Five-Unit Apartment
For Sale
$370,000
158 Chapin St, Binghamton, NY 13905
Five one-bedroom apartments with established rent schedules and remote-access security monitoring.
Property Size3,231 SF
Price / SF$114.52
Days on Market65
Property Features for 158 Chapin St
General Information
Standard status
Active
Size
3,231 SF
Net Operating Income
$37,539
Units
Unit Mix
5 x 1BR
Multifamily Units
5
Additional Details
Cap Rate
10%
Amenities
high-speed internet
security camera system
Building Details
Year Built
1960
Listing Agency:
Keller Williams Realty Southern Tier & Finger Lakes
Listed By:
James Connor · License #10401381217
(607) 481-5334
Source:
Skinnercnyrealty
Added: Aug 23
Changed: Oct 25
Last Checked: Oct 7 at 5:21PM
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 Keller Williams Realty Southern Tier & Finger Lakes
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Investment Insights
Based on property information with market context.
This 3,231-square-foot apartment property contains five individual one-bedroom units in a building constructed in 1960. The asset has an established rental history, documented annual rent schedules, and tenants who are aware of the sale. Gas service and two parking spaces are included among the property features.
Operations include bundled high-speed internet supporting a remotely accessible security camera system, which transfers to the new owner. The apartments are compatible with local housing assistance programs, and the property is reported at a 10% cap rate.
Operations include bundled high-speed internet supporting a remotely accessible security camera system, which transfers to the new owner. The apartments are compatible with local housing assistance programs, and the property is reported at a 10% cap rate.
Key Highlights
- Five individual 1‑bedroom apartments
- 3,231 SF apartment property built in 1960
- Reported 10% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,917
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,340
$538.3K
Cap Rate 7%
$384,529
$384.5K
Cap Rate 9%
$299,078
$299.1K
Market Conditions
NOI Build-Up for 3,231 SF
Gross rent
$52.3K $16.20/SF
− Vacancy
−$3.4K −$1.05/SF
EGI
$48.9K $15.15/SF
− OpEx
−$22.0K −$6.82/SF
NOI
$26.9K $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%
$538,340
Cap Rate 7%
$384,529
Cap Rate 9%
$299,078
Alternative Uses
Best Use
Apartment 5plus
$384.5K
$336.5K – $448.6K
NOI $26,917 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$801.6K
$701.4K – $935.2K
NOI $56,111 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,075
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
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
Frequently Asked Questions
What type of property is this?
Apartment building - Five one-bedroom apartments with established rent schedules and remote-access security monitoring.
Where is this apartment building located?
The property is located at 158 Chapin St Binghamton, NY.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Five individual 1‑bedroom apartments; 3,231 SF apartment property built in 1960; Reported 10% cap rate
