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**Now offered at an actual 12% cap rate!!** This charming Lansing multifamily has been fully renovated and optimized for short- and mid-term rental, and had a gross income of $126,708 in 2025. This STR operation is entirely turnkey, from listings to advertising to management and cleaning. Guests love the proximity to Myer's Park and the convenience of shopping and restaurants. The main unit has a fireplace, bright and airy layout, a fully updated kitchen with bar seating and open dining area, and covered raised deck. The lower unit has a second luxurious fireplace, a walkout covered patio, truly open kitchen and living space, and cozy bedrooms. Both units are furnished down to the silverware in mid-century modern style, with custom lighting and fixtures. The house is a legal three-unit, but is currently utilizing two. Contact agent for OM and financial information- this one is performing at an actual 12% cap rate!

Highlights

  • Residential
  • Multi Family
  • Built in 1966
  • 0.77 Acre Lot
  • 1 Car Garage
  • 201 days on Market

  • Bedrooms
    6
  • Bathrooms
    4
  • Year Built
    1966
  • Stories
    2.0
  • Architectural Style
    Triplex
  • Construction Materials
    Frame, Vinyl Siding
  • Foundation
    Slab
  • Garage Spaces
    1.0
  • Parking Features
    Gravel, Paved, Garage
  • Living Area
    2832.0
  • Interior Features
    Sauna
  • Appliances
    Gas Water Heater
  • Flooring
    Hardwood, Laminate, Tile, Varies
  • Exterior Features
    Balcony, Private Yard
  • Patio And Porch
    Patio, Deck
  • Cooling
    Ductless
  • Heating
    Ductless, Natural Gas, Baseboard, Hot Water

  • Acres
    0.77
  • Lot Features
    Irregular Lot, Other, See Remarks
  • Utilities
    Cable Available
  • Water
    Private, Well

  • Area
    Lansing-503289
  • County
    Tompkins
  • City
    Lansing
  • Neighborhood
    Ridge Road Sec 35
  • Zip Code
    14882

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Frequently Asked Questions

How do I schedule a tour of 163 Ridge Rd?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 163 Ridge Rd.

They know residentials in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 163 Ridge Rd?

Click Ask a Question to talk with our team. You already know it is a 6 bed, 4 bath, listed for $599,000. We can talk through recent upgrades, potential seller motivation, how this multi family compares to others in Lansing, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 163 Ridge Rd?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 163 Ridge Rd at around $4,074. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 163 Ridge Rd?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Tompkins County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 163 Ridge Rd?

In most cases, yes. Whether 163 Ridge Rd is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Lansing's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 163 Ridge Rd?

We can handle that for you. Our preferred local agent specializes in residentials in Lansing and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $599,000 with 2,832 sqft of space—that comes out to approximately $212 per square foot.

How long has this property been on the market?

163 Ridge Rd was listed on April 28, 2026, which means it's been on the market for 201 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 1966, making it approximately 60 years old.

What is the lot size of this property?

163 Ridge Rd sits on a 0.77-acre lot, which is 33,541 square feet.

What are the property taxes for 163 Ridge Rd?

The most recent public record shows annual property taxes for 163 Ridge Rd were approximately $7,984. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.

Is 163 Ridge Rd still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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Listing information 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. Information deemed reliable but not guaranteed by the MLS. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Copyright 2026, Central New York Information Services. All rights reserved.

Last Updated: November 15, 2026 at 03:34PM | Source: Central New York Information Services | MLS#: S1677371