20

Ithaca, NY Multifamily Homes & Duplexes for Sale

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  • /14

    $649,000

    • 7 Beds
    • 3 Baths
    • 1,920 Sq Ft

    937 E State St, Ithaca, NY 14850

    Discover a rare opportunity at 937 State Street; two homes on one parcel. This property is perfect for multi-generational living, rental income or a savvy investment. With strong rental potential due to its proximity to Cornell University, this property is a fantastic addition to any real estate portfolio. The primary residence offers 2 apartments in the house; an upper and lower apartment with 2

    Jill Burlington Warren Real Estate of Ithaca Inc.

    937 E State St, Ithaca, NY 14850
  • /50

    $1,000,000

    • 8 Beds
    • 3 Baths
    • 4,283 Sq Ft

    411 Dryden Rd, Ithaca, NY 14850

    This property rests in the heart of Ithaca's vibrant Collegetown neighborhood. This exceptional multi-family property offers a rare combination of prime location and solid investment potential. Just steps from Cornell University, this well-appointed 8-bedroom, 3-bathroom residence stands as a testament to quality craftsmanship and thoughtful design. The sturdy construction provides a reassuring

    David Wahl Warren Real Estate of Ithaca Inc. (Downtown)

    411 Dryden Rd, Ithaca, NY 14850
  • /50

    $1,150,000

    • 6 Beds
    • 7,002 Sq Ft

    811 N Tioga St, Ithaca, NY 14850

    Exceptional Six-Unit Investment Opportunity — This 7,000 SF property stands apart for its focus on meaningful, lasting improvements over cosmetic updates. Over 18 years, the current owner has prioritized major infrastructure upgrades that reduce future maintenance, repair, and capital expenditure costs. Key updates include structural reinforcement, enhanced insulation, complete plumbing and

    Kelly Skeval Howard Hanna S Tier Inc

    811 N Tioga St, Ithaca, NY 14850
  • /30

    $675,000

    • 8 Beds
    • 3.5 Baths
    • 2,859 Sq Ft

    918 Danby Rd Unit 1-2, Ithaca, NY 14850

    LOCATION! LOCATION! Conveniently walking distance to Ithaca College. 1 mile from downtown Ithaca, this property is located at 918 Danby Road, in the town of Ithaca, NY. This 2 Family property consists of 2 four-bedroom units set back from the road with plenty of open space. One two-story 4-bedroom apartment and one 3-story apartment. Right next to campus and close to downtown Ithaca. Easy walk to

    Michelle Adams Keller Williams Realty

    918 Danby Rd Unit 1-2, Ithaca, NY 14850
  • /22

    $690,000

    • 14 Beds
    • 4 Baths
    • 4,500 Sq Ft

    316 S Aurora St, Ithaca, NY 14850

    Priced at assessed value, this large 4 unit on South Hill is conveniently located near The Commons, Cornell University, and Ithaca College. This property includes two tax parcels with each side featuring a 3 bedroom and a 4 bedroom apartment, for a total of four units. The property also boasts on-site parking, laundry income, and rent growth potential for the savvy investor.

    Melissa Skodzinsky Listing by Berkshire Hathaway HomeServices Heritage Realty

    316 S Aurora St, Ithaca, NY 14850
  • /24

    $650,000

    • 5 Beds
    • 2,869 Sq Ft

    614 E State St, Ithaca, NY 14850

    Located at the highly visible corner of East State Street and Quarry Street, 614–618 E State Street presents a compelling opportunity to acquire a well-positioned, income-producing multifamily asset in Ithaca’s sought-after Lower Collegetown area. This five-unit property combines a diversified unit mix, recent capital improvements, and a prime corner location that benefits from strong rental

    Kyle Steele Howard Hanna S Tier Inc

    614 E State St, Ithaca, NY 14850
  • /50

    $1,250,000

    • 16 Beds
    • 4 Baths
    • 3,997 Sq Ft

    410 Stewart Ave, Ithaca, NY 14850

    Welcome to your next investment opportunity at 410 Stewart Avenue, a remarkable multi-family property available for sale. This investment property is situated in the heart of Lower Collegetown, offering an excellent location for both residents and investors. With 16 bedrooms, 3 bathrooms, 3 kitchens, 3 living rooms and ample parking space for 7 vehicles, this property is perfect for those seeking

    David Wahl Warren Real Estate of Ithaca Inc. (Downtown)

    410 Stewart Ave, Ithaca, NY 14850
  • /14

    $5,400,000

    • 11 Beds
    • 7,542 Sq Ft

    202 Linden Ave, Ithaca, NY 14850

    An exceptional opportunity in the heart of Cornell University's Collegetown: 202 Linden Ave is a high-quality, fully leased student housing asset offering strong income and long-term investment value. This modern, low-maintenance building features 10 units and 26 beds, thoughtfully configured to maximize appeal and occupancy. Fully furnished with in-unit washer/dryers, the unit mix includes three

    Tam Marion Warren Warren Real Estate of Ithaca Inc.

    202 Linden Ave, Ithaca, NY 14850
  • /39

    $1,250,000

    • 14 Beds
    • 4,507 Sq Ft

    306 Stewart Ave, Ithaca, NY 14850

    Introducing an exceptional opportunity at 306 Stewart Avenue, this spacious multi-family property in Ithaca is perfectly positioned for investors looking for reliable rental returns. Impressive long-term growth addition to their portfolio. With over 4500 sq. ft. of well-planned living space, this property distinguishes itself not only by size, but by its capacity to generate steady income in a

    David Wahl Warren Real Estate of Ithaca Inc. (Downtown)

    306 Stewart Ave, Ithaca, NY 14850
  • /36

    $2,100,000

    • 10,230 Sq Ft

    204-208 W Spencer St, Ithaca, NY 14850

    Offered for the first time in nearly half a century, this exceptionally well-maintained multifamily portfolio has been in the same family for 49 years. The property includes a total of 19 fully rented apartment units, each with dedicated parking.Located in the heart of Ithaca - close to public transportation, shopping, restaurants, Ithaca College, and Cornell University. This is an unbeatable

    Zoe Leonard Howard Hanna S Tier Inc

    204-208 W Spencer St, Ithaca, NY 14850
  • /22

    $329,000

    • 5 Beds
    • 2 Baths
    • 1,840 Sq Ft

    726 Cliff St, Ithaca, NY 14850

    This move-in ready West Hill duplex is a fantastic opportunity for investors or owner-occupants alike. Thoughtfully updated and ideally located, the property sits right on the bus route and is just minutes from downtown Ithaca and Cayuga Medical Center.Recent upgrades include:• New metal roof and siding• Mini-split heating/cooling systems• Updated flooring and interior paint•

    Zoe Leonard Howard Hanna S Tier Inc

    726 Cliff St, Ithaca, NY 14850
  • /34

    $468,000

    • 5 Beds
    • 3 Baths
    • 2,661 Sq Ft

    402 University Ave, Ithaca, NY 14850

    Rare opportunity on Cornell’s West Campus, bordering the beautiful Fall Creek neighborhood. Very short walk to Cornell, Cascadilla Gorge Trail, and waterfalls! Located outside of the designated flood zone! The main house can function as a 5-bedroom rental, or reserve the two rooms downstairs for full-size living and dining areas to create a comfortable home. Live in it yourself or capitalize on

    Tyler Parseghian Howard Hanna S Tier Inc

    402 University Ave, Ithaca, NY 14850
  • /32

    $895,000

    • 9 Beds
    • 2,973 Sq Ft

    116 Cook St, Ithaca, NY 14850

    Ivy League Collegetown property is highly regarded as some of the most stable, investment grade real estate in the country. Located in the heart of Cornell University’s Collegetown- This property features 10 bedrooms and can be rented in a variety of ways. Currently rented by the room, this property is prime for value add. Flexible CR-3 zoning allows for ground up redevelopment of up to 3 stories

    Kyle Steele Howard Hanna S Tier Inc

    116 Cook St, Ithaca, NY 14850
  • /48

    $559,900

    • 5 Beds
    • 3.5 Baths
    • 2,747 Sq Ft

    316 W Seneca St, Ithaca, NY 14850

    This dynamic triplex in the heart of downtown Ithaca is a short walk from restaurants, boutiques and Cornell University on one side and Wegmans and retail shopping galore on the other. This 3-unit features an occupied studio downstairs, an occupied 1BR downstairs, and an occupied 3 BR upstairs, making this an ideal investment property, as all rooms are generating income and rented through July

    Kevin Duffey Howard Hanna S Tier Inc

    316 W Seneca St, Ithaca, NY 14850
  • /21

    $1,150,000

    • 6 Beds
    • 2 Baths
    • 2,044 Sq Ft

    204 Linden Ave, Ithaca, NY 14850

    Positioned in the absolute heart of Cornell University’s Collegetown, 204–206 Linden Avenue represents a rare blend of immediate income, irreplaceable location, and long-term redevelopment upside. This side-by-side duplex offers investors and developers a strategic foothold in one of Ithaca’s most supply-constrained and consistently high-demand submarkets.The existing improvements consist of

    Kyle Steele Howard Hanna S Tier Inc

    204 Linden Ave, Ithaca, NY 14850
  • /29

    $1,050,000

    • 11 Beds
    • 3 Baths
    • 4,318 Sq Ft

    505 Dryden Rd, Ithaca, NY 14850

    Nestled in the vibrant heart of Collegetown, this exceptional multi-family property presents a rare opportunity for investors and Cornell University affiliates alike. Featuring an impressive 11 bedrooms and 3 bathrooms, this spacious residence offers tremendous potential for rental income in one of Ithaca's most sought-after locations. Just steps away from GreenStar Food Co op, residents enjoy

    David Wahl Warren Real Estate of Ithaca Inc. (Downtown)

    505 Dryden Rd, Ithaca, NY 14850
  • /27

    $1,150,000

    • 17 Beds
    • 2,402 Sq Ft

    129 Linden Ave, Ithaca, NY 14850

    Discover a rare opportunity to own a fully-leased, income-generating 8-bedroom rental home located just steps away from the heart of Cornell University's vibrant Collegetown in Ithaca, NY. This prime investment property is perfectly positioned to capitalize on the strong demand for student housing, offering consistent cash flow and significant upside potential through strategic value-add

    Kyle Steele Howard Hanna S Tier Inc

    129 Linden Ave, Ithaca, NY 14850
  • /8

    $685,000

    • 3 Beds
    • 4,168 Sq Ft

    506 E Seneca St, Ithaca, NY 14850

    Located in the heart of College Town, this charming 6-unit apartment building offers a unique blend of historic character and modern convenience. Just a short walk from Cornell University, and Downtown Ithaca. It is nestled within a well-preserved historic district, and this property offers 6 parking spaces. Call to schedule a showing tour!

    Zoe Leonard Howard Hanna S Tier Inc

    506 E Seneca St, Ithaca, NY 14850
  • /39

    $529,000

    • 6 Beds
    • 2 Baths
    • 2,234 Sq Ft

    445 N Tioga St, Ithaca, NY 14850

    Step into this exceptionally located duplex nestled in a thriving downtown neighborhood. Each unit boasts 3 bedrooms and 1 bath across 2,234 sq ft. Ideal for investors or homeowners. Incredible walkability: located in the desirable Fall Creek neighborhood, mere blocks from the Ithaca Commons and on city transit line, this desirable and updated duplex perfectly blends convenience with

    Tam Marion Warren Warren Real Estate of Ithaca Inc.

    445 N Tioga St, Ithaca, NY 14850
  • /16

    $1,100,000

    • 2 Beds
    • 2,510 Sq Ft

    133 Linden Ave, Ithaca, NY 14850

    Positioned within walking distance to the vibrant center of Cornell University’s Collegetown, this fully leased 8-bedroom rental property offers a rare investment opportunity with remarkable income potential. With proximity to one of the nation’s most prestigious institutions, the property is ideally situated to attract consistent demand from students and faculty alike. Currently generating

    Kyle Steele Howard Hanna S Tier Inc

    133 Linden Ave, Ithaca, NY 14850

Why Live in Ithaca

Nestled in the Finger Lakes region, Ithaca features over 150 waterfalls within 10 square miles, including Taughannock Falls which stands taller than Niagara Falls. The pedestrian-only Ithaca Commons serves as the city's cultural hub, lined with local boutiques and art galleries. Outdoor recreation thrives year-round through the Cascadilla Gorge Trail, Buttermilk Falls State Park, and the Black Diamond Trail, while the Cayuga Lake Wine Trail showcases the region's renowned wineries. The dining scene includes established restaurants like Moosewood, known for its vegetarian cuisine and cookbooks, and Taverna Banfi, serving exceptional Italian dishes on Cornell University's campus.

The median price for single-family homes varies significantly by neighborhood. Fall Creek homes have a median price of $420,000, while Forest Home commands $925,000. East Hill properties reach a median of $895,000, Cornell Heights homes stand at $580,000, and South Hill residences average $343,000. Condominiums present more affordable options, with median prices of $204,000 for one-bedroom units and $283,000 for two-bedroom homes. Townhouses in Ithaca have a median price of $419,500.

The cost of living in Ithaca measures 1.2% above the national average. A family with school-age children needs an annual income of $107,000 to live comfortably, while renters should aim for $61,000. Property taxes in Tompkins County run at 2.35%, lower than neighboring Syracuse at 2.59% and Binghamton at 2.64%. Groceries cost 4.7% below the national average for families, requiring approximately $1,500 monthly. Housing expenses average $2,400 monthly, 1.4% above the national average. The education system includes the A-rated Ithaca Senior High School and the A+ rated private Cascadilla School. Cornell University and Ithaca College anchor the higher education landscape.

Home Trends in Ithaca, NY

Housing Trends

Median Sale Price
$482,500
Median Single Family Sale Price
$488,000
Median Townhouse Sale Price
$427,500
Median 2 Bedroom Sale Price
$254,950
Median 1 Bedroom Sale Price
$188,000
Average Price Per Sq Ft
$235
Number of Homes for Sale
28
Last 12 months Home Sales
300
Months of Supply
1.10
Median List Price
$493,750
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
12%
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