Two-Family Home with
3 Knollwood Drive Freeville, NY 13068
New
3 Knollwood Drive, Freeville, NY, 13068
$315,000
For Sale
$315,000
MULTI_FAMILY - Other - Freeville, NY
Property Size2,232 SF
Lot Size0.69 Acres
Price / SF$141.13
Days on Market3
Property Features for 3 Knollwood Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Basement, Bedroom 2
- Patio and Porch features
- Deck
- Exterior features
- Deck
- Appliances
- ElectricWaterHeater
- Standard status
- Active
- APN
- 502489-046-000-0001-014-042-0000
- Size
- 2,232 SF
- Lot size
- 0.69 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7032
Utilities
- Sewer type
- Septic Tank
- Heating system
- Electric (Heating), Baseboard
- Water source
- Well
Building Details
- Year built
- 1979
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Vinyl, Varies, Tile, Carpet
- Building materials
- VinylSiding
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
Berkshire Hathaway HomeServices Heritage Realty
(607) 428-0708
7 James St. Dana Decker, Homer, NY
Listed by
Kaitlin Berry · License #10491209803
(607) 745-8767
Added: Jul 15 Checked: Jul 17 at 11:06 pm
MLS# S1688924
Listing URL
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 well-maintained two-family home offers a practical live-in or rental setup with two separate units. The upper unit features three bedrooms and 1.5 bathrooms, along with a living room, formal dining room, spacious kitchen, convenient laundry area, and a generous deck overlooking the large backyard. A storage shed is located on site.
The garden level apartment provides a two-bedroom, one-bathroom layout. The property sits on a lot with plenty of off-street parking and a yard, supporting a more private outdoor environment.
Set at 3 Knollwood Drive in Freeville, NY (Tompkins County), the home is positioned for an easy commute to Cortland and Ithaca and is described as being near shopping, dining, and major commuting routes.
The garden level apartment provides a two-bedroom, one-bathroom layout. The property sits on a lot with plenty of off-street parking and a yard, supporting a more private outdoor environment.
Set at 3 Knollwood Drive in Freeville, NY (Tompkins County), the home is positioned for an easy commute to Cortland and Ithaca and is described as being near shopping, dining, and major commuting routes.
Key Highlights
- Two‑family home built in 1979 with upper 3‑bedroom/1.5‑bath unit and garden‑level 2‑bedroom/1‑bath apartment
- Upper unit includes a living room, formal dining room, spacious kitchen, and a convenient laundry area
- Both units have access to outdoor space with a deck and a large backyard; storage shed on site
Local Financial Insights For Apartment 5plus
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 | $52.0k | $23.28 |
| − Vacancy | −$2.2k | −$0.98 |
| EGI | $49.8k | $22.30 |
| − OpEx | −$22.4k | −$10.04 |
| NOI | $27.4k | $12.27 |
2,232 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$422.0K
$369.3K – $492.4K
NOI $29,543 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$391.1K
$342.2K – $456.3K
NOI $27,378 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$696.5K
$609.4K – $812.6K
NOI $48,754 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-family residence on a private lot with off-street parking, a spacious yard, and two separate units.
Where is this duplex located?
The property is located at 3 Knollwood Drive Freeville, NY.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two‑family home built in 1979 with upper 3‑bedroom/1.5‑bath unit and garden‑level 2‑bedroom/1‑bath apartment; Upper unit includes a living room, formal dining room, spacious kitchen, and a convenient laundry area; Both units have access to outdoor space with a deck and a large backyard; storage shed on site
