31 Woodland Ave · Binghamton, NY 13903

$155,000

3 bd · 2.0 ba · 1,371 sqft · MultiFamily public records · 285 Days on market

Built 1940 0.35 ac lot $113/sqft · 27% below area Est $212k · 27% under

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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 +18.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +8.6/10.0
• DSCR +5.8/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Come see this beautifully remodeled cape cod with new flooring, freshly repainted throughout, and an updated kitchen. You'll enjoy lounging around on your open patio with a large, fenced backyard or watching the scenic surroundings from your large, open deck over the garage with NEW flooring installed! Enjoy short trips to the Zoo, along with shopping, and medical facilities nearby! And a short drive to cross over the river to Downtown Binghamton to enjoy all the restaurants and night life! Contact your favorite real estate salesperson and come take a look today!

Key facts

• Open deck
• Open patio
• Updated kitchen

Tags

• REMODELED CAPE COD
• UPDATED KITCHEN
• OPEN PATIO
• LARGE FENCED BACKYARD
• OPEN DECK
• SCENIC SURROUNDINGS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (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: 112 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% 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 38% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k 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 $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 285 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $24k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $155k implies a 675% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.9% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 285 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 1940 — 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 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: 1.36% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.01%
• DSCR: 1.18
• GRM: 6.1

CMA / ARV

• ARV (median comp): $212,307
• List price: $155,000
• Delta: -26.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Hotchkiss St	0.43mi	3/3.0	1,368 (-0%)	15mo	$143,000	$105	63
51 Tremont Ave	0.69mi	4/2.0 (+1)	1,440 (+5%)	4mo	$70,000	$49	51
29 Pearl Ave	0.53mi	3/2.0	1,440 (+5%)	22mo	$143,000	$99	49
45 Rush Ave	0.74mi	2/2.0 (-1)	1,248 (-9%)	18mo	$85,000	$68	30

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: 27.3%
• Equity multiple: 3.17×
• Total profit: $93,967
• Equity at exit: $139,636

10-year hold

• IRR: 23.9%
• Equity multiple: 7.22×
• Total profit: $270,055
• Equity at exit: $301,131

Cash invested: $43,400 (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: 11.8×

Monthly cashflow live

• Estimated rent: $2,103 high
• Mortgage (P&I): −$813
• Tax from tax record: −$639 /mo · $7,666/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $145

Break-even live

Break-even rent $1,919

Max offer price $155,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,095
1× unit	1	1	$1,008
Total (2 units)			$2,103

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	43d	1	0.13mi
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	13d	1	0.65mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	43d	1	0.84mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	13d	1	1.01mi
80 State St Unit A 3-1 3 Bed Binghamton, NY	3.0	3.0	900	$900	$1.00	43d	1	1.37mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	43d	1	1.38mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	43d	1	1.41mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	43d	1	1.47mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	43d	1	1.49mi

Listing history 9 events

1. 2026-04-13
   status Active 572-char remark

   Show marketing remark (572 chars)

   Come see this beautifully remodeled cape cod with new flooring, freshly repainted throughout, and an updated kitchen. You'll enjoy lounging around on your open patio with a large, fenced backyard or watching the scenic surroundings from your large, open deck over the garage with NEW flooring installed! Enjoy short trips to the Zoo, along with shopping, and medical facilities nearby! And a short drive to cross over the river to Downtown Binghamton to enjoy all the restaurants and night life! Contact your favorite real estate salesperson and come take a look today!

2. 2026-04-10
   historical Active Under Contract 572-char remark

   Show marketing remark (572 chars)

   Come see this beautifully remodeled cape cod with new flooring, freshly repainted throughout, and an updated kitchen. You'll enjoy lounging around on your open patio with a large, fenced backyard or watching the scenic surroundings from your large, open deck over the garage with NEW flooring installed! Enjoy short trips to the Zoo, along with shopping, and medical facilities nearby! And a short drive to cross over the river to Downtown Binghamton to enjoy all the restaurants and night life! Contact your favorite real estate salesperson and come take a look today!

3. 2026-03-18
   status Pending 572-char remark

   Show marketing remark (572 chars)

   Come see this beautifully remodeled cape cod with new flooring, freshly repainted throughout, and an updated kitchen. You'll enjoy lounging around on your open patio with a large, fenced backyard or watching the scenic surroundings from your large, open deck over the garage with NEW flooring installed! Enjoy short trips to the Zoo, along with shopping, and medical facilities nearby! And a short drive to cross over the river to Downtown Binghamton to enjoy all the restaurants and night life! Contact your favorite real estate salesperson and come take a look today!

4. 2026-01-09
   price $155,000 572-char remark

   Show marketing remark (572 chars)

   Come see this beautifully remodeled cape cod with new flooring, freshly repainted throughout, and an updated kitchen. You'll enjoy lounging around on your open patio with a large, fenced backyard or watching the scenic surroundings from your large, open deck over the garage with NEW flooring installed! Enjoy short trips to the Zoo, along with shopping, and medical facilities nearby! And a short drive to cross over the river to Downtown Binghamton to enjoy all the restaurants and night life! Contact your favorite real estate salesperson and come take a look today!

5. 2025-09-02
   price $159,000 572-char remark

   Show marketing remark (572 chars)

   Come see this beautifully remodeled cape cod with new flooring, freshly repainted throughout, and an updated kitchen. You'll enjoy lounging around on your open patio with a large, fenced backyard or watching the scenic surroundings from your large, open deck over the garage with NEW flooring installed! Enjoy short trips to the Zoo, along with shopping, and medical facilities nearby! And a short drive to cross over the river to Downtown Binghamton to enjoy all the restaurants and night life! Contact your favorite real estate salesperson and come take a look today!

6. 2025-08-15
   price $169,000 572-char remark

   Show marketing remark (572 chars)

   Come see this beautifully remodeled cape cod with new flooring, freshly repainted throughout, and an updated kitchen. You'll enjoy lounging around on your open patio with a large, fenced backyard or watching the scenic surroundings from your large, open deck over the garage with NEW flooring installed! Enjoy short trips to the Zoo, along with shopping, and medical facilities nearby! And a short drive to cross over the river to Downtown Binghamton to enjoy all the restaurants and night life! Contact your favorite real estate salesperson and come take a look today!

7. 2025-07-25
   listed $179,000 Active 572-char remark

   Show marketing remark (572 chars)

   Come see this beautifully remodeled cape cod with new flooring, freshly repainted throughout, and an updated kitchen. You'll enjoy lounging around on your open patio with a large, fenced backyard or watching the scenic surroundings from your large, open deck over the garage with NEW flooring installed! Enjoy short trips to the Zoo, along with shopping, and medical facilities nearby! And a short drive to cross over the river to Downtown Binghamton to enjoy all the restaurants and night life! Contact your favorite real estate salesperson and come take a look today!

8. 2020-01-30
   soldstatus $20,000 346-char remark

   Show marketing remark (346 chars)

   HUGE PRICE DROP-Excellent location. Cozy Cape Cod with efficiency apartment on the 2nd floor. With some vision and renovations this property is great for those who want some extra rental income. Needs work to make habitable. Sold "as-is", CASH offers only, POF required. * Property is being sold subject to HUD Guidelines 24 CFR206.125.

9. 2019-10-11
   listed $18,000 346-char remark

   Show marketing remark (346 chars)

   HUGE PRICE DROP-Excellent location. Cozy Cape Cod with efficiency apartment on the 2nd floor. With some vision and renovations this property is great for those who want some extra rental income. Needs work to make habitable. Sold "as-is", CASH offers only, POF required. * Property is being sold subject to HUD Guidelines 24 CFR206.125.

ⓘ 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: $7,666 · $639/mo
• Projected year-2 tax: $7,666 · $639/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 ≥92°F today · 15 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: $25,236
• − Mortgage interest: −$8,682
• − Property taxes: −$7,666
• − Insurance: −$775
• − Repairs & maintenance: −$2,019
• − Management: −$2,019
• − Depreciation: −$4,509
• Taxable loss: −$434
• Est. tax savings @ 24.0%: +$104
• After-tax cash flow: $1,846/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

+761.1% since first listed

9 events — show timeline

• 2026-04-13 Relisted — GBAOR
• 2026-04-10 Contingent — GBAOR
• 2026-03-18 Pending — GBAOR
• 2026-01-09 Price Changed $155,000 GBAOR
• 2025-09-02 Price Changed $159,000 GBAOR
• 2025-08-15 Price Changed $169,000 GBAOR
• 2025-07-25 Listed $179,000 GBAOR
• 2020-01-30 Sold (MLS) $20,000 GBAOR
• 2019-10-11 Listed $18,000 GBAOR

Property tax history

+18.0%/yr

Latest (2025): $7,666 · +0.9% YoY. Source: county tax records.