112 Park Ave · Binghamton, NY 13093

$80,000

3 bd · 2.0 ba · 1,582 sqft · SingleFamily public records

Built 1900 9,583 sqft lot

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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
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Large South Side home conviently located to groceries, resturants, bus lines and hospitals. Spacious rooms. Large master suite with loft/ storage area. So many possibilites with this house. A lot of house for a great price. Plenty of storage and room for everyone. Come take a look. You will not be disappointed!

Key facts

• 9,583 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 14.9% 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: 1 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $3k of equity ($553 loan paydown + $2k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: property tax is 5.0% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 2.14% ✓
• Cap rate: 14.86%
• Cash-on-cash: 30.58%
• DSCR: 2.36
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $191,422
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Allendale Rd	0.34mi	3/2.5	1,643 (+4%)	1mo	$280,000	$170	75
17 Sherwood Ave	0.12mi	3/1.5	1,356 (-14%)	2mo	$176,768	$130	67
39 Park Ave	0.36mi	4/1.5 (+1)	1,538 (-3%)	9mo	$102,500	$67	64
158 Park Ave	0.23mi	3/1.5	1,352 (-14%)	6mo	$85,000	$63	58
103 S Washington St	0.38mi	3/2.0	1,384 (-12%)	8mo	$167,500	$121	55
2030 Rexford St	0.59mi	3/2.0	1,713 (+8%)	5mo	$165,000	$96	54
28 Bayless Ave	0.40mi	4/1.0 (+1)	1,396 (-12%)	1mo	$23,275	$17	52
20 Earle Dr	0.63mi	3/2.0	1,412 (-11%)	2mo	$245,000	$174	51
14 Hallam St	0.61mi	3/1.5	1,452 (-8%)	9mo	$175,000	$121	48
4 Denton Rd	0.59mi	3/1.0	1,377 (-13%)	2mo	$231,000	$168	46
25 Duane Ave	0.52mi	4/1.5 (+1)	1,740 (+10%)	8mo	$170,000	$98	46
50 Tremont Ave	0.63mi	4/1.5 (+1)	1,725 (+9%)	4mo	$175,000	$101	45

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: 33.7%
• Equity multiple: 2.90×
• Total profit: $42,664
• Equity at exit: $35,971

10-year hold

• IRR: 34.0%
• Equity multiple: 5.74×
• Total profit: $106,167
• Equity at exit: $55,436

Cash invested: $22,400 (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 13093

• Active inventory: 1
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,715 high
• Mortgage (P&I): −$420
• Tax from tax record: −$331 /mo · $3,977/yr
• Insurance: −$33
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $515

Break-even live

Break-even rent $1,063

Max offer price $80,000

Occupancy floor 65%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31 Indiana St Binghamton, NY	3.0	1.5	1232	$1,500	$1.22	44d	1	0.46mi
71 Mary St Unit 2 Binghamton, NY	2.0	1.0	1100	$1,300	$1.18	13d	1	0.56mi
1 Euclid Ave Unit 1 Binghamton, NY	3.0	1.0	1100	$1,500	$1.36	44d	1	0.84mi
86 Conklin Ave Binghamton, NY	3.0	1.0	1316	$1,600	$1.22	13d	1	0.98mi
29 Laurel Ave Unit 2 Binghamton, NY	3.0	1.5	1500	$2,250	$1.50	44d	1	1.05mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	44d	1	1.15mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	44d	1	1.21mi
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	44d	1	1.31mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	21d	1	1.31mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	13d	1	1.31mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	44d	1	1.35mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	44d	1	1.38mi
33 Fayette St Unit 22 Binghamton, NY	2.0	1.0	1350	$1,100	$0.81	13d	1	1.47mi

Listing history 7 events

1. 2025-08-20
   soldstatus $75,000
2. 2024-12-13
   historical
3. 2024-10-18
   listed $80,000
4. 2018-08-31
   soldstatus $45,000
5. 2018-08-13
   soldstatus $45,000 312-char remark

   Show marketing remark (312 chars)

   Large South Side home conviently located to groceries, resturants, bus lines and hospitals. Spacious rooms. Large master suite with loft/ storage area. So many possibilites with this house. A lot of house for a great price. Plenty of storage and room for everyone. Come take a look. You will not be disappointed!

6. 2018-04-16
   listed $64,900 312-char remark

   Show marketing remark (312 chars)

   Large South Side home conviently located to groceries, resturants, bus lines and hospitals. Spacious rooms. Large master suite with loft/ storage area. So many possibilites with this house. A lot of house for a great price. Plenty of storage and room for everyone. Come take a look. You will not be disappointed!

7. 2000-04-18
   soldstatus $35,979

ⓘ 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: $3,977 · $331/mo
• Projected year-2 tax: $3,977 · $331/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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $20,585
• − Mortgage interest: −$4,481
• − Property taxes: −$3,977
• − Insurance: −$1,066
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$2,327
• Taxable income: $5,440
• Est. tax owed @ 24.0%: −$1,305
• After-tax cash flow: $4,879/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+108.5% since first listed

7 events — show timeline

• 2025-08-20 Sold (Public Records) $75,000 Public Records
• 2024-12-13 Listing Removed — UNYREIS
• 2024-10-18 Listed $80,000 UNYREIS
• 2018-08-31 Sold (Public Records) $45,000 Public Records
• 2018-08-13 Sold (MLS) $45,000 GBAOR
• 2018-04-16 Listed $64,900 GBAOR
• 2000-04-18 Sold (Public Records) $35,979 Public Records

Property tax history

+7.5%/yr

Latest (2025): $3,977 · +0.9% YoY. Source: county tax records.