1235 Trumansburg Rd · Northwest Ithaca, NY 14850

$342,900

4 bd · 1.0 ba · 1,392 sqft · SingleFamily public records · 355 Days on market

Built 1939 1.36 ac lot $246/sqft · 27% below area Est $468k · 27% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.3/30.0
• Schools +5.4/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Brick Home with Endless Potential This inviting brick home offers exceptional space and flexibility, perfect for those looking to make it their own. The main level features a convenient first-floor bedroom with a brand-new full bathroom, plus an additional new bedroom ideal for guests or a home office. A spacious living room welcomes you with a cozy wood-burning fireplace, creating a warm and comfortable gathering space. Upstairs, discover a versatile layout with the potential to create a generous primary suite or two additional bedrooms, complemented by a full bath. The oversized front-entry sunporch fills the home with natural light and adds a touch of character, while the expansive back deck provides the perfect setting for outdoor entertaining. Additional highlights include a wrap-around driveway, detached garage, charming gazebo, and a prime location near Cayuga Medical Center, the Finger Lakes School of Massage, and downtown Ithaca. Whether you're a homeowner ready to customize or an investor seeking opportunity, this home is full of possibilities.

Key facts

• Storage room
• Master suite
• Full bathroom

Tags

• FIRST FLOOR BEDROOM
• FULL BATHROOM
• STORAGE ROOM
• WOOD BURNING FIREPLACE
• MASTER SUITE
• BACK DECK

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $343k.

Deal economics

• At list price, monthly cash flow is $-188 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $310k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (26.2% below list).
• Recommended offer: $253k (26.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#488 in NY) — a middle-class / working-renter tenant base. Strengths: health & safety A+, crime A, employment A; Watch: schools D-, amenities F, commute F.
• 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).
• This rent runs 43% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 355 days — a 12% lower offer ($302k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $159k; list at $343k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $253,162 (26.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 355 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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 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: 0.74% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.35%
• DSCR: 0.90
• GRM: 11.3

CMA / ARV

• ARV (median comp): $467,724
• List price: $342,900
• Delta: -26.69%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
969 Taughannock Blvd	0.62mi	3/1.5 (-1)	1,344 (-3%)	18mo	$460,000	$342	44
164 Oakwood Ln	0.69mi	3/2.0 (-1)	1,440 (+3%)	21mo	$430,000	$299	35

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: -18.0%
• Equity multiple: 0.36×
• Total profit: $-61,836
• Equity at exit: $51,128

10-year hold

• IRR: -6.7%
• Equity multiple: 0.53×
• Total profit: $-44,746
• Equity at exit: $29,648

Cash invested: $96,012 (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: 11.3×

Monthly cashflow live

• Estimated rent: $2,532 medium
• Mortgage (P&I): −$1,798
• Tax from tax record: −$247 /mo · $2,964/yr
• Insurance: −$143
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $-188

Break-even live

Break-even rent $2,770

Max offer price $309,678

Occupancy floor —

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: $85,725
• Closing costs: $10,287
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-08
   days on market $342,900 Active 355 DOM
2. 2026-06-07
   days on market $342,900 Active 354 DOM
3. 2026-06-05
   days on market $342,900 Active 351 DOM
4. 2026-06-02
   days on market $342,900 Active 349 DOM
5. 2026-06-01
   days on market $342,900 Active 348 DOM
6. 2026-05-31
   days on market $342,900 Active 347 DOM
7. 2026-05-30
   days on market $342,900 Active 346 DOM
8. 2026-03-13
   status Active 1082-char remark

   Show marketing remark (1082 chars)

   Charming Brick Home with Endless Potential This inviting brick home offers exceptional space and flexibility, perfect for those looking to make it their own. The main level features a convenient first-floor bedroom with a brand-new full bathroom, plus an additional new bedroom ideal for guests or a home office. A spacious living room welcomes you with a cozy wood-burning fireplace, creating a warm and comfortable gathering space. Upstairs, discover a versatile layout with the potential to create a generous primary suite or two additional bedrooms, complemented by a full bath. The oversized front-entry sunporch fills the home with natural light and adds a touch of character, while the expansive back deck provides the perfect setting for outdoor entertaining. Additional highlights include a wrap-around driveway, detached garage, charming gazebo, and a prime location near Cayuga Medical Center, the Finger Lakes School of Massage, and downtown Ithaca. Whether you're a homeowner ready to customize or an investor seeking opportunity, this home is full of possibilities.

9. 2026-03-06
   status Pending 1082-char remark

   Show marketing remark (1082 chars)

   Charming Brick Home with Endless Potential This inviting brick home offers exceptional space and flexibility, perfect for those looking to make it their own. The main level features a convenient first-floor bedroom with a brand-new full bathroom, plus an additional new bedroom ideal for guests or a home office. A spacious living room welcomes you with a cozy wood-burning fireplace, creating a warm and comfortable gathering space. Upstairs, discover a versatile layout with the potential to create a generous primary suite or two additional bedrooms, complemented by a full bath. The oversized front-entry sunporch fills the home with natural light and adds a touch of character, while the expansive back deck provides the perfect setting for outdoor entertaining. Additional highlights include a wrap-around driveway, detached garage, charming gazebo, and a prime location near Cayuga Medical Center, the Finger Lakes School of Massage, and downtown Ithaca. Whether you're a homeowner ready to customize or an investor seeking opportunity, this home is full of possibilities.

10. 2025-08-25
    price $342,900 1082-char remark

    Show marketing remark (1082 chars)

    Charming Brick Home with Endless Potential This inviting brick home offers exceptional space and flexibility, perfect for those looking to make it their own. The main level features a convenient first-floor bedroom with a brand-new full bathroom, plus an additional new bedroom ideal for guests or a home office. A spacious living room welcomes you with a cozy wood-burning fireplace, creating a warm and comfortable gathering space. Upstairs, discover a versatile layout with the potential to create a generous primary suite or two additional bedrooms, complemented by a full bath. The oversized front-entry sunporch fills the home with natural light and adds a touch of character, while the expansive back deck provides the perfect setting for outdoor entertaining. Additional highlights include a wrap-around driveway, detached garage, charming gazebo, and a prime location near Cayuga Medical Center, the Finger Lakes School of Massage, and downtown Ithaca. Whether you're a homeowner ready to customize or an investor seeking opportunity, this home is full of possibilities.

11. 2025-06-10
    listed $349,000 Active 1082-char remark

    Show marketing remark (1082 chars)

    Charming Brick Home with Endless Potential This inviting brick home offers exceptional space and flexibility, perfect for those looking to make it their own. The main level features a convenient first-floor bedroom with a brand-new full bathroom, plus an additional new bedroom ideal for guests or a home office. A spacious living room welcomes you with a cozy wood-burning fireplace, creating a warm and comfortable gathering space. Upstairs, discover a versatile layout with the potential to create a generous primary suite or two additional bedrooms, complemented by a full bath. The oversized front-entry sunporch fills the home with natural light and adds a touch of character, while the expansive back deck provides the perfect setting for outdoor entertaining. Additional highlights include a wrap-around driveway, detached garage, charming gazebo, and a prime location near Cayuga Medical Center, the Finger Lakes School of Massage, and downtown Ithaca. Whether you're a homeowner ready to customize or an investor seeking opportunity, this home is full of possibilities.

12. 2008-01-29
    soldstatus $159,100

ⓘ 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: $2,964 · $247/mo
• Projected year-2 tax: $4,379 · $365/mo
• Expected delta: +$1,416/yr (+$118/mo · 47.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 14 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: $30,379
• − Mortgage interest: −$19,208
• − Property taxes: −$2,964
• − Insurance: −$1,714
• − Repairs & maintenance: −$2,430
• − Management: −$2,430
• − Depreciation: −$9,975
• Taxable loss: −$8,342
• Est. tax savings @ 24.0%: +$2,002
• After-tax cash flow: $-255/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 — Northwest Ithaca

• Score: 69/100
• State rank: #488
• US rank: #8598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Northwest Ithaca, 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

+115.5% since first listed

5 events — show timeline

• 2026-03-13 Relisted — IBRMLS
• 2026-03-06 Pending — IBRMLS
• 2025-08-25 Price Changed $342,900 IBRMLS
• 2025-06-10 Listed $349,000 IBRMLS
• 2008-01-29 Sold (Public Records) $159,100 Public Records

Property tax history

-7.6%/yr

Latest (2025): $2,964 · +3.9% YoY. Source: county tax records.