742 Jay St · Utica, NY 13501

$374,000

24 bd · 16.0 ba · 4,350 sqft · MultiFamily public records · 26 Days on market

Built 1955

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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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Don’t miss out on this great investment property! Updated fully rented 4-Unit property with Off-Street Parking. With all units occupied and steady rents in place, this property offers a stable and reliable source of income. Newer roof. Furnaces and hot water tanks are less than 5 years old. PROPERTY CAN BE PURCHASED AS A PACKAGE WITH 742 JAY ST (4 APARTMENTS), 744 JAY ST (3 APARTMENTS), 746 JAY ST (LOT), 748 JAY ST (2 APARTMENTS), 752 JAY ST (GARAGE & LOT). TOTAL OF 11 APARTMENTS, 4 HOUSES AND 2 LOTS. ALL APARTMENTS ARE FULLY OCCUPIED. THERE IS AN OPPORTUNITY FOR RENT IMPROVEMENT.

Key facts

• Completely renovated
• Conveniently located
• Built 1955

Tags

• COMPLETELY RENOVATED
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $374k.

Deal economics

• At list price, monthly cash flow is $4k ($54k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $374k).
• Recommended offer: $368k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.7% 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 $8,495/mo this rent would consume 194% 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 $40k of equity ($3k loan paydown + $37k 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 $105k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($368k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $368,390 (1.5% below list)

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 1955 — 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: 2.27% ✓
• Cap rate: 20.68%
• Cash-on-cash: 51.40%
• DSCR: 3.29
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 64.8%
• Equity multiple: 5.67×
• Total profit: $489,272
• Equity at exit: $336,929

10-year hold

• IRR: 58.4%
• Equity multiple: 12.61×
• Total profit: $1,215,989
• Equity at exit: $726,600

Cash invested: $104,720 (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: 14.7×

Monthly cashflow live

• Estimated rent: $8,495 medium
• Mortgage (P&I): −$1,961
• Tax from tax record: −$109 /mo · $1,303/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,784
• Net cashflow: $4,485

Break-even live

Break-even rent $2,817

Max offer price $374,000

Occupancy floor 42%

Sensitivity live

Price	-10% $4,697	-5% $4,591	+0% $4,485	+5% $4,379	+10% $4,274
Rent	-10% $3,814	-5% $4,150	+0% $4,485	+5% $4,821	+10% $5,156
Rate	-1.0pp $4,674	-0.5pp $4,580	base $4,485	+0.5pp $4,388	+1.0pp $4,290

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$8,496
Total (4 units)			$8,495

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: $93,500
• Closing costs: $11,220
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $374,000 Active 26 DOM
2. 2026-06-18
   days on market $374,000 Active 25 DOM
3. 2026-06-17
   days on market $374,000 Active 24 DOM
4. 2026-06-16
   days on market $374,000 Active 23 DOM
5. 2026-06-15
   days on market $374,000 Active 22 DOM
6. 2026-06-14
   days on market $374,000 Active 20 DOM
7. 2026-06-13
   days on market $374,000 Active 19 DOM
8. 2026-06-10
   days on market $374,000 Active 17 DOM
9. 2026-06-09
   days on market $374,000 Active 16 DOM
10. 2026-06-08
    days on market $374,000 Active 15 DOM
11. 2026-06-07
    days on market $374,000 Active 14 DOM
12. 2026-06-03
    days on market $374,000 Active 10 DOM
13. 2026-06-02
    days on market $374,000 Active 9 DOM
14. 2026-06-01
    days on market $374,000 Active 8 DOM
15. 2026-05-31
    days on market $374,000 Active 7 DOM
16. 2026-05-30
    days on market $374,000 Active 6 DOM
17. 2026-05-25
    listed $374,000 Active
18. 2026-04-03
    historical $1,030
19. 2026-03-30
    listed $1,030
20. 2025-12-15
    historical $1,030
21. 2025-10-25
    price $1,030
22. 2025-10-21
    listed $1,070
23. 2025-06-16
    soldstatus $8,250,000
24. 2025-05-29
    soldstatus $127,500 Closed 600-char remark

    Show marketing remark (600 chars)

    Don’t miss out on this great investment property! Updated fully rented 4-Unit property with Off-Street Parking. With all units occupied and steady rents in place, this property offers a stable and reliable source of income. Newer roof. Furnaces and hot water tanks are less than 5 years old. PROPERTY CAN BE PURCHASED AS A PACKAGE WITH 742 JAY ST (4 APARTMENTS), 744 JAY ST (3 APARTMENTS), 746 JAY ST (LOT), 748 JAY ST (2 APARTMENTS), 752 JAY ST (GARAGE & LOT). TOTAL OF 11 APARTMENTS, 4 HOUSES AND 2 LOTS. ALL APARTMENTS ARE FULLY OCCUPIED. THERE IS AN OPPORTUNITY FOR RENT IMPROVEMENT.

25. 2025-01-21
    status Pending 600-char remark

    Show marketing remark (600 chars)

    Don’t miss out on this great investment property! Updated fully rented 4-Unit property with Off-Street Parking. With all units occupied and steady rents in place, this property offers a stable and reliable source of income. Newer roof. Furnaces and hot water tanks are less than 5 years old. PROPERTY CAN BE PURCHASED AS A PACKAGE WITH 742 JAY ST (4 APARTMENTS), 744 JAY ST (3 APARTMENTS), 746 JAY ST (LOT), 748 JAY ST (2 APARTMENTS), 752 JAY ST (GARAGE & LOT). TOTAL OF 11 APARTMENTS, 4 HOUSES AND 2 LOTS. ALL APARTMENTS ARE FULLY OCCUPIED. THERE IS AN OPPORTUNITY FOR RENT IMPROVEMENT.

26. 2025-01-06
    listed $129,900 Active 600-char remark

    Show marketing remark (600 chars)

    Don’t miss out on this great investment property! Updated fully rented 4-Unit property with Off-Street Parking. With all units occupied and steady rents in place, this property offers a stable and reliable source of income. Newer roof. Furnaces and hot water tanks are less than 5 years old. PROPERTY CAN BE PURCHASED AS A PACKAGE WITH 742 JAY ST (4 APARTMENTS), 744 JAY ST (3 APARTMENTS), 746 JAY ST (LOT), 748 JAY ST (2 APARTMENTS), 752 JAY ST (GARAGE & LOT). TOTAL OF 11 APARTMENTS, 4 HOUSES AND 2 LOTS. ALL APARTMENTS ARE FULLY OCCUPIED. THERE IS AN OPPORTUNITY FOR RENT IMPROVEMENT.

ⓘ 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: $1,303 · $109/mo
• Projected year-2 tax: $3,812 · $318/mo
• Expected delta: +$2,509/yr (+$209/mo · 192.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 17 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: $101,940
• − Mortgage interest: −$20,950
• − Property taxes: −$1,303
• − Insurance: −$1,870
• − Repairs & maintenance: −$8,155
• − Management: −$8,155
• − Depreciation: −$10,880
• Taxable income: $50,627
• Est. tax owed @ 24.0%: −$12,150
• After-tax cash flow: $41,674/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

+187.9% since first listed

10 events — show timeline

• 2026-05-25 Listed $374,000 FSBO.com
• 2026-04-03 Rental Removed $1,030 TURBOTENANT
• 2026-03-30 Listed for Rent $1,030 TURBOTENANT
• 2025-12-15 Rental Removed $1,030 TURBOTENANT
• 2025-10-25 Price Changed $1,030 TURBOTENANT
• 2025-10-21 Listed for Rent $1,070 TURBOTENANT
• 2025-06-16 Sold (Public Records) $8,250,000 Public Records
• 2025-05-29 Sold (MLS) $127,500 CNYIS
• 2025-01-21 Pending — CNYIS
• 2025-01-06 Listed $129,900 CNYIS

Property tax history

+2.0%/yr

Latest (2025): $1,303 · -14.1% YoY. Source: county tax records.