213 Dearborn Place, Ithaca, NY 14850
Local realty services provided by:CENTURY 21 Bridgeway Realty
213 Dearborn Place,Ithaca, NY 14850
$850,000
- 8 Beds
- 4 Baths
- 4,346 sq. ft.
- Multi-family
- Active
Listed by: karen hollands
Office: howard hanna s tier inc
MLS#:R1696631
Source:NY_GENRIS
Price summary
- Price:$850,000
- Price per sq. ft.:$195.58
About this home
An exceptional investment opportunity in Ithaca's nationally recognized Cornell Heights Historic District, just steps from Cornell University's North Campus. Combining historic character, proven rental performance, and significant upside potential, this well-maintained income property is legally approved for occupancy by up to 13 unrelated individuals within the R-2A zoning district, offering remarkable flexibility for investors. Currently configured for strong cash flow, the property features three separate kitchens, four full bathrooms, one half bath, and a flexible rental layout consisting of a private one-bedroom lower-level apartment, a two-bedroom main-level apartment, and a five bedroom apartment occupying the second and third floors. The current configuration generates $$89,400 in annual gross rental income, while the property's legal occupancy provides an attractive value-add opportunity for future income growth. Rich in architectural character, the residence showcases original hardwood floors, classic woodwork, high ceilings, oversized windows, and generously proportioned living spaces that continue to attract tenants year after year. The updated kitchens and baths blend modern functionality with the home's historic charm, while the spacious bedrooms, multiple common areas, and flexible floor plan accommodate a variety of rental configurations. Outside, the property offers off-street parking, an amenity in high demand for Cornell-area rentals, along with an unbeatable location within easy walking distance of Cornell University's North Campus, nearby bus routes, dining, and shopping. The enduring appeal of the Cornell Heights Historic District, combined with consistent rental demand and legal occupancy for up to 13 unrelated residents, makes 213 Dearborn Place a compelling opportunity for investors seeking both immediate cash flow and long-term appreciation....
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Home facts
- Year built:1908
- Listing ID #:R1696631
- Added:1 day(s) ago
- Updated:July 10, 2026 at 09:53 PM
Rooms and interior
- Bedrooms:8
- Total bathrooms:4
- Full bathrooms:3
- Half bathrooms:1
- Flooring:Hardwood, Tile, Varies
- Basement:Yes
- Basement Description:Partially Finished
- Living area:4,346 sq. ft.
Heating and cooling
- Heating:Gas, Hot Water
Structure and exterior
- Roof:Shingle
- Year built:1908
- Building area:4,346 sq. ft.
- Lot area:0.18 Acres
- Lot Features:Near Public Transit, Rectangular, Residential Lot
- Architectural Style:Triplex
- Construction Materials:Stucco
- Foundation Description:Poured
- Levels:3 Stories
Schools
- Elementary school:Cayuga Heights Elementary
Utilities
- Water:Connected, Public, Water Connected
- Sewer:Connected, Sewer Connected
Finances and disclosures
- Price:$850,000
- Price per sq. ft.:$195.58
- Tax amount:$14,490
Parking
- Parking description:Paved
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