Duplex with Fenced
For Sale
$195,000
Pending
9 Hancock Street, Binghamton, NY 13903
Residential, Binghamton, NY
Property Size1,628 SF
Days on Market98
Property Features for 9 Hancock Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Basement, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1
Parking features
On Street, Garage
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Binghamton
Middle school district
Binghamton
High school district
Binghamton
Directions
Conklin Ave to Birch to Hancock.
Subdivision
Binghamton-City-030200
Standard status
Pending
APN
160.58-2-25
Size
1,628 SF
Taxes and HOA fees
Tax Annual Amount
61818
Utilities
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Laminate
Building materials
AluminumSiding, WoodSiding
Architectural style
Other
Listing Agency:
EXIT Realty Homeward Bound
(607) 729-5500
Listed By:
John Farrell · License #30FA0760806
(607) 760-5000
Added: Jun 30
Changed: Sep 16
Last Checked: Oct 5 at 12:06PM
MLS# R1695028
Copyright © 2026 New York State Alliance of MLSs, LLC. 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 1,628-square-foot duplex, built in 1900, includes four bedrooms, two bathrooms, and a basement. The interior combines hardwood and laminate flooring with baseboard heating supplied by natural gas, while the property has aluminum and wood siding. A gas water heater and public water service are also in place.
The residence occupies a private lot with a fully fenced yard and offers both garage and on-street parking. Shopping, restaurants, schools, and parks are located nearby. The two-family layout can support separate household use or an owner-occupied arrangement, as stated in the property information.
The residence occupies a private lot with a fully fenced yard and offers both garage and on-street parking. Shopping, restaurants, schools, and parks are located nearby. The two-family layout can support separate household use or an owner-occupied arrangement, as stated in the property information.
Key Highlights
- 1,628‑square‑foot duplex with 4 bedrooms and 2 bathrooms
- Built in 1900 with aluminum and wood siding
- Hardwood and laminate flooring throughout the residence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,547
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residence with hardwood flooring, a private enclosed yard, garage parking, and convenient access to everyday services.
Where is this duplex located?
The property is located at 9 Hancock Street 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: 1,628‑square‑foot duplex with 4 bedrooms and 2 bathrooms; Built in 1900 with aluminum and wood siding; Hardwood and laminate flooring throughout the residence
