748 Jay St · Utica, NY 13501

$169,900

4 bd · 2.0 ba · 1,656 sqft · MultiFamily public records · 143 Days on market

Built 1900 2,100 sqft lot $103/sqft · 14% below area Est $198k · 14% under

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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
• ARV discount +13.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +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

Multi-family units

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

Listing remarks MLS

This duplex features two 2-bedroom apartments on each floor with a laundry hook-ups available in the apartments. Separate utilities. Fantastic opportunity for investors or buyers looking to live in one unit and rent out the other. New basement windows installed in 2025. New roof- Summer 2025. Property is fully tenant occupied, please allow 24 hours to schedule showings.

Key facts

• Separate utilities
• New basement windows
• Laundry hook-ups

Tags

• LAUNDRY HOOK-UPS
• SEPARATE UTILITIES
• NEW BASEMENT WINDOWS
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $809/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.7% 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: 143 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• At $3,336/mo this rent would consume 76% of the median local household income ($53k/yr) (locally 2251% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k 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 $48k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 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 $170k implies a 139% 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 $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.96% ✓
• Cap rate: 17.72%
• Cash-on-cash: 40.81%
• DSCR: 2.82
• GRM: 4.2

CMA / ARV

• ARV (median comp): $197,567
• List price: $169,900
• Delta: -14.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
936 Lansing St	0.44mi	4/2.0	1,430 (-14%)	3mo	$140,000	$98	54
1149 Mcquade Ave	0.68mi	4/2.0	1,420 (-14%)	6mo	$110,000	$77	40

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: 55.9%
• Equity multiple: 5.11×
• Total profit: $195,517
• Equity at exit: $153,059

10-year hold

• IRR: 49.4%
• Equity multiple: 11.40×
• Total profit: $494,651
• Equity at exit: $330,078

Cash invested: $47,572 (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: 8.5×

Monthly cashflow live

• Estimated rent: $3,336 high
• Mortgage (P&I): −$891
• Tax from tax record: −$56 /mo · $672/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $1,618

Break-even live

Break-even rent $1,288

Max offer price $169,900

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,336
Total (2 units)			$3,336

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Eagle St Utica, NY	3.0	1.0	1526	$1,300	$0.85	43d	1	0.77mi
1124 Dudley Ave Unit 1 Utica, NY	3.0	1.0	1300	$1,400	$1.08	43d	1	0.80mi

Listing history 22 events

1. 2026-06-19
   days on market $169,900 Active 143 DOM
2. 2026-06-18
   days on market $169,900 Active 142 DOM
3. 2026-06-17
   days on market $169,900 Active 141 DOM
4. 2026-06-16
   days on market $169,900 Active 140 DOM
5. 2026-06-15
   days on market $169,900 Active 139 DOM
6. 2026-06-14
   days on market $169,900 Active 137 DOM
7. 2026-06-13
   days on market $169,900 Active 136 DOM
8. 2026-06-10
   days on market $169,900 Active 134 DOM
9. 2026-06-09
   days on market $169,900 Active 133 DOM
10. 2026-06-08
    days on market $169,900 Active 132 DOM
11. 2026-06-07
    days on market $169,900 Active 131 DOM
12. 2026-06-03
    days on market $169,900 Active 127 DOM
13. 2026-06-02
    days on market $169,900 Active 126 DOM
14. 2026-06-01
    days on market $169,900 Active 125 DOM
15. 2026-05-31
    days on market $169,900 Active 124 DOM
16. 2026-05-30
    days on market $169,900 Active 123 DOM
17. 2026-01-27
    listed $169,900 Active 373-char remark

    Show marketing remark (373 chars)

    This duplex features two 2-bedroom apartments on each floor with a laundry hook-ups available in the apartments. Separate utilities. Fantastic opportunity for investors or buyers looking to live in one unit and rent out the other. New basement windows installed in 2025. New roof- Summer 2025. Property is fully tenant occupied, please allow 24 hours to schedule showings.

18. 2025-06-10
    status Pending
19. 2025-05-30
    status Active
20. 2025-04-14
    status Pending
21. 2025-01-06
    listed $139,900 Active
22. 2023-07-05
    soldstatus $71,000

ⓘ 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: $672 · $56/mo
• Projected year-2 tax: $1,772 · $148/mo
• Expected delta: +$1,100/yr (+$92/mo · 163.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 18 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: $40,032
• − Mortgage interest: −$9,517
• − Property taxes: −$672
• − Insurance: −$850
• − Repairs & maintenance: −$3,203
• − Management: −$3,203
• − Depreciation: −$4,943
• Taxable income: $17,646
• Est. tax owed @ 24.0%: −$4,235
• After-tax cash flow: $15,177/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

+139.3% since first listed

6 events — show timeline

• 2026-01-27 Listed $169,900 CNYIS
• 2025-06-10 Pending — CNYIS
• 2025-05-30 Relisted — CNYIS
• 2025-04-14 Pending — CNYIS
• 2025-01-06 Listed $139,900 CNYIS
• 2023-07-05 Sold (Public Records) $71,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $672 · -33.5% YoY. Source: county tax records.