Raised-Ranch Duplex with
For Sale
$449,000
217 Snyder Hill Road, Ithaca, NY 14850
Residential, Ithaca, NY
Property Size2,288 SF
Lot Size0.34 Acres
Price / SF$196.24
Days on Market135
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, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 4, Basement
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
Baseboard, Hot Water(Heating), Natural Gas
Water source
Public
Amenities
in-unit laundry
dishwasher
private deck
patio
Building Details
Year built
1970
Floors in Building
2
Number of units
2
Flooring type
Varies, Vinyl
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: Sep 16
Last Checked: Oct 1 at 9:06PM
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 2,288-square-foot duplex is configured as an updated raised ranch with a finished lower level and two three-bedroom units. The upper residence includes a bright living area, kitchen island with USB outlets, and a private deck facing the backyard. The lower residence provides an open living and dining arrangement with patio access. Both units feature digital smart thermostats, dishwashers, and in-unit laundry. Construction includes brick and composite siding, with natural-gas baseboard and hot-water heating, a shingle asphalt roof, and a carport.
The property occupies 0.34 acres at 217 Snyder Hill Road in Ithaca, NY, positioned between Cornell University and Ithaca College. East Hill Plaza is just over a mile away, while Collegetown and downtown Ithaca are less than 10 minutes from the property. Public water, outdoor deck and patio areas, and a finished basement add to the existing residential configuration.
The property occupies 0.34 acres at 217 Snyder Hill Road in Ithaca, NY, positioned between Cornell University and Ithaca College. East Hill Plaza is just over a mile away, while Collegetown and downtown Ithaca are less than 10 minutes from the property. Public water, outdoor deck and patio areas, and a finished basement add to the existing residential configuration.
Key Highlights
- Duplex with two three‑bedroom units and a finished lower level
- 2,288 square feet on a 0.34‑acre lot
- Upper unit includes kitchen island with USB outlets and a private deck
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
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Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences offer separate outdoor areas, in-unit laundry, and flexible living arrangements.
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: Duplex with two three‑bedroom units and a finished lower level; 2,288 square feet on a 0.34‑acre lot; Upper unit includes kitchen island with USB outlets and a private deck
