47 Cary Street St · Binghamton, NY 13901

$119,999

4 bd · 2.0 ba · 1,128 sqft · SingleFamily public records · 114 Days on market

Built 1900 3,049 sqft lot $106/sqft · 5% below area Est $127k · 5% 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 +27.7/30.0
• ARV discount +9.9/15.0
• DSCR +9.8/10.0
• 1% rule +9.1/10.0
• 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

Listing remarks MLS

UPDATED BINGHAMTON TWO STORY, with 4 bedrooms and 2 bathrooms, and MANY UPDATES! NEW: floors, doors, bathroom, kitchen, furnace, hot water tank, garage door, and driveway! Conveniently located near highways, restaurants, and Otsiningo Park!

Key facts

• Updated floors
• Updated kitchen
• Updated doors

Tags

• UPDATED FLOORS
• UPDATED DOORS
• UPDATED BATHROOM
• UPDATED KITCHEN
• UPDATED FURNACE
• UPDATED HOT WATER TANK

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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: 92 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• This rent runs 37% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $33k; list at $120k implies a 264% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,199 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 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 1900 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.41% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.97%
• DSCR: 1.58
• GRM: 5.9

CMA / ARV

• ARV (median comp): $126,827
• List price: $119,999
• Delta: 2.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
45 Cary St	0.01mi	4/2.0	1,142 (+1%)	21mo	$70,000	$61	80
23 Yager St St	0.03mi	3/1.0 (-1)	1,212 (+7%)	1mo	$125,000	$103	76
530 Chenango St	0.23mi	3/1.0 (-1)	1,176 (+4%)	8mo	$117,000	$99	66
776 State St	0.74mi	3/1.0 (-1)	1,090 (-3%)	1mo	$159,000	$146	50
2 Woodruff Ave	0.45mi	3/1.0 (-1)	985 (-13%)	3mo	$175,000	$178	47
14 Bromley Ave	0.63mi	3/2.0 (-1)	1,012 (-10%)	3mo	$65,000	$64	46
124 Robinson St	0.72mi	3/1.0 (-1)	1,296 (+15%)	14mo	$105,000	$81	21

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $3,799
• Equity at exit: $17,892

10-year hold

• IRR: 12.6%
• Equity multiple: 2.00×
• Total profit: $33,562
• Equity at exit: $10,375

Cash invested: $33,600 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,697 high
• Mortgage (P&I): −$629
• Tax from tax record: −$298 /mo · $3,579/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $363

Break-even live

Break-even rent $1,237

Max offer price $119,999

Occupancy floor 74%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
528 Chenango St Unit 1 Binghamton, NY	3.0	1.0	1250	$1,500	$1.20	13d	1	0.24mi
8 Roosevelt Ave Binghamton, NY	3.0	1.0	1400	$1,450	$1.04	21d	1	0.42mi
8 Roosevelt Ave Unit 2 Binghamton, NY	3.0	1.0	1400	$1,500	$1.07	43d	1	0.42mi
37 Bigelow St Unit 1 Binghamton, NY	3.0	1.5	854	$1,500	$1.76	13d	1	1.05mi
136 Court St Unit 2 Binghamton, NY	4.0	1.0	1373	$3,000	$2.18	43d	1	1.36mi

Listing history 20 events

1. 2026-06-19
   days on market $119,999 Active 114 DOM
2. 2026-06-18
   price $119,999 Active 113 DOM
3. 2026-06-18
   days on market $129,999 Active 113 DOM
4. 2026-06-17
   days on market $129,999 Active 112 DOM
5. 2026-06-16
   days on market $129,999 Active 111 DOM
6. 2026-06-15
   days on market $129,999 Active 110 DOM
7. 2026-06-14
   days on market $129,999 Active 108 DOM
8. 2026-06-13
   days on market $129,999 Active 107 DOM
9. 2026-06-10
   days on market $129,999 Active 105 DOM
10. 2026-06-09
    days on market $129,999 Active 104 DOM
11. 2026-06-08
    days on market $129,999 Active 103 DOM
12. 2026-06-07
    days on market $129,999 Active 102 DOM
13. 2026-06-03
    days on market $129,999 Active 98 DOM
14. 2026-06-02
    days on market $129,999 Active 97 DOM
15. 2026-06-01
    days on market $129,999 Active 96 DOM
16. 2026-05-31
    days on market $129,999 Active 95 DOM
17. 2026-05-30
    days on market $129,999 Active 94 DOM
18. 2026-04-09
    price $129,999 243-char remark

    Show marketing remark (243 chars)

    UPDATED BINGHAMTON TWO STORY, with 4 bedrooms and 2 bathrooms, and MANY UPDATES! NEW: floors, doors, bathroom, kitchen, furnace, hot water tank, garage door, and driveway! Conveniently located near highways, restaurants, and Otsiningo Park!

19. 2026-02-25
    listed $139,000 Active 243-char remark

    Show marketing remark (243 chars)

    UPDATED BINGHAMTON TWO STORY, with 4 bedrooms and 2 bathrooms, and MANY UPDATES! NEW: floors, doors, bathroom, kitchen, furnace, hot water tank, garage door, and driveway! Conveniently located near highways, restaurants, and Otsiningo Park!

20. 2006-01-25
    soldstatus $33,000

ⓘ 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: $3,579 · $298/mo
• Projected year-2 tax: $3,579 · $298/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 6/10 Major FEMA zone X · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $20,365
• − Mortgage interest: −$6,722
• − Property taxes: −$3,579
• − Insurance: −$600
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$3,491
• Taxable income: $2,714
• Est. tax owed @ 24.0%: −$651
• After-tax cash flow: $3,706/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

+293.9% since first listed

3 events — show timeline

• 2026-04-09 Price Changed $129,999 GBAOR
• 2026-02-25 Listed $139,000 GBAOR
• 2006-01-25 Sold (Public Records) $33,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,579 · +0.9% YoY. Source: county tax records.