$50,000 Endicott, NY Multi-Family Property Has 5 Units and 4,086 Sq Ft

A multi-family property at 105 Madison Ave in Endicott, New York, is currently being offered with a starting auction bid of $50,000. The property includes five bedrooms, five full bathrooms, and approximately 4,086 square feet of finished living space.

According to the listing, the building has been newly renovated and stabilized and is configured as a five-unit property. It also includes off-street parking and sits on a level lot of approximately 6,969 square feet.

The property is located within the North End/Tc Peck Farm area of Endicott and is zoned Central Business District. The listing also states that the building is located within a federally designated Opportunity Zone.

There are several details that make this listing worth examining, particularly for buyers interested in multi-family real estate. At the same time, the $50,000 figure is specifically described as the starting bid at auction, rather than a conventional fixed asking price. Buyers should therefore review the auction terms, property records, occupancy information, renovation details, and all available financial documentation before making a decision.

The $50,000 Figure Is an Auction Starting Bid

The first thing prospective buyers need to understand is how the advertised price works.

The property is listed at $50,000, but the description clearly says that this amount represents the starting bid. That means the final purchase price could be different depending on the auction process and competing bids.

This distinction is important when comparing the property with other multi-family listings in the area. A starting auction price should not automatically be interpreted as the property’s final market value or as the amount a buyer will ultimately pay.

The listing also shows a previous price reduction of $189,000 on September 10, making the current auction starting figure substantially different from the earlier advertised price.

Anyone considering the property should obtain the complete auction documentation and confirm:

• The auction date and bidding procedure
• Required deposits
• Buyer’s premiums or additional fees, if applicable
• Accepted forms of payment
• Closing requirements
• Whether financing is permitted
• Whether the property is being sold subject to existing leases or other agreements

These details can materially affect the total cost of acquiring a property.

A Five-Unit Multi-Family Building

The property is described as a newly renovated and stabilized five-unit building.

That configuration is significant because the building is not being marketed simply as a traditional single-family home. Its multi-family layout is designed around multiple residential units, making the property relevant to buyers looking specifically at multi-unit real estate.

The listing provides a total of 4,086 square feet of finished above-ground interior space. It also lists five bedrooms and five full bathrooms.

Because the property is described as five units, prospective buyers should verify the exact unit configuration through the listing agent, municipal records, and other available documentation. Information such as the number of bedrooms and bathrooms shown on a real estate platform does not necessarily provide a complete picture of how each individual apartment is configured.

Unit sizes, current rents, lease terms, occupancy, utilities, and permitted use are especially important pieces of information for anyone evaluating a multi-family property.

Renovated and Stabilized, According to the Listing

One of the main selling points in the listing is the statement that the building has been newly renovated and stabilized.

The listing also says that the property has modern updates throughout. However, the available summary does not provide a detailed breakdown of every renovation completed.

That makes it worthwhile for prospective buyers to request documentation describing the work.

Depending on what was renovated, buyers may want to review information about:

• Electrical systems
• Plumbing
• Heating
• Bathrooms
• Kitchens
• Flooring
• Windows and doors
• Roofing
• Common areas
• Fire and safety systems
• Building permits
• Certificates of occupancy

The property was originally constructed in 1930, so its age remains relevant even if significant renovations have been completed.

A recently renovated building can still have older structural components or systems that were not part of the renovation. A professional inspection and review of available permits can help establish exactly what has been updated.

4,086 Square Feet of Interior Space

The listing reports 4,086 square feet of total interior livable area, all of it listed as finished above ground.

At the current starting bid, the advertised figure works out to approximately $12 per square foot based on the listing’s calculation.

That number can be useful as a simple way to compare the listing with other properties, but it should not be treated as a complete measure of value.

For a multi-family building, the relationship between purchase price and usable space is only one part of the picture. Unit configuration, rental income, operating costs, taxes, condition, zoning, location, and occupancy can all influence how a property is evaluated.

The relatively large interior footprint also means there is a substantial amount of space to maintain. Buyers should consider both the potential income-producing area and the ongoing costs associated with operating a multi-unit building.

Five Full Bathrooms

The property has five full bathrooms, according to the available facts and features.

Having five bathrooms in a building described as five units may be consistent with the multi-family configuration, although buyers should verify the exact arrangement.

Bathroom count can be particularly relevant in rental properties because individual tenants may expect private or conveniently located facilities. The actual layout, however, matters more than the headline number.

A buyer should therefore request floor plans or unit-level information where available.

Heating Is Provided by Radiators and Steam

The property’s heating system is listed as radiators and steam.

This type of heating is commonly associated with older buildings, which fits the property’s 1930 construction date.

For a prospective owner, the important questions are not simply whether steam heat exists, but how the system performs and what condition it is in.

A professional inspection could examine the boiler, radiators, piping, controls, insulation, and other related components. Buyers should also request information about heating costs and maintenance history if that information is available.

The listing does not identify a cooling system, with no cooling listed in the property facts.

That could be relevant for future operating expenses and tenant expectations, particularly during warmer months.

Hardwood, Laminate and Vinyl Flooring

The interior flooring is listed as a combination of hardwood, laminate, and vinyl.

Different flooring materials may be present in different apartments or areas of the building.

Hardwood can contribute to the traditional character of an older property, while laminate and vinyl can offer practical options for high-traffic areas. However, the condition of each floor should be evaluated individually.

Since the property is being presented as recently renovated, buyers may want to confirm which flooring was installed as part of the renovation and which elements predate the recent work.

The Property Has a Basement

The construction information identifies a basement foundation.

The available listing information does not provide extensive details about the basement’s condition, finish level, storage capacity, or mechanical layout.

For an older multi-family property, the basement can be an important area to inspect.

Potential buyers should look for signs of moisture, water intrusion, foundation movement, plumbing issues, electrical concerns, and the condition of mechanical equipment. The basement may also contain components serving multiple apartments, making access and maintenance particularly important.

Off-Street Parking Is Included

The property includes a private off-street parking lot.

Parking can be an important practical feature for a multi-family building, especially when several residential units share the property.

The listing also states that ownership receives $50 per month from Domino’s for parking lot use, along with up to five free pizzas per year.

This is a specific arrangement described by the seller and should be verified as part of the buyer’s due diligence. A prospective purchaser should determine whether the parking agreement transfers with the property, whether it is documented in writing, and whether the arrangement has any expiration date or other conditions.

The $50 monthly amount represents a relatively small but clearly identified recurring payment. Over a full year, that would amount to $600 before considering any taxes, expenses, or changes to the arrangement.

It should not, however, be treated as a forecast of the property’s overall income.

A Level 6,969-Square-Foot Lot

The property sits on a lot measuring approximately 6,969 square feet, with dimensions listed at about 50 by 137 feet.

The lot is described as level, which can be useful for parking, access, maintenance, and general property use.

Because the property is in a more developed area of Endicott and has Central Business District zoning, the relationship between the building and its surrounding land is particularly important.

Buyers should verify exactly what uses are permitted under the current zoning designation. Zoning classifications can allow or restrict different residential, commercial, or mixed-use activities, and the property’s existing use should be confirmed with the appropriate local authorities.

Central Business District Zoning

The property is listed with zoning of Central Business District.

This is an important detail because zoning is not merely a description of the neighborhood. It can affect how a property may legally be used, renovated, expanded, or converted.

Anyone considering the building should confirm the current zoning regulations and determine whether the existing five-unit configuration is fully compliant.

If a buyer is considering changing the use, adding units, modifying common areas, or making other substantial alterations, those plans should be reviewed with the local municipality before assuming they are permitted.

Built in 1930

The building dates to 1930, giving it nearly a century of history.

Older multi-family buildings can have architectural characteristics and construction methods that differ substantially from newer properties. They may also require more attention to certain systems.

Even when a property has been renovated, buyers should investigate the underlying structure and major building components.

Among the areas worth reviewing are the roof, foundation, masonry or siding, plumbing, electrical service, heating system, windows, drainage, and basement.

The age of the building alone does not establish that any of these components are defective. It simply makes a detailed inspection and review of renovation records especially useful.

Public Water and Sewer

The property is connected to public water and public sewer, according to the listing.

This is different from properties that rely on private wells or septic systems and can simplify certain aspects of property management.

Nevertheless, buyers should confirm the condition and responsibility for service lines, as well as any outstanding municipal charges or utility-related issues.

For a multi-family building, it is also useful to understand how utilities are metered and billed. Whether utilities are separately metered for each unit or paid by the property owner can have a meaningful effect on operating expenses.

The current listing information does not provide those details.

Located in an Opportunity Zone

The listing states that 105 Madison Ave is located within a federally designated Opportunity Zone.

The seller also connects the property with broader revitalization and investment activity in Endicott.

The description references nearby Washington Avenue and mentions investment involving solar manufacturers and a federal research and development grant associated with the area’s technology-hub designation.

These are contextual claims from the property listing rather than guarantees about the future performance of the neighborhood or the property.

Buyers interested in Opportunity Zone-related tax considerations should consult a qualified tax professional. The designation itself does not automatically mean that every purchaser or investment strategy will receive a particular tax benefit.

What Buyers Should Verify Before the Auction

The combination of an auction sale, multi-family use, recent renovations, and older construction makes due diligence particularly important.

Before bidding, prospective buyers may want to obtain and review:

1. Current and historical rent information

If the five units are occupied, buyers should understand the current rents, lease terms, deposits, renewal dates, and payment history.

2. Unit configuration

The listing describes five units, but the headline facts show five bedrooms and five bathrooms. The exact apartment layouts should be confirmed.

3. Renovation documentation

Ask for details about recent work, permits, invoices, contractors, and inspections where available.

4. Zoning and certificates

Confirm that the current use and number of units are legally permitted.

5. Property condition

A qualified inspection can help identify issues that may not be visible in listing photographs.

6. Auction terms

Review the complete auction rules, deposits, deadlines, fees, and closing conditions.

7. Operating expenses

Taxes, insurance, utilities, maintenance, repairs, snow removal, property management, and other costs should be considered.

8. Parking agreement

The Domino’s parking arrangement should be reviewed to determine its exact terms and whether it transfers to a new owner.

Annual Property Taxes

The listing reports annual property taxes of approximately $5,927 and a tax-assessed value of $4,300.

These figures are supplied in the property listing and should be independently confirmed with the appropriate local records.

Property taxes are only one component of ownership expenses. A multi-family property can also involve insurance, utilities, maintenance, repairs, landscaping, snow removal, management costs, and capital expenditures.

For that reason, the advertised auction starting bid should not be confused with the total amount of money required to own and operate the property.

Why This Endicott Property Is Attracting Attention

At $50,000, the headline price is naturally the first thing that catches attention.

But the more important story is the combination of characteristics behind that number: a five-unit multi-family building, 4,086 square feet of interior space, recent renovations according to the listing, off-street parking, public utilities, and Central Business District zoning.

The property also sits in a location that the listing describes as part of broader revitalization efforts.

At the same time, the auction format changes how buyers should approach the opportunity. The starting bid is not necessarily the final acquisition price, and the property’s financial performance cannot be determined from the headline listing alone.

The most useful next step for an interested buyer would be to obtain the detailed financial, legal, occupancy, renovation, and auction documentation.

A Multi-Family Property That Requires Careful Review

105 Madison Ave offers a very different proposition from an ordinary residential listing.

It is a 1930-built multi-family building with five units, approximately 4,086 square feet of interior space, five full bathrooms, off-street parking, public water and sewer, and a level 6,969-square-foot lot. The listing describes the property as newly renovated and stabilized, while the auction starts at $50,000.

Those details provide plenty to investigate, but they do not tell the entire financial or legal story.

For buyers, the most important distinction is that $50,000 is the starting auction bid. The final price, transaction costs, unit income, operating expenses, condition, and legal status of the existing configuration all need to be established before making a bid.

With its multi-family layout and location in Endicott’s Central Business District, the property presents a listing that deserves careful examination rather than a decision based solely on the unusually low headline price.

As with any auction property, prospective buyers should review all available documents, inspect the building when permitted, verify zoning and occupancy, understand the auction terms, and obtain professional advice where appropriate before participating.

 

From Zillow