515 Henry St · Utica, NY 13502

$159,900

6 bd · 2.0 ba · 1,971 sqft · MultiFamily public records · 107 Days on market

Built 1900 3,811 sqft lot Est $118k · 35% 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 MLS

Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

Key facts

• Upgraded bathroom
• Private fenced yard
• 3,811 sq ft lot

Tags

• UPGRADED BATHROOM
• PRIVATE FENCED YARD
• DETACHED TWO STALL GARAGE

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: 150 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• At $2,764/mo this rent would consume 57% 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 $5k 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 $45k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $160k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.73% ✓
• Cap rate: 14.78%
• Cash-on-cash: 30.33%
• DSCR: 2.35
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $118,260
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 Wager St	0.29mi	6/2.0	2,122 (+8%)	1mo	$182,000	$86	73
706 Roberts St	0.25mi	5/2.0 (-1)	2,060 (+4%)	7mo	$153,750	$75	70
1202 Stark St	0.35mi	6/2.0	2,200 (+12%)	3mo	$72,500	$33	62
1106 Lenox Ave	0.49mi	5/2.0 (-1)	1,986 (+1%)	11mo	$135,000	$68	62
714 Roberts St	0.26mi	7/2.0 (+1)	2,230 (+13%)	4mo	$115,000	$52	58
818 Oswego St	0.46mi	6/2.0	1,840 (-7%)	13mo	$70,000	$38	57
141 Eagle St	0.36mi	5/2.0 (-1)	2,193 (+11%)	6mo	$36,500	$17	54
935 Lenox Ave	0.48mi	6/2.0	2,180 (+11%)	12mo	$130,000	$60	50
1011 Knox St	0.43mi	5/2.0 (-1)	1,790 (-9%)	16mo	$75,000	$42	46
1022 Oriskany St W	0.72mi	5/2.5 (-1)	1,972 (+0%)	17mo	$145,000	$74	45
1206 Maple St	0.62mi	5/2.0 (-1)	1,758 (-11%)	6mo	$167,000	$95	43
1415 Elm St	0.37mi	5/2.0 (-1)	2,260 (+15%)	19mo	$90,000	$40	38

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: 25.0%
• Equity multiple: 2.03×
• Total profit: $46,163
• Equity at exit: $23,842

10-year hold

• IRR: 32.7%
• Equity multiple: 3.97×
• Total profit: $133,031
• Equity at exit: $13,825

Cash invested: $44,772 (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: 8.7×

Monthly cashflow live

• Estimated rent: $2,764 high
• Mortgage (P&I): −$839
• Tax from tax record: −$147 /mo · $1,763/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $1,131

Break-even live

Break-even rent $1,332

Max offer price $159,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,222	-5% $1,177	+0% $1,131	+5% $1,086	+10% $1,041
Rent	-10% $913	-5% $1,022	+0% $1,131	+5% $1,241	+10% $1,350
Rate	-1.0pp $1,212	-0.5pp $1,172	base $1,131	+0.5pp $1,090	+1.0pp $1,048

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$1,535
1× unit	1	1.5	$1,229
Total (2 units)			$2,764

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-04-04
   status Pending
2. 2026-03-23
   price $159,900
3. 2026-01-12
   price $174,300
4. 2025-12-18
   listed $175,000 Active
5. 2021-10-20
   soldstatus $85,000 Closed Sale or Rented 277-char remark

   Show marketing remark (277 chars)

   Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

6. 2021-09-27
   status Pending Sale 277-char remark

   Show marketing remark (277 chars)

   Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

7. 2021-09-25
   historical 277-char remark

   Show marketing remark (277 chars)

   Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

8. 2021-09-16
   historical Continue to Show- Under Contract 277-char remark

   Show marketing remark (277 chars)

   Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

9. 2021-09-04
   price $92,000 277-char remark

   Show marketing remark (277 chars)

   Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

10. 2021-09-04
    price $90,000 277-char remark

    Show marketing remark (277 chars)

    Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

11. 2021-09-04
    status Active 277-char remark

    Show marketing remark (277 chars)

    Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

12. 2021-08-27
    status Pending Sale 277-char remark

    Show marketing remark (277 chars)

    Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

13. 2021-08-25
    historical 277-char remark

    Show marketing remark (277 chars)

    Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

14. 2021-07-31
    historical Continue to Show- Under Contract 277-char remark

    Show marketing remark (277 chars)

    Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

15. 2021-05-26
    listed $95,000 Active 277-char remark

    Show marketing remark (277 chars)

    Investors take note! This 2 unit is offering a private fenced yard plus a 2 car, detached garage! Each unit gets its own washer/dryer too! All newer windows, doors and roof. Newer appliances and new garage doors. Don't wait! (Could be converted back to a single family as well)

16. 2017-08-18
    soldstatus $25,000 77-char remark

    Show marketing remark (77 chars)

    Great buy! Investors take note. Close to Munson Williams and Pratt Institute.

17. 2017-08-04
    soldstatus $25,000
18. 2017-05-05
    listed $45,000 77-char remark

    Show marketing remark (77 chars)

    Great buy! Investors take note. Close to Munson Williams and Pratt Institute.

19. 2000-07-27
    soldstatus $49,000

ⓘ 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: $1,763 · $147/mo
• Projected year-2 tax: $2,233 · $186/mo
• Expected delta: +$470/yr (+$39/mo · 26.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,168
• − Mortgage interest: −$8,957
• − Property taxes: −$1,763
• − Insurance: −$800
• − Repairs & maintenance: −$2,653
• − Management: −$2,653
• − Depreciation: −$4,652
• Taxable income: $11,690
• Est. tax owed @ 24.0%: −$2,806
• After-tax cash flow: $10,772/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

+226.3% since first listed

19 events — show timeline

• 2026-04-04 Pending — CNYIS
• 2026-03-23 Price Changed $159,900 CNYIS
• 2026-01-12 Price Changed $174,300 CNYIS
• 2025-12-18 Listed $175,000 CNYIS
• 2021-10-20 Sold (MLS) $85,000 CNYIS
• 2021-09-27 Pending — CNYIS
• 2021-09-25 Listing Removed — CNYIS
• 2021-09-16 Contingent — CNYIS
• 2021-09-04 Price Changed $92,000 CNYIS
• 2021-09-04 Price Changed $90,000 CNYIS
• 2021-09-04 Relisted — CNYIS
• 2021-08-27 Pending — CNYIS
• 2021-08-25 Listing Removed — CNYIS
• 2021-07-31 Contingent — CNYIS
• 2021-05-26 Listed $95,000 CNYIS
• 2017-08-18 Sold (MLS) $25,000 CNYIS
• 2017-08-04 Sold (Public Records) $25,000 Public Records
• 2017-05-05 Listed $45,000 CNYIS
• 2000-07-27 Sold (Public Records) $49,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,763 · +5.6% YoY. Source: county tax records.