308 Riverside DrBinghamtonNY13905
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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
Investment property for sale in Binghamton at 308 Riverside Dr, Binghamton, NY, 13905 uses $104,091 cash to close to unlock $1,788/yr annual cash flow and $149/mo monthly cash flow. Total monthly income runs $2,246/mo, and a $1,537/mo payment keeps the spread at $149/mo. Purchase price stands at $314,000, and rental yield measures 8.58% with $2,246/mo rent. Return on cash invested shows 21.63% in year one, and 5% annual appreciation builds toward $86,752 over five years. Five-year ROI reaches 112.74% and total cumulative return in cash records $117,351. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,246/mo property income covering a $1,537/mo payment rather than investor’s personal income.
Single Family
Built in 1940
6,864 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 13905, Binghamton, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,068 (100%) |
| Owner Occupied HU | 5,281 (37.5%) |
| Renter Occupied HU | 6,678 (47.5%) |
| Vacant Housing Units | 2,109 (15.0%) |
| Median Home Value | $162,713 |
| Average Home Value | $219,383 |
Housing Distribution
Address Breakdown
Residential
11,769
Single Family
10,232
Multi-Family
1,537
Businesses
625
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Listed by: Debbie L Ryer • NORA M. E. DAVIS REAL ESTATE
Mls Name: GBMLS
Mls ID: #331966