Two-Family Home with Finished
For Sale
$225,000
Pending
439 SEWARD AVE, Auburn, NY 13021
Well-maintained two-family residence with a private backyard, finished attic, and separated basement with laundry for each side.
Property Size2,422 SF
Days on Market395
Property Features for 439 SEWARD AVE
General Information
Standard status
Pending
Size
2,422 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,868
Amenities
Gas
Full
3
Hardwood, Tile, Carpet
Shingle
Partial
Deck
Deck. Fenced Yard.
Rectangular
49X149
Deck-Covered. Rectangular.
Building Details
Year Built
1920
Stories
2
Listing Agency:
RE/MAX Masters
(315) 671-1627
Listed By:
Peter Babbles · License #30BA0855853
(315) 671-1627
Source:
Xome
Added: Jul 16, 2025
Changed: Aug 12
Last Checked: Aug 14 at 3:58AM
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 RE/MAX Masters
Investment Insights
Based on property information with market context.
This lovingly maintained two-family home features a beautiful, private backyard and a finished attic. Each side offers three bedrooms with closets and one full bath, providing comfortable, separate living arrangements. The 439 address also includes an additional powder room on the first floor and a kitchen with all-walnut, handmade cabinetry, along with full access to the attic.
The basement is separated with a furnace and laundry for each side, supporting day-to-day independence between units. Gas heating and utilities are available for the property.
Conveniently located less than a mile from East Middle School and Cayuga Community College, and about 10 minutes from Emerson Park and scenic Owasco Lake, this home offers flexible living options, including the potential to keep it as a duplex or convert it into a spacious single-family residence.
The basement is separated with a furnace and laundry for each side, supporting day-to-day independence between units. Gas heating and utilities are available for the property.
Conveniently located less than a mile from East Middle School and Cayuga Community College, and about 10 minutes from Emerson Park and scenic Owasco Lake, this home offers flexible living options, including the potential to keep it as a duplex or convert it into a spacious single-family residence.
Key Highlights
- Well‑maintained two‑family home with a private backyard, deck, and fenced yard
- Finished attic with the potential to support an in‑law suite or convert to a single‑family residence
- Each side features 3 bedrooms with closets and 1 full bath
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
$19,492
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
8.66%
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%
$389,840
$389.8K
Cap Rate 7%
$278,457
$278.5K
Cap Rate 9%
$216,578
$216.6K
Market Conditions
NOI Build-Up for 2,422 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
$37.8K $15.60/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$35.4K $14.63/SF
− OpEx
−$15.9K −$6.58/SF
NOI
$19.5K $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%
$389,840
Cap Rate 7%
$278,457
Cap Rate 9%
$216,578
Alternative Uses
Best Use
Multifamily LT 5
$312.5K
$273.5K – $364.6K
NOI $21,876 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$278.5K
$243.7K – $324.9K
NOI $19,492 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$536.8K
$469.7K – $626.2K
NOI $37,574 @ 7.0% cap · market cap 16.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
310
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 - Well-maintained two-family residence with a private backyard, finished attic, and separated basement with laundry for each side.
Where is this duplex located?
The property is located at 439 SEWARD AVE Auburn, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Well‑maintained two‑family home with a private backyard, deck, and fenced yard; Finished attic with the potential to support an in‑law suite or convert to a single‑family residence; Each side features 3 bedrooms with closets and 1 full bath
