1500 Conkling Ave · Utica, NY 13501

$249,000

9 bd · 3.0 ba · 3,793 sqft · MultiFamily public records · 22 Days on market

Built 1890 2,880 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Fully rented 3 Family w/ owner office/studio. Clean, neat well cared for. Owner doing some exterior work and has the paint for exterior waiting on weather.

Key facts

• New porch railings
• Separate gas meter
• Separate furnace

Tags

• SEPARATE ELECTRICAL METER
• SEPARATE GAS METER
• SEPARATE FURNACE
• NEW RUBBER MEMBRANE ROOF
• NEW PORCH RAILINGS
• NEW SHEETROCK WALLS

Property features AI

Finance

• Other: Multi-unit property with 3 total units; Three separate gas meters; Four separate electric meters
• Financial info: Owner pays water; Rent includes water; Operating expenses include snow removal and water/sewer

Exterior

• Parking: Two or more off-street parking spaces
• Utilities: Electricity connected with circuit breakers; Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: 3-story building; Resale property
• Construction: Aluminum siding; Membrane (rubber) roof
• Exterior features: Rectangular residential lot with 40 x 72 dimensions; City street frontage

Interior

• Flooring: Carpet; Ceramic tile; Vinyl; Varies
• Bathrooms: Three full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Has full basement; Carpet, ceramic tile, vinyl, and varied flooring throughout
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1-bath units multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $944/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $249k).
• Recommended offer: $245k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.2% 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; 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 22 days — a 2% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 $85k; list at $249k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,265 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.26% ✓
• Cap rate: 20.21%
• Cash-on-cash: 49.70%
• DSCR: 3.21
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 62.5%
• Equity multiple: 5.53×
• Total profit: $316,009
• Equity at exit: $224,319

10-year hold

• IRR: 56.1%
• Equity multiple: 12.31×
• Total profit: $788,776
• 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: 143
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $5,621 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$143 /mo · $1,720/yr
• Insurance: −$104
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,180
• Net cashflow: $2,832

Break-even live

Break-even rent $2,036

Max offer price $249,000

Occupancy floor 45%

Sensitivity live

Price	-10% $2,973	-5% $2,903	+0% $2,832	+5% $2,762	+10% $2,691
Rent	-10% $2,388	-5% $2,610	+0% $2,832	+5% $3,054	+10% $3,276
Rate	-1.0pp $2,958	-0.5pp $2,895	base $2,832	+0.5pp $2,768	+1.0pp $2,702

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$5,622
Total (3 units)			$5,621

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 24 events

1. 2026-06-19
   days on market $249,000 Active 22 DOM
2. 2026-06-18
   days on market $249,000 Active 21 DOM
3. 2026-06-17
   days on market $249,000 Active 20 DOM
4. 2026-06-16
   days on market $249,000 Active 19 DOM
5. 2026-06-15
   days on market $249,000 Active 18 DOM
6. 2026-06-14
   days on market $249,000 Active 16 DOM
7. 2026-06-13
   days on market $249,000 Active 15 DOM
8. 2026-06-10
   days on market $249,000 Active 13 DOM
9. 2026-06-09
   days on market $249,000 Active 12 DOM
10. 2026-06-08
    days on market $249,000 Active 11 DOM
11. 2026-06-07
    days on market $249,000 Active 10 DOM
12. 2026-06-03
    days on market $249,000 Active 6 DOM
13. 2026-06-02
    days on market $249,000 Active 5 DOM
14. 2026-06-01
    days on market $249,000 Active 4 DOM
15. 2026-05-31
    days on market $249,000 Active 3 DOM
16. 2026-05-30
    days on market $249,000 Active 2 DOM
17. 2026-05-28
    listed $249,000 Active
18. 2023-03-10
    soldstatus $85,000
19. 2013-09-20
    soldstatus $55,000 155-char remark

    Show marketing remark (155 chars)

    Fully rented 3 Family w/ owner office/studio. Clean, neat well cared for. Owner doing some exterior work and has the paint for exterior waiting on weather.

20. 2013-09-16
    soldstatus $50,000 154-char remark

    Show marketing remark (154 chars)

    Fully rented 3 Family w/ owner office/studio. Clean, neat well cared for. Owner doing some exterior work and has the paint for exterior waiting on weather

21. 2013-08-20
    soldstatus $50,000
22. 2013-03-12
    listed $59,900 154-char remark

    Show marketing remark (154 chars)

    Fully rented 3 Family w/ owner office/studio. Clean, neat well cared for. Owner doing some exterior work and has the paint for exterior waiting on weather

23. 2013-03-11
    listed $59,900 155-char remark

    Show marketing remark (155 chars)

    Fully rented 3 Family w/ owner office/studio. Clean, neat well cared for. Owner doing some exterior work and has the paint for exterior waiting on weather.

24. 2009-04-16
    soldstatus $30,000

ⓘ 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: $1,720 · $143/mo
• Projected year-2 tax: $2,964 · $247/mo
• Expected delta: +$1,244/yr (+$104/mo · 72.3%)

ⓘ 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 (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $67,452
• − Mortgage interest: −$13,948
• − Property taxes: −$1,720
• − Insurance: −$1,912
• − Repairs & maintenance: −$5,396
• − Management: −$5,396
• − Depreciation: −$7,244
• Taxable income: $31,836
• Est. tax owed @ 24.0%: −$7,641
• After-tax cash flow: $26,345/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

+730.0% since first listed

8 events — show timeline

• 2026-05-28 Listed $249,000 CNYIS
• 2023-03-10 Sold (Public Records) $85,000 Public Records
• 2013-09-20 Sold (MLS) $55,000 CNYIS
• 2013-09-16 Sold (MLS) $50,000 CNYIS
• 2013-08-20 Sold (Public Records) $50,000 Public Records
• 2013-03-12 Listed $59,900 CNYIS
• 2013-03-11 Listed $59,900 CNYIS
• 2009-04-16 Sold (Public Records) $30,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,720 · +5.6% YoY. Source: county tax records.