193 Cottage St · Auburn, NY 13021

$169,000

3 bd · 1.0 ba · 3,969 sqft · SingleFamily public records · 9 Days on market

Built 1944 10,221 sqft lot

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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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +6.1/10.0
• 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

Listing remarks MLS

Home/Occupation Opportunity!! Bright, 1459 Sq. Ft. ,3BR house with hardwood floors in entire living area (except kitchen & bath). Gas fireplace and bay window in Living Room. Freshly painted, with lots of closets and storage. Residence adjoins 2510 Sq. Ft. former Restaurant/Tavern containing commercial kitchen, walk-in coolers, beautiful L-shaped bar, dining room w/ Terrazzo floor, game area, and Men's and Women's toilets. Easily restored to service with proper approvals from Code, Zoning Departments. Many other possible uses: Day Care, Business Offices, Art/Dance/Photo Studios. See Now!

Key facts

• Updated siding
• Fenced in section
• Updated windows

Tags

• UNHEATED WORKSHOP SPACE
• FENCED IN SECTION
• UPDATED ROOF
• UPDATED SIDING
• UPDATED FLOORING
• UPDATED WINDOWS

Property features AI

Finance

• Other: Zoned Residential 2 Unit; Two total units (multi-family); One separate gas meter; One separate electric meter; Operating expense details available in remarks
• Financial info: Owner pays all utilities, grounds care, snow removal and trash collection; Rent can include all utilities, common area maintenance, gardener, snow removal and trash collection

Exterior

• Parking: One-car garage with opener; Common parking areas; Gravel and paved surfaces; Two or more parking spaces
• Security: Owned security system
• Utilities: Cable available; High-speed internet available; Public water connected; Sewer connected; Circuit breaker electrical
• Home design: 2-story property; Existing construction
• Construction: Blown-in insulation; Stone exterior; Stucco exterior; Architectural, flat, and shingle roof types; Block and stone foundation
• Exterior features: Partial fencing; Patio; Corner lot; Near public transit; Rectangular residential lot; City street frontage

Interior

• Flooring: Carpet; Hardwood; Luxury vinyl; Vinyl; Varies
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Gas heating; Forced air; Multiple heating units
• Interior features: Ceiling fans; Sliding glass doors; Storage; Natural woodwork; Thermal windows; Sliding doors; No stairs (accessible)
• Laundry & utility: Washer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).

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: amenities D-, commute F, employment D-.
• 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.
• Zoned schools: Casey Park Elementary School (math 13% / reading 25%, grade F, #2,000 of 2,108 statewide, top 95%, 392 students, 78% FRL); Auburn Junior High School (math 16% / reading 26%, grade F, #661 of 729 statewide, top 91%, 598 students, 81% FRL); Auburn High School (math 88% / reading 84%, grade A, #347 of 1,100 statewide, top 32%, 1,183 students, 51% FRL) — zoned schools average 70% FRL vs 42% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 223 active listings in the ZIP; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).
• This rent runs 37% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $60k; list at $169k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,000

Questions for the listing agent

1. Built in 1944 — 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.90%
• DSCR: 1.31
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-9,990
• Equity at exit: $25,198

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $13,858
• 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: 223
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,882 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$258 /mo · $3,094/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $272

Break-even live

Break-even rent $1,537

Max offer price $169,000

Occupancy floor 81%

Sensitivity live

Price	-10% $368	-5% $320	+0% $272	+5% $224	+10% $177
Rent	-10% $124	-5% $198	+0% $272	+5% $347	+10% $421
Rate	-1.0pp $357	-0.5pp $315	base $272	+0.5pp $228	+1.0pp $184

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: —

Listing history 12 events

1. 2026-06-05
   statusdays on market $169,000 Pending 9 DOM
2. 2026-06-03
   days on market $169,000 Active Under Contract 8 DOM
3. 2026-06-02
   days on market $169,000 Active Under Contract 7 DOM
4. 2026-06-01
   days on market $169,000 Active Under Contract 6 DOM
5. 2026-05-31
   days on market $169,000 Active Under Contract 5 DOM
6. 2026-05-30
   statusdays on market $169,000 Active Under Contract 4 DOM
7. 2026-05-26
   listed $169,000 Active
8. 2012-06-07
   historical 602-char remark

   Show marketing remark (602 chars)

   Home/Occupation Opportunity!! Bright, 1459 Sq. Ft. ,3BR house with hardwood floors in entire living area (except kitchen & bath). Gas fireplace and bay window in Living Room. Freshly painted, with lots of closets and storage. Residence adjoins 2510 Sq. Ft. former Restaurant/Tavern containing commercial kitchen, walk-in coolers, beautiful L-shaped bar, dining room w/ Terrazzo floor, game area, and Men's and Women's toilets. Easily restored to service with proper approvals from Code, Zoning Departments. Many other possible uses: Day Care, Business Offices, Art/Dance/Photo Studios. See Now!

9. 2012-06-05
   soldstatus $60,000 602-char remark

   Show marketing remark (602 chars)

   Home/Occupation Opportunity!! Bright, 1459 Sq. Ft. ,3BR house with hardwood floors in entire living area (except kitchen & bath). Gas fireplace and bay window in Living Room. Freshly painted, with lots of closets and storage. Residence adjoins 2510 Sq. Ft. former Restaurant/Tavern containing commercial kitchen, walk-in coolers, beautiful L-shaped bar, dining room w/ Terrazzo floor, game area, and Men's and Women's toilets. Easily restored to service with proper approvals from Code, Zoning Departments. Many other possible uses: Day Care, Business Offices, Art/Dance/Photo Studios. See Now!

10. 2012-06-05
    soldstatus $60,000 602-char remark

    Show marketing remark (602 chars)

    Home/Occupation Opportunity!! Bright, 1459 Sq. Ft. ,3BR house with hardwood floors in entire living area (except kitchen & bath). Gas fireplace and bay window in Living Room. Freshly painted, with lots of closets and storage. Residence adjoins 2510 Sq. Ft. former Restaurant/Tavern containing commercial kitchen, walk-in coolers, beautiful L-shaped bar, dining room w/ Terrazzo floor, game area, and Men's and Women's toilets. Easily restored to service with proper approvals from Code, Zoning Departments. Many other possible uses: Day Care, Business Offices, Art/Dance/Photo Studios. See Now!

11. 2011-04-19
    listed $89,900 602-char remark

    Show marketing remark (602 chars)

    Home/Occupation Opportunity!! Bright, 1459 Sq. Ft. ,3BR house with hardwood floors in entire living area (except kitchen & bath). Gas fireplace and bay window in Living Room. Freshly painted, with lots of closets and storage. Residence adjoins 2510 Sq. Ft. former Restaurant/Tavern containing commercial kitchen, walk-in coolers, beautiful L-shaped bar, dining room w/ Terrazzo floor, game area, and Men's and Women's toilets. Easily restored to service with proper approvals from Code, Zoning Departments. Many other possible uses: Day Care, Business Offices, Art/Dance/Photo Studios. See Now!

12. 2011-04-19
    listed $89,900 602-char remark

    Show marketing remark (602 chars)

    Home/Occupation Opportunity!! Bright, 1459 Sq. Ft. ,3BR house with hardwood floors in entire living area (except kitchen & bath). Gas fireplace and bay window in Living Room. Freshly painted, with lots of closets and storage. Residence adjoins 2510 Sq. Ft. former Restaurant/Tavern containing commercial kitchen, walk-in coolers, beautiful L-shaped bar, dining room w/ Terrazzo floor, game area, and Men's and Women's toilets. Easily restored to service with proper approvals from Code, Zoning Departments. Many other possible uses: Day Care, Business Offices, Art/Dance/Photo Studios. See Now!

ⓘ 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: $3,094 · $258/mo
• Projected year-2 tax: $3,094 · $258/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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $22,583
• − Mortgage interest: −$9,467
• − Property taxes: −$3,094
• − Insurance: −$845
• − Repairs & maintenance: −$1,807
• − Management: −$1,807
• − Depreciation: −$4,916
• Taxable income: $648
• Est. tax owed @ 24.0%: −$155
• After-tax cash flow: $3,111/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

+88.0% since first listed

6 events — show timeline

• 2026-05-26 Listed $169,000 CNYIS
• 2012-06-07 Listing Removed — CNYIS
• 2012-06-05 Sold (MLS) $60,000 CNYIS
• 2012-06-05 Sold (MLS) $60,000 CNYIS
• 2011-04-19 Listed $89,900 CNYIS
• 2011-04-19 Listed $89,900 CNYIS

Property tax history

+15.8%/yr

Latest (2025): $3,094 · +10.8% YoY. Source: county tax records.