Tenant-Occupied
New
For Sale
$249,900
53 Orchard St, Auburn, NY 13021
Three-unit residential property with all units occupied by tenants and a varied bedroom configuration.
Property Size2,603 SF
Days on Market6
Property Features for 53 Orchard St
General Information
Standard status
Active
Size
2,603 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
1 x 4BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,585
Building Details
Building Size
2,603 SF
Year Built
1850
Stories
2
Units
3
Listing Agency:
CANDY COSTA REAL ESTATE LLC
Listed By:
Tiffany Mosher · License #10401245757
(315) 505-6609
Source:
Elliman
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 9:44AM
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 triplex contains three residential units with a combined six bedrooms and three bathrooms. The layout includes one four-bedroom, one-bath unit alongside two one-bedroom, one-bath units. All three units are currently occupied by tenants, providing an existing residential income configuration for an investor or owner seeking a multi-unit asset.
Built in 1850, the property is located at 53 Orchard St in Auburn, NY. WalkScore is 68, classified as Somewhat Walkable, while BikeScore is 48, classified as Somewhat Bikeable. The unit mix combines a larger residence with two smaller apartments, creating a clearly defined three-unit layout.
Built in 1850, the property is located at 53 Orchard St in Auburn, NY. WalkScore is 68, classified as Somewhat Walkable, while BikeScore is 48, classified as Somewhat Bikeable. The unit mix combines a larger residence with two smaller apartments, creating a clearly defined three-unit layout.
Key Highlights
- Three‑unit triplex with all units currently tenant occupied
- Six bedrooms and 3 bathrooms across the property
- Unit mix includes one 4‑bedroom unit and two 1‑bedroom units
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
$20,949
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
8.38%
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%
$418,980
$419.0K
Cap Rate 7%
$299,271
$299.3K
Cap Rate 9%
$232,767
$232.8K
Market Conditions
NOI Build-Up for 2,603 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
$40.6K $15.60/SF
− Vacancy
−$2.5K −$0.97/SF
EGI
$38.1K $14.63/SF
− OpEx
−$17.1K −$6.58/SF
NOI
$20.9K $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%
$418,980
Cap Rate 7%
$299,271
Cap Rate 9%
$232,767
Alternative Uses
Best Use
Multifamily LT 5
$335.9K
$293.9K – $391.9K
NOI $23,511 @ 7.0% cap · market cap 9.41%
Second Best
Apartment 5plus
$299.3K
$261.9K – $349.2K
NOI $20,949 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$576.9K
$504.8K – $673.0K
NOI $40,382 @ 7.0% cap · market cap 16.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,230
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with all units occupied by tenants and a varied bedroom configuration.
Where is this triplex located?
The property is located at 53 Orchard St Auburn, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Three‑unit triplex with all units currently tenant occupied; Six bedrooms and 3 bathrooms across the property; Unit mix includes one 4‑bedroom unit and two 1‑bedroom units
