206 Clinton St · Binghamton, NY 13905

$99,999

5 bd · 4.0 ba · 5,238 sqft · MultiFamily public records · 10 Days on market

Built 1960 10,454 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Income-Producing Multi-Family Opportunity with Additional Annex Unit! Located in Binghamton's First Ward, this investment property offers multiple income streams and value-add potential. The property features a spacious 3-bedroom unit that will be delivered vacant, providing an excellent opportunity for an owner-occupant or investor to lease at a projected market rent of approximately $1,200 per month. Two additional 1-bedroom units are currently generating income at $750 and $725 per month, along with an annex unit producing $450 per month. With projected gross monthly rental income of approximately $3,125 per month when fully occupied, investors can capitalize on both immediate cash flow

Key facts

• Annex unit producing
• 0.24 acre lot
• Built 1960

Tags

• MULTI-FAMILY OPPORTUNITY
• ADDITIONAL ANNEX UNIT
• SPACIOUS 3-BEDROOM UNIT
• TWO ADDITIONAL 1-BEDROOM UNITS
• ANNEX UNIT PRODUCING

Property features AI

Finance

• Financial info: Unit rents indicated: $450, $725, $1,200, $750

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Residential income property — quadruplex; Level lot; Neighborhood commercial zoning
• Construction: Construction materials: other; Above-grade finished area approximately 3,628
• Exterior features: Covered porch

Interior

• Bedrooms: Unit A: 1 bedroom; Unit B: 1 bedroom; Unit C: 3 bedrooms; Unit D: 1 bedroom
• Flooring: Other (see remarks)
• Bathrooms: Four full bathrooms total; Each unit includes one bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Gas water heater; Basement present; Flooring: other (see remarks)

🏷️ Possibly a rental listed for sale. The $99,999 price doesn't fit this home's estimated sale value (~$329,994) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $100k).
• Cap rate 43.9% 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: 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; 340 units permitted in Broome County in 2024 (269 in 5+ unit buildings).
• At $4,842/mo this rent would consume 109% of the median local household income ($53k/yr) (locally 1875% 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 $691 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 + 8.0% rent growth), your $28k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $45k; list at $100k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,999

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 4.84% ✓
• Cap rate: 43.90%
• Cash-on-cash: 134.32%
• DSCR: 6.98
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $329,994
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32 North St	0.50mi	6/3.0 (+1)	4,672 (-11%)	0mo	$292,500	$63	49

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: —
• Equity multiple: 8.47×
• Total profit: $209,071
• Equity at exit: $14,910

10-year hold

• IRR: —
• Equity multiple: 20.85×
• Total profit: $555,851
• Equity at exit: $8,646

Cash invested: $28,000 (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.

Methodology + full state rankings →

ZIP-level market 13905

• Home prices YoY: -31.1%
• Rents YoY: 11.2%
• Active inventory: 136
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $4,842 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,017
• Net cashflow: $3,134

Break-even live

Break-even rent $875

Max offer price $99,999

Occupancy floor 30%

Sensitivity live

Price	-10% $3,203	-5% $3,169	+0% $3,134	+5% $3,100	+10% $3,065
Rent	-10% $2,752	-5% $2,943	+0% $3,134	+5% $3,325	+10% $3,517
Rate	-1.0pp $3,184	-0.5pp $3,160	base $3,134	+0.5pp $3,108	+1.0pp $3,082

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,757
▸ 2× units	1	1	$3,086
Total (3 units)			$4,842

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-13
   statusdays on market $99,999 Pending 10 DOM
2. 2026-06-10
   days on market $99,999 Active 8 DOM
3. 2026-06-09
   days on market $99,999 Active 7 DOM
4. 2026-06-08
   days on market $99,999 Active 6 DOM
5. 2026-06-07
   days on market $99,999 Active 5 DOM
6. 2026-06-03
   remarks 699-char remark
7. 2026-06-03
   listed $99,999 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 27% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°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: $58,104
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$4,648
• − Management: −$4,648
• − Depreciation: −$2,909
• Taxable income: $38,297
• Est. tax owed @ 24.0%: −$9,191
• After-tax cash flow: $28,418/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

+122.2% since first listed

7 events — show timeline

• 2026-06-02 Listed $99,999 GBAOR
• 2026-01-05 Listing Removed — UNYREIS
• 2025-10-30 Price Changed $135,000 GBAOR
• 2025-10-30 Price Changed $135,000 UNYREIS
• 2025-08-01 Listed $145,000 GBAOR
• 2025-08-01 Listed $145,000 UNYREIS
• 2023-08-04 Sold (Public Records) $45,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $6,463 · +0.9% YoY. Source: county tax records.