R
Seller's Agent in 2025
Rob Armstrong
PPM Homes LLC
(607) 272-1765
5 Total Sales
512 University Ave Ithaca, NY 14850
6
Beds
3
Baths
2,535
Sq Ft
6,090
Sq Ft Lot
Highlights
- Property is near public transit
- Marble Flooring
- Furnished
- Boynton Middle School Rated A-
- Attic
- Baseboard Heating
About This Home
As of January 2025Fantastic real estate investment opportunity beside Cornell's west campus. Route 10 bus line across the street servicing many campus locations and downtown. Future student center planned nearby creating future demand hub. Income for 24/25 leasing period is $70800. Property fully rented since October 2023 for 24/25. Operating expenses for calendar year 2023 were $7631. Assessed property value for 2025 to drop significantly with positive effect to taxes paid. Turnkey rental property with aesthetic improvements needed at buyers discretion. 3 electric meters and 2 gas meters. 1 electric meter services mec room light and radon fan. 2 boilers and 2 hot water heaters. 1 water meter. Furniture carries with property. Hardwood floors throughout.
Last Agent to Sell the Property
PPM Homes LLC License #10401341961 Listed on: 05/24/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $22,325
Year Built
- Built in 1900
Lot Details
- 6,090 Sq Ft Lot
- Lot Dimensions are 42x145
- Rectangular Lot
Parking
- On-Street Parking
Home Design
- Duplex
- Stone Foundation
- Asphalt Roof
- Wood Siding
- Radon Mitigation System
Interior Spaces
- 2,535 Sq Ft Home
- 2-Story Property
- Furnished
- Washer Hookup
- Attic
Flooring
- Wood
- Marble
Bedrooms and Bathrooms
- 6 Bedrooms
- 3 Full Bathrooms
Basement
- Walk-Out Basement
- Partial Basement
Location
- Property is near public transit
Schools
- Fall Creek Elementary School
Utilities
- Heating System Uses Gas
- Baseboard Heating
- Gas Water Heater
Listing and Financial Details
- Tax Lot 1
- Assessor Parcel Number 500700-032-000-0001-001-000-0000
Community Details
Overview
- Association fees include common area maintenance, snow removal, water
- 2 Units
- Section 341 Subdivision
Building Details
- Net Operating Income $40,844
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/17/2025 01/17/25 | Sold | $570,000 | -4.2% | $225 / Sq Ft | |
| 05/24/2024 05/24/24 | For Sale | $595,000 | +6.4% | $235 / Sq Ft | |
| 11/20/2018 11/20/18 | Sold | $559,000 | -3.6% | $284 / Sq Ft | View Prior Sale |
| 10/21/2018 10/21/18 | Pending | -- | -- | -- | |
| 04/16/2018 04/16/18 | For Sale | $579,999 | +70.6% | $295 / Sq Ft | |
| 10/18/2012 10/18/12 | Sold | $339,900 | +3.0% | $173 / Sq Ft | View Prior Sale |
| 09/18/2012 09/18/12 | Pending | -- | -- | -- | |
| 01/01/1800 01/01/00 | For Sale | $330,000 | -- | $168 / Sq Ft |
Source: Ithaca Board of REALTORS®
Tax History Compared to Growth
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 | $10,043 | $500,000 | $53,000 | $447,000 |
| 2023 | $14,025 | $640,000 | $53,000 | $587,000 |
| 2022 | $22,177 | $640,000 | $53,000 | $587,000 |
| 2021 | $21,672 | $610,000 | $53,000 | $557,000 |
| 2020 | $13,774 | $610,000 | $53,000 | $557,000 |
| 2019 | $3,260 | $550,000 | $53,000 | $497,000 |
| 2018 | $9,306 | $390,000 | $53,000 | $337,000 |
| 2017 | $7,387 | $300,000 | $53,000 | $247,000 |
| 2016 | $7,455 | $300,000 | $53,000 | $247,000 |
| 2015 | -- | $260,000 | $53,000 | $207,000 |
| 2014 | -- | $260,000 | $53,000 | $207,000 |
Source: Public Records
Agents Affiliated with this Home
-
Rob Armstrong
-
Garrett Venuto
Buyer's Agent in 2025
Garrett Venuto
Warren Real Estate of Ithaca Inc.
(607) 592-1762
60 Total Sales
-
Ryan Mitchell
Seller's Agent in 2018
Ryan Mitchell
Warren Real Estate of Ithaca Inc. (Downtown)
(607) 591-0507
52 Total Sales
-
Claudia Lagalla
Buyer's Agent in 2018
Claudia Lagalla
Howard Hanna S Tier Inc
(607) 342-3749
125 Total Sales
-
D
Seller's Agent in 2012
David Irish
Howard Hanna S Tier Inc
Map
Source: Ithaca Board of REALTORS®
MLS Number: R1540647
APN: 500700 32.-1-1
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