916 Hector St · Ithaca, NY 14850

$339,000

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 3 Days on market

Built 1952 9,525 sqft lot Est $364k · 7% under

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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 +25.6/30.0
• ARV discount +10.6/15.0
• DSCR +8.5/10.0
• 1% rule +6.8/10.0
• 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

Listing remarks MLS

Remarkable Ranch in the City of Ithaca on an easy . 2 acres with a park-like, private back yard. The pictures really do all the talking. .. you'll be pleasantly surprised by the spaciousness of this 1950's home. Large dining room leads to spacious kitchen, and flex space into a palatial living room with sliders to the back deck. 3 sweet bedrooms and a full bath plus a full block basement, and a one car attached garage round out this home. Buy with confidence as the home inspection and radon test have already been done!

Key facts

• 9,525 sq ft lot
• Garage
• Built 1952

Tags

• CLOSE PROXIMITY TO SCHOOLS
• CLOSE PROXIMITY TO EMPLOYERS
• MINUTES FROM DOWNTOWN ITHACA
• MINUTES FROM CAYUGA LAKE
• MINUTES FROM SHOPPING
• MINUTES FROM RESTAURANTS

Property features AI

Exterior

• Parking: Underground parking; 1-car garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Existing construction
• Construction: Vinyl siding; Blown-in insulation; Asphalt shingle roof; Block foundation
• Exterior features: Deck; Open porch; Private yard; Gravel driveway; See remarks

Interior

• Kitchen: Dishwasher; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Gas forced air heating
• Interior features: Ceiling fan(s); Separate/formal living room; Living/dining room; Sliding glass door(s)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $339k.

Deal economics

• At list price, monthly cash flow is $805 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $339k).
• Cap rate 9.1% 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; 2 comparable units currently listed for rent nearby; 382 units permitted in Tompkins County in 2024 (208 in 5+ unit buildings).
• At $4,007/mo this rent would consume 67% 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 $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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $95k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 11y 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 $220k; list at $339k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $339,000

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.18% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.18%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $364,320
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 Westmount Dr	0.16mi	2/1.5 (-1)	1,568 (+9%)	1mo	$361,000	$230	70
101 Oakwood Ln	0.04mi	2/2.0 (-1)	1,372 (-5%)	15mo	$365,000	$266	69
164 Oakwood Ln	0.24mi	3/2.0	1,440 (0%)	21mo	$430,000	$299	67
210 Fallview Ter	0.13mi	3/1.5	1,557 (+8%)	17mo	$325,000	$209	64
407 Richard Pl	0.53mi	3/2.0	1,400 (-3%)	14mo	$410,000	$293	55
325-27 Warren Pl	0.57mi	4/2.5 (+1)	1,500 (+4%)	3mo	$380,000	$253	53
298 Westwood Knoll Knl	0.15mi	3/2.0	1,622 (+13%)	21mo	$410,000	$253	51
721 Cliff St	0.43mi	3/2.0	1,602 (+11%)	23mo	$371,000	$232	38

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: 1.5%
• Equity multiple: 1.06×
• Total profit: $5,574
• Equity at exit: $50,546

10-year hold

• IRR: 13.2%
• Equity multiple: 2.16×
• Total profit: $110,468
• Equity at exit: $29,311

Cash invested: $94,920 (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: 7.1×

Monthly cashflow live

• Estimated rent: $4,007 medium
• Mortgage (P&I): −$1,778
• Tax from tax record: −$441 /mo · $5,293/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$841
• Net cashflow: $805

Break-even live

Break-even rent $2,987

Max offer price $339,000

Occupancy floor 75%

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
323 Taughannock Blvd Ithaca, NY	2.0	1.0–2.5	1167	$6,402	$5.48	43d	6	0.90mi
430 W State St Ithaca, NY	2.0	1.0–2.0	727	$3,410	$4.69	43d	34	1.27mi

Listing history 3 events

1. 2026-06-05
   statusdays on market $339,000 Pending 3 DOM
2. 2026-06-02
   remarks 675-char remark
3. 2026-06-02
   listed $339,000 Active 1 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: $5,293 · $441/mo
• Projected year-2 tax: $5,511 · $459/mo
• Expected delta: +$218/yr (+$18/mo · 4.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 6 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $48,082
• − Mortgage interest: −$18,989
• − Property taxes: −$5,293
• − Insurance: −$1,695
• − Repairs & maintenance: −$3,847
• − Management: −$3,847
• − Depreciation: −$9,862
• Taxable income: $4,549
• Est. tax owed @ 24.0%: −$1,092
• After-tax cash flow: $8,571/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

+93.8% since first listed

10 events — show timeline

• 2026-05-31 Listed $339,000 UNYREIS
• 2021-10-08 Sold (MLS) $220,000 UNYREIS
• 2021-10-08 Sold (MLS) $220,000 IBRMLS
• 2021-10-08 Sold (MLS) $220,000 IBRMLS
• 2021-06-10 Listed $225,000 UNYREIS
• 2021-06-10 Listed $225,000 IBRMLS
• 2021-06-10 Listed $225,000 IBRMLS
• 2015-08-13 Sold (Public Records) $174,900 Public Records
• 2015-08-13 Sold (MLS) $164,900 IBRMLS
• 2015-05-03 Listed $174,900 IBRMLS

Property tax history

-0.6%/yr

Latest (2025): $5,293 · +2.3% YoY. Source: county tax records.