1311 Mary St · Utica, NY 13501

$229,000

4 bd · 2.0 ba · 1,944 sqft · MultiFamily public records · 10 Days on market

Built 1930 2,490 sqft lot $118/sqft · 24% below area Est $302k · 24% under

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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 +2.5/5.0

Multi-family units

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

Listing remarks

Perfect opportunity for an owner-occupied investment in the City of Utica! This meticulously maintained 2-family home features two spacious 2-bedroom, 1-bath units—live in one and let the other help cover your mortgage. Both apartments are clean and fresh, offering a practical layout with eat-in kitchens, comfortable living areas, and porch access for added space and enjoyment. Numerous recent updates provide peace of mind and added value, including updated electrical service from the pole to the house, newer entry doors with both front entrances recently replaced, and newer replacement windows in both apartments as well as a flat screen tv upstairs. Both units have been freshly paint

Key facts

• 2 family home
• Newer entry doors
• Porch access

Tags

• 2 FAMILY HOME
• EAT IN KITCHENS
• PORCH ACCESS
• UPDATED ELECTRICAL SERVICE
• NEWER ENTRY DOORS
• NEWER REPLACEMENT WINDOWS

Property features AI

Finance

• Other: Property set up as a 2-unit building with separate gas and electric meters for each unit
• Financial info: Owner pays trash collection and water (rent includes same); Operating expense details: see remarks

Exterior

• Parking: Two or more off-street parking spaces
• Utilities: Electricity connected (circuit breakers); Public water connected; Sewer connected; Cable available; High-speed internet available
• Home design: Two-story property; Resale condition
• Construction: Block foundation; Vinyl siding; Asphalt architectural shingle roof; Attic/crawl hatchway(s) insulated; Blown-in insulation; Spray foam insulation; PEX plumbing; Year built: existing
• Exterior features: Enclosed porch; Covered porch; Porch; Fully fenced yard; Full fencing

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: Multi-unit property with a total of 2 units
• Flooring: Carpet; Hardwood; Ceramic tile / Tile; Vinyl; Varies
• Bathrooms: Two full bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fan(s); Drapes and window treatments; Thermal windows; See remarks (additional interior details)
• Laundry & utility: Washer hookup; Sump pump in full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $229k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $721/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $229k).
• Cap rate 13.8% 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: 143 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• At $3,587/mo this rent would consume 82% 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 $24k of equity ($2k loan paydown + $23k 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 $64k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $229,000

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 1930 — 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: 1.57% ✓
• Cap rate: 13.85%
• Cash-on-cash: 26.99%
• DSCR: 2.20
• GRM: 5.3

CMA / ARV

• ARV (median comp): $302,244
• List price: $229,000
• Delta: -24.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 Saint Anthony St	0.10mi	3/2.0 (-1)	1,976 (+2%)	9mo	$149,900	$76	80
517 Jefferson Ave	0.16mi	5/2.5 (+1)	2,192 (+13%)	4mo	$150,000	$68	61
1821 Rutger St	0.35mi	4/2.5	1,768 (-9%)	9mo	$155,000	$88	59
1237 Laura St	0.46mi	4/2.0	1,656 (-15%)	6mo	$177,000	$107	48
1136 Hilton Ave	0.61mi	4/2.0	2,064 (+6%)	17mo	$226,000	$109	47
740 Jay St	0.65mi	4/2.0	2,112 (+9%)	13mo	$142,000	$67	44

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: 44.7%
• Equity multiple: 4.38×
• Total profit: $216,497
• Equity at exit: $206,301

10-year hold

• IRR: 38.7%
• Equity multiple: 9.81×
• Total profit: $565,199
• Equity at exit: $444,897

Cash invested: $64,120 (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: 10.6×

Monthly cashflow live

• Estimated rent: $3,587 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$95 /mo · $1,145/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$753
• Net cashflow: $1,442

Break-even live

Break-even rent $1,762

Max offer price $229,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,572	-5% $1,507	+0% $1,442	+5% $1,377	+10% $1,312
Rent	-10% $1,159	-5% $1,300	+0% $1,442	+5% $1,584	+10% $1,725
Rate	-1.0pp $1,557	-0.5pp $1,500	base $1,442	+0.5pp $1,383	+1.0pp $1,322

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,588
Total (2 units)			$3,587

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Eagle St Utica, NY	3.0	1.0	1526	$1,300	$0.85	44d	1	0.84mi
1124 Dudley Ave Unit 1 Utica, NY	3.0	1.0	1300	$1,400	$1.08	44d	1	1.23mi

Listing history 5 events

1. 2026-05-14
   status Pending 1517-char remark
2. 2026-05-06
   price $229,000 1517-char remark
3. 2026-05-06
   price $229,900 1517-char remark
4. 2026-05-06
   price $209,900 1517-char remark
5. 2026-05-04
   listed $229,000 Active 1517-char remark

ⓘ 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: $1,145 · $95/mo
• Projected year-2 tax: $2,508 · $209/mo
• Expected delta: +$1,362/yr (+$114/mo · 119.0%)

ⓘ 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 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: $43,044
• − Mortgage interest: −$12,828
• − Property taxes: −$1,145
• − Insurance: −$1,145
• − Repairs & maintenance: −$3,444
• − Management: −$3,444
• − Depreciation: −$6,662
• Taxable income: $14,377
• Est. tax owed @ 24.0%: −$3,451
• After-tax cash flow: $13,853/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

+0.0% since first listed

5 events — show timeline

• 2026-05-14 Pending — CNYIS
• 2026-05-06 Price Changed $229,000 CNYIS
• 2026-05-06 Price Changed $229,900 CNYIS
• 2026-05-06 Price Changed $209,900 CNYIS
• 2026-05-04 Listed $229,000 CNYIS

Property tax history

-0.3%/yr

Latest (2025): $1,145 · -33.5% YoY. Source: county tax records.