Investment Property for Sale at 52 Leroy Street in Binghamton, New York for $212,500

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52 Leroy Street | BINGHAMTON

$212,500 | 5 Beds (2 Full) | 2,044 Sq. Ft.

52 Leroy Street presents a compelling value-add opportunity in the heart of Binghamton’s established West Side student-housing market. The duplex is offered in as-is condition at $212,500, or approximately $42,500 per bed, compared with an estimated market average of approximately $60,000 per bed for stabilized student-housing properties. Following renovation, the property is projected to generate annual rental income of $43,500 and pro forma net operating income of $24,528. At the asking price, this equates to an approximate 11.54% pro forma capitalization rate, providing an attractive acquisition basis with meaningful potential for income growth and value creation. GBAR MLS #337456

Directions to property: Located on Leroy street, minutes away from Main street and Recreation park. Accessible bus stop locations

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: 
Scott Warren
Listing Agent Phone: 
607-621-0439
Listing Agent Email: 
scottwarrencre [at] gmail [dot] com (send a message)
Listing Office Name: 
INNOVATIVE COMMERCIAL ADVISORS
Listing Office Phone: 
607-203-1826