1023 Wager St · Utica, NY 13502

$184,900

4 bd · 2.0 ba · 1,687 sqft · MultiFamily public records · 21 Days on market

Built 1900 4,000 sqft lot Est $128k · 44% over

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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 +30.0/30.0
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This remodeled 2-unit property offers space, flexibility, and great potential for both owner-occupants and investors! Each unit features 3 bedrooms and 1 full bathroom with updated interiors that feel fresh and inviting. The upstairs apartment offers a spacious layout with a large bonus room off the kitchen that currently works perfectly as a storage room or office, but could potentially be used as a laundry room or even a 4th bedroom depending on your needs. Upstairs is currently occupied. The downstairs unit is vacant and ready for its next occupant! This apartment features two common living spaces that work great as a living room and dining room setup, along with 3 bedrooms, a full bathr

Key facts

• Large bonus room
• Laundry area
• Updated interiors

Tags

• REMODELED PROPERTY
• UPDATED INTERIORS
• LARGE BONUS ROOM
• NICE FOYER MUDROOM AREA
• LAUNDRY AREA

Property features AI

Finance

• Other: Two total units (multi-family); Two separate gas meters; Two separate electric meters
• Financial info: Operating expenses include insurance, snow removal, and water/sewer; Owner pays grounds care, snow removal, and water; Rent includes gardener, snow removal, and water

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Electricity connected; Sewer connected; Public water connected; Cable available; High-speed internet available
• Home design: Two-story property; Existing structure
• Construction: Vinyl siding; Asphalt shingle roof; Stone foundation; Built as existing (year built details: existing)
• Exterior features: Near public transit; Rectangular lot

Interior

• Flooring: Laminate flooring; Varied flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Pull-down attic stairs; Programmable thermostat
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $681/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.1% 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: 150 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• At $3,155/mo this rent would consume 65% 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

• It's been on market 21 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $65k; list at $185k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,126 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.71% ✓
• Cap rate: 15.13%
• Cash-on-cash: 31.56%
• DSCR: 2.40
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $128,212
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1007 Green St	0.07mi	3/2.0 (-1)	1,560 (-8%)	6mo	$37,500	$24	74
1206 Maple St	0.23mi	5/2.0 (+1)	1,758 (+4%)	6mo	$167,000	$95	72
1011 Knox St	0.06mi	5/2.0 (+1)	1,790 (+6%)	16mo	$75,000	$42	69
1021 Court St	0.25mi	4/2.0	1,908 (+13%)	4mo	$155,000	$81	63
705 Court St	0.43mi	4/2.0	1,532 (-9%)	3mo	$192,000	$125	62
1204 Hart St	0.45mi	5/2.0 (+1)	1,648 (-2%)	16mo	$130,000	$79	57
29 Winner Ave	0.65mi	4/2.0	1,674 (-1%)	17mo	$59,000	$35	54
809 Hamilton St	0.45mi	5/2.0 (+1)	1,702 (+1%)	24mo	$130,000	$76	53
1221 Butternut St	0.53mi	4/2.0	1,806 (+7%)	14mo	$185,000	$102	52
719 Tracy St	0.32mi	4/2.0	1,914 (+14%)	16mo	$70,000	$37	49
734 Roberts St	0.38mi	5/2.0 (+1)	1,816 (+8%)	19mo	$124,900	$69	48

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: 26.4%
• Equity multiple: 2.10×
• Total profit: $56,727
• Equity at exit: $27,569

10-year hold

• IRR: 34.1%
• Equity multiple: 4.11×
• Total profit: $160,904
• Equity at exit: $15,987

Cash invested: $51,772 (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: 9.8×

Monthly cashflow live

• Estimated rent: $3,155 high
• Mortgage (P&I): −$970
• Tax from tax record: −$84 /mo · $1,008/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $1,362

Break-even live

Break-even rent $1,431

Max offer price $184,900

Occupancy floor 52%

Sensitivity live

Price	-10% $1,466	-5% $1,414	+0% $1,362	+5% $1,309	+10% $1,257
Rent	-10% $1,113	-5% $1,237	+0% $1,362	+5% $1,486	+10% $1,611
Rate	-1.0pp $1,455	-0.5pp $1,409	base $1,362	+0.5pp $1,314	+1.0pp $1,265

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,154
Total (2 units)			$3,155

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1224 Whitesboro St Unit 1 Utica, NY	3.0	1.0	1100	$1,125	$1.02	45d	1	0.42mi
1503 Fox Pl Utica, NY	3.0	1.0	1119	$2,000	$1.79	45d	1	1.04mi
1804 Storrs Ave Utica, NY	3.0	1.5	1633	$3,000	$1.84	45d	1	1.09mi
1124 Dudley Ave Unit 1 Utica, NY	3.0	1.0	1300	$1,400	$1.08	45d	1	1.22mi

Listing history 21 events

1. 2026-06-19
   days on market $184,900 Active 21 DOM
2. 2026-06-18
   days on market $184,900 Active 20 DOM
3. 2026-06-17
   days on market $184,900 Active 19 DOM
4. 2026-06-16
   days on market $184,900 Active 18 DOM
5. 2026-06-15
   days on market $184,900 Active 17 DOM
6. 2026-06-14
   days on market $184,900 Active 15 DOM
7. 2026-06-13
   days on market $184,900 Active 14 DOM
8. 2026-06-10
   days on market $184,900 Active 12 DOM
9. 2026-06-09
   days on market $184,900 Active 11 DOM
10. 2026-06-08
    days on market $184,900 Active 10 DOM
11. 2026-06-07
    days on market $184,900 Active 9 DOM
12. 2026-06-03
    days on market $184,900 Active 5 DOM
13. 2026-06-02
    days on market $184,900 Active 4 DOM
14. 2026-06-01
    days on market $184,900 Active 3 DOM
15. 2026-05-31
    days on market $184,900 Active 2 DOM
16. 2026-05-29
    listed $184,900 Active
17. 2023-03-03
    soldstatus $65,000 Closed Sale or Rented
18. 2022-12-08
    status Pending Sale
19. 2022-12-07
    historical Continue to Show- Under Contract
20. 2022-10-12
    listed $79,900 Active
21. 2006-01-06
    soldstatus $35,000

ⓘ 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: $1,008 · $84/mo
• Projected year-2 tax: $2,066 · $172/mo
• Expected delta: +$1,058/yr (+$88/mo · 105.0%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,860
• − Mortgage interest: −$10,357
• − Property taxes: −$1,008
• − Insurance: −$924
• − Repairs & maintenance: −$3,029
• − Management: −$3,029
• − Depreciation: −$5,379
• Taxable income: $14,134
• Est. tax owed @ 24.0%: −$3,392
• After-tax cash flow: $12,949/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

+428.3% since first listed

6 events — show timeline

• 2026-05-29 Listed $184,900 CNYIS
• 2023-03-03 Sold (MLS) $65,000 CNYIS
• 2022-12-08 Pending — CNYIS
• 2022-12-07 Contingent — CNYIS
• 2022-10-12 Listed $79,900 CNYIS
• 2006-01-06 Sold (Public Records) $35,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $1,008 · -33.5% YoY. Source: county tax records.