41-43 Broome St · Binghamton, NY 13903

$230,000

6 bd · 3.0 ba · 2,912 sqft · MultiFamily · 45 Days on market

Built 1920 Fair condition 5,662 sqft lot $79/sqft · 24% below area Est $301k · 24% under

---

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 +26.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.7/10.0
• 1% rule +6.9/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Large two family duplex in quiet neighborhood, close to a public park with a pool! Each side has 3 bedrooms and one full bath. Separate entrances with large front and back porches, level fenced yard. BOTH apartments have finished attics and separate basements. 41 Broome has a driveway and newer appliances, 43 Broome has an additional half bath and updated kitchen. Separate utility boxes, furnaces serviced yearly. This would make a great owner occupy or addition to an investment portfolio. OCCUPIED, paying tenants, month to month lease. * Some pictures provided by seller are from BEFORE the property was rented *

Key facts

• Newly installed roof
• 5,662 sq ft lot
• Built 1920

Tags

• SPACIOUS 3 BEDROOM LAYOUT
• BRAND NEW VINYL FLOORING
• NEWLY INSTALLED ROOF

Property features AI

Finance

• Other: Lot is level (approx. 50 x 110)
• Financial info: Unit rents: one unit at $1,250/month and one unit at $1,200/month

Exterior

• Parking: No designated parking listed
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Duplex; Residential income property
• Construction: Vinyl siding
• Exterior features: Covered porch

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms and one half bathroom (total for building)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Gas water heater; Basement
• Laundry & utility: Washer/dryer not listed

🏷️ Possibly a rental listed for sale. The $230,000 price doesn't fit this home's estimated sale value (~$300,729) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $230k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive. Per door: $257/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $223k (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: Benjamin Franklin Elementary School (math 17% / reading 32%, grade F, #1,846 of 2,108 statewide, top 91%, 399 students, 75% FRL).
• Zoned-school proficiency averages 24% at this address vs 37% district-wide (-12 pts) — the specific schools serving this property underperform the Binghamton City School District average; the district grade overstates school quality for this exact location.
• Market conditions: 112 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $25k of equity ($2k loan paydown + $23k 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 $64k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $154k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $223,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.19% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.61%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $300,729
• List price: $230,000
• Delta: -23.52%
• 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
17 Tompkins St	0.13mi	6/2.0	3,068 (+5%)	20mo	$175,000	$57	64
10 Oliver St	0.49mi	6/3.0	3,110 (+7%)	3mo	$65,000	$21	63
196 Hawley St	0.38mi	6/2.0	2,984 (+2%)	15mo	$127,000	$43	62
93 Pine St	0.44mi	5/2.5 (-1)	3,040 (+4%)	6mo	$120,000	$39	60
233 Conklin Ave	0.25mi	6/2.0	2,576 (-12%)	9mo	$163,000	$63	57
16 Ely St	0.54mi	6/2.0	2,800 (-4%)	10mo	$75,000	$27	56
14 Wales Ave	0.60mi	6/2.0	2,654 (-9%)	1mo	$108,000	$41	52
54 & 56 Griswold St	0.75mi	6/2.0	3,048 (+5%)	3mo	$216,000	$71	51
114 Conklin Ave	0.65mi	5/4.0 (-1)	2,822 (-3%)	10mo	$176,000	$62	47
23 Robinson St	0.72mi	7/4.0 (+1)	2,612 (-10%)	3mo	$90,000	$34	38
15 Carlton St	0.72mi	7/3.0 (+1)	3,247 (+12%)	12mo	$208,000	$64	32
33 Doubleday St #2	0.70mi	5/2.0 (-1)	2,727 (-6%)	20mo	$198,776	$73	31

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: 31.3%
• Equity multiple: 3.45×
• Total profit: $158,080
• Equity at exit: $207,202

10-year hold

• IRR: 27.1%
• Equity multiple: 7.83×
• Total profit: $439,922
• Equity at exit: $446,839

Cash invested: $64,400 (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: 112
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $2,733 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $514

Break-even live

Break-even rent $2,082

Max offer price $230,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,732
Total (2 units)			$2,733

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	0.78mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	43d	1	1.33mi
2 Chapel Pl Binghamton, NY	6.0	3.0	2600	$650	$0.25	43d	1	1.39mi

Listing history 22 events

1. 2026-06-19
   days on market $230,000 Active 45 DOM
2. 2026-06-18
   days on market $230,000 Active 44 DOM
3. 2026-06-17
   days on market $230,000 Active 43 DOM
4. 2026-06-16
   days on market $230,000 Active 42 DOM
5. 2026-06-15
   days on market $230,000 Active 41 DOM
6. 2026-06-14
   days on market $230,000 Active 39 DOM
7. 2026-06-13
   pricedays on market $230,000 Active 38 DOM
8. 2026-06-10
   days on market $240,000 Active 36 DOM
9. 2026-06-09
   days on market $240,000 Active 35 DOM
10. 2026-06-08
    days on market $240,000 Active 34 DOM
11. 2026-06-07
    days on market $240,000 Active 33 DOM
12. 2026-06-03
    days on market $240,000 Active 29 DOM
13. 2026-06-02
    days on market $240,000 Active 28 DOM
14. 2026-06-01
    days on market $240,000 Active 27 DOM
15. 2026-05-31
    days on market $240,000 Active 26 DOM
16. 2026-05-30
    days on market $240,000 Active 25 DOM
17. 2026-05-05
    listed $249,900 Active 662-char remark
18. 2024-12-19
    soldstatus $154,081 Closed 618-char remark

    Show marketing remark (618 chars)

    Large two family duplex in quiet neighborhood, close to a public park with a pool! Each side has 3 bedrooms and one full bath. Separate entrances with large front and back porches, level fenced yard. BOTH apartments have finished attics and separate basements. 41 Broome has a driveway and newer appliances, 43 Broome has an additional half bath and updated kitchen. Separate utility boxes, furnaces serviced yearly. This would make a great owner occupy or addition to an investment portfolio. OCCUPIED, paying tenants, month to month lease. * Some pictures provided by seller are from BEFORE the property was rented *

19. 2024-11-16
    status Pending 618-char remark

    Show marketing remark (618 chars)

    Large two family duplex in quiet neighborhood, close to a public park with a pool! Each side has 3 bedrooms and one full bath. Separate entrances with large front and back porches, level fenced yard. BOTH apartments have finished attics and separate basements. 41 Broome has a driveway and newer appliances, 43 Broome has an additional half bath and updated kitchen. Separate utility boxes, furnaces serviced yearly. This would make a great owner occupy or addition to an investment portfolio. OCCUPIED, paying tenants, month to month lease. * Some pictures provided by seller are from BEFORE the property was rented *

20. 2024-11-07
    listed $154,000 Active 618-char remark

    Show marketing remark (618 chars)

    Large two family duplex in quiet neighborhood, close to a public park with a pool! Each side has 3 bedrooms and one full bath. Separate entrances with large front and back porches, level fenced yard. BOTH apartments have finished attics and separate basements. 41 Broome has a driveway and newer appliances, 43 Broome has an additional half bath and updated kitchen. Separate utility boxes, furnaces serviced yearly. This would make a great owner occupy or addition to an investment portfolio. OCCUPIED, paying tenants, month to month lease. * Some pictures provided by seller are from BEFORE the property was rented *

21. 2022-07-28
    listed $119,000
22. 2018-08-27
    listed $89,900

ⓘ 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 9/10 Extreme FEMA zone X (shaded) · 99% 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 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: $32,796
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,816
• − Repairs & maintenance: −$2,624
• − Management: −$2,624
• − Depreciation: −$6,691
• Taxable income: $2,708
• Est. tax owed @ 24.0%: −$650
• After-tax cash flow: $5,519/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate renovations to improve its condition and appeal. The home is currently rented and offers immediate cash flow, but updating the interiors and adding modern touches will significantly increase its value.

Repairs flagged

• Moderate kitchen cabinets — Cabinets are cluttered and need organization
• Moderate bathroom fixtures — Fixtures need updating for a modern look
• Moderate flooring — Flooring in living areas needs replacement

Value-add opportunities

• Both Paint interior walls and update fixtures in bathrooms — Fresh paint and updated fixtures will enhance both resale and rental appeal
• Both Replace worn flooring in living areas — New flooring will improve the overall look and feel of the home
• Both Add modern kitchen appliances — Modern appliances will attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Cabinets are cluttered and need organization	Moderate	$3,000–15,000
bathroom fixtures · Fixtures need updating for a modern look	Moderate	$3,000–15,000
flooring · Flooring in living areas needs replacement	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both Paint interior walls and update fixtures in bathrooms — Fresh paint and updated fixtures will enhance both resale and rental appeal ↑
• Both Replace worn flooring in living areas — New flooring will improve the overall look and feel of the home ↑
• Both Add modern kitchen appliances — Modern appliances will attract more buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+155.8% since first listed

8 events — show timeline

• 2026-06-12 Price Changed $230,000 GBAOR
• 2026-05-27 Price Changed $240,000 GBAOR
• 2026-05-05 Listed $249,900 GBAOR
• 2024-12-19 Sold (MLS) $154,081 GBAOR
• 2024-11-16 Pending — GBAOR
• 2024-11-07 Listed $154,000 GBAOR
• 2022-07-28 Listed $119,000 GBAOR
• 2018-08-27 Listed $89,900 GBAOR