509 Five Mile Drive

Ithaca, NY 14850

  • 6 Bed(s)
  • 5 Bath(s)
  • 2,644 Sqft
  • 1.79
    Acres(Lot)
$399,000

Description

This unique property offers the perfect blend of potential and passive income. set on a stunning 1.8-acre lot, 509 five mile drive includes a main single-family residence and a legally grandfathered duplex that was once a barn.

the main house, while in need of renovation, served as a cherished home for many years and previously rented for $1,300/month. it's now ready for your vision—bring your contractor and design ideas to transform it into your dream home.

the accessory duplex provides immediate income and has a large unfished attic space. the upper unit (509a) is a bright, beautifully maintained 1-bedroom apartment renting for $960/month. lease ends 12-31-25. the lower 1-bedroom unit (509b) features a walk-out to a covered deck and patio with tranquil views of the expansive backyard and currently rents for $970/month. tenant is month to month.

whether you're looking to invest or create a custom home while offsetting costs with rental income, this is a rare find in a prime location.

  • Property Type

    Residential

  • County

    Tompkins

  • Style

    Historic Antique, Two Story

  • AD ID

    49558561

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BuyOwner last updated this listing 05/05/2025 @ 04:39

  • MLS: R1602944
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: IthacaNY

is a Home, with 6 bedrooms which is for sale, it has 2,644 sqft, 2 sized lot, and 0 parking. are nearby neighborhoods.