112 Osborne St · Auburn, NY 13021

$139,900

8 bd · 3.0 ba · 1,984 sqft · MultiFamily public records · 251 Days on market

Built 1930 Fair condition 8,276 sqft lot $71/sqft · 46% below area Est $259k · 46% under · waterfront

---

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
• Schools +4.8/10.0
• Livability +3.7/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Presenting a well-maintained three-family property offering strong rental performance and versatility for both investors and owner-occupants alike. The building features a 1-bedroom, 2-bedroom and a 3-bedroom, each with separate utilities, ensuring easy management and cleaner operating expenses. This home is situated on the Owasco Outlet affording the opportunity for canoeing, kayaking, fishing and swimming. Current annual net operating income stands at $19,837, providing an attractive turnkey investment opportunity with room for future upside through market rent adjustments or continued portfolio scaling. A smart and stable addition to any investor’s holdings—modernized interiors, strong rental performance, and a configuration that appeals to today’s tenants make this one a standout. This home may be purchased in a bundle deal along with 73 Arterial West, MLS #S1657399, offering a combined yearly NOI of $37,140 at a reduced price of $338,900.

Key facts

• Separate utilities
• Modernized interiors
• 8,276 sq ft lot

Tags

• STRONG RENTAL PERFORMANCE
• SEPARATE UTILITIES
• MODERNIZED INTERIORS

What this means for you Summary

Snapshot

• This is a 1×1bd/1.0ba + 2×2bd/1.0ba units multifamily listed at $140k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $517/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.6% vs local median 5.9% 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: amenities D-, commute F, employment D-.
• 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.
• Zoned schools: William H Seward Elementary School (math 34% / reading 40%, grade F, #1,519 of 2,108 statewide, top 74%, 485 students, 52% FRL); Auburn Junior High School (math 16% / reading 26%, grade F, #661 of 729 statewide, top 91%, 598 students, 81% FRL); Auburn High School (math 88% / reading 84%, grade A, #347 of 1,100 statewide, top 32%, 1,183 students, 51% FRL) — zoned schools average 61% FRL vs 42% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 48% at this address vs 35% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Auburn City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 372 active listings in the ZIP; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 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 $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $50k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $108k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 days. Have you received any prior offers? Is the seller open to a 12% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 2.35% ✓
• Cap rate: 19.60%
• Cash-on-cash: 47.53%
• DSCR: 3.11
• GRM: 3.5

CMA / ARV

• ARV (median comp): $258,941
• List price: $139,900
• Delta: -45.97%
• 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: 45.0%
• Equity multiple: 2.95×
• Total profit: $76,252
• Equity at exit: $20,860

10-year hold

• IRR: 50.9%
• Equity multiple: 5.95×
• Total profit: $194,050
• Equity at exit: $12,096

Cash invested: $39,172 (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: 372
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $3,288 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$254 /mo · $3,047/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $1,552

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$938
▸ 2× units	2	1	$2,350
Total (3 units)			$3,288

Break-even live

Break-even rent $1,324

Max offer price $139,900

Occupancy floor 48%

Sensitivity live

Price	-10% $1,631	-5% $1,591	+0% $1,552	+5% $1,512	+10% $1,472
Rent	-10% $1,292	-5% $1,422	+0% $1,552	+5% $1,682	+10% $1,811
Rate	-1.0pp $1,622	-0.5pp $1,587	base $1,552	+0.5pp $1,515	+1.0pp $1,478

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: $34,975
• Closing costs: $4,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
99 Owasco St Auburn, NY	1.0	1.0	1956	$1,025	$0.52	6d	1	0.14mi
4 Lake Ave #2 Auburn, NY	3.0	1.0	—	$1,691	—	1d	1	0.21mi
4 Lake Ave Unit 1 Auburn, NY	3.0	1.0	—	$1,691	—	139d	1	0.21mi
4 Lake Ave Auburn, NY	3.0	1.0	1824	$1,650	$0.90	1d	1	0.21mi
48 Bradford St Auburn, NY	2.0	1.0	906	$1,495	$1.65	1d	1	0.31mi
10 E Genesee St Auburn, NY	2.0	1.0	8784	$1,100	$0.13	1d	1	0.48mi
10 Genesee St Auburn, NY	1.0	1.0	34830	$2,000	$0.06	1d	1	0.49mi
14 S Lewis St Apt 6 Auburn, NY	1.0	1.0	600	$850	$1.42	6d	1	0.53mi
7 Court St Auburn, NY	1.0	1.0	1000	$1,200	$1.20	1d	1	0.59mi
78 Chedell Pl Auburn, NY	2.0	1.0	2096	$1,100	$0.52	139d	1	0.63mi
173 E Genesee St Unit 171 Auburn, NY	3.0	1.5	2000	$2,000	$1.00	139d	1	0.79mi
19 Orchard St Apt 1 Auburn, NY	1.0	1.0	—	$1,200	—	1d	1	0.87mi
138 Standart Ave Auburn, NY	2.0	1.0–1.5	—	$1,882	—	0d	1	1.14mi
138 Wall St Auburn, NY	2.0	1.0	768	$1,100	$1.43	1d	1	1.44mi
250 McIntosh Dr Auburn, NY	2.0	1.0	800	$1,250	$1.56	0d	1	1.48mi

Listing history 50 events

1. 2026-09-23
   days on market $139,900 Active 251 DOM
2. 2026-09-21
   days on market $139,900 Active 249 DOM
3. 2026-09-20
   days on market $139,900 Active 248 DOM
4. 2026-09-18
   days on market $139,900 Active 246 DOM
5. 2026-09-17
   days on market $139,900 Active 245 DOM
6. 2026-09-16
   days on market $139,900 Active 244 DOM
7. 2026-09-15
   days on market $139,900 Active 243 DOM
8. 2026-09-14
   days on market $139,900 Active 242 DOM
9. 2026-09-13
   days on market $139,900 Active 241 DOM
10. 2026-09-12
    days on market $139,900 Active 240 DOM
11. 2026-09-11
    days on market $139,900 Active 239 DOM
12. 2026-09-05
    days on market $139,900 Active 233 DOM
13. 2026-09-04
    days on market $139,900 Active 232 DOM
14. 2026-09-03
    days on market $139,900 Active 231 DOM
15. 2026-09-02
    days on market $139,900 Active 230 DOM
16. 2026-08-30
    days on market $139,900 Active 227 DOM
17. 2026-08-29
    days on market $139,900 Active 226 DOM
18. 2026-08-28
    days on market $139,900 Active 225 DOM
19. 2026-08-27
    days on market $139,900 Active 224 DOM
20. 2026-08-26
    days on market $139,900 Active 223 DOM
21. 2026-08-25
    days on market $139,900 Active 222 DOM
22. 2026-08-24
    days on market $139,900 Active 221 DOM
23. 2026-08-23
    days on market $139,900 Active 220 DOM
24. 2026-08-22
    days on market $139,900 Active 219 DOM
25. 2026-08-21
    days on market $139,900 Active 218 DOM
26. 2026-08-20
    pricedays on market $139,900 Active 217 DOM
27. 2026-08-19
    days on market $154,900 Active 216 DOM
28. 2026-08-18
    days on market $154,900 Active 215 DOM
29. 2026-08-17
    days on market $154,900 Active 214 DOM
30. 2026-08-16
    days on market $154,900 Active 213 DOM
31. 2026-08-15
    days on market $154,900 Active 212 DOM
32. 2026-08-14
    days on market $154,900 Active 211 DOM
33. 2026-08-13
    days on market $154,900 Active 210 DOM
34. 2026-08-12
    days on market $154,900 Active 209 DOM
35. 2026-08-11
    days on market $154,900 Active 208 DOM
36. 2026-08-10
    days on market $154,900 Active 207 DOM
37. 2026-08-09
    days on market $154,900 Active 206 DOM
38. 2026-08-08
    days on market $154,900 Active 205 DOM
39. 2026-08-07
    days on market $154,900 Active 204 DOM
40. 2026-08-06
    days on market $154,900 Active 203 DOM
41. 2026-08-05
    days on market $154,900 Active 202 DOM
42. 2026-08-04
    days on market $154,900 Active 201 DOM
43. 2026-08-03
    days on market $154,900 Active 200 DOM
44. 2026-08-01
    price $154,900 Active 197 DOM
45. 2026-07-31
    days on market $169,900 Active 197 DOM
46. 2026-07-30
    days on market $169,900 Active 196 DOM
47. 2026-07-29
    days on market $169,900 Active 195 DOM
48. 2026-07-27
    days on market $169,900 Active 193 DOM
49. 2026-07-25
    days on market $169,900 Active 191 DOM
50. 2026-07-24
    days on market $169,900 Active 190 DOM

ⓘ 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: $3,047 · $254/mo
• Projected year-2 tax: $3,047 · $254/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 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: $39,456
• − Mortgage interest: −$7,837
• − Property taxes: −$3,047
• − Insurance: −$700
• − Repairs & maintenance: −$3,156
• − Management: −$3,156
• − Depreciation: −$4,070
• Taxable income: $17,490
• Est. tax owed @ 24.0%: −$4,198
• After-tax cash flow: $14,422/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 · 10 photos

Fair 45/100 Moderate rehab Est. rehab $49,600–$89,280 screening

This three-family property requires moderate renovations to improve its condition and increase its value. Painting, updating fixtures, and landscaping will significantly enhance its appeal to both buyers and renters.

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — roof appears damaged and leaking
• Major Windows (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — windows appear old and possibly not sealed properly
• Major Electrical (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — electrical panel appears old and possibly not up to code
• Major Plumbing (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — plumbing fixtures appear old and possibly not up to code
• Major Exterior (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — exterior siding appears damaged and possibly not up to code

Repairs flagged

• Minor Kitchen cabinets — Some minor wear and tear, but still functional.
• Minor Bathroom fixtures — Dated and could benefit from replacement or updating.
• Moderate Exterior siding — Signs of wear and discoloration, may need repainting or replacement.
• Moderate Interior walls — Discoloration and wear, may need repainting.
• Moderate Windows — May need new hardware or sealing, as some appear loose.
• Moderate Landscaping — Overgrown and could benefit from trimming and maintenance.

Value-add opportunities

• Both Painting and updating the kitchen and bathrooms — Fresh paint and updated fixtures will improve both the resale and rental value. ↑
• Both Landscaping and curb appeal improvements — A well-maintained exterior will attract more potential buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary William H Seward Elementary School F NY #1,519/2,108 Nat'l #21,438/41,679 Middle Auburn Junior High School F NY #661/729 Nat'l #11,464/14,009 High Auburn High School A NY #347/1,100 Nat'l #648/17,239

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

B Composite livability gradescore 74/100

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 · 74,820 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: 17% of renters

---

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: —
• 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

+414.0% since first listed

8 events — show timeline

• 2026-04-06 Price Changed $179,900 CNYIS
• 2026-01-15 Listed $189,900 CNYIS
• 2010-12-30 Sold (MLS) $107,500 CNYIS
• 2010-12-29 Sold (Public Records) $107,500 Public Records
• 2010-09-08 Listed $119,500 CNYIS
• 2007-06-15 Sold (Public Records) $66,000 Public Records
• 2007-02-26 Sold (Public Records) $35,000 Public Records
• 2004-03-10 Sold (Public Records) $35,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $3,047 · +10.8% YoY. Source: county tax records.