After-tax cash flow: $9,260/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

+63.9% since first listed

5 events — show timeline

• 2026-05-04 Relisted — GBAOR
• 2026-04-27 Listed $190,000 GBAOR
• 2022-01-12 Sold (Public Records) $100,000 Public Records
• 2021-12-28 Sold (MLS) $100,000 GBAOR
• 2021-08-10 Listed $115,900 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $5,468 · +0.9% YoY. Source: county tax records.