Three-Unit
For Sale
Contact for pricing
9 Walnut Street, Binghamton, NY 13905
Fully occupied student-rental property with pre-leasing in place for the upcoming academic year.
Property Size3,100 SF
Price / SF$158.06
Days on Market68
Property Features for 9 Walnut Street
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Multifamily
Zoning
R3
Building Details
Year Built
1919
Units
3
Listing Agency:
Kartar Realty
Listed By:
Susan Criscitello · License #10491214164
Source:
Crexi
Added: Aug 11
Changed: Oct 6
Last Checked: Oct 16 at 6:27AM
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 Kartar Realty
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Investment Insights
Based on property information with market context.
This 3,100-square-foot triplex, built in 1919, contains three 3-bedroom units with a combined total of 9 bedrooms and 5 full baths. The property is fully occupied and pre-leased for the upcoming academic year, providing an established residential rental configuration.
Located on Walnut Street in Binghamton’s West Side, the property offers access to downtown, public transportation, and area amenities. Showings require 24-hour notice.
Located on Walnut Street in Binghamton’s West Side, the property offers access to downtown, public transportation, and area amenities. Showings require 24-hour notice.
Key Highlights
- 3,100‑square‑foot triplex built in 1919
- Three 3‑bedroom units with 9 total bedrooms
- 5 full baths across the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,700
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$554,000
$554.0K
Cap Rate 7%
$395,714
$395.7K
Cap Rate 9%
$307,778
$307.8K
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$42.8K $13.80/SF
− Vacancy
−$3.2K −$1.04/SF
EGI
$39.6K $12.77/SF
− OpEx
−$11.9K −$3.83/SF
NOI
$27.7K $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%
$554,000
Cap Rate 7%
$395,714
Cap Rate 9%
$307,778
Alternative Uses
Best Use
Multifamily LT 5
$395.7K
$346.3K – $461.7K
NOI $27,700 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$368.9K
$322.8K – $430.4K
NOI $25,826 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$769.1K
$673.0K – $897.3K
NOI $53,836 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 13905, NY
27,672
Population
13,774
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
28.2 sq mi
ZIP Area
981
Density / Sq Mi
$53,757
Median Household Income
$30,359
Median Earnings
$993
Median Rent
$137,700
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
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied student-rental property with pre-leasing in place for the upcoming academic year.
Where is this triplex located?
The property is located at 9 Walnut Street Binghamton, NY.
What is the asking price?
The asking price for this property is $489,999.
What are key features of this property?
This property features: 3,100‑square‑foot triplex built in 1919; Three 3‑bedroom units with 9 total bedrooms; 5 full baths across the property
