4 Jarvis St · Binghamton, NY 13905

$299,000

6 bd · 2.0 ba · 2,448 sqft · MultiFamily public records · 305 Days on market

Built 1910 4,100 sqft lot $122/sqft · 19% above area Est $251k · 19% over

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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 +25.7/30.0
• DSCR +8.6/10.0
• 1% rule +7.4/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Binghamton nice 2 family house; Updates includes: installed new windows for the units; updated new vinyl plank flooring, new kitchen, new paint in both apts. , installed new electric heating in front large rooms; new electronic locks in all units; replace one water tank; new washer, new dryer and laundry system in basement; new painted exterior hall; repair front porch and siding; basement wall water treatment; cut trees around house, landscaping work. , fence yard, covered front porches; near Main St. ; walk to downtown restaurants, McDonald, Wendy, Popeyes, near Recreation Park, near Bus line to BU campus; live in one unit and rent another. Great investment opportunity.

Key facts

• New electric heating
• New kitchen
• New paint

Tags

• NEW WINDOWS
• VINYL PLANK FLOORING
• NEW KITCHEN
• NEW PAINT
• NEW ELECTRIC HEATING
• NEW ELECTRONIC LOCKS

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $717 ($9k/yr) — positive. Per door: $359/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: Binghamton High School (math 71% / reading 79%, grade A-, #631 of 1,100 statewide, top 58%, 1,341 students, 69% FRL).
• Zoned-school proficiency averages 75% at this address vs 37% district-wide (+38 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: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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

• 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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 305 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $31k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $299k implies a 99% 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 $263,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 305 days. Have you received any prior offers? Is the seller open to a 12% 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 1910 — 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: 1.24% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.28%
• DSCR: 1.46
• GRM: 6.7

CMA / ARV

• ARV (median comp): $251,408
• List price: $299,000
• Delta: 18.93%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Laurel Ave	0.16mi	6/3.0	2,400 (-2%)	7mo	$175,000	$73	80
3 Mozart St	0.31mi	6/2.0	2,384 (-3%)	4mo	$120,000	$50	78
200 Murray St	0.60mi	6/2.0	2,442 (-0%)	8mo	$92,500	$38	65
17 Haendel St	0.22mi	5/2.0 (-1)	2,154 (-12%)	0mo	$245,000	$114	64
26 Chestnut St	0.63mi	6/2.0	2,336 (-5%)	11mo	$237,000	$101	54
20 Elm St	0.64mi	6/2.0	2,304 (-6%)	8mo	$171,000	$74	54
36 Orton Ave	0.40mi	6/2.0	2,744 (+12%)	10mo	$115,000	$42	53
133 Crestmont Rd	0.65mi	6/2.0	2,202 (-10%)	5mo	$235,000	$107	48
59-59 1/2 Bennett Ave	0.67mi	6/2.0	2,160 (-12%)	3mo	$235,000	$109	46
32 Grand Blvd	0.51mi	6/3.0	2,752 (+12%)	9mo	$250,000	$91	44
198 Chapin St	0.44mi	5/3.0 (-1)	2,146 (-12%)	8mo	$193,000	$90	43
198 Chapin St #2	0.44mi	5/3.0 (-1)	2,145 (-12%)	8mo	$193,000	$90	43

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: 4.9%
• Equity multiple: 1.20×
• Total profit: $16,963
• Equity at exit: $44,582

10-year hold

• IRR: 18.7%
• Equity multiple: 2.95×
• Total profit: $163,306
• Equity at exit: $25,852

Cash invested: $83,720 (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: 13.5×

Monthly cashflow live

• Estimated rent: $3,705 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$517 /mo · $6,204/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$778
• Net cashflow: $717

Break-even live

Break-even rent $2,797

Max offer price $299,000

Occupancy floor 76%

Sensitivity live

Price	-10% $887	-5% $802	+0% $717	+5% $633	+10% $548
Rent	-10% $425	-5% $571	+0% $717	+5% $864	+10% $1,010
Rate	-1.0pp $868	-0.5pp $793	base $717	+0.5pp $640	+1.0pp $561

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$3,704
Total (2 units)			$3,705

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Edwards St Binghamton, NY	7.0	3.0	2989	$600	$0.20	45d	1	0.17mi
16 Highland Ave Unit 2 Binghamton, NY	6.0	1.0	2000	$2,750	$1.38	45d	1	0.44mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	45d	1	0.49mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	45d	1	0.53mi
2 Chapel Pl Binghamton, NY	6.0	3.0	2600	$650	$0.25	45d	1	0.56mi
44 Leroy St Binghamton, NY	6.0	2.0	1772	$3,000	$1.69	22d	1	0.58mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	15d	1	1.36mi

Listing history 21 events

1. 2026-06-15
   days on market $299,000 Active 305 DOM
2. 2026-06-14
   days on market $299,000 Active 303 DOM
3. 2026-06-13
   days on market $299,000 Active 302 DOM
4. 2026-06-10
   days on market $299,000 Active 300 DOM
5. 2026-06-09
   days on market $299,000 Active 299 DOM
6. 2026-06-08
   days on market $299,000 Active 298 DOM
7. 2026-06-07
   days on market $299,000 Active 297 DOM
8. 2026-06-03
   days on market $299,000 Active 293 DOM
9. 2026-06-02
   days on market $299,000 Active 292 DOM
10. 2026-06-01
    days on market $299,000 Active 291 DOM
11. 2026-05-31
    days on market $299,000 Active 290 DOM
12. 2026-05-30
    days on market $299,000 Active 289 DOM
13. 2026-04-21
    price $320,000 680-char remark

    Show marketing remark (680 chars)

    Binghamton nice 2 family house; Updates includes: installed new windows for the units; updated new vinyl plank flooring, new kitchen, new paint in both apts. , installed new electric heating in front large rooms; new electronic locks in all units; replace one water tank; new washer, new dryer and laundry system in basement; new painted exterior hall; repair front porch and siding; basement wall water treatment; cut trees around house, landscaping work. , fence yard, covered front porches; near Main St. ; walk to downtown restaurants, McDonald, Wendy, Popeyes, near Recreation Park, near Bus line to BU campus; live in one unit and rent another. Great investment opportunity.

14. 2025-08-13
    listed $330,000 Active 680-char remark

    Show marketing remark (680 chars)

    Binghamton nice 2 family house; Updates includes: installed new windows for the units; updated new vinyl plank flooring, new kitchen, new paint in both apts. , installed new electric heating in front large rooms; new electronic locks in all units; replace one water tank; new washer, new dryer and laundry system in basement; new painted exterior hall; repair front porch and siding; basement wall water treatment; cut trees around house, landscaping work. , fence yard, covered front porches; near Main St. ; walk to downtown restaurants, McDonald, Wendy, Popeyes, near Recreation Park, near Bus line to BU campus; live in one unit and rent another. Great investment opportunity.

15. 2025-08-08
    status Active
16. 2025-06-26
    status Active
17. 2025-05-17
    listed $330,000 Active
18. 2024-02-15
    soldstatus $150,000 Closed
19. 2023-10-21
    status Pending
20. 2023-10-09
    listed $165,000 Active
21. 2011-02-23
    soldstatus $90,000

ⓘ 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: $6,204 · $517/mo
• Projected year-2 tax: $6,204 · $517/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 · 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: $44,460
• − Mortgage interest: −$16,749
• − Property taxes: −$6,204
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,557
• − Management: −$3,557
• − Depreciation: −$8,698
• Taxable income: $4,201
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $7,600/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

+255.6% since first listed

9 events — show timeline

• 2026-04-21 Price Changed $320,000 GBAOR
• 2025-08-13 Listed $330,000 GBAOR
• 2025-08-08 Relisted — GBAOR
• 2025-06-26 Relisted — GBAOR
• 2025-05-17 Listed $330,000 GBAOR
• 2024-02-15 Sold (MLS) $150,000 GBAOR
• 2023-10-21 Pending — GBAOR
• 2023-10-09 Listed $165,000 GBAOR
• 2011-02-23 Sold (Public Records) $90,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $6,204 · +0.9% YoY. Source: county tax records.