39 Perry St · Auburn, NY 13021

$24,900

4 bd · 1.0 ba · 1,472 sqft · SingleFamily public records · 5 Days on market

Built 1885 0.26 ac lot ↓ 45% 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 MLS

Located close to Hoopes Park and the college, this home has a lot to offer. Walk in the front door to a mudroom that leads into a beautiful open living room/dining room. Off of the formal dining room there is a big eat-in kitchen with ample cupboard space. There is a screened in back porch off of the kitchen that leads out to a nice sized back yard with two storage sheds. On the second floor, there are 4 bedrooms and a full bathroom. This is a perfect starter home located on the east side of Auburn.

Key facts

• 0.26 acre lot
• Built 1885
• Listed 5 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $25k.

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 $25k).
• Cap rate 71.0% 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; 1 comparable units currently listed for rent nearby; 161 units permitted in Cayuga County in 2024 (65 in 5+ unit buildings).
• This rent runs 38% 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 $172 of loan paydown is wiped out by about $747 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,900

Questions for the listing agent

1. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 7.70% ✓
• Cap rate: 70.97%
• Cash-on-cash: 230.97%
• DSCR: 11.28
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $207,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Paul St	0.45mi	3/1.5 (-1)	1,516 (+3%)	4mo	$65,000	$43	63
160 S Seward Ave	0.41mi	4/1.5	1,352 (-8%)	5mo	$190,000	$141	62
34 Liberty St	0.73mi	4/1.5	1,464 (-0%)	3mo	$135,000	$92	61
445 N Seward Ave	0.20mi	3/1.0 (-1)	1,288 (-12%)	6mo	$185,000	$144	59
121 Capitol Street Ext	0.56mi	3/2.0 (-1)	1,446 (-2%)	7mo	$260,000	$180	56
69 Lansing St	0.53mi	4/1.5	1,608 (+9%)	7mo	$204,000	$127	52
138 Owasco St	0.62mi	3/2.5 (-1)	1,392 (-5%)	2mo	$205,000	$147	50
126 N Fulton St	0.64mi	3/1.5 (-1)	1,568 (+6%)	6mo	$162,500	$104	47
244 E Genesee St	0.53mi	3/1.5 (-1)	1,660 (+13%)	6mo	$345,000	$208	41
3 Parsons St	0.65mi	5/2.0 (+1)	1,624 (+10%)	3mo	$39,000	$24	41
150 Osborne St	0.74mi	3/1.5 (-1)	1,303 (-12%)	2mo	$201,000	$154	38
136 Osborne St	0.74mi	3/1.5 (-1)	1,252 (-15%)	4mo	$110,000	$88	31

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: 12.68×
• Total profit: $81,464
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 26.98×
• Total profit: $181,112
• Equity at exit: $2,153

Cash invested: $6,972 (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: 1.1×

Monthly cashflow live

• Estimated rent: $1,917 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $1,342

Break-even live

Break-even rent $218

Max offer price $24,900

Occupancy floor 25%

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: $6,225
• Closing costs: $747
• 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	0.25mi

Listing history 6 events

1. 2026-02-23
   status Pending
2. 2026-02-18
   listed $24,900 Active
3. 2021-04-07
   soldstatus $72,500 Closed Sale or Rented 504-char remark

   Show marketing remark (504 chars)

   Located close to Hoopes Park and the college, this home has a lot to offer. Walk in the front door to a mudroom that leads into a beautiful open living room/dining room. Off of the formal dining room there is a big eat-in kitchen with ample cupboard space. There is a screened in back porch off of the kitchen that leads out to a nice sized back yard with two storage sheds. On the second floor, there are 4 bedrooms and a full bathroom. This is a perfect starter home located on the east side of Auburn.

4. 2021-02-25
   status Under Contract- Do Not Show 504-char remark

   Show marketing remark (504 chars)

   Located close to Hoopes Park and the college, this home has a lot to offer. Walk in the front door to a mudroom that leads into a beautiful open living room/dining room. Off of the formal dining room there is a big eat-in kitchen with ample cupboard space. There is a screened in back porch off of the kitchen that leads out to a nice sized back yard with two storage sheds. On the second floor, there are 4 bedrooms and a full bathroom. This is a perfect starter home located on the east side of Auburn.

5. 2020-10-20
   listed $99,900 Active 504-char remark

   Show marketing remark (504 chars)

   Located close to Hoopes Park and the college, this home has a lot to offer. Walk in the front door to a mudroom that leads into a beautiful open living room/dining room. Off of the formal dining room there is a big eat-in kitchen with ample cupboard space. There is a screened in back porch off of the kitchen that leads out to a nice sized back yard with two storage sheds. On the second floor, there are 4 bedrooms and a full bathroom. This is a perfect starter home located on the east side of Auburn.

6. 1992-05-18
   soldstatus $45,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 0% 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: $22,998
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − Depreciation: −$724
• Taxable income: $16,701
• Est. tax owed @ 24.0%: −$4,008
• After-tax cash flow: $12,095/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

-45.3% since first listed

6 events — show timeline

• 2026-02-23 Pending — CNYIS
• 2026-02-18 Listed $24,900 CNYIS
• 2021-04-07 Sold (MLS) $72,500 CNYIS
• 2021-02-25 Pending — CNYIS
• 2020-10-20 Listed $99,900 CNYIS
• 1992-05-18 Sold (Public Records) $45,500 Public Records

Property tax history

+0.6%/yr

Latest (2025): $2,590 · +10.8% YoY. Source: county tax records.