918 Danby Rd Unit 1-2 · South Hill, NY 14850

$495,000

8 bd · 3.6 ba · 2,859 sqft · MultiFamily · 174 Days on market

Built 1938 Fair condition 0.50 ac lot $173/sqft · 40% below area Est $829k · 40% under ↓ 27% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• Schools +5.4/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

LOCATION! LOCATION! Conveniently walking distance to Ithaca College. 1 mile from downtown Ithaca, this property is located at 918 Danby Road, in the town of Ithaca, NY. This 2 Family property consists of 2 four-bedroom units set back from the road with plenty of open space. One two-story 4-bedroom apartment and one 3-story apartment. Right next to campus and close to downtown Ithaca. Easy walk to campus & downtown Ithaca. Separate electric and natural gas meters.

Key facts

• Plenty of open space
• Two family property
• 0.5 acre lot

Tags

• LOCATED AT 918 DANBY ROAD
• TWO FAMILY PROPERTY
• PLENTY OF OPEN SPACE
• CLOSE TO DOWNTOWN ITHACA

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.8-bath units multifamily listed at $495k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $619/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $495k).
• Recommended offer: $436k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#471 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: schools C-, crime D+, cost of living D+.
• Ithaca City School District (urban): math 57% / reading 71% proficiency, ranked #195 of 590 in NY (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.2%/yr); 327 active listings in the ZIP; 382 units permitted in Tompkins County in 2024 (208 in 5+ unit buildings).
• At $5,897/mo this rent would consume 99% of the median local household income ($71k/yr) (locally 5169% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Tompkins County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $139k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($436k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $435,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.72%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (median comp): $828,696
• List price: $495,000
• Delta: -40.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
924 Danby Rd	0.07mi	8/3.0	2,640 (-8%)	5mo	$425,000	$161	78

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.22% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.09×
• Total profit: $12,177
• Equity at exit: $73,806

10-year hold

• IRR: 13.9%
• Equity multiple: 2.23×
• Total profit: $170,295
• Equity at exit: $42,799

Cash invested: $138,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14850

• Rents YoY: 5.2%
• Active inventory: 327
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $5,897 medium
• Mortgage (P&I): −$2,596
• Tax est. 1.5%: −$619 /mo · $7,425/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,238
• Net cashflow: $1,238

Break-even live

Break-even rent $4,330

Max offer price $495,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,580	-5% $1,409	+0% $1,238	+5% $1,067	+10% $896
Rent	-10% $772	-5% $1,005	+0% $1,238	+5% $1,471	+10% $1,704
Rate	-1.0pp $1,487	-0.5pp $1,364	base $1,238	+0.5pp $1,110	+1.0pp $979

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.8	$5,898
Total (2 units)			$5,897

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $495,000 Active 174 DOM
2. 2026-06-18
   days on market $495,000 Active 173 DOM
3. 2026-06-17
   days on market $495,000 Active 172 DOM
4. 2026-06-16
   days on market $495,000 Active 171 DOM
5. 2026-06-15
   days on market $495,000 Active 170 DOM
6. 2026-06-14
   days on market $495,000 Active 168 DOM
7. 2026-06-13
   days on market $495,000 Active 167 DOM
8. 2026-06-10
   days on market $495,000 Active 165 DOM
9. 2026-06-09
   days on market $495,000 Active 164 DOM
10. 2026-06-08
    days on market $495,000 Active 163 DOM
11. 2026-06-07
    days on market $495,000 Active 162 DOM
12. 2026-06-05
    days on market $495,000 Active 159 DOM
13. 2026-06-02
    days on market $495,000 Active 157 DOM
14. 2026-06-01
    days on market $495,000 Active 156 DOM
15. 2026-05-31
    days on market $495,000 Active 155 DOM
16. 2026-05-30
    days on market $495,000 Active 154 DOM
17. 2026-04-14
    price $495,000 473-char remark

    Show marketing remark (473 chars)

    LOCATION! LOCATION! Conveniently walking distance to Ithaca College. 1 mile from downtown Ithaca, this property is located at 918 Danby Road, in the town of Ithaca, NY. This 2 Family property consists of 2 four-bedroom units set back from the road with plenty of open space. One two-story 4-bedroom apartment and one 3-story apartment. Right next to campus and close to downtown Ithaca. Easy walk to campus & downtown Ithaca. Separate electric and natural gas meters.

18. 2026-02-09
    price $595,000 473-char remark

    Show marketing remark (473 chars)

    LOCATION! LOCATION! Conveniently walking distance to Ithaca College. 1 mile from downtown Ithaca, this property is located at 918 Danby Road, in the town of Ithaca, NY. This 2 Family property consists of 2 four-bedroom units set back from the road with plenty of open space. One two-story 4-bedroom apartment and one 3-story apartment. Right next to campus and close to downtown Ithaca. Easy walk to campus & downtown Ithaca. Separate electric and natural gas meters.

19. 2026-01-18
    price $649,000 473-char remark

    Show marketing remark (473 chars)

    LOCATION! LOCATION! Conveniently walking distance to Ithaca College. 1 mile from downtown Ithaca, this property is located at 918 Danby Road, in the town of Ithaca, NY. This 2 Family property consists of 2 four-bedroom units set back from the road with plenty of open space. One two-story 4-bedroom apartment and one 3-story apartment. Right next to campus and close to downtown Ithaca. Easy walk to campus & downtown Ithaca. Separate electric and natural gas meters.

20. 2025-12-26
    listed $675,000 Active 473-char remark

    Show marketing remark (473 chars)

    LOCATION! LOCATION! Conveniently walking distance to Ithaca College. 1 mile from downtown Ithaca, this property is located at 918 Danby Road, in the town of Ithaca, NY. This 2 Family property consists of 2 four-bedroom units set back from the road with plenty of open space. One two-story 4-bedroom apartment and one 3-story apartment. Right next to campus and close to downtown Ithaca. Easy walk to campus & downtown Ithaca. Separate electric and natural gas meters.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $70,764
• − Mortgage interest: −$27,728
• − Property taxes: −$7,425
• − Insurance: −$2,475
• − Repairs & maintenance: −$5,661
• − Management: −$5,661
• − Depreciation: −$14,400
• Taxable income: $7,414
• Est. tax owed @ 24.0%: −$1,779
• After-tax cash flow: $13,074/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This 2-family property requires moderate renovations to update the kitchen and exterior, which will significantly increase its resale and rental value.

Repairs flagged

• Moderate Exterior siding — Weathered appearance suggests need for repainting or replacement.
• Minor Kitchen cabinets — Dated design, but not visibly damaged.
• Minor Bathroom fixtures — Standard fixtures, but may need updating.

Value-add opportunities

• Both Updating kitchen cabinets and fixtures — Modernizing the kitchen will appeal to both buyers and renters.
• Both Painting exterior siding — Fresh paint will improve curb appeal and home value.
• Both Landscaping and yard maintenance — A well-maintained yard will enhance the property's appeal.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance suggests need for repainting or replacement.	Moderate	$3,000–15,000
Kitchen cabinets · Dated design, but not visibly damaged.	Minor	$500–3,000
Bathroom fixtures · Standard fixtures, but may need updating.	Minor	$500–3,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both Updating kitchen cabinets and fixtures — Modernizing the kitchen will appeal to both buyers and renters. ↑
• Both Painting exterior siding — Fresh paint will improve curb appeal and home value. ↑
• Both Landscaping and yard maintenance — A well-maintained yard will enhance the property's appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ithaca City School District
• NCES district ID: 3615570
• Math proficiency: 57% ▼ -5.00%
• Reading proficiency: 71% ▲ 11.00%
• Median HH income: $46,528
• Composite: 54.01/100
• National rank: #1397
• State rank: #195 of 590 in NY

Livability — South Hill

• Score: 69/100
• State rank: #471
• US rank: #8329

Category grades

Amenities F Commute F Cost of living D+ Crime D+ Employment A+ Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Hill, NY
• County: Tompkins County · 68,610 people
• Metro: Ithaca, NY
• Population (ZIP): 68,610
• Household income: $71,445
• Rent vs Own: 55.2% rent · 44.8% own
• Severe rent burden: 5169.0

Population outlook (Tompkins County) Hauer SSP2

• Today (2025): 113,958 people
• By 2030: 118,774 · +4.2%
• By 2040: 125,927 · +10.5%
• By 2050: 133,599 · +17.2%
• By 2075: 156,759 · +37.6%
• By 2100: 169,896 · +49.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Asian 13% Hispanic / Latino 8% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 3% Italian 3% Scotch-Irish 2%
• Foreign-born: 18% · China, Canada, South Korea
• Languages at home: 79% English-only · Chinese 5% Spanish 4% Other Indo-European 4%

Political lean MEDSL · Tompkins

• 2024 margin: Solid D (+50.6) · D 75.3% · R 24.7%
• 2008→2024 swing: +8.6pp toward D · 2008: 42.1pp · 2024: 50.6pp
• All cycles: 2024: D+50.6 2020: D+49.2 2016: D+42.1 2012: D+39.8 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -276.59%
• Current HPI: 389.7215
• Rent YoY: ▲ 5.22%
• Metro: Ithaca, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

-26.7% since first listed

4 events — show timeline

• 2026-04-14 Price Changed $495,000 IBRMLS
• 2026-02-09 Price Changed $595,000 IBRMLS
• 2026-01-18 Price Changed $649,000 IBRMLS
• 2025-12-26 Listed $675,000 IBRMLS