Two-Unit Duplex with Updated
For Sale
$399,000
158 Troy Road, Ithaca, NY 14850
Residential, Ithaca, NY
Property Size2,981 SF
Lot Size0.99 Acres
Price / SF$133.85
Days on Market99
Property Features for 158 Troy Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 6, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 3, Bathroom 4
Appliances
GasWaterHeater
Lot features
Irregular Lot
Elementary school
South Hill
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Subdivision
Ithaca-Town-503089
Standard status
Active
APN
503089-044-000-0001-004-053-0000
Size
2,981 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Annual Amount
9847
Utilities
Heating system
Baseboard, Electric (Heating), Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1988
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Carpet, Varies
Building materials
AtticCrawlHatchwaysInsulated, VinylSiding
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Jill Burlington · License #30BU0950986
(607) 592-0474
Added: Jul 24
Changed: Oct 30
Last Checked: Oct 30 at 9:06PM
MLS# R1698560
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.
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Investment Insights
Based on property information with market context.
This 2,981-square-foot duplex, built in 1988, has a top-and-bottom layout with three bedrooms and one and a half baths in each unit. Living areas are arranged for practical residential use, with vinyl siding, insulated attic crawl hatchways, public water, a gas water heater, and natural gas, hot water, baseboard, and electric heating systems. The property occupies 0.99 acres.
Flooring improvements include new carpet and LVP in the upper unit as of 2026. The lower unit has new LVP in the kitchen and both downstairs bathrooms. The property is near downtown Ithaca, Cornell University, Ithaca College, shopping, dining, parks, and public transportation. The configuration supports either investor ownership or an owner-occupant arrangement with one unit available for rent.
Flooring improvements include new carpet and LVP in the upper unit as of 2026. The lower unit has new LVP in the kitchen and both downstairs bathrooms. The property is near downtown Ithaca, Cornell University, Ithaca College, shopping, dining, parks, and public transportation. The configuration supports either investor ownership or an owner-occupant arrangement with one unit available for rent.
Key Highlights
- Duplex with top‑and‑bottom units, each offering 3 bedrooms and 1.5 baths
- 2,981 square feet on 0.99 acres
- Built in 1988 with vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,566
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,320
$731.3K
Cap Rate 7%
$522,371
$522.4K
Cap Rate 9%
$406,289
$406.3K
Market Conditions
NOI Build-Up for 2,981 SF
Gross rent
$69.4K $23.28/SF
− Vacancy
−$2.9K −$0.98/SF
EGI
$66.5K $22.30/SF
− OpEx
−$29.9K −$10.04/SF
NOI
$36.6K $12.27/SF
Area
Tompkins County, NY
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,320
Cap Rate 7%
$522,371
Cap Rate 9%
$406,289
Alternative Uses
Best Use
Multifamily LT 5
$563.7K
$493.2K – $657.6K
NOI $39,457 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$522.4K
$457.1K – $609.4K
NOI $36,566 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$930.2K
$813.9K – $1.09M
NOI $65,114 @ 7.0% cap · market cap 16.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Top-and-bottom configuration offers separate living spaces with natural-gas heating and public water service.
Where is this duplex located?
The property is located at 158 Troy Road Ithaca, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Duplex with top‑and‑bottom units, each offering 3 bedrooms and 1.5 baths; 2,981 square feet on 0.99 acres; Built in 1988 with vinyl siding
