Address
512 University Avenue, Ithaca-City, NY
Price
$ 595,000
Property Attributes
  • MLS#R1540647
  • TypeSingle Family
  • CountyTOMPKINS
  • CityIthaca-City
  • AreaIthaca-City
  • NeighborhoodSection 341
  • Zip14850
  • StyleDuplex
  • Year Built1900
  • Taxes$ 22325
  • Price$ 595,000
  • Bedrooms6
  • Full Bathrooms3
  • Half Bathrooms0
  • Sqr Footage2535
  • Lot Size0.1398 Acres
Data Source:
Greater Rochester AOR (GRAR)
Property Description

Fantastic 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. Expenses for calendar year 2023 were $29958. 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.

Elementary School
Fall Creek Elementary
Price History
5/24/2024 Listed $595,000

General Features

Interior Features Attic
Sewer Connected
Heating Gas,Baseboard
Utilities SewerConnected,WaterConnected
Possession CloseOfEscrow
Roof Asphalt
Appliances GasWaterHeater
Garage Spaces 0.0
Architectural Style Duplex
Security Features RadonMitigationSystem
Construction Materials WoodSiding
Year Built 1900
Township Not Applicable
Property SubType Duplex
County Tompkins
Net Operating Income 18517.0
Property Type Residential
Subdivision Name Section 341
Rent Includes CommonAreaMaintenance,SnowRemoval,Water
Status Active
Directions None
City Ithaca-City
Senior Community Y/N No
High School District Ithaca
NumberOfUnitsTotal 2
MLS Area Ithaca-City-500700
Lot Size Units Acres
Lot Size Square Feet 6090.0
Waterfront Y/N No
Elementary School Fall Creek Elementary
Year Built Details Existing
Tax Annual Amount 22325.0
Property Condition Resale
Structure Type Duplex
Standard Status Active
Middle/Junior School District Ithaca
Elementary School District Ithaca
Tax Assessed Value 640000
TaxOtherAnnualAssessmentAmount 0.0
Tax Lot 1
Property Sub Type Additional Duplex

Interior Features

Basement Partial,WalkOutAccess
Flooring Hardwood,Marble,Varies
Furnished Y/N Furnished
Total Stories 2
Basement (Y/N) Yes
Heating Y/N Yes
Fireplace Y/N No
Full Baths 3
Laundry Features WasherHookup
Total Bedrooms 6
Total Baths 3

Exterior Features

Parking Features OnStreet
Lot Features NearPublicTransit,Rectangular,ResidentialLot
Water Source Connected,Public
Lot Size Area 0.1398
Foundation Details Stone
Building Area Total 2535.0
Lot Dimensions 42X145
Lot Size Acres 0.1398
Road Frontage Type CityStreet

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Single Family Average in 14850

Price
AVG $680K
$600K
Taxes
AVG $14,563
$22,325
Visits
AVG 97
55
Data Provided by Inside Real Estate®
Year Built
AVG 1957
1900
Fair Housing Icon NY Fair Housing Notice