5 West St · Auburn, NY 13021

$59,900

5 bd · 2.0 ba · 1,770 sqft · MultiFamily public records · 89 Days on market

Built 1900 5,130 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Good investment opportunity

Key facts

• New rear roof
• 2 unit
• 5,130 sq ft lot

Tags

• 2 UNIT
• NEW REAR ROOF

What this means for you Summary

Snapshot

• This is a 1×1bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $703/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 43.7% 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; 1 comparable units currently listed for rent nearby; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).
• At $2,940/mo this rent would consume 58% 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 3 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 $40k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 4.91% ✓
• Cap rate: 43.69%
• Cash-on-cash: 133.56%
• DSCR: 6.94
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $134,520
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 West St	0.00mi	4/2.0 (-1)	1,770 (0%)	1mo	$46,000	$26	94
78-80 Van Anden St	0.32mi	4/2.0 (-1)	1,772 (+0%)	20mo	$155,000	$87	63
115 Cottage St	0.40mi	4/2.0 (-1)	1,688 (-5%)	12mo	$128,500	$76	59
18 Lincoln St	0.73mi	4/2.0 (-1)	1,782 (+1%)	2mo	$145,000	$81	58
10 Chase St	0.67mi	5/2.5	1,900 (+7%)	1mo	$185,000	$97	54
20-22 Wallace Ave	0.56mi	5/2.0	1,824 (+3%)	23mo	$124,000	$68	50
41 Parker St	0.67mi	6/2.0 (+1)	1,800 (+2%)	19mo	$90,000	$50	45
205 Seymour St	0.32mi	4/2.0 (-1)	1,528 (-14%)	16mo	$117,000	$77	44
16 Delevan St	0.73mi	6/2.0 (+1)	1,616 (-9%)	7mo	$115,000	$71	41

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: —
• Equity multiple: 5.78×
• Total profit: $80,211
• Equity at exit: $8,931

10-year hold

• IRR: —
• Equity multiple: 12.13×
• Total profit: $186,609
• Equity at exit: $5,179

Cash invested: $16,772 (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: 3.9×

Monthly cashflow live

• Estimated rent: $2,940 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$117 /mo · $1,402/yr
• Insurance: −$25
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $1,406

Break-even live

Break-even rent $1,160

Max offer price $59,900

Occupancy floor 47%

Sensitivity live

Price	-10% $1,440	-5% $1,423	+0% $1,406	+5% $1,389	+10% $1,372
Rent	-10% $1,174	-5% $1,290	+0% $1,406	+5% $1,522	+10% $1,639
Rate	-1.0pp $1,436	-0.5pp $1,421	base $1,406	+0.5pp $1,391	+1.0pp $1,375

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,277
1× unit	3	1	$1,663
Total (2 units)			$2,940

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Sheridan St Auburn, NY	4.0	2.0	1788	$1,995	$1.12	44d	1	1.28mi

Listing history 10 events

1. 2026-03-12
   status Pending
2. 2026-01-05
   status Active
3. 2025-10-02
   status Pending
4. 2025-09-09
   listed $59,900 Active
5. 2022-12-19
   soldstatus $40,000
6. 2022-12-15
   soldstatus $40,000 Closed Sale or Rented 27-char remark

   Show marketing remark (27 chars)

   Good investment opportunity

7. 2022-10-27
   status Under Contract- Do Not Show 27-char remark

   Show marketing remark (27 chars)

   Good investment opportunity

8. 2022-10-04
   historical Continue to Show- Under Contract 27-char remark

   Show marketing remark (27 chars)

   Good investment opportunity

9. 2022-09-10
   listed $54,000 Active 27-char remark

   Show marketing remark (27 chars)

   Good investment opportunity

10. 2006-12-14
    soldstatus $33,169

ⓘ 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: $1,402 · $117/mo
• Projected year-2 tax: $1,402 · $117/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $35,280
• − Mortgage interest: −$3,355
• − Property taxes: −$1,402
• − Insurance: −$5,824
• − Repairs & maintenance: −$2,822
• − Management: −$2,822
• − Depreciation: −$1,743
• Taxable income: $17,311
• Est. tax owed @ 24.0%: −$4,155
• After-tax cash flow: $12,720/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

+80.6% since first listed

10 events — show timeline

• 2026-03-12 Pending — UNYREIS
• 2026-01-05 Relisted — UNYREIS
• 2025-10-02 Pending — UNYREIS
• 2025-09-09 Listed $59,900 UNYREIS
• 2022-12-19 Sold (Public Records) $40,000 Public Records
• 2022-12-15 Sold (MLS) $40,000 UNYREIS
• 2022-10-27 Pending — UNYREIS
• 2022-10-04 Contingent — UNYREIS
• 2022-09-10 Listed $54,000 UNYREIS
• 2006-12-14 Sold (Public Records) $33,169 Public Records

Property tax history

-1.7%/yr

Latest (2025): $1,402 · +10.8% YoY. Source: county tax records.