28 Stuyvesant St St · Binghamton, NY 13901

$189,900

4 bd · 2.0 ba · 2,558 sqft · MultiFamily public records · 23 Days on market

Built 1920 7,840 sqft lot Est $146k · 30% over

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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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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 duplex investment opportunity in Downtown Binghamton generating $3,000/month in rental income. Tenants pay separate utilities, helping minimize owner expenses. Property includes a detached 2-car garage, plenty of off-street parking, yard space, and covered back porches. Conveniently located near Downtown Binghamton, public transportation, shopping, dining, and local universities. Opportunity to purchase individually or as part of a larger multi-property investment portfolio with 21,23,26 and 27 Stuyvesant St.

Key facts

• Covered back porches
• Off-street parking
• Yard space

Tags

• DETACHED 2-CAR GARAGE
• OFF-STREET PARKING
• YARD SPACE
• COVERED BACK PORCHES
• NEAR DOWNTOWN BINGHAMTON
• PUBLIC TRANSPORTATION

Property features AI

Finance

• Financial info: Two rental units with reported rents of $1,000 and $1,117

Exterior

• Parking: Detached oversized 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential income property; Duplex; Level lot; Facing direction not specified
• Construction: Vinyl siding; Above-grade finished area reported
• Exterior features: Covered porch

Interior

• Flooring: Hardwood flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Ceiling fans
• Interior features: Gas water heater; Basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive. Per door: $317/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: Macarthur School (math 17% / reading 37%, grade F, #1,786 of 2,108 statewide, top 86%, 398 students, 62% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 92 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).
• At $2,634/mo this rent would consume 57% of the median local household income ($56k/yr) (locally 1230% 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 $1k of loan paydown is wiped out by about $6k 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 + 3.0% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y 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 $45k; list at $190k implies a 322% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,051 (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 1920 — 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: 1.39% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.29%
• DSCR: 1.64
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $145,806
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Jay St	0.13mi	4/2.0	2,316 (-10%)	7mo	$130,000	$56	72
14 Tompkins St	0.34mi	4/2.0	2,536 (-1%)	19mo	$33,600	$13	67
14 Emmett St	0.48mi	4/2.0	2,220 (-13%)	4mo	$90,000	$41	52
28 Jackson St	0.40mi	5/2.0 (+1)	2,208 (-14%)	2mo	$100,000	$45	52
2 Munsell St	0.54mi	4/2.0	2,392 (-6%)	20mo	$115,000	$48	47
33 Doubleday St #2	0.46mi	5/2.0 (+1)	2,727 (+7%)	20mo	$198,776	$73	46
19 Mcnamara Ave	0.70mi	5/2.0 (+1)	2,688 (+5%)	12mo	$200,000	$74	44
12 Birch St	0.51mi	4/2.0	2,292 (-10%)	20mo	$135,150	$59	42
114 Conklin Ave	0.48mi	5/4.0 (+1)	2,822 (+10%)	10mo	$176,000	$62	39
14 Evans St	0.53mi	5/2.0 (+1)	2,350 (-8%)	22mo	$135,000	$57	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.18×
• Total profit: $9,670
• Equity at exit: $28,315

10-year hold

• IRR: 14.2%
• Equity multiple: 2.14×
• Total profit: $60,837
• Equity at exit: $16,419

Cash invested: $53,172 (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 13901

• Home prices YoY: -5.1%
• Active inventory: 92
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $2,634 high
• Mortgage (P&I): −$996
• Tax from tax record: −$373 /mo · $4,474/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $633

Break-even live

Break-even rent $1,833

Max offer price $189,900

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,634
Total (2 units)			$2,634

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	0.54mi
51 2nd St Binghamton, NY	3.0	2.5	2333	$2,200	$0.94	13d	1	0.67mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	43d	1	0.87mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	43d	1	1.18mi
13 Chapin St Binghamton, NY	4.0	3.0	2452	$4,000	$1.63	43d	1	1.28mi

Listing history 23 events

1. 2026-06-19
   days on market $189,900 Active 23 DOM
2. 2026-06-18
   days on market $189,900 Active 22 DOM
3. 2026-06-17
   days on market $189,900 Active 21 DOM
4. 2026-06-16
   days on market $189,900 Active 20 DOM
5. 2026-06-15
   days on market $189,900 Active 19 DOM
6. 2026-06-14
   days on market $189,900 Active 17 DOM
7. 2026-06-13
   days on market $189,900 Active 16 DOM
8. 2026-06-10
   days on market $189,900 Active 14 DOM
9. 2026-06-09
   days on market $189,900 Active 13 DOM
10. 2026-06-08
    days on market $189,900 Active 12 DOM
11. 2026-06-07
    remarks 527-char remark
12. 2026-06-07
    days on market $189,900 Active 11 DOM
13. 2026-06-03
    days on market $189,900 Active 7 DOM
14. 2026-06-02
    days on market $189,900 Active 6 DOM
15. 2026-06-01
    days on market $189,900 Active 5 DOM
16. 2026-05-31
    days on market $189,900 Active 4 DOM
17. 2026-05-30
    days on market $189,900 Active 3 DOM
18. 2026-05-27
    listed $189,900 Active
19. 2017-05-14
    listed $54,900
20. 2016-08-18
    listed $54,900
21. 2011-06-24
    soldstatus $45,000
22. 2006-10-04
    soldstatus $55,000
23. 2000-10-19
    listed $59,900

ⓘ 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: $4,474 · $373/mo
• Projected year-2 tax: $4,474 · $373/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: $31,608
• − Mortgage interest: −$10,637
• − Property taxes: −$4,474
• − Insurance: −$950
• − Repairs & maintenance: −$2,529
• − Management: −$2,529
• − Depreciation: −$5,524
• Taxable income: $4,965
• Est. tax owed @ 24.0%: −$1,192
• After-tax cash flow: $6,405/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): 19,613
• Household income: $55,523
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 1230.0

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% Two or more races 7% Hispanic / Latino 7% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 1% Italian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -16.13%
• Current HPI: 300.7692
• 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

+217.0% since first listed

6 events — show timeline

• 2026-05-27 Listed $189,900 GBAOR
• 2017-05-14 Listed $54,900 GBAOR
• 2016-08-18 Listed $54,900 GBAOR
• 2011-06-24 Sold (Public Records) $45,000 Public Records
• 2006-10-04 Sold (Public Records) $55,000 Public Records
• 2000-10-19 Listed $59,900 GBAOR

Property tax history

+4.1%/yr

Latest (2025): $4,474 · +0.9% YoY. Source: county tax records.