Three-Unit Multifamily on One
For Sale
$455,000
36 Acre Place, Kirkwood, NY 13904
MULTI_FAMILY - KIRKWOOD, NY
Property Size2,856 SF
Lot Size1.00 Acre
Price / SF$159.31
Days on Market89
Property Features for 36 Acre Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 5, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 1, Basement, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 4
Parking features
Open, Heated, Garage
Patio and Porch features
Porch, Patio
Exterior features
COVERED PATIO, COVERED PORCH, INSULATED WINDOWS, LANDSCAPED, OPEN PATIO, TREES
Appliances
DISHWASHER, RANGE/STOVE, REFRIGERATOR
Lot features
F E N C E D Y A R D, G A R D E N S, G E N E R A L L Y L E V E L
Elementary school
Floyd Bell
Elementary school district
Windsor
Middle school district
Windsor
High school district
Windsor
Directions
Upper court to Acre Place
Subdivision
Area 02
Standard status
Active
APN
033400-162-005-0001-017-000-0000
Size
2,856 SF
Lot size
1.00 Acre
Utilities
Heating system
Forced Air, Baseboard, Radiant, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
radiant heat
fenced-in backyard
fruit trees
blueberries
raspberries
concrete patio
Building Details
Year built
2010
Number of units
3
Flooring type
Hardwood
Building materials
Vinyl
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY GREATER BINGHAMTON
(607) 722-0722
Listed By:
John J. Burns Jr
(607) 725-2122
Added: May 11
Changed: Aug 7
Last Checked: Aug 7 at 2:06PM
MLS# 335845
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.
Investment Insights
Based on property information with market context.
This three-unit multifamily is offered as two buildings on one deed, with a combination of an almost-new single-family house and an updated two-family. Built in 2010, the property includes central air conditioning and multiple heating types, including forced air, baseboard, hot water, and radiant heat. The owner’s residence features a 2-car garage, and the garage level is described as oversized with a layout designed for conversion into additional living space. Interior flooring includes hardwood.
Outside, the property has a deep, fenced-in backyard with fruit trees, blueberries, and raspberries, along with a concrete patio and covered patio and porch areas. Exterior details include landscaped grounds and insulated windows. Paved parking is available, and parking amenities are listed as garage, open, and heated.
The property is served by public water. Easy access to I-81 and 17 is noted, with the home described as minutes to nearby destinations and employers.
Outside, the property has a deep, fenced-in backyard with fruit trees, blueberries, and raspberries, along with a concrete patio and covered patio and porch areas. Exterior details include landscaped grounds and insulated windows. Paved parking is available, and parking amenities are listed as garage, open, and heated.
The property is served by public water. Easy access to I-81 and 17 is noted, with the home described as minutes to nearby destinations and employers.
Key Highlights
- Three units in two buildings on one deed
- R2 zoning
- Built in 2010 with central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,520
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,400
$510.4K
Cap Rate 7%
$364,571
$364.6K
Cap Rate 9%
$283,556
$283.6K
Market Conditions
NOI Build-Up for 2,856 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.4K $13.80/SF
− Vacancy
−$3.0K −$1.04/SF
EGI
$36.5K $12.77/SF
− OpEx
−$10.9K −$3.83/SF
NOI
$25.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,400
Cap Rate 7%
$364,571
Cap Rate 9%
$283,556
Alternative Uses
Best Use
Multifamily LT 5
$364.6K
$319.0K – $425.3K
NOI $25,520 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$339.9K
$297.4K – $396.6K
NOI $23,793 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$708.5K
$620.0K – $826.6K
NOI $49,598 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 13904, NY
9,236
Population
3,962
Households
2.3
Avg Household Size
46
Median Age
19%
College-Educated
81%
High-School Grad
23.7 sq mi
ZIP Area
390
Density / Sq Mi
$56,794
Median Household Income
$36,038
Median Earnings
$884
Median Rent
$111,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R2-zoned three-unit multifamily on one deed with central air, radiant heat, fenced yard, and paved parking.
Where is this multifamily property located?
The property is located at 36 Acre Place Kirkwood, NY.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Three units in two buildings on one deed; R2 zoning; Built in 2010 with central air conditioning
