Duplex with Attached
New
For Sale
$350,000
Pending
463 Hayts Road, Ithaca, NY 14850
A one-acre setting includes a separate apartment with its own utilities and private deck.
Property Size2,336 SF
Lot Size1.00 Acre
Days on Market6
Property Features for 463 Hayts Road
General Information
Standard status
Pending
Size
2,336 SF
Lot size
1.00 Acre
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,797
Amenities
Ceiling Fan(s)
Sliding Glass Door(s)
Bedroom on Main Level
Deck
Building Details
Building Size
2,336 SF
Year Built
1990
Stories
1
Units
2
Listing Agency:
Howard Hanna S Tier Inc
Listed By:
Karen Eldredge
(607) 279-4319
Source:
Geracerealty
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 26 at 3:59AM
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 Howard Hanna S Tier Inc
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Investment Insights
Based on property information with market context.
This duplex pairs a three-bedroom, two-bath main home with a separate two-bedroom apartment above the attached two-car garage. The main level includes the primary suite, two additional bedrooms, and a second full bath. Kitchen features include black granite countertops and a new dishwasher, while French doors connect the dining area to a back deck. The partially finished basement has three additional rooms, and the home uses WiFi-controlled heat. The apartment has separate utilities and its own private deck.
Set on one level acre with open lawn and mature trees, the property is located near Ithaca and Cayuga Medical Center. Built in 1990, it contains 2,336 square feet.
Set on one level acre with open lawn and mature trees, the property is located near Ithaca and Cayuga Medical Center. Built in 1990, it contains 2,336 square feet.
Key Highlights
- Separate two‑bedroom apartment above the attached two‑car garage
- Main home offers three bedrooms and two full baths on the main level
- Apartment has its own utilities and private deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,920
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,400
$618.4K
Cap Rate 7%
$441,714
$441.7K
Cap Rate 9%
$343,556
$343.6K
Market Conditions
NOI Build-Up for 2,336 SF
Gross rent
$46.3K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.2K $18.91/SF
− OpEx
−$13.3K −$5.67/SF
NOI
$30.9K $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 Rate 5%
$618,400
Cap Rate 7%
$441,714
Cap Rate 9%
$343,556
Alternative Uses
Best Use
Multifamily LT 5
$441.7K
$386.5K – $515.3K
NOI $30,920 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$409.3K
$358.2K – $477.6K
NOI $28,654 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$728.9K
$637.8K – $850.4K
NOI $51,025 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
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Business Placement
Demographics for 14850, NY
69,271
Population
31,772
Households
2.2
Avg Household Size
29
Median Age
72%
College-Educated
96%
High-School Grad
124.8 sq mi
ZIP Area
555
Density / Sq Mi
$69,689
Median Household Income
$36,115
Median Earnings
$1,446
Median Rent
$334,800
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 - A one-acre setting includes a separate apartment with its own utilities and private deck.
Where is this duplex located?
The property is located at 463 Hayts Road Ithaca, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Separate two‑bedroom apartment above the attached two‑car garage; Main home offers three bedrooms and two full baths on the main level; Apartment has its own utilities and private deck
