Two-Unit Duplex with
For Sale
$360,000
71 Besemer Road, Ithaca, NY 14850
Two distinct layouts support owner occupancy, extended-family living, or rental use.
Property Size1,878 SF
Lot Size1.03 Acres
Days on Market20
Property Features for 71 Besemer Road
General Information
Standard status
Active
Size
1,878 SF
Lot size
1.03 Acres
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,238
Building Details
Building Size
1,878 SF
Year Built
1985
Stories
2
Units
2
Listing Agency:
Howard Hanna S Tier Inc
(607) 342-2148
Listed By:
Kyle Steele
(607) 342-2148
Source:
Homeprocny
Added: Aug 11
Changed: Aug 27
Last Checked: Aug 28 at 11:31AM
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
Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom units on a 1.03-acre parcel. The two-story residence includes 1.5 baths, an updated kitchen, and an open living area. The second unit offers single-level living with an open kitchen and living area, two bedrooms, and a full bath. Built in 1985, the property provides separate residential layouts within one two-family asset.
The property is located just outside Brooktondale, with access to Ithaca, Cornell University, and Ithaca College. Nearby state forests provide opportunities for hiking, mountain biking, and cross-country skiing. The configuration supports several documented uses, including living in one unit while renting the other, multigenerational living, or accommodating extended family.
The property is located just outside Brooktondale, with access to Ithaca, Cornell University, and Ithaca College. Nearby state forests provide opportunities for hiking, mountain biking, and cross-country skiing. The configuration supports several documented uses, including living in one unit while renting the other, multigenerational living, or accommodating extended family.
Key Highlights
- Two 2‑bedroom units on 1.03 acres
- Two‑story unit with 1.5 baths and updated kitchen
- Second unit offers single‑level living with a full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,858
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$497,160
$497.2K
Cap Rate 7%
$355,114
$355.1K
Cap Rate 9%
$276,200
$276.2K
Market Conditions
NOI Build-Up for 1,878 SF
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.
Gross rent
$37.2K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$35.5K $18.91/SF
− OpEx
−$10.7K −$5.67/SF
NOI
$24.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$497,160
Cap Rate 7%
$355,114
Cap Rate 9%
$276,200
Alternative Uses
Best Use
Multifamily LT 5
$355.1K
$310.7K – $414.3K
NOI $24,858 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$329.1K
$288.0K – $383.9K
NOI $23,036 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$586.0K
$512.8K – $683.7K
NOI $41,021 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
42
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct layouts support owner occupancy, extended-family living, or rental use.
Where is this duplex located?
The property is located at 71 Besemer Road Ithaca, NY.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two 2‑bedroom units on 1.03 acres; Two‑story unit with 1.5 baths and updated kitchen; Second unit offers single‑level living with a full bath
