40 Hilltop Ln · Binghamton, NY 13865

$155,000

4 bd · 2.0 ba · 960 sqft · MultiFamily public records · 212 Days on market

Built 1980 ↓ 11% since listing

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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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.8/10.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.2/10.0

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

Nice opportunity in this well-cared for duplex that has been family owned for many years; Perfect owner occupy or investment; Located in a wonderful, quiet residential neighborhood, surrounded by well-kept single family homes; Each unit has 2 bedrooms, sliders to patio area & bonus half bath with laundry hook-ups; Newer hot water heaters; Beautiful yard, just under 1/2 acre with views; Oversized 2 car detached garage with loft area is excellent storage; Long term tenants are month to month, rents could be higher; Efficient electric heat; Recent survey of the property has been done and stakes are in place; Desirable Windsor school district; This property is a rare find; Very easy access to Rt 17/86- 5 minutes away;

Key facts

• Laundry hook ups
• Excellent storage
• Easy access to rt 17

Tags

• LAUNDRY HOOK UPS
• NEWER HOT WATER HEATERS
• DETACHED GARAGE
• EXCELLENT STORAGE
• EASY ACCESS TO RT 17

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% 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.
• Windsor Central School District (rural): math 58% / reading 63% proficiency, ranked #236 of 590 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: A F Palmer Elementary School / Windsor Central Middle School (math 50% / reading 58%, grade C, #973 of 2,108 statewide, top 46%, 541 students, 49% FRL); Windsor Central High School (math 98% / reading 95%, grade A+, #59 of 1,100 statewide, top 6%, 502 students, 37% FRL).
• Zoned-school proficiency averages 75% at this address vs 60% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Windsor Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 41 active listings in the ZIP; 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.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 7.47%
• Cash-on-cash: 4.19%
• DSCR: 1.19
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-15,382
• Equity at exit: $23,111

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-617
• Equity at exit: $13,402

Cash invested: $43,400 (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 13865

• Home prices YoY: -2.5%
• Active inventory: 41
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$295 /mo · $3,542/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $151

Break-even live

Break-even rent $1,484

Max offer price $155,000

Occupancy floor 86%

Sensitivity live

Price	-10% $239	-5% $195	+0% $151	+5% $108	+10% $64
Rent	-10% $19	-5% $85	+0% $151	+5% $218	+10% $284
Rate	-1.0pp $230	-0.5pp $191	base $151	+0.5pp $111	+1.0pp $70

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$1,676
Total (2 units)			$1,676

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-11
   status Pending 730-char remark

   Show marketing remark (730 chars)

   Nice opportunity in this well-cared for duplex that has been family owned for many years; Perfect owner occupy or investment; Located in a wonderful, quiet residential neighborhood, surrounded by well-kept single family homes; Each unit has 2 bedrooms, sliders to patio area & bonus half bath with laundry hook-ups; Newer hot water heaters; Beautiful yard, just under 1/2 acre with views; Oversized 2 car detached garage with loft area is excellent storage; Long term tenants are month to month, rents could be higher; Efficient electric heat; Recent survey of the property has been done and stakes are in place; Desirable Windsor school district; This property is a rare find; Very easy access to Rt 17/86- 5 minutes away;

2. 2026-04-12
   price $155,000 730-char remark

   Show marketing remark (730 chars)

   Nice opportunity in this well-cared for duplex that has been family owned for many years; Perfect owner occupy or investment; Located in a wonderful, quiet residential neighborhood, surrounded by well-kept single family homes; Each unit has 2 bedrooms, sliders to patio area & bonus half bath with laundry hook-ups; Newer hot water heaters; Beautiful yard, just under 1/2 acre with views; Oversized 2 car detached garage with loft area is excellent storage; Long term tenants are month to month, rents could be higher; Efficient electric heat; Recent survey of the property has been done and stakes are in place; Desirable Windsor school district; This property is a rare find; Very easy access to Rt 17/86- 5 minutes away;

3. 2025-10-10
   listed $175,000 Active 730-char remark

   Show marketing remark (730 chars)

   Nice opportunity in this well-cared for duplex that has been family owned for many years; Perfect owner occupy or investment; Located in a wonderful, quiet residential neighborhood, surrounded by well-kept single family homes; Each unit has 2 bedrooms, sliders to patio area & bonus half bath with laundry hook-ups; Newer hot water heaters; Beautiful yard, just under 1/2 acre with views; Oversized 2 car detached garage with loft area is excellent storage; Long term tenants are month to month, rents could be higher; Efficient electric heat; Recent survey of the property has been done and stakes are in place; Desirable Windsor school district; This property is a rare find; Very easy access to Rt 17/86- 5 minutes away;

ⓘ 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: $3,542 · $295/mo
• Projected year-2 tax: $3,542 · $295/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥91°F today · 17 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: $20,112
• − Mortgage interest: −$8,682
• − Property taxes: −$3,542
• − Insurance: −$775
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$4,509
• Taxable loss: −$614
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $1,965/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: Windsor Central School District
• NCES district ID: 3602730
• Math proficiency: 58% ▼ -8.00%
• Reading proficiency: 63% ▲ 4.00%
• Median HH income: $51,341
• Composite: 51.6/100
• National rank: #1707
• State rank: #236 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

• City population: 65,170
• Population (ZIP): 5,823

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 8% Iranian 6% Slovak 2%
• Foreign-born: 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: ▼ -7.69%
• Current HPI: 305.4236
• 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

-11.4% since first listed

3 events — show timeline

• 2026-05-11 Pending — GBAOR
• 2026-04-12 Price Changed $155,000 GBAOR
• 2025-10-10 Listed $175,000 GBAOR

Property tax history

+1.5%/yr

Latest (2025): $3,542 · +4.9% YoY. Source: county tax records.