$299,000
UNDER CONTRACT $26K PRICE DROP

7 Park Ln Lansing, NY 14882

Estimated payment $2,317/month

Total Views 3,214
7 Beds
3 Baths
2,776 Sq Ft
$108 Price per Sq Ft

Highlights

  • Wood Flooring
  • 1 Fireplace
  • Forced Air Heating System
  • Raymond C. Buckley Elementary School Rated A-
  • Cedar Closet
  • Ceiling Fan

About This Home

Discover an excellent opportunity to own a three-unit investment property, conveniently located near Ithaca, offering all its modern conveniences. Situated on the edge of Myers Park in Lansing, this property includes two 3-bedroom, one full bath apartments and a studio apartment with one bedroom and one full bathroom. Enjoy ample parking and an additional barn area for extra storage. Very close proximity to Lansing schools, Myers Park, and Cayuga Lake. Don't miss out on this wonderful investment opportunity!

Listing Agent

Jordan Jacobsen

Warren Real Estate of Ithaca Inc. Brokerage Phone: 607-339-3206 License #10401218032 Listed on: 04/30/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,165

Year Built

  • Built in 1860

Lot Details

  • 0.49 Acre Lot
  • Lot Dimensions are 102x207
  • Irregular Lot

Parking

  • Common or Shared Parking

Home Design

  • Triplex
  • Stone Foundation
  • Asphalt Roof
  • Wood Siding
  • Copper Plumbing

Interior Spaces

  • 2,776 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • 1 Fireplace
  • Partial Basement

Flooring

  • Wood
  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 7 Bedrooms
  • Cedar Closet
  • 3 Full Bathrooms

Location

  • Flood Zone Lot

Schools

  • Raymond C Buckley Elementary School
  • Lansing Middle School
  • Lansing High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Oil
  • Heating System Uses Propane
  • Baseboard Heating
  • Hot Water Heating System
  • Propane Water Heater
  • Septic Tank
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 71
  • Assessor Parcel Number 503289-033-000-0001-071-000-0000

Community Details

Overview

  • Association fees include gardener, hot water, snow removal, water
  • 3 Units

Building Details

  • 3 Separate Electric Meters
  • Operating Expense $10,218
  • Gross Income $43,480
  • Net Operating Income $25,097

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,165

Year Built

Built in 1860

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential
  • Lot Size Acres: 0.49
  • Lot Size: 102X207
  • Directions: From Ithaca, take Rte 34B North past Lansing School, take a left on Myers Rd and then a right on Park Lane. Red house on left.
  • Architectural Style: Triplex
  • Unit Levels: Two
  • Building Stories: 2
  • Year Built Details: Existing
  • Year Built: 1860
  • ResoBuildingAreaSource: Assessor
  • Attribution Contact: 607-339-3206
  • Special Features: UnderContract
  • Stories: 2
  • Year Built: 1860

Interior Features

  • Appliances: Electric Water Heater, Propane Water Heater
  • Owner Pays: Grounds Care, Hot Water, Snow Removal, Water
  • Has Basement: Partial
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 7
  • Fireplaces: 1
  • Fireplace: Yes
  • Flooring: Carpet, Hardwood, Varies, Vinyl
  • Interior Amenities: Cedar Closet(s), Ceiling Fan(s)
  • Living Area: 2776.0
  • Stories: 2

Exterior Features

  • Lot Features: Flood Zone, Irregular Lot
  • Waterfront: No
  • Construction Type: Wood Siding, Copper Plumbing
  • Foundation Details: Stone
  • Property Condition: Resale
  • Roof: Asphalt

Garage/Parking

  • Parking Features: Common

Utilities

  • Heating: Propane, Oil, Baseboard, Forced Air, Hot Water
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Septic Tank
  • Utilities: Cable Available, High Speed Internet Available, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Senior Community: No
  • HOA Rent Includes: Gardener, Hot Water, Snow Removal, Water

Schools

  • Elementary School: Raymond C Buckley Elementary
  • Junior High Dist: Lansing
  • High School: Lansing High
  • Middle Or Junior School: Lansing Middle

Lot Info

  • Lot Size Sq Ft: 21344.0
  • Parcel #: 503289-033-000-0001-071-000-0000
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units In Community: 3
  • Number Of Units Total: 3
  • Annual Gross Income: 43480.0
  • Property Net Operating Income: 25097.0
  • Annual Operating Expense: 10218.0
  • Number Of Separate Electric Meters: 3

Tax Info

  • Tax Annual Amount: 8165.0
  • Tax Lot: 71

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

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 $7,823 $300,000 $31,700 $268,300
2023 $7,823 $260,000 $31,700 $228,300
2022 $7,488 $236,000 $31,700 $204,300
2021 $7,391 $225,000 $31,700 $193,300
2020 $7,031 $212,000 $31,700 $180,300
2019 $2,509 $212,000 $31,700 $180,300
2018 $6,966 $212,000 $31,700 $180,300
2017 $6,373 $192,000 $33,800 $158,200
2016 $6,338 $192,000 $33,800 $158,200
2015 -- $175,000 $33,800 $141,200
2014 -- $175,000 $33,800 $141,200
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/20/2025 05/20/25 Price Changed $299,000 -8.0% $108 / Sq Ft
04/30/2025 04/30/25 For Sale $325,000 -- $117 / Sq Ft
Source: Ithaca Board of REALTORS®

Purchase History

Date Type Sale Price Title Company
Deed $110,000 Stephen Bowman
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Closed $95,500 Unknown
Source: Public Records

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Source: Ithaca Board of REALTORS®

MLS Number: R1596242

APN: 503289-033-000-0001-071-000-0000

New York Tompkins County Lansing 14882

7 Park Ln, Lansing, NY

This home is located at 7 Park Ln, Lansing, NY 14882 and is currently priced at $299,000, approximately $107 per square foot. This property was built in 1860. 7 Park Ln is a home located in Tompkins County with nearby schools including Raymond C. Buckley Elementary School, Lansing Middle School, and Lansing High School.

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Jordan Jacobsen
Listing Agent
Jordan Jacobsen
Section Image
Warren Real Estate of Ithaca Inc.
(607) 400-7821