Three-Bedroom
For Sale
$255,000
13 Walnut St, Binghamton, NY 13905
Vacant R-3 duplex with two residential units positioned near downtown amenities and the Court Street Bridge.
Property Size1,828 SF
Days on Market57
Property Features for 13 Walnut St
General Information
Standard status
Active
Size
1,828 SF
Property subtype
Multifamily
Zoning
R-3
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Asking Price
$255,000
Public Transit
Yes
Building Details
Building Size
1,828 SF
Year Built
1920
Listed By:
Scott Warren, CCIM, CIREC · License #NY #10491212432
(607) 621-0439
Source:
Svn
Added: Aug 11
Changed: Sep 8
Last Checked: Oct 5 at 4:28PM
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 Scott Warren, CCIM, CIREC
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two three-bedroom residential units with six total beds. The property will be delivered vacant, allowing the next owner to undertake renovation or repositioning without an existing tenancy in place. R-3 zoning supports residential use, including the multifamily configuration currently on site.
Located at 13 Walnut St in Binghamton’s West Side, the property is within walking distance of the Court Street Bridge and Downtown Binghamton. The surrounding area provides access to employment, dining, entertainment, public transportation, and other local amenities. Its existing two-unit layout and six-bedroom configuration suit residential income use, including the student-housing demand described for the area.
Located at 13 Walnut St in Binghamton’s West Side, the property is within walking distance of the Court Street Bridge and Downtown Binghamton. The surrounding area provides access to employment, dining, entertainment, public transportation, and other local amenities. Its existing two-unit layout and six-bedroom configuration suit residential income use, including the student-housing demand described for the area.
Key Highlights
- Two three‑bedroom units with six total beds
- R‑3 zoning supports residential use
- Delivered vacant for renovation or repositioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,334
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,680
$326.7K
Cap Rate 7%
$233,343
$233.3K
Cap Rate 9%
$181,489
$181.5K
Market Conditions
NOI Build-Up for 1,828 SF
Gross rent
$25.2K $13.80/SF
− Vacancy
−$1.9K −$1.04/SF
EGI
$23.3K $12.77/SF
− OpEx
−$7.0K −$3.83/SF
NOI
$16.3K $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%
$326,680
Cap Rate 7%
$233,343
Cap Rate 9%
$181,489
Alternative Uses
Best Use
Multifamily LT 5
$233.3K
$204.2K – $272.2K
NOI $16,334 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$217.6K
$190.4K – $253.8K
NOI $15,229 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$453.5K
$396.8K – $529.1K
NOI $31,746 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,399
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant R-3 duplex with two residential units positioned near downtown amenities and the Court Street Bridge.
Where is this duplex located?
The property is located at 13 Walnut St Binghamton, NY.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two three‑bedroom units with six total beds; R‑3 zoning supports residential use; Delivered vacant for renovation or repositioning
