53 Hazel St · Binghamton, NY 13905

$230,000

3 bd · 3.0 ba · 3,390 sqft · MultiFamily public records · 11 Days on market

Built 1920 5,227 sqft lot Est $241k · at est.

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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 +9.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

THREE FAMILY. Good size rooms, elec update, exterior painted last year. infro on lead, two new hot water heaters, enclosed porch

Key facts

• 5,227 sq ft lot
• Built 1920
• Listed 10 days

Property features AI

Finance

• Other: Zoning: R2; Lot is level; Lot dimensions approximately 50 x 104; Above-grade finished area reported
• Financial info: Unit rents: $900 (2-bed unit), $850 (3-bed unit), $750 (1-bed unit)
• HOA & community: No HOA information provided

Exterior

• Parking: No parking
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Residential income property; Triplex
• Construction: Aluminum siding
• Exterior features: Covered patio

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two-bedroom unit; Three-bedroom unit; One-bedroom unit
• Flooring: Carpet; Vinyl
• Bathrooms: Three full bathrooms (total for property); One bathroom in each unit
• Heating & cooling: Forced air heating; Wall/window cooling units
• Interior features: Gas water heater; Carpet and vinyl flooring; Basement
• Laundry & utility: No laundry or utility appliance details provided

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $506/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Cap rate 14.5% 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: Woodrow Wilson School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 352 students, 76% FRL) — zoned schools average 76% FRL vs 61% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 37% district-wide (-20 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: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $7k 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 $64k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $65k; list at $230k implies a 254% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.82% ✓
• Cap rate: 14.51%
• Cash-on-cash: 29.33%
• DSCR: 2.31
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $240,690
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Julian St	0.21mi	4/1.0 (+1)	3,640 (+7%)	2mo	$260,000	$71	64
147 & 149 Clinton St	0.63mi	3/2.5	3,163 (-7%)	13mo	$130,000	$41	46
21 Floral Ave	0.66mi	3/5.0	3,120 (-8%)	17mo	$307,000	$98	34

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: 28.4%
• Equity multiple: 2.27×
• Total profit: $81,747
• Equity at exit: $34,294

10-year hold

• IRR: 38.9%
• Equity multiple: 5.61×
• Total profit: $297,096
• Equity at exit: $19,886

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 13905

• Home prices YoY: -31.1%
• Rents YoY: 11.2%
• Active inventory: 136
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $4,183 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$428 /mo · $5,140/yr
• Insurance: −$96
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$878
• Net cashflow: $1,519

Break-even live

Break-even rent $2,261

Max offer price $230,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,649	-5% $1,584	+0% $1,519	+5% $1,454	+10% $1,389
Rent	-10% $1,188	-5% $1,353	+0% $1,519	+5% $1,684	+10% $1,849
Rate	-1.0pp $1,635	-0.5pp $1,577	base $1,519	+0.5pp $1,459	+1.0pp $1,398

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,182
Total (3 units)			$4,183

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
74 Matthews St Binghamton, NY	3.0	2.0	2510	$2,300	$0.92	21d	1	0.83mi
57 Fowler Ave Johnson City, NY	3.0	2.5	2497	$2,000	$0.80	13d	1	1.28mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	44d	1	1.30mi

Listing history 10 events

1. 2026-06-19
   days on market $230,000 Active 11 DOM
2. 2026-06-18
   days on market $230,000 Active 10 DOM
3. 2026-06-17
   days on market $230,000 Active 9 DOM
4. 2026-06-16
   days on market $230,000 Active 8 DOM
5. 2026-06-15
   days on market $230,000 Active 7 DOM
6. 2026-06-14
   days on market $230,000 Active 5 DOM
7. 2026-06-13
   days on market $230,000 Active 4 DOM
8. 2026-06-10
   days on market $230,000 Active 2 DOM
9. 2026-06-09
   remarks 309-char remark
10. 2026-06-09
    listed $230,000 Active 1 DOM

ⓘ 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: $5,140 · $428/mo
• Projected year-2 tax: $5,140 · $428/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 8/10 Severe FEMA zone X (shaded) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°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: $50,196
• − Mortgage interest: −$12,884
• − Property taxes: −$5,140
• − Insurance: −$1,816
• − Repairs & maintenance: −$4,016
• − Management: −$4,016
• − Depreciation: −$6,691
• Taxable income: $15,633
• Est. tax owed @ 24.0%: −$3,752
• After-tax cash flow: $14,472/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

+187.9% since first listed

4 events — show timeline

• 2026-06-08 Listed $230,000 GBAOR
• 2020-11-23 Sold (MLS) $65,000 GBAOR
• 2019-10-21 Listed $69,900 GBAOR
• 2019-09-12 Listed $79,900 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $5,140 · +0.9% YoY. Source: county tax records.