1218 Court St · Utica, NY 13502

$85,000

4 bd · 2.0 ba · 2,184 sqft · MultiFamily public records · 99 Days on market

Built 1835 6,396 sqft lot Est $122k · 31% under

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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
• 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: 2 units. confirmed

Listing remarks

Welcome to the heart of West Utica investors!! This 2 Family Property has a lot of potential! One unit has 4 bedrooms and 1 bath and the other unit has 2 bedrooms and 1 bath. Can be used for investment or for living in one and renting out the other. There are 2 driveways for each apartment Property is being sold "AS IS". Come check it out today!!

Key facts

• 6,396 sq ft lot
• Built 1835
• Listed 99 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $85k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $868/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 30.8% 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).
• At $2,978/mo this rent would consume 62% 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 $588 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 $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask is 31% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $60k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1835 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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 1835 — 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: 3.50% ✓
• Cap rate: 30.81%
• Cash-on-cash: 87.54%
• DSCR: 4.90
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $122,304
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1106 Orchard St	0.16mi	4/2.0	2,112 (-3%)	8mo	$100,000	$47	80
1200 Court St	0.06mi	3/2.0 (-1)	2,012 (-8%)	4mo	$93,000	$46	76
1433 Erie St	0.17mi	4/2.0	2,344 (+7%)	7mo	$75,000	$32	74
1021 Court St	0.25mi	4/2.0	1,908 (-13%)	4mo	$155,000	$81	64
1109 York St	0.28mi	5/2.0 (+1)	2,406 (+10%)	5mo	$118,000	$49	61
1226 City St	0.45mi	4/2.0	2,292 (+5%)	17mo	$150,000	$65	57
907 Sunset Ave	0.48mi	4/3.0	2,263 (+4%)	14mo	$138,000	$61	55
1106 Lenox Ave	0.35mi	5/2.0 (+1)	1,986 (-9%)	11mo	$135,000	$68	54
730 Roberts St	0.52mi	5/2.0 (+1)	2,372 (+9%)	4mo	$105,000	$44	53
706 Roberts St	0.58mi	5/2.0 (+1)	2,060 (-6%)	7mo	$153,750	$75	52
719 Tracy St	0.69mi	4/2.0	1,914 (-12%)	16mo	$70,000	$37	34
2012 Noyes St	0.68mi	5/3.0 (+1)	1,966 (-10%)	15mo	$110,000	$56	30

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: 88.1%
• Equity multiple: 5.07×
• Total profit: $96,873
• Equity at exit: $12,674

10-year hold

• IRR: 91.2%
• Equity multiple: 10.54×
• Total profit: $227,006
• Equity at exit: $7,349

Cash invested: $23,800 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,978 high
• Mortgage (P&I): −$446
• Tax from tax record: −$135 /mo · $1,622/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $1,736

Break-even live

Break-even rent $780

Max offer price $85,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,784	-5% $1,760	+0% $1,736	+5% $1,712	+10% $1,688
Rent	-10% $1,501	-5% $1,619	+0% $1,736	+5% $1,854	+10% $1,972
Rate	-1.0pp $1,779	-0.5pp $1,758	base $1,736	+0.5pp $1,714	+1.0pp $1,692

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,978
Total (2 units)			$2,978

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2024-11-21
   status Pending
2. 2024-08-14
   status Active
3. 2024-08-14
   price $85,000
4. 2024-07-30
   historical
5. 2024-07-30
   listed $65,000
6. 2021-11-14
   historical
7. 2021-09-20
   price $75,000
8. 2021-08-30
   listed $79,000 Active
9. 2021-03-01
   soldstatus $60,000
10. 2012-03-26
    soldstatus $40,000
11. 2010-08-17
    historical
12. 2007-04-30
    listed $34,900
13. 2005-04-07
    soldstatus $33,000

ⓘ 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: $1,622 · $135/mo
• Projected year-2 tax: $1,622 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 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: $35,736
• − Mortgage interest: −$4,761
• − Property taxes: −$1,622
• − Insurance: −$425
• − Repairs & maintenance: −$2,859
• − Management: −$2,859
• − Depreciation: −$2,473
• Taxable income: $20,737
• Est. tax owed @ 24.0%: −$4,977
• After-tax cash flow: $15,858/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

+157.6% since first listed

13 events — show timeline

• 2024-11-21 Pending — CNYIS
• 2024-08-14 Relisted — CNYIS
• 2024-08-14 Price Changed $85,000 CNYIS
• 2024-07-30 Listed $65,000 CNYIS
• 2024-07-30 Listing Removed — CNYIS
• 2021-11-14 Listing Removed — CNYIS
• 2021-09-20 Price Changed $75,000 CNYIS
• 2021-08-30 Listed $79,000 CNYIS
• 2021-03-01 Sold (Public Records) $60,000 Public Records
• 2012-03-26 Sold (Public Records) $40,000 Public Records
• 2010-08-17 Listing Removed — CNYIS
• 2007-04-30 Listed $34,900 CNYIS
• 2005-04-07 Sold (Public Records) $33,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,622 · -60.6% YoY. Source: county tax records.