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111 Glenwood Ave Ave Triplex
A- Composite 81.88
Why this score? — see what drove the A- 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
  • Appreciation +5.0/10.0
  • Livability +3.9/5.0
  • Condition / age +3.8/5.0
  • Rent growth +2.5/5.0
  • Schools +1.7/10.0

$175,000

111 Glenwood Ave Ave · Binghamton, NY 12905
3 bd · 3.0 ba · 2,223 sqft · MultiFamily public records · 80 Days on market
Built 1922 Good condition 6,098 sqft lot $79/sqft · 19% below area Est $216k · 19% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

If walls could talk, these would say, "Invest. " Here's your chance to own a turnkey triplex in a convenient Binghamton location with quick access to the highway, shopping, restaurants, and more. With two occupied units and one vacant unit ready for your next tenant or owner occupancy, this property offers flexibility and income potential from day one. Recent improvements include a new roof and siding (2019) and a new furnace (2023). Whether you're just getting started or looking to expand your portfolio, this is one you'll want to see. Call your realtor & schedule a showing.

Key facts

  • New furnace
  • Turnkey triplex
  • New siding

Tags

TURNKEY TRIPLEXNEW ROOFNEW SIDINGNEW FURNACE

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 3 × 4-bed/3.0-bath units multifamily listed at $175k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $436/mo.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($3k rent vs $175k).
  • Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
  • Cap rate 15.3% vs local median 6.2% 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: Woodrow Wilson School (math 8% / reading 27%, grade F, #2,004 of 2,108 statewide, top 95%, 352 students, 76% FRL); Binghamton High School (math 71% / reading 79%, grade A-, #631 of 1,100 statewide, top 58%, 1,341 students, 69% FRL).
  • Market conditions: 1 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% 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 $6k of equity ($1k loan paydown + $5k 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 $49k cash investment doubles in ~3 years — after that, you're playing with house money.
  • By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

  • It's been on market 80 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
  • 5 sale attempts since 2y 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 2.9% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.
Recommended offer $164,500 (6.0% below list)

Questions for the listing agent

  1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% 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 1922 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  8. 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?
  9. 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?
  10. 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.
  11. 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.
  12. 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
1.97%
Cap rate
15.27%
Cash-on-cash
32.06%
DSCR
2.43
GRM
4.2

CMA / ARV

ARV (median comp)
$215,607
List price
$175,000
Delta
-18.83%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 7 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
378 Prospect St 0.23mi 4/4.0 (+1) 2,214 (-0%) 12mo $171,000 $77 69
29 Miles St 0.12mi 4/2.0 (+1) 2,080 (-6%) 13mo $130,000 $63 64
241 Prospect St 0.41mi 4/2.0 (+1) 2,028 (-9%) 13mo $130,000 $64 46
69 Colfax Ave 0.49mi 3/2.0 1,970 (-11%) 11mo $138,000 $70 45
12 Wilson St 0.49mi 4/4.0 (+1) 2,384 (+7%) 21mo $190,000 $80 38
38 North St 0.66mi 4/2.0 (+1) 1,960 (-12%) 10mo $140,000 $71 32
8 Holland St 0.61mi 4/2.0 (+1) 2,506 (+13%) 19mo $190,000 $76 25

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
37.9%
Equity multiple
3.14×
Total profit
$104,631
Equity at exit
$78,688
10-year hold
IRR
37.9%
Equity multiple
6.22×
Total profit
$255,911
Equity at exit
$121,267

Cash invested: $49,000 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
5 active · 10 under contract
Months of supply
15.0 mo (7%/mo absorbed)
Median asking
$178,000 ($86/sqft)
Median days on market
112 d
This list price
20% of active listings are priced below it
ARV vs active asking
+12.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 12905

Active inventory
1
Price-to-rent
12.7×

Monthly cashflow live

Estimated rent
$3,450 medium interval (Pro) →
Mortgage (P&I)
$918
Tax from tax record
$426 /mo · $5,110/yr
Insurance
$73
HOA
$0
Vacancy / Maint / Mgmt
$724
Net cashflow
$1,309

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

UnitsBedsBathsEst. rent
Total (3 units) $3,450

Break-even live

Break-even rent $1,793
Max offer price $175,000
Occupancy floor 57%

Sensitivity live

Price -10% $1,408 -5% $1,359 +0% $1,309 +5% $1,259 +10% $1,210
Rent -10% $1,036 -5% $1,173 +0% $1,309 +5% $1,445 +10% $1,582
Rate -1.0pp $1,397 -0.5pp $1,354 base $1,309 +0.5pp $1,264 +1.0pp $1,218

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
$43,750
Closing costs
$5,250
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
4 Baxter St Unit Left Binghamton, NY 4.0 2.5 1800 $1,500 $0.83 109d 1 0.17mi
327 Main St Apt 5 Binghamton, NY 3.0 1.0 $1,300 0d 1 0.35mi
296 Main St Unit 6 Binghamton, NY 3.0 1.0 1200 $1,250 $1.04 109d 1 0.38mi
296 Main St Unit 2 Binghamton, NY 3.0 1.0 1200 $1,200 $1.00 0d 1 0.38mi
106 Grand Blvd Unit 2 Binghamton, NY 3.0 2.0 1300 $1,595 $1.23 0d 1 0.42mi
102 Main St Unit 2 Johnson City, NY 3.0 1.0 $1,600 6d 1 0.46mi
255 Main St Binghamton, NY 4.0 2.0 $3,400 139d 1 0.55mi
133 Crestmont Rd Unit 2 Binghamton, NY 3.0 1.0 1300 $1,900 $1.46 139d 1 0.58mi
69 Floral Ave Johnson City, NY 3.0 1.5 1900 $1,800 $0.95 6d 1 0.65mi
56 Farr Ave Johnson City, NY 3.0 1.0 $1,600 109d 1 0.68mi
96 Floral Ave Unit 4 Johnson City, NY 3.0 1.0 $500 6d 1 0.71mi
125 Crary Ave Unit 1 Binghamton, NY 3.0 1.0 1100 $1,750 $1.59 6d 1 0.76mi
145 Floral Ave Unit 4 Johnson City, NY 3.0 1.0 1095 $1,250 $1.14 116d 1 0.81mi
129 Helen St Unit 1 Binghamton, NY 4.0 2.0 1850 $2,200 $1.19 139d 1 0.82mi
54 Schubert St Binghamton, NY 4.0 2.0 $600 139d 1 0.84mi
36 Haendel St Unit 1 Binghamton, NY 3.0 1.0 1600 $1,650 $1.03 139d 1 0.85mi
36 Haendel St Unit Second Floor Binghamton, NY 3.0 1.0 1200 $1,450 $1.21 139d 1 0.85mi
11 Maiden Ln Binghamton, NY 3.0 2.0 1638 $2,300 $1.40 0d 1 0.88mi
31 Brown St Johnson City, NY 3.0 1.5 1932 $1,850 $0.96 6d 1 0.90mi
60 Roberts St Johnson City, NY 4.0 1.5 $2,000 6d 1 0.91mi
74 Matthews St Binghamton, NY 3.0 2.0 2510 $2,300 $0.92 116d 1 0.92mi
72 Matthews St Unit 1 Binghamton, NY 5.0 2.5 $3,250 139d 1 0.93mi
143 Harrison St Unit 1 Johnson City, NY 4.0 2.0 750 $1,150 $1.53 6d 1 0.94mi
99 Helen St Unit 2 Binghamton, NY 3.0 1.0 1220 $1,600 $1.31 139d 1 0.97mi
16 Highland Ave Unit 1 Binghamton, NY 3.0 1.0 1400 $1,650 $1.18 139d 1 1.02mi
103 Beethoven St Unit 1 Binghamton, NY 3.0 1.5 1277 $1,385 $1.08 6d 1 1.03mi
72 Saint Charles St Johnson City, NY 4.0 2.5 1781 $1,900 $1.07 6d 1 1.05mi
51 Allen St Unit 1 Johnson City, NY 3.0 1.0 1170 $1,575 $1.35 116d 1 1.08mi
57 Fowler Ave Johnson City, NY 3.0 2.5 2497 $2,000 $0.80 109d 1 1.14mi
27 Cedar St Unit 1 Binghamton, NY 3.0 1.0 $1,200 109d 1 1.17mi
4 Erie St Unit 2 Binghamton, NY 3.0 1.0 1075 $1,200 $1.12 139d 1 1.18mi
12 Cypress St Unit 2nd Floor Binghamton, NY 3.0 1.0 $1,800 0d 1 1.19mi
50 Crocker Ave Johnson City, NY 4.0 2.0 1411 $2,000 $1.42 116d 1 1.21mi
101 Chestnut St Unit 1 Binghamton, NY 5.0 2.0 $800 139d 1 1.26mi
198 Chapin St Binghamton, NY 4.0 2.0 1500 $1,700 $1.13 116d 1 1.30mi
171 Chapin St Unit 1st FL Binghamton, NY 4.0 1.5 1400 $3,000 $2.14 139d 1 1.33mi
171 Chapin St Unit 2nd FL Binghamton, NY 4.0 2.0 1135 $3,000 $2.64 139d 1 1.33mi
56 Seminary Ave Binghamton, NY 5.0 4.0 2790 $4,125 $1.48 6d 1 1.39mi
5 Arthur St Unit 1 Binghamton, NY 5.0 2.0 1200 $2,250 $1.88 139d 1 1.41mi
5 Arthur St Unit 2 Binghamton, NY 4.0 1.0 1200 $1,800 $1.50 139d 1 1.41mi

Property features AI

Finance

Other
Zoned Neighborhood Commercial
Financial info
Income-producing triplex with current rents: $850 (1-bed), $1,020 (2-bed), $870 (1-bed)
HOA & community
No HOA information listed

Exterior

Parking
No designated parking listed
Security
No security features listed
Utilities
Public waterPublic sewerCable available
Home design
Residential income property (triplex)
Construction
Aluminum siding
Exterior features
Level lotLot dimensions approximately 54 ft x 125 ft

Interior

Kitchen
No specific kitchen appliances listed beyond gas water heater
Bedrooms
Unit mix includes one 1-bed unit, one 2-bed unit, and another 1-bed unit
Flooring
CarpetHardwoodTile
Bathrooms
Three full bathrooms total (units: 1, 1, 1)
Heating & cooling
Baseboard heatingCentral air conditioning
Interior features
Gas water heaterCarpet, hardwood, and tile flooringHas basement
Laundry & utility
No specific laundry appliances listed

Listing history 50 events

  1. 2026-09-24
    days on market $175,000 Active 80 DOM
  2. 2026-09-24
    days on market $175,000 Active 79 DOM
  3. 2026-09-22
    days on market $175,000 Active 78 DOM
  4. 2026-09-20
    days on market $175,000 Active 76 DOM
  5. 2026-09-19
    days on market $175,000 Active 75 DOM
  6. 2026-09-18
    days on market $175,000 Active 74 DOM
  7. 2026-09-17
    days on market $175,000 Active 73 DOM
  8. 2026-09-16
    days on market $175,000 Active 72 DOM
  9. 2026-09-15
    days on market $175,000 Active 71 DOM
  10. 2026-09-14
    days on market $175,000 Active 70 DOM
  11. 2026-09-13
    days on market $175,000 Active 69 DOM
  12. 2026-09-12
    days on market $175,000 Active 68 DOM
  13. 2026-09-11
    days on market $175,000 Active 67 DOM
  14. 2026-09-05
    days on market $175,000 Active 61 DOM
  15. 2026-09-04
    days on market $175,000 Active 60 DOM
  16. 2026-09-03
    days on market $175,000 Active 59 DOM
  17. 2026-08-30
    days on market $175,000 Active 55 DOM
  18. 2026-08-29
    days on market $175,000 Active 54 DOM
  19. 2026-08-28
    days on market $175,000 Active 53 DOM
  20. 2026-08-27
    days on market $175,000 Active 52 DOM
  21. 2026-08-26
    days on market $175,000 Active 51 DOM
  22. 2026-08-25
    days on market $175,000 Active 50 DOM
  23. 2026-08-24
    days on market $175,000 Active 49 DOM
  24. 2026-08-23
    days on market $175,000 Active 48 DOM
  25. 2026-08-22
    days on market $175,000 Active 47 DOM
  26. 2026-08-21
    days on market $175,000 Active 46 DOM
  27. 2026-08-20
    days on market $175,000 Active 45 DOM
  28. 2026-08-19
    days on market $175,000 Active 44 DOM
  29. 2026-08-18
    days on market $175,000 Active 43 DOM
  30. 2026-08-17
    days on market $175,000 Active 42 DOM
  31. 2026-08-16
    days on market $175,000 Active 41 DOM
  32. 2026-08-15
    days on market $175,000 Active 40 DOM
  33. 2026-08-14
    days on market $175,000 Active 39 DOM
  34. 2026-08-13
    days on market $175,000 Active 38 DOM
  35. 2026-08-12
    days on market $175,000 Active 37 DOM
  36. 2026-08-11
    days on market $175,000 Active 36 DOM
  37. 2026-08-10
    days on market $175,000 Active 35 DOM
  38. 2026-08-09
    days on market $175,000 Active 34 DOM
  39. 2026-08-08
    days on market $175,000 Active 33 DOM
  40. 2026-08-07
    days on market $175,000 Active 32 DOM
  41. 2026-08-06
    days on market $175,000 Active 31 DOM
  42. 2026-08-05
    days on market $175,000 Active 30 DOM
  43. 2026-08-04
    days on market $175,000 Active 29 DOM
  44. 2026-08-03
    days on market $175,000 Active 28 DOM
  45. 2026-07-31
    days on market $175,000 Active 25 DOM
  46. 2026-07-30
    days on market $175,000 Active 24 DOM
  47. 2026-07-29
    days on market $175,000 Active 23 DOM
  48. 2026-07-27
    days on market $175,000 Active 21 DOM
  49. 2026-07-25
    days on market $175,000 Active 19 DOM
  50. 2026-07-24
    days on market $175,000 Active 18 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
$5,110 · $426/mo
Projected year-2 tax
$5,110 · $426/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 7 d/yr ≥94°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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$41,400
− Mortgage interest
−$9,803
− Property taxes
−$5,110
− Insurance
−$875
− Repairs & maintenance
−$3,312
− Management
−$3,312
− Depreciation
−$5,091
Taxable income
$13,897
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$3,335
After-tax cash flow
$12,373/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.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $11,115–$33,345 screening

This triplex is in good condition with recent roof and siding work, and a recent furnace. It requires some cosmetic updates to the kitchen and bathrooms to maximize its resale and rental value.

Components & finishes AI

Roof asphalt shingle · good Flooring hardwood Counters granite Appliances white HVAC central · new lt5

Repairs flagged

  • Minor kitchen appliances — Older and dated appearance.
  • Minor bathroom fixtures — Older and dated appearance.

Value-add opportunities

  • Both New kitchen appliances — Modernizes the kitchen and improves functionality.
  • Both New bathroom fixtures — Enhances the bathroom's functionality and appearance.

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 17/100

Zoned Schools

Elementary Woodrow Wilson School F NY #2,004/2,108 Nat'l #35,051/41,679

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
B Composite livability gradescore 78/100

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

Price history

+218.2% since first listed
9 events — show timeline
  • 2026-07-06 Listed $175,000 GBAOR
  • 2025-07-25 Listed $194,000 GBAOR
  • 2025-06-19 Listed $198,999 GBAOR
  • 2025-04-18 Listed $198,999 GBAOR
  • 2025-01-06 Price Changed $198,999 GBAOR
  • 2024-09-27 Listed $199,999 GBAOR
  • 2022-12-02 Sold (Public Records) $474,138 Public Records
  • 2022-02-17 Price Changed $800 RENT.
  • 2008-02-15 Sold (Public Records) $55,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $5,110 · +0.9% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…