Investment Property for Sale at 28 Lydia Street in Binghamton, New York for $165,000

Tools

28 Lydia Street | BINGHAMTON

$165,000 | 6 Beds | 2,464 Sq. Ft.

Standout value-add investment in the revitalizing First Ward. Strong cash flow potential with major upgrades completed: new roof (2024), newer furnace (2019), two hot water heaters, updated plumbing/electrical (2 panels), and vinyl windows. Remaining work includes ~$30K in interior finishes and ~$10K in porch repairs. Pro forma financials show a projected GOI of $48,960 and NOI of $37,000, with an estimated post-renovation cap rate of 18%. Offered at $165K with $40K in renovations, the deal is structured for an 80/100 LTV bridge loan of $172K. Financial highlights include a 2.48 DSCR, 48% ROI, and a GRM of 4.19. The property has one gas and electric meter, two hot water heaters, two electric panels, and one furnace. Utility costs can be allocated using RUBS, with sample lease language provided. Laundry income is possible with two hookups in the basement. With modern systems, grant funding access, and a high-upside location, this is a compelling opportunity for value-focused investors. GBAR MLS #331663

Directions to property: First Ward. Left off of Oak

Contact Information

To inquire about this property, please contact your REALTOR® directly if you are already working with one, or use the contact information provided below to contact the listing agent or brokerage directly. GBAR staff is unable to provide real estate listing information. Please contact one of our REALTOR® members if you need more information about this or any other listing.
Listing Agent Name: 
James Lucenti
Listing Agent Phone: 
607-354-6206
Listing Agent Email: 
James [dot] Lucenti [at] svn [dot] com (send a message)
Listing Office Name: 
INNOVATIVE COMMERCIAL ADVISORS
Listing Office Phone: 
607-203-1826