176 Hobart St · Utica, NY 13501

$89,900

7 bd · 3.0 ba · 3,325 sqft · MultiFamily public records · 16 Days on market

Built 1880 3,510 sqft lot

---

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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment property, consisting of 3 apartments. 1st floor side apartment is a 3 bedroom; 1st floor front apartment is a 1 bedroom and 2nd floor apartment is a 3 bedroom. Spacious units that need work, but once completed it will be a return on your investment. Small backyard and 2 parking spots in front of house. House is vacant. PROPERTY IS BEING SOLD IN AS IS CONDITION.

Key facts

• 3,510 sq ft lot
• Built 1880
• Listed 15 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Two-story residence; Resale property
• Construction: Construction details: see remarks
• Exterior features: See remarks

Interior

• Bedrooms: Three main-level bedrooms
• Flooring: Hardwood; Varies
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Gas heating (see remarks)
• Interior features: Hardwood and varied flooring; Full basement; Other interior features (see remarks)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 7-bed/3.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $3k ($38k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 49.0% 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).
• At $4,783/mo this rent would consume 109% of the median local household income ($53k/yr) (locally 2251% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k 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 $25k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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 $42k; list at $90k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — 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 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: 5.32% ✓
• Cap rate: 48.99%
• Cash-on-cash: 152.48%
• DSCR: 7.78
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $219,450
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1506 Oneida St	0.36mi	6/2.0 (-1)	3,120 (-6%)	3mo	$170,000	$54	62
1432 Seymour Ave	0.32mi	6/2.5 (-1)	3,234 (-3%)	18mo	$220,000	$68	58
318 Lansing St	0.64mi	6/3.0 (-1)	3,202 (-4%)	1mo	$210,000	$66	58
1513 Taylor Ave	0.52mi	7/3.0	3,258 (-2%)	20mo	$185,000	$57	56
136 Eagle St	0.18mi	6/2.0 (-1)	2,994 (-10%)	17mo	$130,000	$43	51
612 Henry St	0.52mi	7/2.0	2,844 (-14%)	2mo	$155,000	$55	46
107-109 Clinton Pl	0.37mi	6/4.0 (-1)	3,624 (+9%)	16mo	$210,000	$58	45
808 Waverly Pl	0.69mi	8/3.0 (+1)	3,440 (+4%)	19mo	$97,900	$28	41
1664 Miller St	0.60mi	6/2.0 (-1)	2,912 (-12%)	3mo	$199,900	$69	40
30 32 Watson Pl	0.66mi	6/2.0 (-1)	3,050 (-8%)	9mo	$250,290	$82	39
1527 Oneida St	0.37mi	6/3.0 (-1)	2,840 (-15%)	19mo	$189,000	$67	37
110 Thomas St	0.70mi	6/2.5 (-1)	2,888 (-13%)	18mo	$200,000	$69	23

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

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 11.04×
• Total profit: $252,724
• Equity at exit: $80,989

10-year hold

• IRR: —
• Equity multiple: 24.21×
• Total profit: $584,124
• Equity at exit: $174,656

Cash invested: $25,172 (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: 4.3×

Monthly cashflow live

• Estimated rent: $4,783 high
• Mortgage (P&I): −$471
• Tax from tax record: −$71 /mo · $854/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,004
• Net cashflow: $3,199

Break-even live

Break-even rent $734

Max offer price $89,900

Occupancy floor 28%

Sensitivity live

Price	-10% $3,249	-5% $3,224	+0% $3,199	+5% $3,173	+10% $3,148
Rent	-10% $2,821	-5% $3,010	+0% $3,199	+5% $3,387	+10% $3,576
Rate	-1.0pp $3,244	-0.5pp $3,221	base $3,199	+0.5pp $3,175	+1.0pp $3,152

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,486
1× unit	1	1	$1,297
Total (3 units)			$4,783

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $89,900 Active 16 DOM
2. 2026-06-18
   days on market $89,900 Active 15 DOM
3. 2026-06-17
   days on market $89,900 Active 14 DOM
4. 2026-06-16
   days on market $89,900 Active 13 DOM
5. 2026-06-15
   days on market $89,900 Active 12 DOM
6. 2026-06-14
   days on market $89,900 Active 10 DOM
7. 2026-06-13
   days on market $89,900 Active 9 DOM
8. 2026-06-10
   days on market $89,900 Active 7 DOM
9. 2026-06-09
   days on market $89,900 Active 6 DOM
10. 2026-06-08
    days on market $89,900 Active 5 DOM
11. 2026-06-07
    days on market $89,900 Active 4 DOM
12. 2026-06-03
    remarks 108-char remark
13. 2026-06-03
    listed $89,900 Active 1 DOM

ⓘ 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: $854 · $71/mo
• Projected year-2 tax: $1,187 · $99/mo
• Expected delta: +$333/yr (+$28/mo · 39.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 2/10 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: $57,396
• − Mortgage interest: −$5,036
• − Property taxes: −$854
• − Insurance: −$450
• − Repairs & maintenance: −$4,592
• − Management: −$4,592
• − Depreciation: −$2,615
• Taxable income: $39,258
• Est. tax owed @ 24.0%: −$9,422
• After-tax cash flow: $28,960/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

+349.5% since first listed

14 events — show timeline

• 2026-06-03 Listed $89,900 CNYIS
• 2024-10-03 Sold (Public Records) $42,000 Public Records
• 2024-08-22 Sold (MLS) $42,000 CNYIS
• 2024-01-12 Pending — CNYIS
• 2023-06-21 Pending — CNYIS
• 2023-06-14 Price Changed $64,000 CNYIS
• 2023-05-21 Listed $69,900 CNYIS
• 2022-09-29 Listing Removed — CNYIS
• 2022-05-27 Price Changed $79,999 CNYIS
• 2022-03-30 Listed $89,900 CNYIS
• 2008-07-28 Sold (Public Records) $32,000 Public Records
• 2006-04-27 Sold (Public Records) $25,000 Public Records
• 2002-07-31 Listing Removed — CNYIS
• 2002-04-17 Listed $20,000 CNYIS

Property tax history

+4.0%/yr

Latest (2025): $854 · +5.6% YoY. Source: county tax records.