6 Hancock St · Binghamton, NY 13903

$90,000

2 bd · 1.0 ba · 1,340 sqft · SingleFamily public records · 263 Days on market

Built 1880 Fair condition 3,920 sqft lot $67/sqft · 44% below area Est $161k · 44% under

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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 +25.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Calling all investors! Located in Binghamton NY and a few streets from downtown shopping, restaurants, schools, parks and public transportation. This home has 4 bedrooms and a full bath on the second floor. The main level has a kitchen, a 1/2 bath, laundry, dining area and living room. This home has wood floors and the heating system is radiator. In the unfinished basement there is an electrical panel, new boiler and furnace. The property has a private driveway and a backyard. The house is being sold AS IS/WHERE IS. The property is tenant occupied so advance notice is needed to schedule a tour.

Key facts

• Wood floors
• Downtown shopping
• Parks

Tags

• DOWNTOWN SHOPPING
• RESTAURANTS
• SCHOOLS
• PARKS
• PUBLIC TRANSPORTATION
• WOOD FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 5.7% 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: 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: 190 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 40% 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 $10k of equity ($622 loan paydown + $9k 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 263 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $21k; list at $90k implies a 329% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1880 — 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. 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: 1.53% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.93%
• DSCR: 1.44
• GRM: 5.5

CMA / ARV

• ARV (median comp): $161,279
• List price: $90,000
• Delta: -44.20%
• 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
135 Susquehanna Street St	0.35mi	2/2.0	1,370 (+2%)	6mo	$55,000	$40	71
40 Mary St	0.44mi	3/1.5 (+1)	1,330 (-1%)	3mo	$55,000	$41	69
60 James St	0.44mi	3/1.5 (+1)	1,323 (-1%)	3mo	$210,000	$159	68
6 Curran Ave	0.42mi	3/1.0 (+1)	1,323 (-1%)	8mo	$167,000	$126	67
1214 Vestal Ave	0.44mi	3/1.0 (+1)	1,260 (-6%)	2mo	$125,000	$99	63
20 Vine St	0.41mi	3/1.5 (+1)	1,450 (+8%)	1mo	$157,470	$109	59
10 Columbia Ave	0.36mi	3/1.5 (+1)	1,216 (-9%)	6mo	$170,000	$140	56
103 Mary St	0.61mi	3/2.0 (+1)	1,400 (+4%)	3mo	$141,000	$101	53
66 James St	0.44mi	3/1.5 (+1)	1,520 (+13%)	0mo	$203,092	$134	50
36 Hall St	0.47mi	2/1.0	1,160 (-13%)	11mo	$95,000	$82	47
60 S Washington St	0.52mi	3/1.5 (+1)	1,527 (+14%)	1mo	$118,500	$78	45
61 Mitchell Ave	0.69mi	3/2.0 (+1)	1,492 (+11%)	1mo	$175,000	$117	39

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: 31.6%
• Equity multiple: 3.48×
• Total profit: $62,480
• Equity at exit: $81,079

10-year hold

• IRR: 27.4%
• Equity multiple: 7.90×
• Total profit: $173,900
• Equity at exit: $174,850

Cash invested: $25,200 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 25 under contract
• Months of supply: 3.5 mo (29%/mo absorbed)
• Median asking: $160,000 ($116/sqft)
• Median days on market: 75 d
• This list price: 9% of active listings are priced below it
• ARV vs active asking: +3.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 13903

• Home prices YoY: 4.3%
• Active inventory: 190
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,376 high
• Mortgage (P&I): −$472
• Tax from tax record: −$369 /mo · $4,424/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $209

Break-even live

Break-even rent $1,112

Max offer price $90,000

Occupancy floor 80%

Sensitivity live

Price	-10% $527	-5% $496	+0% $209	+5% $183	+10% $158
Rent	-10% $100	-5% $154	+0% $209	+5% $263	+10% $317
Rate	-1.0pp $254	-0.5pp $231	base $209	+0.5pp $185	+1.0pp $162

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: $22,500
• Closing costs: $2,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Carlton St #2 Binghamton, NY	2.0	1.0	1000	$1,200	$1.20	12d	1	0.05mi
90 Conklin Ave Unit 4 Binghamton, NY	1.0	1.0	1600	$500	$0.31	10d	1	0.09mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	154d	1	0.12mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	184d	1	0.17mi
4 McNamara Ave Unit 2 Binghamton, NY	3.0	1.0	1000	$1,400	$1.40	0d	1	0.19mi
6 Evans St Unit 2 Binghamton, NY	2.0	1.0	950	$1,300	$1.37	0d	1	0.21mi
43 Mill St #2 Binghamton, NY	2.0	1.0	1225	$1,250	$1.02	9d	1	0.21mi
48 Telegraph St Binghamton, NY	2.0	2.0	1300	$1,800	$1.38	0d	1	0.22mi
27 1/2 Euclid Ave Binghamton, NY	3.0	1.5	1200	$1,350	$1.12	29d	1	0.26mi
21 Phinn Ave Binghamton, NY	2.0	1.5	960	$1,250	$1.30	0d	1	0.34mi
47 Carroll St Unit 1L Binghamton, NY	3.0	1.0	1000	$2,250	$2.25	10d	1	0.36mi
47 Carroll St Apt 2R Binghamton, NY	3.0	1.0	1000	$1,950	$1.95	10d	1	0.37mi
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	154d	1	0.46mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	154d	1	0.53mi
87 S Washington St Binghamton, NY	2.0	1.0	900	$1,100	$1.22	0d	1	0.54mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	184d	1	0.54mi
17 Mitchell Ave Unit 1 Binghamton, NY	3.0	1.5	1314	$1,450	$1.10	16d	1	0.54mi
17 Mitchell Ave Unit 1 Binghamton, NY	3.0	1.5	1314	$1,450	$1.10	10d	1	0.54mi
226 Court St Apt 2 Binghamton, NY	1.0	1.0	900	$1,000	$1.11	10d	1	0.64mi
57 Tompkins St Unit 2 Binghamton, NY	3.0	1.5	1126	$1,550	$1.38	10d	1	0.64mi
50 Front St Binghamton, NY	1.0–2.0	1.0–2.0	1150	$3,200	$2.78	0d	5	0.70mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	184d	1	0.70mi
27 Tompkins St Unit B3 Binghamton, NY	2.0	1.0	950	$1,150	$1.21	10d	1	0.70mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	162d	1	0.70mi
12 Tompkins St Binghamton, NY	3.0	1.0	900	$1,400	$1.56	10d	1	0.71mi
59 Hayes St Unit 2 Binghamton, NY	2.0	1.0	1050	$1,100	$1.05	10d	1	0.79mi
257 Washington St Binghamton, NY	2.0–3.0	1.0–2.0	1350	$1,400	$1.04	0d	1	0.83mi
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	184d	1	0.89mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	184d	1	0.97mi
145 Prospect Ave Binghamton, NY	2.0	1.5	1740	$1,550	$0.89	10d	1	1.01mi
86 Burr Ave Unit B Binghamton, NY	2.0	1.0	1200	$1,300	$1.08	51d	1	1.05mi
86 Burr Ave Unit B Binghamton, NY	3.0	1.0	1200	$1,200	$1.00	0d	1	1.05mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	184d	1	1.06mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	184d	1	1.10mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	162d	1	1.13mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	184d	1	1.16mi
183 Old Pennsylvania Ave Binghamton, NY	2.0	1.5	1080	$1,600	$1.48	5d	1	1.19mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	154d	1	1.19mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,500	$1.50	51d	1	1.19mi
127 Walnut St #2 Binghamton, NY	3.0	1.0	1820	$1,500	$0.82	2d	1	1.20mi

Listing history 50 events

1. 2026-11-08
   days on market $90,000 Active 263 DOM
2. 2026-11-07
   days on market $90,000 Active 262 DOM
3. 2026-11-06
   days on market $90,000 Active 261 DOM
4. 2026-11-05
   days on market $90,000 Active 260 DOM
5. 2026-11-04
   days on market $90,000 Active 259 DOM
6. 2026-11-02
   days on market $90,000 Active 257 DOM
7. 2026-11-01
   days on market $90,000 Active 256 DOM
8. 2026-10-31
   days on market $90,000 Active 255 DOM
9. 2026-10-30
   days on market $90,000 Active 254 DOM
10. 2026-10-29
    days on market $90,000 Active 253 DOM
11. 2026-10-28
    days on market $90,000 Active 252 DOM
12. 2026-10-27
    days on market $90,000 Active 251 DOM
13. 2026-10-26
    days on market $90,000 Active 250 DOM
14. 2026-10-25
    days on market $90,000 Active 249 DOM
15. 2026-10-24
    days on market $90,000 Active 248 DOM
16. 2026-10-23
    days on market $90,000 Active 247 DOM
17. 2026-10-22
    days on market $90,000 Active 246 DOM
18. 2026-10-21
    days on market $90,000 Active 245 DOM
19. 2026-10-20
    days on market $90,000 Active 244 DOM
20. 2026-10-19
    days on market $90,000 Active 243 DOM
21. 2026-10-18
    days on market $90,000 Active 242 DOM
22. 2026-10-17
    days on market $90,000 Active 241 DOM
23. 2026-10-16
    days on market $90,000 Active 240 DOM
24. 2026-10-15
    days on market $90,000 Active 239 DOM
25. 2026-10-14
    days on market $90,000 Active 238 DOM
26. 2026-10-13
    days on market $90,000 Active 237 DOM
27. 2026-10-12
    days on market $90,000 Active 236 DOM
28. 2026-10-11
    days on market $90,000 Active 235 DOM
29. 2026-10-10
    days on market $90,000 Active 234 DOM
30. 2026-10-09
    days on market $90,000 Active 233 DOM
31. 2026-10-08
    days on market $90,000 Active 232 DOM
32. 2026-10-07
    days on market $90,000 Active 231 DOM
33. 2026-10-06
    days on market $90,000 Active 230 DOM
34. 2026-10-05
    days on market $90,000 Active 229 DOM
35. 2026-10-04
    days on market $90,000 Active 228 DOM
36. 2026-10-03
    days on market $90,000 Active 227 DOM
37. 2026-10-02
    days on market $90,000 Active 226 DOM
38. 2026-10-01
    days on market $90,000 Active 225 DOM
39. 2026-09-30
    days on market $90,000 Active 224 DOM
40. 2026-09-29
    days on market $90,000 Active 223 DOM
41. 2026-09-28
    days on market $90,000 Active 222 DOM
42. 2026-09-27
    days on market $90,000 Active 221 DOM
43. 2026-09-26
    days on market $90,000 Active 220 DOM
44. 2026-09-25
    days on market $90,000 Active 219 DOM
45. 2026-09-24
    days on market $90,000 Active 218 DOM
46. 2026-09-24
    days on market $90,000 Active 217 DOM
47. 2026-09-22
    days on market $90,000 Active 216 DOM
48. 2026-09-20
    days on market $90,000 Active 214 DOM
49. 2026-09-19
    days on market $90,000 Active 213 DOM
50. 2026-09-18
    days on market $90,000 Active 212 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: $4,424 · $369/mo
• Projected year-2 tax: $4,424 · $369/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 3/10 Moderate
• 🌡 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: $16,508
• − Mortgage interest: −$5,041
• − Property taxes: −$4,424
• − Insurance: −$450
• − Repairs & maintenance: −$1,321
• − Management: −$1,321
• − Depreciation: −$2,618
• Taxable income: $1,333
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $2,183/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $33,500–$60,300 screening

This home requires moderate renovations, including updating the kitchen, renovating the half-bath, and repainting the exterior siding. These updates will significantly increase its resale value.

Repairs flagged

• Moderate Kitchen cabinets — The cabinets appear dated and need updating or replacement.
• Major Half-bath — The half-bath is cluttered and outdated, requiring a full renovation.
• Major Exterior siding — The siding appears weathered and in need of repainting or replacement.

Value-add opportunities

• Resale Paint and update kitchen cabinets — Updating the kitchen cabinets can significantly improve the home's curb appeal and value. ↑
• Resale Renovate half-bath — A renovated half-bath can add significant value and appeal to potential buyers. ↑
• Resale Repaint and replace exterior siding — A fresh coat of paint and new siding can greatly enhance the home's curb appeal and value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 39/100

Zoned Schools

Elementary Benjamin Franklin Elementary School F NY #1,846/2,108 Nat'l #30,133/41,679 Middle East Middle School F NY #693/729 Nat'l #12,247/14,009 High Binghamton High School A- NY #631/1,100 Nat'l #1,551/17,239

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

B Composite livability gradescore 78/100

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 · 187,989 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: 12% of renters

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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%

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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%
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

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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

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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

+328.6% since first listed

2 events — show timeline

• 2026-02-17 Listed $90,000 GBAOR
• 2000-08-03 Sold (Public Records) $21,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $4,424 · +0.9% YoY. Source: county tax records.