Duplex with Covered
New
For Sale
$440,000
209 N Meadow Street, Ithaca, NY 14850
Residential, Ithaca, NY
Property Size1,764 SF
Lot Size0.07 Acres
Price / SF$249.43
Days on Market2
Property Features for 209 N Meadow Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential Multi Use
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Basement, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 5
Appliances
ElectricWaterHeater
Subdivision
Meadow St Sec 59
Lot features
Near Public Transit, Rectangular, Rectangular Lot
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Directions
N. Meadow St, just north of the W. Seneca Street intersection.
Standard status
Active
APN
500700-059-000-0006-022-000-0000
Size
1,764 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
12911
Utilities
Heating system
Heat Pump (Heating), Electric (Heating), Baseboard
Cooling system
Heat Pump
Water source
Public
Amenities
hardwood floors
updated kitchens
stainless steel appliances
modern bathrooms
ductless mini-split systems
covered porches
off-street parking
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Varies, Tile, Linoleum, Hardwood
Building materials
VinylSiding
Roof type
Asphalt
Architectural style
Other
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Heritage Realty
(607) 428-0708
Listed By:
Melissa Skodzinsky · License #30SK0987831
(607) 227-2863
Added: Oct 28
Last Checked: Oct 29 at 2:06AM
MLS# S1725127
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 1,764-square-foot duplex contains two apartments: a three-bedroom lower unit and a two-bedroom upper unit. Both have updated kitchens with stainless steel appliances, modern bathrooms, hardwood flooring, and ductless mini-split systems. Vinyl siding and covered porches with decking are among the exterior features. The property was built in 1880 and occupies a 0.07-acre lot, with off-street parking available.
Located in Ithaca, the property is near downtown shopping, dining, and entertainment.
Located in Ithaca, the property is near downtown shopping, dining, and entertainment.
Key Highlights
- Two‑unit layout with a three‑bedroom lower apartment and two‑bedroom upper apartment
- 1,764 square feet on a 0.07‑acre lot
- Both units have updated kitchens, stainless steel appliances, and modern bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,349
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,980
$467.0K
Cap Rate 7%
$333,557
$333.6K
Cap Rate 9%
$259,433
$259.4K
Market Conditions
NOI Build-Up for 1,764 SF
Gross rent
$34.9K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$33.4K $18.91/SF
− OpEx
−$10.0K −$5.67/SF
NOI
$23.3K $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 Rate 5%
$466,980
Cap Rate 7%
$333,557
Cap Rate 9%
$259,433
Alternative Uses
Best Use
Multifamily LT 5
$333.6K
$291.9K – $389.2K
NOI $23,349 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$309.1K
$270.5K – $360.6K
NOI $21,638 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$550.4K
$481.6K – $642.2K
NOI $38,531 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,189
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 - The two apartments offer three-bedroom and two-bedroom layouts, with separate kitchens and bathrooms.
Where is this duplex located?
The property is located at 209 N Meadow Street Ithaca, NY.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two‑unit layout with a three‑bedroom lower apartment and two‑bedroom upper apartment; 1,764 square feet on a 0.07‑acre lot; Both units have updated kitchens, stainless steel appliances, and modern bathrooms
