$274,000
SOLD MAY 16, 2025

563 Spencer Rd Ithaca, NY 14850

Spencer Road Neighborhood
5 Beds
3 Baths
1,911 Sq Ft
0.34 Acres

Recently Sold

$143 Per Sq Ft

9% Below List Price

314 Days on Market

Highlights

  • Property is near public transit
  • Wood Flooring
  • Accessible Bedroom
  • Boynton Middle School Rated A-
  • Ductless Heating Or Cooling System
  • Baseboard Heating

About This Home

As of May 2025

3 Unit Rental Property in the city of Ithaca with strong rental history and long-term tenants. Tenants pay for electric. 2 Units up, 2 units down. Additional unit downstairs is under construction pending city approval. On TCAT Bus route. Motivated seller.

Last Agent to Sell the Property

Christopher Kusznir

Key Brokers License #10491206761 Listed on: 07/03/2024

Last Buyer's Agent

Valerie Newman

Howard Hanna S Tier Inc License #10401301700

Howard Hanna S Tier Inc

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,841

Year Built

  • Built in 1920

Lot Details

  • 0.34 Acre Lot
  • Lot Dimensions are 88x169

Parking

  • 2 Car Garage

Home Design

  • Quadruplex
  • Stone Foundation
  • Frame Construction
  • Metal Roof
  • Vinyl Siding

Interior Spaces

  • 1,911 Sq Ft Home
  • 1-Story Property

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Full Bathrooms

Schools

  • South Hill Elementary School
  • Ithaca Senior High School

Utilities

  • Ductless Heating Or Cooling System
  • Heating System Uses Gas
  • Baseboard Heating
  • Electric Water Heater
  • High Speed Internet

Additional Features

  • Accessible Bedroom
  • Property is near public transit

Listing and Financial Details

  • The owner pays for grounds care, heat, hot water, snow removal, water
  • Tax Lot 3
  • Assessor Parcel Number 500700-125-000-0003-003-000-0000

Community Details

Overview

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

Building Details

  • 4 Separate Electric Meters
  • 1 Separate Gas Meter
  • Operating Expense $15,884
  • Gross Income $45,600
  • Net Operating Income $21,875

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,841

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential
  • Lot Size Acres: 0.3416
  • Lot Size: 88X169
  • Directions: Route 13 to South Meadow St. South Meadow Street to Spencer Rd. Property is on the left heading southbound.
  • Architectural Style: Fourplex
  • Unit Levels: One
  • Building Stories: 1
  • Year Built Details: Existing
  • Year Built: 1920
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 1
  • Year Built: 1920

Interior Features

  • Appliances: Electric Water Heater
  • Owner Pays: Grounds Care, Heat, Hot Water, Snow Removal, Water
  • Accessibility Features: Accessible Bedroom
  • Has Basement: None
  • Basement YN: No
  • Full Bathrooms: 3
  • Total Bedrooms: 5
  • Fireplace: No
  • Flooring: Carpet, Hardwood, Other, See Remarks, Varies
  • Interior Amenities: Bedroom on Main Level
  • Living Area: 1911.0
  • Stories: 1

Exterior Features

  • Lot Features: Near Public Transit
  • Waterfront: No
  • Construction Type: Frame, Vinyl Siding
  • Foundation Details: Stone
  • Property Condition: Resale
  • Roof: Metal

Garage/Parking

  • Parking Features: Gravel, Two or More Spaces

Utilities

  • Cooling: Ductless
  • Cooling Y N: Yes
  • Heating: Ductless, Gas, Baseboard
  • Heating Yn: Yes
  • Sewer: Connected
  • Utilities: 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, Water

Schools

  • Elementary School: South Hill
  • Junior High Dist: Ithaca
  • High School: Ithaca Senior High

Lot Info

  • Lot Size Sq Ft: 14881.0
  • Parcel #: 500700-125-000-0003-003-000-0000
  • Zoning Description: Residential 2 Unit
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units In Community: 3
  • Number Of Units Total: 3
  • Annual Gross Income: 45600.0
  • Property Net Operating Income: 21875.0
  • Annual Operating Expense: 15884.0
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 1

Tax Info

  • Tax Annual Amount: 7841.0
  • Tax Lot: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 24, 2016
Sold by
Corey Stephen
Bought by
Rose Chad
Current Estimated Value
$275,406

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$99,000
Interest Rate
3.65%
Mortgage Type
Unknown
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Deed $107,000 Gartenman Eric
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $75,000 Credit Line Revolving
Open $119,000 Credit Line Revolving
Closed $99,000 Unknown
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/16/2025 05/16/25 Sold $274,000 -2.1% $143 / Sq Ft
05/13/2025 05/13/25 Pending -- -- --
08/20/2024 08/20/24 Price Changed $279,900 -6.7% $146 / Sq Ft
07/03/2024 07/03/24 For Sale $299,900 -- $157 / Sq Ft
Source: Ithaca Board of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $9,176 $275,000 $42,700 $232,300
2023 $5,582 $248,000 $42,700 $205,300
2022 $7,841 $225,000 $42,700 $182,300
2021 $7,420 $200,000 $42,700 $157,300
2020 $4,635 $200,000 $42,700 $157,300
2019 $5,265 $180,000 $42,700 $137,300
2018 $4,389 $180,000 $42,700 $137,300
2017 $4,017 $160,000 $34,600 $125,400
2016 $4,417 $175,000 $34,600 $140,400
2015 -- $135,000 $34,600 $100,400
2014 -- $135,000 $34,600 $100,400
Source: Public Records

Agents Affiliated with this Home

  • Christopher Kusznir

    Seller's Agent in 2025

    Christopher Kusznir

    Key Brokers

    (607) 279-5967

    2 in this area

    21 Total Sales

    Christopher Kusznir
    Section Image

  • V

    Buyer's Agent in 2025

    Valerie Newman

    Howard Hanna S Tier Inc

    (607) 279-8663

    1 in this area

    34 Total Sales

    Valerie Newman
    Section Image
See All Agents

Map

Source: Ithaca Board of REALTORS®

MLS Number: R1549631

APN: 500700-125-000-0003-003-000-0000

New York Tompkins County Ithaca 14850 Spencer Road

563 Spencer Rd, Ithaca, NY

This home is located at 563 Spencer Rd, Ithaca, NY 14850 and is currently priced at $274,000, approximately $143 per square foot. This property was built in 1920. 563 Spencer Rd is a home located in Tompkins County with nearby schools including Fall Creek Elementary School, Boynton Middle School, and Ithaca Senior High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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