41 Walnut St · Auburn, NY 13021

$144,000

6 bd · 3.0 ba · 2,242 sqft · MultiFamily · 78 Days on market

Built 1900 Fair condition 4,034 sqft lot $64/sqft · 44% below area Est $259k · 44% under

---

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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0
• 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

Rare East End side-by-side duplex offering two bedrooms on each side with all separate utilities — a fantastic opportunity for both investors and owner-occupants. This well-maintained property features numerous updates and upgrades throughout, providing peace of mind and added value. Conveniently located within walking distance to schools and parks, this property combines strong rental potential with a desirable neighborhood setting. A must-see opportunity in the East End!

Key facts

• Separate utilities
• East end duplex
• 4,034 sq ft lot

Tags

• EAST END DUPLEX
• TWO BEDROOMS ON EACH SIDE
• SEPARATE UTILITIES
• WALKING DISTANCE TO SCHOOLS
• WALKING DISTANCE TO PARKS
• STRONG RENTAL POTENTIAL

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $144k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $144k).
• Recommended offer: $135k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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).
• This rent runs 40% 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 $996 of loan paydown is wiped out by about $4k 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 $40k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $100k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $135,360 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.39% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.50%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

• ARV (median comp): $258,554
• List price: $144,000
• Delta: -44.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Perry St	0.32mi	5/3.0 (-1)	2,248 (+0%)	19mo	$217,900	$97	64
13 School St	0.54mi	6/2.0	2,304 (+3%)	10mo	$177,000	$77	58
28 Bradford St	0.10mi	6/2.0	2,520 (+12%)	18mo	$125,000	$50	56
152 S Fulton St #150	0.23mi	5/2.0 (-1)	1,996 (-11%)	9mo	$115,000	$58	55
16 Mattie St	0.48mi	6/2.0	2,527 (+13%)	2mo	$185,000	$73	51
19 School St	0.54mi	6/2.0	2,520 (+12%)	14mo	$160,100	$64	38

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: 8.9%
• Equity multiple: 1.35×
• Total profit: $14,152
• Equity at exit: $21,471

10-year hold

• IRR: 18.1%
• Equity multiple: 2.50×
• Total profit: $60,676
• Equity at exit: $12,450

Cash invested: $40,320 (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: 6.0×

Monthly cashflow live

• Estimated rent: $2,004 medium
• Mortgage (P&I): −$755
• Tax est. 1.5%: −$180 /mo · $2,160/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $588

Break-even live

Break-even rent $1,260

Max offer price $144,000

Occupancy floor 66%

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-20
   status Pending 483-char remark

   Show marketing remark (483 chars)

   Rare East End side-by-side duplex offering two bedrooms on each side with all separate utilities — a fantastic opportunity for both investors and owner-occupants. This well-maintained property features numerous updates and upgrades throughout, providing peace of mind and added value. Conveniently located within walking distance to schools and parks, this property combines strong rental potential with a desirable neighborhood setting. A must-see opportunity in the East End!

2. 2026-04-13
   price $144,000 483-char remark

   Show marketing remark (483 chars)

   Rare East End side-by-side duplex offering two bedrooms on each side with all separate utilities — a fantastic opportunity for both investors and owner-occupants. This well-maintained property features numerous updates and upgrades throughout, providing peace of mind and added value. Conveniently located within walking distance to schools and parks, this property combines strong rental potential with a desirable neighborhood setting. A must-see opportunity in the East End!

3. 2026-03-02
   listed $149,000 Active 483-char remark

   Show marketing remark (483 chars)

   Rare East End side-by-side duplex offering two bedrooms on each side with all separate utilities — a fantastic opportunity for both investors and owner-occupants. This well-maintained property features numerous updates and upgrades throughout, providing peace of mind and added value. Conveniently located within walking distance to schools and parks, this property combines strong rental potential with a desirable neighborhood setting. A must-see opportunity in the East End!

4. 2022-03-11
   soldstatus $99,500 Closed Sale or Rented 62-char remark

   Show marketing remark (62 chars)

   THIS IS A TEN HOUSE PACKAGE DEAL THAT INCLUDES 23 UNITS TOTAL.

5. 2022-01-04
   status Pending Sale 62-char remark

   Show marketing remark (62 chars)

   THIS IS A TEN HOUSE PACKAGE DEAL THAT INCLUDES 23 UNITS TOTAL.

6. 2022-01-04
   listed $99,500 Active 62-char remark

   Show marketing remark (62 chars)

   THIS IS A TEN HOUSE PACKAGE DEAL THAT INCLUDES 23 UNITS TOTAL.

ⓘ 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 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: $24,049
• − Mortgage interest: −$8,066
• − Property taxes: −$2,160
• − Insurance: −$720
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − Depreciation: −$4,189
• Taxable income: $5,066
• Est. tax owed @ 24.0%: −$1,216
• After-tax cash flow: $5,841/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.

Condition & rehab AI · 1 photo

Fair 40/100 Moderate rehab

This multi-family property requires moderate renovations to improve its exterior, interior, and curb appeal, significantly increasing its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major interior walls — Peeling paint
• Major flooring — Worn carpet

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both replace carpet — Improves living space and rental appeal
• Both repair and paint interior walls — Restores interior condition and enhances rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior walls · Peeling paint	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both replace carpet — Improves living space and rental appeal ↑
• Both repair and paint interior walls — Restores interior condition and enhances rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+44.7% since first listed

6 events — show timeline

• 2026-05-20 Pending — CNYIS
• 2026-04-13 Price Changed $144,000 CNYIS
• 2026-03-02 Listed $149,000 CNYIS
• 2022-03-11 Sold (MLS) $99,500 CNYIS
• 2022-01-04 Pending — CNYIS
• 2022-01-04 Listed $99,500 CNYIS