1312 Butternut St · Utica, NY 13502

$199,900

6 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 4 Days on market

Built 1920 4,000 sqft lot Est $137k · 46% 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: 1 unit. estimate disagrees with records

Listing remarks

SHOUT OUT TO ALL INVESTORS!! Prime investment opportunity! Beautifully maintained multi situated on a corner lot offers an excellent opportunity. Each unit features 3 spacious bedrooms with updated interiors, hardwood floors and separate utilities including water, making management efficient and cost effective. A two-car detached garage with convenient access. Property currently houses long-term tenants providing immediate income, with strong potential for increased capital. A solid addition to any portfolio.

Key facts

• 4,000 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Financial info: Property configured as 2-unit multi-family; Each unit currently rents for $800; Tenants pay all utilities; Separate gas and electric meters for each unit; Operating expense details: see remarks

Exterior

• Parking: Attached garage with 2 spaces; Additional parking with two or more spaces
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Existing construction
• Construction: Asphalt roof; Construction details: see remarks
• Exterior features: Rectangular residential lot (40 x 100); Near public transit; City street frontage

Interior

• Kitchen: Eat-in kitchen in both units; One unit lists oven/range and refrigerator
• Bedrooms: Two units each with 3 bedrooms
• Flooring: Hardwood; Varies
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Enclosed porch; Porch
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $200k).
• Cap rate 26.1% 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; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• At $5,814/mo this rent would consume 121% 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 $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $55k; list at $200k implies a 263% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1920 — 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: 2.91% ✓
• Cap rate: 26.10%
• Cash-on-cash: 70.74%
• DSCR: 4.15
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $137,088
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 Wager St	0.62mi	6/2.0	2,122 (+5%)	1mo	$182,000	$86	61
1106 Lenox Ave	0.54mi	5/2.0 (-1)	1,986 (-2%)	11mo	$135,000	$68	58
1202 Stark St	0.55mi	6/2.0	2,200 (+9%)	3mo	$72,500	$33	57
818 Oswego St	0.41mi	6/2.0	1,840 (-9%)	13mo	$70,000	$38	55
1022 Lamb St	0.20mi	6/2.0	2,304 (+14%)	14mo	$170,000	$74	55
1206 Maple St	0.30mi	5/2.0 (-1)	1,758 (-13%)	6mo	$167,000	$95	55
1669 Hager St	0.30mi	6/2.0	2,300 (+14%)	14mo	$150	—	51
1218 City St	0.42mi	6/2.0	2,288 (+14%)	10mo	$90,000	$39	50
2012 Noyes St	0.62mi	5/3.0 (-1)	1,966 (-2%)	15mo	$110,000	$56	46
935 Lenox Ave	0.66mi	6/2.0	2,180 (+8%)	12mo	$130,000	$60	46
1911 Noyes St	0.55mi	6/2.0	2,288 (+14%)	12mo	$199,800	$87	42
906 Arcadia Ave	0.68mi	6/2.0	2,248 (+12%)	12mo	$232,000	$103	39

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: 70.3%
• Equity multiple: 4.18×
• Total profit: $177,796
• Equity at exit: $29,806

10-year hold

• IRR: 74.3%
• Equity multiple: 8.60×
• Total profit: $425,565
• Equity at exit: $17,284

Cash invested: $55,972 (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: 11.5×

Monthly cashflow live

• Estimated rent: $5,814 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$162 /mo · $1,942/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,221
• Net cashflow: $3,300

Break-even live

Break-even rent $1,637

Max offer price $199,900

Occupancy floor 38%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1.5	$5,812
Total (4 units)			$5,814

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-14
   status Pending
2. 2026-04-09
   listed $199,900 Active
3. 2015-04-01
   soldstatus $55,000
4. 2010-09-27
   soldstatus $45,000
5. 2009-01-13
   soldstatus $45,500

ⓘ 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: $1,942 · $162/mo
• Projected year-2 tax: $2,660 · $222/mo
• Expected delta: +$718/yr (+$60/mo · 37.0%)

ⓘ 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: $69,768
• − Mortgage interest: −$11,198
• − Property taxes: −$1,942
• − Insurance: −$1,000
• − Repairs & maintenance: −$5,581
• − Management: −$5,581
• − Depreciation: −$5,815
• Taxable income: $38,651
• Est. tax owed @ 24.0%: −$9,276
• After-tax cash flow: $30,319/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

+339.3% since first listed

5 events — show timeline

• 2026-04-14 Pending — CNYIS
• 2026-04-09 Listed $199,900 CNYIS
• 2015-04-01 Sold (Public Records) $55,000 Public Records
• 2010-09-27 Sold (Public Records) $45,000 Public Records
• 2009-01-13 Sold (Public Records) $45,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,942 · +5.6% YoY. Source: county tax records.