15-17 Wall St · Auburn, NY 13021

$154,900

8 bd · 3.0 ba · 2,798 sqft · MultiFamily · 60 Days on market

Built 1877 Fair condition 8,776 sqft lot $55/sqft · 25% below area Est $207k · 25% under ↓ 3% since listing

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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 +2.2/5.0
• 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

INVESTORS WANTED!! With ZERO utility expenses and minimal overhead, these properties generate a strong cash-flow presence, and nothing but potential! With the offering of 2 single family homes on 1 parcel, the potential is limitless. 15 Wall St offers 4 beds and 1.5 bath with generously sized bedrooms and in-unit laundry, while 17 wall offers 3 beds, 1 bath, an enclosed back entry with in unit laundry! With a current NOI of approximately $17,908, delivering a strong ~11.9% cap rate, the value is already present! The long-term tenants provide reliable income, while current rents offer clear value-add potential for future increases. This property is available to be purchased as part of a bundle with 13 Wall St, MLS#S1674966, at an asking price of $220,000.00. Portfolio highlights include a combined NOI: $30,500+, portfolio cap rate of ~13.7%, strong tenant history and occupancy, mix of duplex + single-family assets, ample off-street parking and yard space and close proximity to downtown! Whether you’re looking to expand your portfolio or secure a high-yield, stable investment, this package delivers both immediate returns and future growth potential.

Key facts

• In unit laundry
• Enclosed back entry
• Yard space

Tags

• 2 SINGLE FAMILY HOMES
• ENCLOSED BACK ENTRY
• IN UNIT LAUNDRY
• AMPLE OFF-STREET PARKING
• YARD SPACE
• CLOSE PROXIMITY TO DOWNTOWN

🏷️ Possibly a rental listed for sale. The $154,900 price doesn't fit this home's estimated sale value (~$206,814) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1×4bd/1.5ba + 1×3bd/1ba units multifamily listed at $155k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $946/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.9% 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 $3,749/mo this rent would consume 74% 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 $43k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 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 $100k; list at $155k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1877 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1877 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.42% ✓
• Cap rate: 20.94%
• Cash-on-cash: 52.33%
• DSCR: 3.33
• GRM: 3.4

CMA / ARV

• ARV (median comp): $206,814
• List price: $154,900
• Delta: -25.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 50.3%
• Equity multiple: 3.20×
• Total profit: $95,410
• Equity at exit: $23,096

10-year hold

• IRR: 55.7%
• Equity multiple: 6.50×
• Total profit: $238,414
• Equity at exit: $13,393

Cash invested: $43,372 (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: 6.7×

Monthly cashflow live

• Estimated rent: $3,749 medium
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$787
• Net cashflow: $1,891

Break-even live

Break-even rent $1,355

Max offer price $154,900

Occupancy floor 45%

Sensitivity live

Price	-10% $1,998	-5% $1,945	+0% $1,891	+5% $1,838	+10% $1,784
Rent	-10% $1,595	-5% $1,743	+0% $1,891	+5% $2,039	+10% $2,187
Rate	-1.0pp $1,969	-0.5pp $1,931	base $1,891	+0.5pp $1,851	+1.0pp $1,810

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

Units	Beds	Baths	Est. rent
1× unit	4	1.5	$1,924
1× unit	3	1	$1,825
Total (2 units)			$3,749

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $154,900 Active 60 DOM
2. 2026-06-18
   days on market $154,900 Active 59 DOM
3. 2026-06-17
   days on market $154,900 Active 58 DOM
4. 2026-06-16
   days on market $154,900 Active 57 DOM
5. 2026-06-15
   days on market $154,900 Active 56 DOM
6. 2026-06-14
   days on market $154,900 Active 54 DOM
7. 2026-06-12
   days on market $154,900 Active 53 DOM
8. 2026-06-09
   days on market $154,900 Active 50 DOM
9. 2026-06-08
   days on market $154,900 Active 49 DOM
10. 2026-06-07
    days on market $154,900 Active 48 DOM
11. 2026-06-05
    days on market $154,900 Active 45 DOM
12. 2026-06-03
    days on market $154,900 Active 44 DOM
13. 2026-06-02
    days on market $154,900 Active 43 DOM
14. 2026-06-01
    days on market $154,900 Active 42 DOM
15. 2026-05-31
    days on market $154,900 Active 41 DOM
16. 2026-05-30
    days on market $154,900 Active 40 DOM
17. 2026-04-20
    listed $154,900 Active 1179-char remark

    Show marketing remark (1179 chars)

    INVESTORS WANTED!! With ZERO utility expenses and minimal overhead, these properties generate a strong cash-flow presence, and nothing but potential! With the offering of 2 single family homes on 1 parcel, the potential is limitless. 15 Wall St offers 4 beds and 1.5 bath with generously sized bedrooms and in-unit laundry, while 17 wall offers 3 beds, 1 bath, an enclosed back entry with in unit laundry! With a current NOI of approximately $17,908, delivering a strong ~11.9% cap rate, the value is already present! The long-term tenants provide reliable income, while current rents offer clear value-add potential for future increases. This property is available to be purchased as part of a bundle with 13 Wall St, MLS#S1674966, at an asking price of $220,000.00. Portfolio highlights include a combined NOI: $30,500+, portfolio cap rate of ~13.7%, strong tenant history and occupancy, mix of duplex + single-family assets, ample off-street parking and yard space and close proximity to downtown! Whether you’re looking to expand your portfolio or secure a high-yield, stable investment, this package delivers both immediate returns and future growth potential.

18. 2023-09-01
    soldstatus $100,000 Closed Sale or Rented 627-char remark

    Show marketing remark (627 chars)

    Investment opportunity for two single family rental properties on one tax map to be sold together. Large partially fenced yard with plenty of room to entertain friends and family. Well maintained two 3 bedroom/1 bath property. Recently refitted with replacement thermal windows, newer hot water tanks, vinyl siding, upgraded electric and newer furnaces. The roof was replaced approximately 6 years ago. The properties are currently occupied with long-term tenants and can be purchased together or as part of a four building package with 13 Wall St. and 19 Wall St. Don't miss out on this rental property investment opportunity.

19. 2023-08-03
    status Under Contract- Do Not Show 627-char remark

    Show marketing remark (627 chars)

    Investment opportunity for two single family rental properties on one tax map to be sold together. Large partially fenced yard with plenty of room to entertain friends and family. Well maintained two 3 bedroom/1 bath property. Recently refitted with replacement thermal windows, newer hot water tanks, vinyl siding, upgraded electric and newer furnaces. The roof was replaced approximately 6 years ago. The properties are currently occupied with long-term tenants and can be purchased together or as part of a four building package with 13 Wall St. and 19 Wall St. Don't miss out on this rental property investment opportunity.

20. 2023-06-15
    listed $160,000 Active 627-char remark

    Show marketing remark (627 chars)

    Investment opportunity for two single family rental properties on one tax map to be sold together. Large partially fenced yard with plenty of room to entertain friends and family. Well maintained two 3 bedroom/1 bath property. Recently refitted with replacement thermal windows, newer hot water tanks, vinyl siding, upgraded electric and newer furnaces. The roof was replaced approximately 6 years ago. The properties are currently occupied with long-term tenants and can be purchased together or as part of a four building package with 13 Wall St. and 19 Wall St. Don't miss out on this rental property investment opportunity.

ⓘ 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 3/10 Moderate 7 d/yr ≥96°F today · 16 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: $44,988
• − Mortgage interest: −$8,677
• − Property taxes: −$2,324
• − Insurance: −$774
• − Repairs & maintenance: −$3,599
• − Management: −$3,599
• − Depreciation: −$4,506
• Taxable income: $21,509
• Est. tax owed @ 24.0%: −$5,162
• After-tax cash flow: $17,533/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance, particularly to the exterior siding and kitchen/bathrooms. Painting the exterior and updating the interiors would significantly increase its value.

Repairs flagged

• Major exterior siding — Weathered and in need of repainting
• Major kitchen and bathrooms — No photos, but based on similar properties, likely in poor condition

Value-add opportunities

• Both paint exterior siding — Enhances curb appeal and value
• Both repair and update kitchen and bathrooms — Improves functionality and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and in need of repainting	Major	$15,000–50,000
kitchen and bathrooms · No photos, but based on similar properties, likely in poor condition	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior siding — Enhances curb appeal and value ↑
• Both repair and update kitchen and bathrooms — Improves functionality and value ↑

ⓘ 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

-3.2% since first listed

4 events — show timeline

• 2026-04-20 Listed $154,900 CNYIS
• 2023-09-01 Sold (MLS) $100,000 CNYIS
• 2023-08-03 Pending — CNYIS
• 2023-06-15 Listed $160,000 CNYIS