525 W Green St · Ithaca, NY 14850

$549,000

9 bd · 3.9 ba · 4,210 sqft · MultiFamily public records · 123 Days on market

Built 1975 7,841 sqft lot $130/sqft · 45% below area Est $996k · 45% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.4/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great income generator with annual revenue of $66,000! Ideally located in the heart of downtown Ithaca. This well-maintained four-unit property offers a rare opportunity to enjoy true walkable city living while generating consistent rental income. Just steps from the Route 13 shopping corridor, restaurants, shops, and cultural attractions, the location is truly unbeatable. Numerous updates enhance both value and appeal, including a new metal roof, new flooring, fresh interior paint, and more (see full list of improvements). Each unit features generously sized bedroom(s), functional kitchen, and inviting living spaces designed for comfortable everyday living. With separate gas and electric utilities, updated mechanicals, and solid construction, this property offers efficiency and ease of management. Additional amenities include parking space for 3-4 vehicles, a basement laundry area, ample storage space, and a fenced private yard, all highly desirable features for tenants. All four units are currently rented, providing immediate income and strong rental demand in a sought-after location. This property supports long-term stability and tenant retention. Whether you are expanding your investment portfolio or seeking an owner-occupant opportunity with built-in income, this turnkey multifamily delivers versatility and reliable cash-flow potential, a rare opportunity. Schedule your private showing today!

Key facts

• New metal roof
• Solid construction
• New flooring

Tags

• NEW METAL ROOF
• NEW FLOORING
• FRESH INTERIOR PAINT
• UPDATED MECHANICALS
• SOLID CONSTRUCTION
• PARKING SPACE FOR 3-4 VEHICLES

🏷️ Possibly a rental listed for sale. The $549,000 price doesn't fit this home's estimated sale value (~$995,574) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $549k.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $549k).
• Recommended offer: $483k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 5.3% in Ithaca — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#210 in NY, #3,240 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: housing C-, employment 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 $9,991/mo this rent would consume 168% 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 $4k of loan paydown is wiped out by about $16k 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 $154k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($483k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $394k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $483,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 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. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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.
9. 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.
10. 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: 1.82% ✓
• Cap rate: 14.99%
• Cash-on-cash: 31.07%
• DSCR: 2.38
• GRM: 4.6

CMA / ARV

• ARV (median comp): $995,574
• List price: $549,000
• Delta: -44.86%
• 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
310-312 Pleasant St	0.59mi	8/4.0 (-1)	3,700 (-12%)	2mo	$685,000	$185	45

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: 28.4%
• Equity multiple: 2.22×
• Total profit: $187,595
• Equity at exit: $81,858

10-year hold

• IRR: 37.2%
• Equity multiple: 4.83×
• Total profit: $588,669
• Equity at exit: $47,467

Cash invested: $153,720 (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: 13.7×

Monthly cashflow live

• Estimated rent: $9,991 high
• Mortgage (P&I): −$2,879
• Tax from tax record: −$805 /mo · $9,655/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,098
• Net cashflow: $3,981

Break-even live

Break-even rent $4,952

Max offer price $549,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$9,990
Total (3 units)			$9,991

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Listing history 43 events

1. 2026-06-19
   days on market $549,000 Active 123 DOM
2. 2026-06-18
   days on market $549,000 Active 122 DOM
3. 2026-06-17
   days on market $549,000 Active 121 DOM
4. 2026-06-16
   days on market $549,000 Active 120 DOM
5. 2026-06-15
   days on market $549,000 Active 119 DOM
6. 2026-06-14
   days on market $549,000 Active 117 DOM
7. 2026-06-13
   days on market $549,000 Active 116 DOM
8. 2026-06-10
   days on market $549,000 Active 114 DOM
9. 2026-06-09
   days on market $549,000 Active 113 DOM
10. 2026-06-08
    days on market $549,000 Active 112 DOM
11. 2026-06-07
    days on market $549,000 Active 111 DOM
12. 2026-06-05
    days on market $549,000 Active 108 DOM
13. 2026-06-02
    days on market $549,000 Active 106 DOM
14. 2026-06-01
    days on market $549,000 Active 105 DOM
15. 2026-05-31
    days on market $549,000 Active 104 DOM
16. 2026-05-30
    days on market $549,000 Active 103 DOM
17. 2026-05-04
    price $549,000 1420-char remark

    Show marketing remark (1420 chars)

    Great income generator with annual revenue of $66,000! Ideally located in the heart of downtown Ithaca. This well-maintained four-unit property offers a rare opportunity to enjoy true walkable city living while generating consistent rental income. Just steps from the Route 13 shopping corridor, restaurants, shops, and cultural attractions, the location is truly unbeatable. Numerous updates enhance both value and appeal, including a new metal roof, new flooring, fresh interior paint, and more (see full list of improvements). Each unit features generously sized bedroom(s), functional kitchen, and inviting living spaces designed for comfortable everyday living. With separate gas and electric utilities, updated mechanicals, and solid construction, this property offers efficiency and ease of management. Additional amenities include parking space for 3-4 vehicles, a basement laundry area, ample storage space, and a fenced private yard, all highly desirable features for tenants. All four units are currently rented, providing immediate income and strong rental demand in a sought-after location. This property supports long-term stability and tenant retention. Whether you are expanding your investment portfolio or seeking an owner-occupant opportunity with built-in income, this turnkey multifamily delivers versatility and reliable cash-flow potential, a rare opportunity. Schedule your private showing today!

18. 2026-03-16
    price $559,000 1420-char remark

    Show marketing remark (1420 chars)

    Great income generator with annual revenue of $66,000! Ideally located in the heart of downtown Ithaca. This well-maintained four-unit property offers a rare opportunity to enjoy true walkable city living while generating consistent rental income. Just steps from the Route 13 shopping corridor, restaurants, shops, and cultural attractions, the location is truly unbeatable. Numerous updates enhance both value and appeal, including a new metal roof, new flooring, fresh interior paint, and more (see full list of improvements). Each unit features generously sized bedroom(s), functional kitchen, and inviting living spaces designed for comfortable everyday living. With separate gas and electric utilities, updated mechanicals, and solid construction, this property offers efficiency and ease of management. Additional amenities include parking space for 3-4 vehicles, a basement laundry area, ample storage space, and a fenced private yard, all highly desirable features for tenants. All four units are currently rented, providing immediate income and strong rental demand in a sought-after location. This property supports long-term stability and tenant retention. Whether you are expanding your investment portfolio or seeking an owner-occupant opportunity with built-in income, this turnkey multifamily delivers versatility and reliable cash-flow potential, a rare opportunity. Schedule your private showing today!

19. 2026-03-10
    price $569,000 1420-char remark

    Show marketing remark (1420 chars)

    Great income generator with annual revenue of $66,000! Ideally located in the heart of downtown Ithaca. This well-maintained four-unit property offers a rare opportunity to enjoy true walkable city living while generating consistent rental income. Just steps from the Route 13 shopping corridor, restaurants, shops, and cultural attractions, the location is truly unbeatable. Numerous updates enhance both value and appeal, including a new metal roof, new flooring, fresh interior paint, and more (see full list of improvements). Each unit features generously sized bedroom(s), functional kitchen, and inviting living spaces designed for comfortable everyday living. With separate gas and electric utilities, updated mechanicals, and solid construction, this property offers efficiency and ease of management. Additional amenities include parking space for 3-4 vehicles, a basement laundry area, ample storage space, and a fenced private yard, all highly desirable features for tenants. All four units are currently rented, providing immediate income and strong rental demand in a sought-after location. This property supports long-term stability and tenant retention. Whether you are expanding your investment portfolio or seeking an owner-occupant opportunity with built-in income, this turnkey multifamily delivers versatility and reliable cash-flow potential, a rare opportunity. Schedule your private showing today!

20. 2026-02-16
    listed $575,000 Active 1420-char remark

    Show marketing remark (1420 chars)

    Great income generator with annual revenue of $66,000! Ideally located in the heart of downtown Ithaca. This well-maintained four-unit property offers a rare opportunity to enjoy true walkable city living while generating consistent rental income. Just steps from the Route 13 shopping corridor, restaurants, shops, and cultural attractions, the location is truly unbeatable. Numerous updates enhance both value and appeal, including a new metal roof, new flooring, fresh interior paint, and more (see full list of improvements). Each unit features generously sized bedroom(s), functional kitchen, and inviting living spaces designed for comfortable everyday living. With separate gas and electric utilities, updated mechanicals, and solid construction, this property offers efficiency and ease of management. Additional amenities include parking space for 3-4 vehicles, a basement laundry area, ample storage space, and a fenced private yard, all highly desirable features for tenants. All four units are currently rented, providing immediate income and strong rental demand in a sought-after location. This property supports long-term stability and tenant retention. Whether you are expanding your investment portfolio or seeking an owner-occupant opportunity with built-in income, this turnkey multifamily delivers versatility and reliable cash-flow potential, a rare opportunity. Schedule your private showing today!

21. 2025-05-15
    soldstatus $394,000 Closed 164-char remark

    Show marketing remark (164 chars)

    Well maintained four unit property featuring off street parting, newer broilers, large apartments and great income potential conveniently located in downtown Ithaca

22. 2025-03-25
    status Pending 164-char remark

    Show marketing remark (164 chars)

    Well maintained four unit property featuring off street parting, newer broilers, large apartments and great income potential conveniently located in downtown Ithaca

23. 2025-01-07
    historical Active Under Contract 164-char remark

    Show marketing remark (164 chars)

    Well maintained four unit property featuring off street parting, newer broilers, large apartments and great income potential conveniently located in downtown Ithaca

24. 2024-09-21
    price $427,000 164-char remark

    Show marketing remark (164 chars)

    Well maintained four unit property featuring off street parting, newer broilers, large apartments and great income potential conveniently located in downtown Ithaca

25. 2024-08-28
    historical $1,800
26. 2024-08-13
    listed $1,800
27. 2024-05-14
    price $442,000 164-char remark

    Show marketing remark (164 chars)

    Well maintained four unit property featuring off street parting, newer broilers, large apartments and great income potential conveniently located in downtown Ithaca

28. 2024-04-05
    listed $465,000 Active 164-char remark

    Show marketing remark (164 chars)

    Well maintained four unit property featuring off street parting, newer broilers, large apartments and great income potential conveniently located in downtown Ithaca

29. 2023-07-16
    historical
30. 2018-08-14
    soldstatus $461,000
31. 2018-08-14
    soldstatus $461,000
32. 2018-08-14
    soldstatus $461,000
33. 2018-04-09
    listed $475,000
34. 2018-04-09
    listed $475,000
35. 2017-05-16
    listed $499,000
36. 2014-07-14
    soldstatus $144,371
37. 2013-05-29
    soldstatus $175,100
38. 2007-06-25
    soldstatus $150,000
39. 2007-06-20
    soldstatus $150,000
40. 2005-06-28
    listed $159,900
41. 2000-06-02
    soldstatus $53,000
42. 2000-06-01
    soldstatus $53,000
43. 1999-06-01
    listed $75,000

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $9,655 · $805/mo
• Projected year-2 tax: $9,655 · $805/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $119,892
• − Mortgage interest: −$30,753
• − Property taxes: −$9,655
• − Insurance: −$2,745
• − Repairs & maintenance: −$9,591
• − Management: −$9,591
• − Depreciation: −$15,971
• Taxable income: $41,586
• Est. tax owed @ 24.0%: −$9,981
• After-tax cash flow: $37,786/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.

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 — Ithaca

• Score: 77/100
• State rank: #210
• US rank: #3240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ithaca, NY
• County: Tompkins County · 68,610 people
• City population: 68,610
• 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

+632.0% since first listed

27 events — show timeline

• 2026-05-04 Price Changed $549,000 IBRMLS
• 2026-03-16 Price Changed $559,000 IBRMLS
• 2026-03-10 Price Changed $569,000 IBRMLS
• 2026-02-16 Listed $575,000 IBRMLS
• 2025-05-15 Sold (MLS) $394,000 CNYIS
• 2025-03-25 Pending — CNYIS
• 2025-01-07 Contingent — CNYIS
• 2024-09-21 Price Changed $427,000 CNYIS
• 2024-08-28 Rental Removed $1,800 APPFOLIO
• 2024-08-13 Listed for Rent $1,800 APPFOLIO
• 2024-05-14 Price Changed $442,000 CNYIS
• 2024-04-05 Listed $465,000 CNYIS
• 2023-07-16 Rental Removed — APPFOLIO
• 2018-08-14 Sold (Public Records) $461,000 Public Records
• 2018-08-14 Sold (MLS) $461,000 IBRMLS
• 2018-08-14 Sold (MLS) $461,000 IBRMLS
• 2018-04-09 Listed $475,000 IBRMLS
• 2018-04-09 Listed $475,000 IBRMLS
• 2017-05-16 Listed $499,000 IBRMLS
• 2014-07-14 Sold (Public Records) $144,371 Public Records
• 2013-05-29 Sold (Public Records) $175,100 Public Records
• 2007-06-25 Sold (MLS) $150,000 IBRMLS
• 2007-06-20 Sold (Public Records) $150,000 Public Records
• 2005-06-28 Listed $159,900 IBRMLS
• 2000-06-02 Sold (Public Records) $53,000 Public Records
• 2000-06-01 Sold (MLS) $53,000 IBRMLS
• 1999-06-01 Listed $75,000 IBRMLS

Property tax history

+3.6%/yr

Latest (2025): $9,655 · +2.3% YoY. Source: county tax records.