Stabilized Multifamily
36 Fayette Street Binghamton, NY 13901
For Sale
Contact for pricing
Two fully occupied apartment buildings total 11 units with separate electric meters and recent roof and interior upgrades.
Property Size8,024 SF
Price / SF$118.38
Days on Market33
Property Features for 36 Fayette Street
General Information
- Standard status
- Active
- Size
- 8,024 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1940
Listing Agency:
eXp Realty
Listed By:
Amity Deubler · License #10401395123
Source:
Crexi
Added: Jun 22
Changed: Jul 22
Last Checked: Jul 23 at 5:59AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This offering includes two separate apartment buildings totaling 11 fully occupied units. The property reports $10,325 in monthly rental income and has benefited from capital improvements, including newer roofs installed in 2019 and 2025, along with numerous interior updates across the portfolio. Ownership has upgraded flooring, kitchens, bathrooms, and appliances in many units.
Operationally, the buildings are supported by separate electric meters, with tenants responsible for their own electric service. The asset is positioned near Downtown Binghamton employers, public transportation, restaurants, entertainment venues, and Mirabito Stadium.
Overall, it presents as a maintained, stabilized multifamily investment with documented occupancy and consistent rental performance, supported by recent exterior and interior renovation work.
Operationally, the buildings are supported by separate electric meters, with tenants responsible for their own electric service. The asset is positioned near Downtown Binghamton employers, public transportation, restaurants, entertainment venues, and Mirabito Stadium.
Overall, it presents as a maintained, stabilized multifamily investment with documented occupancy and consistent rental performance, supported by recent exterior and interior renovation work.
Key Highlights
- Two separate buildings in Downtown Binghamton with 11 fully occupied apartment units
- Generates $10,325 in monthly rental income from the 11 units
- Newer roofs installed in 2019 and 2025
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.0k | $16.20 |
| − Vacancy | −$8.4k | −$1.05 |
| EGI | $121.5k | $15.15 |
| − OpEx | −$54.7k | −$6.82 |
| NOI | $66.8k | $8.33 |
8,024 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$955.0K
$835.6K – $1.11M
NOI $66,847 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,348 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Two fully occupied apartment buildings total 11 units with separate electric meters and recent roof and interior upgrades.
Where is this apartment building located?
The property is located at 36 Fayette Street Binghamton, NY.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Two separate buildings in Downtown Binghamton with 11 fully occupied apartment units; Generates $10,325 in monthly rental income from the 11 units; Newer roofs installed in 2019 and 2025
