615 Saratoga St · Utica, NY 13502

$99,000

3 bd · 1.0 ba · 3,140 sqft · MultiFamily public records · 43 Days on market

Built 1910 $32/sqft · 38% below area Est $160k · 38% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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 MLS

Large two unit investment property. Over 3100 square feet, with separate utilities and separate entrances. Each unit has three bedrooms, totaling 6! Currently fully rented. Close proximity to Varick Street Business District, Restaurants & Establishments! Ensures strong rent potential. Great opportunity to take full advantage of the roaring local rental market.

Key facts

• 2 parking spots
• Built 1910
• Listed 42 days

Property features AI

Finance

• Financial info: Two-unit multi-family property with separate gas and electric meters for each unit; Unit rents listed: one unit currently $900, the other $950; Operating expense details: see remarks; Owner pays: see remarks

Exterior

• Parking: Gravel and paved parking with two or more spaces
• Utilities: Electricity available and connected (circuit breakers); Water available and connected (public); Sewer available and connected; Cable available
• Home design: 2-story building; Existing construction
• Construction: Vinyl siding; PEX plumbing; Stone foundation; Asphalt and metal roofing
• Exterior features: Partial fencing; Fence; Flag lot; Near public transit

Interior

• Kitchen: Each unit includes an oven/range and refrigerator; Eat-in kitchen in each unit; Formal dining room in each unit
• Bedrooms: Two 3-bedroom units (one per floor)
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Varied flooring including hardwood and laminate
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $783 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.8% 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).
• This rent runs 39% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $29k; list at $99k implies a 241% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.88% ✓
• Cap rate: 15.79%
• Cash-on-cash: 33.90%
• DSCR: 2.51
• GRM: 4.4

CMA / ARV

• ARV (median comp): $160,185
• List price: $99,000
• Delta: -38.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
711 Bristol St	0.35mi	4/4.0 (+1)	2,940 (-6%)	6mo	$195,000	$66	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: 29.3%
• Equity multiple: 2.22×
• Total profit: $33,867
• Equity at exit: $14,761

10-year hold

• IRR: 36.6%
• Equity multiple: 4.39×
• Total profit: $93,835
• Equity at exit: $8,560

Cash invested: $27,720 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,858 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$125 /mo · $1,494/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $783

Break-even live

Break-even rent $867

Max offer price $99,000

Occupancy floor 53%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $99,000 Active 43 DOM
2. 2026-06-18
   days on market $99,000 Active 42 DOM
3. 2026-06-17
   days on market $99,000 Active 41 DOM
4. 2026-06-16
   days on market $99,000 Active 40 DOM
5. 2026-06-15
   days on market $99,000 Active 39 DOM
6. 2026-06-14
   days on market $99,000 Active 37 DOM
7. 2026-06-13
   days on market $99,000 Active 36 DOM
8. 2026-06-10
   days on market $99,000 Active 34 DOM
9. 2026-06-09
   days on market $99,000 Active 33 DOM
10. 2026-06-08
    days on market $99,000 Active 32 DOM
11. 2026-06-07
    days on market $99,000 Active 31 DOM
12. 2026-06-03
    days on market $99,000 Active 27 DOM
13. 2026-06-02
    days on market $99,000 Active 26 DOM
14. 2026-06-01
    days on market $99,000 Active 25 DOM
15. 2026-05-31
    days on market $99,000 Active 24 DOM
16. 2026-05-30
    days on market $99,000 Active 23 DOM
17. 2026-05-07
    listed $99,000 Active
18. 2020-06-25
    soldstatus $29,000 368-char remark

    Show marketing remark (368 chars)

    Large two unit investment property. Over 3100 square feet, with separate utilities and separate entrances. Each unit has three bedrooms, totaling 6! Currently fully rented. Close proximity to Varick Street Business District, Restaurants & Establishments! Ensures strong rent potential. Great opportunity to take full advantage of the roaring local rental market.

19. 2020-06-25
    soldstatus $29,000

    Show marketing remark (368 chars)

    Large two unit investment property. Over 3100 square feet, with separate utilities and separate entrances. Each unit has three bedrooms, totaling 6! Currently fully rented. Close proximity to Varick Street Business District, Restaurants & Establishments! Ensures strong rent potential. Great opportunity to take full advantage of the roaring local rental market.

20. 2020-02-05
    listed $39,900 368-char remark

    Show marketing remark (368 chars)

    Large two unit investment property. Over 3100 square feet, with separate utilities and separate entrances. Each unit has three bedrooms, totaling 6! Currently fully rented. Close proximity to Varick Street Business District, Restaurants & Establishments! Ensures strong rent potential. Great opportunity to take full advantage of the roaring local rental market.

21. 2017-12-11
    soldstatus $24,000

ⓘ 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: $1,494 · $125/mo
• Projected year-2 tax: $1,584 · $132/mo
• Expected delta: +$90/yr (+$7/mo · 6.0%)

ⓘ 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 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: $22,300
• − Mortgage interest: −$5,546
• − Property taxes: −$1,494
• − Insurance: −$495
• − Repairs & maintenance: −$1,784
• − Management: −$1,784
• − Depreciation: −$2,880
• Taxable income: $8,317
• Est. tax owed @ 24.0%: −$1,996
• After-tax cash flow: $7,402/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

+312.5% since first listed

5 events — show timeline

• 2026-05-07 Listed $99,000 CNYIS
• 2020-06-25 Sold (Public Records) $29,000 Public Records
• 2020-06-25 Sold (MLS) $29,000 CNYIS
• 2020-02-05 Listed $39,900 CNYIS
• 2017-12-11 Sold (Public Records) $24,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,494 · +5.6% YoY. Source: county tax records.