Triplex with Three-Tier
New
For Sale
$850,000
708 E Seneca Street, Ithaca, NY 14850
Residential, Ithaca, NY
Property Size3,266 SF
Price / SF$260.26
Days on Market2
Property Features for 708 E Seneca Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bedroom 9, Bedroom 2, Bathroom 3, Bedroom 7, Bedroom 10, Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 8, Bedroom 4, Bedroom 5, Basement
Parking features
Driveway
Patio and Porch features
Deck
Interior features
CeilingFans
Exterior features
Balcony, Deck
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school
Belle Sherman
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Subdivision
Ithaca-City-500700
Standard status
Active
APN
500700-063-000-0009-003-000-0000
Size
3,266 SF
Taxes and HOA fees
Tax Annual Amount
26240
Utilities
Heating system
Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Amenities
hardwood floors
laundry
spacious backyard
triple back-tier deck
inviting front porch
Building Details
Year built
1913
Floors in Building
3
Number of units
3
Flooring type
Varies, Tile, Hardwood
Building materials
Stucco
Roof type
Tile, Slate
Architectural style
Other
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Kathleen M Markowski · License #30MA0818780
(607) 342-0778
Added: Nov 2
Last Checked: Nov 3 at 2:06PM
MLS# R1725359
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.
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Investment Insights
Based on property information with market context.
This 3,266-square-foot triplex, built in 1913, is configured as one four-bedroom residence and two three-bedroom residences. The property has hardwood floors, roomy kitchens, laundry, a front porch, a backyard, and a three-tier rear deck. Flooring also includes tile, and the building has stucco construction.
The property is seconds from the Cornell Law School entrance in Ithaca. Its layout has been used as a whole-house rental and can also accommodate separate unit rentals. An approximate 8% cap rate is noted.
The property is seconds from the Cornell Law School entrance in Ithaca. Its layout has been used as a whole-house rental and can also accommodate separate unit rentals. An approximate 8% cap rate is noted.
Key Highlights
- Three‑unit layout with one 4‑bedroom residence and two 3‑bedroom residences
- 3,266 square feet; built in 1913
- Approximate 8% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,230
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$864,600
$864.6K
Cap Rate 7%
$617,571
$617.6K
Cap Rate 9%
$480,333
$480.3K
Market Conditions
NOI Build-Up for 3,266 SF
Gross rent
$64.7K $19.80/SF
− Vacancy
−$2.9K −$0.89/SF
EGI
$61.8K $18.91/SF
− OpEx
−$18.5K −$5.67/SF
NOI
$43.2K $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%
$864,600
Cap Rate 7%
$617,571
Cap Rate 9%
$480,333
Alternative Uses
Best Use
Multifamily LT 5
$617.6K
$540.4K – $720.5K
NOI $43,230 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$572.3K
$500.8K – $667.7K
NOI $40,062 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$1.02M
$891.7K – $1.19M
NOI $71,339 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,274
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?
Triplex - The layout can be leased as one house or arranged for rental by individual units.
Where is this triplex located?
The property is located at 708 E Seneca Street Ithaca, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three‑unit layout with one 4‑bedroom residence and two 3‑bedroom residences; 3,266 square feet; built in 1913; Approximate 8% cap rate
