10 Chase St · Auburn, NY 13021

$178,900

4 bd · 2.5 ba · 1,632 sqft · MultiFamily public records · 2 Days on market

Built 1910 6,311 sqft lot Est $126k · 42% over

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Why this score? — see what drove the C+ 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Per the city of Auburn this is a single family.

Key facts

• Recent upgrades
• New electric
• Granite surfaces

Tags

• TWO-UNIT RENTAL PROPERTY
• PRIVATE TWO-CAR PAVED DRIVEWAY
• GRANITE SURFACES
• IN-UNIT WASHERS AND DRYERS
• RECENT UPGRADES
• NEW ELECTRIC

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $956 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Cap rate 12.7% vs local median 7.6% in Auburn — 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 74/100 on livability (#298 in NY, #4,814 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities D-, commute F.
• Auburn City School District (town): math 31% / reading 39% proficiency, ranked #558 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 221 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).
• At $2,667/mo this rent would consume 53% of the median local household income ($61k/yr) (locally 1449% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Cayuga County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 11y ago 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.
• Current owner paid $40k; list at $179k implies a 347% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,900

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.49% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.90%
• DSCR: 2.02
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $125,664
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Cottage St	0.35mi	4/2.0	1,688 (+3%)	12mo	$128,500	$76	66
5 Liberty St	0.48mi	4/2.0	1,716 (+5%)	3mo	$152,000	$89	65
34 Pulaski St	0.11mi	3/2.0 (-1)	1,728 (+6%)	23mo	$120,000	$69	59
205 Seymour St	0.37mi	4/2.0	1,528 (-6%)	16mo	$117,000	$77	56
5 West St	0.67mi	4/2.0	1,770 (+8%)	1mo	$46,000	$26	52
131 Vananden	0.52mi	3/2.0 (-1)	1,472 (-10%)	2mo	$126,000	$86	51
78-80 Van Anden St	0.38mi	4/2.0	1,772 (+9%)	20mo	$155,000	$87	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.64×
• Total profit: $31,890
• Equity at exit: $26,675

10-year hold

• IRR: 24.5%
• Equity multiple: 3.12×
• Total profit: $106,127
• Equity at exit: $15,468

Cash invested: $50,092 (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 13021

• Home prices YoY: -22.4%
• Active inventory: 221
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,667 medium
• Mortgage (P&I): −$938
• Tax from tax record: −$138 /mo · $1,658/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $956

Break-even live

Break-even rent $1,457

Max offer price $178,900

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,666
Total (2 units)			$2,667

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: $44,725
• Closing costs: $5,367
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Sheridan St Auburn, NY	4.0	2.0	1788	$1,995	$1.12	43d	1	1.16mi
173 E Genesee St Unit 171 Auburn, NY	3.0	1.5	2000	$2,000	$1.00	43d	1	1.44mi

Listing history 15 events

1. 2026-03-27
   status Pending
2. 2026-03-27
   listed $178,900 Active
3. 2026-03-27
   soldstatus Closed
4. 2026-03-25
   listed $178,900 Active
5. 2023-11-09
   soldstatus $40,000 Closed Sale or Rented 47-char remark

   Show marketing remark (47 chars)

   Per the city of Auburn this is a single family.

6. 2023-08-10
   status Pending Sale 47-char remark

   Show marketing remark (47 chars)

   Per the city of Auburn this is a single family.

7. 2023-08-06
   listed $79,900 Active 47-char remark

   Show marketing remark (47 chars)

   Per the city of Auburn this is a single family.

8. 2023-07-31
   historical
9. 2023-07-12
   listed $79,900 Active
10. 2019-10-07
    soldstatus $35,000 Closed Sale or Rented
11. 2019-09-04
    status Pending Sale
12. 2019-06-29
    listed $44,900 Active
13. 2015-06-26
    soldstatus $30,000 Closed Sale or Rented
14. 2015-06-05
    historical Continue to Show- Under Contract
15. 2015-05-20
    listed $39,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,658 · $138/mo
• Projected year-2 tax: $2,341 · $195/mo
• Expected delta: +$683/yr (+$57/mo · 41.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,004
• − Mortgage interest: −$10,021
• − Property taxes: −$1,658
• − Insurance: −$894
• − Repairs & maintenance: −$2,560
• − Management: −$2,560
• − Depreciation: −$5,204
• Taxable income: $9,105
• Est. tax owed @ 24.0%: −$2,185
• After-tax cash flow: $9,287/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.

Schools (NCES district)

• District: Auburn City School District
• NCES district ID: 3603480
• Math proficiency: 31% ▼ -17.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $43,567
• Composite: 29.71/100
• National rank: #6452
• State rank: #558 of 590 in NY

Livability — Auburn

• Score: 74/100
• State rank: #298
• US rank: #4814

Category grades

Amenities D- Commute F Cost of living A+ Crime B Employment D- Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, NY
• County: Cayuga County · 37,247 people
• City population: 37,247
• Metro: Auburn, NY
• Population (ZIP): 37,247
• Household income: $60,712
• Rent vs Own: 37.8% rent · 62.2% own
• Severe rent burden: 1449.0

Population outlook (Cayuga County) Hauer SSP2

• Today (2025): 74,820 people
• By 2030: 72,402 · -3.2%
• By 2040: 66,917 · -10.6%
• By 2050: 61,007 · -18.5%
• By 2075: 48,047 · -35.8%
• By 2100: 34,512 · -53.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Black 3% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Subsaharan African 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Cayuga

• 2024 margin: R (+13.0) · D 43.5% · R 56.5%
• 2008→2024 swing: -21.5pp toward R · 2008: 8.5pp · 2024: -13.0pp
• All cycles: 2024: R+13.0 2020: R+9.2 2016: R+13.2 2012: D+10.8 2008: D+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.53%
• Current HPI: 338.5537
• Rent YoY: —
• Metro: Auburn, 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
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+348.4% since first listed

15 events — show timeline

• 2026-03-27 Pending — CNYIS
• 2026-03-27 Listed $178,900 CNYIS
• 2026-03-27 Sold (MLS) — CNYIS
• 2026-03-25 Listed $178,900 CNYIS
• 2023-11-09 Sold (MLS) $40,000 UNYREIS
• 2023-08-10 Pending — UNYREIS
• 2023-08-06 Listed $79,900 UNYREIS
• 2023-07-31 Listing Removed — UNYREIS
• 2023-07-12 Listed $79,900 UNYREIS
• 2019-10-07 Sold (MLS) $35,000 CNYIS
• 2019-09-04 Pending — CNYIS
• 2019-06-29 Listed $44,900 CNYIS
• 2015-06-26 Sold (MLS) $30,000 CNYIS
• 2015-06-05 Contingent — CNYIS
• 2015-05-20 Listed $39,900 CNYIS

Property tax history

+2.2%/yr

Latest (2025): $1,658 · +57.3% YoY. Source: county tax records.