Two-Family Home with Fenced
For Sale
$195,000
Pending
9 Hancock Street, Binghamton, NY 13903
MULTI_FAMILY - Other - Binghamton, NY
Property Size1,628 SF
Days on Market48
Property Features for 9 Hancock Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3
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
Natural Gas, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Laminate, Hardwood, Varies
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: Aug 4
Last Checked: Aug 16 at 5:06PM
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 well-maintained two-family home offers spacious living areas and practical storage, including large closets. Interior finishes include hardwood, laminate, and varied flooring. The home includes a basement and multiple bedrooms and bathrooms, supported by a gas water heater. Heating is provided by natural gas with baseboard and hot water systems. Exterior materials include aluminum siding and wood siding.
The property sits on a large private lot with a fully fenced yard, providing outdoor space and privacy. Parking includes on-street parking and a garage. Water service is public.
Built in 1900, this two-family layout supports multiple living arrangements, including rental income potential or owner-occupied flexibility, with convenient access to everyday amenities such as shopping, restaurants, schools, parks, and local services.
The property sits on a large private lot with a fully fenced yard, providing outdoor space and privacy. Parking includes on-street parking and a garage. Water service is public.
Built in 1900, this two-family layout supports multiple living arrangements, including rental income potential or owner-occupied flexibility, with convenient access to everyday amenities such as shopping, restaurants, schools, parks, and local services.
Key Highlights
- Two‑family home with spacious living areas and large closets
- Hardwood and laminate flooring with varied finishes
- Natural gas heating with baseboard and hot water systems
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home with hardwood and laminate flooring, natural gas heat, and a fully fenced yard.
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: Two‑family home with spacious living areas and large closets; Hardwood and laminate flooring with varied finishes; Natural gas heating with baseboard and hot water systems
