117 Harding Pl · Utica, NY 13501

$169,000

7 bd · 2.0 ba · 1,982 sqft · MultiFamily public records · 520 Days on market

Built 1880 2,881 sqft lot $85/sqft · 11% below area Est $190k · 11% under ↓ 3% 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 +26.9/30.0
• ARV discount +12.5/15.0
• Appreciation +10.0/10.0
• DSCR +9.3/10.0
• 1% rule +6.5/10.0
• 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: 1 unit. estimate disagrees with records

Key facts

• 2,881 sq ft lot
• 2 parking spots
• Built 1880

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $169k.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $149k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 7.7% in Utica — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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).
• This rent runs 45% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k 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 $47k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 520 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 520 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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: 1.15% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.90%
• DSCR: 1.53
• GRM: 7.2

CMA / ARV

• ARV (median comp): $190,088
• List price: $169,000
• Delta: -11.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 Wager St	0.68mi	6/2.0 (-1)	2,122 (+7%)	1mo	$182,000	$86	51
714 Roberts St	0.70mi	7/2.0	2,230 (+12%)	4mo	$115,000	$52	44
818 Oswego St	0.65mi	6/2.0 (-1)	1,840 (-7%)	13mo	$70,000	$38	42
1202 Stark St	0.71mi	6/2.0 (-1)	2,200 (+11%)	3mo	$72,500	$33	41
1529 Dudley Ave	0.46mi	6/2.0 (-1)	2,194 (+11%)	21mo	$55,000	$25	38
1681 West St	0.54mi	6/2.0 (-1)	2,216 (+12%)	21mo	$200,000	$90	32
1204 Stark St	0.71mi	6/2.0 (-1)	1,758 (-11%)	24mo	$40,000	$23	23
826 - 828 Watson Pl	0.69mi	6/2.0 (-1)	2,246 (+13%)	23mo	$110,000	$49	21

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: 33.0%
• Equity multiple: 3.58×
• Total profit: $121,896
• Equity at exit: $152,249

10-year hold

• IRR: 28.5%
• Equity multiple: 8.09×
• Total profit: $335,405
• Equity at exit: $328,330

Cash invested: $47,320 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,951 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$115 /mo · $1,383/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $469

Break-even live

Break-even rent $1,357

Max offer price $169,000

Occupancy floor 71%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $169,000 Active 520 DOM
2. 2026-06-18
   days on market $169,000 Active 519 DOM
3. 2026-06-17
   days on market $169,000 Active 518 DOM
4. 2026-06-16
   days on market $169,000 Active 517 DOM
5. 2026-06-15
   days on market $169,000 Active 516 DOM
6. 2026-06-14
   days on market $169,000 Active 514 DOM
7. 2026-06-13
   days on market $169,000 Active 513 DOM
8. 2026-06-10
   days on market $169,000 Active 511 DOM
9. 2026-06-09
   days on market $169,000 Active 510 DOM
10. 2026-06-08
    days on market $169,000 Active 509 DOM
11. 2026-06-07
    days on market $169,000 Active 508 DOM
12. 2026-06-03
    days on market $169,000 Active 504 DOM
13. 2026-06-02
    days on market $169,000 Active 503 DOM
14. 2026-06-01
    days on market $169,000 Active 502 DOM
15. 2026-05-31
    days on market $169,000 Active 501 DOM
16. 2026-05-30
    days on market $169,000 Active 500 DOM
17. 2025-04-11
    price $169,000
18. 2025-01-15
    listed $175,000 Active

ⓘ 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: $1,383 · $115/mo
• Projected year-2 tax: $2,120 · $177/mo
• Expected delta: +$737/yr (+$61/mo · 53.3%)

ⓘ 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 1/10 Low
• 🌡 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: $23,410
• − Mortgage interest: −$9,467
• − Property taxes: −$1,383
• − Insurance: −$845
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − Depreciation: −$4,916
• Taxable income: $3,053
• Est. tax owed @ 24.0%: −$733
• After-tax cash flow: $4,898/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

-3.4% since first listed

2 events — show timeline

• 2025-04-11 Price Changed $169,000 CNYIS
• 2025-01-15 Listed $175,000 CNYIS

Property tax history

+4.0%/yr

Latest (2025): $1,383 · +5.6% YoY. Source: county tax records.