Renovated Duplex in Ithaca's South
702 Hudson Street Ithaca, NY 14850
For Sale
$535,000
Pending
MULTI_FAMILY - Other - Ithaca, NY
Property Size3,590 SF
Lot Size0.19 Acres
Days on Market409
Property Features for 702 Hudson Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 5
- Rooms
- Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 7, Bathroom 4, Bedroom 5, Bathroom 3, Bathroom 5, Bedroom 9, Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 8
- Exterior features
- Balcony, Fence
- Fencing
- Fenced
- Appliances
- GasWaterHeater
- Standard status
- Pending
- APN
- 500700-113-000-0006-006-000-0000
- Size
- 3,590 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Annual Amount
- 17004
Utilities
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1968
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Varies, Vinyl
- Roof type
- Membrane, Rubber
- Architectural style
- Other
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Garrett Venuto · License #10401360100
(607) 592-1762
Added: Jun 11, 2025
Changed: Jul 14
Last Checked: Jul 23 at 11:06PM
MLS# R1613968
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 fully renovated duplex is located in the South Hill area of Ithaca. Renovated in 2014, both units feature modern finishes and spacious layouts. The downstairs unit includes 3 large bedrooms and 2 full bathrooms, while the upstairs unit offers 6 generously sized bedrooms and 2 full baths. The property is suitable for an owner-occupant looking to live in one unit while generating rental income from the other, or for investors seeking a strong addition to their student housing portfolio. Each unit is fully furnished and includes stainless steel appliances, granite countertops, custom tiled bathrooms, in-unit washer and dryer, and oversized bedrooms with ample closet space. Situated on a 0.1859-acre lot, the 3,590 square foot property is located in an area that includes both student housing and primary residences. It's located near the back entrance to Ithaca College and a short walk to the South Hill Recreation Trail. A nearby bus stop provides convenient access to downtown Ithaca, Cornell University, and local amenities.
Key Highlights
- Fully renovated duplex in the South Hill area of Ithaca; renovation completed in 2014
- Downstairs unit includes 3 bedrooms and 2 full bathrooms
- Upstairs unit includes 6 bedrooms and 2 full bathrooms
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 | $71.1k | $19.80 |
| − Vacancy | −$3.2k | −$0.89 |
| EGI | $67.9k | $18.91 |
| − OpEx | −$20.4k | −$5.67 |
| NOI | $47.5k | $13.24 |
3,590 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$678.8K
$594.0K – $792.0K
NOI $47,518 @ 7.0% cap · market cap 8.88%
Second Best
Apartment 5plus
$629.1K
$550.5K – $733.9K
NOI $44,036 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$1.12M
$980.2K – $1.31M
NOI $78,417 @ 7.0% cap · market cap 14.66%
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 - Fully renovated duplex near Ithaca College with strong rental potential.
Where is this duplex located?
The property is located at 702 Hudson Street Ithaca, NY.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Fully renovated duplex in the South Hill area of Ithaca; renovation completed in 2014; Downstairs unit includes 3 bedrooms and 2 full bathrooms; Upstairs unit includes 6 bedrooms and 2 full bathrooms
