Updated 3-Unit
For Sale
$275,000
Pending
121 Eldredge St, Binghamton, NY 13901
Three occupied residences feature updated kitchens, new appliances, and a two-car garage.
Property Size2,508 SF
Days on Market12
Property Features for 121 Eldredge St
General Information
Standard status
Pending
Size
2,508 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
3 Family Res, 3 Family Res
Occupancy
100%
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,181
Amenities
covered rear porch
Porch
Building Details
Building Size
2,508 SF
Year Built
1938
Buildings
1
Units
3
Listing Agency:
EXIT REALTY HOMEWARD BOUND
Listed By:
MD Rajaul Karim · License #10401378536
(607) 651-8125
Source:
Gehlcorealty
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 29 at 10:06PM
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
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Investment Insights
Based on property information with market context.
This 2,508-square-foot triplex, built in 1938, contains three separate residences. The main unit has an open layout with three bedrooms. Improvements include vinyl siding, updated flooring, modernized kitchens, and new appliances. A covered rear porch, two-car garage, and off-street parking serve the property.
All three units are currently rented. The property is zoned 3 Family Res.
All three units are currently rented. The property is zoned 3 Family Res.
Key Highlights
- Three separate residences; all units are rented
- 2,508 square feet; built in 1938
- Main unit has an open layout and three bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,410
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,200
$448.2K
Cap Rate 7%
$320,143
$320.1K
Cap Rate 9%
$249,000
$249.0K
Market Conditions
NOI Build-Up for 2,508 SF
Gross rent
$34.6K $13.80/SF
− Vacancy
−$2.6K −$1.04/SF
EGI
$32.0K $12.77/SF
− OpEx
−$9.6K −$3.83/SF
NOI
$22.4K $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 Rate 5%
$448,200
Cap Rate 7%
$320,143
Cap Rate 9%
$249,000
Alternative Uses
Best Use
Multifamily LT 5
$320.1K
$280.1K – $373.5K
NOI $22,410 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$298.5K
$261.2K – $348.2K
NOI $20,894 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$622.2K
$544.4K – $725.9K
NOI $43,555 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,249
Businesses Nearby
Explore this area
Business Placement
Demographics for 13901, NY
20,548
Population
10,148
Households
2
Avg Household Size
40
Median Age
26%
College-Educated
87%
High-School Grad
23.0 sq mi
ZIP Area
893
Density / Sq Mi
$54,165
Median Household Income
$36,897
Median Earnings
$806
Median Rent
$152,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residences feature updated kitchens, new appliances, and a two-car garage.
Where is this triplex located?
The property is located at 121 Eldredge St Binghamton, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Three separate residences; all units are rented; 2,508 square feet; built in 1938; Main unit has an open layout and three bedrooms
