Investment Property Near Cornell
For Sale
Contact for pricing
708 E Seneca St, Ithaca, NY 14850
Desirable investment property with excellent rental history near Cornell.
Property Size3,266 SF
Price / SF$283.22
Days on Market155
Property Features for 708 E Seneca St
General Information
Standard status
Active
Size
3,266 SF
Property subtype
Multifamily
Building Details
Year Built
1913
Stories
3
Units
3
Listing Agency:
Warren Real Estate Village Office
Listed By:
Kathleen Markowski · License #NY 30MA0818780
(607) 342-0778
Source:
Crexi
Added: May 9
Changed: Oct 2
Last Checked: Oct 9 at 8:04PM
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 Warren Real Estate Village Office
Investment Insights
Based on property information with market context.
This investment property features an excellent rental history and is located near the entrance to Cornell Law School. Situated in Collegetown, the property offers a diversified floor plan. The layout includes one 4-bedroom unit and two 3-bedroom units. Interior features consist of bright rooms, hardwood floors, and roomy kitchens. Laundry facilities are available. Exterior amenities include a spacious backyard, a triple back-tier deck, and an inviting front porch. The property has been rented as a whole house, but the floor plan allows for flexible use as individual units. The property size is 3266 square feet.
Key Highlights
- Excellent rental history near Cornell Law School
- Flexible floor plan suitable for whole house rental or individual units
- Includes one 4‑bedroom and two 3‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,062
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$801,240
$801.2K
Cap Rate 7%
$572,314
$572.3K
Cap Rate 9%
$445,133
$445.1K
Market Conditions
NOI Build-Up for 3,266 SF
Gross rent
$76.0K $23.28/SF
− Vacancy
−$3.2K −$0.98/SF
EGI
$72.8K $22.30/SF
− OpEx
−$32.8K −$10.04/SF
NOI
$40.1K $12.27/SF
Area
Tompkins County, NY
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$801,240
Cap Rate 7%
$572,314
Cap Rate 9%
$445,133
Alternative Uses
Best Use
Apartment 5plus
$572.3K
$500.8K – $667.7K
NOI $40,062 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.7K – $1.19M
NOI $71,339 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,274
Businesses Nearby
Explore this area
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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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?
Multifamily property - Desirable investment property with excellent rental history near Cornell.
Where is this multifamily property located?
The property is located at 708 E Seneca St Ithaca, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Excellent rental history near Cornell Law School; Flexible floor plan suitable for whole house rental or individual units; Includes one 4‑bedroom and two 3‑bedroom units
