Eight-Unit Apartment
For Sale
$730,000
175 Chapin Street, Binghamton, NY 13905
CommercialSale, Binghamton, NY
Property Size7,820 SF
Lot Size0.19 Acres
Price / SF$93.35
Days on Market71
Property Features for 175 Chapin Street
General Information
Property type
Commercial Sale
Property subtype
Apartment
Zoning
YES
Zoning description
Commercial
Rooms
Basement
Parking
8
Lot features
Rectangular, Rectangular Lot
Elementary school district
Binghamton
Middle school district
Binghamton
High school district
Binghamton
Directions
Take Exit 4B toward Binghamton/Corning. Merge onto NY-17 W / I-86 W, then take Exit 72 for Front St/NY-11. Turn left onto Front St, merge onto Route 17C / Main St toward the Westside, then turn onto Chapin St. Property is on the right
Subdivision
Binghamton-City-030200
Standard status
Active
APN
030200-160-031-0002-007-000-0000
Size
7,820 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
11049
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
coin-operated laundry
locked front entry with postal key access
security camera system
Building Details
Year built
1960
Floors in Building
2
Number of units
8
Building materials
Concrete
Roof type
Flat
Listing Agency:
Keller Williams Realty Southern Tier & Finger Lakes
(607) 795-2900
Listed By:
James Connor · License #10401381217
(607) 481-5334
Added: Jul 29
Changed: Sep 12
Last Checked: Oct 7 at 9:06PM
MLS# R1702552
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8-unit multifamily property contains eight individual one-bedroom apartments within a 7,820-square-foot building constructed in 1960. The property includes a basement, concrete construction, a flat roof, natural gas forced-air heating, public water, and public sewer. Each apartment is served by a separate electric meter, while a ninth meter serves common areas. Off-street parking is located behind the building, and an on-site coin-operated laundry provides an additional income source.
A secured front entrance uses postal key access, and a remote-viewable camera system transfers with the property. The building sits on 0.1909 acres in Binghamton, New York, with established rental schedules and tenants who are aware of the sale. The property is compatible with local housing assistance programs and has a history of cooperative tenancy.
A secured front entrance uses postal key access, and a remote-viewable camera system transfers with the property. The building sits on 0.1909 acres in Binghamton, New York, with established rental schedules and tenants who are aware of the sale. The property is compatible with local housing assistance programs and has a history of cooperative tenancy.
Key Highlights
- 8‑unit apartment property with eight individual 1‑bedroom apartments
- 7,820 square feet on 0.1909 acres
- 9 separate electric meters: 8 tenant‑paid and 1 common‑area meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,147
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,302,940
$1.3M
Cap Rate 7%
$930,671
$930.7K
Cap Rate 9%
$723,856
$723.9K
Market Conditions
NOI Build-Up for 7,820 SF
Gross rent
$126.7K $16.20/SF
− Vacancy
−$8.2K −$1.05/SF
EGI
$118.4K $15.15/SF
− OpEx
−$53.3K −$6.82/SF
NOI
$65.1K $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%
$1,302,940
Cap Rate 7%
$930,671
Cap Rate 9%
$723,856
Alternative Uses
Best Use
Apartment 5plus
$930.7K
$814.3K – $1.09M
NOI $65,147 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,805 @ 7.0% cap · market cap 18.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,976
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
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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 - Eight one-bedroom apartments with tenant-paid electric, off-street parking, and on-site laundry support straightforward operations.
Where is this apartment building located?
The property is located at 175 Chapin Street Binghamton, NY.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 8‑unit apartment property with eight individual 1‑bedroom apartments; 7,820 square feet on 0.1909 acres; 9 separate electric meters: 8 tenant‑paid and 1 common‑area meter
