3 Emerson Ave · Utica, NY 13501

$249,900

4 bd · 2.0 ba · 2,405 sqft · MultiFamily public records · 3 Days on market

Built 1920 4,000 sqft lot Est $171k · 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 +24.1/30.0
• Appreciation +10.0/10.0
• DSCR +7.8/10.0
• 1% rule +5.7/10.0
• 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

Multi-family units

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

Listing remarks MLS

This charming 2-family home is located within walking distance of shopping, restaurants, and entertainment like bowling and baseball! Downstairs is updated and elegant with with all new flooring including bamboo in the living room, finished hardwoods in bedroom #1, and new laminate in bedroom #2! Granite counters, new appliances and new tile flooring were added to the kitchen roughly 5 years ago! The 2 stall garage, fantastic carport, and driveway are roughly 3 years old! Both hot water tanks are less than 3 years old! The brand new roof was put on less than a year ago! Each unit offers 2 bedrooms, a living room, eat in kitchen, and full bathroom. The basement offers a brand new and barely used additional full bathroom, a bonus space, and a walkout to the carport/garage in back. The attic offers an additional bonus space as well! And each unit has it's own washer/dryer hookups! Don't miss this opportunity!

Key facts

• Newer flooring
• Finished attic
• Newer roof

Tags

• TWO-FAMILY HOME
• NEWER FLOORING
• NEWER ROOF
• HOT WATER TANKS
• GRANITE COUNTERTOPS
• FINISHED ATTIC

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive. Per door: $248/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).

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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $2,666/mo this rent would consume 61% 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 $27k of equity ($2k loan paydown + $25k 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 $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 26y 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 $200k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $249,900

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 1920 — 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: 1.07% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $170,755
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1716 - 1718 Oneida St	0.49mi	5/3.0 (+1)	2,542 (+6%)	8mo	$180,000	$71	52
114 Lowell Ave #112	0.46mi	5/3.0 (+1)	2,600 (+8%)	15mo	$182,500	$70	43
26 Faxton St	0.69mi	5/4.0 (+1)	2,256 (-6%)	21mo	$164,300	$73	28

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: 30.5%
• Equity multiple: 3.40×
• Total profit: $167,675
• Equity at exit: $225,130

10-year hold

• IRR: 26.4%
• Equity multiple: 7.70×
• Total profit: $468,858
• Equity at exit: $485,501

Cash invested: $69,972 (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 13501

• Home prices YoY: 5.6%
• Active inventory: 143
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $2,666 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$195 /mo · $2,344/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $496

Break-even live

Break-even rent $2,038

Max offer price $249,900

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,666
Total (2 units)			$2,666

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1804 Storrs Ave Utica, NY	3.0	1.5	1633	$3,000	$1.84	43d	1	0.40mi
1642 Taylor Ave #1644 Utica, NY	3.0	1.0	2600	$1,650	$0.63	43d	1	1.31mi
225 Thieme Pl Utica, NY	3.0	2.0	1872	$2,150	$1.15	43d	1	1.34mi

Listing history 12 events

1. 2026-04-23
   status Pending
2. 2026-04-20
   listed $249,900 Active
3. 2023-08-08
   soldstatus $200,000
4. 2023-08-07
   soldstatus $200,000 Closed Sale or Rented 926-char remark

   Show marketing remark (926 chars)

   This charming 2-family home is located within walking distance of shopping, restaurants, and entertainment like bowling and baseball! Downstairs is updated and elegant with with all new flooring including bamboo in the living room, finished hardwoods in bedroom #1, and new laminate in bedroom #2! Granite counters, new appliances and new tile flooring were added to the kitchen roughly 5 years ago! The 2 stall garage, fantastic carport, and driveway are roughly 3 years old! Both hot water tanks are less than 3 years old! The brand new roof was put on less than a year ago! Each unit offers 2 bedrooms, a living room, eat in kitchen, and full bathroom. The basement offers a brand new and barely used additional full bathroom, a bonus space, and a walkout to the carport/garage in back. The attic offers an additional bonus space as well! And each unit has it's own washer/dryer hookups! Don't miss this opportunity!

5. 2023-06-07
   status Pending Sale 926-char remark

   Show marketing remark (926 chars)

   This charming 2-family home is located within walking distance of shopping, restaurants, and entertainment like bowling and baseball! Downstairs is updated and elegant with with all new flooring including bamboo in the living room, finished hardwoods in bedroom #1, and new laminate in bedroom #2! Granite counters, new appliances and new tile flooring were added to the kitchen roughly 5 years ago! The 2 stall garage, fantastic carport, and driveway are roughly 3 years old! Both hot water tanks are less than 3 years old! The brand new roof was put on less than a year ago! Each unit offers 2 bedrooms, a living room, eat in kitchen, and full bathroom. The basement offers a brand new and barely used additional full bathroom, a bonus space, and a walkout to the carport/garage in back. The attic offers an additional bonus space as well! And each unit has it's own washer/dryer hookups! Don't miss this opportunity!

6. 2023-06-05
   listed $189,900 Active 926-char remark

   Show marketing remark (926 chars)

   This charming 2-family home is located within walking distance of shopping, restaurants, and entertainment like bowling and baseball! Downstairs is updated and elegant with with all new flooring including bamboo in the living room, finished hardwoods in bedroom #1, and new laminate in bedroom #2! Granite counters, new appliances and new tile flooring were added to the kitchen roughly 5 years ago! The 2 stall garage, fantastic carport, and driveway are roughly 3 years old! Both hot water tanks are less than 3 years old! The brand new roof was put on less than a year ago! Each unit offers 2 bedrooms, a living room, eat in kitchen, and full bathroom. The basement offers a brand new and barely used additional full bathroom, a bonus space, and a walkout to the carport/garage in back. The attic offers an additional bonus space as well! And each unit has it's own washer/dryer hookups! Don't miss this opportunity!

7. 2017-06-19
   soldstatus $15,000
8. 2004-03-09
   soldstatus $48,600
9. 2001-08-20
   soldstatus $23,000 84-char remark

   Show marketing remark (84 chars)

   HUD HOME SOLD AS IS. BID THROUGH INTERNET AT WWW. FIRST[RESTON. COM CASEZ3371-213004

10. 2001-07-18
    soldstatus $23,000
11. 2000-05-25
    listed $21,500 84-char remark

    Show marketing remark (84 chars)

    HUD HOME SOLD AS IS. BID THROUGH INTERNET AT WWW. FIRST[RESTON. COM CASEZ3371-213004

12. 1999-12-10
    soldstatus $80,771

ⓘ 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: $2,344 · $195/mo
• Projected year-2 tax: $3,283 · $274/mo
• Expected delta: +$940/yr (+$78/mo · 40.1%)

ⓘ 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 · 17 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: $31,992
• − Mortgage interest: −$13,998
• − Property taxes: −$2,344
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,559
• − Management: −$2,559
• − Depreciation: −$7,270
• Taxable income: $2,012
• Est. tax owed @ 24.0%: −$483
• After-tax cash flow: $5,472/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

+209.4% since first listed

12 events — show timeline

• 2026-04-23 Pending — CNYIS
• 2026-04-20 Listed $249,900 CNYIS
• 2023-08-08 Sold (Public Records) $200,000 Public Records
• 2023-08-07 Sold (MLS) $200,000 CNYIS
• 2023-06-07 Pending — CNYIS
• 2023-06-05 Listed $189,900 CNYIS
• 2017-06-19 Sold (Public Records) $15,000 Public Records
• 2004-03-09 Sold (Public Records) $48,600 Public Records
• 2001-08-20 Sold (MLS) $23,000 CNYIS
• 2001-07-18 Sold (Public Records) $23,000 Public Records
• 2000-05-25 Listed $21,500 CNYIS
• 1999-12-10 Sold (Public Records) $80,771 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,344 · +0.1% YoY. Source: county tax records.