547 State St · Binghamton, NY 13901

$107,000

2 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 81 Days on market

Built 1910 2,613 sqft lot $93/sqft · 8% below area Est $117k · 8% under

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Why this score? — see what drove the C+ 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 +25.7/30.0
• ARV discount +11.3/15.0
• DSCR +8.6/10.0
• 1% rule +7.1/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this single-family home conveniently located in Binghamton, close to downtown, shopping, restaurants, and major roadways. This home has been updated throughout offering a clean and move-in-ready interior. Some updates include fresh paint throughout, new flooring, an updated kitchen, an updated bathroom, and many more! New siding adds to the exterior appeal and provides low-maintenance durability. This home also features a large back deck, providing a great space for relaxing or outdoor gatherings. A solid opportunity for an owner-occupant or investor looking for an updated home in a central location. Call your favorite agent today to set up a time to come see it in person!

Key facts

• Large back deck
• New siding
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• LARGE BACK DECK
• NEW SIDING
• CLEAN INTERIOR
• MOVE-IN-READY INTERIOR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• Recommended offer: $101k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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.
• 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.
• Market conditions: 92 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $740 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($101k) 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 $20k; list at $107k implies a 435% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,580 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.21% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.23%
• DSCR: 1.46
• GRM: 6.9

CMA / ARV

• ARV (median comp): $116,903
• List price: $107,000
• Delta: -8.47%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 Yager St St	0.33mi	3/1.0 (+1)	1,212 (+5%)	1mo	$125,000	$103	70
530 Chenango St	0.43mi	3/1.0 (+1)	1,176 (+2%)	8mo	$117,000	$99	64
7 Emmett St	0.46mi	2/1.0	1,224 (+6%)	5mo	$90,000	$74	64
162 Prospect Ave	0.54mi	2/1.5	1,240 (+8%)	13mo	$102,000	$82	49
124 Robinson St	0.55mi	3/1.0 (+1)	1,296 (+12%)	14mo	$105,000	$81	37
20 Franklin St	0.65mi	3/1.5 (+1)	1,320 (+15%)	9mo	$100,000	$76	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,029
• Equity at exit: $15,954

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $20,215
• Equity at exit: $9,251

Cash invested: $29,960 (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 13901

• Home prices YoY: -5.1%
• Active inventory: 92
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,300 high
• Mortgage (P&I): −$561
• Tax from tax record: −$166 /mo · $1,988/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $255

Break-even live

Break-even rent $976

Max offer price $107,000

Occupancy floor 75%

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Sturges St #2 Binghamton, NY	2.0	1.0	800	$1,200	$1.50	13d	1	0.20mi
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	13d	1	0.40mi
14 Dennison Ave Unit 2 Binghamton, NY	2.0	1.0	1100	$1,150	$1.05	43d	1	0.46mi
274 Chenango St Unit 1 Binghamton, NY	1.0	1.0	850	$1,200	$1.41	43d	1	0.49mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	43d	1	0.50mi
26 Doubleday St #2 Binghamton, NY	2.0	1.0	850	$1,400	$1.65	44d	1	0.50mi
147 E Frederick St Binghamton, NY	2.0	1.0	800	$1,200	$1.50	13d	1	0.65mi
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	43d	1	0.72mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	21d	1	0.72mi
198 Court St Unit 10 Binghamton, NY	2.0	1.0	700	$1,200	$1.71	21d	1	0.89mi
198 Court St Unit 6 Binghamton, NY	2.0	1.0	700	$1,350	$1.93	21d	1	0.89mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	13d	1	0.94mi
28 Lydia St Unit 1-R Binghamton, NY	2.0	1.0	770	$1,200	$1.56	44d	1	1.00mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	43d	1	1.00mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	21d	1	1.00mi
37 Bigelow St Unit 1 Binghamton, NY	3.0	1.5	854	$1,500	$1.76	13d	1	1.09mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	43d	1	1.11mi
159 Washington St Binghamton, NY	1.0	1.0	725	$1,372	$1.89	43d	4	1.14mi
38 Carroll St Unit 21 Binghamton, NY	1.0	1.0	800	$1,050	$1.31	43d	1	1.15mi
81 State St Unit 2 Binghamton, NY	2.0	2.0	800	$1,000	$1.25	43d	1	1.20mi
80 State St Unit A 6 Loft Binghamton, NY	1.0	1.0	800	$1,200	$1.50	43d	1	1.21mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	43d	1	1.21mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	43d	1	1.27mi
231 Conklin Ave #2 Binghamton, NY	3.0	1.0	700	$1,350	$1.93	43d	1	1.28mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	43d	1	1.31mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	13d	1	1.39mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	13d	1	1.44mi
50 Front St Binghamton, NY	1.0	1.0	1092	$2,450	$2.24	13d	8	1.50mi

Listing history 8 events

1. 2026-06-01
   days on market $107,000 Active 81 DOM
2. 2026-05-31
   days on market $107,000 Active 80 DOM
3. 2026-05-30
   days on market $107,000 Active 79 DOM
4. 2026-04-21
   price $107,000 693-char remark

   Show marketing remark (693 chars)

   Welcome to this single-family home conveniently located in Binghamton, close to downtown, shopping, restaurants, and major roadways. This home has been updated throughout offering a clean and move-in-ready interior. Some updates include fresh paint throughout, new flooring, an updated kitchen, an updated bathroom, and many more! New siding adds to the exterior appeal and provides low-maintenance durability. This home also features a large back deck, providing a great space for relaxing or outdoor gatherings. A solid opportunity for an owner-occupant or investor looking for an updated home in a central location. Call your favorite agent today to set up a time to come see it in person!

5. 2026-03-12
   listed $110,000 Active 693-char remark

   Show marketing remark (693 chars)

   Welcome to this single-family home conveniently located in Binghamton, close to downtown, shopping, restaurants, and major roadways. This home has been updated throughout offering a clean and move-in-ready interior. Some updates include fresh paint throughout, new flooring, an updated kitchen, an updated bathroom, and many more! New siding adds to the exterior appeal and provides low-maintenance durability. This home also features a large back deck, providing a great space for relaxing or outdoor gatherings. A solid opportunity for an owner-occupant or investor looking for an updated home in a central location. Call your favorite agent today to set up a time to come see it in person!

6. 2026-01-15
   price $129,000
7. 2025-12-20
   listed $139,000 Active
8. 2008-05-09
   soldstatus $20,000

ⓘ 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: $1,988 · $166/mo
• Projected year-2 tax: $1,988 · $166/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 5/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 17 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: $15,598
• − Mortgage interest: −$5,994
• − Property taxes: −$1,988
• − Insurance: −$535
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$3,113
• Taxable income: $1,473
• Est. tax owed @ 24.0%: −$353
• After-tax cash flow: $2,712/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): 19,613
• Household income: $55,523
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 1230.0

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% Two or more races 7% Hispanic / Latino 7% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -16.13%
• Current HPI: 300.7692
• 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

+435.0% since first listed

5 events — show timeline

• 2026-04-21 Price Changed $107,000 GBAOR
• 2026-03-12 Listed $110,000 GBAOR
• 2026-01-15 Price Changed $129,000 GBAOR
• 2025-12-20 Listed $139,000 GBAOR
• 2008-05-09 Sold (Public Records) $20,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $1,988 · +0.9% YoY. Source: county tax records.