505 Dryden Rd Ithaca, NY 14850
Bryant Park and Belle Sherman NeighborhoodEstimated payment $7,444/month
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
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
Map
Home Values in the Area
Average Home Value in this Area
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 | $13,177 | $660,000 | $80,000 | $580,000 |
| 2023 | $14,455 | $660,000 | $80,000 | $580,000 |
| 2022 | $22,982 | $660,000 | $80,000 | $580,000 |
| 2021 | $22,477 | $630,000 | $80,000 | $550,000 |
| 2020 | $14,232 | $630,000 | $80,000 | $550,000 |
| 2019 | $16,360 | $570,000 | $80,000 | $490,000 |
| 2018 | $13,521 | $570,000 | $80,000 | $490,000 |
| 2017 | $12,563 | $515,000 | $50,000 | $465,000 |
| 2016 | $12,679 | $515,000 | $50,000 | $465,000 |
| 2015 | -- | $515,000 | $50,000 | $465,000 |
| 2014 | -- | $515,000 | $50,000 | $465,000 |
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®
MLS Number: R1626678
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