134 Poole Rd · Northwest Ithaca, NY 14850

$395,000

4 bd · 4.0 ba · 2,110 sqft · MultiFamily · 73 Days on market

Built 1978 Good condition 1.40 ac lot $187/sqft · 48% below area Est $766k · 48% under ↓ 1% since listing

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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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• Schools +5.4/10.0
• 1% rule +5.2/10.0
• Rent growth +3.8/5.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This unique duplex offers an extraordinary opportunity for both homeowners and or investors. Situated in a desirable location where its grandfathered property use sets it apart, this property boasts two side-by-side units, each thoughtfully designed to provide comfort and convenience. Each unit features two bedrooms, one and a half bathrooms, its own laundry facilities, a private back balcony, and separate utilities, ensuring privacy and ease of living. As you enter either apartment, you are greeted with a beautiful wooden staircase. As you move up in the unit you’ll find updated kitchens with stainless steel appliances, dark wood cabinetry, living spaces with tall, open ceilings, a half bath and an abundance of natural light. Take the sliding doors out to the balcony overlooking the wooded back yard and creek. Continue up the staircase to the open loft, perfect for office space, in home gym, reading nook, or play area. On the bottom level, the two bedrooms and full bathroom with laundry, under stair storage and outdoor access. Perfectly positioned for owner occupancy or as a lucrative investment, the duplex will be vacant as of July 31, allowing you to tailor its use to your needs. With no similar properties around, this is a rare chance to own a distinctive piece of Ithaca’s real estate landscape.

Key facts

• 1.4 acre lot
• Built 1978
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $395k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive. Per door: $224/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $395k).
• Recommended offer: $371k (6.0% below list) — sets the bar for market timing.

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).
• At $4,022/mo this rent would consume 68% 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 $3k of loan paydown is wiped out by about $12k 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 73 days — a 6% lower offer ($371k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $371,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 1.02% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.86%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (median comp): $766,471
• List price: $395,000
• Delta: -48.47%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.22% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.76×
• Total profit: $-26,254
• Equity at exit: $58,896

10-year hold

• IRR: 5.9%
• Equity multiple: 1.48×
• Total profit: $53,528
• Equity at exit: $34,152

Cash invested: $110,600 (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: 16.4×

Monthly cashflow live

• Estimated rent: $4,022 medium
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,925/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$845
• Net cashflow: $448

Break-even live

Break-even rent $3,455

Max offer price $395,000

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$4,022
Total (2 units)			$4,022

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $395,000 Active 73 DOM
2. 2026-06-18
   days on market $395,000 Active 72 DOM
3. 2026-06-17
   days on market $395,000 Active 71 DOM
4. 2026-06-16
   days on market $395,000 Active 70 DOM
5. 2026-06-15
   days on market $395,000 Active 69 DOM
6. 2026-06-14
   days on market $395,000 Active 67 DOM
7. 2026-06-13
   days on market $395,000 Active 66 DOM
8. 2026-06-10
   days on market $395,000 Active 64 DOM
9. 2026-06-09
   days on market $395,000 Active 63 DOM
10. 2026-06-08
    days on market $395,000 Active 62 DOM
11. 2026-06-07
    days on market $395,000 Active 61 DOM
12. 2026-06-05
    days on market $395,000 Active 58 DOM
13. 2026-06-02
    days on market $395,000 Active 56 DOM
14. 2026-06-01
    days on market $395,000 Active 55 DOM
15. 2026-05-31
    days on market $395,000 Active 54 DOM
16. 2026-05-30
    days on market $395,000 Active 53 DOM
17. 2026-05-04
    price $395,000 1332-char remark

    Show marketing remark (1332 chars)

    This unique duplex offers an extraordinary opportunity for both homeowners and or investors. Situated in a desirable location where its grandfathered property use sets it apart, this property boasts two side-by-side units, each thoughtfully designed to provide comfort and convenience. Each unit features two bedrooms, one and a half bathrooms, its own laundry facilities, a private back balcony, and separate utilities, ensuring privacy and ease of living. As you enter either apartment, you are greeted with a beautiful wooden staircase. As you move up in the unit you’ll find updated kitchens with stainless steel appliances, dark wood cabinetry, living spaces with tall, open ceilings, a half bath and an abundance of natural light. Take the sliding doors out to the balcony overlooking the wooded back yard and creek. Continue up the staircase to the open loft, perfect for office space, in home gym, reading nook, or play area. On the bottom level, the two bedrooms and full bathroom with laundry, under stair storage and outdoor access. Perfectly positioned for owner occupancy or as a lucrative investment, the duplex will be vacant as of July 31, allowing you to tailor its use to your needs. With no similar properties around, this is a rare chance to own a distinctive piece of Ithaca’s real estate landscape.

18. 2026-04-07
    listed $399,000 Active 1332-char remark

    Show marketing remark (1332 chars)

    This unique duplex offers an extraordinary opportunity for both homeowners and or investors. Situated in a desirable location where its grandfathered property use sets it apart, this property boasts two side-by-side units, each thoughtfully designed to provide comfort and convenience. Each unit features two bedrooms, one and a half bathrooms, its own laundry facilities, a private back balcony, and separate utilities, ensuring privacy and ease of living. As you enter either apartment, you are greeted with a beautiful wooden staircase. As you move up in the unit you’ll find updated kitchens with stainless steel appliances, dark wood cabinetry, living spaces with tall, open ceilings, a half bath and an abundance of natural light. Take the sliding doors out to the balcony overlooking the wooded back yard and creek. Continue up the staircase to the open loft, perfect for office space, in home gym, reading nook, or play area. On the bottom level, the two bedrooms and full bathroom with laundry, under stair storage and outdoor access. Perfectly positioned for owner occupancy or as a lucrative investment, the duplex will be vacant as of July 31, allowing you to tailor its use to your needs. With no similar properties around, this is a rare chance to own a distinctive piece of Ithaca’s real estate landscape.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 4 d/yr ≥96°F today · 9 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,264
• − Mortgage interest: −$22,126
• − Property taxes: −$5,925
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,861
• − Management: −$3,861
• − Depreciation: −$11,491
• Taxable loss: −$975
• Est. tax savings @ 24.0%: +$234
• After-tax cash flow: $5,606/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained two-unit duplex is in good condition with updates in the kitchen and bathrooms. It offers a good investment opportunity with potential for further value enhancement through exterior painting and landscaping.

Value-add opportunities

• Resale Paint the exterior siding — Fresh paint can significantly enhance curb appeal and property value.
• Resale Update the kitchen backsplash — A fresh backsplash can modernize the kitchen and add value.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more tenants.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Fresh paint can significantly enhance curb appeal and property value. ↑
• Resale Update the kitchen backsplash — A fresh backsplash can modernize the kitchen and add value. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

-1.0% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $395,000 IBRMLS
• 2026-04-07 Listed $399,000 IBRMLS