75.5 Pine St · Binghamton, NY 13901

$274,000

2 bd · 2.0 ba · 1,786 sqft · MultiFamily public records · 99 Days on market

Built 1950 3,565 sqft lot $153/sqft · 120% above area Est $231k · 19% 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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +7.4/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Back on the market, no fault of the property. We have an inspection report, a list of repairs, and an appraisal report. The property was appraised for 290,000. This stabilized, cash-flowing 5-unit property delivers a Net Operating Income of $33,769.50 and is priced at a 12.1% cap, offering strong, immediate returns for investors seeking hands-off, reliable income. Featuring 6 electric meters and 5 gas meters, the building’s utilities are set up for efficiency and minimal management hassle. Located just minutes from Downtown Binghamton, with easy access to Binghamton University, major hospitals, and public transportation, the property attracts long-term, dependable tenants, including students, professionals, and medical staff, ensuring consistent occupancy. A turnkey, low-maintenance investment with strong cash flow, prime location, and a proven track record — perfect for investors who want real, hands-free income from day one and a property that performs without guesswork.

Key facts

• Built 1950
• Listed 98 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $274k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $274k).
• Recommended offer: $249k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: 92 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $3,407/mo this rent would consume 74% 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 $2k of loan paydown is wiped out by about $8k 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 $77k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 9 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 $46k; list at $274k implies a 489% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,340 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.24% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (median comp): $230,676
• List price: $274,000
• Delta: 18.78%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
142 Hawley St	0.34mi	3/2.0 (+1)	1,820 (+2%)	14mo	$84,000	$46	64
155 Hawley St	0.29mi	3/2.0 (+1)	1,958 (+10%)	15mo	$120,000	$61	53
13 Mcdonald Ave	0.68mi	3/2.0 (+1)	1,900 (+6%)	10mo	$46,000	$24	44
80 Homer St	0.72mi	3/2.0 (+1)	1,647 (-8%)	15mo	$100,000	$61	36

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: 2.3%
• Equity multiple: 1.09×
• Total profit: $6,652
• Equity at exit: $40,854

10-year hold

• IRR: 11.9%
• Equity multiple: 1.93×
• Total profit: $71,668
• Equity at exit: $23,691

Cash invested: $76,720 (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: 20.1×

Monthly cashflow live

• Estimated rent: $3,407 high
• Mortgage (P&I): −$1,437
• Tax from tax record: −$340 /mo · $4,076/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $801

Break-even live

Break-even rent $2,393

Max offer price $274,000

Occupancy floor 72%

Sensitivity live

Price	-10% $956	-5% $878	+0% $801	+5% $723	+10% $646
Rent	-10% $532	-5% $666	+0% $801	+5% $935	+10% $1,070
Rate	-1.0pp $939	-0.5pp $870	base $801	+0.5pp $730	+1.0pp $658

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,408
Total (3 units)			$3,407

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: $68,500
• Closing costs: $8,220
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	14d	1	0.22mi
186 State St Binghamton, NY	1.0	1.0	1600	$1,950	$1.22	44d	1	0.49mi
90 Conklin Ave Unit 4 Binghamton, NY	1.0	1.0	1600	$575	$0.36	14d	1	0.68mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	14d	1	0.70mi
51 2nd St Binghamton, NY	3.0	2.5	2333	$2,200	$0.94	14d	1	0.71mi
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	14d	1	1.16mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	22d	1	1.26mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	22d	1	1.47mi
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	44d	1	1.47mi

Listing history 18 events

1. 2026-05-31
   days on market $274,000 Active 99 DOM
2. 2026-05-30
   days on market $274,000 Active 98 DOM
3. 2026-05-11
   status Active 999-char remark

   Show marketing remark (999 chars)

   Back on the market, no fault of the property. We have an inspection report, a list of repairs, and an appraisal report. The property was appraised for 290,000. This stabilized, cash-flowing 5-unit property delivers a Net Operating Income of $33,769.50 and is priced at a 12.1% cap, offering strong, immediate returns for investors seeking hands-off, reliable income. Featuring 6 electric meters and 5 gas meters, the building’s utilities are set up for efficiency and minimal management hassle. Located just minutes from Downtown Binghamton, with easy access to Binghamton University, major hospitals, and public transportation, the property attracts long-term, dependable tenants, including students, professionals, and medical staff, ensuring consistent occupancy. A turnkey, low-maintenance investment with strong cash flow, prime location, and a proven track record — perfect for investors who want real, hands-free income from day one and a property that performs without guesswork.

4. 2026-04-10
   historical Active Under Contract 999-char remark

   Show marketing remark (999 chars)

   Back on the market, no fault of the property. We have an inspection report, a list of repairs, and an appraisal report. The property was appraised for 290,000. This stabilized, cash-flowing 5-unit property delivers a Net Operating Income of $33,769.50 and is priced at a 12.1% cap, offering strong, immediate returns for investors seeking hands-off, reliable income. Featuring 6 electric meters and 5 gas meters, the building’s utilities are set up for efficiency and minimal management hassle. Located just minutes from Downtown Binghamton, with easy access to Binghamton University, major hospitals, and public transportation, the property attracts long-term, dependable tenants, including students, professionals, and medical staff, ensuring consistent occupancy. A turnkey, low-maintenance investment with strong cash flow, prime location, and a proven track record — perfect for investors who want real, hands-free income from day one and a property that performs without guesswork.

5. 2026-01-30
   status Pending 999-char remark

   Show marketing remark (999 chars)

   Back on the market, no fault of the property. We have an inspection report, a list of repairs, and an appraisal report. The property was appraised for 290,000. This stabilized, cash-flowing 5-unit property delivers a Net Operating Income of $33,769.50 and is priced at a 12.1% cap, offering strong, immediate returns for investors seeking hands-off, reliable income. Featuring 6 electric meters and 5 gas meters, the building’s utilities are set up for efficiency and minimal management hassle. Located just minutes from Downtown Binghamton, with easy access to Binghamton University, major hospitals, and public transportation, the property attracts long-term, dependable tenants, including students, professionals, and medical staff, ensuring consistent occupancy. A turnkey, low-maintenance investment with strong cash flow, prime location, and a proven track record — perfect for investors who want real, hands-free income from day one and a property that performs without guesswork.

6. 2026-01-14
   status Active 999-char remark

   Show marketing remark (999 chars)

   Back on the market, no fault of the property. We have an inspection report, a list of repairs, and an appraisal report. The property was appraised for 290,000. This stabilized, cash-flowing 5-unit property delivers a Net Operating Income of $33,769.50 and is priced at a 12.1% cap, offering strong, immediate returns for investors seeking hands-off, reliable income. Featuring 6 electric meters and 5 gas meters, the building’s utilities are set up for efficiency and minimal management hassle. Located just minutes from Downtown Binghamton, with easy access to Binghamton University, major hospitals, and public transportation, the property attracts long-term, dependable tenants, including students, professionals, and medical staff, ensuring consistent occupancy. A turnkey, low-maintenance investment with strong cash flow, prime location, and a proven track record — perfect for investors who want real, hands-free income from day one and a property that performs without guesswork.

7. 2025-12-12
   listed $279,000 Active 999-char remark

   Show marketing remark (999 chars)

   Back on the market, no fault of the property. We have an inspection report, a list of repairs, and an appraisal report. The property was appraised for 290,000. This stabilized, cash-flowing 5-unit property delivers a Net Operating Income of $33,769.50 and is priced at a 12.1% cap, offering strong, immediate returns for investors seeking hands-off, reliable income. Featuring 6 electric meters and 5 gas meters, the building’s utilities are set up for efficiency and minimal management hassle. Located just minutes from Downtown Binghamton, with easy access to Binghamton University, major hospitals, and public transportation, the property attracts long-term, dependable tenants, including students, professionals, and medical staff, ensuring consistent occupancy. A turnkey, low-maintenance investment with strong cash flow, prime location, and a proven track record — perfect for investors who want real, hands-free income from day one and a property that performs without guesswork.

8. 2025-09-08
   listed $299,500 Active
9. 2024-05-11
   listed $200,123 Active
10. 2019-03-17
    listed $125,000
11. 2018-09-13
    soldstatus $46,500
12. 2018-09-13
    soldstatus $46,500
13. 2018-07-06
    listed $49,500
14. 2018-05-30
    soldstatus $40,000
15. 2018-05-23
    soldstatus $40,000
16. 2017-09-08
    listed $47,500
17. 2015-05-06
    soldstatus $75,000
18. 2014-08-11
    listed $79,900

ⓘ 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: $4,076 · $340/mo
• Projected year-2 tax: $4,353 · $363/mo
• Expected delta: +$277/yr (+$23/mo · 6.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $40,884
• − Mortgage interest: −$15,348
• − Property taxes: −$4,076
• − Insurance: −$1,370
• − Repairs & maintenance: −$3,271
• − Management: −$3,271
• − Depreciation: −$7,971
• Taxable income: $5,577
• Est. tax owed @ 24.0%: −$1,338
• After-tax cash flow: $8,271/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

+249.2% since first listed

16 events — show timeline

• 2026-05-11 Relisted — GBAOR
• 2026-04-10 Contingent — GBAOR
• 2026-01-30 Pending — GBAOR
• 2026-01-14 Relisted — GBAOR
• 2025-12-12 Listed $279,000 GBAOR
• 2025-09-08 Listed $299,500 GBAOR
• 2024-05-11 Listed $200,123 GBAOR
• 2019-03-17 Listed $125,000 GBAOR
• 2018-09-13 Sold (Public Records) $46,500 Public Records
• 2018-09-13 Sold (MLS) $46,500 GBAOR
• 2018-07-06 Listed $49,500 GBAOR
• 2018-05-30 Sold (Public Records) $40,000 Public Records
• 2018-05-23 Sold (MLS) $40,000 GBAOR
• 2017-09-08 Listed $47,500 GBAOR
• 2015-05-06 Sold (MLS) $75,000 GBAOR
• 2014-08-11 Listed $79,900 GBAOR

Property tax history

+16.0%/yr

Latest (2025): $4,076 · +0.9% YoY. Source: county tax records.