$1,050,000
$50K PRICE DROP

Estimated payment $7,504/month

Total Views 83,861
11 Beds
3 Baths
4,318 Sq Ft
$243 Price per Sq Ft

Highlights

  • Property is near public transit
  • Wood Flooring
  • Woodwork
  • DeWitt Middle School Rated A-
  • Furnished
  • Zoned Heating and Cooling

About This Home

Nestled in the vibrant heart of Collegetown, this exceptional multi-family property presents a rare opportunity for investors and Cornell University affiliates alike. Featuring an impressive 11 bedrooms and 3 bathrooms, this spacious residence offers tremendous potential for rental income in one of Ithaca's most sought-after locations. Just steps away from GreenStar Food Co op, residents enjoy convenient access to fresh, local groceries without the hassle of a long commute. Nature enthusiasts will appreciate being less than a 10-minute walk from Six Mile Creek Natural Area, where scenic trails and peaceful waterways provide the perfect escape from academic pressures. The property's prime location places Cornell University's campus within easy reach—ideal for students, faculty, and staff looking to minimize their daily commute. Meanwhile, East Hill Plaza offers nearby shopping amenities for everyday needs. This well-positioned investment property combines the perfect blend of accessibility to campus life while maintaining enough distance to ensure peaceful living. The spacious layout accommodates multiple residents comfortably, with common areas that encourage community while private bedrooms offer necessary quiet spaces for studying. Property provides strong returns in Ithaca's robust rental market. With Cornell's consistent demand for quality off-campus housing, this property represents not just a purchase but a strategic investment in one of America's most stable college town markets. Ready to expand your real estate portfolio with this exceptional multi-family opportunity? Contact us today to schedule a viewing!

Listing Agent

David Wahl

Warren Real Estate of Ithaca Inc. (Downtown) Brokerage Phone: 607-227-3132 License #10371201153 Listed on: 08/03/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $23,836

Year Built

  • Built in 1900

Lot Details

  • 871 Sq Ft Lot
  • Lot Dimensions are 80x90
  • Rectangular Lot

Parking

  • 2 Car Garage

Home Design

  • Triplex
  • Stone Foundation
  • Asphalt Roof
  • Wood Siding

Interior Spaces

  • 4,318 Sq Ft Home
  • 4-Story Property
  • Furnished
  • Woodwork
  • Partially Finished Basement
  • Basement Fills Entire Space Under The House

Flooring

  • Wood
  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 3 Full Bathrooms

Location

  • Property is near public transit

Schools

  • Belle Sherman Elementary School
  • Dewitt Middle School
  • Ithaca Senior High School

Utilities

  • Zoned Heating and Cooling
  • Heating System Uses Gas
  • Baseboard Heating
  • Hot Water Heating System
  • Gas Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 500700-064-000-0006-003-000-0000

Community Details

Overview

  • Association fees include common area maintenance, gardener, heat, hot water, snow removal
  • 3 Units

Building Details

  • 4 Separate Electric Meters
  • 1 Separate Gas Meter
  • Operating Expense $34,517
  • Gross Income $123,940
  • Net Operating Income $65,587

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$23,836

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential
  • Lot Size Acres: 0.02
  • Lot Size: 80X90
  • Road Frontage Type: City Street
  • Architectural Style: Triplex
  • Building Stories: 4
  • Year Built Details: Existing
  • Year Built: 1900
  • Attribution Contact: 607-227-3132
  • Special Features: None
  • Stories: 4
  • Year Built: 1900

Interior Features

  • Furnished: Furnished
  • Appliances: Gas Water Heater
  • Owner Pays: Gas, Grounds Care, Heat, Hot Water, Snow Removal
  • Has Basement: Full, Partially Finished
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 11
  • Fireplace: No
  • Flooring: Hardwood, Laminate, Varies, Vinyl
  • Interior Amenities: Natural Woodwork
  • Living Area: 4318.0
  • Stories: 4

Exterior Features

  • Lot Features: Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
  • Waterfront: No
  • Construction Type: Wood Siding
  • Foundation Details: Stone
  • Property Condition: Resale
  • Roof: Asphalt

Garage/Parking

  • Parking Features: Other, See Remarks, Two or More Spaces

Utilities

  • Cooling: Zoned
  • Heating: Gas, Zoned, Baseboard, Hot Water
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Connected
  • Utilities: Cable Available, High Speed Internet Available, Sewer Connected, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Senior Community: No
  • HOA Rent Includes: Common Area Maintenance, Gardener, Heat, Hot Water, Snow Removal

Schools

  • Elementary School: Belle Sherman
  • Junior High Dist: Ithaca
  • High School: Ithaca Senior High
  • Middle Or Junior School: Dewitt Middle

Lot Info

  • Parcel #: 500700-064-000-0006-003-000-0000
  • Zoning Description: Residential Multi Use

Multi Family

  • Number Of Units In Community: 3
  • Number Of Units Total: 3
  • Annual Gross Income: 123940.0
  • Property Net Operating Income: 65587.0
  • Annual Operating Expense: 34517.0
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 1

Tax Info

  • Tax Annual Amount: 23836.0

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/17/2025 10/17/25 Price Changed $1,050,000 -4.5% $243 / Sq Ft
08/03/2025 08/03/25 For Sale $1,100,000 0.0% $255 / Sq Ft
06/05/2025 06/05/25 For Rent $850 0.0% --
02/10/2025 02/10/25 Off Market $850 -- --
01/23/2025 01/23/25 For Rent -- -- --
10/08/2024 10/08/24 Off Market $850 -- --
Source: Ithaca Board of REALTORS®

Source: Ithaca Board of REALTORS®

MLS Number: R1626678