608 E State StIthacaNY14850
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Ithaca at 608 E State St, Ithaca, NY, 14850 offers $4,480/mo rent that, after a $3,891/mo payment. Total monthly income is $4,480/mo. Return on cash invested measures 16.26% in year one, and rental yield stands at 6.76% at a $795,000 entry. Equity gained on principal adds $5,130/yr while 5% annual appreciation compounds into $219,644 by year five. Five-year ROI records 83.89% and total cumulative return in cash reaches $219,406. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $4,480/mo property income versus a $3,891/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1880
0.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 14850, Ithaca, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,729 (100%) |
| Owner Occupied HU | 11,235 (34.3%) |
| Renter Occupied HU | 17,703 (54.1%) |
| Vacant Housing Units | 3,791 (11.6%) |
| Median Home Value | $378,270 |
| Average Home Value | $423,650 |
Housing Distribution
Address Breakdown
Residential
28,013
Single Family
20,515
Multi-Family
7,498
Businesses
1,944
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Listed by: Carol Bushberg • Warren Real Estate of Ithaca Inc.
Mls Name: ITMLS
Mls Provider:
Mls ID: #R1528809
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.