NOT LISTED FOR SALE
Studio
-- Bath
4,968 Sq Ft
4.57 Acre Lot

Sale Details

Date Sold: August 25, 2022

Last sale price $850,000 $171 Per Sq Ft

110 Days on Market

Highlights

  • 4.57 Acre Lot
  • Humidifier
  • 2 Car Garage
  • DeWitt Middle School Rated A-
  • Baseboard Heating

About This Home

As of August 2022

Incredible investment opportunity awaits the right buyer. Current building has been well maintained and features two 3 bedroom and two 2 bedroom units- all with full basements. With a total of 4.57 acres, this property could be expanded upon significantly. The hamlet of Varna features all municipal services with water, sewer and natural gas and sits just 2 miles from Cornell University. This property consistently has a line of tenants waiting for units to open up. Each one is spacious with open kitchens, large bedrooms, private decks and a large back yard surrounded by woods. Large garage/barn is the perfect place to store tools and equipment. With ample parking for all this building offers a unique mix of an income producing asset and highly sought after land that is prime for development. New roof, windows, decks, gutters & downspouts and exterior paint in 2021!

Last Agent to Sell the Property

Kyle Steele

Howard Hanna S Tier Inc Brokerage Email: kyle.steele@me.com License #10301200763 Listed on: 04/07/2022

Howard Hanna S Tier Inc

Last Buyer's Agent

Emily Doyle

Warren Real Estate of Ithaca Inc. (Downtown) License #10401250591

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,592

Year Built

  • Built in 1990

Lot Details

  • 4.57 Acre Lot

Home Design

  • 4,968 Sq Ft Home
  • Poured Concrete
  • Frame Construction
  • Metal Roof

Kitchen

  • Electric Oven
  • Electric Range
  • Range Hood
  • Recirculated Exhaust Fan
  • Dishwasher

Laundry

  • Dryer
  • Washer

Basement

  • Basement Fills Entire Space Under The House
  • Crawl Space

Parking

  • 2 Car Garage
  • Parking Available
  • On-Street Parking
  • Off-Site Parking

Schools

  • Caroline Elementary School

Utilities

  • Humidifier
  • Baseboard Heating

Community Details

  • 4 Units
  • Gross Income $72,900

Listing and Financial Details

  • Tenant pays for electricity
  • Assessor Parcel Number 55.-1-15.2

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,592

Year Built

Built in 1990

Lot Details

4.57 Acres

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential
  • Lot Size Acres: 4.57
  • Directions: 366 past Fox bridge. Driveway will be on your right.
  • Garage Yn: Yes
  • Year Built: 1990
  • Attribution Contact: kyle.steele@me.com
  • Special Features: VirtualTour

Interior Features

  • Furnished: Unfurnished
  • Appliances: Dryer, Dishwasher, Exhaust Fan, Electric Oven, Electric Range, Refrigerator, Range Hood, Washer, Humidifier
  • Has Basement: Crawl Space, Full
  • Basement YN: Yes
  • Living Area: 4968.0

Exterior Features

  • Construction Type: Frame
  • Foundation Details: Poured
  • Roof: Metal

Garage/Parking

  • Parking Features: Concrete, Garage, Off Site, Other, Parking Available, One Space, On Street, See Remarks, Two or More Spaces

Utilities

  • Heating: Electric, Baseboard
  • Heating Yn: Yes
  • Sewer: Connected
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public

Schools

  • Elementary School: Caroline Elementary
  • Junior High Dist: Ithaca

Lot Info

  • Lot Size Sq Ft: 199069.0
  • Parcel #: 55.-1-15.2

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Number Of Units In Community: 4
  • Number Of Units Total: 4
  • Annual Gross Income: 72900.0

Tax Info

  • Tax Annual Amount: 11592.0

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 29, 2023
Sold by
Bought by

Purchase Details

Listed on
Apr 7, 2022
Closed on
Jul 20, 2022
Sold by
Bought by
Seller's Agent
Kyle Steele
Howard Hanna S Tier Inc
Buyer's Agent
Emily Doyle
Warren Real Estate of Ithaca Inc. (Downtown)
List Price
$925,000
Sold Price
$850,000
Premium/Discount to List
-$75,000
-8.11%

Purchase Details

Closed on
Jul 29, 2004
Sold by
Bought by

Purchase Details

Closed on
Jul 25, 2000
Sold by
Bought by

Purchase Details

Closed on
Jul 18, 1997
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- None Available
$850,000 None Available
$119,000 Don R Crittenden
-- Reizes Leslie N
$85,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Closed $280,891
Closed $222,766
Closed $238,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
08/25/2022 08/25/22 Sold $850,000 -8.1% $171 / Sq Ft
07/26/2022 07/26/22 Pending -- -- --
04/07/2022 04/07/22 For Sale $925,000 -- $186 / Sq Ft
Source: Ithaca Board of REALTORS®

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 -- $545,000 $50,000 $495,000
2024 $13,722 $545,000 $50,000 $495,000
2023 $9,799 $350,000 $50,000 $300,000
2022 $9,819 $350,000 $50,000 $300,000
2021 $9,651 $340,000 $50,000 $290,000
2020 $11,156 $340,000 $50,000 $290,000
2019 $5,516 $340,000 $50,000 $290,000
2018 $12,148 $340,000 $50,000 $290,000
2017 $11,714 $325,000 $50,000 $275,000
2016 $10,866 $325,000 $50,000 $275,000
2015 -- $309,000 $50,000 $259,000
2014 -- $309,000 $50,000 $259,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Ithaca Board of REALTORS®

MLS Number: IB406351

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