1303 Neilson St · Utica, NY 13501

$249,000

6 bd · 2.0 ba · 2,000 sqft · MultiFamily public records · 56 Days on market

Built 1920 2,760 sqft lot $124/sqft · 23% above area Est $202k · 23% over

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.5/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.0/10.0
• Livability +4.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Beautiful, well-maintained two-family home with a finished attic and numerous upgrades. Recent improvements include new water heaters, furnaces, roof, siding, and spray foam insulation throughout the home and basement. The first-floor unit features three bedrooms, while the second-floor unit offers two spacious bedrooms.

Key facts

• 2,760 sq ft lot
• Parking
• Built 1920

Property features AI

Finance

• Other: Operating expenses include insurance, maintenance (structure and general), snow removal, and water/sewer
• Financial info: Two-unit property with separate gas and electric meters for each unit; Tenant(s) pay all utilities; Reported rent for one unit: $700 (month-to-month)

Exterior

• Parking: Carport
• Utilities: Public water (connected); Sewer connected
• Home design: Two-story building; Existing property (resale)
• Construction: Vinyl siding; Spray foam insulation
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 46 x 60

Interior

• Kitchen: Oven/Range; Refrigerator; Formal dining area
• Bedrooms: One unit with 2 bedrooms; One unit with 3 bedrooms
• Flooring: Tile; Vinyl; Varies
• Bathrooms: Three full bathrooms total (unit breakdown: one unit with 2 full baths, one unit with 1 full bath)
• Heating & cooling: Gas forced-air heating
• Interior features: Attic; Full basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $890 ($11k/yr) — positive. Per door: $445/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 7.7% in Utica — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#104 in NY, #1,589 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, crime F.
• Utica City School District (urban): math 33% / reading 38% proficiency, ranked #562 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Martin Luther King Jr Elementary School (math 17% / reading 27%, grade F, #1,923 of 2,108 statewide, top 92%, 303 students, 91% FRL); John F Kennedy Middle School (math 27% / reading 35%, grade F, #534 of 729 statewide, top 73%, 695 students, 77% FRL); Thomas R Proctor High School (math 86% / reading 62%, grade B+, #659 of 1,100 statewide, top 60%, 2,675 students, 76% FRL).
• Market conditions: 144 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $16k; list at $249k implies a 1453% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 10.58%
• Cash-on-cash: 15.32%
• DSCR: 1.68
• GRM: 7.0

CMA / ARV

• ARV (median comp): $202,001
• List price: $249,000
• Delta: 23.27%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1534 Brinckerhoff Ave	0.31mi	5/2.0 (-1)	2,044 (+2%)	1mo	$158,000	$77	76
141 Eagle St	0.35mi	5/2.0 (-1)	2,193 (+10%)	6mo	$36,500	$17	58
1529 Dudley Ave	0.31mi	6/2.0	2,194 (+10%)	21mo	$55,000	$25	52
1004 Rudolph Pl	0.67mi	6/2.0	2,112 (+6%)	10mo	$145,000	$69	51
514 Mary St	0.68mi	5/2.0 (-1)	2,096 (+5%)	13mo	$75,000	$36	44
1415 Elm St	0.39mi	5/2.0 (-1)	2,260 (+13%)	19mo	$90,000	$40	39
629 Lansing St	0.72mi	6/2.0	1,840 (-8%)	18mo	$59,900	$33	38
504 Arthur St	0.31mi	6/3.0	2,288 (+14%)	24mo	$130,000	$57	38
1681 West St	0.66mi	6/2.0	2,216 (+11%)	21mo	$200,000	$90	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.6%
• Equity multiple: 3.76×
• Total profit: $192,172
• Equity at exit: $224,319

10-year hold

• IRR: 30.6%
• Equity multiple: 8.47×
• Total profit: $521,121
• Equity at exit: $483,752

Cash invested: $69,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 13501

• Home prices YoY: 5.6%
• Active inventory: 144
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,978 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$53 /mo · $639/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $890

Break-even live

Break-even rent $1,852

Max offer price $249,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,031	-5% $960	+0% $890	+5% $819	+10% $749
Rent	-10% $655	-5% $772	+0% $890	+5% $1,007	+10% $1,125
Rate	-1.0pp $1,015	-0.5pp $953	base $890	+0.5pp $825	+1.0pp $760

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,978
Total (2 units)			$2,978

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-23
   days on market $249,000 Active 56 DOM
2. 2026-06-22
   days on market $249,000 Active 55 DOM
3. 2026-06-19
   days on market $249,000 Active 53 DOM
4. 2026-06-18
   days on market $249,000 Active 52 DOM
5. 2026-06-17
   days on market $249,000 Active 51 DOM
6. 2026-06-16
   days on market $249,000 Active 50 DOM
7. 2026-06-15
   days on market $249,000 Active 49 DOM
8. 2026-06-14
   days on market $249,000 Active 47 DOM
9. 2026-06-13
   days on market $249,000 Active 46 DOM
10. 2026-06-10
    days on market $249,000 Active 44 DOM
11. 2026-06-09
    days on market $249,000 Active 43 DOM
12. 2026-06-08
    days on market $249,000 Active 42 DOM
13. 2026-06-07
    days on market $249,000 Active 41 DOM
14. 2026-06-03
    days on market $249,000 Active 37 DOM
15. 2026-06-02
    days on market $249,000 Active 36 DOM
16. 2026-06-01
    days on market $249,000 Active 35 DOM
17. 2026-05-31
    days on market $249,000 Active 34 DOM
18. 2026-05-30
    days on market $249,000 Active 33 DOM
19. 2026-04-27
    listed $249,000 Active 322-char remark
20. 2006-11-08
    historical
21. 2006-09-05
    listed $59,900
22. 2002-02-13
    soldstatus $16,038

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $639 · $53/mo
• Projected year-2 tax: $2,424 · $202/mo
• Expected delta: +$1,784/yr (+$149/mo · 279.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,736
• − Mortgage interest: −$13,948
• − Property taxes: −$639
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,859
• − Management: −$2,859
• − Depreciation: −$7,244
• Taxable income: $6,943
• Est. tax owed @ 24.0%: −$1,666
• After-tax cash flow: $9,012/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Utica City School District
• NCES district ID: 3629370
• Math proficiency: 33% ▼ -7.00%
• Reading proficiency: 38% ▲ 2.00%
• Median HH income: $31,834
• Composite: 29.01/100
• National rank: #6613
• State rank: #562 of 590 in NY

Livability — Utica

• Score: 80/100
• State rank: #104
• US rank: #1589

Category grades

Amenities A Commute A+ Cost of living A+ Crime F Employment D Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Utica, NY
• County: Oneida County · 89,710 people
• City population: 72,968
• Metro: Utica-Rome, NY
• Population (ZIP): 38,931
• Household income: $52,548
• Rent vs Own: 49.2% rent · 50.8% own
• Severe rent burden: 2251.0

Population outlook (Oneida County) Hauer SSP2

• Today (2025): 225,223 people
• By 2030: 220,384 · -2.1%
• By 2040: 209,071 · -7.2%
• By 2050: 197,920 · -12.1%
• By 2075: 175,541 · -22.1%
• By 2100: 148,491 · -34.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 49% Two or more races 15% Hispanic / Latino 14% Black 14% Asian 14%
• Hispanic origin (detail): Puerto Rican 8% Dominican 4%
• Common ancestry: American 8% Romanian 3% Lithuanian 1%
• Foreign-born: 25% · Canada, Philippines, Vietnam
• Languages at home: 62% English-only · Other Asian/Pacific 11% Russian/Polish/Slavic 10% Spanish 9%

Political lean MEDSL · Oneida

• 2024 margin: Strong R (+21.3) · D 39.4% · R 60.6%
• 2008→2024 swing: -15.2pp toward R · 2008: -6.1pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+15.5 2016: R+21.1 2012: R+5.3 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 20.28%
• Current HPI: 382.3726
• Rent YoY: —
• Metro: Utica-Rome, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+1452.6% since first listed

4 events — show timeline

• 2026-04-27 Listed $249,000 CNYIS
• 2006-11-08 Listing Removed — CNYIS
• 2006-09-05 Listed $59,900 CNYIS
• 2002-02-13 Sold (Public Records) $16,038 Public Records

Property tax history

-4.4%/yr

Latest (2025): $639 · +101.7% YoY. Source: county tax records.