Triplex with Updated
For Sale
$249,900
Pending
823 Conklin Road, Binghamton, NY 13903
Built in 1940, the three-unit property includes a primary residence with an updated kitchen and private outdoor space.
Property Size2,425 SF
Days on Market12
Property Features for 823 Conklin Road
General Information
Standard status
Pending
Size
2,425 SF
Property subtype
Residential Income
Zoning
Multiple Family Residence, Multiple Fami
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,347
Amenities
Deck
Porch
Building Details
Building Size
2,425 SF
Year Built
1940
Buildings
1
Units
3
Listing Agency:
JESSICA DILLENBECK REAL ESTATE LLC
Listed By:
Gaye G Sautro
(607) 341-3482
Source:
Gehlcorealty
Added: Oct 20
Changed: Oct 26
Last Checked: Oct 29 at 10:09PM
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 JESSICA DILLENBECK REAL ESTATE LLC
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Investment Insights
Based on property information with market context.
This 2,425-square-foot triplex dates to 1940 and contains three residential units. The primary residence has an updated kitchen and private outdoor space, with the property described as suitable for owner occupancy, vacation rentals, or multigenerational living.
The configuration allows the primary unit to be occupied while the other two units are used separately. The property is in Binghamton, New York.
The configuration allows the primary unit to be occupied while the other two units are used separately. The property is in Binghamton, New York.
Key Highlights
- 2,425‑square‑foot triplex with three residential units
- Built in 1940
- Primary residence features an updated kitchen and private outdoor space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,669
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$433,380
$433.4K
Cap Rate 7%
$309,557
$309.6K
Cap Rate 9%
$240,767
$240.8K
Market Conditions
NOI Build-Up for 2,425 SF
Gross rent
$33.5K $13.80/SF
− Vacancy
−$2.5K −$1.04/SF
EGI
$31.0K $12.77/SF
− OpEx
−$9.3K −$3.83/SF
NOI
$21.7K $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%
$433,380
Cap Rate 7%
$309,557
Cap Rate 9%
$240,767
Alternative Uses
Best Use
Multifamily LT 5
$309.6K
$270.9K – $361.2K
NOI $21,669 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$288.6K
$252.5K – $336.7K
NOI $20,202 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$601.6K
$526.4K – $701.9K
NOI $42,114 @ 7.0% cap · market cap 16.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Built in 1940, the three-unit property includes a primary residence with an updated kitchen and private outdoor space.
Where is this triplex located?
The property is located at 823 Conklin Road Binghamton, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 2,425‑square‑foot triplex with three residential units; Built in 1940; Primary residence features an updated kitchen and private outdoor space
