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

    4555 Elwood Rd Cincinnatus, NY 13040

    Sponsored
    For Sale
    $459,900

    MULTI_FAMILY - Cincinnatus, NY

    Property size:
    2,872 SF
    Lot size:
    63.00 Acres
    Days on Market:
    109
    Last Refresh:
    Jan 29 at 5:06 pm

    Property Features for 4555 Elwood Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 2, Basement, Bathroom 4, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2
    Bedrooms
    4
    Bathrooms
    4
    APN
    114200-082-000-0001-011-200-0000
    Appliances
    ElectricWaterHeater
    Size
    2,872 SF
    Lot size
    63.00 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Propane (Heating), Forced Air
    Cooling system
    Wall Unit(s), Central Air
    Water source
    Well

    Building Details

    Year built
    1800
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Tile, Hardwood, Varies
    Building materials
    SprayFoamInsulation, VinylSiding, WoodSiding

    We can help!

    Listing Contact
    Jenna Davi

    Heritage Realty of Central New York (607) 428-0708

    Listing agent Jenna Davi (607) 428-0708 License #10301218592

    Listing date Oct 13, 2025

    MLS# S1642638 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

    Historic Barn Conversion on 63 Acres

    This architect-designed barn conversion, originally built in 1900, blends historical charm with modern amenities. The property features hand-hewn beams and solid locally sourced pine floors. The open-concept kitchen, dining, and living area includes cathedral ceilings and sliding glass doors that open to a back deck overlooking the acreage. The kitchen is equipped with granite countertops, blonde maple shaker cabinets, and stainless steel appliances. The main house includes three bedrooms and three full bathrooms, featuring a first-floor primary suite with a jetted soaking tub and glass shower. There is also a flexible bedroom or office with deck access, and an upstairs bedroom with a walk-in closet and full bath with a tiled shower. Central air conditioning provides year-round comfort. A separate 20x24-foot guest house/ADU contains one bedroom, one full bath, and an open living/kitchen area, suitable for visitors, extended family, or rental opportunities. The lower level of the home, once used for housing cattle, offers potential for storage, a workshop, or hobbyist space. The property is set on 63 acres of rolling fields, woodlands, and 8 acres of tillable land. Wells Creek winds through the landscape with 1,914 feet of frontage. Two small ponds are located on the property, and trails provide access for hiking and hunting.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Matis Joseph S Engineer

    Map

    City
    Cincinnatus
    County
    Cortland
    State
    New York
    Longitude
    -75.906449
    Latitude
    42.623298

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    FAQs

    What type of property is this?
    Single family property - Architect-designed home with guest house, acreage, and natural beauty.
    Where is this single family property located?
    The property is located at 4555 Elwood Rd Cincinnatus, NY.
    What is the asking price?
    The asking price for this property is $459,900.
    What are key features of this property?
    This property features: - Expansive 63-acre property with rolling fields and woodlands, offering privacy.; - Historic architect-designed barn conversion with original features like hand-hewn beams and locally sourced pine floors.; - Separate 20x24-foot guest house/ADU with one bedroom, one bath, and open living/kitchen area.
    (607) 591-5101
    Request Owner's contact information
    4555 Elwood Rd Cincinnatus, NY 13040
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    Cincinnatus, NY 13040
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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
    4555 Elwood Rd Cincinnatus, NY 13040
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    We can help!
    Listing Contact
    Jenna Davi
    Real Estate License ID: 10301218592
    (607) 591-5101
    Learn more
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