106 Burr Ave · Binghamton, NY 13903

$395,000

9 bd · 5.1 ba · 5,880 sqft · MultiFamily public records · 17 Days on market

Built 1987 0.45 ac lot

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Why this score? — see what drove the A- 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

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

106 Burr Ave, a Multi Family property in the Heart of Binghamton. The property is located close to Down Town Binghamton, SUNY Binghamton, Major Highways, Public Transportation, & Local Amenities. The property is ideal for Rental Income. The property is completely renovated with no upgrades needed. Don't Miss your chance to tour this exceptional property.

Key facts

• Completely renovated
• Heart of binghamton
• 0.45 acre lot

Tags

• MULTI FAMILY PROPERTY
• HEART OF BINGHAMTON
• CLOSE TO DOWN TOWN BINGHAMTON
• COMPLETELY RENOVATED

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.7-bath units multifamily listed at $395k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $621/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $395k).
• Recommended offer: $389k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% 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.
• Susquehanna Valley Central School District (rural): math 48% / reading 57% proficiency, ranked #330 of 590 in NY (top 56%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 112 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $5,812/mo this rent would consume 105% of the median local household income ($66k/yr) (locally 602% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $42k of equity ($3k loan paydown + $40k 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 $111k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$68k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($389k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y 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 $225k; list at $395k implies a 76% gain — meaningful room to come down on a strong offer.

Recommended offer $389,075 (1.5% below list)

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.47% ✓
• Cap rate: 11.95%
• Cash-on-cash: 20.20%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.4%
• Equity multiple: 4.02×
• Total profit: $333,789
• Equity at exit: $355,847

10-year hold

• IRR: 33.9%
• Equity multiple: 9.05×
• Total profit: $889,883
• Equity at exit: $767,398

Cash invested: $110,600 (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: 17.0×

Monthly cashflow live

• Estimated rent: $5,812 high
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,925/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,221
• Net cashflow: $1,862

Break-even live

Break-even rent $3,455

Max offer price $395,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.7	$5,811
Total (3 units)			$5,812

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $395,000 Active 17 DOM
2. 2026-06-18
   days on market $395,000 Active 16 DOM
3. 2026-06-17
   days on market $395,000 Active 15 DOM
4. 2026-06-16
   days on market $395,000 Active 14 DOM
5. 2026-06-15
   days on market $395,000 Active 13 DOM
6. 2026-06-14
   days on market $395,000 Active 11 DOM
7. 2026-06-13
   days on market $395,000 Active 10 DOM
8. 2026-06-10
   days on market $395,000 Active 8 DOM
9. 2026-06-09
   days on market $395,000 Active 7 DOM
10. 2026-06-08
    days on market $395,000 Active 6 DOM
11. 2026-06-07
    days on market $395,000 Active 5 DOM
12. 2026-06-05
    remarks 357-char remark
13. 2026-06-05
    listed $395,000 Active 2 DOM

ⓘ 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 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $69,744
• − Mortgage interest: −$22,126
• − Property taxes: −$5,925
• − Insurance: −$1,975
• − Repairs & maintenance: −$5,580
• − Management: −$5,580
• − Depreciation: −$11,491
• Taxable income: $17,068
• Est. tax owed @ 24.0%: −$4,096
• After-tax cash flow: $18,244/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: Susquehanna Valley Central School District
• NCES district ID: 3628380
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $57,681
• Composite: 45.56/100
• National rank: #2599
• State rank: #330 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

• 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

+147.0% since first listed

14 events — show timeline

• 2026-06-02 Listed $395,000 GBAOR
• 2026-03-11 Relisted — GBAOR
• 2026-01-08 Pending — GBAOR
• 2025-11-19 Relisted — GBAOR
• 2025-11-17 Pending — GBAOR
• 2025-10-31 Listed $400,000 GBAOR
• 2025-09-10 Rental Removed $1,800 GBAOR
• 2025-08-25 Price Changed $1,800 GBAOR
• 2025-06-10 Listed for Rent $2,200 GBAOR
• 2025-05-10 Listed $500,000 GBAOR
• 2023-05-25 Sold (Public Records) $225,000 Public Records
• 2016-09-26 Sold (MLS) $58,000 GBAOR
• 2016-08-05 Listed $60,000 GBAOR
• 2006-09-29 Sold (Public Records) $159,900 Public Records

Property tax history

-25.6%/yr

Latest (2025): $241 · -0.2% YoY. Source: county tax records.