Triplex with Off-Street
For Sale
Contact for pricing
40 Leroy Street, Binghamton, NY 13905
Three-unit residential property with seven bedrooms, updated windows, and current leasing activity.
Property Size2,022 SF
Price / SF$123.64
Days on Market66
Property Features for 40 Leroy Street
General Information
Standard status
Active
Size
2,022 SF
Property subtype
Multifamily
Zoning
R3
Additional Details
Gross Income
$38,580
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1910
Units
3
Listing Agency:
Kartar Realty
Listed By:
Susan Criscitello · License #10491214164
Source:
Crexi
Added: Aug 11
Changed: Oct 14
Last Checked: Oct 12 at 5:05PM
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 Kartar Realty
Investment Insights
Based on property information with market context.
Built in 1910, this R3-zoned triplex contains three residential units with seven bedrooms in total. Updated windows, a water heater installed approximately 3 years ago, a sump pump, and off-street parking are among the property improvements. Two units are leased for the upcoming academic year, with income already in place from the existing tenancy.
Key Highlights
- Three‑unit property with 7 total bedrooms
- R3 zoning supports the existing multifamily configuration
- Two units leased for the upcoming academic year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,068
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,360
$361.4K
Cap Rate 7%
$258,114
$258.1K
Cap Rate 9%
$200,756
$200.8K
Market Conditions
NOI Build-Up for 2,022 SF
Gross rent
$27.9K $13.80/SF
− Vacancy
−$2.1K −$1.04/SF
EGI
$25.8K $12.77/SF
− OpEx
−$7.7K −$3.83/SF
NOI
$18.1K $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 Rate 5%
$361,360
Cap Rate 7%
$258,114
Cap Rate 9%
$200,756
Alternative Uses
Best Use
Multifamily LT 5
$258.1K
$225.9K – $301.1K
NOI $18,068 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$240.6K
$210.6K – $280.8K
NOI $16,845 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$501.6K
$438.9K – $585.3K
NOI $35,115 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,735
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Triplex - Three-unit residential property with seven bedrooms, updated windows, and current leasing activity.
Where is this triplex located?
The property is located at 40 Leroy Street Binghamton, NY.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Three‑unit property with 7 total bedrooms; R3 zoning supports the existing multifamily configuration; Two units leased for the upcoming academic year
