1129 Summit Pl · Utica, NY 13501

$123,000

3 bd · 1.5 ba · 2,152 sqft · SingleFamily public records · 30 Days on market

Built 1890 4,200 sqft lot Est $204k · 40% under

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +4.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious, move in ready 2 story, offering multiple rooms to fit all your needs! With so many options, come check this home out before it’s gone!

Key facts

• Pocket doors
• Original woodwork
• Original staircase

Tags

• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• DECORATIVE FIREPLACES
• POCKET DOORS
• ORIGINAL STAIRCASE
• SECOND-STORY COVERED PORCH

Property features AI

Exterior

• Parking: Driveway (no garage)
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; High-speed internet available; Cable available
• Home design: 2-story house; Resale property; City street frontage; Rectangular lot near public transit
• Construction: Brick, vinyl siding, and wood siding exterior; Asphalt roof; Stone foundation; Built as existing structure
• Exterior features: Private yard; Fully fenced yard; Covered and open porch; Blacktop driveway; Shed(s)/storage; See remarks

Interior

• Kitchen: Gas range; Gas oven; Refrigerator
• Bedrooms: One bedroom on the main level; Five total bedrooms (bedroom 1 on first floor; bedrooms 2–5 on second floor)
• Flooring: Hardwood; Tile; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Separate/formal dining room; Natural woodwork; Storm windows
• Laundry & utility: Main-level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $655 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $123k).
• Recommended offer: $121k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% 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, schools 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.
• Market conditions: 143 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• This rent runs 43% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($850 loan paydown + $12k 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $95k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,155 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 12.68%
• Cash-on-cash: 22.81%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $204,440
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Rutger St	0.50mi	3/2.0	1,994 (-7%)	12mo	$163,000	$82	53
1309 Neilson St	0.39mi	4/3.5 (+1)	2,225 (+3%)	22mo	$245,000	$110	45
1548 Kemble St	0.57mi	4/2.0 (+1)	1,906 (-11%)	14mo	$180,200	$95	36
1628 Miller St	0.74mi	4/1.0 (+1)	1,900 (-12%)	7mo	$55,000	$29	33
705 Second St	0.68mi	4/3.0 (+1)	1,864 (-13%)	14mo	$220,000	$118	23

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: 41.4%
• Equity multiple: 4.16×
• Total profit: $108,708
• Equity at exit: $110,808

10-year hold

• IRR: 35.7%
• Equity multiple: 9.34×
• Total profit: $287,372
• Equity at exit: $238,962

Cash invested: $34,440 (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: 143
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,885 medium
• Mortgage (P&I): −$645
• Tax from tax record: −$138 /mo · $1,661/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $655

Break-even live

Break-even rent $1,057

Max offer price $123,000

Occupancy floor 60%

Sensitivity live

Price	-10% $724	-5% $690	+0% $655	+5% $620	+10% $585
Rent	-10% $506	-5% $580	+0% $655	+5% $729	+10% $804
Rate	-1.0pp $717	-0.5pp $686	base $655	+0.5pp $623	+1.0pp $590

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1642 Taylor Ave #1644 Utica, NY	3.0	1.0	2600	$1,650	$0.63	44d	1	0.91mi
807 Eagle St Utica, NY	3.0	1.0	1526	$1,300	$0.85	44d	1	1.05mi
1804 Storrs Ave Utica, NY	3.0	1.5	1633	$3,000	$1.84	44d	1	1.11mi

Listing history 21 events

1. 2026-06-18
   status $123,000 Pending 30 DOM
2. 2026-06-18
   days on market $123,000 Active 30 DOM
3. 2026-06-17
   days on market $123,000 Active 29 DOM
4. 2026-06-16
   days on market $123,000 Active 28 DOM
5. 2026-06-15
   days on market $123,000 Active 27 DOM
6. 2026-06-14
   days on market $123,000 Active 25 DOM
7. 2026-06-13
   days on market $123,000 Active 24 DOM
8. 2026-06-10
   days on market $123,000 Active 22 DOM
9. 2026-06-09
   days on market $123,000 Active 21 DOM
10. 2026-06-08
    days on market $123,000 Active 20 DOM
11. 2026-06-07
    days on market $123,000 Active 19 DOM
12. 2026-06-03
    days on market $123,000 Active 15 DOM
13. 2026-06-02
    days on market $123,000 Active 14 DOM
14. 2026-06-01
    days on market $123,000 Active 13 DOM
15. 2026-05-31
    days on market $123,000 Active 12 DOM
16. 2026-05-30
    days on market $123,000 Active 11 DOM
17. 2026-05-19
    listed $123,000 Active
18. 2020-05-20
    soldstatus $94,900
19. 2020-05-15
    soldstatus $94,900 150-char remark

    Show marketing remark (150 chars)

    Spacious, move in ready 2 story, offering multiple rooms to fit all your needs! With so many options, come check this home out before it’s gone!

20. 2020-02-07
    listed $104,900 150-char remark

    Show marketing remark (150 chars)

    Spacious, move in ready 2 story, offering multiple rooms to fit all your needs! With so many options, come check this home out before it’s gone!

21. 2018-11-01
    soldstatus $36,000

ⓘ 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: $1,661 · $138/mo
• Projected year-2 tax: $1,870 · $156/mo
• Expected delta: +$209/yr (+$17/mo · 12.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $22,623
• − Mortgage interest: −$6,890
• − Property taxes: −$1,661
• − Insurance: −$615
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − Depreciation: −$3,578
• Taxable income: $6,260
• Est. tax owed @ 24.0%: −$1,502
• After-tax cash flow: $6,354/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

+241.7% since first listed

5 events — show timeline

• 2026-05-19 Listed $123,000 CNYIS
• 2020-05-20 Sold (Public Records) $94,900 Public Records
• 2020-05-15 Sold (MLS) $94,900 CNYIS
• 2020-02-07 Listed $104,900 CNYIS
• 2018-11-01 Sold (Public Records) $36,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,661 · +5.6% YoY. Source: county tax records.