55 Utica St · Clinton, NY 13323

$589,000

7 bd · 3.0 ba · 2,746 sqft · MultiFamily public records · 188 Days on market

Built 1900 0.88 ac lot

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Why this score? — see what drove the C+ 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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +5.5/10.0
• Livability +4.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Prime Investment Opportunity in the Village of Clinton Located at 55 Utica Street, Clinton, NY, this two-building, four-unit complex presents a rare opportunity to own a high-performing, turnkey property in one of Central New York’s most sought-after communities. Three of the four units have been completely renovated since 2021, featuring modern finishes, updated appliances, and the conveniences today’s renters demand. Each unit offers in-unit laundry, enhancing tenant satisfaction and reducing turnover. The property mix includes two spacious 3-bedroom, 1½-bath units ideal for those seeking extra space, along with two well-appointed 1-bedroom, 1-bath units that consisten

Key facts

• Updated appliances
• Two building complex
• Modern finishes

Tags

• TWO BUILDING COMPLEX
• FOUR UNIT COMPLEX
• COMPLETELY RENOVATED UNITS
• MODERN FINISHES
• UPDATED APPLIANCES
• IN UNIT LAUNDRY

What this means for you Summary

Snapshot

• This is a 2×3bd/1.5ba + 2×1bd/1.5ba units multifamily listed at $589k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $317/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $589k).
• Recommended offer: $518k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 91/100 on livability (#2 in NY, #45 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: amenities D.
• Clinton Central School District (suburban): math 57% / reading 71% proficiency, ranked #185 of 590 in NY (top 31%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 41 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($518k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $150k; list at $589k implies a 293% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $518,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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.
10. 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.
11. 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: 1.10% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.62%
• DSCR: 1.43
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-14,783
• Equity at exit: $87,822

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $90,927
• Equity at exit: $50,926

Cash invested: $164,920 (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 13323

• Home prices YoY: -22.2%
• Active inventory: 41
• Price-to-rent: 28.0×

Monthly cashflow live

• Estimated rent: $6,506 medium
• Mortgage (P&I): −$3,089
• Tax from tax record: −$483 /mo · $5,798/yr
• Insurance: −$245
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,366
• Net cashflow: $1,267

Break-even live

Break-even rent $4,902

Max offer price $589,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,600	-5% $1,434	+0% $1,267	+5% $1,100	+10% $933
Rent	-10% $753	-5% $1,010	+0% $1,267	+5% $1,524	+10% $1,781
Rate	-1.0pp $1,563	-0.5pp $1,417	base $1,267	+0.5pp $1,114	+1.0pp $959

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,506
▸ 2× units	1	1.5	$3,000
Total (4 units)			$6,506

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: $147,250
• Closing costs: $17,670
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-20
   status Pending
2. 2026-03-29
   historical Active Under Contract
3. 2026-01-21
   price $589,000
4. 2026-01-21
   price $589,900
5. 2025-11-13
   listed $599,000 Active
6. 2021-05-14
   soldstatus $150,000
7. 1994-08-19
   soldstatus $70,000

ⓘ 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: $5,798 · $483/mo
• Projected year-2 tax: $7,876 · $656/mo
• Expected delta: +$2,078/yr (+$173/mo · 35.8%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,072
• − Mortgage interest: −$32,993
• − Property taxes: −$5,798
• − Insurance: −$3,612
• − Repairs & maintenance: −$6,246
• − Management: −$6,246
• − Depreciation: −$17,135
• Taxable income: $6,043
• Est. tax owed @ 24.0%: −$1,450
• After-tax cash flow: $13,751/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: Clinton Central School District
• NCES district ID: 3607770
• Math proficiency: 57% ▼ -11.00%
• Reading proficiency: 71% ▲ 6.00%
• Median HH income: $57,439
• Composite: 55.05/100
• National rank: #1290
• State rank: #185 of 590 in NY

Livability — Clinton

• Score: 91/100
• State rank: #2
• US rank: #45

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clinton, NY
• Population (ZIP): 11,014

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: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 3% Asian 2%
• Common ancestry: Romanian 8% Lithuanian 3% Italian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 1%

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: ▼ -83.30%
• Current HPI: 292.0471
• Rent YoY: —
• Metro: —
• 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

+741.4% since first listed

7 events — show timeline

• 2026-05-20 Pending — CNYIS
• 2026-03-29 Contingent — CNYIS
• 2026-01-21 Price Changed $589,000 CNYIS
• 2026-01-21 Price Changed $589,900 CNYIS
• 2025-11-13 Listed $599,000 CNYIS
• 2021-05-14 Sold (Public Records) $150,000 Public Records
• 1994-08-19 Sold (Public Records) $70,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $5,798 · -10.0% YoY. Source: county tax records.