Closed

$570,000

502 University Ave, Ithaca, NY 14850

--beds

0baths

2,040sqft

Multi Family

Built in 1873

-- sqft lot

$589,600 Zestimate^®

$279/sqft

$2,606 Estimated rent

Home value

$589,600

$537,000 - $649,000

$2,606/mo

Zestimate^® history

Owner options

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$2,606/mo

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$2,606/mo

Rent Zestimate^®

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$4,169/mo

Est. payment

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$4,169/mo

Est. payment

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What's special

One of the oldest homes on University Avenue, the Mary B. Wood House was built for and occupied by Ezra Cornell's mother-in-law and is named after her. The house is Second Empire style and was built in 1873. Fully leased and the gross income for 2022.2023 year is $72,600.Converted to student housing in the 1980s, this house has 5 units, legal for 8 unrelated people. 2019 Certificate of Compliance to convey. Landlord's style is to pay utilities, though there are 3 heating systems and future owner could pass on heating costs for 2 of 5 units.3rd heating system heats 3 remaining apts. Landlord provides hot and cold water, most furnishings and all appliances on site. Seller to provide inventory of personal property. Tenants in this building have the right to use coin-op laundry located at 508 University, owned by the same landlord.

Facts & features

Interior

Bedrooms & bathrooms

Bathrooms: 0

Heating

Gas, Separate Meters, Baseboard, Forced Air, Hot Water

Cooling

Separate Meters

Appliances

Included: See Remarks
Laundry: Common Area

Features

Ceiling Fan(s)
Basement: Partially Finished,Walk-Out Access

Interior area

Total structure area: 2,040
Total interior livable area: 2,040 sqft

Property

Parking

Parking features: Concrete, Off Site, Other, Parking Available, One Space, On Street, See Remarks, Two or More Spaces

Lot

Size: 0.37 Acres
Dimensions: 67 x 243

Details

Parcel number: 500700 32.23

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Frame
Foundation: Stone

Condition

Year built: 1873

Utilities & green energy

Sewer: Connected
Water: Connected, Public
Utilities for property: Sewer Connected, Water Connected

Community & HOA

Community

Subdivision: University Hill Historic

Location

Region: Ithaca

Financial & listing details

Price per square foot: $279/sqft
Tax assessed value: $370,000
Annual tax amount: $12,950
Date on market: 12/6/2022
Tenant pays: Electricity

Price history

Date	Event	Price
10/31/2023	Sold	$570,000-4.2%$279/sqft
Source: NYSAMLSs #IB407834 Report a problem
2/19/2023	Pending sale	$595,000$292/sqft
Source: ITMLS #407834 Report a problem
12/18/2022	Contingent	$595,000$292/sqft
Source: ITMLS #407834 Report a problem
12/6/2022	Listed for sale	$595,000$292/sqft
Source: ITMLS #407834 Report a problem
11/5/2022	Listing removed	--
Source: ITMLS #406571 Report a problem
9/14/2022	Price change	$595,000-2.1%$292/sqft
Source: ITMLS #406571 Report a problem
5/4/2022	Listed for sale	$608,000-1.7%$298/sqft
Source: ITMLS #406571 Report a problem
4/16/2022	Listing removed	--
Source: ITMLS #405431 Report a problem
11/30/2021	Contingent	$618,450$303/sqft
Source: ITMLS #405431 Report a problem
10/26/2021	Listed for sale	$618,450$303/sqft
Source: ITMLS #405431 Report a problem