Student Housing
For Sale
Contact for pricing
101 Oak ST, Binghamton, NY 13905
Residential income asset with occupancy committed through May 2027 and continued local management.
Property Size3,442 SF
Price / SF$108.95
Days on Market56
Property Features for 101 Oak ST
General Information
Standard status
Active
Size
3,442 SF
Property subtype
Multifamily
Zoning
Res
Investment Type
Stabilized
Building Details
Year Built
1890
Buildings
1
Units
3
Tenancy
Single
Listing Agency:
EXIT REALTY HOMEWARD BOUND
Listed By:
John J Farrell · License #NY 0760806
(607) 760-5000
Source:
Crexi
Added: Jul 15
Changed: Sep 7
Last Checked: Sep 7 at 1:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXIT REALTY HOMEWARD BOUND
Investment Insights
Based on property information with market context.
This multifamily property at 101 Oak ST in Binghamton, New York, is configured for student housing and is zoned Res. The residence dates to 1890 and is currently rented through May 2027, providing an established occupancy schedule for the next several years.
Local management is expected to continue after a sale. The property is offered as part of a broader portfolio that also includes 39 St. John Ave, 79 Oak St, and 79 Murray St. Operating information reflects actual rental income and expenses rather than projected pro forma figures.
Local management is expected to continue after a sale. The property is offered as part of a broader portfolio that also includes 39 St. John Ave, 79 Oak St, and 79 Murray St. Operating information reflects actual rental income and expenses rather than projected pro forma figures.
Key Highlights
- Student housing use
- Rented through May 2027
- Local management to continue
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
$28,675
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
7.65%
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%
$573,500
$573.5K
Cap Rate 7%
$409,643
$409.6K
Cap Rate 9%
$318,611
$318.6K
Market Conditions
NOI Build-Up for 3,442 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
$55.8K $16.20/SF
− Vacancy
−$3.6K −$1.05/SF
EGI
$52.1K $15.15/SF
− OpEx
−$23.5K −$6.82/SF
NOI
$28.7K $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%
$573,500
Cap Rate 7%
$409,643
Cap Rate 9%
$318,611
Alternative Uses
Best Use
Apartment 5plus
$409.6K
$358.4K – $477.9K
NOI $28,675 @ 7.0% cap · market cap 7.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$853.9K
$747.2K – $996.3K
NOI $59,775 @ 7.0% cap · market cap 15.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 13905, NY
27,672
Population
13,774
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
28.2 sq mi
ZIP Area
981
Density / Sq Mi
$53,757
Median Household Income
$30,359
Median Earnings
$993
Median Rent
$137,700
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?
Multifamily property - Residential income asset with occupancy committed through May 2027 and continued local management.
Where is this multifamily property located?
The property is located at 101 Oak ST Binghamton, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Student housing use; Rented through May 2027; Local management to continue
