313 Cascadilla St · Ithaca, NY 14850

$195,000

3 bd · 1.0 ba · 1,782 sqft · SingleFamily public records · 17 Days on market

Built 1850 4,950 sqft lot

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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 +27.9/30.0
• DSCR +9.8/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• 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

Contractor Special with Endless Potential! Opportunity awaits in this 3-bedroom, 1-bath home located in a highly desirable Ithaca location just minutes from The Commons. Within walking distance to shopping, restaurants, entertainment, parks, and more, this property offers the perfect combination of convenience and potential. Bring your vision and creativity to transform this fixer-upper into your dream home or next investment property. Featuring spacious living areas and a prime location, this home is ready for renovations and updates to unlock its full value. Whether you're an investor, contractor, or buyer looking to build equity, don't miss this chance to create something special in t

Key facts

• 4,950 sq ft lot
• Built 1850
• Listed 16 days

Tags

• HIGHLY DESIRABLE LOCATION
• WALKING DISTANCE TO SHOPPING
• WALKING DISTANCE TO PARKS
• SPACIOUS LIVING AREAS

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water connected; Sewer connected
• Home design: 2-story house; Resale property
• Construction: Wood siding; Stone foundation; Existing construction
• Exterior features: Rectangular lot (50 x 99)

Interior

• Kitchen: Gas water heater
• Bedrooms: Bonus room (listed as a room type)
• Flooring: Laminate and varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $192k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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; 1 comparable units currently listed for rent nearby; 382 units permitted in Tompkins County in 2024 (208 in 5+ unit buildings).
• This rent runs 45% 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 $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,075 (1.5% below list)

Questions for the listing agent

1. Built in 1850 — 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: 1.36% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.13%
• DSCR: 1.58
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $413,424
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
522 N Plain St	0.08mi	4/2.5 (+1)	1,705 (-4%)	4mo	$395,000	$232	75
211 N Corn St	0.30mi	3/1.5	1,728 (-3%)	5mo	$339,000	$196	75
108 Esty St	0.05mi	4/2.0 (+1)	1,697 (-5%)	10mo	$275,000	$162	72
410 Madison St	0.14mi	4/2.0 (+1)	1,666 (-6%)	2mo	$369,000	$221	72
107 Second St	0.05mi	3/1.5	1,598 (-10%)	10mo	$350,000	$219	70
113 Auburn St	0.28mi	4/2.0 (+1)	1,702 (-4%)	2mo	$495,000	$291	69
119 Utica St	0.27mi	3/3.0	1,967 (+10%)	2mo	$600,572	$305	60
107 Sears St St	0.26mi	3/2.0	1,525 (-14%)	4mo	$240,000	$157	56
123 Hudson St	0.65mi	3/1.5	1,704 (-4%)	10mo	$395,000	$232	52
308 E Lincoln St	0.63mi	3/1.5	1,587 (-11%)	1mo	$385,000	$243	50
1110 N Cayuga St	0.58mi	3/2.5	1,640 (-8%)	10mo	$535,000	$326	45
201 Stewart Ave	0.72mi	4/2.0 (+1)	2,011 (+13%)	6mo	$352,500	$175	31

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: 5.8%
• Equity multiple: 1.23×
• Total profit: $12,653
• Equity at exit: $29,075

10-year hold

• IRR: 17.3%
• Equity multiple: 2.59×
• Total profit: $86,587
• Equity at exit: $16,860

Cash invested: $54,600 (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: 6.1×

Monthly cashflow live

• Estimated rent: $2,654 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$395 /mo · $4,742/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $598

Break-even live

Break-even rent $1,898

Max offer price $195,000

Occupancy floor 72%

Sensitivity live

Price	-10% $708	-5% $653	+0% $598	+5% $542	+10% $487
Rent	-10% $388	-5% $493	+0% $598	+5% $702	+10% $807
Rate	-1.0pp $696	-0.5pp $647	base $598	+0.5pp $547	+1.0pp $496

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	44d	6	0.49mi

Listing history 14 events

1. 2026-06-19
   days on market $195,000 Active 17 DOM
2. 2026-06-18
   days on market $195,000 Active 16 DOM
3. 2026-06-17
   days on market $195,000 Active 15 DOM
4. 2026-06-16
   days on market $195,000 Active 14 DOM
5. 2026-06-15
   days on market $195,000 Active 13 DOM
6. 2026-06-14
   days on market $195,000 Active 11 DOM
7. 2026-06-13
   days on market $195,000 Active 10 DOM
8. 2026-06-10
   days on market $195,000 Active 8 DOM
9. 2026-06-09
   days on market $195,000 Active 7 DOM
10. 2026-06-08
    days on market $195,000 Active 6 DOM
11. 2026-06-07
    days on market $195,000 Active 5 DOM
12. 2026-06-05
    days on market $195,000 Active 2 DOM
13. 2026-06-03
    remarks 699-char remark
14. 2026-06-03
    listed $195,000 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: $4,742 · $395/mo
• Projected year-2 tax: $4,742 · $395/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 6/10 Major FEMA zone X · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°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: $31,848
• − Mortgage interest: −$10,923
• − Property taxes: −$4,742
• − Insurance: −$975
• − Repairs & maintenance: −$2,548
• − Management: −$2,548
• − Depreciation: −$5,673
• Taxable income: $4,439
• Est. tax owed @ 24.0%: −$1,065
• After-tax cash flow: $6,106/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

1 event — show timeline

• 2026-06-02 Listed $195,000 UNYREIS

Property tax history

-1.8%/yr

Latest (2025): $4,742 · +2.3% YoY. Source: county tax records.