Two-Unit Duplex with Separate
For Sale
$398,000
225 Snyder Hill Road, Ithaca, NY 14580
Two distinct living spaces include updated kitchens, separate electric meters, and access to a shared yard and rear deck.
Property Size2,241 SF
Price / SF$177.60
Days on Market101
Property Features for 225 Snyder Hill Road
General Information
Standard status
Active
Size
2,241 SF
Property subtype
Multi Family Home
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Individually Metered Utilities
electricity
Taxes and HOA fees
Annual Taxes
$7,844
Amenities
private rear deck
carport
Ceiling Fan(s)
Building Details
Building Size
2,241 SF
Year Built
1970
Buildings
1
Stories
2
Units
2
Listing Agency:
Warren Real Estate of Ithaca Inc. (Downtown)
(607) 257-0666
Listed By:
Steven Saggese · License #30SA0532613
(607) 280-4350
Source:
Crownjulesrealty
Added: Jul 23
Changed: Oct 27
Last Checked: Oct 29 at 7:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Warren Real Estate of Ithaca Inc. (Downtown)
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Investment Insights
Based on property information with market context.
This 2,241-square-foot duplex, built in 1970, contains two separate apartments: a three-bedroom unit on the main floor and another three-bedroom unit on the lower level. Improvements include a 2026 roof, replacement windows, and updated kitchens. The property also has separate electric meters, municipal utilities, a carport, and additional off-street parking. A rear deck faces the yard and adjoining woods, with distant views.
The property is near Cornell University and has access to the TCAT bus line and East Hill Recreation Way, which leads to campus. Town parks, walking and hiking trails, shopping, and downtown Ithaca are also identified in the property information.
The property is near Cornell University and has access to the TCAT bus line and East Hill Recreation Way, which leads to campus. Town parks, walking and hiking trails, shopping, and downtown Ithaca are also identified in the property information.
Key Highlights
- Two separate apartments, each with three bedrooms
- 2,241 square feet; built in 1970
- Roof replaced in 2026; replacement windows and updated kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,890
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,800
$417.8K
Cap Rate 7%
$298,429
$298.4K
Cap Rate 9%
$232,111
$232.1K
Market Conditions
NOI Build-Up for 2,241 SF
Gross rent
$30.9K $13.80/SF
− Vacancy
−$1.1K −$0.48/SF
EGI
$29.8K $13.32/SF
− OpEx
−$9.0K −$4.00/SF
NOI
$20.9K $9.32/SF
Area
Monroe County, NY
Vacancy
3.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,800
Cap Rate 7%
$298,429
Cap Rate 9%
$232,111
Alternative Uses
Best Use
Multifamily LT 5
$298.4K
$261.1K – $348.2K
NOI $20,890 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$269.6K
$235.9K – $314.5K
NOI $18,869 @ 7.0% cap · market cap 4.74%
Theoretical Best
Specialty Retail
$430.2K
$376.4K – $501.9K
NOI $30,114 @ 7.0% cap · market cap 7.57%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 14580, NY
54,148
Population
24,355
Households
2.2
Avg Household Size
46
Median Age
45%
College-Educated
96%
High-School Grad
42.6 sq mi
ZIP Area
1,271
Density / Sq Mi
$95,499
Median Household Income
$58,150
Median Earnings
$1,387
Median Rent
$253,000
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 - Two distinct living spaces include updated kitchens, separate electric meters, and access to a shared yard and rear deck.
Where is this duplex located?
The property is located at 225 Snyder Hill Road Ithaca, NY.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Two separate apartments, each with three bedrooms; 2,241 square feet; built in 1970; Roof replaced in 2026; replacement windows and updated kitchens
