As-Is
For Sale
$212,500
58 Leroy St, Binghamton, NY 13905
Two-unit property with R-3 zoning and renovation needs.
Property Size1,818 SF
Days on Market55
Property Features for 58 Leroy St
General Information
Standard status
Active
Size
1,818 SF
Property subtype
Multifamily
Zoning
R-3
Additional Details
Asking Price
$212,500
Multifamily Units
2
Building Details
Building Size
1,818 SF
Year Built
1910
Listed By:
Scott Warren, CCIM, CIREC · License #NY #10491212432
(607) 621-0439
Source:
Svn
Added: Aug 12
Changed: Sep 6
Last Checked: Oct 4 at 6:51AM
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 Scott Warren, CCIM, CIREC
Investment Insights
Based on property information with market context.
This two-unit residential property was built in 1910 and is offered in as-is condition, with renovations needed. The property carries R-3 zoning and is positioned within Binghamton’s West Side student-housing market.
The address is within walking distance of Downtown Binghamton and neighborhood amenities, providing access to established nearby services and activity. Its duplex configuration and zoning support continued evaluation as a residential income property.
The address is within walking distance of Downtown Binghamton and neighborhood amenities, providing access to established nearby services and activity. Its duplex configuration and zoning support continued evaluation as a residential income property.
Key Highlights
- Duplex configuration with two residential units
- Built in 1910
- R‑3 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,245
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$324,900
$324.9K
Cap Rate 7%
$232,071
$232.1K
Cap Rate 9%
$180,500
$180.5K
Market Conditions
NOI Build-Up for 1,818 SF
Gross rent
$25.1K $13.80/SF
− Vacancy
−$1.9K −$1.04/SF
EGI
$23.2K $12.77/SF
− OpEx
−$7.0K −$3.83/SF
NOI
$16.2K $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%
$324,900
Cap Rate 7%
$232,071
Cap Rate 9%
$180,500
Alternative Uses
Best Use
Multifamily LT 5
$232.1K
$203.1K – $270.8K
NOI $16,245 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$216.4K
$189.3K – $252.4K
NOI $15,145 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$451.0K
$394.7K – $526.2K
NOI $31,572 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,399
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with R-3 zoning and renovation needs.
Where is this duplex located?
The property is located at 58 Leroy St Binghamton, NY.
What is the asking price?
The asking price for this property is $212,500.
What are key features of this property?
This property features: Duplex configuration with two residential units; Built in 1910; R‑3 zoning
