Duplex with
New
For Sale
$184,900
53 E Genesee Street, Auburn, NY 13021
Residential, Auburn, NY
Property Size1,856 SF
Lot Size0.09 Acres
Price / SF$99.62
Days on Market3
Property Features for 53 E Genesee Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Basement, Bedroom 1
Patio and Porch features
Porch
Exterior features
FullyFenced
Fencing
Fenced
Appliances
GasWaterHeater
Lot features
Irregular Lot, Near Public Transit
Elementary school district
Auburn
Middle school district
Auburn
High school district
Auburn
Subdivision
Auburn-050100
Standard status
Active
APN
050100-116-046-0002-005-000-0000
Size
1,856 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
2637
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
porch
off-street parking
tin ceilings
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Varies, Carpet, Resilient, Hardwood
Building materials
WoodSiding
Listing Agency:
Candy Costa Real Estate LLC
(315) 505-6609
Listed By:
Julie A Rizzo · License #10401303422
(315) 751-3729
Added: Sep 25
Changed: Sep 27
Last Checked: Sep 27 at 12:06PM
MLS# S1716906
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,856-square-foot duplex contains two stacked residences, each with three bedrooms and one bathroom. Both units have a porch, and the property includes off-street parking. Interior details include tin ceilings and a mix of hardwood, resilient, and carpet flooring. The house dates to 1920 and has wood siding, forced-air natural gas heat, and a gas water heater.
The 0.0878-acre parcel is fully fenced. The upper unit is vacant, and the property is near shopping, dining, and services in Auburn, New York.
The 0.0878-acre parcel is fully fenced. The upper unit is vacant, and the property is near shopping, dining, and services in Auburn, New York.
Key Highlights
- Two units, each with 3 bedrooms and 1 bathroom
- 1,856 square feet on a 0.0878‑acre parcel
- Upper unit is vacant
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
$16,764
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
9.07%
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%
$335,280
$335.3K
Cap Rate 7%
$239,486
$239.5K
Cap Rate 9%
$186,267
$186.3K
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
$25.6K $13.80/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$23.9K $12.90/SF
− OpEx
−$7.2K −$3.87/SF
NOI
$16.8K $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 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%
$335,280
Cap Rate 7%
$239,486
Cap Rate 9%
$186,267
Alternative Uses
Best Use
Multifamily LT 5
$239.5K
$209.6K – $279.4K
NOI $16,764 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$213.4K
$186.7K – $249.0K
NOI $14,937 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$411.3K
$359.9K – $479.9K
NOI $28,793 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,324
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The upper residence is vacant, creating flexibility for occupancy or leasing alongside the second unit.
Where is this duplex located?
The property is located at 53 E Genesee Street Auburn, NY.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 bathroom; 1,856 square feet on a 0.0878‑acre parcel; Upper unit is vacant
