53 Arterial W · Auburn, NY 13021

$265,000

6 bd · 3.0 ba · 2,624 sqft · MultiFamily public records · 82 Days on market

Built 1910 0.50 ac lot $101/sqft · 21% above area Est $219k · 21% 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
• 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
• 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

STUNNING REMODELED 3-UNIT MULTI-FAMILY IN THE UP-AND-COMING AUBURN MARKET!! TURNKEY INVESTMENT OPPORTUNITY WITH ALL UNITS OCCUPIED AND PRODUCING STRONG CASH FLOW!! TOTAL RENTAL INCOME OF $3,700/MONTH ($44,400/YEAR) WITH A PROJECTED CAP RATE OF APPROX. 13% AT A $265,000 PURCHASE PRICE!! UNIT BREAKDOWN INCLUDES A SPACIOUS 3-BEDROOM UNIT RENTED AT $1,300/MONTH, A 2-BEDROOM UNIT RENTED AT $1,200/MONTH, AND A 1-BEDROOM UNIT RENTED AT $1,200/MONTH—IDEAL FOR INVESTORS SEEKING IMMEDIATE INCOME AND LONG-TERM APPRECIATION!! PROPERTY HAS BEEN FULLY RENOVATED WITH MAJOR CAPITAL IMPROVEMENTS INCLUDING A NEW ROOF, UPDATED ELECTRIC, NEW PLUMBING, NEW INTERIOR PAINT, NEW FLOORING THROUGHOUT, MODERNIZED KITCHENS WITH NEW CABINETS & SINKS, UPDATED BATHROOMS, NEW APPLIANCES, SEVEN NEW WINDOWS, NEW HEATING SYSTEMS, NEW HOT WATER HEATER, NEW ELECTRIC PANEL WITH CIRCUIT BREAKERS, AND MORE!! EXTERIOR FEATURES INCLUDE A LARGE BACKYARD, 3-CAR GARAGE FOR ADDITIONAL INCOME OR TENANT USE, AND TWO UNITS WITH PRIVATE PORCHES!! PRIME LOCATION CLOSE TO SHOPPING, DINING, SCHOOLS, PARKS, ROUTE 5 & ROUTE 34, MAKING THIS A HIGH-DEMAND RENTAL PROPERTY!! PERFECT FOR INVESTORS LOOKING FOR A CASH-FLOW OR OWNER OCCUPANTS SEEKING TO HOUSE HACK AND BUILD EQUITY!! MOVE-IN READY • INCOME PRODUCING • STRONG ROI • SCHEDULE YOUR SHOWING TODAY!!

Key facts

• Fully renovated
• New plumbing
• Updated electric

Tags

• REMODELED MULTI-FAMILY
• TURNKEY INVESTMENT OPPORTUNITY
• FULLY RENOVATED
• NEW ROOF
• UPDATED ELECTRIC
• NEW PLUMBING

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $265k).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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).
• At $4,294/mo this rent would consume 85% 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 $2k of loan paydown is wiped out by about $8k 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 $74k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y 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 $83k; list at $265k implies a 219% 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 $249,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.62% ✓
• Cap rate: 13.83%
• Cash-on-cash: 26.94%
• DSCR: 2.20
• GRM: 5.1

CMA / ARV

• ARV (median comp): $218,842
• List price: $265,000
• Delta: 21.09%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 North St	0.41mi	5/2.0 (-1)	2,628 (+0%)	6mo	$92,554	$35	67
164 Franklin St	0.62mi	6/3.0	2,762 (+5%)	2mo	$190,000	$69	60
19 School St	0.52mi	6/2.0	2,520 (-4%)	14mo	$160,100	$64	53
28 Bradford St	0.51mi	6/2.0	2,520 (-4%)	18mo	$125,000	$50	50
42 Elizabeth St	0.73mi	6/2.5	2,804 (+7%)	10mo	$205,000	$73	44
13 School St	0.51mi	6/2.0	2,304 (-12%)	10mo	$177,000	$77	44
125-127 S Seward Ave	0.62mi	6/2.0	2,891 (+10%)	10mo	$220,500	$76	42
9 Perry St	0.44mi	5/3.0 (-1)	2,248 (-14%)	19mo	$217,900	$97	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: 20.9%
• Equity multiple: 1.85×
• Total profit: $63,138
• Equity at exit: $39,512

10-year hold

• IRR: 29.0%
• Equity multiple: 3.58×
• Total profit: $191,575
• Equity at exit: $22,912

Cash invested: $74,200 (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: 13.3×

Monthly cashflow live

• Estimated rent: $4,294 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$227 /mo · $2,719/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$902
• Net cashflow: $1,666

Break-even live

Break-even rent $2,186

Max offer price $265,000

Occupancy floor 56%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,663
1× unit	2	1	$1,357
1× unit	1	1	$1,275
Total (3 units)			$4,294

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $265,000 Active 82 DOM
2. 2026-06-18
   days on market $265,000 Active 81 DOM
3. 2026-06-17
   days on market $265,000 Active 80 DOM
4. 2026-06-16
   days on market $265,000 Active 79 DOM
5. 2026-06-15
   days on market $265,000 Active 78 DOM
6. 2026-06-14
   days on market $265,000 Active 76 DOM
7. 2026-06-12
   days on market $265,000 Active 75 DOM
8. 2026-06-09
   days on market $265,000 Active 72 DOM
9. 2026-06-08
   days on market $265,000 Active 71 DOM
10. 2026-06-07
    days on market $265,000 Active 70 DOM
11. 2026-06-05
    days on market $265,000 Active 67 DOM
12. 2026-06-03
    days on market $265,000 Active 66 DOM
13. 2026-06-02
    days on market $265,000 Active 65 DOM
14. 2026-06-01
    days on market $265,000 Active 64 DOM
15. 2026-05-31
    days on market $265,000 Active 63 DOM
16. 2026-05-30
    days on market $265,000 Active 62 DOM
17. 2026-03-29
    listed $265,000 Active 1369-char remark

    Show marketing remark (1369 chars)

    STUNNING REMODELED 3-UNIT MULTI-FAMILY IN THE UP-AND-COMING AUBURN MARKET!! TURNKEY INVESTMENT OPPORTUNITY WITH ALL UNITS OCCUPIED AND PRODUCING STRONG CASH FLOW!! TOTAL RENTAL INCOME OF $3,700/MONTH ($44,400/YEAR) WITH A PROJECTED CAP RATE OF APPROX. 13% AT A $265,000 PURCHASE PRICE!! UNIT BREAKDOWN INCLUDES A SPACIOUS 3-BEDROOM UNIT RENTED AT $1,300/MONTH, A 2-BEDROOM UNIT RENTED AT $1,200/MONTH, AND A 1-BEDROOM UNIT RENTED AT $1,200/MONTH—IDEAL FOR INVESTORS SEEKING IMMEDIATE INCOME AND LONG-TERM APPRECIATION!! PROPERTY HAS BEEN FULLY RENOVATED WITH MAJOR CAPITAL IMPROVEMENTS INCLUDING A NEW ROOF, UPDATED ELECTRIC, NEW PLUMBING, NEW INTERIOR PAINT, NEW FLOORING THROUGHOUT, MODERNIZED KITCHENS WITH NEW CABINETS & SINKS, UPDATED BATHROOMS, NEW APPLIANCES, SEVEN NEW WINDOWS, NEW HEATING SYSTEMS, NEW HOT WATER HEATER, NEW ELECTRIC PANEL WITH CIRCUIT BREAKERS, AND MORE!! EXTERIOR FEATURES INCLUDE A LARGE BACKYARD, 3-CAR GARAGE FOR ADDITIONAL INCOME OR TENANT USE, AND TWO UNITS WITH PRIVATE PORCHES!! PRIME LOCATION CLOSE TO SHOPPING, DINING, SCHOOLS, PARKS, ROUTE 5 & ROUTE 34, MAKING THIS A HIGH-DEMAND RENTAL PROPERTY!! PERFECT FOR INVESTORS LOOKING FOR A CASH-FLOW OR OWNER OCCUPANTS SEEKING TO HOUSE HACK AND BUILD EQUITY!! MOVE-IN READY • INCOME PRODUCING • STRONG ROI • SCHEDULE YOUR SHOWING TODAY!!

18. 2026-03-29
    listed $265,000 Active 1369-char remark

    Show marketing remark (1369 chars)

    STUNNING REMODELED 3-UNIT MULTI-FAMILY IN THE UP-AND-COMING AUBURN MARKET!! TURNKEY INVESTMENT OPPORTUNITY WITH ALL UNITS OCCUPIED AND PRODUCING STRONG CASH FLOW!! TOTAL RENTAL INCOME OF $3,700/MONTH ($44,400/YEAR) WITH A PROJECTED CAP RATE OF APPROX. 13% AT A $265,000 PURCHASE PRICE!! UNIT BREAKDOWN INCLUDES A SPACIOUS 3-BEDROOM UNIT RENTED AT $1,300/MONTH, A 2-BEDROOM UNIT RENTED AT $1,200/MONTH, AND A 1-BEDROOM UNIT RENTED AT $1,200/MONTH—IDEAL FOR INVESTORS SEEKING IMMEDIATE INCOME AND LONG-TERM APPRECIATION!! PROPERTY HAS BEEN FULLY RENOVATED WITH MAJOR CAPITAL IMPROVEMENTS INCLUDING A NEW ROOF, UPDATED ELECTRIC, NEW PLUMBING, NEW INTERIOR PAINT, NEW FLOORING THROUGHOUT, MODERNIZED KITCHENS WITH NEW CABINETS & SINKS, UPDATED BATHROOMS, NEW APPLIANCES, SEVEN NEW WINDOWS, NEW HEATING SYSTEMS, NEW HOT WATER HEATER, NEW ELECTRIC PANEL WITH CIRCUIT BREAKERS, AND MORE!! EXTERIOR FEATURES INCLUDE A LARGE BACKYARD, 3-CAR GARAGE FOR ADDITIONAL INCOME OR TENANT USE, AND TWO UNITS WITH PRIVATE PORCHES!! PRIME LOCATION CLOSE TO SHOPPING, DINING, SCHOOLS, PARKS, ROUTE 5 & ROUTE 34, MAKING THIS A HIGH-DEMAND RENTAL PROPERTY!! PERFECT FOR INVESTORS LOOKING FOR A CASH-FLOW OR OWNER OCCUPANTS SEEKING TO HOUSE HACK AND BUILD EQUITY!! MOVE-IN READY • INCOME PRODUCING • STRONG ROI • SCHEDULE YOUR SHOWING TODAY!!

19. 2026-03-12
    historical
20. 2026-03-12
    historical
21. 2025-09-12
    listed $290,000 Active
22. 2025-09-12
    listed $290,000 Active
23. 2024-08-01
    historical
24. 2024-06-26
    price $295,000
25. 2024-06-19
    status Active
26. 2024-06-11
    historical Active Under Contract
27. 2024-05-20
    price $310,000
28. 2024-05-01
    listed $320,000 Active
29. 2023-08-16
    soldstatus $83,000 Closed Sale or Rented
30. 2023-04-21
    status Under Contract- Do Not Show
31. 2023-02-08
    listed $109,000 Active
32. 1998-09-18
    soldstatus $45,000

ⓘ 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: $2,719 · $227/mo
• Projected year-2 tax: $3,599 · $300/mo
• Expected delta: +$880/yr (+$73/mo · 32.3%)

ⓘ 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 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: $51,528
• − Mortgage interest: −$14,844
• − Property taxes: −$2,719
• − Insurance: −$1,325
• − Repairs & maintenance: −$4,122
• − Management: −$4,122
• − Depreciation: −$7,709
• Taxable income: $16,686
• Est. tax owed @ 24.0%: −$4,005
• After-tax cash flow: $15,982/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

+488.9% since first listed

16 events — show timeline

• 2026-03-29 Listed $265,000 CNYIS
• 2026-03-29 Listed $265,000 CNYIS
• 2026-03-12 Listing Removed — CNYIS
• 2026-03-12 Listing Removed — CNYIS
• 2025-09-12 Listed $290,000 CNYIS
• 2025-09-12 Listed $290,000 CNYIS
• 2024-08-01 Listing Removed — CNYIS
• 2024-06-26 Price Changed $295,000 CNYIS
• 2024-06-19 Relisted — CNYIS
• 2024-06-11 Contingent — CNYIS
• 2024-05-20 Price Changed $310,000 CNYIS
• 2024-05-01 Listed $320,000 CNYIS
• 2023-08-16 Sold (MLS) $83,000 UNYREIS
• 2023-04-21 Pending — UNYREIS
• 2023-02-08 Listed $109,000 UNYREIS
• 1998-09-18 Sold (Public Records) $45,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $2,719 · +10.8% YoY. Source: county tax records.