316 S Aurora St · Ithaca, NY 14850

$690,000

7 bd · 2.0 ba · 6,300 sqft · MultiFamily public records · 236 Days on market

Built 1910 Fair condition 2,178 sqft lot $110/sqft · 45% below area Est $899k · 23% 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 +6.5/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 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

Priced at assessed value, this large 4 unit on South Hill is conveniently located near The Commons, Cornell University, and Ithaca College. This property includes two tax parcels with each side featuring a 3 bedroom and a 4 bedroom apartment, for a total of four units. The property also boasts on-site parking, laundry income, and rent growth potential for the savvy investor.

Key facts

• On-site parking
• Laundry income
• Conveniently located

Tags

• ON-SITE PARKING
• LAUNDRY INCOME
• RENT GROWTH POTENTIAL
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2×3bd/1.0ba + 2×4bd/1.0ba units multifamily listed at $690k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $690k).
• Recommended offer: $607k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 3.6% 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.
• Zoned schools: Northeast School (math 77% / reading 67%, grade A-, #378 of 2,108 statewide, top 20%, 385 students, 30% FRL); Boynton Middle School (math 36% / reading 64%, grade C, #261 of 729 statewide, top 36%, 526 students, 36% FRL); Ithaca Senior High School (math 95% / reading 95%, grade A+, #83 of 1,100 statewide, top 8%, 1,341 students, 31% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 420 active listings in the ZIP; 382 units permitted in Tompkins County in 2024 (208 in 5+ unit buildings).
• At $2,986/mo per unit this rent would consume 50% of the median local household income ($71k/yr) — 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 $5k of loan paydown is wiped out by about $21k 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 $193k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($607k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $607,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 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 1910 — 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. 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?
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: 1.73% ✓
• Cap rate: 13.86%
• Cash-on-cash: 27.03%
• DSCR: 2.20
• GRM: 4.8

CMA / ARV

• ARV (median comp): $898,891
• List price: $690,000
• Delta: -23.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 S Plain St	0.49mi	6/— (-1)	6,040 (-4%)	13mo	$490,000	$81	54
311-313 S Aurora St	0.03mi	9/6.0 (+2)	5,488 (-13%)	11mo	$727,000	$132	48
204 N Geneva St	0.41mi	6/4.0 (-1)	4,699 (-25%)	25mo	$684,000	$146	23
402 N Cayuga St	0.46mi	5/1.5 (-2)	4,733 (-25%)	50mo	$485,000	$102	21
205 Devon Rd	1.76mi	5/8.0 (-2)	7,525 (+19%)	14mo	$2,385,000	$317	8
154 Troy Rd	2.19mi	7/7.0	5,096 (-19%)	14mo	$630,000	$124	8
105 Needham Pl	1.29mi	6/4.5 (-1)	4,868 (-23%)	51mo	$826,000	$170	5
422 Highland Rd	1.70mi	5/5.0 (-2)	5,390 (-14%)	60mo	$999,999	$186	1
17 Parkway Pl	1.71mi	5/4.5 (-2)	4,829 (-23%)	56mo	$880,000	$182	0

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: 23.6%
• Equity multiple: 2.00×
• Total profit: $192,971
• Equity at exit: $102,881

10-year hold

• IRR: 32.9%
• Equity multiple: 4.33×
• Total profit: $643,535
• Equity at exit: $59,659

Cash invested: $193,200 (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: 420
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $11,946 medium
• Mortgage (P&I): −$3,618
• Tax from tax record: −$1,180 /mo · $14,162/yr
• Insurance: −$288
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,509
• Net cashflow: $4,351

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$6,312
▸ 2× units	4	1	$5,634
Total (4 units)			$11,946

Break-even live

Break-even rent $6,438

Max offer price $690,000

Occupancy floor 59%

Sensitivity live

Price	-10% $4,742	-5% $4,547	+0% $4,351	+5% $4,156	+10% $3,961
Rent	-10% $3,407	-5% $3,879	+0% $4,351	+5% $4,823	+10% $5,295
Rate	-1.0pp $4,699	-0.5pp $4,527	base $4,351	+0.5pp $4,172	+1.0pp $3,991

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: $172,500
• Closing costs: $20,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
320 Hillview Pl Ithaca, NY	2.0–3.0	1.0	800	$2,100	$2.62	93d	4	0.14mi
115 James St Ithaca, NY	2.0–3.0	1.5	—	$2,300	—	93d	2	0.21mi
815 S Aurora St Ithaca, NY	2.0–4.0	1.0	936	$2,125	$2.27	93d	1	0.48mi
127 College Ave Ithaca, NY	3.0	1.0	958	$2,885	$3.01	93d	1	0.54mi
430 W State St Ithaca, NY	2.0	1.0–2.0	727	$3,410	$4.69	93d	34	0.57mi
211 Linden Ave Ithaca, NY	3.0	1.5	760	$3,218	$4.23	93d	4	0.59mi
324 Spencer Rd Ithaca, NY	2.0	1.0	850	$2,545	$2.99	93d	8	0.71mi
308 Fairmount Ave Ithaca, NY	1.0–2.0	1.0	400	$1,775	$4.44	93d	4	0.78mi
107 Elmwood Ave Ithaca, NY	4.0	1.5	—	$2,600	—	70d	2	0.85mi
323 Taughannock Blvd Ithaca, NY	2.0	1.0–2.5	1167	$6,402	$5.48	93d	6	0.95mi
139 Chestnut St Ithaca, NY	1.0–3.0	1.0	850	$1,895	$2.23	93d	1	1.21mi

Listing history 50 events

1. 2026-08-08
   days on market $690,000 Active 236 DOM
2. 2026-08-07
   days on market $690,000 Active 235 DOM
3. 2026-08-06
   days on market $690,000 Active 234 DOM
4. 2026-08-05
   days on market $690,000 Active 233 DOM
5. 2026-08-04
   days on market $690,000 Active 232 DOM
6. 2026-08-03
   days on market $690,000 Active 231 DOM
7. 2026-07-31
   days on market $690,000 Active 228 DOM
8. 2026-07-29
   days on market $690,000 Active 226 DOM
9. 2026-07-27
   days on market $690,000 Active 224 DOM
10. 2026-07-25
    days on market $690,000 Active 222 DOM
11. 2026-07-23
    days on market $690,000 Active 220 DOM
12. 2026-07-22
    days on market $690,000 Active 219 DOM
13. 2026-07-21
    days on market $690,000 Active 218 DOM
14. 2026-07-18
    days on market $690,000 Active 215 DOM
15. 2026-07-16
    days on market $690,000 Active 213 DOM
16. 2026-07-16
    days on market $690,000 Active 212 DOM
17. 2026-07-14
    days on market $690,000 Active 211 DOM
18. 2026-07-13
    days on market $690,000 Active 210 DOM
19. 2026-07-12
    days on market $690,000 Active 209 DOM
20. 2026-07-11
    days on market $690,000 Active 208 DOM
21. 2026-07-10
    days on market $690,000 Active 207 DOM
22. 2026-07-09
    days on market $690,000 Active 206 DOM
23. 2026-07-08
    days on market $690,000 Active 205 DOM
24. 2026-07-07
    days on market $690,000 Active 204 DOM
25. 2026-07-06
    days on market $690,000 Active 203 DOM
26. 2026-07-05
    days on market $690,000 Active 202 DOM
27. 2026-07-04
    days on market $690,000 Active 201 DOM
28. 2026-07-03
    days on market $690,000 Active 200 DOM
29. 2026-07-02
    days on market $690,000 Active 199 DOM
30. 2026-07-01
    days on market $690,000 Active 198 DOM
31. 2026-06-30
    days on market $690,000 Active 197 DOM
32. 2026-06-29
    days on market $690,000 Active 196 DOM
33. 2026-06-28
    days on market $690,000 Active 195 DOM
34. 2026-06-28
    days on market $690,000 Active 194 DOM
35. 2026-06-27
    days on market $690,000 Active 193 DOM
36. 2026-06-26
    days on market $690,000 Active 192 DOM
37. 2026-06-22
    days on market $690,000 Active 189 DOM
38. 2026-06-19
    days on market $690,000 Active 186 DOM
39. 2026-06-18
    days on market $690,000 Active 185 DOM
40. 2026-06-17
    days on market $690,000 Active 184 DOM
41. 2026-06-16
    days on market $690,000 Active 183 DOM
42. 2026-06-15
    days on market $690,000 Active 182 DOM
43. 2026-06-14
    days on market $690,000 Active 180 DOM
44. 2026-06-13
    days on market $690,000 Active 179 DOM
45. 2026-06-10
    days on market $690,000 Active 177 DOM
46. 2026-06-09
    days on market $690,000 Active 176 DOM
47. 2026-06-08
    days on market $690,000 Active 175 DOM
48. 2026-06-07
    days on market $690,000 Active 174 DOM
49. 2026-06-05
    days on market $690,000 Active 171 DOM
50. 2026-06-02
    days on market $690,000 Active 169 DOM

ⓘ 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: $14,162 · $1,180/mo
• Projected year-2 tax: $14,162 · $1,180/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°F today · 17 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: $143,352
• − Mortgage interest: −$38,651
• − Property taxes: −$14,162
• − Insurance: −$3,450
• − Repairs & maintenance: −$11,468
• − Management: −$11,468
• − Depreciation: −$20,073
• Taxable income: $44,080
• Est. tax owed @ 24.0%: −$10,579
• After-tax cash flow: $41,635/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 · 10 photos

Fair 45/100 Moderate rehab Est. rehab $157,500–$283,500 screening

The property is a multi-family home with four units, located near The Commons, Cornell University, and Ithaca College. The exterior and interior condition is fair, with some minor repairs and maintenance needed. Painting and landscaping can significantly increase the property's value.

Components & finishes AI

Roof asphalt shingle · good Flooring hardwood Counters granite Appliances stainless steel HVAC central · new lt5

Repairs flagged

• Minor Kitchen cabinets — The cabinets appear to be in good condition, with no visible signs of damage or wear.
• Minor Bathroom fixtures — The fixtures appear to be in good condition, with no visible signs of damage or wear.
• Minor Exterior siding — The siding appears to be in good condition, with no visible signs of damage or wear.
• Minor Flooring — The flooring appears to be in good condition, with no visible signs of damage or wear.
• Minor Interior walls/paint — The walls and paint appear to be in good condition, with no visible signs of damage or wear.

Value-add opportunities

• Both Painting the exterior and interior walls — Painting can improve the curb appeal and interior aesthetics, which can increase both resale and rental value. ↑
• Both Landscaping — Landscaping can improve the curb appeal and increase the property's value, making it more attractive to potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 65/100

Zoned Schools

Elementary Fall Creek Elementary School D NY #1,085/2,108 Nat'l #12,785/41,679 Middle Boynton Middle School C NY #261/729 Nat'l #3,460/14,009 High Ithaca Senior High School A+ NY #83/1,100 Nat'l #116/17,239

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

B Composite livability gradescore 77/100

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 · 113,958 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: 13% of renters

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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%

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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%

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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

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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

+13981.6% since first listed

7 events — show timeline

• 2025-12-15 Listed $690,000 CNYIS
• 2025-09-03 Listing Removed — CNYIS
• 2025-04-17 Relisted — CNYIS
• 2025-03-25 Contingent — CNYIS
• 2024-12-03 Listed $745,000 CNYIS
• 2023-09-01 Sold (Public Records) $825,000 Public Records
• 2022-02-13 Price Changed $4,900 RENT.

Property tax history

+4.6%/yr

Latest (2025): $14,162 · +2.3% YoY. Source: county tax records.