24 Colfax Ave · Binghamton, NY 13905

$134,900

3 bd · 1.5 ba · 1,359 sqft · SingleFamily public records · 168 Days on market

Built 1910 4,791 sqft lot $99/sqft · at area comps Est $138k · at est.

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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 +19.3/30.0
• ARV discount +8.4/15.0
• 1% rule +7.4/10.0
• DSCR +6.1/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come relax on this enclosed front porch or enjoy the patio out back looking out at your large backyard. There are hardwood floors under the carpets. There are 3 bedrooms with 2 smaller rooms without closets that can be used as a bedroom, office or playroom.

Key facts

• Large backyard
• Patio
• Hardwood floors

Tags

• ENCLOSED FRONT PORCH
• LARGE BACKYARD
• HARDWOOD FLOORS
• PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.

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; 31 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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 37% 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 $933 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $135k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.24% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.69%
• DSCR: 1.21
• GRM: 6.7

CMA / ARV

• ARV (median comp): $137,738
• List price: $134,900
• Delta: -2.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Crestmont Rd	0.52mi	4/1.5 (+1)	1,350 (-1%)	0mo	$117,000	$87	70
39 Elm St	0.60mi	3/1.0	1,366 (+0%)	2mo	$45,000	$33	68
167 Prospect St	0.32mi	3/2.0	1,448 (+6%)	8mo	$144,000	$99	66
23 Colfax Ave	0.02mi	3/2.0	1,561 (+15%)	8mo	$72,000	$46	66
53 Thorp St	0.43mi	3/1.5	1,445 (+6%)	8mo	$135,000	$93	62
6 Aberystwyth Pl	0.67mi	3/1.5	1,416 (+4%)	4mo	$166,000	$117	58
40.5 Julian St	0.30mi	3/1.5	1,528 (+12%)	8mo	$180,000	$118	58
134 Matthews St	0.67mi	3/1.0	1,239 (-9%)	5mo	$144,000	$116	48
37 Spring Forest Ave	0.57mi	2/1.0 (-1)	1,190 (-12%)	0mo	$135,000	$113	45
88 Crestmont Rd	0.67mi	4/2.0 (+1)	1,268 (-7%)	7mo	$193,000	$152	44
118 Helen St	0.68mi	2/1.0 (-1)	1,260 (-7%)	6mo	$158,000	$125	44
22 Park St	0.75mi	3/1.0	1,200 (-12%)	2mo	$175,257	$146	42

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-3,470
• Equity at exit: $20,114

10-year hold

• IRR: 13.0%
• Equity multiple: 2.32×
• Total profit: $49,894
• Equity at exit: $11,664

Cash invested: $37,772 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,667 high
• Mortgage (P&I): −$707
• Tax from tax record: −$406 /mo · $4,872/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $148

Break-even live

Break-even rent $1,481

Max offer price $134,900

Occupancy floor 86%

Sensitivity live

Price	-10% $224	-5% $186	+0% $148	+5% $110	+10% $71
Rent	-10% $16	-5% $82	+0% $148	+5% $214	+10% $279
Rate	-1.0pp $216	-0.5pp $182	base $148	+0.5pp $113	+1.0pp $77

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
263 Main St Binghamton, NY	2.0	1.0	920	$1,200	$1.30	14d	1	0.36mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	44d	1	0.40mi
36 Haendel St Unit Second Floor Binghamton, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.40mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	14d	1	0.45mi
296 Main St Unit 6 Binghamton, NY	3.0	1.0	1200	$1,250	$1.04	14d	1	0.46mi
133 Crestmont Rd Unit 2 Binghamton, NY	3.0	1.0	1300	$1,900	$1.46	44d	1	0.50mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	44d	1	0.57mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	44d	1	0.62mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	44d	1	0.63mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	0.64mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	22d	1	0.69mi
99 Helen St Unit 2 Binghamton, NY	3.0	1.0	1220	$1,600	$1.31	44d	1	0.71mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	44d	1	0.71mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	44d	1	0.71mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	44d	1	0.71mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	44d	1	0.79mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	44d	1	0.82mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	22d	1	0.85mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	44d	1	0.96mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	14d	1	0.98mi
127 Burbank Ave Unit 2 Johnson City, NY	2.0	1.0	1032	$1,000	$0.97	22d	1	1.04mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	44d	1	1.09mi
145 Floral Ave Unit 4 Johnson City, NY	3.0	1.0	1095	$1,250	$1.14	22d	1	1.14mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	44d	1	1.26mi
248 Main St Unit 2 Johnson City, NY	2.0	1.0	1650	$1,650	$1.00	14d	1	1.28mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	44d	1	1.28mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	44d	1	1.38mi
436 Glenwood Rd Binghamton, NY	1.0–2.0	1.0–1.5	1100	$1,360	$1.24	14d	1	1.41mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	44d	1	1.45mi
207 Saint Charles St #2 Johnson City, NY	2.0	1.0	925	$1,250	$1.35	22d	1	1.46mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	44d	1	1.49mi

Listing history 11 events

1. 2026-06-01
   days on market $134,900 Active 168 DOM
2. 2026-05-31
   days on market $134,900 Active 167 DOM
3. 2026-05-30
   days on market $134,900 Active 166 DOM
4. 2026-04-18
   price $134,900 257-char remark

   Show marketing remark (257 chars)

   Come relax on this enclosed front porch or enjoy the patio out back looking out at your large backyard. There are hardwood floors under the carpets. There are 3 bedrooms with 2 smaller rooms without closets that can be used as a bedroom, office or playroom.

5. 2026-03-30
   price $139,900 257-char remark

   Show marketing remark (257 chars)

   Come relax on this enclosed front porch or enjoy the patio out back looking out at your large backyard. There are hardwood floors under the carpets. There are 3 bedrooms with 2 smaller rooms without closets that can be used as a bedroom, office or playroom.

6. 2026-03-18
   price $144,900 257-char remark

   Show marketing remark (257 chars)

   Come relax on this enclosed front porch or enjoy the patio out back looking out at your large backyard. There are hardwood floors under the carpets. There are 3 bedrooms with 2 smaller rooms without closets that can be used as a bedroom, office or playroom.

7. 2026-03-03
   price $149,900 257-char remark

   Show marketing remark (257 chars)

   Come relax on this enclosed front porch or enjoy the patio out back looking out at your large backyard. There are hardwood floors under the carpets. There are 3 bedrooms with 2 smaller rooms without closets that can be used as a bedroom, office or playroom.

8. 2026-01-30
   price $154,900 257-char remark

   Show marketing remark (257 chars)

   Come relax on this enclosed front porch or enjoy the patio out back looking out at your large backyard. There are hardwood floors under the carpets. There are 3 bedrooms with 2 smaller rooms without closets that can be used as a bedroom, office or playroom.

9. 2026-01-14
   price $159,900 257-char remark

   Show marketing remark (257 chars)

   Come relax on this enclosed front porch or enjoy the patio out back looking out at your large backyard. There are hardwood floors under the carpets. There are 3 bedrooms with 2 smaller rooms without closets that can be used as a bedroom, office or playroom.

10. 2025-12-15
    listed $164,900 Active 257-char remark

    Show marketing remark (257 chars)

    Come relax on this enclosed front porch or enjoy the patio out back looking out at your large backyard. There are hardwood floors under the carpets. There are 3 bedrooms with 2 smaller rooms without closets that can be used as a bedroom, office or playroom.

11. 2008-12-15
    soldstatus $54,900

ⓘ 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: $4,872 · $406/mo
• Projected year-2 tax: $4,872 · $406/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°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: $20,010
• − Mortgage interest: −$7,556
• − Property taxes: −$4,872
• − Insurance: −$674
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − Depreciation: −$3,924
• Taxable loss: −$219
• Est. tax savings @ 24.0%: +$53
• After-tax cash flow: $1,825/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

+145.7% since first listed

8 events — show timeline

• 2026-04-18 Price Changed $134,900 GBAOR
• 2026-03-30 Price Changed $139,900 GBAOR
• 2026-03-18 Price Changed $144,900 GBAOR
• 2026-03-03 Price Changed $149,900 GBAOR
• 2026-01-30 Price Changed $154,900 GBAOR
• 2026-01-14 Price Changed $159,900 GBAOR
• 2025-12-15 Listed $164,900 GBAOR
• 2008-12-15 Sold (Public Records) $54,900 Public Records

Property tax history

+6.9%/yr

Latest (2025): $4,872 · +0.9% YoY. Source: county tax records.