614 N Aurora St · Ithaca, NY 14850

$438,000

4 bd · 2.0 ba · 1,590 sqft · MultiFamily public records · 61 Days on market

Built 1890 5,500 sqft lot

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Why this score? — see what drove the C+ 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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

Key facts

• Covered front porch
• Back deck
• Original woodwork

Tags

• COVERED FRONT PORCH
• BACK DECK
• QUAINT BACKYARD
• ORIGINAL WOODWORK
• BUILT-IN DETAILS

Property features AI

Exterior

• Parking: Detached garage (1 car); Asphalt driveway
• Utilities: Public water; Sewer connected; Water connected; Cable available
• Home design: Single-family residence; Two levels / 2 stories
• Construction: Frame construction; Block and stone foundation; Asphalt shingle roof; Built as a residential single-family home
• Exterior features: Covered porch; Deck; Porch; Rectangular lot; City street frontage on a publicly maintained road; Lot dimensions approximately 44 x 125

Interior

• Kitchen: Electric oven and range; Range hood; Refrigerator; Exhaust fan
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Hardwood; Ceramic tile; Tile; Varied flooring
• Bathrooms: 2 full bathrooms (1 on the main level)
• Heating & cooling: Natural gas heating with baseboard, hot water, and radiant systems; Ceiling fan(s) for cooling
• Interior features: Ceiling fan(s); 12 total rooms; Crawl space basement with sump pump
• Laundry & utility: Washer and dryer; Dedicated laundry room on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $438k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $438k).
• Recommended offer: $412k (6.0% below list) — sets the bar for market timing.

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: Fall Creek Elementary School (math 37% / reading 62%, grade D, #1,085 of 2,108 statewide, top 56%, 232 students, 40% FRL).
• Zoned-school proficiency averages 50% at this address vs 64% district-wide (-14 pts) — the specific schools serving this property underperform the Ithaca City School District average; the district grade overstates school quality for this exact location.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 $123k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $301k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $411,720 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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 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: 1.22% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.56%
• DSCR: 1.47
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $287,790
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
122-24 Linn St	0.21mi	4/2.0	1,792 (+13%)	4mo	$320,000	$179	66
217-219 1st St	0.30mi	4/2.0	1,800 (+13%)	10mo	$325,000	$181	56
406 W Court St	0.51mi	4/2.0	1,800 (+13%)	7mo	$255,000	$142	48
207 Auburn St	0.26mi	5/3.0 (+1)	1,774 (+12%)	23mo	$350,000	$197	40

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: 1.4%
• Equity multiple: 1.05×
• Total profit: $6,584
• Equity at exit: $65,307

10-year hold

• IRR: 13.2%
• Equity multiple: 2.16×
• Total profit: $142,654
• Equity at exit: $37,870

Cash invested: $122,640 (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: 13.7×

Monthly cashflow live

• Estimated rent: $5,326 high
• Mortgage (P&I): −$2,297
• Tax from tax record: −$649 /mo · $7,782/yr
• Insurance: −$182
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,118
• Net cashflow: $1,024

Break-even live

Break-even rent $4,030

Max offer price $438,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,326
Total (2 units)			$5,326

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: $109,500
• Closing costs: $13,140
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 S Aurora St Ithaca, NY	2.0–4.0	1.0	936	$3,300	$3.52	43d	1	1.17mi

Listing history 14 events

1. 2026-05-17
   status Pending

   Show marketing remark (609 chars)

   Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

2. 2026-05-17
   status Pending 609-char remark

   Show marketing remark (609 chars)

   Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

3. 2026-05-11
   historical Active Under Contract

   Show marketing remark (609 chars)

   Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

4. 2026-05-11
   historical Active Under Contract 609-char remark

   Show marketing remark (609 chars)

   Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

5. 2026-05-01
   price $438,000

   Show marketing remark (609 chars)

   Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

6. 2026-05-01
   price $438,000 609-char remark

   Show marketing remark (609 chars)

   Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

7. 2026-04-23
   price $449,000

   Show marketing remark (609 chars)

   Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

8. 2026-04-23
   price $449,000 609-char remark

   Show marketing remark (609 chars)

   Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

9. 2026-03-17
   listed $459,000 Active
10. 2026-03-16
    listed $459,000 Active 609-char remark

    Show marketing remark (609 chars)

    Charming duplex in the heart of Fall Creek! Each unit features 2 bedrooms and 1 bathroom, showcasing some of it's 1890 original woodwork and classic built-in details that add warmth and character. Bright interiors and welcoming layouts provide comfortable living spaces filled with natural light. Enjoy the lovely covered front porch—perfect for taking in the energy of Ithaca Porchfest—or relax with your morning coffee on the back deck overlooking the quaint backyard. A wonderful opportunity for investors or owner-occupants seeking a great income-producing property close to all things Ithaca.

11. 2019-08-01
    soldstatus $301,028
12. 2019-07-31
    soldstatus $301,028 540-char remark

    Show marketing remark (540 chars)

    Opportunity knocks. Ideal downtown duplex, in fabulous Fall Creek location. First time on the market in 18 years. Easy flowing floor plans. Big windows for natural light, hardwood floors, old style woodwork and built-ins downstairs make for a charming home. Energy upgrades include new insulation and furnace in basement. Ample parking, plus a great one car garage. relax with your morning coffee on the back deck overlooking a spacious back yard, or enjoy neighborhood life from your big front porch! Open house Sunday May 5th 1:00-2:30pm.

13. 2019-04-29
    listed $285,000 540-char remark

    Show marketing remark (540 chars)

    Opportunity knocks. Ideal downtown duplex, in fabulous Fall Creek location. First time on the market in 18 years. Easy flowing floor plans. Big windows for natural light, hardwood floors, old style woodwork and built-ins downstairs make for a charming home. Energy upgrades include new insulation and furnace in basement. Ample parking, plus a great one car garage. relax with your morning coffee on the back deck overlooking a spacious back yard, or enjoy neighborhood life from your big front porch! Open house Sunday May 5th 1:00-2:30pm.

14. 2001-07-11
    soldstatus $92,000

ⓘ 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: $7,782 · $649/mo
• Projected year-2 tax: $7,782 · $649/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 7/10 Severe FEMA zone X (shaded) · 96% 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 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: $63,912
• − Mortgage interest: −$24,535
• − Property taxes: −$7,782
• − Insurance: −$2,856
• − Repairs & maintenance: −$5,113
• − Management: −$5,113
• − Depreciation: −$12,742
• Taxable income: $5,771
• Est. tax owed @ 24.0%: −$1,385
• After-tax cash flow: $10,904/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
• 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

+376.1% since first listed

14 events — show timeline

• 2026-05-17 Pending — IBRMLS
• 2026-05-17 Pending — IBRMLS
• 2026-05-11 Contingent — IBRMLS
• 2026-05-11 Contingent — IBRMLS
• 2026-05-01 Price Changed $438,000 IBRMLS
• 2026-05-01 Price Changed $438,000 IBRMLS
• 2026-04-23 Price Changed $449,000 IBRMLS
• 2026-04-23 Price Changed $449,000 IBRMLS
• 2026-03-17 Listed $459,000 IBRMLS
• 2026-03-16 Listed $459,000 IBRMLS
• 2019-08-01 Sold (Public Records) $301,028 Public Records
• 2019-07-31 Sold (MLS) $301,028 IBRMLS
• 2019-04-29 Listed $285,000 IBRMLS
• 2001-07-11 Sold (Public Records) $92,000 Public Records

Property tax history

+0.0%/yr

Latest (2025): $7,782 · +2.3% YoY. Source: county tax records.