18 Baker Ave · Auburn, NY 13021

$49,900

None bd · None ba · 3,538 sqft · MultiFamily public records · 24 Days on market

Built 1900 10,187 sqft lot ↓ 8% since listing

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

5-UNIT STUDIO APARTMENT HOUSE. NEW ROOF 2010.DOUBLE LOT 121X168.LOTS OF PARKING. 2380 SQ. FT. OF LIVING AREA. OWNER FINANCING AVAILABLE W/ $15,000 DOWN, 25 YEARS W/ 5-YEAR BALLOON, 12%=$895.24 PER MONTH. ALL APARTMENTS ARE CURRENTLY RENTED 1 @300 PER MONTH, 2 @ $325,1@$350 & 1 @ $450.

Key facts

• 61 x 167 lot
• Full basement
• Covered porch areas

Tags

• 61 X 167 LOT
• FULL BASEMENT
• PUBLIC UTILITIES
• NATURAL GAS
• COVERED PORCH AREAS
• MULTIPLE RESIDENTIAL UNITS

Property features AI

Finance

• Other: Owner pays: other (see remarks)
• Financial info: Operating expenses and rent details: see remarks

Exterior

• Parking: One parking space; no driveway and no garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Resale property; Asphalt roof; Vinyl siding
• Construction: Vinyl siding exterior; Asphalt roof; Existing building
• Exterior features: Rectangular lot with approximate dimensions 61 x 167

Interior

• Kitchen: Gas water heater (see remarks)
• Bedrooms: 5 units total
• Heating & cooling: Gas heating (see remarks)
• Interior features: Full basement

🏷️ Possibly a rental listed for sale. The $49,900 price doesn't fit this home's estimated sale value (~$166,286) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.5% 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; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 2.17% ✓
• Cap rate: 18.55%
• Cash-on-cash: 43.77%
• DSCR: 2.95
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $166,286
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Washington St	0.33mi	5/2.0	3,513 (-1%)	8mo	$118,000	$34	77
4 Warren Ave	0.27mi	6/2.0	3,835 (+8%)	3mo	$90,000	$23	71
11 Sherwood St	0.26mi	8/3.0	3,680 (+4%)	14mo	$193,000	$52	69
46 Orchard St	0.24mi	6/3.0	3,158 (-11%)	2mo	$50,000	$16	69
48 Clark St	0.59mi	6/3.0	3,397 (-4%)	2mo	$169,600	$50	64
177 Genesee St	0.47mi	6/4.0	3,814 (+8%)	8mo	$180,000	$47	59
12 Easterly Ave	0.68mi	6/4.0	3,822 (+8%)	1mo	$220,000	$58	54
63-65 Washington St	0.54mi	6/2.0	3,032 (-14%)	4mo	$95,900	$32	48
15-17 Westlake Ave	0.58mi	4/2.0	3,220 (-9%)	13mo	$180,000	$56	47
106 Wall St	0.58mi	8/2.0	3,352 (-5%)	20mo	$60,000	$18	47
166 Van Anden St	0.65mi	7/3.0	3,682 (+4%)	21mo	$230,000	$62	45

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: 40.7%
• Equity multiple: 2.75×
• Total profit: $24,392
• Equity at exit: $7,440

10-year hold

• IRR: 47.0%
• Equity multiple: 5.52×
• Total profit: $63,105
• Equity at exit: $4,314

Cash invested: $13,972 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,082 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $510

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 48%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $49,900 Active 24 DOM
2. 2026-06-18
   days on market $49,900 Active 23 DOM
3. 2026-06-17
   days on market $49,900 Active 22 DOM
4. 2026-06-16
   days on market $49,900 Active 21 DOM
5. 2026-06-15
   days on market $49,900 Active 20 DOM
6. 2026-06-14
   days on market $49,900 Active 18 DOM
7. 2026-06-12
   pricedays on market $49,900 Active 17 DOM
8. 2026-06-09
   days on market $54,900 Active 14 DOM
9. 2026-06-08
   days on market $54,900 Active 13 DOM
10. 2026-06-07
    days on market $54,900 Active 12 DOM
11. 2026-06-05
    days on market $54,900 Active 9 DOM
12. 2026-06-03
    days on market $54,900 Active 8 DOM
13. 2026-06-02
    days on market $54,900 Active 7 DOM
14. 2026-06-01
    days on market $54,900 Active 6 DOM
15. 2026-05-31
    days on market $54,900 Active 5 DOM
16. 2026-05-30
    days on market $54,900 Active 4 DOM
17. 2026-05-26
    listed $54,900 Active
18. 2012-04-12
    soldstatus $62,000 291-char remark

    Show marketing remark (291 chars)

    5-UNIT STUDIO APARTMENT HOUSE. NEW ROOF 2010.DOUBLE LOT 121X168.LOTS OF PARKING. 2380 SQ. FT. OF LIVING AREA. OWNER FINANCING AVAILABLE W/ $15,000 DOWN, 25 YEARS W/ 5-YEAR BALLOON, 12%=$895.24 PER MONTH. ALL APARTMENTS ARE CURRENTLY RENTED 1 @300 PER MONTH, 2 @ $325,1@$350 & 1 @ $450.

19. 2010-12-02
    listed $64,900 291-char remark

    Show marketing remark (291 chars)

    5-UNIT STUDIO APARTMENT HOUSE. NEW ROOF 2010.DOUBLE LOT 121X168.LOTS OF PARKING. 2380 SQ. FT. OF LIVING AREA. OWNER FINANCING AVAILABLE W/ $15,000 DOWN, 25 YEARS W/ 5-YEAR BALLOON, 12%=$895.24 PER MONTH. ALL APARTMENTS ARE CURRENTLY RENTED 1 @300 PER MONTH, 2 @ $325,1@$350 & 1 @ $450.

20. 2008-12-19
    soldstatus $69,600
21. 1992-11-25
    soldstatus $60,000

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

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: $12,980
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$1,452
• Taxable income: $5,658
• Est. tax owed @ 24.0%: −$1,358
• After-tax cash flow: $4,758/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

-8.5% since first listed

5 events — show timeline

• 2026-05-26 Listed $54,900 CNYIS
• 2012-04-12 Sold (MLS) $62,000 CNYIS
• 2010-12-02 Listed $64,900 CNYIS
• 2008-12-19 Sold (Public Records) $69,600 Public Records
• 1992-11-25 Sold (Public Records) $60,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $3,719 · +10.8% YoY. Source: county tax records.