Two-Family Home in Desirable
For Sale
$169,000
2-4 Maple St, Auburn, NY 13021
Two-unit property ideal for investors or owner-occupants.
Property Size1,856 SF
Lot Size0.06 Acres
Days on Market173
Property Features for 2-4 Maple St
General Information
Standard status
Active
Size
1,856 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,621
Building Details
Building Size
1,856 SF
Year Built
1930
Stories
2
Units
2
Listing Agency:
(315) 729-7713
Listed By:
Lee Holmes
(315) 729-7713
Source:
Elliman
Added: Mar 12
Changed: Aug 24
Last Checked: Aug 30 at 8:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee Holmes
Investment Insights
Based on property information with market context.
This two-family rental home offers flexibility, comfort, and long-term stability in a quiet, desirable neighborhood. The first-floor apartment features two bedrooms, one of which includes a gas fireplace that could also serve as a family room. It also has a comfortable living and dining area with bright natural light. There is easy access to the full basement and washer/dryer. The upstairs apartment has a private front entrance, one bedroom, a living room, and an eat-in kitchen. This unit includes a small enclosed back porch and a front open-air balcony. Both units are in good condition, reflecting the care of being owned by the same family for over 30 years. The home is situated in an attractive area conveniently close to public transportation and major amenities. The property is within easy walking distance of Hoopes Park and Herman Ave Elementary School. This location offers easy access for commuters and tenants who enjoy urban conveniences. This two-family home is ideal for investors or owner-occupants seeking a prime location and offers potential for residential income.
Key Highlights
- Prime location close to public transportation, major amenities, Hoopes Park, and Herman Ave Elementary School.
- Two family rental home ideal for investors or owner‑occupants.
- Both units are in good condition, reflecting long‑term family ownership.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,937
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$298,740
$298.7K
Cap Rate 7%
$213,386
$213.4K
Cap Rate 9%
$165,967
$166.0K
Market Conditions
NOI Build-Up for 1,856 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.0K $15.60/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$27.2K $14.63/SF
− OpEx
−$12.2K −$6.58/SF
NOI
$14.9K $8.05/SF
Area
Cayuga County, NY
Vacancy
6.20%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$298,740
Cap Rate 7%
$213,386
Cap Rate 9%
$165,967
Alternative Uses
Best Use
Multifamily LT 5
$239.5K
$209.6K – $279.4K
NOI $16,764 @ 7.0% cap · market cap 9.92%
Second Best
Apartment 5plus
$213.4K
$186.7K – $249.0K
NOI $14,937 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$411.3K
$359.9K – $479.9K
NOI $28,793 @ 7.0% cap · market cap 17.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 13021, NY
38,479
Population
18,847
Households
2
Avg Household Size
44
Median Age
27%
College-Educated
91%
High-School Grad
119.2 sq mi
ZIP Area
323
Density / Sq Mi
$58,946
Median Household Income
$41,990
Median Earnings
$874
Median Rent
$169,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property ideal for investors or owner-occupants.
Where is this duplex located?
The property is located at 2-4 Maple St Auburn, NY.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: Prime location close to public transportation, major amenities, Hoopes Park, and Herman Ave Elementary School.; Two family rental home ideal for investors or owner‑occupants.; Both units are in good condition, reflecting long‑term family ownership.
