Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    14 Clarke St Binghamton, NY 13905
    Back to Search
    Property profile & analytics

    14 Clarke St Binghamton, NY 13905

    View on Map
    • Commercial real estate
    • 2,825 SF
    • 0.17 lot acres
    For Sale
    $315,000
    View Listing →
    Fully Rented Multifamily Investment Property For Sale
    $315,000

    Fully Rented Multifamily Investment Property

    Six-unit multifamily property in Binghamton, NY with steady rental history.

    14 Clarke St, Binghamton, NY 13905
    View Listing
    Property ID
    US63-2299515
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 14 Clarke St

    Year built
    1960
    Lot size
    0.17 lot acres
    Property size
    2,825 SF
    Property type
    Commercial real estate

    Description

    This well-maintained six-unit apartment building presents a compelling investment opportunity in Binghamton, New York. Located on Clarke Street, this property boasts a prime West Side location, within walking distance of Seton Catholic High School and Recreation Park, offering convenient access to amenities and public transportation. The building, constructed in 1960 and situated on a 0.17-acre lot, comprises 2,825 square feet and features six one-bedroom units, making it ideal for student housing given its proximity to the school and bus lines. Recent updates include a new front porch portico, rear roof replacement, and structural renovations completed in 2024, along with the installation of two new hot water heaters in 2022. The property benefits from separate meters for each unit and is currently generating a Net Operating Income (NOI) of $33,699, representing a 9.39% capitalization rate. The asking price is $359,000, translating to $59,833 per unit and $127 per square foot. This property offers a strong potential for rental income growth due to its below-market rents and desirable location. The R1 zoning permits one-bedroom units, further enhancing its suitability for student housing. This is a turnkey investment opportunity with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.929561
    Latitude
    42.1001569

    Comparable in this City

    • $669,000
      4,918 SF

      Mixed-Use Building with Rental Income

      Well-maintained 9-unit building with recent capital improvements.
      132 Main St, Binghamton, NY 13905
      View Details
    • $699,000
      5,415 SF

      Student Housing Opportunity

      Student housing property for sale.
      5 Leroy St, Binghamton, NY 13905
      View Details
    • $1,650,000

      Binghamton Apartment Complex For Sale

      20-unit apartment complex in established rental corridor, suitable for students.
      162 Chapin St, Binghamton, NY 13905
      View Details
    • $380,000

      Renovated Multifamily Property in Binghamton

      Stabilized 6-unit building in Binghamton's West Side, ideal for investors.
      325 Main St, Binghamton, NY 13905
      View Details
    • Contact for pricing

      Fully Rented Multifamily Investment Property

      Six-unit multifamily property in Binghamton, NY with steady rental history.
      14 Clarke St, Binghamton, NY 13905
      View Details
    • $3,699,000

      Binghamton Student Housing Complex

      Well-maintained 51-unit student housing complex in Binghamton's West Side.
      1 Mather St, Binghamton, NY 13905
      View Details

    Similar Nearby for Sale

    • $1,650,000

      Binghamton Apartment Complex For Sale

      20-unit apartment complex in established rental corridor, suitable for students.
      162 Chapin St, Binghamton, NY 13905
      View Details
    • $380,000

      Renovated Multifamily Property in Binghamton

      Stabilized 6-unit building in Binghamton's West Side, ideal for investors.
      325 Main St, Binghamton, NY 13905
      View Details
    • $669,000
      4,918 SF

      Mixed-Use Building with Rental Income

      Well-maintained 9-unit building with recent capital improvements.
      132 Main St, Binghamton, NY 13905
      View Details
    • $699,000
      5,415 SF

      Student Housing Opportunity

      Student housing property for sale.
      5 Leroy St, Binghamton, NY 13905
      View Details
    • Contact for pricing

      Student Housing Near SUNY Binghamton

      Class-A student housing near SUNY Binghamton with high occupancy rates.
      7-9 Court St, Binghamton, NY 13905
      View Details
    • $1,499,000

      Binghamton Multifamily Investment Opportunity

      Renovated 16-unit multifamily property in prime student housing location.
      327 Main St, Binghamton, NY 13905
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Front Street

      2,484 SF retail space available for lease.
      1257 Front St, Binghamton, NY 13905
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Binghamton

      Retail space available for rent in Binghamton, New York.
      10 Glenwood Ave, Binghamton, NY 13905
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    14 Clarke St
    Binghamton, NY 13905
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    14 Clarke St, Binghamton, NY, 13905
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!