Updated Two-Unit
New
For Sale
$174,900
73 Steel St, Auburn, NY 13021
Two apartments each contain two bedrooms and one bathroom, with garage storage and off-street parking.
Property Size1,870 SF
Days on Market2
Property Features for 73 Steel St
General Information
Standard status
Active
Size
1,870 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
ready for a little TLC
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,907
Building Details
Building Size
1,870 SF
Year Built
1910
Stories
2
Units
2
Listed By:
Patricia M. Schlegel
(315) 730-8809
Source:
Elliman
Added: Nov 4
Last Checked: Nov 4 at 2:45PM
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 Patricia M. Schlegel
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Investment Insights
Based on property information with market context.
This 1910 duplex contains two apartments, each configured with two bedrooms and one bathroom. The lower residence has received some updates, while the upper unit is described as needing some work. Recent improvements include a newer furnace, roof, and hot water heaters. A large garage provides parking or storage, and tenants have access to off-street parking and a yard.
Y-Field is directly across Steel Street, and downtown Auburn and Owasco Lake are a short drive away. The property has a Walk Score of 68 and a Bike Score of 48.
Y-Field is directly across Steel Street, and downtown Auburn and Owasco Lake are a short drive away. The property has a Walk Score of 68 and a Bike Score of 48.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- Built in 1910
- Newer furnace, roof, and hot water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,050
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,000
$301.0K
Cap Rate 7%
$215,000
$215.0K
Cap Rate 9%
$167,222
$167.2K
Market Conditions
NOI Build-Up for 1,870 SF
Gross rent
$29.2K $15.60/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$27.4K $14.63/SF
− OpEx
−$12.3K −$6.58/SF
NOI
$15.0K $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 Rate 5%
$301,000
Cap Rate 7%
$215,000
Cap Rate 9%
$167,222
Alternative Uses
Best Use
Multifamily LT 5
$241.3K
$211.1K – $281.5K
NOI $16,890 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$215.0K
$188.1K – $250.8K
NOI $15,050 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$414.4K
$362.6K – $483.5K
NOI $29,010 @ 7.0% cap · market cap 16.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
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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 - Two apartments each contain two bedrooms and one bathroom, with garage storage and off-street parking.
Where is this duplex located?
The property is located at 73 Steel St 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 apartments, each with 2 bedrooms and 1 bathroom; Built in 1910; Newer furnace, roof, and hot water heaters
