Investment Property Near Cornell
708 E Seneca Street Ithaca, NY 14850
For Sale
$925,000
MULTI_FAMILY - Other - Ithaca, NY
Property Size3,266 SF
Price / SF$283.22
Days on Market78
Property Features for 708 E Seneca Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 3
- Rooms
- Bedroom 7, Basement, Bedroom 1, Bathroom 2, Bedroom 9, Bedroom 2, Bathroom 3, Bedroom 10, Bedroom 4, Bedroom 5, Bedroom 8, Bedroom 6, Bathroom 1, Bedroom 3
- Parking features
- Driveway
- Patio and Porch features
- Deck
- Interior features
- CeilingFans
- Exterior features
- Balcony, Deck
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 500700-063-000-0009-003-000-0000
- Size
- 3,266 SF
Taxes and HOA fees
- Tax Annual Amount
- 26240
Utilities
- Heating system
- Baseboard, Hot Water(Heating), Natural Gas
- Water source
- Public
Building Details
- Year built
- 1913
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Varies, Hardwood, Tile
- Building materials
- Stucco
- Roof type
- Tile, Slate
- Architectural style
- Other
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Kathleen M Markowski · License #30MA0818780
(607) 342-0778
Added: May 7
Changed: Jul 14
Last Checked: Jul 23 at 6:06PM
MLS# R1679541
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 investment property, located seconds from the Cornell Law School entrance in Collegetown, features an excellent rental history. The property offers a diversified floor plan, with one 4-bedroom unit and two 3-bedroom units. Interior features include bright rooms, hardwood floors, and roomy kitchens. Additional amenities include laundry facilities, a spacious backyard, a triple back-tier deck, and an inviting front porch. The property has been rented as a whole house over the years, but the floor plan offers flexibility for individual units. The property size is 3266 square feet.
Key Highlights
- Built in 1913 with stucco exterior, tile/slate roof, and a hot water (heating) system with baseboard heat and natural gas
- Flexible layout with one 4‑bedroom and two 3‑bedroom configurations
- Rented as a whole house over the years with an established rental history
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 | $64.7k | $19.80 |
| − Vacancy | −$2.9k | −$0.89 |
| EGI | $61.8k | $18.91 |
| − OpEx | −$18.5k | −$5.67 |
| NOI | $43.2k | $13.24 |
3,266 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$617.6K
$540.4K – $720.5K
NOI $43,230 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$572.3K
$500.8K – $667.7K
NOI $40,062 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.02M
$891.7K – $1.19M
NOI $71,339 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Desirable investment property with excellent rental history near Cornell.
Where is this triplex located?
The property is located at 708 E Seneca Street Ithaca, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Built in 1913 with stucco exterior, tile/slate roof, and a hot water (heating) system with baseboard heat and natural gas; Flexible layout with one 4‑bedroom and two 3‑bedroom configurations; Rented as a whole house over the years with an established rental history
