Two-Unit Residential Income
225 Snyder Hill Road Ithaca, NY 14580
New
For Sale
$398,000
MULTI_FAMILY - Ithaca, NY
Property Size2,241 SF
Price / SF$177.60
Days on Market1
Property Features for 225 Snyder Hill Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Basement, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 6
- Interior features
- CeilingFans
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 57.-1-8.68
- Size
- 2,241 SF
Taxes and HOA fees
- Tax Annual Amount
- 7844
Utilities
- Heating system
- Natural Gas, Baseboard, Hot Water(Heating)
- Water source
- Public
Building Details
- Year built
- 1970
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Vinyl, Varies, Carpet
- Building materials
- AluminumSiding, BlownInInsulation, Frame, CopperPlumbing
- Roof type
- Shingle
Listing Agency:
Warren Real Estate of Ithaca Inc. (Downtown)
(607) 257-0666
Listed By:
Steven Saggese · License #30SA0532613
(607) 280-4350
Added: Jul 23
Last Checked: Jul 23 at 10:06PM
MLS# R1701072
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.
Investment Insights
Based on property information with market context.
This well-maintained two-family duplex offers flexibility for owner-occupants or investors, with a three-bedroom unit on the main level and a separate three-bedroom apartment on the lower level. The property includes replacement windows and updated kitchens, with a brand-new roof noted for 2026. Separate electric meters support independent utility arrangements, and the home features a private rear deck overlooking the backyard.
Located just off the edge of Cornell University in a quiet residential neighborhood, the home provides direct access to the TCAT bus line and proximity to town parks and walking and hiking trails. An East Hill Recreation Way is described as leading directly to the Cornell campus.
Additional amenities include ample off-street parking with a carport and a generously sized yard with space for gardening and outdoor activities.
Located just off the edge of Cornell University in a quiet residential neighborhood, the home provides direct access to the TCAT bus line and proximity to town parks and walking and hiking trails. An East Hill Recreation Way is described as leading directly to the Cornell campus.
Additional amenities include ample off-street parking with a carport and a generously sized yard with space for gardening and outdoor activities.
Key Highlights
- Two‑family home with a 3‑bedroom main‑level unit and a separate 3‑bedroom lower‑level apartment
- Brand‑new shingle roof installed in 2026, plus replacement windows and nicely updated kitchens
- Separate electric meters and municipal utilities
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.4k | $19.80 |
| − Vacancy | −$2.0k | −$0.89 |
| EGI | $42.4k | $18.91 |
| − OpEx | −$12.7k | −$5.67 |
| NOI | $29.7k | $13.24 |
2,241 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$423.8K
$370.8K – $494.4K
NOI $29,663 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$392.7K
$343.6K – $458.2K
NOI $27,489 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$699.3K
$611.9K – $815.8K
NOI $48,950 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with separate utilities, off-street parking, and updated kitchens.
Where is this duplex located?
The property is located at 225 Snyder Hill Road Ithaca, NY.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Two‑family home with a 3‑bedroom main‑level unit and a separate 3‑bedroom lower‑level apartment; Brand‑new shingle roof installed in 2026, plus replacement windows and nicely updated kitchens; Separate electric meters and municipal utilities
