226 N Hoopes Ave · Auburn, NY 13021

$150,000

3 bd · 1.5 ba · 1,872 sqft · SingleFamily public records · 4 Days on market

Built 1900 7,620 sqft lot Est $251k · 40% under

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Why this score? — see what drove the C 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 +18.7/30.0
• ARV discount +15.0/15.0
• 1% rule +6.3/10.0
• DSCR +5.9/10.0
• 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 spacious 4-bedroom colonial featuring 2 full baths, a formal dining room perfect for entertaining, and a versatile bonus room just off the deck. Step outside to a fully fenced yard that’s ideal for relaxing, gardening, or play. Don’t miss the chance to make this charming home yours! With convenient location to schools, restaurants, and Stores. * 6/4 UPDATE: Sellers kindly request offers by 6pm tomorrow Thurs 6/5 to be reviewed shortly after. Thank you for your interest! *

Key facts

• Formal dining room
• Convenient location
• Versatile bonus room

Tags

• FORMAL DINING ROOM
• VERSATILE BONUS ROOM
• FULLY FENCED YARD
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

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; 2 comparable units currently listed for rent nearby; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).
• This rent runs 33% 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 $76k; list at $150k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1900 — 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. 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.
6. 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.
7. 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: 1.13% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $250,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
62 Capitol St	0.20mi	4/1.0 (+1)	1,960 (+5%)	2mo	$184,500	$94	74
121 E Genesee St	0.40mi	3/2.5	1,800 (-4%)	2mo	$395,000	$219	70
2 Hockeborne Ave	0.64mi	3/1.5	1,920 (+3%)	3mo	$200,000	$104	64
244 E Genesee St	0.33mi	3/1.5	1,660 (-11%)	6mo	$345,000	$208	60
341 N Hoopes Ave	0.15mi	3/2.0	2,147 (+15%)	9mo	$286,900	$134	59
76 Grant Ave	0.49mi	4/1.5 (+1)	1,744 (-7%)	3mo	$173,000	$99	58
25 S Hunter Ave	0.51mi	3/2.5	1,954 (+4%)	9mo	$372,000	$190	57
16 Augustus St	0.69mi	3/2.5	1,906 (+2%)	5mo	$215,000	$113	56
118 E Genesee St	0.43mi	4/1.5 (+1)	2,070 (+11%)	2mo	$238,500	$115	56
10 Alden Ave	0.38mi	4/3.5 (+1)	2,058 (+10%)	5mo	$345,000	$168	48
37 Augustus St	0.61mi	3/2.0	1,700 (-9%)	10mo	$235,000	$138	46
69 Lansing St	0.72mi	4/1.5 (+1)	1,608 (-14%)	7mo	$204,000	$127	32

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-14,774
• Equity at exit: $22,365

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-261
• Equity at exit: $12,969

Cash invested: $42,000 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,692 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$339 /mo · $4,073/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $148

Break-even live

Break-even rent $1,504

Max offer price $150,000

Occupancy floor 86%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
173 E Genesee St Unit 171 Auburn, NY	3.0	1.5	2000	$2,000	$1.00	44d	1	0.20mi
5 Sheridan St Auburn, NY	4.0	2.0	1788	$1,995	$1.12	44d	1	0.48mi

Listing history 6 events

1. 2025-06-06
   status Pending
2. 2025-06-02
   listed $150,000 Active
3. 2015-11-21
   price $134,900
4. 2015-11-03
   listed $134,900
5. 2003-03-04
   soldstatus $75,500
6. 1995-10-06
   soldstatus $74,000

ⓘ 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: $4,073 · $339/mo
• Projected year-2 tax: $4,073 · $339/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 · 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: $20,298
• − Mortgage interest: −$8,402
• − Property taxes: −$4,073
• − Insurance: −$750
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − Depreciation: −$4,364
• Taxable loss: −$538
• Est. tax savings @ 24.0%: +$129
• After-tax cash flow: $1,903/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

+102.7% since first listed

6 events — show timeline

• 2025-06-06 Pending — CNYIS
• 2025-06-02 Listed $150,000 CNYIS
• 2015-11-21 Price Changed $134,900 WNYREIS
• 2015-11-03 Listed $134,900 CNYIS
• 2003-03-04 Sold (Public Records) $75,500 Public Records
• 1995-10-06 Sold (Public Records) $74,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $4,073 · +10.8% YoY. Source: county tax records.