1-3 Lizette St · Auburn, NY 13021

$99,900

3 bd · 2.0 ba · 2,050 sqft · MultiFamily public records · 345 Days on market

Built 1920 4,068 sqft lot $49/sqft · 51% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This is an amazing opportunity for the right investor ready to unlock this property's full potential. This duplex features two spacious 3-bedroom apartments, one of which is already tenant-occupied and updated, providing immediate income while the other offers a blank canvas for renovation and upside. Unit 1 is a tenant-occupied 3 bedroom with recent updates including new flooring throughout, updated kitchen and bathroom, new furnace, new electrical fixtures, and new washer/dryer hookups. The other 3 bedroom is ready for cosmetic updates, and once renovated is ideal for increasing rent to market rate or owner occupancy. With the right vision and a bit of work, this property can become a high-performing asset with its given location, and a great addition to any investor's portfolio. Each unit is currently below market value, presenting a strong opportunity for rental income growth through market-aligned rate adjustments. Property is only for sale as part of a larger 18 unit package portfolio.

Key facts

• New furnace
• New flooring
• Updated kitchen

Tags

• UPDATED KITCHEN
• NEW FLOORING
• NEW FURNACE
• NEW ELECTRICAL FIXTURES
• NEW WASHER DRYER HOOKUPS

🏷️ Possibly a rental listed for sale. The $99,900 price doesn't fit this home's estimated sale value (~$202,848) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $987/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 30.0% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).
• At $3,435/mo this rent would consume 68% of the median local household income ($61k/yr) (locally 1449% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 345 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 345 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 3.44% ✓
• Cap rate: 30.01%
• Cash-on-cash: 84.71%
• DSCR: 4.77
• GRM: 2.4

CMA / ARV

• ARV (median comp): $202,848
• List price: $99,900
• Delta: -50.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
99 Owasco St	0.05mi	3/2.0	1,956 (-5%)	22mo	$145,000	$74	72
12 Logan St	0.40mi	3/2.0	1,920 (-6%)	11mo	$160,000	$83	62
22-24 N Fulton St	0.52mi	3/2.0	1,836 (-10%)	7mo	$95,000	$52	52
23-25 Hoffman St	0.27mi	4/2.0 (+1)	1,756 (-14%)	8mo	$130,000	$74	52
18 Lincoln St	0.43mi	4/2.0 (+1)	1,782 (-13%)	2mo	$145,000	$81	52
44 Osborne St #46	0.37mi	4/2.0 (+1)	2,291 (+12%)	23mo	$119,900	$52	39
47 Arterial W	0.58mi	4/2.0 (+1)	1,832 (-11%)	22mo	$96,000	$52	32
52 Grant Ave	0.75mi	3/3.0	1,796 (-12%)	22mo	$139,900	$78	22

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: 85.1%
• Equity multiple: 4.92×
• Total profit: $109,662
• Equity at exit: $14,895

10-year hold

• IRR: 88.3%
• Equity multiple: 10.22×
• Total profit: $257,770
• Equity at exit: $8,638

Cash invested: $27,972 (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: 4.8×

Monthly cashflow live

• Estimated rent: $3,435 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$173 /mo · $2,082/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$721
• Net cashflow: $1,975

Break-even live

Break-even rent $935

Max offer price $99,900

Occupancy floor 38%

Sensitivity live

Price	-10% $2,031	-5% $2,003	+0% $1,975	+5% $1,946	+10% $1,918
Rent	-10% $1,703	-5% $1,839	+0% $1,975	+5% $2,110	+10% $2,246
Rate	-1.0pp $2,025	-0.5pp $2,000	base $1,975	+0.5pp $1,949	+1.0pp $1,922

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,434
Total (2 units)			$3,435

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.38mi
173 E Genesee St Unit 171 Auburn, NY	3.0	1.5	2000	$2,000	$1.00	44d	1	0.67mi
78 Chedell Pl Auburn, NY	2.0	1.0	2096	$1,100	$0.52	44d	1	0.74mi

Listing history 20 events

1. 2026-06-19
   days on market $99,900 Active 345 DOM
2. 2026-06-18
   days on market $99,900 Active 344 DOM
3. 2026-06-17
   days on market $99,900 Active 343 DOM
4. 2026-06-16
   days on market $99,900 Active 342 DOM
5. 2026-06-15
   days on market $99,900 Active 341 DOM
6. 2026-06-14
   days on market $99,900 Active 339 DOM
7. 2026-06-12
   days on market $99,900 Active 338 DOM
8. 2026-06-09
   days on market $99,900 Active 335 DOM
9. 2026-06-08
   days on market $99,900 Active 334 DOM
10. 2026-06-07
    days on market $99,900 Active 333 DOM
11. 2026-06-05
    days on market $99,900 Active 330 DOM
12. 2026-06-03
    days on market $99,900 Active 329 DOM
13. 2026-06-02
    days on market $99,900 Active 328 DOM
14. 2026-06-01
    days on market $99,900 Active 327 DOM
15. 2026-05-31
    days on market $99,900 Active 326 DOM
16. 2026-05-30
    days on market $99,900 Active 325 DOM
17. 2025-07-09
    listed $99,900 Active 1006-char remark

    Show marketing remark (1006 chars)

    This is an amazing opportunity for the right investor ready to unlock this property's full potential. This duplex features two spacious 3-bedroom apartments, one of which is already tenant-occupied and updated, providing immediate income while the other offers a blank canvas for renovation and upside. Unit 1 is a tenant-occupied 3 bedroom with recent updates including new flooring throughout, updated kitchen and bathroom, new furnace, new electrical fixtures, and new washer/dryer hookups. The other 3 bedroom is ready for cosmetic updates, and once renovated is ideal for increasing rent to market rate or owner occupancy. With the right vision and a bit of work, this property can become a high-performing asset with its given location, and a great addition to any investor's portfolio. Each unit is currently below market value, presenting a strong opportunity for rental income growth through market-aligned rate adjustments. Property is only for sale as part of a larger 18 unit package portfolio.

18. 2014-04-30
    soldstatus $435,265
19. 1991-04-30
    soldstatus $18,796
20. 1991-04-30
    soldstatus $60,000

ⓘ 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: $2,082 · $173/mo
• Projected year-2 tax: $2,082 · $173/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: $41,220
• − Mortgage interest: −$5,596
• − Property taxes: −$2,082
• − Insurance: −$500
• − Repairs & maintenance: −$3,298
• − Management: −$3,298
• − Depreciation: −$2,906
• Taxable income: $23,542
• Est. tax owed @ 24.0%: −$5,650
• After-tax cash flow: $18,046/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

+431.5% since first listed

4 events — show timeline

• 2025-07-09 Listed $99,900 UNYREIS
• 2014-04-30 Sold (Public Records) $435,265 Public Records
• 1991-04-30 Sold (Public Records) $60,000 Public Records
• 1991-04-30 Sold (Public Records) $18,796 Public Records

Property tax history

-0.6%/yr

Latest (2025): $2,082 · +10.8% YoY. Source: county tax records.