Binghamton Multifamily Property For
For Sale
$144,900
162 Oak St, Binghamton, NY 13905
Two-unit multifamily property near downtown Binghamton with low taxes.
Property Size1,260 SF
Lot Size0.10 Acres
Days on Market196
Property Features for 162 Oak St
General Information
Standard status
Active
Size
1,260 SF
Lot size
0.10 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,975
Building Details
Building Size
1,260 SF
Year Built
1900
Units
2
Listed By:
Tricia Cady
(607) 765-3975
Source:
Elliman
Added: Mar 24
Changed: Sep 21
Last Checked: Oct 4 at 12:10PM
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 Tricia Cady
Investment Insights
Based on property information with market context.
This two-unit multifamily property is located in Binghamton, offering proximity to city amenities and downtown within walking distance. The property features a main unit with 4 bedrooms and a smaller studio apartment. Currently rented, the property generates $2020 in monthly rent. The total annual tax bill is $1975.
Key Highlights
- Low annual property taxes: only $1975.
- Income‑generating property: Currently rented for $2020 per month.
- Two‑unit multifamily property.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,259
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$225,180
$225.2K
Cap Rate 7%
$160,843
$160.8K
Cap Rate 9%
$125,100
$125.1K
Market Conditions
NOI Build-Up for 1,260 SF
Gross rent
$17.4K $13.80/SF
− Vacancy
−$1.3K −$1.04/SF
EGI
$16.1K $12.77/SF
− OpEx
−$4.8K −$3.83/SF
NOI
$11.3K $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%
$225,180
Cap Rate 7%
$160,843
Cap Rate 9%
$125,100
Alternative Uses
Best Use
Multifamily LT 5
$160.8K
$140.7K – $187.7K
NOI $11,259 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$150.0K
$131.2K – $175.0K
NOI $10,497 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$312.6K
$273.5K – $364.7K
NOI $21,882 @ 7.0% cap · market cap 15.10%
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
2,149
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit multifamily property near downtown Binghamton with low taxes.
Where is this duplex located?
The property is located at 162 Oak St Binghamton, NY.
What is the asking price?
The asking price for this property is $144,900.
What are key features of this property?
This property features: Low annual property taxes: only $1975.; Income‑generating property: Currently rented for $2020 per month.; Two‑unit multifamily property.
