75.5 Pine, Binghamton, NY 13901

Property Description

This stabilized, cash-flowing 5-unit property in Binghamton delivers a Net Operating Income of $34,915.75 at a 12.98% cap rate — nearly a 13% return with property management factored in. Self-managed, NOI climbs to roughly $40,017, pushing the cap rate closer to 14.9% for hands-on investors. Featuring 6 electric meters and 5 gas meters, utilities are set up for efficiency. Located just minutes from Downtown, with easy access to Binghamton University, major hospitals, and public transportation, the property attracts long-term, dependable tenants — students, professionals, and medical staff — ensuring consistent occupancy. Buyer confidence is built in: a full inspection report is available, a list of completed repairs is on hand, and a recent appraisal report valued the property at $287,000 with no repairs needed — over $17,000 above list price. A turnkey, low-maintenance investment with strong cash flow, immediate equity, and a proven rent roll — it performs from day one!