Duplex with Private
For Sale
$449,000
217 Snyder Hill Road, Ithaca, NY 14850
MULTI_FAMILY - Other - Ithaca, NY
Property Size2,288 SF
Lot Size0.34 Acres
Price / SF$196.24
Days on Market85
Property Features for 217 Snyder Hill Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential 2 Unit
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 2, Bathroom 1, Basement, Bedroom 1, Bedroom 4, Bedroom 5
Parking features
Carport
Patio and Porch features
Deck, Patio
Interior features
CeilingFans
Exterior features
Deck, Patio
Appliances
GasWaterHeater
Lot features
Irregular Lot, Near Public Transit
Elementary school
Caroline Elementary
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Directions
From East Hill Plaza, turn left onto Pine Tree Road towards Route 79/Slaterville Rd. In 0.5 miles, turn left onto Snyder Hill Rd. In 0.8 miles, house will be on the right.
Subdivision
Ithaca-Town-503089
Standard status
Active
APN
503089-057-000-0001-008-065-0000
Size
2,288 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
10656
Utilities
Heating system
Hot Water(Heating), Natural Gas, Baseboard
Water source
Public
Amenities
butcher block kitchen island with USB outlet ports
private deck
patio
digital smart thermostats
in-unit laundry
dishwashers
Building Details
Year built
1970
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Varies
Building materials
Brick, CompositeSiding
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Cierra Cain · License #10401318973
(607) 229-8789
Added: May 20
Changed: Aug 4
Last Checked: Aug 12 at 2:06PM
MLS# R1683258
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 turn-key raised ranch duplex features two spacious three-bedroom units with a finished lower level. The upper unit includes a bright living area, a butcher block kitchen island with USB outlet ports, and access to a private deck overlooking the back yard. The lower unit offers an open-concept living and dining area with direct access to a patio. Both units have in-unit laundry, dishwashers, and digital smart thermostats, supporting flexible living or rental configurations. Interior details include ceiling fans, and utilities include a gas water heater. The property includes a carport and is built with brick and composite siding, with asphalt shingle roofing.
Set on a 0.34-acre lot, the home is nestled between Cornell University and Ithaca College within a well-known rental corridor. It is just over a mile from East Hill Plaza and less than 10 minutes from Collegetown and downtown Ithaca, providing convenient access to shopping, dining, and local recreation.
Parking, outdoor space, and two separate unit layouts make this duplex suitable for buyers looking for both day-to-day livability and long-term versatility.
Set on a 0.34-acre lot, the home is nestled between Cornell University and Ithaca College within a well-known rental corridor. It is just over a mile from East Hill Plaza and less than 10 minutes from Collegetown and downtown Ithaca, providing convenient access to shopping, dining, and local recreation.
Parking, outdoor space, and two separate unit layouts make this duplex suitable for buyers looking for both day-to-day livability and long-term versatility.
Key Highlights
- Two three‑bedroom units with a finished lower level in a raised ranch duplex
- Upper unit with butcher block kitchen island with USB outlet ports and a private deck
- Lower unit with open‑concept living and dining plus direct patio access
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
$30,285
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
6.74%
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%
$605,700
$605.7K
Cap Rate 7%
$432,643
$432.6K
Cap Rate 9%
$336,500
$336.5K
Market Conditions
NOI Build-Up for 2,288 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
$45.3K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$43.3K $18.91/SF
− OpEx
−$13.0K −$5.67/SF
NOI
$30.3K $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%
$605,700
Cap Rate 7%
$432,643
Cap Rate 9%
$336,500
Alternative Uses
Best Use
Multifamily LT 5
$432.6K
$378.6K – $504.8K
NOI $30,285 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$400.9K
$350.8K – $467.8K
NOI $28,065 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$714.0K
$624.7K – $833.0K
NOI $49,977 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
43
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 - Raised ranch duplex with two three-bedroom units, smart thermostats, and in-unit laundry, plus deck and patio for outdoor living.
Where is this duplex located?
The property is located at 217 Snyder Hill 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: Two three‑bedroom units with a finished lower level in a raised ranch duplex; Upper unit with butcher block kitchen island with USB outlet ports and a private deck; Lower unit with open‑concept living and dining plus direct patio access
