48 James St · Binghamton, NY 13903

$185,000

3 bd · 1.0 ba · 1,582 sqft · SingleFamily public records · 16 Days on market

Built 1900 6,098 sqft lot Est $191k · at est.

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• ARV discount +9.0/15.0
• Cash flow +4.9/30.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

Great opportunity to own a 3 bedroom/1.5 bath home with a 1 bedroom garage apartment. So many options here! Live in the main home and rent out the apartment for additional income or utilize the apartment as an office, studio, storage, or whatever you'd like! Main home has hardwood floors throughout. Updated kitchen, large dining room, living room and half bath on first floor. Second floor has 3 bedrooms, an updated full bathroom and a small bonus room. Enclosed porch off the main home dining room. Open deck off great room of apartment. 2 car detached garage and plenty of off-street parking. Easily maintained yard. Don't miss out on this great home with additional money-making opportunities!

Key facts

• Large dining room
• Open deck
• Updated kitchen

Tags

• HARDWOOD FLOORS
• UPDATED KITCHEN
• LARGE DINING ROOM
• UPDATED FULL BATHROOM
• ENCLOSED PORCH
• OPEN DECK

Property features AI

Exterior

• Parking: Detached garage with 2 parking spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Two levels
• Construction: Wood siding construction
• Exterior features: Covered, enclosed porch; Deck

Interior

• Kitchen: Range; Free‑standing range; Oven; Refrigerator; Dishwasher
• Bedrooms: Total rooms indicate multiple bedrooms (13 total rooms)
• Flooring: Hardwood; Tile
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating; Ceiling fans
• Interior features: Wood-burning gas fireplace in the living room; Basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-503 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (10.8% below list).
• Recommended offer: $165k (10.8% below list) — sets the bar for 1% rule.
• Cap rate 3.4% vs local median 6.4% in Binghamton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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) — zoned schools at 62% FRL track the district average.
• Market conditions: 112 active listings in the ZIP; 18 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 $20k of equity ($1k loan paydown + $18k 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.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $79k; list at $185k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,077 (10.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 3.39%
• Cash-on-cash: -10.36%
• DSCR: 0.54
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $191,422
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Phinn Ave	0.21mi	3/1.5	1,485 (-6%)	8mo	$200,000	$135	71
18 Kress St	0.51mi	3/1.0	1,620 (+2%)	2mo	$105,000	$65	71
13 Clarence St	0.25mi	3/2.0	1,516 (-4%)	8mo	$195,000	$129	70
18 Esther Ave	0.28mi	4/2.0 (+1)	1,536 (-3%)	5mo	$130,000	$85	69
25 Duane Ave	0.07mi	4/1.5 (+1)	1,740 (+10%)	8mo	$170,000	$98	67
50 Tremont Ave	0.21mi	4/1.5 (+1)	1,725 (+9%)	4mo	$175,000	$101	64
14 Mcnamara Ave	0.30mi	4/1.5 (+1)	1,463 (-8%)	8mo	$170,000	$116	60
14 Allendale Rd	0.61mi	3/2.5	1,643 (+4%)	1mo	$280,000	$170	58
103 S Washington St	0.24mi	3/2.0	1,384 (-12%)	8mo	$167,500	$121	57
17 Sherwood Ave	0.44mi	3/1.5	1,356 (-14%)	2mo	$176,768	$130	52
20 Earle Dr	0.64mi	3/2.0	1,412 (-11%)	2mo	$245,000	$174	47
158 Park Ave	0.67mi	3/1.5	1,352 (-14%)	6mo	$85,000	$63	37

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: 16.2%
• Equity multiple: 2.33×
• Total profit: $69,074
• Equity at exit: $166,663

10-year hold

• IRR: 15.6%
• Equity multiple: 5.43×
• Total profit: $229,296
• Equity at exit: $359,414

Cash invested: $51,800 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$970
• Tax from tax record: −$704 /mo · $8,451/yr
• Insurance: −$77
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $-503

Break-even live

Break-even rent $2,287

Max offer price $169,021

Occupancy floor —

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	13d	1	0.19mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	43d	1	0.29mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	13d	1	0.46mi
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	43d	1	0.47mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	43d	1	0.83mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	43d	1	0.91mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	13d	1	0.96mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	43d	1	1.18mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	43d	1	1.20mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	43d	1	1.21mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	20d	1	1.21mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	43d	1	1.23mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	43d	1	1.31mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	43d	1	1.31mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	43d	1	1.31mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	13d	1	1.38mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	20d	1	1.38mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	43d	1	1.48mi

Listing history 12 events

1. 2026-06-19
   days on market $185,000 Active 16 DOM
2. 2026-06-18
   days on market $185,000 Active 15 DOM
3. 2026-06-17
   days on market $185,000 Active 14 DOM
4. 2026-06-16
   days on market $185,000 Active 13 DOM
5. 2026-06-15
   days on market $185,000 Active 12 DOM
6. 2026-06-14
   days on market $185,000 Active 10 DOM
7. 2026-06-13
   days on market $185,000 Active 9 DOM
8. 2026-06-10
   days on market $185,000 Active 7 DOM
9. 2026-06-09
   days on market $185,000 Active 6 DOM
10. 2026-06-08
    days on market $185,000 Active 5 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $185,000 Active 4 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: $8,451 · $704/mo
• Projected year-2 tax: $8,451 · $704/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 7/10 Severe FEMA zone X · 76% 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 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: $19,809
• − Mortgage interest: −$10,363
• − Property taxes: −$8,451
• − Insurance: −$1,592
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − Depreciation: −$5,382
• Taxable loss: −$9,147
• Est. tax savings @ 24.0%: +$2,195
• After-tax cash flow: $-3,840/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

+134.5% since first listed

3 events — show timeline

• 2026-06-03 Listed $185,000 GBAOR
• 2026-06-03 Listed $185,000 GBAOR
• 2001-08-07 Sold (Public Records) $78,900 Public Records

Property tax history

+5.9%/yr

Latest (2025): $8,451 · +0.9% YoY. Source: county tax records.