Buying a multi-family in the IBM plume?

[Rebecca Mochel]

I found a 4 unit fully rented in Endicott NY where in 1979 there was a chemical spill. The clean up has been going on for several years. I did not know anything about this till after I put down an offer and hired a lawyer. My lawyer alerted me to the plume. Should I walk away this is my first endeavor into becoming a landlord. Thanks

[Christopher Stanis]

Originally posted by @Rebecca Mochel:

I found a 4 unit fully rented in Endicott NY where in 1979 there was a chemical spill. The clean up has been going on for several years. I did not know anything about this till after I put down an offer and hired a lawyer. My lawyer alerted me to the plume. Should I walk away this is my first endeavor into becoming a landlord. Thanks

Hi, @Rebecca Mochel! We had a home inspector come and speak to the Southern Tier REI Club a while back, and we discussed the IBM Plume at that meeting. My understanding is that it's very similar to deal with for homeowners as is radon. Everyone living in the area has municipal water - no worries there. What happens with the chemicals from the plume is that they vaporize over a long period of time, and the gas vapors come up into a basement. Apparently, the vapors can be drawn away from the house with the same type of system used to relieve radon from basements. Many if not most of the homes in the area have radon/ vapor mitigation systems in the basement.

While I personally wouldn't live in the Endicott plume zone- (the neighborhood isn't super classy besides the chemicals) - I would be more than comfortable to own rental property down there, even if it was as my first purchase in the Binghamton area. What I would suggest- have your home inspector advise you about whether the mitigation system is present/ working etc. If there is no mitigation system in place, I would negotiate that off the purchase price. Last time I had a quote for a system installation, I believe it ran about $1500. 

Hope this helps, and good luck.