42 Doubleday St · Binghamton, NY 13901

$99,000

4 bd · 2.0 ba · 2,176 sqft · MultiFamily public records · 35 Days on market

Built 1910 3,484 sqft lot $45/sqft · 42% below area Est $170k · 42% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

2-family opportunity in Downtown Binghamton with strong upside potential. Each unit offers 3 bedrooms and hardwood floors, providing a solid layout for both investors and owner-occupants. The property features a new roof, separate electric and gas meters for each apartment, and low taxes, helping keep operating expenses in check. The interior will require some TLC to reach full market potential, but the size and configuration create a clear value-add opportunity. Whether you’re looking to add to your portfolio or live in one unit and rent the other, this property offers flexibility and long-term upside. Located in the student housing district with the ability to rent to students, and

Key facts

• Low taxes
• New roof
• Hardwood floors

Tags

• NEW ROOF
• HARDWOOD FLOORS
• LOW TAXES
• WALKING DISTANCE TO DOWNTOWN

Property features AI

Finance

• Other: Zoned for two-family residential (220 - 2 Family Res)
• Financial info: Each unit currently rents for $1,500 (total rent per unit $1,500)
• HOA & community: No HOA information provided

Exterior

• Parking: Driveway
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income property); Level lot
• Construction: Cedar construction
• Exterior features: Covered porch

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two 3-bedroom units
• Flooring: Hardwood; Laminate
• Bathrooms: One full bathroom in each unit; Two full bathrooms total
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Gas water heater; Hardwood and laminate flooring; Basement
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $756/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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: Calvin Coolidge School (math 27% / reading 37%, grade F, #1,646 of 2,108 statewide, top 80%, 312 students, 72% FRL).
• Market conditions: 92 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $2,959/mo this rent would consume 64% 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 $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $36k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; list at $99k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.99% ✓
• Cap rate: 24.62%
• Cash-on-cash: 65.46%
• DSCR: 3.91
• GRM: 2.8

CMA / ARV

• ARV (median comp): $170,337
• List price: $99,000
• Delta: -41.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 Emmett St	0.04mi	4/2.0	2,220 (+2%)	4mo	$90,000	$41	91
9 Allen St	0.44mi	4/3.0	2,184 (+0%)	5mo	$150,000	$69	71
2 Munsell St	0.13mi	4/2.0	2,392 (+10%)	20mo	$115,000	$48	61
12 Jay St	0.50mi	4/2.0	2,316 (+6%)	7mo	$130,000	$56	60
28 Jackson St	0.67mi	5/2.0 (+1)	2,208 (+2%)	2mo	$100,000	$45	60
169 Hawley St	0.48mi	4/2.0	2,170 (-0%)	22mo	$42,000	$19	59
13 Sturges St	0.68mi	4/2.0	2,194 (+1%)	12mo	$105,000	$48	57
14 Deforest St	0.73mi	4/3.0	2,312 (+6%)	1mo	$140,000	$61	51
155 Hawley St	0.52mi	3/2.0 (-1)	1,958 (-10%)	14mo	$120,000	$61	42
42 George St	0.75mi	4/2.0	2,044 (-6%)	18mo	$145,000	$71	40
12-14 George St	0.55mi	4/3.0	2,400 (+10%)	18mo	$252,000	$105	38
13 Mcdonald Ave	0.64mi	3/2.0 (-1)	1,900 (-13%)	10mo	$46,000	$24	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: 64.7%
• Equity multiple: 3.90×
• Total profit: $80,393
• Equity at exit: $14,761

10-year hold

• IRR: 69.1%
• Equity multiple: 8.02×
• Total profit: $194,547
• Equity at exit: $8,560

Cash invested: $27,720 (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: 5.6×

Monthly cashflow live

• Estimated rent: $2,959 high
• Mortgage (P&I): −$519
• Tax from tax record: −$265 /mo · $3,182/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$621
• Net cashflow: $1,512

Break-even live

Break-even rent $1,045

Max offer price $99,000

Occupancy floor 44%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,958
Total (2 units)			$2,959

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Hawley St Binghamton, NY	4.0	1.5	1637	$2,000	$1.22	43d	1	0.63mi
51 2nd St Binghamton, NY	3.0	2.5	2333	$2,200	$0.94	13d	1	0.92mi
90 Conklin Ave Binghamton, NY	5.0	2.0	2000	$575	$0.29	13d	1	0.95mi
16 North St Unit 1-1 Binghamton, NY	5.0	2.0	2600	$650	$0.25	43d	1	0.97mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	0.97mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	43d	1	1.05mi
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	43d	1	1.20mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	21d	1	1.20mi
607 Chenango St Binghamton, NY	5.0	2.5	2500	$2,800	$1.12	13d	1	1.30mi
19 Walnut St Binghamton, NY	5.0	2.0	1666	$2,250	$1.35	43d	1	1.37mi
22 Ayres St Binghamton, NY	4.0	2.0	2333	$2,560	$1.10	43d	1	1.42mi

Listing history 5 events

1. 2026-05-15
   price $124,900 862-char remark
2. 2026-04-23
   listed $134,900 Active 862-char remark
3. 2023-09-15
   soldstatus $39,000
4. 2019-06-17
   listed $55,000
5. 2009-10-09
   soldstatus $23,000

ⓘ 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: $3,182 · $265/mo
• Projected year-2 tax: $3,182 · $265/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 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: $35,508
• − Mortgage interest: −$5,546
• − Property taxes: −$3,182
• − Insurance: −$495
• − Repairs & maintenance: −$2,841
• − Management: −$2,841
• − Depreciation: −$2,880
• Taxable income: $17,725
• Est. tax owed @ 24.0%: −$4,254
• After-tax cash flow: $13,891/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

+330.4% since first listed

7 events — show timeline

• 2026-05-28 Pending — GBAOR
• 2026-05-20 Price Changed $99,000 GBAOR
• 2026-05-15 Price Changed $124,900 GBAOR
• 2026-04-23 Listed $134,900 GBAOR
• 2023-09-15 Sold (Public Records) $39,000 Public Records
• 2019-06-17 Listed $55,000 GBAOR
• 2009-10-09 Sold (Public Records) $23,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,182 · +0.9% YoY. Source: county tax records.