136 Court St St · Binghamton, NY 13901

$150,000

8 bd · 3.0 ba · 4,058 sqft · Condo · 127 Days on market

Built 1843 Good condition $37/sqft · 53% below area ↓ 11% since listing

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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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Set in the sought-after downtown Historic District, this exceptional three-story Commercial Mixed-use property offering a blend of office space and lucrative residential rentals in a prime location downtown. The first floor is currently configured as a professional office suite, previously used as an attorney's office; featuring a reception area, conference room, 3-4 private offices, a kitchen, and a bathroom-ideal for legal, financial, or general business use. The second and third floors feature fully renovated, modern 4-bedroom rentals, designed to maximize income, while preserving the buildings character. Ideal for Student housing in a high-demand area, while appealing to investors looking for a well-balnaced mixed-use asset. The walkable downtown location offers close proximity to businesses, restaurants, and local amenities, supporting strong demand from both commercial and residential tenants. This is a great opportunity to capitalize on both historic prestige and future growth.

Key facts

• Built 1843
• Listed 126 days

Tags

• DOWNTOWN HISTORIC DISTRICT
• COMMERCIAL MIXED-USE PROPERTY
• PROFESSIONAL OFFICE SUITE
• FULLY RENOVATED RENTALS
• WALKABLE DOWNTOWN LOCATION
• CLOSE PROXIMITY TO BUSINESSES

What this means for you Summary

Snapshot

• This is a 8-bed/3.0-bath condo listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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; 1 comparable units currently listed for rent nearby; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• This rent runs 36% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 127 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1843 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1843 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
9. 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.
10. 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: 1.11% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $316,376
• List price: $150,000
• Delta: -52.59%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-6,692
• Equity at exit: $22,365

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $16,924
• Equity at exit: $12,969

Cash invested: $42,000 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,662 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $276

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 78%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19 Edwards St Binghamton, NY	7.0	3.0	2989	$600	$0.20	43d	1	0.90mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-19
   days on market $150,000 Active 127 DOM
2. 2026-06-18
   days on market $150,000 Active 126 DOM
3. 2026-06-17
   days on market $150,000 Active 125 DOM
4. 2026-06-16
   days on market $150,000 Active 124 DOM
5. 2026-06-15
   days on market $150,000 Active 123 DOM
6. 2026-06-14
   days on market $150,000 Active 121 DOM
7. 2026-06-13
   days on market $150,000 Active 120 DOM
8. 2026-06-10
   days on market $150,000 Active 118 DOM
9. 2026-06-09
   days on market $150,000 Active 117 DOM
10. 2026-06-08
    days on market $150,000 Active 116 DOM
11. 2026-06-07
    days on market $150,000 Active 115 DOM
12. 2026-06-03
    days on market $150,000 Active 111 DOM
13. 2026-06-02
    days on market $150,000 Active 110 DOM
14. 2026-06-01
    days on market $150,000 Active 109 DOM
15. 2026-05-31
    days on market $150,000 Active 108 DOM
16. 2026-05-30
    days on market $150,000 Active 107 DOM
17. 2026-03-10
    price $827,000 999-char remark

    Show marketing remark (999 chars)

    Set in the sought-after downtown Historic District, this exceptional three-story Commercial Mixed-use property offering a blend of office space and lucrative residential rentals in a prime location downtown. The first floor is currently configured as a professional office suite, previously used as an attorney's office; featuring a reception area, conference room, 3-4 private offices, a kitchen, and a bathroom-ideal for legal, financial, or general business use. The second and third floors feature fully renovated, modern 4-bedroom rentals, designed to maximize income, while preserving the buildings character. Ideal for Student housing in a high-demand area, while appealing to investors looking for a well-balnaced mixed-use asset. The walkable downtown location offers close proximity to businesses, restaurants, and local amenities, supporting strong demand from both commercial and residential tenants. This is a great opportunity to capitalize on both historic prestige and future growth.

18. 2026-02-12
    listed $925,000 Active 999-char remark

    Show marketing remark (999 chars)

    Set in the sought-after downtown Historic District, this exceptional three-story Commercial Mixed-use property offering a blend of office space and lucrative residential rentals in a prime location downtown. The first floor is currently configured as a professional office suite, previously used as an attorney's office; featuring a reception area, conference room, 3-4 private offices, a kitchen, and a bathroom-ideal for legal, financial, or general business use. The second and third floors feature fully renovated, modern 4-bedroom rentals, designed to maximize income, while preserving the buildings character. Ideal for Student housing in a high-demand area, while appealing to investors looking for a well-balnaced mixed-use asset. The walkable downtown location offers close proximity to businesses, restaurants, and local amenities, supporting strong demand from both commercial and residential tenants. This is a great opportunity to capitalize on both historic prestige and future growth.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,941
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$4,364
• Taxable income: $985
• Est. tax owed @ 24.0%: −$236
• After-tax cash flow: $3,078/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 · 12 photos

Good 80/100 Cosmetic rehab

This three-story commercial mixed-use property in the downtown Historic District offers a blend of office space and lucrative residential rentals. The property is in good condition with modern amenities and a prime location, making it an attractive investment opportunity.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Clean windows — Improves natural light and overall appearance
• Resale Update kitchen appliances — Modernizes kitchen and attracts buyers
• Both Install smart home features — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Clean windows — Improves natural light and overall appearance ↑
• Resale Update kitchen appliances — Modernizes kitchen and attracts buyers ↑
• Both Install smart home features — Enhances convenience and marketability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-10.6% since first listed

2 events — show timeline

• 2026-03-10 Price Changed $827,000 GBAOR
• 2026-02-12 Listed $925,000 GBAOR