505 Dryden Rd Ithaca, NY 14850
Bryant Park and Belle Sherman NeighborhoodEstimated payment $7,288/month
Highlights
- Property is near public transit
- Wood Flooring
- Woodwork
- DeWitt Middle School Rated A-
- Furnished
- Zoned Heating and Cooling
About This Home
Located in the heart of Collegetown, 505 Dryden Road is a premier multi-family residence perfectly positioned for students and professionals. This high-performing asset features multiple rental units and sits on a generous lot with eight coveted off-street parking spaces.
Investors will appreciate the property's exceptional track record, boasting consistent 100% occupancy and steadily increasing gross revenues. Its prime location offers unrivaled safety and convenience, providing tenants with seamless access to the Cornell University campus, local amenities, and public transit. This is a rare opportunity to acquire a turnkey, profitable building in Ithaca’s most desirable rental market.
Listing Agent
Warren Real Estate of Ithaca Inc. (Downtown) Brokerage Phone: 607-227-3132 License #10371201153 Listed on: 04/03/2026
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 |
|---|---|---|---|---|
| 2025 | $13,177 | $660,000 | $80,000 | $580,000 |
| 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 |
|---|---|---|---|---|
| 04/03/2026 04/03/26 | For Sale | $1,000,000 | 0.0% | $232 / 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: R1670708
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Ask me questions while you tour the home.