Multifamily Property with Vinyl
16 High St, Binghamton, NY 13903
For Sale
$265,000
The residence includes distinct living and dining areas and residential multi-unit zoning.
Property Size2,400 SF
Price / SF$110.42
Days on Market85
Property Features for 16 High St
General Information
Standard status
Size
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Zane Promee
(631) 248-0027
Source:
Lindakentrealestate
Added: Aug 18
Changed: Nov 7
Last Checked: Nov 10 at 2:30PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This multifamily property contains 2,400 square feet and was built in 1900. Its layout includes 3 bedrooms, 1 full bathroom, 1 half bathroom, and separate living and dining areas. Vinyl flooring has been remodeled.
The property is zoned Res Multi Unit Dwelling and Res Multi Unit.
The property is zoned Res Multi Unit Dwelling and Res Multi Unit.
Key Highlights
- 2,400 square feet of property size
- 3 bedrooms, 1 full bathroom, and 1 half bathroom
- Remodeled vinyl flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,994
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,880
$399.9K
Cap Rate 7%
$285,629
$285.6K
Cap Rate 9%
$222,156
$222.2K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$38.9K $16.20/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$36.4K $15.15/SF
− OpEx
−$16.4K −$6.82/SF
NOI
$20.0K $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%
$399,880
Cap Rate 7%
$285,629
Cap Rate 9%
$222,156
Alternative Uses
Best Use
Apartment 5plus
$285.6K
$249.9K – $333.2K
NOI $19,994 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$595.4K
$521.0K – $694.7K
NOI $41,679 @ 7.0% cap · market cap 15.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,783
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 Multifamily properties in Binghamton, NY
Properties on Market for Multifamily properties in Binghamton
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - The residence includes distinct living and dining areas and residential multi-unit zoning.
Where is this multifamily property located?
The property is located at 16 High St Binghamton, NY.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2,400 square feet of property size; 3 bedrooms, 1 full bathroom, and 1 half bathroom; Remodeled vinyl flooring
