Top and Bottom
For Sale
$449,000
158 Troy Road, Ithaca, NY 14850
MULTI_FAMILY - Ithaca, NY
Property Size2,981 SF
Lot Size0.99 Acres
Price / SF$150.62
Days on Market8
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 3, Bedroom 4, Bedroom 6, Bathroom 3, Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 1
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, Natural Gas, Hot Water(Heating), Electric (Heating)
Water source
Public
Building Details
Year built
1988
Floors in Building
1
Number of units
2
Flooring type
Varies, Carpet, Vinyl
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: Jul 27
Last Checked: Jul 31 at 12:06AM
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.
Investment Insights
Based on property information with market context.
This top and bottom duplex offers two separate units with three bedrooms and one and a half baths each. Both units include comfortable living areas and a functional layout designed for day-to-day use. As of 2026, the upper unit has new carpet and LVP throughout. The downstairs unit includes new LVP in the kitchen, along with new LVP in both bathrooms.
Located on Troy Road in Ithaca, NY, the property is described as convenient to downtown Ithaca, Cornell University, Ithaca College, shopping and dining, parks, and public transportation.
With a total size of 2,981 square feet on a 0.99-acre lot, this residence-income property is well-suited to investors seeking rental income or an owner occupant who plans to rent one unit while living in the other.
Located on Troy Road in Ithaca, NY, the property is described as convenient to downtown Ithaca, Cornell University, Ithaca College, shopping and dining, parks, and public transportation.
With a total size of 2,981 square feet on a 0.99-acre lot, this residence-income property is well-suited to investors seeking rental income or an owner occupant who plans to rent one unit while living in the other.
Key Highlights
- Spacious top‑and‑bottom duplex in Ithaca’s South Hill neighborhood
- Each unit offers 3 bedrooms and 1.5 baths with a functional layout
- Year built: 1988
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 | $59.0k | $19.80 |
| − Vacancy | −$2.7k | −$0.89 |
| EGI | $56.4k | $18.91 |
| − OpEx | −$16.9k | −$5.67 |
| NOI | $39.5k | $13.24 |
2,981 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$563.7K
$493.2K – $657.6K
NOI $39,457 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$522.4K
$457.1K – $609.4K
NOI $36,566 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$930.2K
$813.9K – $1.09M
NOI $65,114 @ 7.0% cap · market cap 14.50%
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
23
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 - Spacious top and bottom duplex with two three-bedroom units and updated flooring in select areas.
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 $449,000.
What are key features of this property?
This property features: Spacious top‑and‑bottom duplex in Ithaca’s South Hill neighborhood; Each unit offers 3 bedrooms and 1.5 baths with a functional layout; Year built: 1988
