20 Cypress St St · Binghamton, NY 13905

$159,000

5 bd · 3.0 ba · 2,291 sqft · MultiFamily public records · 19 Days on market

Built 1890 5,600 ac lot Est $147k · 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
• Livability +3.9/5.0
• ARV discount +3.7/15.0
• 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: 3 units. confirmed

Listing remarks

Welcome to 20 Cypress!! This is a great opportunity to own a 3 family investment property, fully occupied, with good rental income!!! Located in the first ward of the City of Binghamton, this is the perfect addition to your investment portfolio! New updates & renovations to all 3 apartments, as well as updated furnaces and hot water tanks. A lot of great upside of this property! Schedule a showing today!!!

Key facts

• Updated furnaces
• Good rental income
• Hot water tanks

Tags

• FULLY OCCUPIED
• GOOD RENTAL INCOME
• NEW UPDATES
• RENOVATIONS TO APARTMENTS
• UPDATED FURNACES
• HOT WATER TANKS

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Triplex residential income property
• Construction: Vinyl siding
• Exterior features: Covered porch

Interior

• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Gas water heater; Basement

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $159k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $650/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $159k).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.0% 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: Woodrow Wilson School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 352 students, 76% FRL) — zoned schools average 76% FRL vs 61% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 37% district-wide (-20 pts) — the specific schools serving this property underperform the Binghamton City School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $36k; list at $159k implies a 342% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $156,615 (1.5% below list)

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 1890 — 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. 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 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: 2.56% ✓
• Cap rate: 21.00%
• Cash-on-cash: 52.54%
• DSCR: 3.34
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $146,624
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20 Elm St	0.16mi	6/2.0 (+1)	2,304 (+1%)	8mo	$171,000	$74	76
200 Murray St	0.27mi	6/2.0 (+1)	2,442 (+7%)	8mo	$92,500	$38	61
198 Chapin St	0.51mi	5/3.0	2,146 (-6%)	8mo	$193,000	$90	59
198 Chapin St #2	0.51mi	5/3.0	2,145 (-6%)	8mo	$193,000	$90	59
27 Mather St	0.60mi	4/2.0 (-1)	2,182 (-5%)	1mo	$185,000	$85	54
117 Walnut Street St	0.57mi	4/2.0 (-1)	2,422 (+6%)	2mo	$55,000	$23	53
70 Thorp St	0.69mi	4/2.0 (-1)	2,368 (+3%)	8mo	$35,000	$15	47
16-14 Lydia St	0.23mi	4/2.0 (-1)	2,596 (+13%)	17mo	$131,440	$51	44
103 Walnut St	0.63mi	5/4.0	2,406 (+5%)	19mo	$45,150	$19	42
11 St Cyril Ave	0.41mi	4/3.0 (-1)	1,963 (-14%)	18mo	$55,000	$28	37
8 Holland St	0.71mi	4/2.0 (-1)	2,506 (+9%)	16mo	$190,000	$76	29
241 Prospect St	0.75mi	4/2.0 (-1)	2,028 (-12%)	10mo	$130,000	$64	29

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: 56.4%
• Equity multiple: 3.70×
• Total profit: $120,036
• Equity at exit: $23,707

10-year hold

• IRR: 63.3%
• Equity multiple: 9.15×
• Total profit: $362,886
• Equity at exit: $13,747

Cash invested: $44,520 (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: 9.8×

Monthly cashflow live

• Estimated rent: $4,068 high
• Mortgage (P&I): −$834
• Tax from tax record: −$365 /mo · $4,375/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$854
• Net cashflow: $1,949

Break-even live

Break-even rent $1,601

Max offer price $159,000

Occupancy floor 47%

Sensitivity live

Price	-10% $2,039	-5% $1,994	+0% $1,949	+5% $1,904	+10% $1,859
Rent	-10% $1,628	-5% $1,788	+0% $1,949	+5% $2,110	+10% $2,270
Rate	-1.0pp $2,029	-0.5pp $1,990	base $1,949	+0.5pp $1,908	+1.0pp $1,866

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$4,068
Total (3 units)			$4,068

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	45d	1	0.67mi
2 Chapel Pl Binghamton, NY	6.0	3.0	2600	$650	$0.25	45d	1	0.93mi
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	14d	1	1.03mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	45d	1	1.06mi
44 Leroy St Binghamton, NY	6.0	2.0	1772	$3,000	$1.69	22d	1	1.07mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	45d	1	1.09mi
16 Highland Ave Unit 2 Binghamton, NY	6.0	1.0	2000	$2,750	$1.38	45d	1	1.17mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	45d	1	1.18mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	45d	1	1.26mi
13 Chapin St Binghamton, NY	4.0	3.0	2452	$4,000	$1.63	45d	1	1.41mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	14d	1	1.42mi
607 Chenango St Binghamton, NY	5.0	2.5	2500	$2,800	$1.12	14d	1	1.42mi

Listing history 14 events

1. 2026-06-21
   days on market $159,000 Active 19 DOM
2. 2026-06-19
   days on market $159,000 Active 17 DOM
3. 2026-06-18
   days on market $159,000 Active 16 DOM
4. 2026-06-17
   days on market $159,000 Active 15 DOM
5. 2026-06-16
   days on market $159,000 Active 14 DOM
6. 2026-06-15
   days on market $159,000 Active 13 DOM
7. 2026-06-14
   days on market $159,000 Active 11 DOM
8. 2026-06-13
   days on market $159,000 Active 10 DOM
9. 2026-06-10
   days on market $159,000 Active 8 DOM
10. 2026-06-09
    days on market $159,000 Active 7 DOM
11. 2026-06-08
    days on market $159,000 Active 6 DOM
12. 2026-06-07
    days on market $159,000 Active 5 DOM
13. 2026-06-03
    remarks 414-char remark
14. 2026-06-03
    listed $159,000 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: $4,375 · $365/mo
• Projected year-2 tax: $4,375 · $365/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 7 d/yr ≥94°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: $48,816
• − Mortgage interest: −$8,906
• − Property taxes: −$4,375
• − Insurance: −$795
• − Repairs & maintenance: −$3,905
• − Management: −$3,905
• − Depreciation: −$4,625
• Taxable income: $22,304
• Est. tax owed @ 24.0%: −$5,353
• After-tax cash flow: $18,036/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

+893.8% since first listed

6 events — show timeline

• 2026-06-02 Listed $159,000 GBAOR
• 2025-09-09 Price Changed $165,000 GBAOR
• 2025-04-02 Listed $185,000 GBAOR
• 2021-08-20 Sold (Public Records) $36,000 Public Records
• 2018-05-08 Listed $124,900 GBAOR
• 2009-06-12 Sold (Public Records) $16,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,375 · +0.9% YoY. Source: county tax records.