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

$295,000


6

Beds


Bath


6,261

Sq Ft


Multi-Family


Virtual Tour

Active

Listed by

Ryan O'Mara

Hunt Real Estate ERA

315-363-5533

Last updated:

August 14, 2026, 02:57 PM

MLS#

S1699220

Source:

NY GENRIS

About This Home

8991 Morris Rd. Ext.route 31

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.

Home Facts

Multi-Family

6 Bedrooms

Built in 1930

Subdivision & Development:

Oneida Crk

Price Summary

295,000

$47 per Sq. Ft.

MLS #:

S1699220

Last Updated:

August 14, 2026, 02:57 PM

Added:

a month ago


Rooms & Interior

Bedrooms

Total Bedrooms:

6

Interior

Living Area:

6,261 Sq. Ft.


Structure

Structure

Building Area:

6,261 Sq. Ft.

Year Built:

1930


Lot

Lot Size (Sq. Ft):

22,216


Finances & Disclosures

Finances

Price:

$295,000

Price per Sq. Ft:

$47 per Sq. Ft.

Source:NY GENRIS
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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.