934 Lenox Ave #936 · Utica, NY 13502

$89,900

6 bd · 2.0 ba · 2,706 sqft · MultiFamily · 3 Days on market

Built 1910 Fair condition 9,000 sqft lot Est $119k · 24% under

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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
• ARV discount +15.0/15.0
• 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 +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Large 2 family home on a double lot. It has a lot of potential. for the right buyer or investor. 3 bed 1 bath in each apartment and plenty of parking space.

Key facts

• 9,000 sq ft lot
• 2 parking spots
• Built 1910

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Cap rate 34.2% vs local median 7.8% 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, 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.
• Zoned schools: Kernan Elementary School (math 16% / reading 33%, grade F, #1,846 of 2,108 statewide, top 91%, 566 students, 81% FRL); Senator James H Donovan Middle School (math 19% / reading 30%, grade F, #611 of 729 statewide, top 88%, 730 students, 84% FRL); Thomas R Proctor High School (math 86% / reading 62%, grade B+, #659 of 1,100 statewide, top 60%, 2,675 students, 76% FRL).
• Market conditions: 150 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• At $3,429/mo this rent would consume 71% 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,900

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.81% ✓
• Cap rate: 34.16%
• Cash-on-cash: 99.52%
• DSCR: 5.43
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $119,064
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
934 Lenox Ave #936	0.00mi	6/2.0	2,706 (0%)	1mo	$90,000	$33	99
1131 Whitesboro St	0.25mi	6/2.0	2,748 (+2%)	1mo	$110,000	$40	85
1511 Whitesboro St	0.40mi	6/3.0	2,666 (-2%)	7mo	$105,000	$39	70
712 Roberts St	0.38mi	6/2.0	2,524 (-7%)	5mo	$92,000	$36	67
1211 York St	0.26mi	6/2.0	2,444 (-10%)	6mo	$211,000	$86	67
612 Henry St	0.44mi	7/2.0 (+1)	2,844 (+5%)	2mo	$155,000	$55	64
1109 York St	0.18mi	5/2.0 (-1)	2,406 (-11%)	5mo	$118,000	$49	64
806 Waverly Pl	0.56mi	6/2.0	2,496 (-8%)	4mo	$75,000	$30	58
730 Roberts St	0.34mi	5/2.0 (-1)	2,372 (-12%)	4mo	$105,000	$44	55
32 Waverly Pl #34	0.60mi	6/2.0	2,478 (-8%)	9mo	$65,000	$26	51
1206 Mathews Ave	0.64mi	6/2.0	2,500 (-8%)	8mo	$185,000	$74	50
30 32 Watson Pl	0.62mi	6/2.0	3,050 (+13%)	9mo	$250,290	$82	42

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: —
• Equity multiple: 5.71×
• Total profit: $118,446
• Equity at exit: $13,404

10-year hold

• IRR: —
• Equity multiple: 11.91×
• Total profit: $274,562
• Equity at exit: $7,773

Cash invested: $25,172 (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: 4.4×

Monthly cashflow live

• Estimated rent: $3,429 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$720
• Net cashflow: $2,088

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 34%

Sensitivity live

Price	-10% $2,150	-5% $2,119	+0% $2,088	+5% $2,057	+10% $2,026
Rent	-10% $1,817	-5% $1,952	+0% $2,088	+5% $2,223	+10% $2,359
Rate	-1.0pp $2,133	-0.5pp $2,110	base $2,088	+0.5pp $2,064	+1.0pp $2,041

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,428
Total (2 units)			$3,429

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2025-12-29
   status Pending
2. 2025-12-24
   listed $89,900 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 1/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,148
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$3,292
• − Management: −$3,292
• − Depreciation: −$2,615
• Taxable income: $25,115
• Est. tax owed @ 24.0%: −$6,028
• After-tax cash flow: $19,024/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family home requires extensive repairs and maintenance, including roof, siding, and exterior wall repairs, as well as landscaping and painting. Significant improvements are needed to increase its resale and rental value.

Repairs flagged

• Major roof — Signs of damage and potential leaks.
• Major siding — Areas of the siding appear loose or damaged.
• Major fencing — Sections of the fencing are broken or missing.
• Major exterior walls — Areas of the exterior walls appear loose or damaged.
• Major landscaping — The landscaping is minimal and overgrown, requiring significant work.
• Major exterior walls — Areas of the exterior walls appear loose or damaged.

Value-add opportunities

• Both roof repair — Fixing the roof will address a major issue and improve both resale and rental value.
• Both siding repair — Repairing the siding will improve the home's appearance and increase its value.
• Both fencing repair — Repairing the fencing will improve the home's appearance and increase its value.
• Both exterior wall repair — Repairing the exterior walls will improve the home's appearance and increase its value.
• Both landscaping — Landscaping will improve the home's curb appeal and increase its value.
• Both painting — Painting will improve the home's appearance and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of damage and potential leaks.	Major	$15,000–50,000
siding · Areas of the siding appear loose or damaged.	Major	$15,000–50,000
fencing · Sections of the fencing are broken or missing.	Major	$15,000–50,000
exterior walls · Areas of the exterior walls appear loose or damaged.	Major	$15,000–50,000
landscaping · The landscaping is minimal and overgrown, requiring significant work.	Major	$15,000–50,000
exterior walls · Areas of the exterior walls appear loose or damaged.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both roof repair — Fixing the roof will address a major issue and improve both resale and rental value. ↑
• Both siding repair — Repairing the siding will improve the home's appearance and increase its value. ↑
• Both fencing repair — Repairing the fencing will improve the home's appearance and increase its value. ↑
• Both exterior wall repair — Repairing the exterior walls will improve the home's appearance and increase its value. ↑
• Both landscaping — Landscaping will improve the home's curb appeal and increase its value. ↑
• Both painting — Painting will improve the home's appearance and increase its value. ↑

ⓘ 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): 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

2 events — show timeline

• 2025-12-29 Pending — CNYIS
• 2025-12-24 Listed $89,900 CNYIS