8991 Morris Rd. Ext.route 31, Canastota, NY 13032

Canastota
Local realty services provided by:HUNT Real Estate ERA
8991 Morris Rd. Ext.route 31,Canastota, NY 13032
$295,000
Virtual Tour
  • 6 Beds
  • - Baths
  • 6,261 sq. ft.
  • Multi-family
  • Pending
Listed by:
Office: hunt real estate era
MLS#:S1699220
Source:NY_GENRIS

Price summary

  • Price:$295,000
  • Price per sq. ft.:$47.12

About this home

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...

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Home facts

  • Year built:1930
  • Subdivision & Development:Oneida Crk
  • Listing ID #:S1699220
  • Added:49 day(s) ago
  • Updated:September 03, 2026 at 02:11 PM

Rooms and interior

  • Bedrooms:6
  • Flooring:Carpet, Laminate, Varies, Vinyl
  • Kitchen Description:Refrigerator
  • Basement:Yes
  • Basement Description:Crawl Space, Full, Sump Pump
  • Living area:6,261 sq. ft.

Heating and cooling

  • Heating:Baseboard, Gas, Hot Water

Structure and exterior

  • Roof:Asphalt
  • Year built:1930
  • Building area:6,261 sq. ft.
  • Lot area:0.51 Acres
  • Lot Features:Irregular Lot
  • Construction Materials:Vinyl Siding
  • Levels:2 Stories

Schools

  • High school:Canastota High
  • Middle school:Roberts Street Middle

Utilities

  • Water:Connected, Public, Water Connected
  • Sewer:Connected, Sewer Connected

Finances and disclosures

  • Price:$295,000
  • Price per sq. ft.:$47.12
  • Tax amount:$13,772

Features and amenities

  • Appliances:Refrigerator

Parking

  • Parking description:No Garage

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