1110 Noyes St · Utica, NY 13502

$175,000

6 bd · 2.0 ba · 2,468 sqft · MultiFamily public records · 19 Days on market

Built 1900 3,200 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
• 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

All 4 units recently remodeled , newer roof, electrical updated, Vinyl siding and floors Fully rented for many years by local corporation. Solid rental history. 48 hour mandatory notice for all showings. Call listing agent .

Key facts

• Recently remodeled
• Electrical updated
• Newer roof

Tags

• NEWER ROOF
• ELECTRICAL UPDATED
• VINYL SIDING
• RECENTLY REMODELED
• SOLID RENTAL HISTORY

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $3k ($30k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.7% 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 $4,660/mo this rent would consume 97% 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 $5k 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 $49k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $135k; 30% 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.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 2.66% ✓
• Cap rate: 23.67%
• Cash-on-cash: 62.06%
• DSCR: 3.76
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $108,592
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1211 York St	0.19mi	6/2.0	2,444 (-1%)	6mo	$211,000	$86	84
806 Waverly Pl	0.34mi	6/2.0	2,496 (+1%)	4mo	$75,000	$30	79
1109 York St	0.23mi	5/2.0 (-1)	2,406 (-2%)	5mo	$118,000	$49	76
1202 Stark St	0.22mi	6/2.0	2,200 (-11%)	3mo	$72,500	$33	70
934 Lenox Ave #936	0.31mi	6/2.0	2,706 (+10%)	1mo	$90,000	$33	69
712 Roberts St	0.58mi	6/2.0	2,524 (+2%)	5mo	$92,000	$36	65
1206 Mathews Ave	0.56mi	6/2.0	2,500 (+1%)	8mo	$185,000	$74	64
813 Wager St	0.29mi	6/2.0	2,122 (-14%)	1mo	$182,000	$86	62
730 Roberts St	0.55mi	5/2.0 (-1)	2,372 (-4%)	4mo	$105,000	$44	59
1131 Whitesboro St	0.54mi	6/2.0	2,748 (+11%)	1mo	$110,000	$40	55
1511 Whitesboro St	0.56mi	6/3.0	2,666 (+8%)	6mo	$105,000	$39	51
714 Roberts St	0.57mi	7/2.0 (+1)	2,230 (-10%)	4mo	$115,000	$52	49

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: 61.0%
• Equity multiple: 3.72×
• Total profit: $133,082
• Equity at exit: $26,093

10-year hold

• IRR: 65.6%
• Equity multiple: 7.61×
• Total profit: $323,854
• Equity at exit: $15,131

Cash invested: $49,000 (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 13502

• Home prices YoY: -12.1%
• Active inventory: 150
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $4,660 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$157 /mo · $1,878/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$979
• Net cashflow: $2,534

Break-even live

Break-even rent $1,452

Max offer price $175,000

Occupancy floor 41%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$4,660
Total (4 units)			$4,660

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-01-07
   soldstatus $135,000
2. 2025-08-25
   status Pending
3. 2025-08-05
   listed $175,000 Active
4. 2005-05-27
   soldstatus $32,000

ⓘ 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: $1,878 · $157/mo
• Projected year-2 tax: $2,418 · $201/mo
• Expected delta: +$540/yr (+$45/mo · 28.7%)

ⓘ 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 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,920
• − Mortgage interest: −$9,803
• − Property taxes: −$1,878
• − Insurance: −$875
• − Repairs & maintenance: −$4,474
• − Management: −$4,474
• − Depreciation: −$5,091
• Taxable income: $29,326
• Est. tax owed @ 24.0%: −$7,038
• After-tax cash flow: $23,373/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

+321.9% since first listed

4 events — show timeline

• 2026-01-07 Sold (Public Records) $135,000 Public Records
• 2025-08-25 Pending — CNYIS
• 2025-08-05 Listed $175,000 CNYIS
• 2005-05-27 Sold (Public Records) $32,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,878 · +5.6% YoY. Source: county tax records.