Ithaca Two-Unit Tudor
308 Coddington Road, Ithaca, NY 14850
MULTI_FAMILY - Other - Ithaca, NY
Property size:
1,538 SFLot size:
0.34 AcresPrice / SF:
$206/SF- Added:
- Mar 23, 2026
- Days on Market:
- 54
- Last Refresh:
- May 15 at 5:06 pm
Property Features for 308 Coddington Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Basement
- Patio and Porch features
- Deck
- Exterior features
- Balcony, Deck
- Appliances
- GasWaterHeater
- Standard status
- Active Under Contract
- APN
- 503089-042-000-0001-001-001-0000
- Size
- 1,538 SF
- Lot size
- 0.34 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6031
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Vinyl, Varies, Hardwood
- Building materials
- SprayFoamInsulation, Stucco
- Architectural style
- Other
Listing agent Laurel Guy License #10371201385 (607) 227-1556
Listing office Warren Real Estate of Ithaca Inc. (Downtown) 140 Seneca Way Suite 200, Ithaca, NY (607) 257-0666
Listing date Mar 23, 2026
MLS# R1668515
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.
HighLights
- Flexible two‑unit floor plan (2 BR, 1 Bath + 1 BR, 1 Bath) suitable for single‑family or two‑family living, ideal for owner‑occupancy or investment.
- Prime location near Ithaca College and downtown Ithaca.
- 2021 Roof with 30‑Year Architectural Shingles.
- Abundant natural light and distant views of Cornell and East Hill.
- Multiple outdoor spaces including an Enclosed Sun Porch, Deck, Patio and 2nd Floor Balconies.
- Energy‑efficient upgrades: Replacement Windows and Spray Foam Insulation.
Overview
This 1920s stucco Tudor offers a flexible two-unit floor plan, suitable for either single-family or two-family use. The property features a two-bedroom, one-bath unit and a one-bedroom, one-bath unit, each with separate electric meters. It is positioned back from the road, complemented by a brook at the rear. The property benefits from abundant natural light and distant views of Cornell and East Hill. Outdoor spaces are readily accessible from nearly every room, including an enclosed sun porch, deck, patio, and second-floor balconies. A 2021 roof installation includes 30-year architectural shingles. Additional features include replacement windows, spray foam insulation, and a French drain. The property is connected to municipal water and sewer services. Located on South Hill, it is near Ithaca College and downtown Ithaca. The property is situated within the South Hill Elementary school district and has a lot size of 0.34 acres. The house has 1538 square feet of living space.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$226.2K
NOI $20,357 @ 9.00% cap · cautious / downside scenario
Moderate
$290.8K
NOI $20,357 @ 7.00% cap · market / base-case scenario
Aggressive
$407.1K
NOI $20,357 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.5k | $19.80 |
| − Vacancy | −$1.4k | −$0.89 |
| EGI | $29.1k | $18.91 |
| − OpEx | −$8.7k | −$5.67 |
| NOI | $20.4k | $13.24 |
1,538 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$290.8K
$254.5K – $339.3K
NOI $20,357 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$269.5K
$235.8K – $314.4K
NOI $18,865 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$479.9K
$419.9K – $559.9K
NOI $33,595 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Ithaca
- County
- Tompkins
- State
- New York
- Longitude
- -76.486772
- Latitude
- 42.424349
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two-unit stucco Tudor near Ithaca College and downtown.
Where is this duplex located?
The property is located at 308 Coddington Road Ithaca, NY.
What is the asking price?
The asking price for this property is $318,000.
What are key features of this property?
This property features: Flexible two‑unit floor plan (2 BR, 1 Bath + 1 BR, 1 Bath) suitable for single‑family or two‑family living, ideal for owner‑occupancy or investment.; Prime location near Ithaca College and downtown Ithaca.; 2021 Roof with 30‑Year Architectural Shingles.
