Stabilized Multifamily
For Sale
Contact for pricing
36 Fayette Street, Binghamton, NY 13901
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 Market71
Property Features for 36 Fayette Street
General Information
Standard status
Active
Size
8,024 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
11
Building Details
Year Built
1940
Buildings
2
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Amity Deubler · License #10401395123
Source:
Crexi
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 28 at 11:08PM
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
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
$66,847
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
7.04%
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%
$1,336,940
$1.3M
Cap Rate 7%
$954,957
$955.0K
Cap Rate 9%
$742,744
$742.7K
Market Conditions
NOI Build-Up for 8,024 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
$130.0K $16.20/SF
− Vacancy
−$8.4K −$1.05/SF
EGI
$121.5K $15.15/SF
− OpEx
−$54.7K −$6.82/SF
NOI
$66.8K $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 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%
$1,336,940
Cap Rate 7%
$954,957
Cap Rate 9%
$742,744
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,785
Businesses Nearby
Explore this area
Business Placement
Demographics for 13901, NY
20,548
Population
10,148
Households
2
Avg Household Size
40
Median Age
26%
College-Educated
87%
High-School Grad
23.0 sq mi
ZIP Area
893
Density / Sq Mi
$54,165
Median Household Income
$36,897
Median Earnings
$806
Median Rent
$152,800
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?
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
