50 Aspen St · Auburn, NY 13021

$144,900

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 105 Days on market

Built 1920 2,549 sqft lot Est $162k · 11% under

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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 +28.1/30.0
• ARV discount +12.4/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• 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

Welcome to this inviting 2-bedroom, 1-bath home ideally situated on a corner lot. An attached garage offers secure parking and storage, while the enclosed, heated sunroom provides year-round natural light and flexible living space — perfect for a home office, reading nook, or play area. Step out to the deck for relaxed summer evenings and outdoor entertaining. The efficient floorplan maximizes usable space and brightness throughout. Located in a centrally positioned neighborhood, you’re just moments from the elementary school, restaurants, shopping centers and downtown amenities, making daily errands and weekend outings effortless. Whether you’re a first-time buyer, downsi

Key facts

• Attached garage
• Deck
• Corner lot

Tags

• CORNER LOT
• ATTACHED GARAGE
• ENCLOSED HEATED SUNROOM
• DECK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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).
• This rent runs 35% 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 $1k 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 $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $59k; list at $145k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,859 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.21% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.40%
• DSCR: 1.60
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $162,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Van Patten St	0.10mi	3/1.0	1,152 (+2%)	10mo	$166,000	$144	83
6 Willard St	0.09mi	3/1.0	1,248 (+11%)	3mo	$99,900	$80	75
16 Wright Ave	0.39mi	3/1.0	1,080 (-4%)	2mo	$124,700	$115	73
85 Chapman Ave	0.26mi	3/1.0	1,209 (+7%)	7mo	$129,900	$107	70
26 Van Patten St	0.05mi	3/1.5	1,248 (+11%)	16mo	$155,000	$124	65
106 Clymer St	0.42mi	3/1.0	1,056 (-6%)	9mo	$155,500	$147	63
83 Chapman Ave	0.27mi	3/2.0	1,245 (+10%)	7mo	$182,000	$146	60
55 Chapman Ave	0.46mi	2/2.0 (-1)	1,084 (-4%)	8mo	$106,000	$98	56
108 Clymer St	0.41mi	3/2.0	1,056 (-6%)	15mo	$238,000	$225	54
10 Wallace Ave	0.55mi	4/1.0 (+1)	1,076 (-5%)	13mo	$70,000	$65	51
140 Garrow Street Ext	0.60mi	3/2.0	1,176 (+4%)	16mo	$195,000	$166	48
28 Anderson Cir	0.70mi	3/1.5	1,008 (-11%)	8mo	$249,900	$248	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: 3.4%
• Equity multiple: 1.13×
• Total profit: $5,360
• Equity at exit: $21,605

10-year hold

• IRR: 12.9%
• Equity multiple: 2.03×
• Total profit: $41,755
• Equity at exit: $12,528

Cash invested: $40,572 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,751 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$110 /mo · $1,319/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $453

Break-even live

Break-even rent $1,177

Max offer price $144,900

Occupancy floor 69%

Sensitivity live

Price	-10% $535	-5% $494	+0% $453	+5% $412	+10% $371
Rent	-10% $315	-5% $384	+0% $453	+5% $522	+10% $591
Rate	-1.0pp $526	-0.5pp $490	base $453	+0.5pp $416	+1.0pp $377

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $144,900 Active 105 DOM
2. 2026-06-18
   days on market $144,900 Active 104 DOM
3. 2026-06-17
   days on market $144,900 Active 103 DOM
4. 2026-06-16
   days on market $144,900 Active 102 DOM
5. 2026-06-15
   pricedays on market $144,900 Active 101 DOM
6. 2026-06-14
   days on market $149,900 Active 99 DOM
7. 2026-06-12
   days on market $149,900 Active 98 DOM
8. 2026-06-09
   days on market $149,900 Active 95 DOM
9. 2026-06-08
   days on market $149,900 Active 94 DOM
10. 2026-06-07
    statusdays on market $149,900 Active 93 DOM
11. 2026-05-06
    status Pending
12. 2026-04-23
    historical Active Under Contract
13. 2026-03-18
    price $149,900
14. 2026-02-24
    price $157,900
15. 2026-02-04
    listed $163,400 Active
16. 2009-01-06
    soldstatus $59,000
17. 2005-10-28
    soldstatus $67,200

ⓘ 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: $1,319 · $110/mo
• Projected year-2 tax: $1,884 · $157/mo
• Expected delta: +$565/yr (+$47/mo · 42.8%)

ⓘ 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 ≥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: $21,011
• − Mortgage interest: −$8,117
• − Property taxes: −$1,319
• − Insurance: −$724
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − Depreciation: −$4,215
• Taxable income: $3,274
• Est. tax owed @ 24.0%: −$786
• After-tax cash flow: $4,651/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

+123.1% since first listed

7 events — show timeline

• 2026-05-06 Pending — UNYREIS
• 2026-04-23 Contingent — UNYREIS
• 2026-03-18 Price Changed $149,900 UNYREIS
• 2026-02-24 Price Changed $157,900 UNYREIS
• 2026-02-04 Listed $163,400 UNYREIS
• 2009-01-06 Sold (Public Records) $59,000 Public Records
• 2005-10-28 Sold (Public Records) $67,200 Public Records

Property tax history

-3.8%/yr

Latest (2025): $1,319 · -41.6% YoY. Source: county tax records.