216 S Plain St · Ithaca, NY 14850

$365,000

2 bd · 2.0 ba · 1,336 sqft · SingleFamily public records · 111 Days on market

Built 1900 2,911 sqft lot $273/sqft · 8% above area Est $337k · 8% over

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Why this score? — see what drove the D 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 +13.7/30.0
• Schools +5.4/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• ARV discount +3.8/15.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN HOUSE SUNDAY 4/19 10:00-11:00 You can have it all with this totally renovated corner lot home, including a large fenced in yard/parking area. Come and see all the beautiful enhancements this owner has put in place. Unique lighting and ceiling fans throughout the home. Updates including a new kitchen with cathedral ceiling with a skylight, corian counter, all new appliances and cabinets with a ample dining area. A new stackable washer and dryer on the 1st floor. Both full bathrooms have been fully renovated with beautiful tile sinks and lighting. The entire home has had new laminate flooring put in place. New gutters with gutter guards installed. The spacious first floor bedroom has been used as a family room. The second floor includes 2 more large bedrooms and the fully redone bathroom. This home has an abundance of natural lights as well. The entry room has built in bookshelves which do enhance that room. The basement has had extensive weather proofing done including vapor barrier, french drain put in place and a sump pump system installed as well. Newer furnace and hotwater heater. Plan on making plans for gatherings on your new spacious deck, the yard area in the fence is a fresh palate to enhance the yard as you wish. The owner has had extensive gardening done on the front and side areas. Walking distance to the Commons, shopping, Wegmans market , both universities, and lots more. Call to set up an appointment to view this amazing home. All it needs now is a new owner, could that be you?

Key facts

• New kitchen
• Unique lighting
• Cathedral ceiling

Tags

• RENOVATED CORNER LOT HOME
• LARGE FENCED IN YARD
• UNIQUE LIGHTING
• NEW KITCHEN
• CATHEDRAL CEILING
• SKYLIGHT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $365k.

Deal economics

• At list price, monthly cash flow is $26 ($308/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $322k (11.9% below list).
• Recommended offer: $322k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.3% in Ithaca — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 382 units permitted in Tompkins County in 2024 (208 in 5+ unit buildings).
• At $3,217/mo this rent would consume 54% 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 $11k 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.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($332k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $247k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $321,690 (11.9% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $337,103
• List price: $365,000
• Delta: 8.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 S Titus Ave	0.31mi	3/2.0 (+1)	1,388 (+4%)	1mo	$235,000	$169	73
115 Sears St St	0.51mi	2/1.5	1,379 (+3%)	2mo	$160,000	$116	68
117 Sears St St	0.52mi	2/1.5	1,379 (+3%)	2mo	$160,000	$116	67
602 S Albany St	0.37mi	3/1.0 (+1)	1,296 (-3%)	6mo	$130,000	$100	64
109 Hyers St	0.32mi	3/1.0 (+1)	1,234 (-8%)	8mo	$250,000	$203	57
311 Park Pl	0.44mi	3/2.0 (+1)	1,248 (-7%)	9mo	$380,000	$304	56
113 Sears St St	0.50mi	3/1.5 (+1)	1,504 (+13%)	2mo	$188,000	$125	47
119 Sears St St	0.52mi	3/1.5 (+1)	1,504 (+13%)	2mo	$188,000	$125	46
351 Spencer Rd	0.72mi	3/1.0 (+1)	1,248 (-7%)	1mo	$240,000	$192	46
107 Sears St St	0.49mi	3/2.0 (+1)	1,525 (+14%)	4mo	$240,000	$157	45
336 Spencer Rd	0.68mi	3/1.0 (+1)	1,224 (-8%)	1mo	$136,000	$111	45
248 Floral Ave	0.69mi	3/1.0 (+1)	1,536 (+15%)	7mo	$262,500	$171	28

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: -13.4%
• Equity multiple: 0.51×
• Total profit: $-50,120
• Equity at exit: $54,423

10-year hold

• IRR: -1.3%
• Equity multiple: 0.90×
• Total profit: $-9,815
• Equity at exit: $31,559

Cash invested: $102,200 (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: 9.5×

Monthly cashflow live

• Estimated rent: $3,217 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$449 /mo · $5,394/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $26

Break-even live

Break-even rent $3,184

Max offer price $365,000

Occupancy floor 94%

Sensitivity live

Price	-10% $232	-5% $129	+0% $26	+5% $-78	+10% $-181
Rent	-10% $-228	-5% $-101	+0% $26	+5% $153	+10% $280
Rate	-1.0pp $210	-0.5pp $119	base $26	+0.5pp $-69	+1.0pp $-165

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 W State St Ithaca, NY	2.0	1.0–2.0	727	$3,410	$4.69	44d	34	0.14mi
320 Hillview Pl Ithaca, NY	2.0–3.0	1.0	800	$1,675	$2.09	44d	4	0.48mi
323 Taughannock Blvd Ithaca, NY	2.0	1.0–2.5	1167	$6,402	$5.48	44d	6	0.51mi
815 S Aurora St Ithaca, NY	2.0–4.0	1.0	936	$950	$1.01	44d	1	0.68mi
127 College Ave Ithaca, NY	3.0	1.0	958	$2,885	$3.01	44d	1	0.98mi

Listing history 31 events

1. 2026-06-19
   days on market $365,000 Active 111 DOM
2. 2026-06-18
   days on market $365,000 Active 110 DOM
3. 2026-06-17
   days on market $365,000 Active 109 DOM
4. 2026-06-16
   days on market $365,000 Active 108 DOM
5. 2026-06-15
   days on market $365,000 Active 107 DOM
6. 2026-06-14
   days on market $365,000 Active 105 DOM
7. 2026-06-13
   days on market $365,000 Active 104 DOM
8. 2026-06-10
   days on market $365,000 Active 102 DOM
9. 2026-06-09
   days on market $365,000 Active 101 DOM
10. 2026-06-08
    days on market $365,000 Active 100 DOM
11. 2026-06-07
    days on market $365,000 Active 99 DOM
12. 2026-06-05
    days on market $365,000 Active 96 DOM
13. 2026-06-02
    days on market $365,000 Active 94 DOM
14. 2026-06-01
    days on market $365,000 Active 93 DOM
15. 2026-05-31
    days on market $365,000 Active 92 DOM
16. 2026-05-30
    days on market $365,000 Active 91 DOM
17. 2026-04-01
    status Active 1521-char remark

    Show marketing remark (1521 chars)

    OPEN HOUSE SUNDAY 4/19 10:00-11:00 You can have it all with this totally renovated corner lot home, including a large fenced in yard/parking area. Come and see all the beautiful enhancements this owner has put in place. Unique lighting and ceiling fans throughout the home. Updates including a new kitchen with cathedral ceiling with a skylight, corian counter, all new appliances and cabinets with a ample dining area. A new stackable washer and dryer on the 1st floor. Both full bathrooms have been fully renovated with beautiful tile sinks and lighting. The entire home has had new laminate flooring put in place. New gutters with gutter guards installed. The spacious first floor bedroom has been used as a family room. The second floor includes 2 more large bedrooms and the fully redone bathroom. This home has an abundance of natural lights as well. The entry room has built in bookshelves which do enhance that room. The basement has had extensive weather proofing done including vapor barrier, french drain put in place and a sump pump system installed as well. Newer furnace and hotwater heater. Plan on making plans for gatherings on your new spacious deck, the yard area in the fence is a fresh palate to enhance the yard as you wish. The owner has had extensive gardening done on the front and side areas. Walking distance to the Commons, shopping, Wegmans market , both universities, and lots more. Call to set up an appointment to view this amazing home. All it needs now is a new owner, could that be you?

18. 2026-04-01
    price $375,000 1521-char remark

    Show marketing remark (1521 chars)

    OPEN HOUSE SUNDAY 4/19 10:00-11:00 You can have it all with this totally renovated corner lot home, including a large fenced in yard/parking area. Come and see all the beautiful enhancements this owner has put in place. Unique lighting and ceiling fans throughout the home. Updates including a new kitchen with cathedral ceiling with a skylight, corian counter, all new appliances and cabinets with a ample dining area. A new stackable washer and dryer on the 1st floor. Both full bathrooms have been fully renovated with beautiful tile sinks and lighting. The entire home has had new laminate flooring put in place. New gutters with gutter guards installed. The spacious first floor bedroom has been used as a family room. The second floor includes 2 more large bedrooms and the fully redone bathroom. This home has an abundance of natural lights as well. The entry room has built in bookshelves which do enhance that room. The basement has had extensive weather proofing done including vapor barrier, french drain put in place and a sump pump system installed as well. Newer furnace and hotwater heater. Plan on making plans for gatherings on your new spacious deck, the yard area in the fence is a fresh palate to enhance the yard as you wish. The owner has had extensive gardening done on the front and side areas. Walking distance to the Commons, shopping, Wegmans market , both universities, and lots more. Call to set up an appointment to view this amazing home. All it needs now is a new owner, could that be you?

19. 2026-01-17
    listed $385,000 Active 1521-char remark

    Show marketing remark (1521 chars)

    OPEN HOUSE SUNDAY 4/19 10:00-11:00 You can have it all with this totally renovated corner lot home, including a large fenced in yard/parking area. Come and see all the beautiful enhancements this owner has put in place. Unique lighting and ceiling fans throughout the home. Updates including a new kitchen with cathedral ceiling with a skylight, corian counter, all new appliances and cabinets with a ample dining area. A new stackable washer and dryer on the 1st floor. Both full bathrooms have been fully renovated with beautiful tile sinks and lighting. The entire home has had new laminate flooring put in place. New gutters with gutter guards installed. The spacious first floor bedroom has been used as a family room. The second floor includes 2 more large bedrooms and the fully redone bathroom. This home has an abundance of natural lights as well. The entry room has built in bookshelves which do enhance that room. The basement has had extensive weather proofing done including vapor barrier, french drain put in place and a sump pump system installed as well. Newer furnace and hotwater heater. Plan on making plans for gatherings on your new spacious deck, the yard area in the fence is a fresh palate to enhance the yard as you wish. The owner has had extensive gardening done on the front and side areas. Walking distance to the Commons, shopping, Wegmans market , both universities, and lots more. Call to set up an appointment to view this amazing home. All it needs now is a new owner, could that be you?

20. 2022-01-25
    soldstatus $247,000 721-char remark

    Show marketing remark (721 chars)

    Look no further for a move-in ready downtown home! Spacious fenced-in private backyard for all kinds of outdoor activities, with a drive-in parking spot. Southside Community Center just across the street that's a very active part of the community as well as the St. James Zion Church down Cleveland Ave. Keep warm this winter with the woodstove. The downstairs features a new bathroom and boasts one large room that can be used as a bedroom or living room. Skylight above the kitchen gives a stunning appeal to the lower level. Upstairs features two bedrooms and one bath with an antique clawfoot tub. Walking distance to Wegmans, CVS, Ithaca Commons, restaurants and much more. Don't miss the downtown living experience!

21. 2022-01-25
    soldstatus $247,000

    Show marketing remark (721 chars)

    Look no further for a move-in ready downtown home! Spacious fenced-in private backyard for all kinds of outdoor activities, with a drive-in parking spot. Southside Community Center just across the street that's a very active part of the community as well as the St. James Zion Church down Cleveland Ave. Keep warm this winter with the woodstove. The downstairs features a new bathroom and boasts one large room that can be used as a bedroom or living room. Skylight above the kitchen gives a stunning appeal to the lower level. Upstairs features two bedrooms and one bath with an antique clawfoot tub. Walking distance to Wegmans, CVS, Ithaca Commons, restaurants and much more. Don't miss the downtown living experience!

22. 2021-08-19
    listed $255,000 721-char remark

    Show marketing remark (721 chars)

    Look no further for a move-in ready downtown home! Spacious fenced-in private backyard for all kinds of outdoor activities, with a drive-in parking spot. Southside Community Center just across the street that's a very active part of the community as well as the St. James Zion Church down Cleveland Ave. Keep warm this winter with the woodstove. The downstairs features a new bathroom and boasts one large room that can be used as a bedroom or living room. Skylight above the kitchen gives a stunning appeal to the lower level. Upstairs features two bedrooms and one bath with an antique clawfoot tub. Walking distance to Wegmans, CVS, Ithaca Commons, restaurants and much more. Don't miss the downtown living experience!

23. 2021-08-19
    listed $255,000

    Show marketing remark (721 chars)

    Look no further for a move-in ready downtown home! Spacious fenced-in private backyard for all kinds of outdoor activities, with a drive-in parking spot. Southside Community Center just across the street that's a very active part of the community as well as the St. James Zion Church down Cleveland Ave. Keep warm this winter with the woodstove. The downstairs features a new bathroom and boasts one large room that can be used as a bedroom or living room. Skylight above the kitchen gives a stunning appeal to the lower level. Upstairs features two bedrooms and one bath with an antique clawfoot tub. Walking distance to Wegmans, CVS, Ithaca Commons, restaurants and much more. Don't miss the downtown living experience!

24. 2021-06-16
    soldstatus $193,000
25. 2017-08-15
    soldstatus $215,000
26. 2017-08-15
    soldstatus $215,000
27. 2017-06-06
    listed $217,000
28. 2015-07-27
    soldstatus $188,553
29. 2015-07-27
    soldstatus $189,250
30. 2015-04-15
    listed $199,000
31. 2009-12-16
    soldstatus $142,500

ⓘ 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: $5,394 · $449/mo
• Projected year-2 tax: $5,781 · $482/mo
• Expected delta: +$387/yr (+$32/mo · 7.2%)

ⓘ 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: $38,603
• − Mortgage interest: −$20,446
• − Property taxes: −$5,394
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,088
• − Management: −$3,088
• − Depreciation: −$10,618
• Taxable loss: −$5,856
• Est. tax savings @ 24.0%: +$1,405
• After-tax cash flow: $1,714/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

+163.2% since first listed

15 events — show timeline

• 2026-04-01 Relisted — UNYREIS
• 2026-04-01 Price Changed $375,000 UNYREIS
• 2026-01-17 Listed $385,000 UNYREIS
• 2022-01-25 Sold (MLS) $247,000 IBRMLS
• 2022-01-25 Sold (MLS) $247,000 IBRMLS
• 2021-08-19 Listed $255,000 IBRMLS
• 2021-08-19 Listed $255,000 IBRMLS
• 2021-06-16 Sold (Public Records) $193,000 Public Records
• 2017-08-15 Sold (Public Records) $215,000 Public Records
• 2017-08-15 Sold (MLS) $215,000 IBRMLS
• 2017-06-06 Listed $217,000 IBRMLS
• 2015-07-27 Sold (Public Records) $189,250 Public Records
• 2015-07-27 Sold (MLS) $188,553 IBRMLS
• 2015-04-15 Listed $199,000 IBRMLS
• 2009-12-16 Sold (Public Records) $142,500 Public Records

Property tax history

+0.5%/yr

Latest (2025): $5,394 · +2.3% YoY. Source: county tax records.