3-Unit Triplex with
For Sale
$675,000
719 Hayts Road, Ithaca, NY 14850
Residential, Ithaca, NY
Property Size3,265 SF
Lot Size2.99 Acres
Price / SF$206.74
Days on Market94
Property Features for 719 Hayts Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 5, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 4, Bathroom 3, Bedroom 2
Parking features
Garage, Open
Interior features
CeilingFans
Appliances
ElectricWaterHeater, WaterSoftenerRented
Lot features
Agricultural, Rectangular, Rectangular Lot
Elementary school
Trumansburg Elementary
Elementary school district
Trumansburg
Middle school district
Trumansburg
High school district
Trumansburg
Directions
Cross over Applegate intersection. Property is across from Hillendale Golf Course. NO RE sign - look for TAI Properties Sign by Road.
Subdivision
Enfield-502600
Standard status
Active
APN
502600-005-000-0002-003-008-0000
Size
3,265 SF
Lot size
2.99 Acres
Taxes and HOA fees
Tax Annual Amount
10523
Utilities
Sewer type
Septic Tank
Heating system
Ductless (Heating), Baseboard, Electric (Heating)
Cooling system
Ductless
Water source
Well
Amenities
custom cabinetry
slate gray appliances
stainless drop in kitchen sinks
luxury vinyl flooring
oversized double pane windows
walk in showers with sliding doors
high-efficiency heating and cooling units
stackable washer and dryer
one car attached garage
Building Details
Year built
2019
Floors in Building
1
Number of units
3
Flooring type
Varies, Laminate, Vinyl
Building materials
BlownInInsulation, VinylSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
RE/MAX In Motion · RE/MAX International
(607) 277-1500
Listed By:
Chelsey Smith · License #10401325229
(607) 592-8553
Added: Jun 2
Changed: Aug 19
Last Checked: Sep 3 at 9:06AM
MLS# R1686493
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.
This 3-unit residential property contains 3265 square feet with a total of 6 bedrooms and 5 bathrooms. Two units feature 2 bedrooms and 2 full bathrooms, while the middle unit includes 2 bedrooms and 1 bathroom. Interior details include custom cabinetry, slate gray and stainless kitchen appliances, luxury vinyl flooring, oversized double-pane windows, and walk-in showers with sliding doors. Each unit has a stackable washer and dryer, high-efficiency heating and cooling equipment, and a private one-car attached garage with interior access.
Built in 2019, the property occupies 2.99 acres in the Trumansburg School District. Additional site and building features include open parking, vinyl siding, blown-in insulation, a shingle and asphalt roof, well water, and a septic tank system. The property is located at 719 Hayts Road in Ithaca, NY.
Built in 2019, the property occupies 2.99 acres in the Trumansburg School District. Additional site and building features include open parking, vinyl siding, blown-in insulation, a shingle and asphalt roof, well water, and a septic tank system. The property is located at 719 Hayts Road in Ithaca, NY.
Key Highlights
- 3‑unit property with 6 bedrooms and 5 bathrooms
- 2.99‑acre site in the Trumansburg School District
- 3265 square feet of residential space
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
$43,217
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
6.40%
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%
$864,340
$864.3K
Cap Rate 7%
$617,386
$617.4K
Cap Rate 9%
$480,189
$480.2K
Market Conditions
NOI Build-Up for 3,265 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
$64.6K $19.80/SF
− Vacancy
−$2.9K −$0.89/SF
EGI
$61.7K $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 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%
$864,340
Cap Rate 7%
$617,386
Cap Rate 9%
$480,189
Alternative Uses
Best Use
Multifamily LT 5
$617.4K
$540.2K – $720.3K
NOI $43,217 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$572.1K
$500.6K – $667.5K
NOI $40,049 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$1.02M
$891.5K – $1.19M
NOI $71,318 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
12
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?
Triplex - 2019 construction offers six bedrooms, five bathrooms, and updated finishes across three residential units.
Where is this triplex located?
The property is located at 719 Hayts Road Ithaca, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 3‑unit property with 6 bedrooms and 5 bathrooms; 2.99‑acre site in the Trumansburg School District; 3265 square feet of residential space
