Large Duplex with Two
616 N Cayuga Street Ithaca, NY 14850
For Sale
$625,000
MULTI_FAMILY - Other - Ithaca, NY
Property Size3,940 SF
Price / SF$158.63
Days on Market39
Property Features for 616 N Cayuga Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 1, Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 4, Basement
- Parking features
- On Street, Driveway
- Patio and Porch features
- Porch
- Interior features
- Attic, CathedralCeilings, ProgrammableThermostat
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 500700-034-000-0008-007-000-0000
- Size
- 3,940 SF
Taxes and HOA fees
- Tax Annual Amount
- 17190
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1890
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Varies, Hardwood, Vinyl
- Building materials
- BlownInInsulation, SprayFoamInsulation, VinylSiding, CopperPlumbing, PexPlumbing
- Roof type
- Asphalt
- Architectural style
- Other
Listing Agency:
Warren Real Estate of Ithaca Inc. (Downtown)
(607) 257-0666
Listed By:
Jill Rosentel · License #10301201202
(607) 280-2491
Added: Jun 15
Changed: Jul 13
Last Checked: Jul 23 at 10:06PM
MLS# R1688656
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 cared for duplex offers flexible living arrangements across two units, with a total of 6 bedrooms and 3.5 bathrooms. Both units feature bathrooms on the main floor, along with a large living room and dining room open to the kitchen. Upstairs, each unit includes three large bedrooms and a full bath, plus access to a large finished attic that can serve as a family room, recreation space, office, or studio. The entire home is fully insulated with energy efficient vinyl replacement windows. A dry basement adds practical storage and functionality, with full insulation, updated mechanicals, washer and dryer, and walk-up access to the outside.
Located in the heart of Fall Creek at 616 N Cayuga Street in Ithaca, NY, the home is described as walkable from everyday destinations. Notably, front doors are located on two different streets, creating the appearance of two separate houses. Each unit has its own front porch, and the property benefits from plenty of on-street parking. Separate utilities for each unit include water.
This configuration can suit an owner-occupant looking to live in one side while collecting passive income from the other, or an investor seeking a multi-unit property with distinct utility setups. The insulated construction, updated mechanicals, and separate entry setup are useful for day-to-day comfort and straightforward unit separation.
Located in the heart of Fall Creek at 616 N Cayuga Street in Ithaca, NY, the home is described as walkable from everyday destinations. Notably, front doors are located on two different streets, creating the appearance of two separate houses. Each unit has its own front porch, and the property benefits from plenty of on-street parking. Separate utilities for each unit include water.
This configuration can suit an owner-occupant looking to live in one side while collecting passive income from the other, or an investor seeking a multi-unit property with distinct utility setups. The insulated construction, updated mechanicals, and separate entry setup are useful for day-to-day comfort and straightforward unit separation.
Key Highlights
- 6‑bedroom duplex with 3.5 baths and separate main‑floor living, dining, and kitchen areas
- Front doors on two different streets for two separate‑entrance setups
- Energy‑efficient vinyl replacement windows and full insulation including blown‑in insulation and spray foam insulation
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 | $78.0k | $19.80 |
| − Vacancy | −$3.5k | −$0.89 |
| EGI | $74.5k | $18.91 |
| − OpEx | −$22.4k | −$5.67 |
| NOI | $52.2k | $13.24 |
3,940 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$745.0K
$651.9K – $869.2K
NOI $52,151 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$690.4K
$604.1K – $805.5K
NOI $48,329 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,062 @ 7.0% cap · market cap 13.77%
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 - A well-maintained duplex with separate utilities, insulated interiors, and in-unit washer/dryer hookups in a flexible layout.
Where is this duplex located?
The property is located at 616 N Cayuga Street Ithaca, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 6‑bedroom duplex with 3.5 baths and separate main‑floor living, dining, and kitchen areas; Front doors on two different streets for two separate‑entrance setups; Energy‑efficient vinyl replacement windows and full insulation including blown‑in insulation and spray foam insulation
