Two-Unit Duplex with
New
For Sale
$184,900
53 East Genesee Street, Auburn, NY 13021
Upper and lower residences each offer three bedrooms, one bathroom, and off-street parking.
Property Size1,856 SF
Days on Market7
Property Features for 53 East Genesee Street
General Information
Standard status
Active
Size
1,856 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
TLC
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,637
Amenities
porch
Building Details
Building Size
1,856 SF
Year Built
1920
Buildings
1
Listing Agency:
Candy Costa Real Estate LLC
Listed By:
Julie A Rizzo · License #10401303422
(315) 505-6609
Source:
Griffith-realty
Added: Sep 25
Changed: Sep 28
Last Checked: Sep 30 at 5:33PM
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 Candy Costa Real Estate LLC
Investment Insights
Based on property information with market context.
This duplex contains two vertically arranged residences, each with three bedrooms, one bathroom, and a porch. Off-street parking serves the property. Tin ceilings contribute original architectural detail, while the functional floor plan supports the two-unit configuration. Built in 1920, the building has an upper unit that is currently vacant; the lower unit's occupancy is not specified.
The property is at 53 East Genesee Street in Auburn, New York, near shopping, dining, and services.
The property is at 53 East Genesee Street in Auburn, New York, near shopping, dining, and services.
Key Highlights
- Two units, each with 3 bedrooms and 1 bathroom
- Upper and lower unit layout; upper residence is vacant
- A porch and off‑street parking for each unit
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
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6
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
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Frequently Asked Questions
What type of property is this?
Duplex - Upper and lower residences each offer three bedrooms, one bathroom, and off-street parking.
Where is this duplex located?
The property is located at 53 East 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; Upper and lower unit layout; upper residence is vacant; A porch and off‑street parking for each unit
