2-4 Maple St · Auburn, NY 13021

$169,000

3 bd · 2.0 ba · 1,856 sqft · MultiFamily public records · 213 Days on market

Built 1930 2,640 sqft lot $91/sqft · 40% below area Est $283k · 40% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This two family rental home offers flexibility, comfort and long term stability in a quiet, desirable neighbor. The first floor apartment offers 2 bedrooms (one with a gas fireplace- could also be a family room), comfortable living and dining area with bright natural light throughout. Easy access to the full basement and washer/dryer. The upstairs apartment has a private front entrance, one bedroom, living room and eat in kitchen. The unit has a small enclosed back porch and a front open air balcony. Both units are in good condition, reflecting the care of being owned by the same family for over 30 years. The home is situated in an attractive area conveniently close to public transportation and major amenities. The property is within easy walking distance to Hoopes Park and Herman Ave Elementary school. This location offers easy access for commuters and tenants who enjoy urban conveniences. This 2 family home is ideal for investors or owner-occupants seeking a prime location. Easy to show!

Key facts

• Full basement
• 2,640 sq ft lot
• Parking

Tags

• TWO FAMILY RENTAL HOME
• FULL BASEMENT
• PRIVATE FRONT ENTRANCE
• SMALL ENCLOSED BACK PORCH
• FRONT OPEN AIR BALCONY
• EASY ACCESS FOR COMMUTERS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $726/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.6% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).
• At $3,372/mo this rent would consume 67% 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 $47k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.00% ✓
• Cap rate: 16.61%
• Cash-on-cash: 36.84%
• DSCR: 2.64
• GRM: 4.2

CMA / ARV

• ARV (median comp): $282,981
• List price: $169,000
• Delta: -40.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22-24 N Fulton St	0.56mi	3/2.0	1,836 (-1%)	7mo	$95,000	$52	66
49 Frances St	0.34mi	3/3.0	1,688 (-9%)	8mo	$120,000	$71	59
23-25 Hoffman St	0.49mi	4/2.0 (+1)	1,756 (-5%)	8mo	$130,000	$74	57
99 Owasco St	0.52mi	3/2.0	1,956 (+5%)	22mo	$145,000	$74	48
52 Grant Ave	0.51mi	3/3.0	1,796 (-3%)	22mo	$139,900	$78	48
47 Arterial W	0.58mi	4/2.0 (+1)	1,832 (-1%)	22mo	$96,000	$52	48
38 N Fulton St	0.60mi	4/2.0 (+1)	1,706 (-8%)	22mo	$149,900	$88	35

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: 32.7%
• Equity multiple: 2.38×
• Total profit: $65,224
• Equity at exit: $25,198

10-year hold

• IRR: 39.7%
• Equity multiple: 4.72×
• Total profit: $176,259
• Equity at exit: $14,612

Cash invested: $47,320 (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: 8.4×

Monthly cashflow live

• Estimated rent: $3,372 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$254 /mo · $3,053/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$708
• Net cashflow: $1,453

Break-even live

Break-even rent $1,533

Max offer price $169,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,372
Total (2 units)			$3,372

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
173 E Genesee St Unit 171 Auburn, NY	3.0	1.5	2000	$2,000	$1.00	44d	1	0.14mi
5 Sheridan St Auburn, NY	4.0	2.0	1788	$1,995	$1.12	44d	1	0.24mi
78 Chedell Pl Auburn, NY	2.0	1.0	2096	$1,100	$0.52	44d	1	1.24mi

Listing history 18 events

1. 2026-06-19
   days on market $169,000 Active 213 DOM
2. 2026-06-18
   days on market $169,000 Active 212 DOM
3. 2026-06-18
   price $169,000 Active 211 DOM
4. 2026-06-17
   days on market $189,900 Active 211 DOM
5. 2026-06-16
   days on market $189,900 Active 210 DOM
6. 2026-06-15
   days on market $189,900 Active 209 DOM
7. 2026-06-14
   days on market $189,900 Active 207 DOM
8. 2026-06-12
   days on market $189,900 Active 206 DOM
9. 2026-06-09
   days on market $189,900 Active 203 DOM
10. 2026-06-08
    days on market $189,900 Active 202 DOM
11. 2026-06-07
    days on market $189,900 Active 201 DOM
12. 2026-06-05
    days on market $189,900 Active 198 DOM
13. 2026-06-03
    days on market $189,900 Active 197 DOM
14. 2026-06-02
    days on market $189,900 Active 196 DOM
15. 2026-06-01
    days on market $189,900 Active 195 DOM
16. 2026-05-31
    days on market $189,900 Active 194 DOM
17. 2026-05-30
    days on market $189,900 Active 193 DOM
18. 2025-11-18
    listed $189,900 Active 1004-char remark

    Show marketing remark (1004 chars)

    This two family rental home offers flexibility, comfort and long term stability in a quiet, desirable neighbor. The first floor apartment offers 2 bedrooms (one with a gas fireplace- could also be a family room), comfortable living and dining area with bright natural light throughout. Easy access to the full basement and washer/dryer. The upstairs apartment has a private front entrance, one bedroom, living room and eat in kitchen. The unit has a small enclosed back porch and a front open air balcony. Both units are in good condition, reflecting the care of being owned by the same family for over 30 years. The home is situated in an attractive area conveniently close to public transportation and major amenities. The property is within easy walking distance to Hoopes Park and Herman Ave Elementary school. This location offers easy access for commuters and tenants who enjoy urban conveniences. This 2 family home is ideal for investors or owner-occupants seeking a prime location. Easy to show!

ⓘ 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: $3,053 · $254/mo
• Projected year-2 tax: $3,053 · $254/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥95°F today · 15 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: $40,464
• − Mortgage interest: −$9,467
• − Property taxes: −$3,053
• − Insurance: −$845
• − Repairs & maintenance: −$3,237
• − Management: −$3,237
• − Depreciation: −$4,916
• Taxable income: $15,709
• Est. tax owed @ 24.0%: −$3,770
• After-tax cash flow: $13,664/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

1 event — show timeline

• 2025-11-18 Listed $189,900 CNYIS

Property tax history

+3.5%/yr

Latest (2025): $3,053 · +10.8% YoY. Source: county tax records.