502 Utica St · Fulton, NY 13069

$50,000

3 bd · 1.5 ba · 1,813 sqft · SingleFamily public records · 7 Days on market

Built 1891 4,356 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 +8.4/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This 3 bedroom, 1 1/2 bath two-story home is situated on a corner lot and offers plenty of potential for its next owner.

Key facts

• 4,356 sq ft lot
• Built 1891
• Listed 7 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: 2-story home; Existing construction; Wood siding
• Construction: Block foundation
• Exterior features: Dirt driveway; Corner, rectangular residential lot; 66 x 66 lot dimensions; City street frontage

Interior

• Kitchen: Country-style kitchen
• Bedrooms: 3 main-level bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Forced air heating; Has heating
• Interior features: Separate/formal living room; Country kitchen; Partial basement
• Laundry & utility: Laundry in basement; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $979 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Cap rate 29.8% vs local median 6.9% in Fulton — 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 61/100 on livability (#907 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools D-, crime F.
• Fulton City School District (town): math 29% / reading 43% proficiency, ranked #554 of 590 in NY (top 94%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 115 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($346 loan paydown + $3k appreciation (6.8% local appreciation)).
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1891 — 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: 3.35% ✓
• Cap rate: 29.78%
• Cash-on-cash: 83.89%
• DSCR: 4.73
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $161,357
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 Seneca St	0.21mi	4/1.0 (+1)	1,726 (-5%)	2mo	$111,300	$64	74
608 Seneca St	0.20mi	4/2.0 (+1)	1,942 (+7%)	0mo	$149,900	$77	72
368 S 7th St	0.43mi	4/1.5 (+1)	1,842 (+2%)	3mo	$162,000	$88	70
362 S 4th St	0.45mi	4/1.5 (+1)	1,812 (-0%)	8mo	$180,000	$99	67
1021 Cayuga St	0.48mi	3/1.0	1,743 (-4%)	3mo	$95,000	$55	67
890 Cayuga St	0.39mi	4/1.5 (+1)	1,716 (-5%)	4mo	$110,000	$64	64
17 N 5th St	0.18mi	4/2.0 (+1)	1,650 (-9%)	7mo	$192,000	$116	64
205 S 4th St	0.22mi	4/1.5 (+1)	2,004 (+10%)	8mo	$215,000	$107	61
264 S 5th St	0.29mi	3/3.0	2,034 (+12%)	9mo	$193,500	$95	52
121 Lyon St	0.70mi	3/2.0	1,684 (-7%)	5mo	$42,500	$25	50
57 W 1st St S	0.59mi	3/1.5	1,590 (-12%)	5mo	$180,000	$113	48
410 Park St	0.54mi	4/1.5 (+1)	1,595 (-12%)	10mo	$141,400	$89	41

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

Projected returns pro-forma

6.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 91.0%
• Equity multiple: 6.65×
• Total profit: $79,043
• Equity at exit: $33,822

10-year hold

• IRR: 88.1%
• Equity multiple: 14.09×
• Total profit: $183,253
• Equity at exit: $63,510

Cash invested: $14,000 (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 13069

• Home prices YoY: 2.3%
• Active inventory: 115
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $979

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,013	-5% $996	+0% $979	+5% $961	+10% $944
Rent	-10% $846	-5% $913	+0% $979	+5% $1,045	+10% $1,111
Rate	-1.0pp $1,004	-0.5pp $991	base $979	+0.5pp $966	+1.0pp $953

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 S 5th St Fulton, NY	4.0	1.5	1800	$1,850	$1.03	14d	1	0.30mi
115 W 1st St S Unit 2 Fulton, NY	2.0	1.0	1958	$1,400	$0.72	14d	1	0.59mi
262 W 4th St S Unit 1 Fulton, NY	3.0	1.0	1316	$1,500	$1.14	44d	1	0.86mi

Listing history 2 events

1. 2026-05-30
   status $50,000 Pending 7 DOM
2. 2026-05-22
   listed $50,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,115
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$1,455
• Taxable income: $11,642
• Est. tax owed @ 24.0%: −$2,794
• After-tax cash flow: $8,951/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: Fulton City School District
• NCES district ID: 3611700
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 43% ▲ 5.00%
• Median HH income: $43,337
• Composite: 30.49/100
• National rank: #6220
• State rank: #554 of 590 in NY

Livability — Fulton

• Score: 61/100
• State rank: #907
• US rank: #17723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fulton, NY
• Population (ZIP): 23,176

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Lithuanian 6% Romanian 6% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.75%
• Current HPI: 304.443
• 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

1 event — show timeline

• 2026-05-22 Listed $50,000 CNYIS

Property tax history

+10.0%/yr

Latest (2025): $2,690 · +2.4% YoY. Source: county tax records.