Two-Unit Duplex with
For Sale
Under Contract
$205,000
330 Conklin Ave, Binghamton, NY 13903
MultiFamily, Duplex, BINGHAMTON, NY
Property Size1,656 SF
Lot Size0.17 Acres
Price / SF$123.79
Days on Market132
Property Features for 330 Conklin Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
multifamily
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 1, Bathroom 2
Exterior features
CABLE AVAILABLE
Appliances
RANGE/STOVE, REFRIGERATOR
Lot features
G E N E R A L L Y L E V E L, S L O P E U P F R O M R O A D
Elementary school
Benjamin Franklin
Elementary school district
Binghamton
Middle school district
Binghamton
High school district
Binghamton
Directions
Court St to Tompkins St to Conklin Ave
Subdivision
Area 03
Standard status
Active Under Contract
Size
1,656 SF
Lot size
0.17 Acres
Utilities
Heating system
Forced Air
Water source
Public
Amenities
laundry hookups
offstreet parking
manageable yard
Building Details
Year built
1922
Number of units
2
Flooring type
Vinyl, Laminate
Building materials
Vinyl
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY GREATER BINGHAMTON
(607) 722-0722
Listed By:
Melissa A. Evans · License #10401351292
(607) 759-6597
Added: Apr 29
Changed: Sep 4
Last Checked: Sep 7 at 3:06PM
MLS# 335673
Copyright © 2026 Greater Binghamton Association of Realtor. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,656-square-foot duplex contains two three-bedroom units within a vinyl-sided residential building constructed in 1922. Interior features include laminate and vinyl flooring, forced-air heat, kitchens equipped with ranges and refrigerators, generous bedroom and closet space, and basement laundry hookups. Separate utilities serve the units, and off-street parking is provided.
The property occupies 0.1745 acres at 330 Conklin Ave in Binghamton’s Southside. Downtown Binghamton is just minutes away, with shopping, dining, parks, schools, and major highway access also nearby. Public water serves the property, and multifamily zoning supports its current residential income use.
The property occupies 0.1745 acres at 330 Conklin Ave in Binghamton’s Southside. Downtown Binghamton is just minutes away, with shopping, dining, parks, schools, and major highway access also nearby. Public water serves the property, and multifamily zoning supports its current residential income use.
Key Highlights
- Two three‑bedroom units in one duplex
- 1,656 square feet on a 0.1745‑acre lot
- Separate utilities for the units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,797
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,940
$295.9K
Cap Rate 7%
$211,386
$211.4K
Cap Rate 9%
$164,411
$164.4K
Market Conditions
NOI Build-Up for 1,656 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.9K $13.80/SF
− Vacancy
−$1.7K −$1.04/SF
EGI
$21.1K $12.77/SF
− OpEx
−$6.3K −$3.83/SF
NOI
$14.8K $8.94/SF
Area
Broome County, NY
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,940
Cap Rate 7%
$211,386
Cap Rate 9%
$164,411
Alternative Uses
Best Use
Multifamily LT 5
$211.4K
$185.0K – $246.6K
NOI $14,797 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$197.1K
$172.5K – $229.9K
NOI $13,796 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$410.8K
$359.5K – $479.3K
NOI $28,759 @ 7.0% cap · market cap 14.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Explore this area
Business Placement
Demographics for 13903, NY
18,140
Population
8,620
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
92%
High-School Grad
39.5 sq mi
ZIP Area
459
Density / Sq Mi
$61,244
Median Household Income
$39,811
Median Earnings
$863
Median Rent
$144,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Multifamily property with two three-bedroom units, separate utilities, basement laundry hookups, and a manageable yard.
Where is this duplex located?
The property is located at 330 Conklin Ave Binghamton, NY.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two three‑bedroom units in one duplex; 1,656 square feet on a 0.1745‑acre lot; Separate utilities for the units
