$649,000
$100K PRICE DROP

937 E State St Ithaca, NY 14850

Estimated payment $5,156/month

Total Views 51,096
7 Beds
3 Baths
1,920 Sq Ft
$338 Price per Sq Ft

Highlights

  • Deck
  • Wood Flooring
  • 2 Fireplaces
  • DeWitt Middle School Rated A-
  • Attic
  • Patio

About This Home

Rare Investment Opportunity Near Cornell University – Two Homes on One Parcel at 937 State Street Discover a unique and versatile property offering two separate homes on a single parcel in a prime, walk-to-campus Ithaca location. Ideal for investors, owner-occupants, or multi-generational living, this fully utilized property provides flexibility, strong rental appeal, and long-term upside. The main residence is a well-maintained ranch-style home featuring three bedrooms, a spacious living room with a fireplace, an eat-in kitchen, and an enclosed porch with washer and dryer hookups. A bonus open-concept second floor with a full bath and private entrance offers excellent potential for additional living space or rental income. An attached one-bay garage and ample storage complete the home. Also included is a separate two-story residence with two well-maintained 2-bedroom, 1-bath units. The lower unit showcases hardwood floors, a wood-burning fireplace, and abundant natural light, while the upper unit offers a comfortable and functional layout ideal for tenants or guests. Conveniently located near campus, downtown Ithaca, shopping, dining, and public transportation, this property presents a compelling opportunity to live in one unit while renting the others or to add a high-demand, income-producing asset to your portfolio. A rare offering in an irreplaceable location—don’t miss the opportunity to explore the many possibilities at 937 State Street.

Listing Agent

Jill Burlington

Warren Real Estate of Ithaca Inc. Brokerage Phone: 607-592-0474 License #30BU0950986 Listed on: 03/18/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,542

Year Built

  • Built in 1900

Lot Details

  • Lot Dimensions are 90x191
  • Rectangular Lot
  • 89.-3-5.2

Parking

  • 1 Car Garage

Home Design

  • Triplex
  • Stone Foundation
  • Poured Concrete
  • Metal Roof
  • Wood Siding

Interior Spaces

  • 1,920 Sq Ft Home
  • 2-Story Property
  • 2 Fireplaces
  • Attic

Flooring

  • Wood
  • Laminate
  • Ceramic Tile
  • Vinyl

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 3 Full Bathrooms

Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Partial Basement

Outdoor Features

  • Deck
  • Patio

Schools

  • Belle Sherman Elementary School

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas
  • Hot Water Heating System
  • Gas Water Heater

Listing and Financial Details

  • Assessor Parcel Number 89.-3-12

Community Details

Overview

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

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • Operating Expense $33,342
  • Gross Income $61,200
  • Net Operating Income $7,316

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,542

Year Built

Built in 1900

Lot Details

0

Parking

1

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential
  • Lot Size: 90X191
  • Road Frontage Type: Main Thoroughfare
  • Directions: Head down S. Meadow Street, turn right onto W. Green Street, keep straight onto Route 79. Destination is on your right.
  • Architectural Style: Triplex
  • Garage Yn: Yes
  • Unit Levels: Two
  • Building Stories: 2
  • Year Built Details: Existing
  • Year Built: 1900
  • Attribution Contact: 607-592-0474
  • Special Features: None
  • Stories: 2
  • Year Built: 1900

Interior Features

  • Appliances: Gas Water Heater
  • Owner Pays: Electricity, Gas, Grounds Care, Heat, Hot Water, Snow Removal, Water
  • Has Basement: Full, Partial, Walk-Out Access
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 7
  • Fireplaces: 2
  • Fireplace: Yes
  • Flooring: Ceramic Tile, Hardwood, Laminate, Varies, Vinyl
  • Interior Amenities: Attic
  • Living Area: 1920.0
  • Stories: 2

Exterior Features

  • Lot Features: Rectangular, Rectangular Lot
  • Waterfront: No
  • Construction Type: Wood Siding
  • Exterior Features: Deck, Patio
  • Foundation Details: Poured, Stone
  • Patio And Porch Features: Deck, Patio
  • Property Condition: Resale
  • Roof: Metal

Garage/Parking

  • Garage Spaces: 1.0
  • Parking Features: Garage, Paved, Two or More Spaces

Utilities

  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Gas, Forced Air, Hot Water
  • Heating Yn: Yes
  • Sewer: Connected
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

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

Schools

  • Elementary School: Belle Sherman
  • Junior High Dist: Ithaca

Lot Info

  • Additional Parcels Description: 89.-3-5.2
  • Parcel #: 89.-3-12
  • Zoning Description: Residential 1 Unit

Multi Family

  • Number Of Units In Community: 3
  • Number Of Units Total: 3
  • Annual Gross Income: 61200.0
  • Property Net Operating Income: 7316.0
  • Annual Operating Expense: 33342.0
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2

Tax Info

  • Tax Annual Amount: 20542.0

Map

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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 $12,981 $650,000 $127,600 $522,400
2023 $12,930 $616,000 $127,600 $488,400
2022 $18,641 $570,000 $127,600 $442,400
2021 $17,799 $520,000 $127,600 $392,400
2020 $11,151 $520,000 $127,600 $392,400
2019 $12,651 $465,000 $127,600 $337,400
2018 $10,449 $465,000 $127,600 $337,400
2017 $9,890 $430,000 $62,300 $367,700
2016 $9,984 $430,000 $62,300 $367,700
2015 -- $410,000 $62,300 $347,700
2014 -- $410,000 $62,300 $347,700
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/09/2025 12/09/25 Price Changed $649,000 -7.2% $338 / Sq Ft
10/25/2025 10/25/25 Off Market $699,000 -- --
10/20/2025 10/20/25 Price Changed $699,000 0.0% $364 / Sq Ft
10/20/2025 10/20/25 For Sale $699,000 -6.7% $364 / Sq Ft
03/18/2025 03/18/25 For Sale $749,000 -- $390 / Sq Ft
Source: Ithaca Board of REALTORS®

Source: Ithaca Board of REALTORS®

MLS Number: R1585487

APN: 500700 89.-3-12