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Stabilized Student Housing Asset

51 Seminary Ave, Binghamton, NY 13905

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For Sale

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Student housing property with strong rental demand and stable cashflow.

Type:Multifamily

Property size:

2,335 SF

Price / SF:

$153/SF

HighLights

Stabilized student housing asset in Binghamton's prime West Side student corridor.
Strong in‑place yield with a projected 9.03% capitalization rate.
Leases secured for the upcoming semester at $625 per bed.
R‑3 zoning supports high‑density residential use and continued student occupancy.
Proximity to downtown amenities and established transportation routes, including the SUNY bus line.
Functional layout with six bedrooms and two full bathrooms, supporting consistent student occupancy.

We can help!

Contact an agent

Scott Warren

For Sale

Contact for pricing

Student housing property with strong rental demand and stable cashflow.

Type:Multifamily

Property size:

2,335 SF

Price / SF:

$153/SF

Added:: Mar 3, 2026
Days on Market:: 116
Last Refresh:: Mar 16 at 2:01 pm

Property Features for 51 Seminary Ave

General Information

Standard status: Active
Size: 2,335 SF
Property subtype: Multifamily

Building Details

Year Built: 1900

We can help!

Contact an agent

Scott Warren

Listing office SVN Innovative Commercial Advisors

Listing date Mar 3, 2026

Source Crexi

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 SVN Innovative Commercial Advisors

HighLights

Stabilized student housing asset in Binghamton's prime West Side student corridor.
Strong in‑place yield with a projected 9.03% capitalization rate.
Leases secured for the upcoming semester at $625 per bed.
R‑3 zoning supports high‑density residential use and continued student occupancy.
Proximity to downtown amenities and established transportation routes, including the SUNY bus line.
Functional layout with six bedrooms and two full bathrooms, supporting consistent student occupancy.

Overview

This stabilized student housing asset is located in the core of Binghamton’s West Side, within the most established and consistently leased student corridor in the market. The property features six bedrooms and two full bathrooms with a functional layout that supports consistent student occupancy and efficient leasing. Situated within the City’s R-3 zoning district, which supports higher density residential use, the property aligns with the surrounding student housing concentration south of Main Street. This location is desirable for student tenants due to its proximity to downtown amenities and established transportation routes. Leases for the upcoming semester are secured at $625 per bed. The asset is projected to deliver a 9.03% capitalization rate based on current operating expense ratios. The property is within walking distance of the SUNY bus line, providing direct connectivity to Binghamton University, and also walkable to Downtown Binghamton’s restaurants, retail, and entertainment venues. The combination of R-3 zoning, established student density, transportation access, and downtown proximity supports continued rental demand, strong occupancy levels, and long term asset stability. The property size is 2335 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$37.8k	$16.20
− Vacancy	−$2.5k	−$1.05
EGI	$35.4k	$15.15
− OpEx	−$15.9k	−$6.82
NOI	$19.5k	$8.33

2,335 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$277.9K

$243.2K – $324.2K (±1% cap)

NOI $19,453 @ 7.0% cap · market cap 5.42%

Second Best

—

no second resolved use

Theoretical Best

Office A

$579.3K

$506.9K – $675.9K (±1% cap)

NOI $40,551 @ 7.0% cap · market cap 11.30%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Short term rental ...

Suggested Use

Location Insight

Map
Local Demand

City: Binghamton
County: Broome
State: New York
Longitude: -75.9256222
Latitude: 42.0975645

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For sale
Multifamily properties
NY
Binghamton
13905
51 Seminary Ave

What type of property is this?

Multifamily property - Student housing property with strong rental demand and stable cashflow.

Where is this multifamily property located?

The property is located at 51 Seminary Ave Binghamton, NY.

What is the asking price?

The asking price for this property is $359,000.

What are key features of this property?

This property features: Stabilized student housing asset in Binghamton's prime West Side student corridor.; Strong in‑place yield with a projected 9.03% capitalization rate.; Leases secured for the upcoming semester at $625 per bed.