Renovated Duplex with
New
For Sale
$497,000
30 Main Street, Freeville, NY 13068
Residential, Freeville, NY
Property Size2,000 SF
Lot Size0.35 Acres
Price / SF$248.50
Days on Market5
Property Features for 30 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Basement, Bathroom 4, Bathroom 2, Bathroom 3
Parking features
Garage
Patio and Porch features
Porch
Interior features
CeilingFans, CathedralCeilings, NaturalWoodwork, ProgrammableThermostat
Exterior features
EnclosedPorch, Porch, PrivateYard
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school
Freeville Elementary
Elementary school district
Dryden
Middle school district
Dryden
High school district
Dryden
Subdivision
Freeville-Village-502403
Standard status
Active
APN
502403-004-000-0002-009-000-0000
Size
2,000 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Annual Amount
3974
Utilities
Heating system
Hot Water(Heating), Zoned, Baseboard, Natural Gas, Electric (Heating)
Cooling system
Zoned
Water source
Well
Amenities
covered front porch
private rear yard
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
BlownInInsulation, SprayFoamInsulation, WoodSiding, PexPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Warren Real Estate of Ithaca Inc. (Downtown)
(607) 257-0666
Listed By:
Brent Katzmann · License #10301209565
(607) 280-8353
Added: Sep 23
Last Checked: Sep 27 at 1:06AM
MLS# R1716655
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 2,000-square-foot duplex property combines a renovated primary residence with a separate one-bedroom apartment. The main home includes three upstairs bedrooms, a large kitchen with new appliances, dining and living rooms, two full bathrooms, and a covered front porch. Renovations included windows, insulation, drywall, flooring, mechanical systems, electrical service, kitchen improvements, and roofing on most sections. The property also includes two garages, a private rear yard, and a 0.35-acre lot.
Built in 1910, the property is located at 30 Main Street in Freeville, New York, near the elementary school, Village Pantry bakery and farm store, and the Dryden Rail Trail. TCAT service is located nearby, while Dryden, Cornell, and Ithaca are each described as less than 15 minutes away. The residence is vacant and the adjacent apartment is fully renovated.
Built in 1910, the property is located at 30 Main Street in Freeville, New York, near the elementary school, Village Pantry bakery and farm store, and the Dryden Rail Trail. TCAT service is located nearby, while Dryden, Cornell, and Ithaca are each described as less than 15 minutes away. The residence is vacant and the adjacent apartment is fully renovated.
Key Highlights
- Renovated 2,000‑square‑foot duplex on a 0.35‑acre lot
- Primary residence includes three upstairs bedrooms and two full bathrooms
- Fully renovated adjacent 1 bedroom apartment
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
$26,473
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
5.33%
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%
$529,460
$529.5K
Cap Rate 7%
$378,186
$378.2K
Cap Rate 9%
$294,144
$294.1K
Market Conditions
NOI Build-Up for 2,000 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
$39.6K $19.80/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$37.8K $18.91/SF
− OpEx
−$11.3K −$5.67/SF
NOI
$26.5K $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%
$529,460
Cap Rate 7%
$378,186
Cap Rate 9%
$294,144
Alternative Uses
Best Use
Multifamily LT 5
$378.2K
$330.9K – $441.2K
NOI $26,473 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$350.5K
$306.7K – $408.9K
NOI $24,532 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$624.1K
$546.1K – $728.1K
NOI $43,686 @ 7.0% cap · market cap 8.79%
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
65
Businesses Nearby
Explore this area
Business Placement
Demographics for 13068, NY
5,189
Population
2,165
Households
2.4
Avg Household Size
41
Median Age
40%
College-Educated
97%
High-School Grad
50.6 sq mi
ZIP Area
103
Density / Sq Mi
$79,521
Median Household Income
$45,760
Median Earnings
$1,011
Median Rent
$207,900
Median Home Value
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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 - Updated main residence with an adjacent apartment, private yard, and dedicated garage spaces.
Where is this duplex located?
The property is located at 30 Main Street Freeville, NY.
What is the asking price?
The asking price for this property is $497,000.
What are key features of this property?
This property features: Renovated 2,000‑square‑foot duplex on a 0.35‑acre lot; Primary residence includes three upstairs bedrooms and two full bathrooms; Fully renovated adjacent 1 bedroom apartment
