52 Leroy Street
$212,500
52 Leroy Street, Binghamton, NY 13905
11.54
Cap Rate
2,044 sqft
Building Size
Details:
Description:
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.
52 Leroy Street is centrally located in the heart of Binghamton’s established West Side student-housing market. The property is situated within the R-3 zoning district, making it well suited for student and multifamily housing uses. Its walkable proximity to Downtown Binghamton provides convenient access to employment, dining, entertainment, public transportation, and other community amenities.
Duplex in Binghamton’s established West Side student-housing market
Desirable R-3 zoning
Asking price of $212,500
Attractive acquisition basis of approximately $42,500 per bed
Below the estimated $60,000-per-bed average for stabilized student housing
Offered in as-is condition
Value-add opportunity with renovations needed
Projected annual rental income of $43,500 after renovation
Stabilized pro forma NOI of $24,528
Approximately 11.5% pro forma capitalization rate at the asking price
Walking distance to Downtown Binghamton and neighborhood amenities
Documents:
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| 52 Leroy St. - 2 Page Flyer 8.2026 |
Location
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