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412 & 412 1/2 Adams Avenue 412 Adams Ave 5 Unit Apartment Building $449,000 ($89,800/Unit) 11.45% Cap Rate Endicott, NY 13760
Investment Highlights
- Fully Leased
- Off Street Parking for 10 spaces
- Separate Utilities
- Turn Key
- Two Buildings on One Parcel
- All electric heat
Executive Summary
Howard Hanna Real Estate Services is pleased to present 412 & 412½ Adams Avenue, a fully leased five-unit multifamily offering in the Village of Endicott, NY. The property consists of two buildings on a single parcel: a four-unit apartment building featuring two oversized 3BR/1.5BA lower units and two 2BR/1BA upper units, plus a detached, fully renovated 4BR/2BA single-family residence at the rear with a new kitchen, new flooring, newer gas-fired boiler, and an operational radon mitigation system.
The offering produces $76,800 in scheduled gross income ($6,400/month) against a minimal owner expense load — tenants pay electric, gas, heat, and trash, with the landlord responsible only for water/sewer (approx. $2,100/yr) and insurance (approx. $2,400/yr). Net operating income of $51,423 (inclusive of 10% professional management) delivers an 11.5% capitalization rate and a 5.85 GRM at the asking price. The two upper units rent $100–$250 below the prevailing Endicott 2BR market, providing immediate organic upside at turnover.
Utilities are fully separated: six electric meters and two gas meters. Off-street parking accommodates approximately ten vehicles. All-in 2025/26 property taxes are $8,197 on one tax bill (Tax Map 157.11-5-11).
The property benefits from Endicott's deep rental pool — 60.6% of village households are renters — and its proximity to BAE Systems' Endicott campus, where a $65 million, 150,000 SF expansion completed its first phase in 2026, as well as Binghamton University, one of the region's largest employers, 15 minutes east.
The offering produces $76,800 in scheduled gross income ($6,400/month) against a minimal owner expense load — tenants pay electric, gas, heat, and trash, with the landlord responsible only for water/sewer (approx. $2,100/yr) and insurance (approx. $2,400/yr). Net operating income of $51,423 (inclusive of 10% professional management) delivers an 11.5% capitalization rate and a 5.85 GRM at the asking price. The two upper units rent $100–$250 below the prevailing Endicott 2BR market, providing immediate organic upside at turnover.
Utilities are fully separated: six electric meters and two gas meters. Off-street parking accommodates approximately ten vehicles. All-in 2025/26 property taxes are $8,197 on one tax bill (Tax Map 157.11-5-11).
The property benefits from Endicott's deep rental pool — 60.6% of village households are renters — and its proximity to BAE Systems' Endicott campus, where a $65 million, 150,000 SF expansion completed its first phase in 2026, as well as Binghamton University, one of the region's largest employers, 15 minutes east.
Data Room Click Here to Access
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Storage Space
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Walk-In Closets
- Basement
- Dining Room
- Porch
- Large Bedrooms
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1.5 | 1 | $1,500 | 1,200 |
| 3+1.5 | 1 | $1,500 | 1,200 |
| 2+1 | 1 | $900.00 | 800 |
| 2+1 | 1 | $800.00 | 800 |
| 4+2 | 1 | $1,700 | 1,500 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
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412 & 412 1/2 Adams Avenue | 412 Adams Ave
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