930 Brayton Park Pl

Utica, NY 13502

$179,900B+

5 bd · 3.0 ba · 2,384 sqft · Built 1920 · MultiFamily · Active · 124 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,745/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$1,206
• Net cashflow: $3,407/mo
• Annual: $40,879/yr
• Cap rate: 29.02%
• Cash-on-cash: 81.15%
• DSCR: 4.61
• 1% rule: 3.19%
• Cash to close: $50,372

Investor read

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $180k. Condition is rated fair.
• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $180k).
• It's been on market 124 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• 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: Kernan Elementary School (math 16% / reading 33%, grade F, #1,846 of 2,108 statewide, top 91%, 566 students, 81% FRL); Senator James H Donovan Middle School (math 19% / reading 30%, grade F, #611 of 729 statewide, top 88%, 730 students, 84% FRL); Thomas R Proctor High School (math 86% / reading 62%, grade B+, #659 of 1,100 statewide, top 60%, 2,675 students, 76% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 301 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• Oneida County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 19y 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 $17k; list at $180k implies a 941% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 29.0% vs local median 7.8% 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.
• This rent per unit runs 40% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?

Repairs flagged (vision-AI assessment)

• Major: roof — The satellite image suggests significant damage.
• Major: siding — The siding is peeling and the paint is faded.
• Major: HVAC/mechanicals — No systems are visible, but the exterior condition suggests they may be outdated or in poor condition.
• Major: landscaping — The landscaping is overgrown and unkempt, which detracts from the property's curb appeal.