Description
This six-unit multifamily property offers an excellent value-add investment in one of Central New York's strongest rental markets. Conveniently located near Oneida Lake, Sylvan Beach, Turning Stone Resort Casino, multiple marinas, and the New York State Thruway, the property benefits from strong year-round rental demand. The 6,250± square-foot building includes one two-bedroom apartment and five oversized one-bedroom units, each with...6-Unit Multifamily Investment Opportunity – Offered at $295,000
This six-unit multifamily property offers an excellent value-add investment in one of Central New York's strongest rental markets. Conveniently located near Oneida Lake, Sylvan Beach, Turning Stone Resort Casino, multiple marinas, and the New York State Thruway, the property benefits from strong year-round rental demand. The 6,250± square-foot building includes one two-bedroom apartment and five oversized one-bedroom units, each with spacious living areas and full kitchens. Approximately 90% rebuilt in 1991, the property also features ample off-street parking and a large yard. At current market rents of $1,000–$1,250 per month, projected gross annual income is approximately $81,000, with an estimated Net Operating Income (NOI) of $47,200. At the $295,000 asking price, the property offers a projected 16% cap rate, providing exceptional cash flow potential. With room for continued rent growth, a desirable location, and limited competing inventory, this property presents a rare opportunity to acquire a high-yield multifamily asset with both immediate income and long-term upside.
- Listed by Ryan O'Mara • Hunt Real Estate ERAP: (315)-243-6488 C: (315)-243-6488 ryan.omara@huntrealestate.com
Property Details for 8991 Morris Rd Extension
Property Details for 8991 Morris Rd Extension
| Status | Active |
|---|---|
| MLS # | S1699220 |
| Days on Market | Listed Today |
| Taxes | $13,772 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Property Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1930 |
| Lot Size | 0.51 AC / 22,215 SF |
| County | Madison County |
Location
Building Information for 8991 Morris Rd Extension
Payment Calculator
$2,618 per month
30 year fixed, 6.36% Interest
$1,470
$1,148
$0
Know your buying power with a preapproval and custom rate in minutes
1Property Information for 8991 Morris Rd Extension
- Cross Street: Morris Rd. Ext.
- Latitude: 43.156028
- Longitude: -75.746966
- MLS Area Major: Lenox-253689
- Has Senior Community: No
- Township: Not Applicable
- Parcel Number: 253689-013-006-0001-001-000-0000
- Tax Annual Amount: $13,772.00
- Tax Assessed Value: 150000
- Elementary School District: Canastota
- High School: Canastota High
- High School District: Canastota
- Middle Or Junior School: Roberts Street Middle
- Middle Or Junior School District: Canastota
- Garage Spaces: 0.0
- Has Garage: No
- Parking Features: Three Or More Spaces, No Garage
- Virtual Tour URL Branded: https://www.propertypanorama.com/instaview-tour/syr/S1699220
- Virtual Tour URL Unbranded: https://www.propertypanorama.com/instaview/syr/S1699220
- Lot Features: Irregular Lot
- Lot Size Acres: 0.51
- Lot Size Area: 0.51
- Lot Size Units: Acres
- Lot Size Dimensions: 157X131
- Lot Size Square Feet: 22216.0
- Road Frontage Type: Main Thoroughfare
- Building Area Total: 6261.0
- Living Area: 6261.0
- Property Condition: Resale
- Property Sub Type: Other
- Property Sub Type Additional: Other
- Property Type: Residential Income
- Year Built: 1930
- Year Built Details: Existing
- Construction Materials: Vinyl Siding
- Levels: Two
- Electric: Circuit Breakers
- Number Of Separate Electric Meters: 7
- Number Of Separate Gas Meters: 1
- Sewer: Connected
- Utilities: Cable Available, High Speed Internet Available, Sewer Connected, Water Connected
- Water Source: Connected, Public
- Appliances: Electric Oven, Electric Range, Gas Water Heater, Refrigerator
- Basement: Crawl Space, Full, Sump Pump
- Has Basement: Yes
- Bathrooms Total Integer: 0
- Bedrooms Total: 6
- Cooling: Ceiling Fan(s)
- Has Cooling: Yes
- Has Fireplace: No
- Flooring: Carpet, Laminate, Varies, Vinyl
- Heating: Gas, Baseboard, Hot Water
- Has Heating: Yes
- Interior Features: Ceiling Fans, Natural Woodwork
- Main Level Bathrooms: 0
- Community Features: None
- Exterior Features: Gravel Driveway
- Roof: Asphalt
- Stories: 2
- Stories Total: 2
- Number Of Units Total: 6
- Operating Expense Includes: Accounting, Electric, Fuel, Legal, Maintenance Structure, Maintenance, Snow Removal, Trash, Water Sewer
- Rent Includes: Common Area Maintenance, Heat, Hot Water, Snow Removal, Trash Collection, Water
Property History for 8991 Morris Rd Extension
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Jul 16, 2026 | Listed (Active) Central New York Information Services #S1699220 | $295,000 | — |
| Jul 16, 2026 | Listed (Active) WNYREIS #S1699220 | $295,000 | — |
| Jul 16, 2026 | Listed (Active) New York State Alliance of MLSs (Buffalo) #S1699220 | $295,000 | — |
| Sep 29, 2023 | Expired WNYREIS #S1473622 | — | |
| Sep 29, 2023 | Expired Central New York Information Services #S1473622 | $300,000 | — |
| Sep 29, 2023 | Expired New York State Alliance of MLSs (Buffalo) #S1473622 | $300,000 | — |
| Jun 5, 2023 | Price Change Central New York Information Services #S1473622 | $300,000 | — |
| May 25, 2023 | Listed (Active) New York State Alliance of MLSs (Buffalo) #S1473622 | $329,900 | — |
| May 25, 2023 | Listed (Active) Central New York Information Services #S1473622 | $329,900 | — |
| May 25, 2023 | Listed (Active) WNYREIS #S1473622 | $329,900 | — |
| Apr 2, 2021 | Expired WNYREIS #S1304673 | — | |
| Apr 2, 2021 | Expired New York State Alliance of MLSs (Buffalo) #S1304673 | $229,989 | — |
| Nov 2, 2020 | Listed (Active) WNYREIS #S1304673 | $229,989 | — |
| Nov 2, 2020 | Listed (Active) New York State Alliance of MLSs (Buffalo) #S1304673 | $229,989 | — |
| Date | Event & Source | Price |
|---|---|---|
| 07/16/2026 | Listed (Active) Central New York Information Services #S1699220 | $295,000 |
| 07/16/2026 | Listed (Active) WNYREIS #S1699220 | $295,000 |
| 07/16/2026 | Listed (Active) New York State Alliance of MLSs (Buffalo) #S1699220 | $295,000 |
| 09/29/2023 | Expired WNYREIS #S1473622 | — |
| 09/29/2023 | Expired Central New York Information Services #S1473622 | $300,000 |
| 09/29/2023 | Expired New York State Alliance of MLSs (Buffalo) #S1473622 | $300,000 |
| 06/05/2023 | Price Change Central New York Information Services #S1473622 | $300,000 |
| 05/25/2023 | Listed (Active) New York State Alliance of MLSs (Buffalo) #S1473622 | $329,900 |
| 05/25/2023 | Listed (Active) Central New York Information Services #S1473622 | $329,900 |
| 05/25/2023 | Listed (Active) WNYREIS #S1473622 | $329,900 |
| 04/02/2021 | Expired WNYREIS #S1304673 | — |
| 04/02/2021 | Expired New York State Alliance of MLSs (Buffalo) #S1304673 | $229,989 |
| 11/02/2020 | Listed (Active) WNYREIS #S1304673 | $229,989 |
| 11/02/2020 | Listed (Active) New York State Alliance of MLSs (Buffalo) #S1304673 | $229,989 |
For completeness, we often displays two records for one sale: the MLS record and the public record.
Schools near 8991 Morris Rd Extension
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 2 | |||
| Public - | 3 to 4 | |||
| Public - | 5 to 8 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Peterboro Street Elementary School PublicPK to 2 | ||
South Side Elementary School Public3 to 4 | ||
Roberts Street Middle School Public5 to 8 | ||
Canastota High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Explore Nearby Homes
- Fenner Homes for Sale
- Lincoln Homes for Sale
- Smithfield Homes for Sale
- Vienna Homes for Sale
- Stockbridge Homes for Sale
- Oneida Castle Homes for Sale
- Nelson Homes for Sale
- Cazenovia Village Homes for Sale
- Verona Hamlet Homes for Sale
- Manlius Area Homes for Sale
- Augusta Homes for Sale
- Fayetteville Area Homes for Sale
- Vernon Village Homes for Sale
- Annsville Homes for Sale
- Manlius Village Homes for Sale
- Wampsville Homes for Sale
- Verona Beach Homes for Sale
- Verona Homes for Sale
- Sullivan Homes for Sale
- Oneida Homes for Sale
- Lenox Homes for Sale
- Clockville Homes for Sale
- Canastota Homes for Sale
- Durhamville Homes for Sale
- Sylvan Beach Homes for Sale
- Constantia Homes for Sale
- Chittenango Homes for Sale
- Cazenovia Homes for Sale
- Kirkville Homes for Sale
- Blossvale Homes for Sale
- 13162 Homes for Sale
- 13043 Homes for Sale
- 13054 Homes for Sale
- 13163 Homes for Sale
- 13035 Homes for Sale
- 13037 Homes for Sale
- 13421 Homes for Sale
- 13408 Homes for Sale
- 13042 Homes for Sale
- 13157 Homes for Sale
- 13030 Homes for Sale
- 13409 Homes for Sale
- 13308 Homes for Sale
- 13478 Homes for Sale
- 13082 Homes for Sale
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Hunt Real Estate ERA
The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the New York State Alliance MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than Compass and its related brokerages, are indicated by detailed information about them such as the name of the listing firms. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor Compass and its related brokerages shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Copyright ©2026 New York State Alliance and participating MLS's - CNYIS, UNYREIS and WNYREIS. All Rights Reserved.
