9 Goethe St · Binghamton, NY 13905

$195,000

4 bd · 1.5 ba · 1,488 sqft · SingleFamily public records · 65 Days on market

Built 1920 7,500 sqft lot $131/sqft · 58% above area Est $250k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.2/30.0
• Rent growth +5.0/5.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 5-bedroom, 2.5-bathroom single-family residence offers an unbeatable combination of spacious living and urban convenience. Perfectly situated for those at the center of everything the area has to offer. Enjoy the convenience of the West Side: walk to the gym, restaurants, stores, and still keep a large backyard, a quiet street, and plenty of parking. Newer kitchen and roof, spacious bedrooms. Located in R2 zone with a possibility to convert to a 2-family.

Key facts

• 7,500 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (6.7% below list).
• Recommended offer: $169k (13.4% below list) — sets the bar for cash-flow.

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: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% of comp listings sitting > 30 days — soft ceiling on asking rent; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• This rent runs 41% of the median local income ($53k/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 $6k 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 65 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $75k; list at $195k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,876 (13.4% 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 65 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — 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: 0.93% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.25%
• DSCR: 0.86
• GRM: 8.9

CMA / ARV

• ARV (median comp): $250,448
• List price: $195,000
• Delta: -22.14%
• 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
53 Thorp St	0.32mi	3/1.5 (-1)	1,445 (-3%)	8mo	$135,000	$93	68
6 Aberystwyth Pl	0.34mi	3/1.5 (-1)	1,416 (-5%)	4mo	$166,000	$117	68
23 Colfax Ave	0.39mi	3/2.0 (-1)	1,561 (+5%)	8mo	$72,000	$46	60
149 Matthews St	0.49mi	3/1.5 (-1)	1,564 (+5%)	5mo	$145,000	$93	59
78 Chestnut St	0.54mi	3/2.0 (-1)	1,445 (-3%)	8mo	$265,000	$183	56
84 Matthews St	0.45mi	3/1.5 (-1)	1,652 (+11%)	1mo	$191,000	$116	55
20 Lake Ave Ave	0.73mi	4/2.0	1,568 (+5%)	2mo	$125,000	$80	54
11 Helen St	0.67mi	3/1.5 (-1)	1,544 (+4%)	6mo	$245,000	$159	53
31 Lincoln Ave	0.56mi	3/2.5 (-1)	1,416 (-5%)	7mo	$236,000	$167	51
88 Crestmont Rd	0.40mi	4/2.0	1,268 (-15%)	7mo	$193,000	$152	49
167 Prospect St	0.71mi	3/2.0 (-1)	1,448 (-3%)	8mo	$144,000	$99	49
19 Stokes Ave	0.73mi	3/1.0 (-1)	1,369 (-8%)	5mo	$175,000	$128	41

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.43×
• Total profit: $-31,234
• Equity at exit: $29,075

10-year hold

• IRR: 1.1%
• Equity multiple: 1.09×
• Total profit: $5,114
• Equity at exit: $16,860

Cash invested: $54,600 (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 13905

• Home prices YoY: -31.1%
• Rents YoY: 11.2%
• Active inventory: 136
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,818 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$481 /mo · $5,767/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-148

Break-even live

Break-even rent $2,006

Max offer price $168,876

Occupancy floor —

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36 Haendel St Unit Second Floor Binghamton, NY	3.0	1.0	1200	$1,450	$1.21	43d	1	0.05mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	43d	1	0.05mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	43d	1	0.28mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	43d	1	0.37mi
99 Helen St Unit 2 Binghamton, NY	3.0	1.0	1220	$1,600	$1.31	43d	1	0.40mi
133 Crestmont Rd Unit 2 Binghamton, NY	3.0	1.0	1300	$1,900	$1.46	43d	1	0.41mi
296 Main St Unit 6 Binghamton, NY	3.0	1.0	1200	$1,250	$1.04	13d	1	0.52mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	43d	1	0.57mi
5 Arthur St Unit 1 Binghamton, NY	5.0	2.0	1200	$2,250	$1.88	43d	1	0.59mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	43d	1	0.59mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	13d	1	0.64mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	43d	1	0.64mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	43d	1	0.64mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	13d	1	0.67mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	0.68mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	43d	1	0.69mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	43d	1	0.73mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	43d	1	0.77mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	43d	1	0.93mi
145 Floral Ave Unit 4 Johnson City, NY	3.0	1.0	1095	$1,250	$1.14	21d	1	1.08mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	43d	1	1.19mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	43d	1	1.34mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	43d	1	1.40mi
400 Riverside Dr Unit 212 Johnson City, NY	3.0	1.0	1100	$2,500	$2.27	13d	1	1.47mi
400 Riverside Dr Unit 15 Johnson City, NY	3.0	1.0	1000	$2,425	$2.42	13d	1	1.47mi

Listing history 21 events

1. 2026-06-19
   days on market $195,000 Active 65 DOM
2. 2026-06-18
   days on market $195,000 Active 64 DOM
3. 2026-06-17
   days on market $195,000 Active 63 DOM
4. 2026-06-16
   days on market $195,000 Active 62 DOM
5. 2026-06-15
   days on market $195,000 Active 61 DOM
6. 2026-06-14
   days on market $195,000 Active 59 DOM
7. 2026-06-13
   days on market $195,000 Active 58 DOM
8. 2026-06-10
   days on market $195,000 Active 56 DOM
9. 2026-06-09
   days on market $195,000 Active 55 DOM
10. 2026-06-08
    days on market $195,000 Active 54 DOM
11. 2026-06-07
    days on market $195,000 Active 53 DOM
12. 2026-06-03
    days on market $195,000 Active 49 DOM
13. 2026-06-02
    days on market $195,000 Active 48 DOM
14. 2026-06-01
    days on market $195,000 Active 47 DOM
15. 2026-05-31
    days on market $195,000 Active 46 DOM
16. 2026-05-30
    days on market $195,000 Active 45 DOM
17. 2026-04-15
    listed $195,000 Active 464-char remark

    Show marketing remark (464 chars)

    This 5-bedroom, 2.5-bathroom single-family residence offers an unbeatable combination of spacious living and urban convenience. Perfectly situated for those at the center of everything the area has to offer. Enjoy the convenience of the West Side: walk to the gym, restaurants, stores, and still keep a large backyard, a quiet street, and plenty of parking. Newer kitchen and roof, spacious bedrooms. Located in R2 zone with a possibility to convert to a 2-family.

18. 2022-01-31
    soldstatus $75,000
19. 2011-07-07
    soldstatus $52,500
20. 2011-06-27
    soldstatus $52,500 333-char remark

    Show marketing remark (333 chars)

    Home is being sold in as/is condition but has been maintained. Could be excellent student rental. Kitchen updated with new cupboards. Foyer is large parlor. Hdwd floors, some orignal woodwork. Basement has walkout to patio. Barn on backlot in as/is condition but could be garage. 2ndFl encl porch off bedrm. w/ u attic finished bdrm.

21. 2010-09-26
    listed $60,000 333-char remark

    Show marketing remark (333 chars)

    Home is being sold in as/is condition but has been maintained. Could be excellent student rental. Kitchen updated with new cupboards. Foyer is large parlor. Hdwd floors, some orignal woodwork. Basement has walkout to patio. Barn on backlot in as/is condition but could be garage. 2ndFl encl porch off bedrm. w/ u attic finished bdrm.

ⓘ 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: $5,767 · $481/mo
• Projected year-2 tax: $5,767 · $481/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 · 24% 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: $21,821
• − Mortgage interest: −$10,923
• − Property taxes: −$5,767
• − Insurance: −$975
• − Repairs & maintenance: −$1,746
• − Management: −$1,746
• − Depreciation: −$5,673
• Taxable loss: −$5,008
• Est. tax savings @ 24.0%: +$1,202
• After-tax cash flow: $-573/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): 27,988
• Household income: $53,362
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1875.0

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 (68%)
• Race & ethnicity: White 68% Asian 10% Black 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 1%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 87% English-only · Other Indo-European 5% Spanish 2% Other Asian/Pacific 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: ▼ -134.70%
• Current HPI: 298.9847
• Rent YoY: ▲ 11.19%
• 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

+225.0% since first listed

5 events — show timeline

• 2026-04-15 Listed $195,000 GBAOR
• 2022-01-31 Sold (Public Records) $75,000 Public Records
• 2011-07-07 Sold (Public Records) $52,500 Public Records
• 2011-06-27 Sold (MLS) $52,500 GBAOR
• 2010-09-26 Listed $60,000 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $5,767 · +0.9% YoY. Source: county tax records.