Three-Unit Multifamily
For Sale
$455,000
36 Acre Place, Kirkwood, NY 13904
MultiFamily, Three Family, KIRKWOOD, NY
Property Size2,856 SF
Lot Size1.00 Acre
Price / SF$159.31
Days on Market111
Property Features for 36 Acre Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 5, Basement, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 2
Parking features
Open, Heated, Garage
Patio and Porch features
Porch, Patio
Exterior features
COVERED PATIO, COVERED PORCH, INSULATED WINDOWS, LANDSCAPED, OPEN PATIO, TREES
Appliances
DISHWASHER, RANGE/STOVE, REFRIGERATOR
Lot features
F E N C E D Y A R D, G A R D E N S, G E N E R A L L Y L E V E L
Elementary school
Floyd Bell
Elementary school district
Windsor
Middle school district
Windsor
High school district
Windsor
Directions
Upper court to Acre Place
Subdivision
Area 02
Standard status
Active
APN
033400-162-005-0001-017-000-0000
Size
2,856 SF
Lot size
1.00 Acre
Utilities
Heating system
Baseboard, Hot Water(Heating), Forced Air, Radiant
Cooling system
Central Air
Water source
Public
Building Details
Year built
2010
Number of units
3
Flooring type
Hardwood
Building materials
Vinyl
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY GREATER BINGHAMTON
(607) 722-0722
Listed By:
John J. Burns Jr
(607) 725-2122
Added: May 11
Changed: Aug 19
Last Checked: Aug 29 at 5:06PM
MLS# 335845
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 multifamily property includes three units across two buildings on a single deed. The newer single-family residence has a two-car garage, second-level living space, central air conditioning, and radiant heat in the concrete floors. The second building is a renovated two-family structure with modern apartments, paved parking, and access to a fenced backyard with landscaped grounds, fruit trees, blueberries, raspberries, and a concrete patio.
The property covers 1 acre and contains 2,856 square feet. Built in 2010, it has R2 zoning, public water, vinyl construction, hardwood flooring, and a mix of baseboard, hot-water, forced-air, and radiant heating systems. Covered porch and patio areas, insulated windows, a heated garage, and open parking add to the physical improvements. The location provides access to I-81 and Route 17 and is within the Windsor school district.
The property covers 1 acre and contains 2,856 square feet. Built in 2010, it has R2 zoning, public water, vinyl construction, hardwood flooring, and a mix of baseboard, hot-water, forced-air, and radiant heating systems. Covered porch and patio areas, insulated windows, a heated garage, and open parking add to the physical improvements. The location provides access to I-81 and Route 17 and is within the Windsor school district.
Key Highlights
- Three units in two buildings on one deed
- 2,856 square feet across a 1‑acre property
- Renovated two‑family building plus newer single‑family residence
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
$23,793
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
5.23%
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%
$475,860
$475.9K
Cap Rate 7%
$339,900
$339.9K
Cap Rate 9%
$264,367
$264.4K
Market Conditions
NOI Build-Up for 2,856 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
$46.3K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$43.3K $15.15/SF
− OpEx
−$19.5K −$6.82/SF
NOI
$23.8K $8.33/SF
Area
Broome County, NY
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$475,860
Cap Rate 7%
$339,900
Cap Rate 9%
$264,367
Alternative Uses
Best Use
Apartment 5plus
$339.9K
$297.4K – $396.6K
NOI $23,793 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$708.5K
$620.0K – $826.6K
NOI $49,598 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 13904, NY
9,236
Population
3,962
Households
2.3
Avg Household Size
46
Median Age
19%
College-Educated
81%
High-School Grad
23.7 sq mi
ZIP Area
390
Density / Sq Mi
$56,794
Median Household Income
$36,038
Median Earnings
$884
Median Rent
$111,200
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?
Multifamily property - Two-building configuration combines a newer single-family residence with a renovated two-family building on one deed.
Where is this multifamily property located?
The property is located at 36 Acre Place Kirkwood, NY.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Three units in two buildings on one deed; 2,856 square feet across a 1‑acre property; Renovated two‑family building plus newer single‑family residence
