Fully Occupied 8-Unit
For Sale
$456,000
14 Way Street, Binghamton, NY 13901
8-unit property near Downtown Binghamton with recent major updates.
Property Size4,381 SF
Price / SF$104.09
Days on Market318
Property Features for 14 Way Street
General Information
Standard status
Active
Size
4,381 SF
Property subtype
Multifamily
Net Operating Income
$51,713
Building Details
Building Size
4,381 SF
Year Built
1950
Listed By:
Matthew Karlgut
(607) 953-1509
Source:
Svn
Added: Nov 21, 2025
Changed: Sep 8
Last Checked: Oct 4 at 7:52AM
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 Matthew Karlgut
Investment Insights
Based on property information with market context.
This is an 8-unit property that is currently fully occupied. The property features separate utilities for each unit. Major updates were completed in 2022, including updated electrical and plumbing systems, and a new roof. The property is located within walking distance of Downtown Binghamton and is in close proximity to shopping, dining, and entertainment options. It is located 4 minutes from Downtown Binghamton. New windows were installed.
Key Highlights
- Fully occupied 8‑unit property offering immediate rental income
- Separate utilities simplifies management
- Major updates in 2022 including a new roof, electrical, windows, and plumbing reduces maintenance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,497
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,940
$729.9K
Cap Rate 7%
$521,386
$521.4K
Cap Rate 9%
$405,522
$405.5K
Market Conditions
NOI Build-Up for 4,381 SF
Gross rent
$71.0K $16.20/SF
− Vacancy
−$4.6K −$1.05/SF
EGI
$66.4K $15.15/SF
− OpEx
−$29.9K −$6.82/SF
NOI
$36.5K $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 Rate 5%
$729,940
Cap Rate 7%
$521,386
Cap Rate 9%
$405,522
Alternative Uses
Best Use
Apartment 5plus
$521.4K
$456.2K – $608.3K
NOI $36,497 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$951.0K – $1.27M
NOI $76,082 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,866
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - 8-unit property near Downtown Binghamton with recent major updates.
Where is this apartment building located?
The property is located at 14 Way Street Binghamton, NY.
What is the asking price?
The asking price for this property is $456,000.
What are key features of this property?
This property features: Fully occupied 8‑unit property offering immediate rental income; Separate utilities simplifies management; Major updates in 2022 including a new roof, electrical, windows, and plumbing reduces maintenance
