62 Palmer RdBinghamtonNY13901
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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 62 Palmer Rd, Binghamton, NY, 13901 listed at $280,000 pairs $3,031/mo rent with a $1,370/mo payment to leave $1,162/mo cash flow. Total monthly income runs $3,031/mo, and annual cash flow reaches $13,940/yr on $92,820 cash to close. Return on cash invested measures 34.93% in year one, and rental yield registers 12.99% at a $280,000 basis. Equity gained on principal adds $1,807/yr, and annual property appreciation at 5% supports $77,359 by year five. Five-year ROI tracks 184.03% and total cumulative return in cash totals $170,817. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,031/mo property income relative to a $1,370/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1960
1.07 Acres 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: Christine Siock • WARREN REAL ESTATE (FRONT STREET)
Mls Name: GBMLS
Mls Provider:
Mls ID: #331227
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.