2-Unit
13 Aldrich Avenue, Binghamton, NY 13903
For Sale
$185,000
Both residences have two bedrooms and a full bathroom, with gas and electric service paid separately by occupants.
Property Size1,332 SF
Price / SF$138.89
Days on Market76
Property Features for 13 Aldrich Avenue
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
Landscaping
Porch
Building Details
Building Size
Year Built
Units
Listing Agency:
HOWARD HANNA
(607) 772-1177
Listed By:
Adison R Strait
(607) 352-0859
Source:
Lindakentrealestate
Added: Aug 31
Changed: Nov 11
Last Checked: Nov 13 at 6:39PM
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 HOWARD HANNA
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Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains 1,332 square feet across two residences. Each unit has two bedrooms and one full bathroom. The property is zoned for multifamily use.
Shopping, local services, and public transportation are accessible from the property. Occupants pay their own gas and electric costs, while water is covered by the owner.
Shopping, local services, and public transportation are accessible from the property. Occupants pay their own gas and electric costs, while water is covered by the owner.
Key Highlights
- Two units, each with two bedrooms and one full bathroom
- 1,332 square feet; built in 1920
- Multifamily zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,902
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,040
$238.0K
Cap Rate 7%
$170,029
$170.0K
Cap Rate 9%
$132,244
$132.2K
Market Conditions
NOI Build-Up for 1,332 SF
Gross rent
$18.4K $13.80/SF
− Vacancy
−$1.4K −$1.04/SF
EGI
$17.0K $12.77/SF
− OpEx
−$5.1K −$3.83/SF
NOI
$11.9K $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%
$238,040
Cap Rate 7%
$170,029
Cap Rate 9%
$132,244
Alternative Uses
Best Use
Multifamily LT 5
$170.0K
$148.8K – $198.4K
NOI $11,902 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$158.5K
$138.7K – $185.0K
NOI $11,097 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$330.5K
$289.2K – $385.5K
NOI $23,132 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
851
Businesses Nearby
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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
$144,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Binghamton, NY
Properties on Market for Duplexes in Binghamton
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms and a full bathroom, with gas and electric service paid separately by occupants.
Where is this duplex located?
The property is located at 13 Aldrich Avenue Binghamton, NY.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two units, each with two bedrooms and one full bathroom; 1,332 square feet; built in 1920; Multifamily zoning
