2702 Southside Rd · Utica, NY 13340

$95,000

6 bd · 2.0 ba · 3,670 sqft · MultiFamily public records · 428 Days on market

Built 1890 0.62 ac lot ↓ 5% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.3/10.0
• 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

Introducing a versatile two-family home located in the heart of Frankfort, perfect for investors or owner-occupants seeking additional rental income in the future. This spacious property features two separate units. The first unit includes four bedrooms and one full bathroom, offering ample living space for larger households. The second unit features three bedrooms and one and a half bathrooms, providing a comfortable and functional layout for tenants or extended family. The home sits on a sizable lot with room for outdoor living or potential upgrades. Please note that the property is equipped with a cesspool system and does not have a septic system. It is being sold as-is, presenting a great opportunity for those willing to invest a little TLC. Whether you're looking to expand your real estate portfolio or secure a multi-generational home, this property offers great potential at a competitive price.

Key facts

• Sizable lot
• Outdoor living
• 0.62 acre lot

Tags

• SIZABLE LOT
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 1×4bd/1ba + 1×3bd/1.5ba units multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 34.9% 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.
• Frankfort-Schuyler Central School District (town): math 32% / reading 45% proficiency, ranked #538 of 590 in NY (top 91%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 40 active listings in the ZIP; 54 units permitted in Herkimer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($657 loan paydown + $10k appreciation (10.0% local appreciation)).
• Herkimer County population projected at -24% 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 $27k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 428 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $25k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 428 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 4.10% ✓
• Cap rate: 34.94%
• Cash-on-cash: 102.31%
• DSCR: 5.55
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.38×
• Total profit: $196,333
• Equity at exit: $85,584

10-year hold

• IRR: —
• Equity multiple: 18.48×
• Total profit: $464,887
• Equity at exit: $184,564

Cash invested: $26,600 (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 13340

• Home prices YoY: 8.1%
• Active inventory: 40
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $3,897 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$273 /mo · $3,276/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$818
• Net cashflow: $2,268

Break-even live

Break-even rent $1,026

Max offer price $95,000

Occupancy floor 37%

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

Units	Beds	Baths	Est. rent
1× unit	4	1	$1,965
1× unit	3	1.5	$1,932
Total (2 units)			$3,897

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $95,000 Active 428 DOM
2. 2026-06-18
   days on market $95,000 Active 427 DOM
3. 2026-06-17
   days on market $95,000 Active 426 DOM
4. 2026-06-16
   days on market $95,000 Active 425 DOM
5. 2026-06-15
   days on market $95,000 Active 424 DOM
6. 2026-06-14
   days on market $95,000 Active 422 DOM
7. 2026-06-13
   days on market $95,000 Active 421 DOM
8. 2026-06-10
   days on market $95,000 Active 419 DOM
9. 2026-06-09
   days on market $95,000 Active 418 DOM
10. 2026-06-08
    days on market $95,000 Active 417 DOM
11. 2026-06-07
    days on market $95,000 Active 416 DOM
12. 2026-06-02
    days on market $95,000 Active 411 DOM
13. 2026-06-01
    days on market $95,000 Active 410 DOM
14. 2026-05-31
    days on market $95,000 Active 409 DOM
15. 2026-05-30
    days on market $95,000 Active 408 DOM
16. 2026-03-26
    price $95,000 913-char remark

    Show marketing remark (913 chars)

    Introducing a versatile two-family home located in the heart of Frankfort, perfect for investors or owner-occupants seeking additional rental income in the future. This spacious property features two separate units. The first unit includes four bedrooms and one full bathroom, offering ample living space for larger households. The second unit features three bedrooms and one and a half bathrooms, providing a comfortable and functional layout for tenants or extended family. The home sits on a sizable lot with room for outdoor living or potential upgrades. Please note that the property is equipped with a cesspool system and does not have a septic system. It is being sold as-is, presenting a great opportunity for those willing to invest a little TLC. Whether you're looking to expand your real estate portfolio or secure a multi-generational home, this property offers great potential at a competitive price.

17. 2026-01-08
    price $105,000 913-char remark

    Show marketing remark (913 chars)

    Introducing a versatile two-family home located in the heart of Frankfort, perfect for investors or owner-occupants seeking additional rental income in the future. This spacious property features two separate units. The first unit includes four bedrooms and one full bathroom, offering ample living space for larger households. The second unit features three bedrooms and one and a half bathrooms, providing a comfortable and functional layout for tenants or extended family. The home sits on a sizable lot with room for outdoor living or potential upgrades. Please note that the property is equipped with a cesspool system and does not have a septic system. It is being sold as-is, presenting a great opportunity for those willing to invest a little TLC. Whether you're looking to expand your real estate portfolio or secure a multi-generational home, this property offers great potential at a competitive price.

18. 2025-04-17
    listed $119,900 Active 913-char remark

    Show marketing remark (913 chars)

    Introducing a versatile two-family home located in the heart of Frankfort, perfect for investors or owner-occupants seeking additional rental income in the future. This spacious property features two separate units. The first unit includes four bedrooms and one full bathroom, offering ample living space for larger households. The second unit features three bedrooms and one and a half bathrooms, providing a comfortable and functional layout for tenants or extended family. The home sits on a sizable lot with room for outdoor living or potential upgrades. Please note that the property is equipped with a cesspool system and does not have a septic system. It is being sold as-is, presenting a great opportunity for those willing to invest a little TLC. Whether you're looking to expand your real estate portfolio or secure a multi-generational home, this property offers great potential at a competitive price.

19. 2021-06-09
    soldstatus $75,000
20. 2021-06-03
    soldstatus $75,000 53-char remark

    Show marketing remark (53 chars)

    Property does not have septic, property has ceespool.

21. 2020-11-25
    listed $99,900 53-char remark

    Show marketing remark (53 chars)

    Property does not have septic, property has ceespool.

ⓘ 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: $3,276 · $273/mo
• Projected year-2 tax: $3,276 · $273/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 17 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,764
• − Mortgage interest: −$5,321
• − Property taxes: −$3,276
• − Insurance: −$475
• − Repairs & maintenance: −$3,741
• − Management: −$3,741
• − Depreciation: −$2,764
• Taxable income: $27,445
• Est. tax owed @ 24.0%: −$6,587
• After-tax cash flow: $20,627/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: Frankfort-Schuyler Central School District
• NCES district ID: 3611400
• Math proficiency: 32% ▼ -12.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $46,499
• Composite: 32.87/100
• National rank: #5610
• State rank: #538 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

• City population: 72,968
• Population (ZIP): 7,322

Population outlook (Herkimer County) Hauer SSP2

• Today (2025): 59,340 people
• By 2030: 56,838 · -4.2%
• By 2040: 51,098 · -13.9%
• By 2050: 45,080 · -24.0%
• By 2075: 32,648 · -45.0%
• By 2100: 22,266 · -62.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Black 2% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Lithuanian 3% American 2%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Russian/Polish/Slavic 6% Other Indo-European 2% Spanish 1%

Political lean MEDSL · Herkimer

• 2024 margin: Solid R (+36.4) · D 31.8% · R 68.2%
• 2008→2024 swing: -27.1pp toward R · 2008: -9.3pp · 2024: -36.4pp
• All cycles: 2024: R+36.4 2020: R+30.5 2016: R+34.5 2012: R+8.4 2008: R+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.15%
• Current HPI: 336.077
• Rent YoY: —
• Metro: —
• 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

-4.9% since first listed

6 events — show timeline

• 2026-03-26 Price Changed $95,000 CNYIS
• 2026-01-08 Price Changed $105,000 CNYIS
• 2025-04-17 Listed $119,900 CNYIS
• 2021-06-09 Sold (Public Records) $75,000 Public Records
• 2021-06-03 Sold (MLS) $75,000 CNYIS
• 2020-11-25 Listed $99,900 CNYIS

Property tax history

+6.0%/yr

Latest (2025): $3,276 · +0.2% YoY. Source: county tax records.