1204 Howard Ave · Utica, NY 13501

$89,500

5 bd · 2.0 ba · 2,276 sqft · MultiFamily public records · 104 Days on market

Built 1890 5,000 sqft lot $39/sqft · 55% below area ↓ 10% 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 +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 MLS

Investors or owner occupied buyers great opportunity to renovate a long term 2 family separate utility homestead that has great potential. Beautiful one stall garage and nice yard for a family. Property is sold "AS IS" and cash only offers.

Key facts

• 5,000 sq ft lot
• Garage
• Built 1890

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $909/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 30.7% 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 $3,056/mo this rent would consume 70% 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 $10k of equity ($619 loan paydown + $9k 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 $25k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,445 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 3.41% ✓
• Cap rate: 30.68%
• Cash-on-cash: 87.09%
• DSCR: 4.87
• GRM: 2.4

CMA / ARV

• ARV (median comp): $197,262
• List price: $89,500
• Delta: -54.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 Eagle St	0.24mi	5/2.0	2,193 (-4%)	6mo	$36,500	$17	78
124 Wall St	0.42mi	4/2.0 (-1)	2,236 (-2%)	10mo	$115,000	$51	65
1418 Brinckerhoff Ave	0.33mi	6/2.0 (+1)	2,406 (+6%)	9mo	$105,001	$44	62
1534 Brinckerhoff Ave	0.44mi	5/2.0	2,044 (-10%)	1mo	$158,000	$77	62
1559 Taylor Ave	0.59mi	6/2.0 (+1)	2,304 (+1%)	6mo	$200,000	$87	60
1010 Morris St	0.59mi	5/2.0	2,512 (+10%)	8mo	$280,000	$111	49
514 Mary St	0.61mi	5/2.0	2,096 (-8%)	13mo	$75,000	$36	48
1522 Oneida St	0.62mi	4/2.0 (-1)	2,420 (+6%)	13mo	$127,500	$53	44
1004 Rudolph Pl	0.67mi	6/2.0 (+1)	2,112 (-7%)	10mo	$145,000	$69	43
1154 Leeds St	0.73mi	5/3.0	2,422 (+6%)	11mo	$228,000	$94	42
719 South St	0.68mi	6/2.0 (+1)	2,424 (+6%)	14mo	$170,000	$70	41
1624 Seymour Ave	0.62mi	6/2.0 (+1)	2,610 (+15%)	2mo	$220,000	$84	40

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: 96.4%
• Equity multiple: 7.57×
• Total profit: $164,608
• Equity at exit: $80,629

10-year hold

• IRR: 91.5%
• Equity multiple: 16.71×
• Total profit: $393,718
• Equity at exit: $173,879

Cash invested: $25,060 (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: 4.9×

Monthly cashflow live

• Estimated rent: $3,056 high
• Mortgage (P&I): −$469
• Tax from tax record: −$89 /mo · $1,067/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $1,819

Break-even live

Break-even rent $754

Max offer price $89,500

Occupancy floor 35%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,056
Total (2 units)			$3,056

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-07
   statusdays on market $89,500 Pending 104 DOM
2. 2026-06-03
   days on market $89,500 Active 103 DOM
3. 2026-06-02
   days on market $89,500 Active 102 DOM
4. 2026-06-01
   days on market $89,500 Active 101 DOM
5. 2026-05-31
   days on market $89,500 Active 100 DOM
6. 2026-05-30
   days on market $89,500 Active 99 DOM
7. 2026-05-15
   price $89,500 250-char remark

   Show marketing remark (250 chars)

   Investors or owner occupied buyers great opportunity to renovate a long term 2 family separate utility homestead that has great potential. Beautiful one stall garage and nice yard for a family. Property is sold "AS IS" and cash only offers.

8. 2026-02-20
   listed $99,500 Active 250-char remark

   Show marketing remark (250 chars)

   Investors or owner occupied buyers great opportunity to renovate a long term 2 family separate utility homestead that has great potential. Beautiful one stall garage and nice yard for a family. Property is sold "AS IS" and cash only offers.

ⓘ 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: $1,067 · $89/mo
• Projected year-2 tax: $1,290 · $107/mo
• Expected delta: +$223/yr (+$19/mo · 20.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 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: $36,672
• − Mortgage interest: −$5,013
• − Property taxes: −$1,067
• − Insurance: −$448
• − Repairs & maintenance: −$2,934
• − Management: −$2,934
• − Depreciation: −$2,604
• Taxable income: $21,673
• Est. tax owed @ 24.0%: −$5,201
• After-tax cash flow: $16,623/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

-10.1% since first listed

2 events — show timeline

• 2026-05-15 Price Changed $89,500 CNYIS
• 2026-02-20 Listed $99,500 CNYIS

Property tax history

+3.9%/yr

Latest (2025): $1,067 · +5.6% YoY. Source: county tax records.