263 Washington StBinghamtonNY13901
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Binghamton at 263 Washington St, Binghamton, NY, 13901 priced at $499,000 converts $1,175/mo rent into after a $2,442/mo obligation. Total monthly income equals $1,175/mo. Return on cash invested prints 4.26% in year one, and rental yield reads 2.83% against a $499,000 entry. Equity gained on principal adds $3,220/yr, while 5% annual appreciation compiles into $137,865 by year five. Five-year ROI reaches 19.6% and total cumulative return in cash sums $32,418. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,175/mo property income covering a $2,442/mo payment, not borrower’s personal income.
Multi Family
Built in 1900
6,756 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 13901, Binghamton, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,383 (100%) |
| Owner Occupied HU | 4,828 (46.5%) |
| Renter Occupied HU | 4,331 (41.7%) |
| Vacant Housing Units | 1,224 (11.8%) |
| Median Home Value | $174,444 |
| Average Home Value | $225,098 |
Housing Distribution
Address Breakdown
Residential
8,687
Single Family
7,511
Multi-Family
1,176
Businesses
747
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Listed by: Scott Warren • INNOVATIVE COMMERCIAL ADVISORS
Mls Name: GBMLS
Mls Provider:
Mls ID: #329959
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.