10 Nelson St · Auburn, NY 13021

$35,000

6 bd · 3.0 ba · 3,472 sqft · SingleFamily public records · 27 Days on market

Built 1870 0.27 ac lot ↓ 24% since listing

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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

Owned by the City of Auburn and offered for sale as-is at $35,000, 10 Nelson St. presents a unique investment and restoration opportunity. This spacious 2-story single-family residence offers 3,472 square feet of living space and showcases a classic colonial-style brick exterior that provides timeless curb appeal and historic character. Originally built in 1870, the property features 6 bedrooms, 3 full bathrooms, and 3 kitchens, offering flexible layout possibilities for future use. Additional highlights include natural gas forced-air heat, public water and sewer utilities, and a full basement for storage or additional functional space. Situated on a generously sized lot with both covered a

Key facts

• Full basement
• Historic character
• 0.27 acre lot

Tags

• COLONIAL STYLE BRICK EXTERIOR
• HISTORIC CHARACTER
• NATURAL GAS FORCED AIR HEAT
• FULL BASEMENT
• COVERED AND OPEN PORCH AREAS

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Resale property; Brick construction
• Construction: Brick exterior; Stone foundation; Existing (previously built)
• Exterior features: Gravel driveway; Rectangular lot

Interior

• Kitchen: Water heater (listed under appliances); See remarks for additional kitchen details
• Bedrooms: Total of 10 rooms (bedrooms and other rooms included)
• Bathrooms: Three full bathrooms; One half bathroom; One main-level bathroom
• Heating & cooling: Gas heating; Heating present
• Interior features: Full basement; Additional interior details noted in remarks
• Laundry & utility: See remarks for laundry and utility details

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 52.7% 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: 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: Owasco Elementary School (math 32% / reading 42%, grade F, #1,519 of 2,108 statewide, top 74%, 370 students, 46% 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 59% FRL vs 42% district-wide (17 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: 225 active listings in the ZIP; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).
• This rent runs 41% 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 $242 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 5.93% ✓
• Cap rate: 52.73%
• Cash-on-cash: 165.84%
• DSCR: 8.38
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $354,144
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
144 E Genesee St	0.69mi	6/3.0	3,130 (-10%)	6mo	$319,000	$102	46

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: 9.23×
• Total profit: $80,644
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 19.52×
• Total profit: $181,528
• Equity at exit: $3,026

Cash invested: $9,800 (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: 225
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $2,074 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$86 /mo · $1,036/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $1,354

Break-even live

Break-even rent $360

Max offer price $35,000

Occupancy floor 30%

Sensitivity live

Price	-10% $1,374	-5% $1,364	+0% $1,354	+5% $1,344	+10% $1,335
Rent	-10% $1,190	-5% $1,272	+0% $1,354	+5% $1,436	+10% $1,518
Rate	-1.0pp $1,372	-0.5pp $1,363	base $1,354	+0.5pp $1,345	+1.0pp $1,336

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-22
   days on market $35,000 Active 27 DOM
2. 2026-06-19
   days on market $35,000 Active 24 DOM
3. 2026-06-18
   days on market $35,000 Active 23 DOM
4. 2026-06-17
   days on market $35,000 Active 22 DOM
5. 2026-06-16
   days on market $35,000 Active 21 DOM
6. 2026-06-15
   days on market $35,000 Active 20 DOM
7. 2026-06-14
   days on market $35,000 Active 18 DOM
8. 2026-06-12
   days on market $35,000 Active 17 DOM
9. 2026-06-09
   days on market $35,000 Active 14 DOM
10. 2026-06-08
    days on market $35,000 Active 13 DOM
11. 2026-06-07
    days on market $35,000 Active 12 DOM
12. 2026-06-05
    days on market $35,000 Active 9 DOM
13. 2026-06-03
    days on market $35,000 Active 8 DOM
14. 2026-06-02
    days on market $35,000 Active 7 DOM
15. 2026-06-01
    days on market $35,000 Active 6 DOM
16. 2026-05-31
    days on market $35,000 Active 5 DOM
17. 2026-05-30
    days on market $35,000 Active 4 DOM
18. 2026-05-26
    listed $35,000 Active
19. 2026-03-31
    historical
20. 2026-03-31
    historical
21. 2025-11-07
    historical
22. 2025-11-07
    listed $35,000 Active
23. 2025-11-07
    listed $35,000 Active
24. 2024-11-09
    status Pending
25. 2024-11-09
    status Pending
26. 2024-11-07
    historical
27. 2024-07-23
    price $35,000
28. 2024-07-23
    price $35,000
29. 2024-04-20
    price $45,000
30. 2024-04-20
    price $45,000
31. 2024-02-16
    price $55,000
32. 2024-02-16
    price $55,000
33. 2023-12-29
    listed $65,000 Active
34. 2023-12-29
    listed $65,000 Active
35. 2000-06-30
    soldstatus $40,000
36. 2000-06-06
    soldstatus $45,900

ⓘ 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: $1,036 · $86/mo
• Projected year-2 tax: $1,036 · $86/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 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: $24,893
• − Mortgage interest: −$1,961
• − Property taxes: −$1,036
• − Insurance: −$175
• − Repairs & maintenance: −$1,991
• − Management: −$1,991
• − Depreciation: −$1,018
• Taxable income: $16,720
• Est. tax owed @ 24.0%: −$4,013
• After-tax cash flow: $12,239/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

-23.7% since first listed

19 events — show timeline

• 2026-05-26 Listed $35,000 CNYIS
• 2026-03-31 Listing Removed — CNYIS
• 2026-03-31 Listing Removed — CNYIS
• 2025-11-07 Listing Removed — CNYIS
• 2025-11-07 Listed $35,000 CNYIS
• 2025-11-07 Listed $35,000 CNYIS
• 2024-11-09 Pending — CNYIS
• 2024-11-09 Pending — CNYIS
• 2024-11-07 Listing Removed — CNYIS
• 2024-07-23 Price Changed $35,000 CNYIS
• 2024-07-23 Price Changed $35,000 CNYIS
• 2024-04-20 Price Changed $45,000 CNYIS
• 2024-04-20 Price Changed $45,000 CNYIS
• 2024-02-16 Price Changed $55,000 CNYIS
• 2024-02-16 Price Changed $55,000 CNYIS
• 2023-12-29 Listed $65,000 CNYIS
• 2023-12-29 Listed $65,000 CNYIS
• 2000-06-30 Sold (Public Records) $40,000 Public Records
• 2000-06-06 Sold (Public Records) $45,900 Public Records

Property tax history

-8.2%/yr

Latest (2025): $1,036 · +140.8% YoY. Source: county tax records.