Two-Family Residential Income
123 Beethoven ST Binghamton, NY 13905
For Sale
Contact for pricing
Well-maintained two-family home with separate units featuring 4 and 3 bedrooms for flexible occupancy or rental income.
Property Size2,176 SF
Price / SF$114.89
Days on Market12
Property Features for 123 Beethoven ST
General Information
- Standard status
- Active
- Size
- 2,176 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1907
Listing Agency:
EXIT REALTY HOMEWARD BOUND
(607) 760-5000
Listed By:
John J Farrell · License #NY 0760806
Source:
Crexi
Added: Jul 15
Changed: Jul 25
Last Checked: Jul 26 at 6:55AM
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 well-maintained two-family residential property offers two separate units with distinct bedroom layouts. The first-floor unit features 4 bedrooms, while the second-floor unit offers 3 bedrooms, providing practical flexibility for rental income or owner occupancy.
Located on Binghamton’s West Side, the property is described as being minutes from shopping, schools, parks, downtown Binghamton, and local amenities. It is also noted as being on both city and college bus routes.
The configuration of two separate units with 4 and 3 bedrooms supports a straightforward residential income setup and can also accommodate an owner-occupant scenario where one unit is lived in and the other is rented.
Located on Binghamton’s West Side, the property is described as being minutes from shopping, schools, parks, downtown Binghamton, and local amenities. It is also noted as being on both city and college bus routes.
The configuration of two separate units with 4 and 3 bedrooms supports a straightforward residential income setup and can also accommodate an owner-occupant scenario where one unit is lived in and the other is rented.
Key Highlights
- Well‑maintained two‑family home built in 1907
- First‑floor unit has 4 bedrooms
- Second‑floor unit has 3 bedrooms
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.0k | $13.80 |
| − Vacancy | −$2.3k | −$1.04 |
| EGI | $27.8k | $12.77 |
| − OpEx | −$8.3k | −$3.83 |
| NOI | $19.4k | $8.94 |
2,176 SF · lease $13.80/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$277.8K
$243.1K – $324.1K
NOI $19,444 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$259.0K
$226.6K – $302.1K
NOI $18,128 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$539.8K
$472.4K – $629.8K
NOI $37,789 @ 7.0% cap · market cap 15.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with separate units featuring 4 and 3 bedrooms for flexible occupancy or rental income.
Where is this duplex located?
The property is located at 123 Beethoven ST Binghamton, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1907; First‑floor unit has 4 bedrooms; Second‑floor unit has 3 bedrooms
