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    The Largest CRE Database in the US with Over 1 Million Listings

    202 Linden Ave Ithaca, NY 14850

    Sponsored
    For Sale
    $5,400,000

    MULTI_FAMILY - Ithaca, NY

    Property size:
    7,542 SF
    Lot size:
    0.12 Acres
    Days on Market:
    33
    Last Refresh:
    Jan 23 at 8:06 am

    Property Features for 202 Linden Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Security features
    Security
    Rooms
    Bedroom 6, Bedroom 10, Bedroom 4, Bedroom 1, Bedroom 5, Bedroom 7, Bedroom 9, Bedroom 2, Bedroom 11, Bedroom 3, Bedroom 8
    Bedrooms
    11
    APN
    500700-067-000-0001-008-000-0000
    Parking features
    Driveway
    Appliances
    Dryer, Dishwasher, ElectricCooktop, ExhaustFan, ElectricWaterHeater, Refrigerator, RangeHood, Washer
    Size
    7,542 SF
    Lot size
    0.12 Acres

    Utilities

    Heating system
    Ductless (Heating), Electric (Heating)
    Cooling system
    Ductless
    Water source
    Public

    Building Details

    Year built
    2023
    Floors in Building
    3
    Number of units
    10
    Flooring type
    Vinyl
    Building materials
    AluminumSiding
    Roof type
    Rubber, Membrane

    We can help!

    Listing Contact
    Tammarion Warren

    Warren Real Estate (607) 257-0666 [email protected]

    Listing agent Tammarion Warren (607) 257-0666 License #10301210708

    Listing date Dec 22, 2025

    MLS# R1605476 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Student Housing Near Cornell University

    Located in the heart of Cornell University's Collegetown, 202 Linden Ave presents an investment opportunity. This fully leased student housing asset offers income and long-term investment value. The modern, low-maintenance building features 10 units and 26 beds, configured to maximize appeal and occupancy. The units are fully furnished and include in-unit washer/dryers. The unit mix includes three 1-bedroom apartments, one 2-bedroom, three 3-bedrooms, and three 4-bedroom units, catering to a range of student housing needs. Designed for efficiency and tenant comfort, the property benefits from new construction, professional management, and rental demand. Situated near Cornell University, public transit, restaurants, and shops, this property is positioned in a desirable and high-traffic location. The property has a lot size of 0.118 acres and a building size of 7,542 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Gem Apartment Building

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Tompkins
    State
    New York
    Longitude
    -76.484346
    Latitude
    42.43945

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    FAQs

    What type of property is this?
    Apartment building - Fully leased student housing property near Cornell University.
    Where is this apartment building located?
    The property is located at 202 Linden Ave Ithaca, NY.
    What is the asking price?
    The asking price for this property is $5,400,000.
    What are key features of this property?
    This property features: - Prime Collegetown location steps from Cornell University, restaurants, and shops.; - High-income, fully leased student housing asset with strong rental demand.; - Modern, low-maintenance new construction (2023) with 10 units and 26 beds.
    (607) 227-0198
    Request Owner's contact information
    202 Linden Ave Ithaca, NY 14850
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    Ithaca, NY 14850
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    202 Linden Ave Ithaca, NY 14850
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    We can help!
    Listing Contact
    Tammarion Warren
    Real Estate License ID: 10301210708
    (607) 227-0198
    Learn more
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