Two-Family Residential Income
For Sale
$195,000
Pending
9 Hancock St, Binghamton, NY 13903
Well-maintained two-family home with hardwood floors, spacious living areas, and a fully fenced yard.
Property Size1,628 SF
Days on Market120
Property Features for 9 Hancock St
General Information
Standard status
Pending
Size
1,628 SF
Property subtype
Multi Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$61,818
Building Details
Building Size
1,628 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
EXIT REALTY HOMEWARD BOUND
Listed By:
John Farrell · License #30FA0760806
(607) 760-5000
Source:
Elliman
Added: Jul 4
Changed: Oct 25
Last Checked: Oct 30 at 3:15PM
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 EXIT REALTY HOMEWARD BOUND
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Investment Insights
Based on property information with market context.
This well-maintained two-family home offers hardwood floors, spacious living areas, and large closets for storage. The property includes a fully fenced yard and a large private lot, providing outdoor space for day-to-day living.
Located close to shopping, restaurants, schools, parks, and other local amenities, the home balances convenience with privacy. BikeScore of 43 indicates somewhat bikeable conditions, while WalkScore of 48 reflects car-dependent access.
The layout supports two-family living, making it suitable for rental income or owner-occupancy. Property is presented as an owner-occupied option or investment opportunity.
Located close to shopping, restaurants, schools, parks, and other local amenities, the home balances convenience with privacy. BikeScore of 43 indicates somewhat bikeable conditions, while WalkScore of 48 reflects car-dependent access.
The layout supports two-family living, making it suitable for rental income or owner-occupancy. Property is presented as an owner-occupied option or investment opportunity.
Key Highlights
- Two‑family home built in 1900
- Well‑maintained with hardwood floors and spacious living areas
- Large closets for storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,547
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,940
$290.9K
Cap Rate 7%
$207,814
$207.8K
Cap Rate 9%
$161,633
$161.6K
Market Conditions
NOI Build-Up for 1,628 SF
Gross rent
$22.5K $13.80/SF
− Vacancy
−$1.7K −$1.04/SF
EGI
$20.8K $12.77/SF
− OpEx
−$6.2K −$3.83/SF
NOI
$14.5K $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%
$290,940
Cap Rate 7%
$207,814
Cap Rate 9%
$161,633
Alternative Uses
Best Use
Multifamily LT 5
$207.8K
$181.8K – $242.5K
NOI $14,547 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$193.8K
$169.5K – $226.1K
NOI $13,563 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$403.9K
$353.4K – $471.2K
NOI $28,272 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,868
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home with hardwood floors, spacious living areas, and a fully fenced yard.
Where is this duplex located?
The property is located at 9 Hancock St Binghamton, NY.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two‑family home built in 1900; Well‑maintained with hardwood floors and spacious living areas; Large closets for storage
