508 University Ave
Ithaca, NY 14850
- 8 Beds
- 2,452 sqft
8 Beds
2,452 sqft
Local Information
-- mins to
Home Highlights
Property Type
Multi-Family
Year Built
1895
Living Area
2,452 sqft
Price/Sqft
$243
About this House
This house was built as a rooming house and income property by Evelyn Powelson, who lived at 504 University. This house has 5 units, legal for 12 unrelated tenants. Owner working on new C of C, including fresh electrical cert. Gross income is $81,200 includ. $2k annually from 2 washers and 3 dryers in laundry. Tenants in neighboring bldgs also use laundry machines. 2 Navien combo boilers/hot water heaters; one serves ground floor apt and the other heats the other units.One of the Naviens makes hot water for the laundry. Seller pays for all heat and hot water, including laundry. 2 units on main level pay their own electric, but landlord pays all other electricity. Apts are provided partially furnished; seller to provide inventory of furniture and appliances.
508 University Ave, Ithaca, NY 14850 is a 8 bedroom, 2,452 sqft multi-family built in 1895. It last sold for $607,000 on Nov 8, 2023 (5% below the $639,000 asking price). It is currently off market. The Trulia Estimate is $596,600, with a rent estimate of $1,473/month.
Home Details for 508 University Ave
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MLS Status: Closed |
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Interior Details Basement: Full,Partially Finished,Walk-Out Access |
Beds & Baths Number of Bedrooms: 8 |
Dimensions and Layout Living Area: 2452 Square Feet |
Appliances & Utilities Utilities: Sewer Connected, Water ConnectedAppliances: See RemarksLaundry: Common Area,Coin-operated |
Heating & Cooling Heating: Gas,Separate Meters,Baseboard,Hot WaterAir Conditioning: Separate MetersHas HeatingHeating Fuel: Gas |
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Exterior Home Features Roof: AsphaltFoundation: Stone |
Parking & Garage Parking: Concrete,No Driveway,Off Site,Other,Parking Available,One Space,On Street,See Remarks,Two or More Spaces |
Water & Sewer Sewer: Connected |
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Year Built Year Built: 1895 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family |
Building Construction Materials: Frame |
Property Information Parcel Number: 500700 32.21 |
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Price List Price: $639,000 |
Status Change & Dates Off Market Date: Wed Nov 08 2023Possession Timing: Close Of Escrow |
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Direction & Address City: Ithaca CityCommunity: University Hill Historic |
School Information Elementary School: Fall Creek ElementaryElementary School District: IthacaJr High / Middle School: Boynton MiddleJr High / Middle School District: IthacaHigh School District: Ithaca |
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Building Area Building Area: 2452 Square Feet |
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Community Features: Laundry FacilitiesUnits in Building: 4 |
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Association for this Listing: Ithaca Board of Realtors |
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Lot Area: 6969.6 sqft |
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Listing Terms: Conventional |
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Expense Tenant Pays: Electricity |
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BasementMls Number: IB408818Living Area Range Units: Square FeetUniversal Property Id: US-36109-N-500700 3221-R-N |
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Laundry Facilities |
Last check for updates: about 15 hours ago
Listed by Carol Bushberg, (607) 279-4530
Carol Bushberg Real Estate
Edward Finegan, (607) 279-0234
EDWARD J FINEGAN
Bought with: Carol Bushberg, (607) 279-4530, Carol Bushberg Real Estate
Originating MLS: Ithaca Board of Realtors
Source: NYSAMLSs, MLS#IB408818

Price History for 508 University Ave
| Date | Price | Event | Source |
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| 11/08/2023 | $607,000 | Sold | NYSAMLSs #IB408818 |
| 09/26/2023 | $639,000 | Pending | ITMLS #408818 |
| 07/05/2023 | $639,000 | Contingent | ITMLS #408818 |
| 06/17/2023 | $639,000 | Listed For Sale | ITMLS #408818 |
| 09/09/2022 | ListingRemoved | ITMLS #406574 | |
| 05/04/2022 | $644,000 | Listed For Sale | ITMLS #406574 |
| 04/16/2022 | ListingRemoved | ITMLS #405433 | |
| 12/06/2021 | $654,150 | Contingent | ITMLS #405433 |
| 10/26/2021 | $654,150 | Listed For Sale | ITMLS #405433 |
Market trends in Ithaca
Last updated June 2026
Avg. sale price
$390K
$12.67KMoM
Sale-to-List Price
98.0%
0.3%MoM
Price per sq ft
$234
$6MoM
Available listings
143
13MoM
Comparable Sales for 508 University Ave
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.09 | Multi-Family Home | $445,000 | 04/29/26 | 5 | 3 | 2,661 | |
0.30 | Multi-Family Home | $580,000 | 08/19/25 | 7 | 3 | 2,666 | |
0.20 | Multi-Family Home | $465,000 | 09/30/25 | 5 | 2 | 2,408 | |
0.32 | Multi-Family Home | $529,000 | 08/06/25 | 6 | 3 | 2,482 | |
0.34 | Multi-Family Home | $495,000 | 09/04/25 | 5 | 4 | 2,296 | |
0.22 | Multi-Family Home | $429,000 | 07/17/26 | 4 | 2 | 1,590 | |
0.33 | Multi-Family Home | $497,500 | 06/22/26 | 6 | 2 | 2,234 | |
0.34 | Multi-Family Home | $320,000 | 03/05/26 | 4 | 2 | 1,792 |
Nearby homes
Get a sense of prices in the area by checking nearby homes.Assigned Schools
These are the assigned schools for 508 University Ave.
What Locals Say about Ithaca
At least 179 Trulia users voted on each feature.
92 % Say it's dog friendly
81 % Say car is needed
79 % Say there's wildlife
76 % Say parking is easy
73 % Say people would walk alone at night
64 % Say yards are well-kept
62 % Say kids play outside
60 % Say it's quiet
59 % Say neighbors are friendly
58 % Say there are sidewalks
56 % Say there's holiday spirit
54 % Say it's walkable to restaurants
49 % Say they plan to stay for at least 5 years
45 % Say it's walkable to grocery stores
43 % Say streets are well-lit
39 % Say there are community events
Sourced by Trulia users. Learn more about our methodology.
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