$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

0.34 Acres

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
$268,237

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
Outstanding Balance
$78,358
Interest Rate
3.65%
Mortgage Type
Unknown
Estimated Equity
$189,879
Source: Public Records
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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 $99,000 Unknown
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
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

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 $5,634 $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

    18 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

    33 Total Sales

    Valerie Newman
    Section Image
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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

Sold

MultiFamily

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