Multifamily Home with Separate
300 Kline Road Ithaca, NY 14850
MULTI_FAMILY - Ithaca, NY
Property size:
4,685 SFLot size:
0.76 AcresPrice / SF:
$160/SF- Added:
- Jun 25, 2026
- Days on Market:
- 16
- Last Refresh:
- Jul 10 at 7:06 am
Property Features for 300 Kline Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 6
- Rooms
- Bedroom 1, Bedroom 2, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 5, Basement, Bedroom 5, Bedroom 7, Bathroom 6, Bedroom 6
- Fireplace
- 1
- Appliances
- ElectricWaterHeater
- Standard status
- Active
- APN
- 503001-015-000-0001-001-001-0000
- Size
- 4,685 SF
- Lot size
- 0.76 Acres
Taxes and HOA fees
- Tax Annual Amount
- 16262
Utilities
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1986
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Varies, Hardwood, Carpet
- Building materials
- Frame
Listing agent Rio Lange License #10401301832 (607) 275-5600
Listing office Keller Williams Realty 126 W State St, Ithaca, NY (607) 275-5600
Listing date Jun 25, 2026
MLS# R1693766
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.
Located at 300 Kline Road in Ithaca, this architecturally distinctive contemporary multifamily home sits on a 0.76-acre hillside setting with mature woods nearby. The main home features hardwood floors, an open living and dining area anchored by a wood-burning fireplace under vaulted ceilings, and a flexible layout. The five-bedroom arrangement includes a spacious first-floor primary suite with an adjoining private office, plus two additional bedrooms upstairs, one with an en suite bath and another with a private balcony. The finished walkout lower level adds two more bedrooms, including one with an en suite bath, along with a large recreation room with direct outdoor access.
A separate lower-level apartment provides an independent entry and patio, offering two bedrooms and a full bath. An attached garage connects to the home via a breezeway, and there is ample storage inside and out. An on-site path runs through the forest toward the neighboring Lake View Cemetery, with lake-view/cemetery views referenced from the property. The listing notes an open house Saturday 6/27 from 12:30 PM to 2:00 PM.
For buyers and operators, the combination of a main residence and a separate apartment supports a range of uses, including guest accommodations, multigenerational living, or rental income. The walkout lower level and multiple outdoor areas, including a screened porch and open-air deck, add practical day-to-day usability for occupants.
A separate lower-level apartment provides an independent entry and patio, offering two bedrooms and a full bath. An attached garage connects to the home via a breezeway, and there is ample storage inside and out. An on-site path runs through the forest toward the neighboring Lake View Cemetery, with lake-view/cemetery views referenced from the property. The listing notes an open house Saturday 6/27 from 12:30 PM to 2:00 PM.
For buyers and operators, the combination of a main residence and a separate apartment supports a range of uses, including guest accommodations, multigenerational living, or rental income. The walkout lower level and multiple outdoor areas, including a screened porch and open-air deck, add practical day-to-day usability for occupants.
Key Highlights
- Year built 1986 frame construction with central air and forced‑air natural gas heat
- Wood‑burning fireplace in the open living/dining area with dramatic vaulted ceilings and skylights
- Main home offers 5 bedrooms, including a spacious first‑floor primary suite with private office
Local Financial Insights For Multifamily LT 5
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 | $92.8k | $19.80 |
| − Vacancy | −$4.2k | −$0.89 |
| EGI | $88.6k | $18.91 |
| − OpEx | −$26.6k | −$5.67 |
| NOI | $62.0k | $13.24 |
4,685 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$885.9K
$775.2K – $1.03M
NOI $62,012 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$821.0K
$718.3K – $957.8K
NOI $57,467 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,335 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Owner-occupied flexibility with a separate two-bedroom lower-level apartment and shared main home living spaces.
Where is this duplex located?
The property is located at 300 Kline Road Ithaca, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Year built 1986 frame construction with central air and forced‑air natural gas heat; Wood‑burning fireplace in the open living/dining area with dramatic vaulted ceilings and skylights; Main home offers 5 bedrooms, including a spacious first‑floor primary suite with private office
