Downtown Duplex with Private
136 Fayette St Ithaca, NY 14850
For Sale
$389,000
Turn-key up/down duplex features updated kitchens and baths, two porches, off-street parking, and a fenced yard with patio.
Property Size1,716 SF
Price / SF$226.69
Days on Market1973
Property Features for 136 Fayette St
General Information
- Standard status
- Active
- Size
- 1,716 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1900
Listing Agency:
(607) 273-3400
Listed By:
Carol Bushberg Real Estate
Source:
Xome
Added: Feb 26, 2021
Changed: Jul 23
Last Checked: Jul 23 at 4:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Carol Bushberg Real Estate
Investment Insights
Based on property information with market context.
This turn-key up/down duplex is being offered as an owner-occupied or investment property. Each unit offers three bedrooms and one bath, with updated kitchens and baths. The home also includes newer roofing and exterior paint, along with front and back porches for both units. Off-street parking is provided, and the property includes access to a fenced-in yard with a patio.
The property is located in the heart of Downtown Ithaca, with walk-to access to schools, grocery stores, coffee shops, and the commons.
The current use is as a profitable short-term rental (Airbnb). The layout has also been described as capable of being converted back into a single-family home.
The property is located in the heart of Downtown Ithaca, with walk-to access to schools, grocery stores, coffee shops, and the commons.
The current use is as a profitable short-term rental (Airbnb). The layout has also been described as capable of being converted back into a single-family home.
Key Highlights
- Up/down duplex built in 1900 with 3 bedrooms and 1 bath on each floor
- Updated kitchens and baths in both units
- Newer roof and exterior paint
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 | $34.0k | $19.80 |
| − Vacancy | −$1.5k | −$0.89 |
| EGI | $32.4k | $18.91 |
| − OpEx | −$9.7k | −$5.67 |
| NOI | $22.7k | $13.24 |
1,716 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$324.5K
$283.9K – $378.6K
NOI $22,713 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$300.7K
$263.1K – $350.8K
NOI $21,049 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$535.5K
$468.5K – $624.7K
NOI $37,483 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Turn-key up/down duplex features updated kitchens and baths, two porches, off-street parking, and a fenced yard with patio.
Where is this duplex located?
The property is located at 136 Fayette St Ithaca, NY.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Up/down duplex built in 1900 with 3 bedrooms and 1 bath on each floor; Updated kitchens and baths in both units; Newer roof and exterior paint
