137 Fayette Street

Ithaca, NY 14850

Opportunities like this are exceptionally rare in downtown Ithaca. Completely reimagined in 2023, this property was taken down to the studs and rebuilt with quality craftsmanship throughout, offering the feel of new construction in one of the city’s most established neighborhoods. Whether you’re looking for a primary residence with supplemental rental income, a fully income-producing investment, or housing with exceptional flexibility, this property delivers. Configure it as a spacious two-bedroom home with a separate one-bedroom apartment, or lease both units to maximize its investment potential. Its desirable downtown location also lends itself well to long-term, mid-term, or short-term rental strategies, subject to local regulations and buyer verification. The main residence offers an open-concept layout with soaring ceilings, generous living spaces, two spacious bedrooms, a dedicated den, and a full bathroom on the main level. Thoughtful design details, including oversized live-edge wood window sills, add warmth and character to the modern finishes. Upstairs, the private one-bedroom apartment features an open kitchen and living area, a spacious bedroom with an en-suite full bath, and the same high-end finishes carried throughout the home. Every major system was replaced and structurally enhanced during the 2023 renovation, including electrical, plumbing, windows, kitchens, bathrooms, flooring, fixtures, and finishes. Ask your agent for the complete list! Beautiful tile backsplashes, custom tiled showers, and quality materials throughout create a level of finish seldom found in nearby properties. Situated on a corner lot with valuable off-street parking and a welcoming wraparound porch, you’ll enjoy walkable access to the Ithaca Commons, restaurants, shopping, entertainment, and downtown employers. Even better, the home is located outside the flood zone. For investors, owner-occupants, or even buyers seeking housing with built-in flexibility, this is a truly unique opportunity to own what is essentially a newly constructed property in the heart of downtown Ithaca. Turn key and move in ready.

Listing courtesy of Rio Lange of Keller Williams Realty riolange@kw.com

Listing information is provided by Participants of the Ithaca Board of REALTORS®. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2026, Ithaca Board of REALTORS®
Last checked 2026-08-14 03:47 PM UTC