58 Leroy St

58 Leroy Street is centrally located in the heart of Binghamton’s established West Side student-housing market. The property is situated within the R-3 zoning district, making it well suited for student and multifamily housing uses. Its walkable proximity to Downtown Binghamton provides convenient access to employment, dining, entertainment, public transportation, and other community amenities.58 Leroy Street presents a compelling value-add opportunity in the heart of Binghamton’s established West Side student-housing market. The duplex is offered in as-is condition at $212,500, or approximately $42,500 per bed, compared with an estimated market average of approximately $60,000 per bed for stabilized student-housing properties. Following renovation, the property is projected to generate annual rental income of $43,500 and pro forma net operating income of $28,180. At the asking price, this equates to an approximate 13% pro forma capitalization rate, providing an attractive acquisition basis with meaningful potential for income growth and value creation.