607 Blandina St · Utica, NY 13501

$239,900

8 bd · 4.0 ba · 3,720 sqft · MultiFamily public records · 62 Days on market

Built 1900 4,800 sqft lot $64/sqft · at area comps Est $251k · at est.

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Why this score? — see what drove the A- 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 +10.0/10.0
• ARV discount +9.4/15.0
• 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: 4 units. confirmed

Listing remarks MLS

Welcome to 607 Blandina Street in Utica—a rare opportunity to own a spacious four-unit investment property offering over 3,700 square feet of living space. This well-laid-out multi-family features four separate units, each with its own entrance, providing flexibility and consistent rental potential. The property showcases classic charm with a full front porch and second-story balcony, adding to its curb appeal and tenant desirability. Mostly updated new roof in 2018 siding and windows. Off-street parking and a convenient location near shopping, restaurants, and major roadways make this an attractive option for renters. Whether you’re a seasoned investor looking to expand your portfolio or just getting started, this property offers strong income potential and long-term value. Live in one unit and rent the others, or fully lease all four for maximum cash flow.

Key facts

• Second story balcony
• Off street parking
• Full front porch

Tags

• FOUR UNIT INVESTMENT PROPERTY
• FULL FRONT PORCH
• SECOND STORY BALCONY
• OFF STREET PARKING
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $842/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.1% 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).

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k 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 $67k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $60k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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: 2.59% ✓
• Cap rate: 23.14%
• Cash-on-cash: 60.18%
• DSCR: 3.68
• GRM: 3.2

CMA / ARV

• ARV (median comp): $250,766
• List price: $239,900
• Delta: -4.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 Mohawk St	0.16mi	9/3.0 (+1)	4,119 (+11%)	22mo	$120,000	$29	48
536 Jefferson Ave	0.69mi	8/3.0	3,732 (+0%)	19mo	$119,000	$32	47
1231 Mohawk St E	0.67mi	7/4.0 (-1)	3,406 (-8%)	7mo	$280,000	$82	44

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: 72.4%
• Equity multiple: 6.14×
• Total profit: $345,246
• Equity at exit: $216,121

10-year hold

• IRR: 66.2%
• Equity multiple: 13.62×
• Total profit: $848,010
• Equity at exit: $466,073

Cash invested: $67,172 (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: 12.9×

Monthly cashflow live

• Estimated rent: $6,221 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$188 /mo · $2,252/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,306
• Net cashflow: $3,369

Break-even live

Break-even rent $1,957

Max offer price $239,900

Occupancy floor 41%

Sensitivity live

Price	-10% $3,505	-5% $3,437	+0% $3,369	+5% $3,301	+10% $3,233
Rent	-10% $2,877	-5% $3,123	+0% $3,369	+5% $3,615	+10% $3,860
Rate	-1.0pp $3,490	-0.5pp $3,430	base $3,369	+0.5pp $3,307	+1.0pp $3,243

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,220
Total (4 units)			$6,221

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $239,900 Active 62 DOM
2. 2026-06-18
   days on market $239,900 Active 61 DOM
3. 2026-06-17
   days on market $239,900 Active 60 DOM
4. 2026-06-16
   days on market $239,900 Active 59 DOM
5. 2026-06-15
   days on market $239,900 Active 58 DOM
6. 2026-06-14
   days on market $239,900 Active 56 DOM
7. 2026-06-13
   days on market $239,900 Active 55 DOM
8. 2026-06-10
   days on market $239,900 Active 53 DOM
9. 2026-06-09
   days on market $239,900 Active 52 DOM
10. 2026-06-09
    price $239,900 Active 51 DOM
11. 2026-06-08
    days on market $249,900 Active 51 DOM
12. 2026-06-07
    days on market $249,900 Active 50 DOM
13. 2026-06-03
    days on market $249,900 Active 46 DOM
14. 2026-06-02
    days on market $249,900 Active 45 DOM
15. 2026-06-01
    days on market $249,900 Active 44 DOM
16. 2026-05-31
    days on market $249,900 Active 43 DOM
17. 2026-05-30
    days on market $249,900 Active 42 DOM
18. 2026-05-03
    price $249,900 882-char remark

    Show marketing remark (882 chars)

    Welcome to 607 Blandina Street in Utica—a rare opportunity to own a spacious four-unit investment property offering over 3,700 square feet of living space. This well-laid-out multi-family features four separate units, each with its own entrance, providing flexibility and consistent rental potential. The property showcases classic charm with a full front porch and second-story balcony, adding to its curb appeal and tenant desirability. Mostly updated new roof in 2018 siding and windows. Off-street parking and a convenient location near shopping, restaurants, and major roadways make this an attractive option for renters. Whether you’re a seasoned investor looking to expand your portfolio or just getting started, this property offers strong income potential and long-term value. Live in one unit and rent the others, or fully lease all four for maximum cash flow.

19. 2026-04-18
    listed $299,900 Active 882-char remark

    Show marketing remark (882 chars)

    Welcome to 607 Blandina Street in Utica—a rare opportunity to own a spacious four-unit investment property offering over 3,700 square feet of living space. This well-laid-out multi-family features four separate units, each with its own entrance, providing flexibility and consistent rental potential. The property showcases classic charm with a full front porch and second-story balcony, adding to its curb appeal and tenant desirability. Mostly updated new roof in 2018 siding and windows. Off-street parking and a convenient location near shopping, restaurants, and major roadways make this an attractive option for renters. Whether you’re a seasoned investor looking to expand your portfolio or just getting started, this property offers strong income potential and long-term value. Live in one unit and rent the others, or fully lease all four for maximum cash flow.

20. 2022-10-27
    soldstatus $175,000 Closed Sale or Rented
21. 2022-09-06
    status Pending Sale
22. 2022-08-25
    status Under Contract- Do Not Show
23. 2022-06-05
    listed $175,000 Active
24. 2020-12-22
    historical
25. 2020-08-12
    listed $129,000
26. 1994-08-30
    soldstatus $25,000

ⓘ 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: $2,252 · $188/mo
• Projected year-2 tax: $3,153 · $263/mo
• Expected delta: +$901/yr (+$75/mo · 40.0%)

ⓘ 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) · 74% 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 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: $74,652
• − Mortgage interest: −$13,438
• − Property taxes: −$2,252
• − Insurance: −$1,200
• − Repairs & maintenance: −$5,972
• − Management: −$5,972
• − Depreciation: −$6,979
• Taxable income: $38,839
• Est. tax owed @ 24.0%: −$9,321
• After-tax cash flow: $31,105/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

+899.6% since first listed

9 events — show timeline

• 2026-05-03 Price Changed $249,900 CNYIS
• 2026-04-18 Listed $299,900 CNYIS
• 2022-10-27 Sold (MLS) $175,000 CNYIS
• 2022-09-06 Pending — CNYIS
• 2022-08-25 Pending — CNYIS
• 2022-06-05 Listed $175,000 CNYIS
• 2020-12-22 Listing Removed — CNYIS
• 2020-08-12 Listed $129,000 CNYIS
• 1994-08-30 Sold (Public Records) $25,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,252 · -0.5% YoY. Source: county tax records.