86 Oak St · Binghamton, NY 13905

$599,999

14 bd · 0.0 ba · 7,704 sqft · MultiFamily public records · 100 Days on market

Built 1970 5,227 sqft lot $78/sqft · 11% above area Est $406k · 48% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Offered for sale is an 8-unit multifamily property located in a highly desirable Binghamton location with strong value-add potential. The building currently includes 7 built-out units totaling an impressive 17 beds, plus an additional framed-out basement unit that may provide an opportunity to increase the unit and bed count, subject to municipal approvals. The property is well positioned to serve Binghamton’s student housing market, as well as renters seeking convenient access to Downtown Binghamton, nearby bus lines, restaurants, shops, and amenities. Additional features include on-site laundry, off-street parking, and separate electric meters. The City of Binghamton previously explored acquiring the property through eminent domain but did not proceed; however, investors should be aware that similar municipal interest could potentially arise in the future.

Key facts

• Major bus lines
• 7 unit building
• 51 frontage

Tags

• 7 UNIT BUILDING
• 8TH UNIT VALUE-ADD UPSIDE
• MAJOR BUS LINES
• 51 FRONTAGE
• RARE OFF-STREET PARKING
• LEGAL R-3 ZONING

What this means for you Summary

Snapshot

• This is a 7 × 2-bed/?-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $567/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $600k).
• Recommended offer: $546k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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: 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; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $10,543/mo this rent would consume 237% 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 $4k of loan paydown is wiped out by about $18k 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 $168k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($546k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask is 9% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $400k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $545,999 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 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 1970 — 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: 1.76% ✓
• Cap rate: 14.23%
• Cash-on-cash: 28.35%
• DSCR: 2.26
• GRM: 4.7

CMA / ARV

• ARV (median comp): $406,185
• List price: $599,999
• Delta: 47.72%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 2.26×
• Total profit: $211,565
• Equity at exit: $89,462

10-year hold

• IRR: 38.6%
• Equity multiple: 5.55×
• Total profit: $764,498
• Equity at exit: $51,877

Cash invested: $168,000 (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: 33.2×

Monthly cashflow live

• Estimated rent: $10,543 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$964 /mo · $11,563/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,214
• Net cashflow: $3,969

Break-even live

Break-even rent $5,519

Max offer price $599,999

Occupancy floor 57%

Sensitivity live

Price	-10% $4,309	-5% $4,139	+0% $3,969	+5% $3,799	+10% $3,629
Rent	-10% $3,136	-5% $3,552	+0% $3,969	+5% $4,385	+10% $4,802
Rate	-1.0pp $4,271	-0.5pp $4,122	base $3,969	+0.5pp $3,813	+1.0pp $3,655

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

Units	Beds	Baths	Est. rent
▸ 7× units	2	—	$10,542
Total (7 units)			$10,543

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $599,999 Active 100 DOM
2. 2026-06-19
   days on market $599,999 Active 98 DOM
3. 2026-06-18
   days on market $599,999 Active 97 DOM
4. 2026-06-17
   days on market $599,999 Active 96 DOM
5. 2026-06-16
   days on market $599,999 Active 95 DOM
6. 2026-06-15
   days on market $599,999 Active 94 DOM
7. 2026-06-14
   days on market $599,999 Active 92 DOM
8. 2026-06-13
   days on market $599,999 Active 91 DOM
9. 2026-06-10
   days on market $599,999 Active 89 DOM
10. 2026-06-09
    days on market $599,999 Active 88 DOM
11. 2026-06-08
    days on market $599,999 Active 87 DOM
12. 2026-06-07
    days on market $599,999 Active 86 DOM
13. 2026-06-03
    days on market $599,999 Active 82 DOM
14. 2026-06-02
    days on market $599,999 Active 81 DOM
15. 2026-06-01
    days on market $599,999 Active 80 DOM
16. 2026-05-31
    days on market $599,999 Active 79 DOM
17. 2026-05-30
    days on market $599,999 Active 78 DOM
18. 2026-05-16
    listed $550,000 Active 876-char remark

    Show marketing remark (876 chars)

    Offered for sale is an 8-unit multifamily property located in a highly desirable Binghamton location with strong value-add potential. The building currently includes 7 built-out units totaling an impressive 17 beds, plus an additional framed-out basement unit that may provide an opportunity to increase the unit and bed count, subject to municipal approvals. The property is well positioned to serve Binghamton’s student housing market, as well as renters seeking convenient access to Downtown Binghamton, nearby bus lines, restaurants, shops, and amenities. Additional features include on-site laundry, off-street parking, and separate electric meters. The City of Binghamton previously explored acquiring the property through eminent domain but did not proceed; however, investors should be aware that similar municipal interest could potentially arise in the future.

19. 2026-04-30
    price $599,999 1104-char remark

    Show marketing remark (1104 chars)

    MAJOR PRICE REDUCTION | ~17.4% PRO-FORMA CAP RATE | VALUE-ADD 7 UNIT + 8TH UNIT UPSIDE 86 Oak St Priced to sell at $599,999, this property presents a high-upside multifamily opportunity in the core student housing corridor of Binghamton. Previously offered at a higher valuation, the asset has been repositioned for immediate sale. Investment Highlights ~17.4% Pro-Forma Cap Rate Based on projected NOI of $104,397 upon full stabilization Multiple Upside Paths Even without bringing the 8th unit online, projected NOI remains approximately $92,397, offering strong returns through operational improvements and market alignment over time 7 Units + 8th Unit Value-Add Existing 7-unit configuration with additional 1-bedroom basement unit requiring full renovation prior to lease-up Strong Rental Location Positioned along major bus lines with easy access to downtown and key student demand drivers Off-Street Parking + 51’ Frontage Desirable amenity that enhances tenant appeal and retention R-3 Zoning (Multifamily Compliant) Supports current use and long-term investment stability

20. 2026-03-13
    listed $699,990 Active 1104-char remark

    Show marketing remark (1104 chars)

    MAJOR PRICE REDUCTION | ~17.4% PRO-FORMA CAP RATE | VALUE-ADD 7 UNIT + 8TH UNIT UPSIDE 86 Oak St Priced to sell at $599,999, this property presents a high-upside multifamily opportunity in the core student housing corridor of Binghamton. Previously offered at a higher valuation, the asset has been repositioned for immediate sale. Investment Highlights ~17.4% Pro-Forma Cap Rate Based on projected NOI of $104,397 upon full stabilization Multiple Upside Paths Even without bringing the 8th unit online, projected NOI remains approximately $92,397, offering strong returns through operational improvements and market alignment over time 7 Units + 8th Unit Value-Add Existing 7-unit configuration with additional 1-bedroom basement unit requiring full renovation prior to lease-up Strong Rental Location Positioned along major bus lines with easy access to downtown and key student demand drivers Off-Street Parking + 51’ Frontage Desirable amenity that enhances tenant appeal and retention R-3 Zoning (Multifamily Compliant) Supports current use and long-term investment stability

21. 2022-03-20
    price $400
22. 2019-02-15
    listed $879,000
23. 2017-09-14
    soldstatus $400,000
24. 2006-03-20
    soldstatus $130,000

ⓘ 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: $11,563 · $964/mo
• Projected year-2 tax: $11,563 · $964/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 5/10 Major FEMA zone X · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $126,516
• − Mortgage interest: −$33,609
• − Property taxes: −$11,563
• − Insurance: −$3,000
• − Repairs & maintenance: −$10,121
• − Management: −$10,121
• − Depreciation: −$17,455
• Taxable income: $40,647
• Est. tax owed @ 24.0%: −$9,755
• After-tax cash flow: $37,872/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

+323.1% since first listed

7 events — show timeline

• 2026-05-16 Listed $550,000 GBAOR
• 2026-04-30 Price Changed $599,999 UNYREIS
• 2026-03-13 Listed $699,990 UNYREIS
• 2022-03-20 Price Changed $400 RENT.
• 2019-02-15 Listed $879,000 GBAOR
• 2017-09-14 Sold (Public Records) $400,000 Public Records
• 2006-03-20 Sold (Public Records) $130,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $11,563 · +0.9% YoY. Source: county tax records.