813 Wager St · Utica, NY 13502

$187,500

6 bd · 2.0 ba · 2,122 sqft · MultiFamily public records · 6 Days on market

Built 1910

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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
• 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
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Incredible Investment Opportunity. Rent ready. Top Dollar Rent paid for this 6 on 6 flat. Each apartment features 3 bedrooms with 1 bath, living room, dining room, and kitchen. Move in condition. Separate Utilities. New Roof, New Windows, New Kitchens & Baths, New Flooring, New Lighting, and Doors. Freshly painted and ready for a tenant or owner occupant. Quiet one-way street. Centrally located near, school, work, and shopping. Move Right In!!!! Ready to Roll!!!

Key facts

• Separate utilities
• New kitchens
• Rent ready

Tags

• INVESTMENT OPPORTUNITY
• RENT READY
• SEPARATE UTILITIES
• NEW ROOF
• NEW WINDOWS
• NEW KITCHENS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $188k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $188k).
• Cap rate 15.2% 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: 150 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• At $3,277/mo this rent would consume 68% of the median local household income ($58k/yr) (locally 1604% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $71k; list at $188k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,500

Questions for the listing agent

1. Built in 1910 — 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: 1.75% ✓
• Cap rate: 15.18%
• Cash-on-cash: 31.73%
• DSCR: 2.41
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $110,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 Wager St	0.00mi	6/2.0	2,122 (0%)	1mo	$182,000	$86	99
1202 Stark St	0.07mi	6/2.0	2,200 (+4%)	3mo	$72,500	$33	88
935 Lenox Ave	0.23mi	6/2.0	2,180 (+3%)	12mo	$130,000	$60	74
714 Roberts St	0.30mi	7/2.0 (+1)	2,230 (+5%)	4mo	$115,000	$52	70
706 Roberts St	0.32mi	5/2.0 (-1)	2,060 (-3%)	7mo	$153,750	$75	70
711 Stevens St	0.18mi	6/2.0	2,337 (+10%)	9mo	$109,000	$47	67
1218 City St	0.27mi	6/2.0	2,288 (+8%)	10mo	$90,000	$39	66
1106 Lenox Ave	0.21mi	5/2.0 (-1)	1,986 (-6%)	11mo	$135,000	$68	66
730 Roberts St	0.28mi	5/2.0 (-1)	2,372 (+12%)	4mo	$105,000	$44	58
1217 York St	0.39mi	6/2.0	2,350 (+11%)	10mo	$170,000	$72	55
141 Eagle St	0.64mi	5/2.0 (-1)	2,193 (+3%)	6mo	$36,500	$17	54
1109 York St	0.36mi	5/2.0 (-1)	2,406 (+13%)	5mo	$118,000	$49	52

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: 26.6%
• Equity multiple: 2.11×
• Total profit: $58,018
• Equity at exit: $27,957

10-year hold

• IRR: 34.2%
• Equity multiple: 4.13×
• Total profit: $164,327
• Equity at exit: $16,212

Cash invested: $52,500 (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: 9.5×

Monthly cashflow live

• Estimated rent: $3,277 high
• Mortgage (P&I): −$983
• Tax from tax record: −$139 /mo · $1,672/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $1,388

Break-even live

Break-even rent $1,520

Max offer price $187,500

Occupancy floor 53%

Sensitivity live

Price	-10% $1,494	-5% $1,441	+0% $1,388	+5% $1,335	+10% $1,282
Rent	-10% $1,129	-5% $1,259	+0% $1,388	+5% $1,518	+10% $1,647
Rate	-1.0pp $1,483	-0.5pp $1,436	base $1,388	+0.5pp $1,340	+1.0pp $1,290

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,276
Total (2 units)			$3,277

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: $46,875
• Closing costs: $5,625
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-02-09
   status Pending
2. 2026-02-03
   listed $187,500 Active
3. 2025-06-09
   soldstatus $71,000
4. 2025-05-30
   soldstatus $71,000 Closed
5. 2025-03-24
   status Pending
6. 2025-03-20
   listed $74,900 Active
7. 2017-09-29
   soldstatus $31,000

ⓘ 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: $1,672 · $139/mo
• Projected year-2 tax: $2,420 · $202/mo
• Expected delta: +$748/yr (+$62/mo · 44.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 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: $39,324
• − Mortgage interest: −$10,503
• − Property taxes: −$1,672
• − Insurance: −$938
• − Repairs & maintenance: −$3,146
• − Management: −$3,146
• − Depreciation: −$5,455
• Taxable income: $14,465
• Est. tax owed @ 24.0%: −$3,472
• After-tax cash flow: $13,186/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

+504.8% since first listed

7 events — show timeline

• 2026-02-09 Pending — CNYIS
• 2026-02-03 Listed $187,500 CNYIS
• 2025-06-09 Sold (Public Records) $71,000 Public Records
• 2025-05-30 Sold (MLS) $71,000 CNYIS
• 2025-03-24 Pending — CNYIS
• 2025-03-20 Listed $74,900 CNYIS
• 2017-09-29 Sold (Public Records) $31,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,672 · -57.6% YoY. Source: county tax records.