1522 Steuben St · Utica, NY 13501

$199,900

6 bd · 2.0 ba · 2,768 sqft · MultiFamily public records · 2 Days on market

Built 1890 6,400 sqft lot Est $149k · 34% over

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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
• 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

Multi-family units

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

Listing remarks MLS

HUD deal -- Fair Condition

Key facts

• 6,400 sq ft lot
• Parking
• Built 1890

Tags

• LARGE PAVED PARKING AREA

Property features AI

Finance

• Financial info: Property configured as two units with separate gas and electric meters; Each unit currently shows $1,100/month actual rent; Owner pays water; rent includes water; Operating expense details: see remarks

Exterior

• Parking: Paved parking available
• Utilities: Electricity connected; Public water connected (owner pays water for rentals); Sewer connected
• Home design: Two-story multi-family building; Existing/resale property
• Construction: Vinyl siding
• Exterior features: Rectangular residential lot; City street frontage; Paved parking available

Interior

• Kitchen: Each unit includes an oven/range and refrigerator; Each unit offers an eat-in kitchen and formal dining room
• Bedrooms: Two 3-bedroom units
• Flooring: Hardwood; Varies by area
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and varied flooring; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $829/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Cap rate 16.2% 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 $3,726/mo this rent would consume 85% 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 $21k of equity ($1k loan paydown + $20k 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 $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y ago 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.
• Current owner paid $34k; list at $200k implies a 488% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

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. Built in 1890 — 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: 1.86% ✓
• Cap rate: 16.25%
• Cash-on-cash: 35.54%
• DSCR: 2.58
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $149,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1541 High St	0.16mi	6/2.0	2,720 (-2%)	7mo	$135,000	$50	84
125 Boyce Ave	0.35mi	6/2.0	2,764 (-0%)	1mo	$175,000	$63	83
1624 Seymour Ave	0.37mi	6/2.0	2,610 (-6%)	2mo	$220,000	$84	71
1664 Miller St	0.39mi	6/2.0	2,912 (+5%)	3mo	$199,900	$69	71
1311 Taylor Ave	0.52mi	5/2.0 (-1)	2,732 (-1%)	8mo	$90,000	$33	62
1506 Oneida St	0.34mi	6/2.0	3,120 (+13%)	3mo	$170,000	$54	61
612 Henry St	0.65mi	7/2.0 (+1)	2,844 (+3%)	2mo	$155,000	$55	58
1418 Brinckerhoff Ave	0.40mi	6/2.0	2,406 (-13%)	9mo	$105,001	$44	52
1146 Brinckerhoff Ave	0.57mi	5/4.0 (-1)	2,692 (-3%)	6mo	$115,000	$43	51
806 Waverly Pl	0.67mi	6/2.0	2,496 (-10%)	4mo	$75,000	$30	49
32 Waverly Pl #34	0.59mi	6/2.0	2,478 (-10%)	9mo	$65,000	$26	48
1716 - 1718 Oneida St	0.65mi	5/3.0 (-1)	2,542 (-8%)	8mo	$180,000	$71	41

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: 51.6%
• Equity multiple: 4.83×
• Total profit: $214,462
• Equity at exit: $180,086

10-year hold

• IRR: 45.2%
• Equity multiple: 10.80×
• Total profit: $548,512
• Equity at exit: $388,362

Cash invested: $55,972 (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: 8.9×

Monthly cashflow live

• Estimated rent: $3,726 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$154 /mo · $1,848/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$782
• Net cashflow: $1,658

Break-even live

Break-even rent $1,627

Max offer price $199,900

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,726
Total (2 units)			$3,726

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-13
   remarks 155-char remark
2. 2026-06-13
   listed $199,900 Pending 2 DOM

ⓘ 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: $1,848 · $154/mo
• Projected year-2 tax: $2,613 · $218/mo
• Expected delta: +$765/yr (+$64/mo · 41.4%)

ⓘ 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 · 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: $44,712
• − Mortgage interest: −$11,198
• − Property taxes: −$1,848
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,577
• − Management: −$3,577
• − Depreciation: −$5,815
• Taxable income: $17,697
• Est. tax owed @ 24.0%: −$4,247
• After-tax cash flow: $15,648/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

+292.9% since first listed

5 events — show timeline

• 2026-06-12 Pending — CNYIS
• 2026-06-10 Listed $199,900 CNYIS
• 2006-03-20 Sold (MLS) $34,000 Global MLS
• 2005-12-09 Listed $32,000 Global MLS
• 2005-03-11 Sold (Public Records) $50,881 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,848 · +5.6% YoY. Source: county tax records.