Renovated Two-Unit
For Sale
$174,900
3 Parsons Street, Auburn, NY 13021
Updated two-family property with refreshed kitchens, bathrooms, and flooring in both apartments.
Property Size1,624 SF
Days on Market53
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Property Features for 3 Parsons Street
General Information
Standard status
Active
Size
1,624 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,817
Building Details
Building Size
1,624 SF
Year Built
1930
Buildings
1
Listing Agency:
Baier Real Estate LLC
Listed By:
Stephen J. Baier · License #10491213852
(315) 406-2717
Source:
Griffith-realty
Added: Aug 24
Changed: Oct 11
Last Checked: Oct 15 at 5:59AM
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 Baier Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two separate apartments, each with two bedrooms. Renovations include new flooring, updated kitchens, and remodeled bathrooms throughout the property, providing a refreshed interior for the next owner.
The home is currently vacant and sits near downtown, with shopping, restaurants, entertainment, and everyday amenities located minutes away. Its two-unit layout supports both owner-occupancy and multifamily ownership uses.
The home is currently vacant and sits near downtown, with shopping, restaurants, entertainment, and everyday amenities located minutes away. Its two-unit layout supports both owner-occupancy and multifamily ownership uses.
Key Highlights
- Two‑unit duplex with two bedrooms in each apartment
- Renovated interiors with new flooring throughout
- Updated kitchens in both apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,668
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,360
$293.4K
Cap Rate 7%
$209,543
$209.5K
Cap Rate 9%
$162,978
$163.0K
Market Conditions
NOI Build-Up for 1,624 SF
Gross rent
$22.4K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$21.0K $12.90/SF
− OpEx
−$6.3K −$3.87/SF
NOI
$14.7K $9.03/SF
Area
Cayuga County, NY
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,360
Cap Rate 7%
$209,543
Cap Rate 9%
$162,978
Alternative Uses
Best Use
Multifamily LT 5
$209.5K
$183.4K – $244.5K
NOI $14,668 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$186.7K
$163.4K – $217.8K
NOI $13,070 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$359.9K
$314.9K – $419.9K
NOI $25,194 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,684
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family property with refreshed kitchens, bathrooms, and flooring in both apartments.
Where is this duplex located?
The property is located at 3 Parsons Street Auburn, NY.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms in each apartment; Renovated interiors with new flooring throughout; Updated kitchens in both apartments
