120 Murray St

Investment Overview

Investment opportunity at 120 Murray Street in Binghamton’s West Side. This two-unit property offers nine rentable bedrooms and four full bathrooms, with two bathrooms in each unit. The property is currently leased by the bed at $550 per month, generating scheduled gross rent of $4,950 per month, or $59,400 annually. With comparable rents in the surrounding market averaging more than $700 per bed, the property offers meaningful potential for future rental growth, subject to existing leases and market conditions. Located just off Main Street within walking distance of Downtown Binghamton, the property is situated in the R3 Residential Multi-Unit Dwelling District, which provides a favorable framework for multifamily, student-housing, and congregate-living uses, subject to applicable municipal approvals and occupancy requirements. An attractive opportunity for an investor seeking established income with additional upside potential.

Investment Highlights

• Nine rentable bedrooms
• Four full bathrooms—two in each unit
• Currently leased at $550 per month per bed
• Scheduled gross rent of $4,950 per month
• Scheduled annual gross rent of $59,400
• Area rents reportedly average more than $700 per bed
• Significant potential for future rental growth, subject to leases and market conditions
• Located just off Main Street
• Within walking distance of Downtown Binghamton
• R3 Residential Multi-Unit Dwelling zoning
• Favorable setting for multifamily, student-housing, and congregate-living uses, subject to municipal approvals
• Established income with value-add potential