Mixed-Use Triplex with Salon
New
For Sale
$269,888
654 CHENANGO ST., Binghamton, NY 13901
MULTI_FAMILY - Binghamton, NY
Property Size2,860 SF
Lot Size0.11 Acres
Price / SF$94.37
Days on Market6
Property Features for 654 CHENANGO ST.
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
Standard status
Active
Size
2,860 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
2172
Utilities
Water source
Public
Amenities
updated windows
new bathroom siding
separate utilities
gas forced-air furnace
mini-splits
full basement
detached 2-car garage
additional off-street parking
municipal sewer and public water
low-maintenance carpet and vinyl flooring
large windows
Building Details
Year built
1960
Floors in Building
2
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
LOMBARDO HOMES & ESTATES
(516) 200-6448
Listed By:
Joseph Lombardo · License #10311204851
(516) 200-6448
Added: Jul 27
Changed: Jul 29
Last Checked: Aug 1 at 7:06AM
MLS# 11905720
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use triplex at 654 Chenango St. offers three income-producing units within a total 2,860 square feet of space. The first-floor front unit is a beauty salon (about 460 square feet) with updated electric, mini-split heating and cooling, and a half-bath with washer/dryer and kitchenette. The first-floor rear unit is a one-bedroom, one-bath apartment (about 690 square feet). The second floor plus attic includes a three-bedroom apartment (about 1,246 square feet total), with two additional bedrooms added at the attic level. The property includes updated windows throughout, new bathroom siding, and separate utilities for all units, along with a full basement for utilities and storage.
Heating and cooling consist of gas forced-air for the residential units and efficient mini-splits in the salon. There is a detached large 2-car garage plus additional off-street parking, served by municipal sewer and public water. Flooring is described as low-maintenance carpet and vinyl, with large windows providing natural light.
All units are currently tenant-occupied, with salon and the one-bedroom apartment on month-to-month terms and the larger three-bedroom unit on a lease through February.
Heating and cooling consist of gas forced-air for the residential units and efficient mini-splits in the salon. There is a detached large 2-car garage plus additional off-street parking, served by municipal sewer and public water. Flooring is described as low-maintenance carpet and vinyl, with large windows providing natural light.
All units are currently tenant-occupied, with salon and the one-bedroom apartment on month-to-month terms and the larger three-bedroom unit on a lease through February.
Key Highlights
- 1960‑built mixed‑use triplex with 2,860 sq ft total space and 3 income‑producing units
- Current income: $2,620/month ($31,440/year) with month‑to‑month salon and 1‑bedroom leases plus 2‑bedroom unit lease through February
- Salon unit (approx. 460 sq ft) includes mini‑split HVAC and half‑bath with washer/dryer; tenant pays $800/month (month‑to‑month)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.3k | $16.20 |
| − Vacancy | −$3.0k | −$1.05 |
| EGI | $43.3k | $15.15 |
| − OpEx | −$19.5k | −$6.82 |
| NOI | $23.8k | $8.33 |
2,860 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Retail
$411.0K
$359.6K – $479.5K
NOI $28,769 @ 7.0% cap · market cap 10.66%
Second Best
Multifamily LT 5
$365.1K
$319.5K – $425.9K
NOI $25,556 @ 7.0% cap · market cap 9.47%
Theoretical Best
Office A
$709.5K
$620.9K – $827.8K
NOI $49,668 @ 7.0% cap · market cap 18.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
180
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three income-producing units include a first-floor beauty salon plus two residential apartments with separate utilities.
Where is this triplex located?
The property is located at 654 CHENANGO ST. Binghamton, NY.
What is the asking price?
The asking price for this property is $269,888.
What are key features of this property?
This property features: 1960‑built mixed‑use triplex with 2,860 sq ft total space and 3 income‑producing units; Current income: $2,620/month ($31,440/year) with month‑to‑month salon and 1‑bedroom leases plus 2‑bedroom unit lease through February; Salon unit (approx. 460 sq ft) includes mini‑split HVAC and half‑bath with washer/dryer; tenant pays $800/month (month‑to‑month)
