152 Broad Ave · Binghamton, NY 13904

$239,000

8 bd · 4.0 ba · 4,725 sqft · MultiFamily public records · 10 Days on market

Built 1900 $51/sqft · 60% below area Est $281k · 15% 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 +30.0/30.0
• ARV discount +14.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• 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: 4 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

Excellent four family on Binghamton's Eastside. Large units, plenty of off street parking. Building has all separate utilities. There's one large three bedroom unit and one 1 bedroom unit downstairs and upstairs there is a one bedroom unit that's been renovated, and another large three bedroom unit in the process of being renovated upstairs. Newer windows and roof. Excellent investors opportunity. Fully rented and bringing in 3300.00 in monthly rents. Call and schedule an appointment to see this great money maker! It wont last!

Key facts

• Separate utilities
• Income generating
• Built 1900

Tags

• INCOME GENERATING
• SEPARATE UTILITIES
• ENOUGH PARKING SPACES

Property features AI

Finance

• Financial info: Unit rents: $900, $1,275, $1,000, $900

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property; Quadruplex
• Construction: Brick construction
• Exterior features: Covered porch

Interior

• Bedrooms: One 1-bedroom unit; Two 3-bedroom units; One additional 1-bedroom unit
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: Four 1-bath units
• Heating & cooling: Baseboard heating; Forced air heating; Has cooling
• Interior features: Ceiling fan(s); Gas water heater

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $239k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $530/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $239k).
• Cap rate 16.9% 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: 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: Theodore Roosevelt School (math 27% / reading 37%, grade F, #1,646 of 2,108 statewide, top 80%, 345 students, 74% FRL).
• Market conditions: 41 active listings in the ZIP; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k 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 $67k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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 $184k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $239,000

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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.08% ✓
• Cap rate: 16.95%
• Cash-on-cash: 38.04%
• DSCR: 2.69
• GRM: 4.0

CMA / ARV

• ARV (median comp): $280,872
• List price: $239,000
• Delta: -14.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 53.6%
• Equity multiple: 4.97×
• Total profit: $265,465
• Equity at exit: $215,310

10-year hold

• IRR: 47.2%
• Equity multiple: 11.10×
• Total profit: $675,828
• Equity at exit: $464,324

Cash invested: $66,920 (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 13904

• Home prices YoY: 17.1%
• Active inventory: 41
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $4,975 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$456 /mo · $5,468/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,045
• Net cashflow: $2,122

Break-even live

Break-even rent $2,289

Max offer price $239,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,590
▸ 2× units	1	1	$2,384
Total (4 units)			$4,975

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-11
   status Pending 542-char remark
2. 2026-05-01
   listed $239,000 Active 542-char remark
3. 2024-09-18
   soldstatus $184,000
4. 2024-09-13
   soldstatus $184,000 Closed 534-char remark

   Show marketing remark (534 chars)

   Excellent four family on Binghamton's Eastside. Large units, plenty of off street parking. Building has all separate utilities. There's one large three bedroom unit and one 1 bedroom unit downstairs and upstairs there is a one bedroom unit that's been renovated, and another large three bedroom unit in the process of being renovated upstairs. Newer windows and roof. Excellent investors opportunity. Fully rented and bringing in 3300.00 in monthly rents. Call and schedule an appointment to see this great money maker! It wont last!

5. 2024-07-26
   status Pending 534-char remark

   Show marketing remark (534 chars)

   Excellent four family on Binghamton's Eastside. Large units, plenty of off street parking. Building has all separate utilities. There's one large three bedroom unit and one 1 bedroom unit downstairs and upstairs there is a one bedroom unit that's been renovated, and another large three bedroom unit in the process of being renovated upstairs. Newer windows and roof. Excellent investors opportunity. Fully rented and bringing in 3300.00 in monthly rents. Call and schedule an appointment to see this great money maker! It wont last!

6. 2024-06-28
   price $184,000 534-char remark

   Show marketing remark (534 chars)

   Excellent four family on Binghamton's Eastside. Large units, plenty of off street parking. Building has all separate utilities. There's one large three bedroom unit and one 1 bedroom unit downstairs and upstairs there is a one bedroom unit that's been renovated, and another large three bedroom unit in the process of being renovated upstairs. Newer windows and roof. Excellent investors opportunity. Fully rented and bringing in 3300.00 in monthly rents. Call and schedule an appointment to see this great money maker! It wont last!

7. 2024-06-13
   price $184,900 534-char remark

   Show marketing remark (534 chars)

   Excellent four family on Binghamton's Eastside. Large units, plenty of off street parking. Building has all separate utilities. There's one large three bedroom unit and one 1 bedroom unit downstairs and upstairs there is a one bedroom unit that's been renovated, and another large three bedroom unit in the process of being renovated upstairs. Newer windows and roof. Excellent investors opportunity. Fully rented and bringing in 3300.00 in monthly rents. Call and schedule an appointment to see this great money maker! It wont last!

8. 2024-05-30
   price $185,000 534-char remark

   Show marketing remark (534 chars)

   Excellent four family on Binghamton's Eastside. Large units, plenty of off street parking. Building has all separate utilities. There's one large three bedroom unit and one 1 bedroom unit downstairs and upstairs there is a one bedroom unit that's been renovated, and another large three bedroom unit in the process of being renovated upstairs. Newer windows and roof. Excellent investors opportunity. Fully rented and bringing in 3300.00 in monthly rents. Call and schedule an appointment to see this great money maker! It wont last!

9. 2024-05-24
   status Active 534-char remark

   Show marketing remark (534 chars)

   Excellent four family on Binghamton's Eastside. Large units, plenty of off street parking. Building has all separate utilities. There's one large three bedroom unit and one 1 bedroom unit downstairs and upstairs there is a one bedroom unit that's been renovated, and another large three bedroom unit in the process of being renovated upstairs. Newer windows and roof. Excellent investors opportunity. Fully rented and bringing in 3300.00 in monthly rents. Call and schedule an appointment to see this great money maker! It wont last!

10. 2024-03-21
    status Pending 534-char remark

    Show marketing remark (534 chars)

    Excellent four family on Binghamton's Eastside. Large units, plenty of off street parking. Building has all separate utilities. There's one large three bedroom unit and one 1 bedroom unit downstairs and upstairs there is a one bedroom unit that's been renovated, and another large three bedroom unit in the process of being renovated upstairs. Newer windows and roof. Excellent investors opportunity. Fully rented and bringing in 3300.00 in monthly rents. Call and schedule an appointment to see this great money maker! It wont last!

11. 2024-03-09
    listed $189,000 Active 534-char remark

    Show marketing remark (534 chars)

    Excellent four family on Binghamton's Eastside. Large units, plenty of off street parking. Building has all separate utilities. There's one large three bedroom unit and one 1 bedroom unit downstairs and upstairs there is a one bedroom unit that's been renovated, and another large three bedroom unit in the process of being renovated upstairs. Newer windows and roof. Excellent investors opportunity. Fully rented and bringing in 3300.00 in monthly rents. Call and schedule an appointment to see this great money maker! It wont last!

12. 2019-10-04
    soldstatus $95,000

ⓘ 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: $5,468 · $456/mo
• Projected year-2 tax: $5,468 · $456/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 6/10 Major FEMA zone X · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $59,700
• − Mortgage interest: −$13,388
• − Property taxes: −$5,468
• − Insurance: −$1,195
• − Repairs & maintenance: −$4,776
• − Management: −$4,776
• − Depreciation: −$6,953
• Taxable income: $23,144
• Est. tax owed @ 24.0%: −$5,555
• After-tax cash flow: $19,905/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
• City population: 65,170
• Population (ZIP): 9,138

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 (73%)
• Race & ethnicity: White 73% Black 12% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · French/Haitian/Cajun 5% Spanish 4% Chinese 2%

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: ▲ 40.85%
• Current HPI: 280.3184
• Rent YoY: —
• Metro: —
• 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

+151.6% since first listed

12 events — show timeline

• 2026-05-11 Pending — GBAOR
• 2026-05-01 Listed $239,000 GBAOR
• 2024-09-18 Sold (Public Records) $184,000 Public Records
• 2024-09-13 Sold (MLS) $184,000 GBAOR
• 2024-07-26 Pending — GBAOR
• 2024-06-28 Price Changed $184,000 GBAOR
• 2024-06-13 Price Changed $184,900 GBAOR
• 2024-05-30 Price Changed $185,000 GBAOR
• 2024-05-24 Relisted — GBAOR
• 2024-03-21 Pending — GBAOR
• 2024-03-09 Listed $189,000 GBAOR
• 2019-10-04 Sold (Public Records) $95,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $5,468 · +0.9% YoY. Source: county tax records.