123 Mason Ave · Binghamton, NY 13904

$196,000

3 bd · 2.0 ba · 1,462 sqft · SingleFamily public records · 12 Days on market

Built 1910 8,276 sqft lot Est $164k · 20% over

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +3.9/30.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Fully refinished Cape Cod, 3 bedrooms, 2 full bathrooms. Finished walkout basement with bar, office & lots of storage. Beautiful deck & pergola overlooking Patriot's field & city. New roof, windows, furnace, & stainless steel appliances, refinished hardwood floors & carpeting throughout. 10x16 new shed, B-dry system & newer sump pump. A must see! Owner is relative of Lic. R. E. Salesperson

Key facts

• 8,276 sq ft lot
• Built 1910
• Listed 12 days

Property features AI

Finance

• Other: Sloped down lot; Lot dimensions approximately 75 x 113 (0.19 acres)

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered porch; Deck

Interior

• Kitchen: Cooktop; Range; Range hood; Microwave; Refrigerator; Dishwasher
• Bedrooms: Total of 11 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Ceiling fans for cooling
• Interior features: Washer and dryer included; Gas water heater; Range and cooktop with range hood; Microwave; Refrigerator; Walk-out basement access
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $196k.

Deal economics

• At list price, monthly cash flow is $-562 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (23.0% below list).
• Recommended offer: $151k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 2.9% vs local median 6.4% in Binghamton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Calvin Coolidge School (math 27% / reading 37%, grade F, #1,646 of 2,108 statewide, top 80%, 312 students, 72% FRL); Binghamton High School (math 71% / reading 79%, grade A-, #631 of 1,100 statewide, top 58%, 1,341 students, 69% FRL).
• Zoned-school proficiency averages 54% at this address vs 37% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Binghamton City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 41 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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.
• 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $112k; list at $196k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,927 (23.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.77% ✗
• Cap rate: 2.85%
• Cash-on-cash: -12.28%
• DSCR: 0.45
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $163,744
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Gaylord St	0.17mi	3/1.0	1,479 (+1%)	0mo	$215,000	$145	86
147 Bigelow St	0.12mi	3/1.5	1,372 (-6%)	5mo	$190,000	$138	78
159 Bigelow St	0.14mi	4/1.0 (+1)	1,377 (-6%)	1mo	$180,000	$131	74
55 Mason Ave	0.40mi	3/2.0	1,408 (-4%)	2mo	$152,000	$108	73
20 Willard St	0.60mi	3/2.0	1,449 (-1%)	2mo	$179,000	$124	69
66 Moeller St	0.33mi	4/2.0 (+1)	1,596 (+9%)	3mo	$152,500	$96	62
9 Whiting St	0.19mi	3/1.0	1,276 (-13%)	5mo	$170,000	$133	62
10 Burton Ave	0.61mi	3/1.5	1,424 (-3%)	5mo	$130,000	$91	61
19 Monroe St	0.44mi	3/1.0	1,656 (+13%)	1mo	$185,000	$112	53
20 East St	0.62mi	3/2.0	1,596 (+9%)	5mo	$167,000	$105	52
18 Riverside St	0.66mi	3/1.5	1,572 (+8%)	4mo	$170,000	$108	52
20 Bigelow St	0.63mi	3/2.0	1,624 (+11%)	4mo	$170,000	$105	49

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: 15.8%
• Equity multiple: 2.30×
• Total profit: $71,235
• Equity at exit: $176,572

10-year hold

• IRR: 15.3%
• Equity multiple: 5.34×
• Total profit: $238,446
• Equity at exit: $380,785

Cash invested: $54,880 (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 13904

• Home prices YoY: 17.1%
• Active inventory: 41
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,509 high
• Mortgage (P&I): −$1,028
• Tax from tax record: −$645 /mo · $7,735/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $-562

Break-even live

Break-even rent $2,220

Max offer price $154,703

Occupancy floor —

Sensitivity live

Price	-10% $-451	-5% $-506	+0% $-562	+5% $-617	+10% $-673
Rent	-10% $-681	-5% $-621	+0% $-562	+5% $-502	+10% $-443
Rate	-1.0pp $-463	-0.5pp $-512	base $-562	+0.5pp $-613	+1.0pp $-664

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: $49,000
• Closing costs: $5,880
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Dennison Ave Unit 2 Binghamton, NY	2.0	1.0	1100	$1,150	$1.05	45d	1	0.84mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	23d	1	0.88mi
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	45d	1	0.88mi
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	15d	1	0.92mi
40 Fuller St Unit 40A Binghamton, NY	3.0	2.0	1600	$2,700	$1.69	23d	1	1.05mi
26 Doubleday St Binghamton, NY	2.0	1.0	1000	$1,350	$1.35	45d	1	1.17mi
27 Tompkins St Unit 10 Binghamton, NY	2.0	1.0	950	$1,050	$1.11	23d	1	1.24mi
27 Tompkins St Unit 9 Binghamton, NY	2.0	1.0	950	$950	$1.00	45d	1	1.24mi

Listing history 6 events

1. 2026-04-20
   status Pending
2. 2026-04-08
   listed $196,000 Active
3. 2014-08-11
   soldstatus $111,702
4. 2014-08-07
   soldstatus $111,702 427-char remark

   Show marketing remark (427 chars)

   Fully refinished Cape Cod, 3 bedrooms, 2 full bathrooms. Finished walkout basement with bar, office & lots of storage. Beautiful deck & pergola overlooking Patriot's field & city. New roof, windows, furnace, & stainless steel appliances, refinished hardwood floors & carpeting throughout. 10x16 new shed, B-dry system & newer sump pump. A must see! Owner is relative of Lic. R. E. Salesperson

5. 2014-03-17
   listed $109,900 427-char remark

   Show marketing remark (427 chars)

   Fully refinished Cape Cod, 3 bedrooms, 2 full bathrooms. Finished walkout basement with bar, office & lots of storage. Beautiful deck & pergola overlooking Patriot's field & city. New roof, windows, furnace, & stainless steel appliances, refinished hardwood floors & carpeting throughout. 10x16 new shed, B-dry system & newer sump pump. A must see! Owner is relative of Lic. R. E. Salesperson

6. 2008-10-09
   soldstatus $58,500

ⓘ 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: $7,735 · $645/mo
• Projected year-2 tax: $7,735 · $645/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $18,111
• − Mortgage interest: −$10,979
• − Property taxes: −$7,735
• − Insurance: −$980
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − Depreciation: −$5,702
• Taxable loss: −$10,183
• Est. tax savings @ 24.0%: +$2,444
• After-tax cash flow: $-4,298/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
• City population: 65,170
• Population (ZIP): 9,138

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 (73%)
• Race & ethnicity: White 73% Black 12% Hispanic / Latino 8% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · French/Haitian/Cajun 5% Spanish 4% Chinese 2%

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: ▲ 40.85%
• Current HPI: 280.3184
• Rent YoY: —
• Metro: —
• 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

+235.0% since first listed

6 events — show timeline

• 2026-04-20 Pending — GBAOR
• 2026-04-08 Listed $196,000 GBAOR
• 2014-08-11 Sold (Public Records) $111,702 Public Records
• 2014-08-07 Sold (MLS) $111,702 GBAOR
• 2014-03-17 Listed $109,900 GBAOR
• 2008-10-09 Sold (Public Records) $58,500 Public Records

Property tax history

+9.9%/yr

Latest (2025): $7,735 · +0.9% YoY. Source: county tax records.