Three-Unit Apartment
New
For Sale
$201,900
42 Mill St, Binghamton, NY 13903
The residential configuration includes one one-bedroom apartment and two two-bedroom apartments.
Property Size1,774 SF
Days on Market4
Property Features for 42 Mill St
General Information
Standard status
Active
Size
1,774 SF
Property subtype
Multi Family
Additional Details
Unit Mix
1 x 1BR, 2 x 2BR
Taxes and HOA fees
Annual Taxes
$4,801
Building Details
Building Size
1,774 SF
Year Built
1907
Stories
2
Units
2
Listing Agency:
Seven Valley Realty, Inc.
Listed By:
Philip Henry · License #30HE0952053
(607) 423-3175
Source:
Elliman
Added: Nov 3
Last Checked: Nov 4 at 1:09PM
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 Seven Valley Realty, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This triplex contains three apartments: one with a bedroom and two with two bedrooms each. The building dates to 1907.
At 42 Mill St in Binghamton, the property has a Walk Score of 48, characterized as car-dependent, and a Bike Score of 43, characterized as somewhat bikeable.
At 42 Mill St in Binghamton, the property has a Walk Score of 48, characterized as car-dependent, and a Bike Score of 43, characterized as somewhat bikeable.
Key Highlights
- Three apartments: one 1‑bedroom unit and two 2‑bedroom units
- Built in 1907
- Walk Score of 48; described as car‑dependent
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,852
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,040
$317.0K
Cap Rate 7%
$226,457
$226.5K
Cap Rate 9%
$176,133
$176.1K
Market Conditions
NOI Build-Up for 1,774 SF
Gross rent
$24.5K $13.80/SF
− Vacancy
−$1.8K −$1.04/SF
EGI
$22.6K $12.77/SF
− OpEx
−$6.8K −$3.83/SF
NOI
$15.9K $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%
$317,040
Cap Rate 7%
$226,457
Cap Rate 9%
$176,133
Alternative Uses
Best Use
Multifamily LT 5
$226.5K
$198.2K – $264.2K
NOI $15,852 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$211.1K
$184.7K – $246.3K
NOI $14,779 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$440.1K
$385.1K – $513.5K
NOI $30,808 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,072
Businesses Nearby
Explore this area
Business Placement
Demographics for 13903, NY
18,140
Population
8,620
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
92%
High-School Grad
39.5 sq mi
ZIP Area
459
Density / Sq Mi
$61,244
Median Household Income
$39,811
Median Earnings
$863
Median Rent
$144,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Triplexes in Binghamton
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The residential configuration includes one one-bedroom apartment and two two-bedroom apartments.
Where is this triplex located?
The property is located at 42 Mill St Binghamton, NY.
What is the asking price?
The asking price for this property is $201,900.
What are key features of this property?
This property features: Three apartments: one 1‑bedroom unit and two 2‑bedroom units; Built in 1907; Walk Score of 48; described as car‑dependent
