203 Prospect St, Ithaca, NY 14850

Exceptional fully rented 2-unit investment property located just a few blocks from Downtown's Ithaca Commons, generating a gross income of $54,000 through July 31, 2026, and $55,800 for the following year through July 31, 2027. Each apartment offers 3 bedrooms and 1 bath, featuring hardwood floors, kitchens with vintage charm, spacious living and dining areas, many vinyl windows, and convenient access to a shared washer and dryer in the main foyer. Off-street parking and a garage provide ample vehicle space, while both units share a welcoming front porch, a backyard ideal for entertaining, and a back porch and patio accessible from the second-floor apartment as well as from ground level, enhancing outdoor enjoyment. Fully furnished units are equipped with the following appliances: one gas stove and one electric stove, two refrigerators, one dishwasher, two range hoods, and shared washer/dryer in the main foyer, with tenants responsible for all utilities, including water and sewer. A current Certificate of Compliance dated 7/28/2025 is included in the attached documents. Average maintenance expenses, which also include painting, cleaning, repairs, and supplies for turnovers, calculated from the past three years, are $4,455 per year, with insurance for 2025 at $2,900 annually, accounting at $378 per year, and advertising at $145 per year. Snow removal and lawn care are handled by the owner, with only gas for the lawnmower, approximately $200 per year.