5 Riverside Drive #306BinghamtonNY13905
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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 5 Riverside Drive #306, Binghamton, NY, 13905 offers a 10.6% rental yield on a $120,000 purchase with $1,060/mo rent. Total monthly income registers $1,060/mo, and a $587/mo payment leaves $259/mo available for distribution. Annual cash flow reaches $3,108/yr on $39,780 to close, and return on cash invested stands at 27.72% in year one. Equity gained on principal adds $774/yr while 5% annual appreciation supports $33,154 over five years. Portfolio math shows five-year ROI at 145.33% and total cumulative return in cash at $57,811. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,060/mo property income against a $587/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1968
N/A 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: Nicole L Miller • Miranda Real Estate Group, Inc
Mls Name: Global MLS
Mls ID: #202528646