101077 . 5 HOME SFR BINGHAMTON, NY

06-16-2022
06-16-2022

101077 . 5 HOME SFR BINGHAMTON, NY, Binghamton, NY 13901

All homes are single-family detached
A mix of 4 three-bedroom and 1 fourbedroom homes 
Average year remodel is 2016 
The portfolio is currently self-managed 
The average home size is 1184 square feet with an average vintage of 1954 
Asking price per home is $115,100, well below the median sale price of $149k
100% leased to fully vetted tenants 
Minimal deferred maintenance
Significant CapEx deployed throughout the portfolio 
Year 1 stabilized Cap Rate of 9.08% 
Year 1 stabilized Gross Yield of 16.37%
All SVN® Offices Independently Owned & Operated
Local Broker License Information: www.SFRhub.com/realstatelicensing

Property Description

Contact:
TOM JOHNSTON
Director of Brokerage Services
SVN | SFRhub Advisors
T: 602.825.1780
C: 602.403.3695
tom.johnston@svn.com
License #: BR507919000

BOR:
SVN | Realty Performance Advisors
Robert Marvin
License #: 10311206383

Visit www.SFRhub.com and search for portfolio 101077 for more information. 

SVN | SFRhub Advisors is pleased to present to qualified investors this 5-home SFR portfolio scattered about Binghamton, NY. The asset mix includes four (4) three bedroom, and one (1) fourbedroom homes. All the homes were built between 1915 - 2000, with an average vintage of 1954. Dwelling size range from 1000 - 1344 square feet, and the average lot size is 6456 square feet. The average asking price per home is $115,100, well below the Binghamton median home sale price of $149k. The seller purchased the homes one at a time over the past couple of decades. Upon acquisition, the seller deployed the necessary capital to improve the homes. Improvements include kitchen and bath remodels, new roofs and repairs, new water heaters, new HVAC units where needed, as well as cosmetic alterations during tenant turns. The homes are 100% occupied with fully vetted tenants. Many of the tenants have been in place for more than two years. Another valueadd proposition is the opportunity to raise rents. By raising rents and improving operations, the projected cap rate of 7.16% and 9.71% gross yield are achievable. During the latest twelve months, Binghamton’s appreciation rate, at 19.19%, has been at or slightly above the national average. Another reason to invest in Binghamton is its fantastic education system. Not only does the Binghamton City School District receive high ratings for its public elementary, middle, and high schools, but Binghamton also offers excellent higher education opportunities for those who are interested in higher learning. In fact, Binghamton University is ranked as the top public university in the entire state of New York. Binghamton always has something exciting to see. Whether you want to spend the day at one of the city’s 23 parks, decide to take a hike on one of the nature trails just outside of the city, or go on a weekend trip to the Finger Lakes, exploring the great outdoors is part of everyday life when living in Binghamton. Plus, only a five-hour drive from Toronto, Canada, the opportunities are endless.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Single Family Rental Portfolio
Price
$ 575,500
No. of Units
5
Cap Rate
9.08%
Average Occupancy
100%
Year Built
1939
Building Size
5,856.98 Sq ft
Lot Size
40194 sq ft
Opportunity Zone
No
Buy Side Fee
49.99%
Price per unit
$ 115,100
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