198 Chapin St #2BinghamtonNY13905
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 198 Chapin St #2, Binghamton, NY, 13905 in Binghamton hard to pass up. The 12.33% gross yield on a $179,000 purchase results in $1,839/mo in rent and $644/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.28). Annual cash flow of $7,724, five-year appreciation of $49,454, and $1,649/yr in equity build-up combine for a projected total cumulative return of $109,671.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.3% | 8.7% |
| Monthly Cash Flow | $644 | $850 |
City averages based on Binghamton market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,839 |
| Total Monthly Debt Service | $1,124 |
| DSCR Ratio | 1.64x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Multi Family
Built in 1930
7,644 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 13905, Binghamton, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,068 (100%) |
| Owner Occupied HU | 5,281 (37.5%) |
| Renter Occupied HU | 6,678 (47.5%) |
| Vacant Housing Units | 2,109 (15.0%) |
| Median Home Value | $162,713 |
| Average Home Value | $219,383 |
Housing Distribution
Address Breakdown
Residential
11,769
Single Family
10,232
Multi-Family
1,537
Businesses
625
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Multi Family
Built in 1930
7,644 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 13905, Binghamton, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,068 (100%) |
| Owner Occupied HU | 5,281 (37.5%) |
| Renter Occupied HU | 6,678 (47.5%) |
| Vacant Housing Units | 2,109 (15.0%) |
| Median Home Value | $162,713 |
| Average Home Value | $219,383 |
Housing Distribution
Address Breakdown
Residential
11,769
Single Family
10,232
Multi-Family
1,537
Businesses
625
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Chanmaly Ly • Howard Hanna
Mls Name: GBMLS
Mls ID: #332704