Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spacious Two-Family Home in Binghamton Title is generated by Realmo AI

    23 Deforest Street, Binghamton, NY 13901

    View on Map
    Claim this Listing
    For Sale
    $79,000

    MULTI_FAMILY - BINGHAMTON, NY

    Property size:
    2,164 SF
    Price / SF:
    $36/SF
    Added:
    May 6, 2026
    Days on Market:
    16
    Last Refresh:
    May 21 at 7:06 pm

    Property Features for 23 Deforest Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    220-2 famity res
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2, Basement
    Parking features
    Garage
    Patio and Porch features
    Porch
    Exterior features
    ENCLOSED PORCH
    Standard status
    Active
    APN
    030200-144-058-0001-005-000-0000
    Size
    2,164 SF

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1900
    Number of units
    2
    Flooring type
    Hardwood
    Building materials
    Vinyl Clad Aluminum
    Architectural style
    Other

    We can help!

    Listing Contact
    Erin C. Whited

    Listing agent Erin C. Whited

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

    Listing date May 6, 2026

    MLS# 335755 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

    • Value‑add duplex with separate utilities.
    • Two‑story detached garage for off‑street parking and storage.
    • Finished attic adds bonus square footage.
    • Second unit rentable with minor updates.
    • First floor unit offers full rehab potential.
    • Enclosed porch.

    Overview

    This spacious two-family home in Binghamton, NY, presents an opportunity for transformation. The property, zoned for two-family residential use, features separate utilities. The first-floor unit requires a full rehabilitation. The second unit is rentable with minor updates. A finished attic provides additional square footage. A two-story detached garage offers off-street parking and storage. The property size is 2164 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.902957
    Latitude
    42.116753

    Nearby Similar for Sale

    • $12

      Prime Binghamton Retail Opportunity

      High-traffic location in revitalizing historic district, ideal for hospitality.
      23 Henry Street, BINGHAMTON, NY 13901
      View Details
    • $827,000
      4,058 SF

      Mixed-Use Property in Historic District

      Three-story mixed-use property with office space and residential rentals.
      136 Court St, BINGHAMTON, NY 13901
      View Details
    • $827,000
      4,058 SF

      Downtown Binghamton Mixed-Use Property

      Three-story mixed-use property with office space and residential rentals.
      136 Court St, BINGHAMTON, NY 13901
      View Details
    • $152,000
      2,312 SF

      Binghamton Triplex on Double Lot

      Triplex near SUNY-Broome with income potential and convenient location.
      14 Deforest Street, Binghamton, NY 13901
      View Details
    • $250,000

      Downtown Binghamton Redevelopment Opportunity

      Five-story downtown property in prime location, ripe for redevelopment.
      81 Court Street, BINGHAMTON, NY 13901
      View Details
    • $135,000
      2,635 SF

      Binghamton Two-Family Brick House

      Two-story, two-family house with investment and renovation potential.
      112 Glenwood Avenue, BINGHAMTON, NY 13905
      View Details
    • $395,000

      Dollar General Binghamton Investment Property

      Freestanding Dollar General in Binghamton, NY with long-term tenant.
      325 Clinton St, Binghamton, NY 13905
      View Details
    • $395,000
      4,900 SF

      Former MIDAS Service Center

      Corner lot with seven garage bays on busy Court Street.
      489 Court Street, Binghamton, NY 13901
      View Details
    • $119,888
      1,798 SF

      Binghamton Multi-Family Fixer-Upper

      Two-unit investment property needing renovation with significant potential.
      7 Charlotte St, Binghamton, NY 13905
      View Details
    • $1,355,000
      7,000 SF

      Advance Auto Parts For Sale

      Advance Auto Parts property for sale in Binghamton, NY.
      75 Robinson St | Binghamton, NY 13901
      View Details
    • $94,900
      3,005 SF

      Binghamton Multifamily Property For Sale

      Three-unit multifamily property with tenants in Binghamton, New York.
      164 Broad Avenue, BINGHAMTON, NY 13904
      View Details
    • $185,000
      1,820 SF

      Turnkey Tavern Business and Real Estate

      Turnkey tavern with equipment included, close to downtown Binghamton.
      165 Conklin Avenue, BINGHAMTON, NY 13903
      View Details

    FAQs

    What type of property is this?
    Duplex - Value-add duplex with separate utilities and significant potential.
    Where is this duplex located?
    The property is located at 23 Deforest Street Binghamton, NY.
    What is the asking price?
    The asking price for this property is $79,000.
    What are key features of this property?
    This property features: Value‑add duplex with separate utilities.; Two‑story detached garage for off‑street parking and storage.; Finished attic adds bonus square footage.
    (607) 727-5609
    We can help!
    Listing Contact
    Erin C. Whited
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    23 Deforest Street, BINGHAMTON, NY 13901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!