36 Mill St · Binghamton, NY 13903

$179,000

4 bd · 1.5 ba · 1,540 sqft · SingleFamily public records · 108 Days on market

Built 1907 4,356 sqft lot $116/sqft · 9% above area Est $164k · 9% over

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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).

• Cash flow +11.4/30.0
• Appreciation +10.0/10.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• ARV discount +3.3/15.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this thoughtfully updated home with modern improvements offering comfort and versatility. Featuring 5 bedrooms, 2 bathrooms, and a functional layout ideal for efficient living. Previously utilized as a successful rental, presenting an excellent opportunity for investors. For those pursuing an investment, a lease is already secured offering built-in income and a seamless transition. Currently vacant, allowing buyers the freedom to move in and customize each space to suit your preference; can be delivered vacant. Whether you're an investor looking to expand your portfolio or a buyer interested in owner-occupying; this property offers flexibility to fit a variety of needs, providing livability or return.

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1907

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-61 ($-731/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (6.0% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $163k (9.0% 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: 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: 112 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 76% 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 $19k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $16k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $179k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,890 (9.0% 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. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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 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: 1.02% ✓
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.94
• GRM: 8.1

CMA / ARV

• ARV (median comp): $163,826
• List price: $179,000
• Delta: 9.26%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Esther Ave	0.15mi	4/2.0	1,536 (-0%)	6mo	$130,000	$85	86
14 Mcnamara Ave	0.11mi	4/1.5	1,463 (-5%)	8mo	$170,000	$116	80
95 S Washington St	0.40mi	3/1.0 (-1)	1,560 (+1%)	0mo	$110,000	$71	72
50 Tremont Ave	0.18mi	4/1.5	1,725 (+12%)	5mo	$175,000	$101	68
18 Kress St	0.33mi	3/1.0 (-1)	1,620 (+5%)	2mo	$105,000	$65	68
25 Duane Ave	0.28mi	4/1.5	1,740 (+13%)	8mo	$170,000	$98	59
6 Curran Ave	0.23mi	3/1.0 (-1)	1,323 (-14%)	3mo	$167,000	$126	56
103 S Washington St	0.43mi	3/2.0 (-1)	1,384 (-10%)	8mo	$167,500	$121	49
13 Edna Ave	0.39mi	3/1.0 (-1)	1,314 (-15%)	8mo	$145,000	$110	43
13 Sherwood Ave	0.72mi	4/1.5	1,332 (-14%)	1mo	$200,000	$150	43
17 Sherwood Ave	0.71mi	3/1.5 (-1)	1,356 (-12%)	2mo	$176,768	$130	41
14 Jackson Ave	0.72mi	4/1.0	1,750 (+14%)	6mo	$133,000	$76	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: 23.3%
• Equity multiple: 2.87×
• Total profit: $93,802
• Equity at exit: $161,257

10-year hold

• IRR: 20.8%
• Equity multiple: 6.58×
• Total profit: $279,671
• Equity at exit: $347,758

Cash invested: $50,120 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,833 high
• Mortgage (P&I): −$939
• Tax from tax record: −$495 /mo · $5,946/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $-61

Break-even live

Break-even rent $1,910

Max offer price $168,237

Occupancy floor 98%

Sensitivity live

Price	-10% $40	-5% $-10	+0% $-61	+5% $-112	+10% $-162
Rent	-10% $-206	-5% $-133	+0% $-61	+5% $11	+10% $84
Rate	-1.0pp $29	-0.5pp $-15	base $-61	+0.5pp $-107	+1.0pp $-154

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	45d	1	0.01mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	15d	1	0.18mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	15d	1	0.19mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	45d	1	0.55mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	45d	1	0.64mi
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	45d	1	0.75mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	45d	1	1.01mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	45d	1	1.10mi
5 Arthur St Unit 1 Binghamton, NY	5.0	2.0	1200	$2,250	$1.88	45d	1	1.11mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	45d	1	1.11mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	45d	1	1.12mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	45d	1	1.12mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	22d	1	1.18mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	45d	1	1.18mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	45d	1	1.21mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	45d	1	1.29mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	15d	1	1.33mi

Listing history 22 events

1. 2026-06-21
   days on market $179,000 Active 108 DOM
2. 2026-06-19
   days on market $179,000 Active 106 DOM
3. 2026-06-18
   days on market $179,000 Active 105 DOM
4. 2026-06-17
   days on market $179,000 Active 104 DOM
5. 2026-06-16
   days on market $179,000 Active 103 DOM
6. 2026-06-15
   days on market $179,000 Active 102 DOM
7. 2026-06-14
   days on market $179,000 Active 100 DOM
8. 2026-06-13
   days on market $179,000 Active 99 DOM
9. 2026-06-10
   days on market $179,000 Active 97 DOM
10. 2026-06-09
    days on market $179,000 Active 96 DOM
11. 2026-06-08
    days on market $179,000 Active 95 DOM
12. 2026-06-07
    days on market $179,000 Active 94 DOM
13. 2026-06-03
    days on market $179,000 Active 90 DOM
14. 2026-06-02
    days on market $179,000 Active 89 DOM
15. 2026-06-01
    days on market $179,000 Active 88 DOM
16. 2026-05-31
    days on market $179,000 Active 87 DOM
17. 2026-05-30
    days on market $179,000 Active 86 DOM
18. 2026-04-23
    price $179,000 721-char remark

    Show marketing remark (721 chars)

    Welcome to this thoughtfully updated home with modern improvements offering comfort and versatility. Featuring 5 bedrooms, 2 bathrooms, and a functional layout ideal for efficient living. Previously utilized as a successful rental, presenting an excellent opportunity for investors. For those pursuing an investment, a lease is already secured offering built-in income and a seamless transition. Currently vacant, allowing buyers the freedom to move in and customize each space to suit your preference; can be delivered vacant. Whether you're an investor looking to expand your portfolio or a buyer interested in owner-occupying; this property offers flexibility to fit a variety of needs, providing livability or return.

19. 2026-03-05
    listed $195,000 Active 721-char remark

    Show marketing remark (721 chars)

    Welcome to this thoughtfully updated home with modern improvements offering comfort and versatility. Featuring 5 bedrooms, 2 bathrooms, and a functional layout ideal for efficient living. Previously utilized as a successful rental, presenting an excellent opportunity for investors. For those pursuing an investment, a lease is already secured offering built-in income and a seamless transition. Currently vacant, allowing buyers the freedom to move in and customize each space to suit your preference; can be delivered vacant. Whether you're an investor looking to expand your portfolio or a buyer interested in owner-occupying; this property offers flexibility to fit a variety of needs, providing livability or return.

20. 2011-07-20
    soldstatus $76,500
21. 2011-07-15
    soldstatus $76,500 397-char remark

    Show marketing remark (397 chars)

    Wonderful home same owner for over 50 years. Very nice kitchen fully applianced, two-tone wood cabinetry with crown moulding. Lovely sun porch that has french doors to living room. Dining room has large bay window. Enclosed rear entry porch with laminate flooring. Large walk-up attic for all your storage needs. Summer sleeping porch off bedroom. Asking price includes seller concessions up to 6%

22. 2011-02-06
    listed $88,500 397-char remark

    Show marketing remark (397 chars)

    Wonderful home same owner for over 50 years. Very nice kitchen fully applianced, two-tone wood cabinetry with crown moulding. Lovely sun porch that has french doors to living room. Dining room has large bay window. Enclosed rear entry porch with laminate flooring. Large walk-up attic for all your storage needs. Summer sleeping porch off bedroom. Asking price includes seller concessions up to 6%

ⓘ 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: $5,946 · $495/mo
• Projected year-2 tax: $5,946 · $495/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $21,992
• − Mortgage interest: −$10,027
• − Property taxes: −$5,946
• − Insurance: −$895
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$5,207
• Taxable loss: −$3,601
• Est. tax savings @ 24.0%: +$864
• After-tax cash flow: $133/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

+102.3% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $179,000 GBAOR
• 2026-03-05 Listed $195,000 GBAOR
• 2011-07-20 Sold (Public Records) $76,500 Public Records
• 2011-07-15 Sold (MLS) $76,500 GBAOR
• 2011-02-06 Listed $88,500 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $5,946 · +0.9% YoY. Source: county tax records.