1500 Redwood Ave · Utica, NY 13502

$234,900

3 bd · 1.5 ba · 1,518 sqft · SingleFamily public records · 110 Days on market

Built 1973 0.31 ac lot $155/sqft · 8% below area Est $254k · 8% under ↓ 11% since listing

---

Why this score? — see what drove the D- 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).

• ARV discount +10.9/15.0
• Cash flow +10.7/30.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare North Utica opportunity! After decades of pride in ownership, this is a chance to make a long-held one-owner home your own. This 4-bedroom, 1.5-bath raised ranch offers over 1,500 square feet of living space on a generous corner lot, giving you lots of space both inside and out! The first floor features updated flooring creating a cohesive feel across the main living areas. The raised ranch design offers practical separation of space, with an extra half bath and partially finished lower level ideal for den, home office, workout space, or playroom. Outside, you’ll love the sizable yard, a welcoming covered front porch, and the convenience of an attached garage with room for the car - plus plenty of storage! 100' of road frontage adds extra breathing room and curb presence that’s hard to find. This home is ready for its next chapter!

Key facts

• Sizable yard
• Covered front porch
• Raised ranch design

Tags

• CORNER LOT
• UPDATED FLOORING
• RAISED RANCH DESIGN
• PARTIALLY FINISHED LOWER LEVEL
• SIZABLE YARD
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-113 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (26.0% below list).
• Recommended offer: $174k (26.0% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 7.8% in Utica — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: General Herkimer Elementary School (math 29% / reading 42%, grade F, #1,566 of 2,108 statewide, top 74%, 597 students, 76% 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) — zoned schools at 76% FRL track the district average.
• Market conditions: 150 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• This rent runs 36% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 110 days — a 9% lower offer ($214k) is reasonable based on typical stale-listing flexibility.

Recommended offer $173,789 (26.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.74% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.06%
• DSCR: 0.91
• GRM: 11.3

CMA / ARV

• ARV (median comp): $253,972
• List price: $234,900
• Delta: -7.51%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 Briarcliff Ave	0.30mi	3/1.0	1,443 (-5%)	8mo	$157,500	$109	69
1427 Fairwood Dr	0.24mi	3/2.0	1,394 (-8%)	6mo	$260,000	$187	68
5720 Mapleton Dr	0.22mi	3/2.5	1,652 (+9%)	5mo	$414,500	$251	67
1502 Redwood Ave	0.02mi	3/1.5	1,319 (-13%)	18mo	$254,930	$193	62
1503 Redwood Ave	0.03mi	4/2.0 (+1)	1,694 (+12%)	14mo	$265,000	$156	61
1312 Fairwood Dr	0.45mi	3/1.5	1,416 (-7%)	16mo	$290,000	$205	54
510 Woodburne Dr	0.12mi	3/2.0	1,708 (+12%)	23mo	$340,000	$199	53
405 Richmond Rd	0.74mi	3/2.0	1,649 (+9%)	3mo	$67,000	$41	47
10830 Cosby Manor Rd	0.50mi	3/3.0	1,728 (+14%)	5mo	$225,000	$130	44
511 Parklane Dr	0.61mi	4/1.0 (+1)	1,334 (-12%)	7mo	$206,000	$154	38

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

Projected returns pro-forma

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

5-year hold

• IRR: -19.7%
• Equity multiple: 0.31×
• Total profit: $-45,320
• Equity at exit: $35,024

10-year hold

• IRR: -12.7%
• Equity multiple: 0.26×
• Total profit: $-48,969
• Equity at exit: $20,310

Cash invested: $65,772 (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 13502

• Home prices YoY: -12.1%
• Active inventory: 150
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$156 /mo · $1,875/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-113

Break-even live

Break-even rent $1,881

Max offer price $214,935

Occupancy floor —

Sensitivity live

Price	-10% $20	-5% $-47	+0% $-113	+5% $-180	+10% $-246
Rent	-10% $-250	-5% $-182	+0% $-113	+5% $-44	+10% $24
Rate	-1.0pp $5	-0.5pp $-53	base $-113	+0.5pp $-174	+1.0pp $-236

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-22
   days on market $234,900 Active 110 DOM
2. 2026-06-19
   days on market $234,900 Active 108 DOM
3. 2026-06-18
   days on market $234,900 Active 107 DOM
4. 2026-06-17
   days on market $234,900 Active 106 DOM
5. 2026-06-16
   days on market $234,900 Active 105 DOM
6. 2026-06-15
   days on market $234,900 Active 104 DOM
7. 2026-06-14
   days on market $234,900 Active 102 DOM
8. 2026-06-13
   statusdays on market $234,900 Active 101 DOM
9. 2026-06-02
   status $234,900 Pending 99 DOM
10. 2026-06-01
    days on market $234,900 Active 99 DOM
11. 2026-05-31
    days on market $234,900 Active 98 DOM
12. 2026-05-30
    days on market $234,900 Active 97 DOM
13. 2026-04-23
    price $234,900 860-char remark

    Show marketing remark (860 chars)

    Rare North Utica opportunity! After decades of pride in ownership, this is a chance to make a long-held one-owner home your own. This 4-bedroom, 1.5-bath raised ranch offers over 1,500 square feet of living space on a generous corner lot, giving you lots of space both inside and out! The first floor features updated flooring creating a cohesive feel across the main living areas. The raised ranch design offers practical separation of space, with an extra half bath and partially finished lower level ideal for den, home office, workout space, or playroom. Outside, you’ll love the sizable yard, a welcoming covered front porch, and the convenience of an attached garage with room for the car - plus plenty of storage! 100' of road frontage adds extra breathing room and curb presence that’s hard to find. This home is ready for its next chapter!

14. 2026-03-27
    price $244,900 860-char remark

    Show marketing remark (860 chars)

    Rare North Utica opportunity! After decades of pride in ownership, this is a chance to make a long-held one-owner home your own. This 4-bedroom, 1.5-bath raised ranch offers over 1,500 square feet of living space on a generous corner lot, giving you lots of space both inside and out! The first floor features updated flooring creating a cohesive feel across the main living areas. The raised ranch design offers practical separation of space, with an extra half bath and partially finished lower level ideal for den, home office, workout space, or playroom. Outside, you’ll love the sizable yard, a welcoming covered front porch, and the convenience of an attached garage with room for the car - plus plenty of storage! 100' of road frontage adds extra breathing room and curb presence that’s hard to find. This home is ready for its next chapter!

15. 2026-03-09
    price $254,900 860-char remark

    Show marketing remark (860 chars)

    Rare North Utica opportunity! After decades of pride in ownership, this is a chance to make a long-held one-owner home your own. This 4-bedroom, 1.5-bath raised ranch offers over 1,500 square feet of living space on a generous corner lot, giving you lots of space both inside and out! The first floor features updated flooring creating a cohesive feel across the main living areas. The raised ranch design offers practical separation of space, with an extra half bath and partially finished lower level ideal for den, home office, workout space, or playroom. Outside, you’ll love the sizable yard, a welcoming covered front porch, and the convenience of an attached garage with room for the car - plus plenty of storage! 100' of road frontage adds extra breathing room and curb presence that’s hard to find. This home is ready for its next chapter!

16. 2026-02-22
    listed $264,900 Active 860-char remark

    Show marketing remark (860 chars)

    Rare North Utica opportunity! After decades of pride in ownership, this is a chance to make a long-held one-owner home your own. This 4-bedroom, 1.5-bath raised ranch offers over 1,500 square feet of living space on a generous corner lot, giving you lots of space both inside and out! The first floor features updated flooring creating a cohesive feel across the main living areas. The raised ranch design offers practical separation of space, with an extra half bath and partially finished lower level ideal for den, home office, workout space, or playroom. Outside, you’ll love the sizable yard, a welcoming covered front porch, and the convenience of an attached garage with room for the car - plus plenty of storage! 100' of road frontage adds extra breathing room and curb presence that’s hard to find. This home is ready for its next chapter!

ⓘ 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: $1,875 · $156/mo
• Projected year-2 tax: $2,922 · $244/mo
• Expected delta: +$1,048/yr (+$87/mo · 55.9%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $20,855
• − Mortgage interest: −$13,158
• − Property taxes: −$1,875
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$6,833
• Taxable loss: −$5,523
• Est. tax savings @ 24.0%: +$1,325
• After-tax cash flow: $-31/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): 34,037
• Household income: $57,835
• Rent vs Own: 40.8% rent · 59.2% own
• Severe rent burden: 1604.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 11% Black 9% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 11% Lithuanian 3% American 2%
• Foreign-born: 12% · Canada, Philippines, China
• Languages at home: 81% English-only · Spanish 7% Russian/Polish/Slavic 4% Other Asian/Pacific 3%

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: ▼ -50.76%
• Current HPI: 368.3955
• 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

-11.3% since first listed

4 events — show timeline

• 2026-04-23 Price Changed $234,900 CNYIS
• 2026-03-27 Price Changed $244,900 CNYIS
• 2026-03-09 Price Changed $254,900 CNYIS
• 2026-02-22 Listed $264,900 CNYIS

Property tax history

+6.3%/yr

Latest (2025): $1,875 · +13.7% YoY. Source: county tax records.