28 Lydia St

For Sale

28 Lydia St, Binghamton, NY 13905

This Binghamton property for sale is located at 28 Lydia St. The current listed sale price for 28 Lydia St is $165,000. 28 Lydia St is situated on a lot that is 0.13 acre in size.

Contacts

broker
James Lucenti

SVN | Innovative Commercial Advisors

Property Details

  • Property Type Multi-Family
  • Property Size 2,454 SF
  • Units 4
  • Lot Size 0.13 Acre
  • Year Built 1960
  • Date Updated Jun 19, 2025
Located in a designated redevelopment zone, the property benefits from access to significant public and private funding sources. The First Ward was recently awarded $10 million through New York State’s Downtown Revitalization Initiative (DRI), focused on housing improvements, infrastructure, and small business growth along Clinton Street. Broome County has also applied for up to $3 million in Restore NY funds for scattered-site renovations in the First Ward, while local initiatives such as the First Ward Action Council offer up to $5 million in grants for critical home repairs. Additional support is available through the Broome County IDA (offering grants up to $50,000 per business) and NYSERDA’s EmPower NY program for energy efficiency upgrades.Solid cash flow potential with major upgrades already completed, including a new roof, newer furnace, updated plumbing/electrical, and vinyl windows. Remaining work needed includes ~$30K in interior finishes and ~$10K in porch repairs. Pro forma financials show a projected GOI of $48,960 and NOI of $37,000, with an 18% post-renovation cap rate. Priced at $165K with $40K in renovations with 80/100 LTV bridge loan ($172K), a 2.48 DSCR, 48% ROI, and a 4.19 GRM. Tenant utility costs can be fairly allocated via RUBS, and there's potential for added income through coin-op laundry. With strong fundamentals and location, this is a high-yield opportunity in a growing market.
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Highlights

  • Eligible for grants including Restore NY, T-HIP, Broome County IDA, and NYSERDA energy programs.
  • Four-unit property with major upgrades complete—new roof, furnace, water heaters, electric, plumbing, and windows.
  • Located in Binghamton’s First Ward, a focus of $10M in state revitalization and additional local funding.
  • Strong returns with projected NOI of $37,000, 18% cap rate, 48% ROI, DSCR of 2.48, and GRM of 4.19.
  • Utilities can be allocated using RUBS. Laundry hookups in basement offer added income.

Getting around

  • 43/100

    Walk Score ®

  • 75/100

    Bike Score ®

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Location

  • City Binghamton, NY
  • Zip Code 13905

Points of Interest

  • Speedway

    0.60 miles

  • Sunoco

    0.60 miles

  • Gulf

    0.72 miles

  • Mirabito

    1.34 miles

  • Citgo

    1.78 miles

  • Tesla Supercharger

    2.75 miles

  • Lot UDC

    0.87 miles

  • Binghamton General Hospital Parking

    1.42 miles

  • UHS Summit Building Parking

    1.47 miles

  • UHS Parking

    1.57 miles

  • BAGSAI Parking

    1.71 miles

  • Lot HSC2

    1.78 miles

  • Lot HSC1

    1.90 miles

  • Lot J

    2.25 miles

  • DoubleTree

    0.51 miles

  • Holiday Inn Binghamton Downtown

    0.77 miles

  • The Grand Royale Hotel

    0.77 miles

  • Red Roof Inn Binghamton North

    1.25 miles

  • Econo Lodge

    1.33 miles

  • Microtel Inn & Suites by Wyndham Binghamton

    1.54 miles

  • Fairfield Inn Marriott

    1.73 miles

  • Residence Inn

    2.19 miles

  • Comfort Inn

    2.49 miles

  • Motel 6

    2.55 miles

  • A-1 Grocery & Halal Meat

    0.61 miles

  • Boscov's

    0.62 miles

  • Big Lots

    0.80 miles

  • Price Chopper

    0.88 miles

  • Plaza 5

    1.28 miles

  • Weis

    1.50 miles

  • Walmart Supercenter

    1.52 miles

  • Walmart

    1.62 miles

  • NOOR Halal Food & More

    1.83 miles

  • Dollar Depot

    1.99 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
James Lucenti

SVN | Innovative Commercial Advisors

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