1235 Hammond Ave #2 · Utica, NY 13501

$144,900

6 bd · 2.0 ba · 2,793 sqft · MultiFamily · 6 Days on market

Built 1930 Fair condition 0.27 ac lot Est $226k · 36% under ↓ 9% since listing

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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 +15.0/15.0
• 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 +2.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This two-unit property offers exceptional potential, featuring separate private entrances and a detached two-stall garage. Each unit includes three bedrooms, and the upper unit adds convenience with its own laundry room. With some sweat equity and TLC, you can restore this home to its original charm. A great opportunity for a summer project or investment. Additional lot is also included to the right of this property. Total frontage for both lots is 120 feet. Being sold as-is.

Key facts

• Total frontage
• Laundry room
• Private entrances

Tags

• PRIVATE ENTRANCES
• DETACHED GARAGE
• LAUNDRY ROOM
• ADDITIONAL LOT
• TOTAL FRONTAGE

Property features AI

Finance

• Financial info: Multi-unit property with 2 total units; Operating expense details referenced in remarks
• HOA & community: Other annual assessment reported

Exterior

• Parking: Attached garage with 2 spaces; Additional off-street parking (two or more spaces)
• Utilities: Public water connected; Sewer connected
• Home design: 2-story building; Resale property
• Construction: Composite siding; Asphalt roof; Existing (previously built)
• Exterior features: Rectangular residential lot; City street frontage; Lot dimensions approximately 80 x 149

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Duplex with 2 units total
• Flooring: Carpet; Hardwood; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms (total)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement; Gas water heater
• Laundry & utility: Separate electric meters for units (2); Single shared gas meter

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $145k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $145k).
• Cap rate 23.2% 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; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• At $3,852/mo this rent would consume 88% 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 $15k of equity ($1k loan paydown + $14k 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 $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.66% ✓
• Cap rate: 23.20%
• Cash-on-cash: 60.39%
• DSCR: 3.69
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $226,233
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
914 Eagle St	0.18mi	6/2.0	2,400 (-14%)	5mo	$150,000	$63	64
1619 Mohawk St	0.57mi	6/2.0	2,704 (-3%)	6mo	$240,000	$89	63
1311 Taylor Ave	0.63mi	5/2.0 (-1)	2,732 (-2%)	8mo	$90,000	$33	55
1131 Saint Vincent St	0.59mi	7/3.0 (+1)	2,737 (-2%)	7mo	$160,000	$58	54
923 Rutger St	0.66mi	6/2.0	2,600 (-7%)	4mo	$245,500	$94	54
1547 Mohawk St	0.47mi	6/2.0	2,496 (-11%)	10mo	$250,000	$100	52
810 South St	0.49mi	6/2.0	2,452 (-12%)	8mo	$195,000	$80	50
1020 Tilden Ave	0.75mi	6/2.0	2,508 (-10%)	5mo	$230,000	$92	44
1222 Mummery St	0.54mi	5/2.0 (-1)	2,401 (-14%)	6mo	$195,000	$81	41
1146 Brinckerhoff Ave	0.75mi	5/4.0 (-1)	2,692 (-4%)	6mo	$115,000	$43	41
1010 Morris St	0.71mi	5/2.0 (-1)	2,512 (-10%)	8mo	$280,000	$111	39
1418 Brinckerhoff Ave	0.72mi	6/2.0	2,406 (-14%)	9mo	$105,001	$44	36

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: 72.5%
• Equity multiple: 6.15×
• Total profit: $209,012
• Equity at exit: $130,537

10-year hold

• IRR: 66.4%
• Equity multiple: 13.65×
• Total profit: $513,361
• Equity at exit: $281,509

Cash invested: $40,572 (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: 6.3×

Monthly cashflow live

• Estimated rent: $3,852 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,174/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$809
• Net cashflow: $2,042

Break-even live

Break-even rent $1,268

Max offer price $144,900

Occupancy floor 42%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,852
Total (2 units)			$3,852

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-23
   listed $144,900 Active
2. 2026-04-24
   historical
3. 2026-01-11
   price $149,000
4. 2025-12-19
   price $152,900
5. 2025-11-26
   price $159,900
6. 2025-11-26
   listed $159,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $46,224
• − Mortgage interest: −$8,117
• − Property taxes: −$2,174
• − Insurance: −$724
• − Repairs & maintenance: −$3,698
• − Management: −$3,698
• − Depreciation: −$4,215
• Taxable income: $23,598
• Est. tax owed @ 24.0%: −$5,664
• After-tax cash flow: $18,837/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.

Condition & rehab AI · 1 photo

Fair 40/100 Moderate rehab

This two-unit property requires moderate renovations to improve its curb appeal and value. Exterior repairs and maintenance are critical to address weathered siding, moss on the roof, and overgrown vegetation.

Repairs flagged

• Major siding — Severe weathering and moss
• Major roof — Moss and potential water damage
• Major exterior — Overgrown vegetation and debris

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both trim overgrown vegetation — Improves curb appeal and safety
• Both repair and replace siding — Fixes major issue and improves appearance
• Both repair and replace roof — Fixes major issue and improves appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering and moss	Major	$15,000–50,000
roof · Moss and potential water damage	Major	$15,000–50,000
exterior · Overgrown vegetation and debris	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both trim overgrown vegetation — Improves curb appeal and safety ↑
• Both repair and replace siding — Fixes major issue and improves appearance ↑
• Both repair and replace roof — Fixes major issue and improves appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-8.9% since first listed

6 events — show timeline

• 2026-05-23 Listed $144,900 CNYIS
• 2026-04-24 Listing Removed — CNYIS
• 2026-01-11 Price Changed $149,000 CNYIS
• 2025-12-19 Price Changed $152,900 CNYIS
• 2025-11-26 Price Changed $159,900 CNYIS
• 2025-11-26 Listed $159,000 CNYIS