20 Venice St · Auburn, NY 13021

$42,500

3 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 60 Days on market

Built 1900 4,360 sqft lot $33/sqft · 61% below area

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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

Listing remarks MLS

Opportunity knocks at 20 Venice St. in Auburn! This 3-bedroom home is packed with potential and priced to sell as the only property currently available in the City of Auburn under $70,000. Whether you’re an investor, flipper, or buyer looking to build equity, this is your chance to get into an improving neighborhood at an affordable price point. The home features a functional layout and sits on a lot that backs directly up to a peaceful park—offering added privacy and a great setting that’s hard to find at this price. While the property does need significant work, some key updates have already been started, including newer Pella windows and a portion of the roof already completed. Some of the surrounding homes have recently been remodeled, the area is showing strong signs of revitalization—making this an ideal candidate for renovation and long-term upside. Bring your vision and tools—this is a value-add opportunity you don’t want to miss!

Key facts

• 4,360 sq ft lot
• Built 1900
• Listed 59 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.
• Cap rate 39.2% 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).
• This rent runs 36% 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 $294 of loan paydown is wiped out by about $1k 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $42k implies a 93% gain — meaningful room to come down on a strong offer.

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 $41,225 (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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
7. 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.
8. 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.
9. 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: 4.30% ✓
• Cap rate: 39.15%
• Cash-on-cash: 117.35%
• DSCR: 6.22
• GRM: 1.9

CMA / ARV

• ARV (median comp): $110,124
• List price: $42,500
• Delta: -61.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
53 West St	0.10mi	2/1.0 (-1)	1,242 (-2%)	2mo	$27,000	$22	85
50 N Division St	0.30mi	3/1.0	1,358 (+7%)	6mo	$120,000	$88	70
242 Seymour St	0.27mi	3/0.5	1,216 (-4%)	10mo	$30,000	$25	70
9 Wallace Ave	0.46mi	3/1.0	1,348 (+6%)	4mo	$144,000	$107	65
185 Perrine Ave	0.61mi	3/1.0	1,296 (+2%)	4mo	$92,500	$71	65
7 Orchard Ave	0.37mi	4/2.0 (+1)	1,312 (+3%)	6mo	$170,000	$130	64
36 Jefferson St	0.27mi	4/1.5 (+1)	1,385 (+9%)	13mo	$45,000	$32	55
306 Seymour St	0.34mi	3/2.0	1,424 (+12%)	10mo	$155,000	$109	51
8 Easterly Ave	0.70mi	3/1.5	1,230 (-3%)	14mo	$55,000	$45	49
26 Chase St	0.72mi	3/2.0	1,372 (+8%)	4mo	$170,000	$124	46
37 Pulaski St	0.61mi	3/1.0	1,116 (-12%)	9mo	$112,000	$100	44
35 Parker St	0.67mi	3/1.0	1,445 (+14%)	9mo	$60,000	$42	38

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: 70.8%
• Equity multiple: 4.21×
• Total profit: $38,210
• Equity at exit: $6,337

10-year hold

• IRR: 74.8%
• Equity multiple: 8.75×
• Total profit: $92,177
• Equity at exit: $3,675

Cash invested: $11,900 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,826 medium
• Mortgage (P&I): −$223
• Tax from tax record: −$38 /mo · $455/yr
• Insurance: −$18
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $703

Break-even live

Break-even rent $935

Max offer price $42,500

Occupancy floor 56%

Sensitivity live

Price	-10% $727	-5% $715	+0% $703	+5% $691	+10% $679
Rent	-10% $559	-5% $631	+0% $703	+5% $775	+10% $848
Rate	-1.0pp $725	-0.5pp $714	base $703	+0.5pp $692	+1.0pp $681

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: $10,625
• Closing costs: $1,275
• 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	1.33mi

Listing history 19 events

1. 2026-06-19
   days on market $42,500 Active 60 DOM
2. 2026-06-18
   days on market $42,500 Active 59 DOM
3. 2026-06-17
   days on market $42,500 Active 58 DOM
4. 2026-06-17
   price $42,500 Active 57 DOM
5. 2026-06-16
   days on market $44,900 Active 57 DOM
6. 2026-06-15
   days on market $44,900 Active 56 DOM
7. 2026-06-14
   days on market $44,900 Active 54 DOM
8. 2026-06-12
   days on market $44,900 Active 53 DOM
9. 2026-06-09
   days on market $44,900 Active 50 DOM
10. 2026-06-08
    days on market $44,900 Active 49 DOM
11. 2026-06-07
    days on market $44,900 Active 48 DOM
12. 2026-06-05
    days on market $44,900 Active 45 DOM
13. 2026-06-03
    days on market $44,900 Active 44 DOM
14. 2026-06-02
    days on market $44,900 Active 43 DOM
15. 2026-06-01
    days on market $44,900 Active 42 DOM
16. 2026-05-31
    days on market $44,900 Active 41 DOM
17. 2026-05-30
    days on market $44,900 Active 40 DOM
18. 2026-04-20
    listed $44,900 Active 988-char remark

    Show marketing remark (988 chars)

    Opportunity knocks at 20 Venice St. in Auburn! This 3-bedroom home is packed with potential and priced to sell as the only property currently available in the City of Auburn under $70,000. Whether you’re an investor, flipper, or buyer looking to build equity, this is your chance to get into an improving neighborhood at an affordable price point. The home features a functional layout and sits on a lot that backs directly up to a peaceful park—offering added privacy and a great setting that’s hard to find at this price. While the property does need significant work, some key updates have already been started, including newer Pella windows and a portion of the roof already completed. Some of the surrounding homes have recently been remodeled, the area is showing strong signs of revitalization—making this an ideal candidate for renovation and long-term upside. Bring your vision and tools—this is a value-add opportunity you don’t want to miss!

19. 2004-08-06
    soldstatus $22,000

ⓘ 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: $455 · $38/mo
• Projected year-2 tax: $586 · $49/mo
• Expected delta: +$132/yr (+$11/mo · 29.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe 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: $21,907
• − Mortgage interest: −$2,381
• − Property taxes: −$455
• − Insurance: −$5,738
• − Repairs & maintenance: −$1,753
• − Management: −$1,753
• − Depreciation: −$1,236
• Taxable income: $8,593
• Est. tax owed @ 24.0%: −$2,062
• After-tax cash flow: $6,378/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

+104.1% since first listed

2 events — show timeline

• 2026-04-20 Listed $44,900 CNYIS
• 2004-08-06 Sold (Public Records) $22,000 Public Records

Property tax history

-4.8%/yr

Latest (2025): $455 · +10.8% YoY. Source: county tax records.