18 Johnson St · Binghamton, NY 13905

$176,000

3 bd · 2.0 ba · 1,449 sqft · MultiFamily public records · 15 Days on market

Built 1920 6,534 sqft lot Est $117k · 50% over

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Why this score? — see what drove the D+ 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 +20.6/30.0
• 1% rule +6.8/10.0
• DSCR +6.5/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• 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: 2 units. confirmed

Listing remarks

Investor or owner-occupant opportunity! This newly rehabbed 2-family home offers flexibility and immediate income potential. The upper unit is currently rented for $1,350/month through December, providing built-in cash flow from day one, while the vacant lower unit is ready for a new tenant or perfect for an owner looking to offset their mortgage with rental income. Recent renovations make this a low-maintenance addition to your portfolio, and the convenient Binghamton location provides easy access to shopping, dining, schools, and major roadways. Whether you're looking to expand your investment portfolio or live in one unit while collecting rent from the other, this property is ready to go

Key facts

• 2-family home
• Recent renovations
• Binghamton location

Tags

• 2-FAMILY HOME
• IMMEDIATE INCOME POTENTIAL
• RECENT RENOVATIONS
• BINGHAMTON LOCATION
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING

Property features AI

Finance

• Other: Lot approximately 0.15 acres; Zoned residential
• Financial info: Property used for rental income (residential income); One unit reported rent: $1,350

Exterior

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

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Two 2-bedroom units
• Flooring: Vinyl
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced air heating; No cooling
• Interior features: Gas water heater; Vinyl flooring; Basement
• Laundry & utility: No washer/dryer information provided

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $176k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive. Per door: $118/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $176k).
• Recommended offer: $173k (1.5% 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: 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: Woodrow Wilson School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 352 students, 76% FRL) — zoned schools average 76% FRL vs 61% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 37% district-wide (-20 pts) — the specific schools serving this property underperform the Binghamton City School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+11.2%/yr); 136 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 8.0% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $125k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,360 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 1.18% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.25
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $117,369
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Julian St	0.13mi	4/2.0 (+1)	1,424 (-2%)	12mo	$115,000	$81	76
36 Adams St	0.49mi	2/2.0 (-1)	1,406 (-3%)	8mo	$110,000	$78	61
6 Tracy St	0.34mi	3/2.0	1,364 (-6%)	16mo	$110,000	$81	61
39 Colfax Ave	0.28mi	4/2.0 (+1)	1,557 (+8%)	15mo	$125,000	$80	57
13 Holland St	0.28mi	4/2.0 (+1)	1,535 (+6%)	23mo	$90,000	$59	53
18 Goethe St	0.61mi	4/2.0 (+1)	1,500 (+4%)	17mo	$230,000	$153	47
85 Crestmont Rd	0.75mi	3/2.0	1,586 (+10%)	7mo	$170,000	$107	44
4 Charles St	0.74mi	4/3.0 (+1)	1,582 (+9%)	14mo	$200,000	$126	30

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-2,403
• Equity at exit: $26,242

10-year hold

• IRR: 13.7%
• Equity multiple: 2.38×
• Total profit: $67,827
• Equity at exit: $15,217

Cash invested: $49,280 (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 13905

• Home prices YoY: -31.1%
• Rents YoY: 11.2%
• Active inventory: 136
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $2,080 high
• Mortgage (P&I): −$923
• Tax from tax record: −$412 /mo · $4,941/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $235

Break-even live

Break-even rent $1,782

Max offer price $176,000

Occupancy floor 84%

Sensitivity live

Price	-10% $335	-5% $285	+0% $235	+5% $185	+10% $135
Rent	-10% $71	-5% $153	+0% $235	+5% $317	+10% $399
Rate	-1.0pp $324	-0.5pp $280	base $235	+0.5pp $190	+1.0pp $143

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,080
Total (2 units)			$2,080

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: $44,000
• Closing costs: $5,280
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Baxter St Unit Left Binghamton, NY	4.0	2.5	1800	$1,500	$0.83	14d	1	0.14mi
296 Main St Unit 6 Binghamton, NY	3.0	1.0	1200	$1,250	$1.04	14d	1	0.35mi
263 Main St Binghamton, NY	2.0	1.0	920	$1,200	$1.30	14d	1	0.40mi
133 Crestmont Rd Unit 2 Binghamton, NY	3.0	1.0	1300	$1,900	$1.46	44d	1	0.52mi
36 Haendel St Unit Second Floor Binghamton, NY	3.0	1.0	1200	$1,450	$1.21	44d	1	0.66mi
36 Haendel St Unit 1 Binghamton, NY	3.0	1.0	1600	$1,650	$1.03	44d	1	0.66mi
129 Helen St Unit 1 Binghamton, NY	4.0	2.0	1850	$2,200	$1.19	44d	1	0.73mi
16 Highland Ave Unit 1 Binghamton, NY	3.0	1.0	1400	$1,650	$1.18	44d	1	0.86mi
99 Helen St Unit 2 Binghamton, NY	3.0	1.0	1220	$1,600	$1.31	44d	1	0.86mi
4 Erie St Unit 2 Binghamton, NY	3.0	1.0	1075	$1,200	$1.12	44d	1	0.90mi
127 Burbank Ave Unit 2 Johnson City, NY	2.0	1.0	1032	$1,000	$0.97	21d	1	0.93mi
46 North St Unit 4 Binghamton, NY	2.0	1.0	1000	$1,600	$1.60	14d	1	0.98mi
145 Floral Ave Unit 4 Johnson City, NY	3.0	1.0	1095	$1,250	$1.14	21d	1	0.98mi
248 Main St Unit 2 Johnson City, NY	2.0	1.0	1650	$1,650	$1.00	14d	1	1.01mi
198 Chapin St Binghamton, NY	4.0	2.0	1500	$1,700	$1.13	21d	1	1.02mi
171 Chapin St Unit 3rd FL Binghamton, NY	2.0	1.0	1135	$1,500	$1.32	44d	1	1.05mi
171 Chapin St Unit 1st FL Binghamton, NY	4.0	1.5	1400	$3,000	$2.14	44d	1	1.05mi
171 Chapin St Unit 2nd FL Binghamton, NY	4.0	2.0	1135	$3,000	$2.64	44d	1	1.05mi
167 Oak St Unit 1 Binghamton, NY	2.0	1.0	923	$1,300	$1.41	44d	1	1.11mi
5 Arthur St Unit 2 Binghamton, NY	4.0	1.0	1200	$1,800	$1.50	44d	1	1.15mi
436 Glenwood Rd Binghamton, NY	1.0–2.0	1.0–1.5	1100	$1,360	$1.24	14d	1	1.18mi
53 Seminary Ave Unit 1 Binghamton, NY	2.0	1.0	1722	$925	$0.54	21d	1	1.19mi
50 Lathrop Ave Unit 2 Binghamton, NY	3.0	1.0	1250	$1,600	$1.28	14d	1	1.27mi
207 Saint Charles St #2 Johnson City, NY	2.0	1.0	925	$1,250	$1.35	21d	1	1.28mi
73 Leroy St Unit 02 Binghamton, NY	3.0	1.0	1100	$1,950	$1.77	44d	1	1.29mi
51 Allen St Unit 1 Johnson City, NY	3.0	1.0	1170	$1,575	$1.35	21d	1	1.34mi
26 Johnson Ave Unit 1 Binghamton, NY	3.0	1.0	1633	$1,600	$0.98	44d	1	1.40mi
50 Crocker Ave Johnson City, NY	4.0	2.0	1411	$2,000	$1.42	21d	1	1.47mi

Listing history 12 events

1. 2026-06-19
   days on market $176,000 Active 15 DOM
2. 2026-06-18
   days on market $176,000 Active 14 DOM
3. 2026-06-17
   days on market $176,000 Active 13 DOM
4. 2026-06-16
   days on market $176,000 Active 12 DOM
5. 2026-06-15
   days on market $176,000 Active 11 DOM
6. 2026-06-14
   days on market $176,000 Active 9 DOM
7. 2026-06-13
   days on market $176,000 Active 8 DOM
8. 2026-06-10
   days on market $176,000 Active 6 DOM
9. 2026-06-09
   days on market $176,000 Active 5 DOM
10. 2026-06-08
    days on market $176,000 Active 4 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $176,000 Active 3 DOM

ⓘ 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: $4,941 · $412/mo
• Projected year-2 tax: $4,941 · $412/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 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 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: $24,960
• − Mortgage interest: −$9,859
• − Property taxes: −$4,941
• − Insurance: −$880
• − Repairs & maintenance: −$1,997
• − Management: −$1,997
• − Depreciation: −$5,120
• Taxable income: $166
• Est. tax owed @ 24.0%: −$40
• After-tax cash flow: $2,782/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): 27,988
• Household income: $53,362
• Rent vs Own: 52.9% rent · 47.1% own
• Severe rent burden: 1875.0

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 (68%)
• Race & ethnicity: White 68% Asian 10% Black 10% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 1%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 87% English-only · Other Indo-European 5% Spanish 2% Other Asian/Pacific 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: ▼ -134.70%
• Current HPI: 298.9847
• Rent YoY: ▲ 11.19%
• 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

+37.5% since first listed

9 events — show timeline

• 2026-06-04 Listed $176,000 GBAOR
• 2024-05-15 Rental Removed $1,400 GBAOR
• 2024-05-07 Listed for Rent $1,400 GBAOR
• 2024-05-01 Rental Removed $1,400 GBAOR
• 2024-01-02 Listed for Rent $1,400 GBAOR
• 2022-12-20 Sold (Public Records) $125,000 Public Records
• 2022-10-08 Relisted — GBAOR
• 2022-10-03 Pending — GBAOR
• 2022-08-31 Listed $128,000 GBAOR

Property tax history

+4.7%/yr

Latest (2025): $4,941 · +0.9% YoY. Source: county tax records.