Is 134 Poole Rd in Ithaca, NY a good investment?

CashFlowRE grades it B with a 8.9% cap rate and $818/mo modeled cash flow at a $379,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 134 Poole Rd?

The modeled cap rate is 8.9% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $4,351/month, from CashFlowRE's rent model.

Duplex

B Composite 71.44

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 +24.9/30.0
ARV discount +15.0/15.0
DSCR +8.1/10.0
1% rule +6.5/10.0
Schools +5.5/10.0
Livability +3.9/5.0
Rent growth +3.8/5.0
Condition / age +3.8/5.0
Appreciation +0.0/10.0

$379,000

134 Poole Rd · Ithaca, NY 14850

4 bd · 4.0 ba · 2,110 sqft · MultiFamily · 6 Days on market

Built 1978 Good condition 1.40 ac lot $180/sqft · 47% below area Est $714k · 47% under ↓ 5% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

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

Listing remarks

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.

Key facts

Separate utilities
Private back balcony
Updated kitchens

What this means for you Summary

Snapshot

This is a 2 × 2-bed/1.5-bath units multifamily listed at $379k. Condition is rated good.
This rent per unit runs 37% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

At list price, monthly cash flow is $818 ($10k/yr) — positive. Per door: $409/mo.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($4k rent vs $379k).
Cap rate 8.9% vs local median 3.9% 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: Enfield School (math 10% / reading 30%, grade F, #1,945 of 2,108 statewide, top 94%, 164 students, 65% 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).
Market conditions: Rents rising fast (+5.2%/yr); 492 active listings in the ZIP; 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 $11k 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 $106k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
2 sale attempts 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.

Recommended offer $379,000

Questions for the listing agent

Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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.
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.
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: 1.15% ✓
Cap rate: 8.88%
Cash-on-cash: 9.25%
DSCR: 1.41
GRM: 7.3

CMA / ARV

ARV (median comp): $713,909
List price: $379,000
Delta: -46.91%
Verdict: UNDERPRICED
Comps: 1 within 2.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Vera Cir	0.10mi	3/2.5 (-1)	2,204 (+4%)	0mo	$395,000	$179	76
280 Coy Glen Rd	1.43mi	4/2.5	2,085 (-1%)	6mo	$469,000	$225	52
102 Longview Dr	0.31mi	4/2.0	2,026 (-4%)	34mo	$384,000	$190	51
205 Sheffield Rd	0.41mi	4/2.0	2,506 (+19%)	4mo	$369,900	$148	45
305 Woodgate Ln	0.42mi	4/3.0	2,364 (+12%)	18mo	$370,000	$157	42
213 Sheffield Rd	0.43mi	3/2.0 (-1)	1,716 (-19%)	25mo	$363,000	$212	22

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: 0.2%
Equity multiple: 1.01×
Total profit: $691
Equity at exit: $56,510

10-year hold

IRR: 12.0%
Equity multiple: 2.04×
Total profit: $110,621
Equity at exit: $32,769

Cash invested: $106,120 (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: 492
Price-to-rent: 14.5×

Monthly cashflow live

Estimated rent: $4,351 medium interval (Pro) →
Mortgage (P&I): −$1,988
Tax est. 1.5%: −$474 /mo · $5,685/yr
Insurance: −$158
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$914
Net cashflow: $818

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$4,350
#1	2	1.5	$2,175
#2	2	1.5	$2,175
Total (2 units)			$4,351

Break-even live

Break-even rent $3,315

Max offer price $379,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,080	-5% $949	+0% $818	+5% $687	+10% $556
Rent	-10% $474	-5% $646	+0% $818	+5% $990	+10% $1,162
Rate	-1.0pp $1,009	-0.5pp $915	base $818	+0.5pp $720	+1.0pp $620

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: $94,750
Closing costs: $11,370
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Maxs Dr Ithaca, NY	2.0	2.0	1488	$2,700	$1.81	140d	1	0.30mi

Property features AI

Exterior

Parking: Gravel parking
Utilities: Well water (see remarks/other noted)Septic tank sewerElectricity connectedPropane
Home design: Duplex2 stories
Construction: Wood sidingAsphalt roof (other/see remarks also noted)
Exterior features: Front porchIrregular, wooded lotTwo driveways

Interior

Kitchen: Electric water heater (serves kitchen appliances)
Flooring: CarpetHardwoodTileVaries
Bathrooms: 2 full bathrooms2 half bathrooms
Heating & cooling: Electric heatingBaseboard heatingHot water heatingCeiling fans for coolingWall unit air conditioning
Interior features: Ceiling fansCathedral ceilingsFinished basementOne fireplace

Listing history 50 events

2026-09-24

days on market $379,000 Active 6 DOM
2026-09-24

days on market $379,000 Active 5 DOM
2026-09-22

days on market $379,000 Active 4 DOM
2026-09-20

days on market $379,000 Active 2 DOM
2026-09-18

pricedays on marketlisting id $379,000 Active 1 DOM
2026-09-13

days on market $395,000 Active 159 DOM
2026-09-12

days on market $395,000 Active 158 DOM
2026-09-11

days on market $395,000 Active 157 DOM
2026-09-05

days on market $395,000 Active 151 DOM
2026-09-04

days on market $395,000 Active 150 DOM
2026-09-03

days on market $395,000 Active 149 DOM
2026-09-02

days on market $395,000 Active 148 DOM
2026-08-30

days on market $395,000 Active 145 DOM
2026-08-29

days on market $395,000 Active 144 DOM
2026-08-28

days on market $395,000 Active 143 DOM
2026-08-27

days on market $395,000 Active 142 DOM
2026-08-25

days on market $395,000 Active 140 DOM
2026-08-24

days on market $395,000 Active 139 DOM
2026-08-23

days on market $395,000 Active 138 DOM
2026-08-22

days on market $395,000 Active 137 DOM
2026-08-21

days on market $395,000 Active 136 DOM
2026-08-20

days on market $395,000 Active 135 DOM
2026-08-19

days on market $395,000 Active 134 DOM
2026-08-18

days on market $395,000 Active 133 DOM
2026-08-17

days on market $395,000 Active 132 DOM
2026-08-16

days on market $395,000 Active 131 DOM
2026-08-15

days on market $395,000 Active 130 DOM
2026-08-14

days on market $395,000 Active 129 DOM
2026-08-13

days on market $395,000 Active 128 DOM
2026-08-12

days on market $395,000 Active 127 DOM
2026-08-11

days on market $395,000 Active 126 DOM
2026-08-10

days on market $395,000 Active 125 DOM
2026-08-09

days on market $395,000 Active 124 DOM
2026-08-08

days on market $395,000 Active 123 DOM
2026-08-07

days on market $395,000 Active 122 DOM
2026-08-06

days on market $395,000 Active 121 DOM
2026-08-05

days on market $395,000 Active 120 DOM
2026-08-04

days on market $395,000 Active 119 DOM
2026-08-03

days on market $395,000 Active 118 DOM
2026-07-31

days on market $395,000 Active 115 DOM
2026-07-29

days on market $395,000 Active 113 DOM
2026-07-27

days on market $395,000 Active 111 DOM
2026-07-25

days on market $395,000 Active 109 DOM
2026-07-23

days on market $395,000 Active 107 DOM
2026-07-22

days on market $395,000 Active 106 DOM
2026-07-21

days on market $395,000 Active 105 DOM
2026-07-18

days on market $395,000 Active 102 DOM
2026-07-16

days on market $395,000 Active 100 DOM
2026-07-16

days on market $395,000 Active 99 DOM
2026-07-14

days on market $395,000 Active 98 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
🔥 Wildfire 1/10 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $52,212
− Mortgage interest: −$21,230
− Property taxes: −$5,685
− Insurance: −$1,895
− Repairs & maintenance: −$4,177
− Management: −$4,177
− Depreciation: −$11,025
Taxable income: $4,023

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$965
After-tax cash flow: $8,852/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 Est. rehab $10,550–$31,650 screening

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. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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.

D Composite school gradezoned avg 55/100

Zoned Schools

Elementary Enfield School F NY #1,945/2,108 Nat'l #33,283/41,679 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

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

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
#11 JPMorgan Chase New York $278.9B #21 Citigroup New York $170.8B #32 Goldman Sachs New York $126.9B #40 Morgan Stanley New York $107.3B #42 StoneX Group New York $99.9B #58 American Express New York $74.2B #98 TIAA New York $46.9B #273 Mastercard Purchase $28.2B #328 M&T Bank Buffalo $8.8B #392 Voya Financial New York $7.8B
Consumer Goods	9	$162B
#45 PepsiCo Purchase $91.9B #171 Colgate-Palmolive New York $19.5B #207 Estee Lauder New York $15.6B #246 Constellation Brands Victor $10.2B #422 PVH Corp New York $8.6B #364 Tapestry New York $6.7B #420 Ralph Lauren New York $6.6B #460 Steven Madden Long Island City $2.2B #498 Prestige Consumer Healthcare Tarrytown $1.1B
Insurance	4	$225B
#60 MetLife New York $71.0B #69 New York Life Insurance New York $62.6B #99 Travelers Companies New York $46.4B #101 AIG New York $44.9B
Telecommunications	2	$144B
#30 Verizon Communications New York $134.8B #297 Altice USA Long Island City $9.1B
Pharmaceuticals	2	$112B
#67 Pfizer New York $63.6B #94 Bristol-Myers Squibb New York $48.3B
Media / Entertainment	2	$69B
#295 Warner Bros. Discovery New York $39.9B #269 Paramount Global New York $28.9B

Price history

-5.0% since first listed

3 events — show timeline

2026-09-18 Listed $379,000 IBRMLS
2026-05-04 Price Changed $395,000 IBRMLS
2026-04-07 Listed $399,000 IBRMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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