616 N Cayuga Street Ithaca, NY 14850
MULTI_FAMILY - Other - Ithaca, NY
- Added:
- Jun 15, 2026
- Days on Market:
- 30
- Last Refresh:
- Jul 14 at 4:06 am
Property Features for 616 N Cayuga Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 1, Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 4, Basement
- Parking features
- On Street, Driveway
- Patio and Porch features
- Porch
- Interior features
- Attic, CathedralCeilings, ProgrammableThermostat
- Appliances
- GasWaterHeater
- Standard status
- Active
- APN
- 500700-034-000-0008-007-000-0000
- Size
- 3,940 SF
Taxes and HOA fees
- Tax Annual Amount
- 17190
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1890
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Varies, Hardwood, Vinyl
- Building materials
- BlownInInsulation, SprayFoamInsulation, VinylSiding, CopperPlumbing, PexPlumbing
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent Jill Rosentel License #10301201202 (607) 280-2491
Listing office Warren Real Estate of Ithaca Inc. (Downtown) 140 Seneca Way Suite 200, Ithaca, NY (607) 257-0666
Listing date Jun 15, 2026
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 in the heart of Fall Creek at 616 N Cayuga Street in Ithaca, NY, the home is described as walkable from everyday destinations. Notably, front doors are located on two different streets, creating the appearance of two separate houses. Each unit has its own front porch, and the property benefits from plenty of on-street parking. Separate utilities for each unit include water.
This configuration can suit an owner-occupant looking to live in one side while collecting passive income from the other, or an investor seeking a multi-unit property with distinct utility setups. The insulated construction, updated mechanicals, and separate entry setup are useful for day-to-day comfort and straightforward unit separation.
Key Highlights
- 6‑bedroom duplex with 3.5 baths and separate main‑floor living, dining, and kitchen areas
- Front doors on two different streets for two separate‑entrance setups
- Energy‑efficient vinyl replacement windows and full insulation including blown‑in insulation and spray foam insulation
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 | $78.0k | $19.80 |
| − Vacancy | −$3.5k | −$0.89 |
| EGI | $74.5k | $18.91 |
| − OpEx | −$22.4k | −$5.67 |
| NOI | $52.2k | $13.24 |
