81 Baldwin St · Binghamton, NY 13903

$198,000

4 bd · 3.0 ba · 2,350 sqft · MultiFamily public records · 80 Days on market

Built 1950 4,368 sqft lot Est $282k · 30% 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 +15.0/15.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

3 Family Moneymaker In the Southside of Binghamton. Great investment opportunity to purchase this fully detached 3 family in the Heart of Broome county. The property features a total of 2300 sq ft of living space on the 2nd fl apartment features a 2bedroom box Rooms 1 full bath month to month lease income of $950 with upside potential. The 2nd unit which is on the 1st fl features 600 sq ft of living space it a 1 bedroom apartment that features a newly renovated kitchen spacious living room, fully tiled bath 1box rooms with lots of closets, Tenant pays $775 on a month-to-month lease. The 3rd unit is also on the 1st fl front unit also features 600 sq ft of living space 1 bedroom Living room Eat in Kitchen full bath at $700.Spacious Back Yard. new furnaces new water tank well maintained property with very low maintenance the property sits on a 51x78 lot. Also including the lot being sold as a package which is 79 Baldwin st lot size 52x84 build an additional 2 Family unit right next door. 3 apartments have no lease with very low expenses Close to all shops and transportation only minutes from the all major highways only 10 minute into Downtown.

Key facts

• Fully detached
• New water tank
• Spacious back yard

Tags

• FULLY DETACHED
• NEWLY RENOVATED KITCHEN
• SPACIOUS BACK YARD
• NEW FURNACES
• NEW WATER TANK
• WELL MAINTAINED PROPERTY

🏷️ Possibly a rental listed for sale. The $198,000 price doesn't fit this home's estimated sale value (~$282,200) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/6.0-bath units multifamily listed at $198k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $605/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $198k).
• Recommended offer: $186k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.6% 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: 112 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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 $55k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y 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 $19k; list at $198k implies a 942% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 2.25% ✓
• Cap rate: 17.63%
• Cash-on-cash: 40.50%
• DSCR: 2.80
• GRM: 3.7

CMA / ARV

• ARV (median comp): $282,200
• List price: $198,000
• Delta: -29.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28 Jackson St	0.22mi	5/2.0 (+1)	2,208 (-6%)	2mo	$100,000	$45	69
10 1/2 The Arena St	0.14mi	4/2.0	2,518 (+7%)	12mo	$82,000	$33	67
19 Moeller St	0.71mi	5/2.0 (+1)	2,356 (+0%)	4mo	$140,000	$59	54
12 Jay St	0.73mi	4/2.0	2,316 (-1%)	7mo	$130,000	$56	53
14 Tompkins St	0.34mi	4/2.0	2,536 (+8%)	19mo	$33,600	$13	51
14 Evans St	0.51mi	5/2.0 (+1)	2,350 (0%)	22mo	$135,000	$57	49
12 Birch St	0.64mi	4/2.0	2,292 (-2%)	20mo	$135,150	$59	45
30 Telegraph St	0.62mi	4/2.0	2,116 (-10%)	15mo	$129,900	$61	38
169 Hawley St	0.64mi	4/2.0	2,170 (-8%)	22mo	$42,000	$19	35
22 Hancock St	0.64mi	5/2.0 (+1)	2,028 (-14%)	11mo	$125,000	$62	29
132 Hawley St	0.74mi	4/—	2,024 (-14%)	22mo	$52,500	$26	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 54.7%
• Equity multiple: 5.04×
• Total profit: $223,744
• Equity at exit: $178,374

10-year hold

• IRR: 48.3%
• Equity multiple: 11.25×
• Total profit: $568,487
• Equity at exit: $384,670

Cash invested: $55,440 (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 13903

• Home prices YoY: 4.3%
• Active inventory: 112
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $4,446 medium
• Mortgage (P&I): −$1,038
• Tax from tax record: −$520 /mo · $6,244/yr
• Insurance: −$82
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$934
• Net cashflow: $1,816

Break-even live

Break-even rent $2,148

Max offer price $198,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,928	-5% $1,872	+0% $1,816	+5% $1,760	+10% $1,704
Rent	-10% $1,464	-5% $1,640	+0% $1,816	+5% $1,991	+10% $2,167
Rate	-1.0pp $1,915	-0.5pp $1,866	base $1,816	+0.5pp $1,764	+1.0pp $1,712

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	6	$4,446
Total (3 units)			$4,446

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: $49,500
• Closing costs: $5,940
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
51 2nd St Binghamton, NY	3.0	2.5	2333	$2,200	$0.94	13d	1	0.08mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	0.78mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	44d	1	0.83mi
100 Felters Rd Binghamton, NY	4.0	2.5	2000	$2,500	$1.25	44d	1	1.01mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	44d	1	1.47mi

Listing history 32 events

1. 2026-06-19
   days on market $198,000 Active 80 DOM
2. 2026-06-18
   days on market $198,000 Active 79 DOM
3. 2026-06-17
   days on market $198,000 Active 78 DOM
4. 2026-06-16
   days on market $198,000 Active 77 DOM
5. 2026-06-15
   days on market $198,000 Active 76 DOM
6. 2026-06-14
   days on market $198,000 Active 74 DOM
7. 2026-06-13
   days on market $198,000 Active 73 DOM
8. 2026-06-10
   days on market $198,000 Active 71 DOM
9. 2026-06-09
   days on market $198,000 Active 70 DOM
10. 2026-06-08
    days on market $198,000 Active 69 DOM
11. 2026-06-07
    days on market $198,000 Active 68 DOM
12. 2026-06-03
    days on market $198,000 Active 64 DOM
13. 2026-06-02
    days on market $198,000 Active 63 DOM
14. 2026-06-01
    days on market $198,000 Active 62 DOM
15. 2026-05-31
    days on market $198,000 Active 61 DOM
16. 2026-05-30
    days on market $198,000 Active 60 DOM
17. 2026-03-31
    listed $198,000 Active 1158-char remark

    Show marketing remark (1158 chars)

    3 Family Moneymaker In the Southside of Binghamton. Great investment opportunity to purchase this fully detached 3 family in the Heart of Broome county. The property features a total of 2300 sq ft of living space on the 2nd fl apartment features a 2bedroom box Rooms 1 full bath month to month lease income of $950 with upside potential. The 2nd unit which is on the 1st fl features 600 sq ft of living space it a 1 bedroom apartment that features a newly renovated kitchen spacious living room, fully tiled bath 1box rooms with lots of closets, Tenant pays $775 on a month-to-month lease. The 3rd unit is also on the 1st fl front unit also features 600 sq ft of living space 1 bedroom Living room Eat in Kitchen full bath at $700.Spacious Back Yard. new furnaces new water tank well maintained property with very low maintenance the property sits on a 51x78 lot. Also including the lot being sold as a package which is 79 Baldwin st lot size 52x84 build an additional 2 Family unit right next door. 3 apartments have no lease with very low expenses Close to all shops and transportation only minutes from the all major highways only 10 minute into Downtown.

18. 2025-11-11
    historical
19. 2025-10-22
    status Active
20. 2025-08-11
    listed $195,000 Active
21. 2025-06-05
    status Active
22. 2025-05-06
    status Pending
23. 2025-04-24
    listed $195,000 Active
24. 2024-12-27
    historical $800
25. 2024-12-25
    price $800
26. 2024-12-19
    listed $850
27. 2024-11-06
    historical
28. 2024-07-10
    price $185,000
29. 2024-05-13
    listed $190,000 Active
30. 2016-03-21
    soldstatus $19,000
31. 2015-10-16
    listed $27,500
32. 2005-01-19
    soldstatus $62,803

ⓘ 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: $6,244 · $520/mo
• Projected year-2 tax: $6,244 · $520/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 7/10 Severe FEMA zone X · 99% 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 2% 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: $53,352
• − Mortgage interest: −$11,091
• − Property taxes: −$6,244
• − Insurance: −$1,656
• − Repairs & maintenance: −$4,268
• − Management: −$4,268
• − Depreciation: −$5,760
• Taxable income: $20,064
• Est. tax owed @ 24.0%: −$4,815
• After-tax cash flow: $16,972/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): 17,569
• Household income: $66,278
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 602.0

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% Black 9% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Romanian 6% Slovak 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Arabic 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: ▲ 11.68%
• Current HPI: 286.1001
• 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

+215.3% since first listed

16 events — show timeline

• 2026-03-31 Listed $198,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-11 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-22 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-11 Listed $195,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-05-06 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-04-24 Listed $195,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-27 Rental Removed $800 TURBOTENANT
• 2024-12-25 Price Changed $800 TURBOTENANT
• 2024-12-19 Listed for Rent $850 TURBOTENANT
• 2024-11-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-07-10 Price Changed $185,000 OneKey® MLS as Distributed by MLS Grid
• 2024-05-13 Listed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2016-03-21 Sold (MLS) $19,000 GBAOR
• 2015-10-16 Listed $27,500 GBAOR
• 2005-01-19 Sold (Public Records) $62,803 Public Records

Property tax history

+4.7%/yr

Latest (2025): $6,244 · +0.9% YoY. Source: county tax records.