150 Murray St St · Binghamton, NY 13905

$269,900

4 bd · 2.0 ba · 2,693 sqft · MultiFamily public records · 8 Days on market

Built 1900 7,405 sqft lot Est $250k · 8% over

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• ARV discount +4.0/15.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Fully rented income-producing duplex generating $2,950 per month in gross rental income with rents of $1,550 and $1,400 per month. This turnkey investment offers immediate cash flow with separate utilities and separate meters, allowing tenants to pay their own expenses and helping maximize returns. Pride of ownership is evident throughout this well-maintained property, which has been cared for by the same owner for approximately 20 years. Both units feature in-unit laundry. Additional amenities include a detached two-car garage, ample off-street parking, a rear deck, and generous yard space. Ideally located near Downtown Binghamton, Binghamton University bus routes, hospitals, shopping, res

Key facts

• Separate utilities
• In unit laundry
• Rear deck

Tags

• INCOME PRODUCING DUPLEX
• SEPARATE UTILITIES
• IN UNIT LAUNDRY
• DETACHED TWO CAR GARAGE
• AMPLE OFF STREET PARKING
• REAR DECK

Property features AI

Finance

• Financial info: Two income-producing units with rents listed: one unit at $1,400 and the other at $1,550

Exterior

• Parking: Detached garage; Driveway; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income property)
• Construction: Aluminum siding
• Exterior features: Covered porch; Deck; Fenced yard; Level lot

Interior

• Kitchen: Refrigerator
• Bedrooms: Two 4-bedroom units (each unit listed separately)
• Flooring: Hardwood
• Bathrooms: Two full bathrooms total (one full bathroom in each unit)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Hardwood floors; Dryer, Washer; Refrigerator; Gas water heater; Basement
• Laundry & utility: Washer and Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $622/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $270k).
• Cap rate 11.8% 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: Horace Mann School (math 22% / reading 32%, grade F, #1,786 of 2,108 statewide, top 86%, 243 students, 72% FRL).
• Market conditions: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 7 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).
• At $4,076/mo this rent would consume 92% of the median local household income ($53k/yr) (locally 1875% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $76k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $40k; list at $270k implies a 575% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $269,900

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: 1.51% ✓
• Cap rate: 11.83%
• Cash-on-cash: 19.77%
• DSCR: 1.88
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $250,449
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Walnut Street St	0.15mi	4/2.0	2,422 (-10%)	2mo	$55,000	$23	74
16-14 Lydia St	0.37mi	4/2.0	2,596 (-4%)	17mo	$131,440	$51	62
99 Leroy St	0.70mi	4/2.0	2,604 (-3%)	9mo	$260,000	$100	54
199 Chapin St	0.12mi	5/3.0 (+1)	2,414 (-10%)	20mo	$150,000	$62	52
70 Thorp St	0.49mi	4/2.0	2,368 (-12%)	8mo	$35,000	$15	51
103 Walnut St	0.16mi	5/4.0 (+1)	2,406 (-11%)	19mo	$45,150	$19	46
4 Bennett Ave	0.68mi	4/2.0	2,332 (-13%)	5mo	$217,500	$93	42
34 Oak St	0.62mi	4/2.0	2,380 (-12%)	23mo	$272,000	$114	33
109 Seminary Ave	0.70mi	5/2.0 (+1)	2,456 (-9%)	20mo	$299,500	$122	32
33 Oak St	0.62mi	5/4.0 (+1)	3,044 (+13%)	21mo	$330,000	$108	19

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: 17.6%
• Equity multiple: 1.76×
• Total profit: $57,216
• Equity at exit: $40,243

10-year hold

• IRR: 29.5%
• Equity multiple: 4.31×
• Total profit: $250,475
• Equity at exit: $23,336

Cash invested: $75,572 (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: 11.0×

Monthly cashflow live

• Estimated rent: $4,076 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$447 /mo · $5,369/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$856
• Net cashflow: $1,245

Break-even live

Break-even rent $2,500

Max offer price $269,900

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$4,076
Total (2 units)			$4,076

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	44d	1	0.04mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	44d	1	0.58mi
13 Chapin St Binghamton, NY	4.0	3.0	2452	$4,000	$1.63	44d	1	0.80mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	0.95mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	44d	1	1.08mi
74 Matthews St Binghamton, NY	3.0	2.0	2510	$2,300	$0.92	21d	1	1.16mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	13d	1	1.23mi

Listing history 8 events

1. 2026-06-19
   days on market $269,900 Active 8 DOM
2. 2026-06-18
   days on market $269,900 Active 7 DOM
3. 2026-06-17
   days on market $269,900 Active 6 DOM
4. 2026-06-16
   days on market $269,900 Active 5 DOM
5. 2026-06-15
   days on market $269,900 Active 4 DOM
6. 2026-06-14
   days on market $269,900 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $269,900 Active 1 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: $5,369 · $447/mo
• Projected year-2 tax: $5,369 · $447/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 8 d/yr ≥92°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: $48,912
• − Mortgage interest: −$15,119
• − Property taxes: −$5,369
• − Insurance: −$1,350
• − Repairs & maintenance: −$3,913
• − Management: −$3,913
• − Depreciation: −$7,852
• Taxable income: $11,397
• Est. tax owed @ 24.0%: −$2,735
• After-tax cash flow: $12,202/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

+574.8% since first listed

2 events — show timeline

• 2026-06-11 Listed $269,900 GBAOR
• 2006-05-10 Sold (Public Records) $40,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $5,369 · +0.9% YoY. Source: county tax records.