92 Henry St, Binghamton, NY, 13901

Highlights

• Three-unit multifamily property approved for student housing with demand supported by Binghamton University
• $63,116 NOI reflecting an 8.5% Cap Rate and 6.9 GRM
• Estimated 10.94% cash-on-cash return with 70% LTV financing and 1.64 DSCR
• Zoned R-3 multifamily allowing flexible residential use
• Walk score of 88 with off-street parking in an established Binghamton rental area

Description

Stabilized multifamily investment located in Binghamton’s established rental market. The 4,204 SF low-rise building includes three units and is approved for student housing, supporting consistent demand from Binghamton University and nearby downtown uses.

Constructed in 1970 and zoned R-3 multifamily, the property offers flexibility for continued residential use. The asset features off-street parking and a walk score of 88.

Current operations produce $108,000 in Gross Income and $63,116 in Net Operating Income, equating to an 8.5% Cap Rate and a 6.9 GRM. With 70% LTV financing, the property supports a 1.64 DSCR and an estimated 10.94% cash-on-cash return.

A well-located, stabilized student-oriented multifamily opportunity in the Binghamton market.

92 Henry Street is positioned in a proven student housing pocket of Binghamton, just minutes from Binghamton University and directly adjacent to Mirabito Stadium. The surrounding area supports consistent rental demand driven by the university population, nearby athletic facilities, and walkable access to downtown amenities.

The property benefits from close proximity to restaurants, retail, and services along Main Street and the downtown core, while remaining within a residential neighborhood favored by students and long-term renters. Nearby attractions such as Ross Park Zoo and the Discovery Center contribute to overall neighborhood stability and continued investment interest.

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