Renovated Multifamily Property with
28 Emma Street, Binghamton, NY 13905
For Sale
$270,000
The renovated, fully leased property has a garage and additional off-street parking.
Property Size2,835 SF
Price / SF$95.24
Days on Market93
Property Features for 28 Emma Street
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Tenancy
Listing Agency:
INNOVATIVE COMMERCIAL ADVISORS
(607) 203-1826
Listed By:
Vincent Lucenti · License NY #10401398268
(607) 422-5076
Source:
Lindakentrealestate
Added: Aug 10
Changed: Nov 7
Last Checked: Nov 9 at 5:23PM
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 INNOVATIVE COMMERCIAL ADVISORS
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Investment Insights
Based on property information with market context.
At 28 Emma Street, this multifamily property contains eight bedrooms within 2,835 square feet. A full renovation has been completed, and the building also includes a two-car garage and off-street parking. The property was built in 1900 and is zoned Limited Neighborhood Comm, Limited Neigh.
The address is minutes from downtown Binghamton and Binghamton University's Health Sciences campus. The property is currently 100% leased.
The address is minutes from downtown Binghamton and Binghamton University's Health Sciences campus. The property is currently 100% leased.
Key Highlights
- Eight bedrooms across 2,835 square feet
- Fully renovated multifamily property
- Two‑car garage plus off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,618
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,360
$472.4K
Cap Rate 7%
$337,400
$337.4K
Cap Rate 9%
$262,422
$262.4K
Market Conditions
NOI Build-Up for 2,835 SF
Gross rent
$45.9K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$42.9K $15.15/SF
− OpEx
−$19.3K −$6.82/SF
NOI
$23.6K $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%
$472,360
Cap Rate 7%
$337,400
Cap Rate 9%
$262,422
Alternative Uses
Best Use
Apartment 5plus
$337.4K
$295.2K – $393.6K
NOI $23,618 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$703.3K
$615.4K – $820.6K
NOI $49,234 @ 7.0% cap · market cap 18.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
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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
$137,700
Median Home Value
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Market
Average Price Trend$/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 renovated, fully leased property has a garage and additional off-street parking.
Where is this multifamily property located?
The property is located at 28 Emma Street Binghamton, NY.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Eight bedrooms across 2,835 square feet; Fully renovated multifamily property; Two‑car garage plus off‑street parking
