121 Palmer St · Auburn, NY 13021

$185,000

4 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 4 Days on market

Built 1955 9,378 sqft lot Est $148k · 25% over

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Why this score? — see what drove the D+ 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 +21.7/30.0
• DSCR +6.9/10.0
• 1% rule +5.1/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Well-located ranch with key updates already completed. Major utility improvements offer peace of mind, including a furnace replaced just 6 months ago, a 2-month-old hot water tank, and an updated electrical panel installed 1 month ago. The roof and windows were replaced approximately 15 years ago. This ranch-style home features 4 bedrooms plus a bonus room that opens to a private back deck. With just a buyer’s personal touches, this home could truly shine. Enjoy the quiet backyard and explore the potential of the full basement. Offers due Tuesday April 28th by 11am.

Key facts

• Hot water tank
• Private back deck
• Furnace replaced

Tags

• KEY UPDATES
• UTILITY IMPROVEMENTS
• FURNACE REPLACED
• HOT WATER TANK
• UPDATED ELECTRICAL PANEL
• PRIVATE BACK DECK

Property features AI

Exterior

• Parking: Attached underground garage; 1 garage space
• Utilities: Public water (connected); Sewer connected
• Home design: Single-story existing home
• Construction: Vinyl siding; Block foundation
• Exterior features: Blacktop driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 80 x 117

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator
• Bedrooms: 4 main-level bedrooms
• Flooring: Carpet; Hardwood; Tile; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Pantry; Bedroom on main level; Full walk-out basement
• Laundry & utility: Washer and dryer; Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).

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 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 $6k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,000

Questions for the listing agent

1. Built in 1955 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.56%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $147,744
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 Standart Ave	0.09mi	3/1.0 (-1)	1,032 (+1%)	2mo	$189,900	$184	88
196 N Fulton St	0.07mi	4/2.0	1,040 (+1%)	8mo	$233,000	$224	84
135 N Lewis St	0.12mi	3/1.0 (-1)	1,020 (-1%)	19mo	$160,700	$158	73
131 Standart Ave Ave	0.18mi	3/1.0 (-1)	960 (-6%)	7mo	$159,900	$167	70
43 N Standart Ave S	0.22mi	3/1.0 (-1)	1,104 (+8%)	10mo	$185,000	$168	64
39 Standart Ave	0.23mi	3/1.0 (-1)	1,137 (+11%)	7mo	$130,000	$114	60
84 Grant Ave	0.49mi	3/2.0 (-1)	1,088 (+6%)	8mo	$149,400	$137	51
18 Vista St	0.38mi	3/1.0 (-1)	918 (-10%)	16mo	$132,500	$144	47
22 Catlin St	0.38mi	3/1.0 (-1)	1,152 (+12%)	18mo	$155,000	$135	41
66 Holley St	0.48mi	3/1.0 (-1)	1,128 (+10%)	23mo	$33,000	$29	37
56 Cayuga St	0.73mi	3/1.0 (-1)	1,068 (+4%)	21mo	$20,000	$19	37
15 Holley St	0.71mi	3/2.0 (-1)	1,092 (+6%)	22mo	$156,045	$143	29

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-11,970
• Equity at exit: $27,584

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $12,692
• Equity at exit: $15,995

Cash invested: $51,800 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,865 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$143 /mo · $1,711/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $283

Break-even live

Break-even rent $1,506

Max offer price $185,000

Occupancy floor 80%

Sensitivity live

Price	-10% $388	-5% $336	+0% $283	+5% $231	+10% $178
Rent	-10% $136	-5% $210	+0% $283	+5% $357	+10% $430
Rate	-1.0pp $376	-0.5pp $330	base $283	+0.5pp $235	+1.0pp $186

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-28
   status Pending
2. 2026-04-24
   listed $185,000 Active

ⓘ 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: $1,711 · $143/mo
• Projected year-2 tax: $2,419 · $202/mo
• Expected delta: +$708/yr (+$59/mo · 41.3%)

ⓘ 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: $22,375
• − Mortgage interest: −$10,363
• − Property taxes: −$1,711
• − Insurance: −$925
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − Depreciation: −$5,382
• Taxable income: $414
• Est. tax owed @ 24.0%: −$99
• After-tax cash flow: $3,299/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

2 events — show timeline

• 2026-04-28 Pending — UNYREIS
• 2026-04-24 Listed $185,000 UNYREIS

Property tax history

-4.5%/yr

Latest (2025): $1,711 · -34.5% YoY. Source: county tax records.