Three-Bedroom
New
For Sale
$360,000
112-114 Sunrise Road, Ithaca, NY 14850
MULTI_FAMILY - Other - Ithaca, NY
Property Size2,438 SF
Price / SF$147.66
Days on Market3
Property Features for 112-114 Sunrise Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential 2 Unit
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Basement, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 6, Bedroom 2, Bathroom 3, Bedroom 5, Bathroom 1
Interior features
CeilingFans, NaturalWoodwork
Appliances
GasWaterHeater
Lot features
Irregular Lot
Elementary school
Beverly J Martin Elementary
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Directions
Hector St- left on Sunrise Rd. House on right side.
Subdivision
Ithaca-City-500700
Standard status
Active
APN
500700-053-000-0002-007-000-0000
Size
2,438 SF
Taxes and HOA fees
Tax Annual Amount
13161
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
covered front porch
storage shed
off-street parking
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Vinyl
Building materials
Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Laura Fiore · License #10301208660
(607) 351-6155
Added: Aug 19
Last Checked: Aug 21 at 9:06PM
MLS# R1708090
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 2,438-square-foot duplex, built in 1900, contains two residential units with three bedrooms in each. The property has frame construction, hardwood and vinyl flooring, natural woodwork, ceiling fans, forced-air heating, and a gas water heater. Each unit also includes a covered front porch, a small storage shed, and separate off-street parking.
The property is located across from public transportation in Ithaca. Public water service, an asphalt roof, and basement space are also included. The two-unit configuration provides six bedrooms in total and supports both owner-occupancy and rental use as described in the property information.
The property is located across from public transportation in Ithaca. Public water service, an asphalt roof, and basement space are also included. The two-unit configuration provides six bedrooms in total and supports both owner-occupancy and rental use as described in the property information.
Key Highlights
- 2,438‑square‑foot duplex built in 1900
- Two units with three bedrooms each
- Covered front porches and small storage shed for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,270
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$645,400
$645.4K
Cap Rate 7%
$461,000
$461.0K
Cap Rate 9%
$358,556
$358.6K
Market Conditions
NOI Build-Up for 2,438 SF
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.
Gross rent
$48.3K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$46.1K $18.91/SF
− OpEx
−$13.8K −$5.67/SF
NOI
$32.3K $13.24/SF
Area
Tompkins County, NY
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$645,400
Cap Rate 7%
$461,000
Cap Rate 9%
$358,556
Alternative Uses
Best Use
Multifamily LT 5
$461.0K
$403.4K – $537.8K
NOI $32,270 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$427.2K
$373.8K – $498.4K
NOI $29,905 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$760.8K
$665.7K – $887.6K
NOI $53,253 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
Demographics for 14850, NY
69,271
Population
31,772
Households
2.2
Avg Household Size
29
Median Age
72%
College-Educated
96%
High-School Grad
124.8 sq mi
ZIP Area
555
Density / Sq Mi
$69,689
Median Household Income
$36,115
Median Earnings
$1,446
Median Rent
$334,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate parking, covered porches, storage sheds, and access to public transportation.
Where is this duplex located?
The property is located at 112-114 Sunrise Road Ithaca, NY.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,438‑square‑foot duplex built in 1900; Two units with three bedrooms each; Covered front porches and small storage shed for each unit
