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    Three-Unit Residential Income Property Title is generated by Realmo AI

    164 Broad Avenue, Binghamton, NY 13904

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    Claim this Listing
    For Sale
    Under Contract
    $94,900

    MULTI_FAMILY - BINGHAMTON, NY

    Property size:
    3,005 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $31/SF
    Added:
    May 11, 2026
    Days on Market:
    27
    Last Refresh:
    Jun 6 at 9:06 am

    Property Features for 164 Broad Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RES
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bedroom 5, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 6, Bathroom 3, Bedroom 2, Basement
    Exterior features
    SHRUBS/FLOWERS, TREES
    Standard status
    Active Under Contract
    Size
    3,005 SF
    Lot size
    0.12 Acres

    Utilities

    Water source
    Public

    Building Details

    Year built
    1900
    Number of units
    3
    Building materials
    Vinyl
    Architectural style
    Other

    We can help!

    Listing Contact
    Karen Louise Whalen

    Listing agent Karen Louise Whalen

    Listing office KELLER WILLIAMS REALTY GREATER BINGHAMTON 49 Court Street Suite 300B Suite 300B, Binghamton, NY

    Listing date May 11, 2026

    MLS# 335771 Listing URL

    Copyright © 2026 Greater Binghamton Association of Realtor. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Multi‑unit property with three units and three bathrooms
    • First and second floor currently occupied; third unit is vacant
    • Sold "As Is" with tenants
    • Public water service
    • Vinyl exterior construction; year built 1900
    • Basement included

    Overview

    This property is a three-unit residential income building featuring three bathrooms across the units. The sale is being offered “as-is” with tenants in place. The first and second floor units are currently occupied, while the third unit is vacant, allowing for potential immediate occupancy or quicker turnover depending on a buyer’s plans.

    The property is located at 164 Broad Avenue in Binghamton, New York, in Broome County. The listed lot size is 0.12 acres, and the total building size is 3,005 square feet. Zoning is listed as RES.

    For investors or owner-occupants seeking a manageable, smaller multi-family setup, the current configuration provides a mix of occupied and vacant space within the same building. Buyers should plan for due diligence and any needed repairs or updates given the “as-is” offering, and they should coordinate directly for access and to confirm unit details with the listing contact.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.889575
    Latitude
    42.117687

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    FAQs

    What type of property is this?
    Triplex - Three-unit property with three bathrooms sold as-is with tenants, including one vacant unit ready for immediate occupancy.
    Where is this triplex located?
    The property is located at 164 Broad Avenue Binghamton, NY.
    What is the asking price?
    The asking price for this property is $94,900.
    What are key features of this property?
    This property features: Multi‑unit property with three units and three bathrooms; First and second floor currently occupied; third unit is vacant; Sold "As Is" with tenants
    (607) 727-6232
    We can help!
    Listing Contact
    Karen Louise Whalen
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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