6 Meeker Ave · Utica, NY 13502

$214,900

6 bd · 2.0 ba · 2,428 sqft · MultiFamily public records · 13 Days on market

Built 1920 4,000 sqft lot Est $194k · 11% over

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Why this score? — see what drove the C+ 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
• Livability +4.0/5.0
• Schools +2.9/10.0
• ARV discount +2.7/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Well-maintained two-family (up/down) property located in desirable Upper South Utica, just minutes from New Hartford. Built in 1920, this property offers a total of 6 bedrooms and 2 bathrooms across approximately 2,428 sq ft, with each unit featuring 3 bedrooms and 1 full bathroom and spacious. Both units are currently occupied by reliable, long-term tenants, providing immediate rental income with significant upside potential. Property Features: Two units – each 3 bed / 1 bath Washer/dryer room in each unit Separate gas and electric utilities Replacement vinyl windows throughout Recently replaced roof (complete tear-off with new sheathing and shingles) Recently painted exterior Detach

Key facts

• Two family property
• Washer dryer room
• 4,000 sq ft lot

Tags

• TWO FAMILY PROPERTY
• WASHER DRYER ROOM
• REPLACEMENT VINYL WINDOWS
• RECENTLY REPLACED ROOF
• RECENTLY PAINTED EXTERIOR
• DETACHED TWO STALL GARAGE

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $707/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Cap rate 14.2% 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: 150 active listings in the ZIP; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• At $3,480/mo this rent would consume 72% 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 $1k of loan paydown is wiped out by about $6k 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 $60k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $124k; list at $215k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $214,900

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 1920 — 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: 1.62% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.21%
• DSCR: 2.26
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $194,240
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Fairfax Pl #14	0.30mi	6/2.0	2,500 (+3%)	7mo	$210,000	$84	75
104-106 Cornwall Ave	0.37mi	6/2.0	2,600 (+7%)	6mo	$210,000	$81	66
120 Lynch Ave	0.25mi	6/2.0	2,500 (+3%)	22mo	$250,000	$100	65
121 Hawthorne Ave	0.18mi	6/2.0	2,600 (+7%)	20mo	$170,000	$65	63
118 Barton Ave #116	0.42mi	6/2.0	2,600 (+7%)	8mo	$133,750	$51	61
20 Amy Ave #18	0.59mi	6/2.0	2,600 (+7%)	8mo	$207,500	$80	54
116 Lowell Ave #118	0.47mi	6/2.0	2,600 (+7%)	15mo	$182,500	$70	54
114 Lowell Ave #112	0.46mi	5/3.0 (-1)	2,600 (+7%)	15mo	$182,500	$70	45
906 Arcadia Ave	0.72mi	6/2.0	2,248 (-7%)	12mo	$232,000	$103	44

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: 22.4%
• Equity multiple: 1.92×
• Total profit: $55,236
• Equity at exit: $32,042

10-year hold

• IRR: 30.4%
• Equity multiple: 3.72×
• Total profit: $163,954
• Equity at exit: $18,581

Cash invested: $60,172 (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: 10.3×

Monthly cashflow live

• Estimated rent: $3,480 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$118 /mo · $1,417/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$731
• Net cashflow: $1,415

Break-even live

Break-even rent $1,689

Max offer price $214,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,536	-5% $1,475	+0% $1,415	+5% $1,354	+10% $1,293
Rent	-10% $1,140	-5% $1,277	+0% $1,415	+5% $1,552	+10% $1,690
Rate	-1.0pp $1,523	-0.5pp $1,469	base $1,415	+0.5pp $1,359	+1.0pp $1,302

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,480
Total (2 units)			$3,480

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-21
   status Pending
2. 2026-04-07
   listed $214,900 Active
3. 2007-04-18
   soldstatus $123,600
4. 2002-03-18
   soldstatus $37,000

ⓘ 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: $1,417 · $118/mo
• Projected year-2 tax: $2,524 · $210/mo
• Expected delta: +$1,108/yr (+$92/mo · 78.2%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,760
• − Mortgage interest: −$12,038
• − Property taxes: −$1,417
• − Insurance: −$1,074
• − Repairs & maintenance: −$3,341
• − Management: −$3,341
• − Depreciation: −$6,252
• Taxable income: $14,298
• Est. tax owed @ 24.0%: −$3,431
• After-tax cash flow: $13,544/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): 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

+480.8% since first listed

4 events — show timeline

• 2026-04-21 Pending — WNYREIS
• 2026-04-07 Listed $214,900 WNYREIS
• 2007-04-18 Sold (Public Records) $123,600 Public Records
• 2002-03-18 Sold (Public Records) $37,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $1,417 · -33.5% YoY. Source: county tax records.