202 Lake St Ithaca, NY 14850
Estimated payment $4,579/month
Highlights
- Deck
- Corner Lot
- Window Unit Cooling System
- Boynton Middle School Rated A-
- Furnished
- 4-minute walk to Ithaca Falls Natural Area
About This Home
Well-maintained 3-unit property that has been thoughtfully cared for and successfully operated as a rental. The building is in good condition with a strong rental history, offering a solid opportunity for investors seeking stable income. Each unit has been well maintained, allowing for continued rental use with minimal immediate work required. The property includes a washer and dryer located in the basement with access available to all tenants. A current Certificate of Compliance is in place. This property also presents an excellent option for an owner-occupant to live in one unit while renting the others to help offset expenses and supplement income. Conveniently located near downtown, shopping, dining, and public transportation, this multi-unit property offers both long-term value and flexibility. A rare opportunity to own a quality income-producing property in a desirable Ithaca location.
Listing Agent
Berkshire Hathaway HomeServices Heritage Realty Brokerage Phone: 607-428-0708 License #10401389595 Listed on: 02/07/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $17,065
Year Built
- Built in 1870
Lot Details
- 7,841 Sq Ft Lot
- Lot Dimensions are 44x117
- Corner Lot
- Irregular Lot
Home Design
- Triplex
- Block Foundation
- Stone Foundation
- Asphalt Roof
- Vinyl Siding
- Copper Plumbing
Interior Spaces
- 1,704 Sq Ft Home
- 2-Story Property
- Furnished
Flooring
- Laminate
- Tile
- Luxury Vinyl Tile
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Full Bathrooms
Basement
- Walk-Out Basement
- Basement Fills Entire Space Under The House
Parking
- 2 Car Garage
- Common or Shared Parking
Schools
- Fall Creek Elementary School
- Boynton Middle School
Utilities
- Window Unit Cooling System
- Forced Air Heating System
- Heating System Uses Gas
- PEX Plumbing
- Gas Water Heater
Additional Features
- Accessible Doors
- Deck
Listing and Financial Details
- Tax Lot 7
- Assessor Parcel Number 500700-028-000-0004-007-000-0000
Community Details
Overview
- Association fees include common area maintenance, gardener, snow removal, trash collection, water
- 3 Units
- Section 28 Subdivision
Building Details
- 4 Separate Electric Meters
- 1 Separate Gas Meter
- Gross Income $54,195
Map
Tax History
| 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 |
|---|---|---|---|---|
| 2024 | $7,299 | $360,000 | $51,000 | $309,000 |
| 2023 | $7,994 | $360,000 | $51,000 | $309,000 |
| 2022 | $12,720 | $360,000 | $51,000 | $309,000 |
| 2021 | $12,384 | $340,000 | $51,000 | $289,000 |
| 2020 | $7,905 | $340,000 | $51,000 | $289,000 |
| 2019 | $9,735 | $330,000 | $51,000 | $279,000 |
| 2018 | $7,901 | $330,000 | $51,000 | $279,000 |
| 2017 | $7,387 | $300,000 | $51,000 | $249,000 |
| 2016 | $7,455 | $300,000 | $51,000 | $249,000 |
| 2015 | -- | $300,000 | $51,000 | $249,000 |
| 2014 | -- | $225,000 | $51,000 | $174,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/07/2026 02/07/26 | For Sale | $595,000 | +43.4% | $349 / Sq Ft | |
| 04/29/2022 04/29/22 | Sold | $415,000 | -2.4% | $244 / Sq Ft | View Prior Sale |
| 03/30/2022 03/30/22 | Pending | -- | -- | -- | |
| 01/03/2022 01/03/22 | For Sale | $425,000 | +28.8% | $249 / Sq Ft | |
| 09/11/2014 09/11/14 | Sold | $330,000 | +6.5% | $194 / Sq Ft | View Prior Sale |
| 08/12/2014 08/12/14 | Pending | -- | -- | -- | |
| 01/01/1800 01/01/00 | For Sale | $310,000 | -- | $182 / Sq Ft |
Source: Ithaca Board of REALTORS®
MLS Number: R1661476
APN: 500700 28.-4-7
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Ask me questions while you tour the home.