28 E Utica St · Oswego, NY 13126

$209,000

6 bd · 3.0 ba · 2,646 sqft · MultiFamily · 28 Days on market

Built 1900 Good condition 871 sqft lot Est $161k · 29% 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
• Rent growth +5.0/5.0
• Condition / age +4.0/5.0
• Appreciation +3.9/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• 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

Welcome to the East side of Oswego, where you will find this very well kept duplex, offering a great opportunity for both investors or owner occupants! The upstairs 2-bedroom apartment is currently occupied at $1,100/month plus utilities and features a newer furnace. The downstairs/main level unit was completely remodeled approximately 1.5 years ago and offers a spacious 1-bedroom layout with 1.5 baths, in-unit laundry, and mini splits throughout for added comfort and efficiency. This unit was previously rented for $1,600/month with everything included, with utility costs averaging roughly $250-$350/month. Both units have separate utilities. Whether you’re looking to add to your portf

Key facts

• Move-in ready
• Separate utilities
• Newer furnace

Tags

• NEWER FURNACE
• COMPLETELY REMODELED
• IN-UNIT LAUNDRY
• MINI SPLITS
• SEPARATE UTILITIES
• MOVE-IN READY

Property features AI

Finance

• Other: Two separate gas meters and two separate electric meters (separate utilities for units)
• Financial info: Owner pays snow removal, trash collection and water; Operating expenses may include insurance, licenses, trash and water/sewer

Exterior

• Parking: Paved parking with two or more spaces
• Utilities: Public water connected; Sewer connected; Electric service with fuses
• Home design: 2-story multi-family property (2 units); Resale property
• Construction: Vinyl siding; Asphalt roof; Stone foundation; Existing (previously built) structure
• Exterior features: Corner, rectangular lot on a main thoroughfare

Interior

• Kitchen: Oven/range and refrigerator in one unit; Oven/range and refrigerator plus eat-in kitchen in the other unit; Dishwasher in one unit
• Bedrooms: One unit with 2 bedrooms; One unit with 1 bedroom
• Flooring: Carpet; Laminate; Luxury vinyl; Varies by area
• Bathrooms: Two full bathrooms and one half bathroom total; Unit 1: 1 full bathroom; Unit 2: 1 full bathroom and 1 half bathroom
• Heating & cooling: Ductless cooling; Ductless and forced air heating; Gas heating; Electric and gas water heaters
• Interior features: Carpet, laminate, luxury vinyl and varying flooring throughout; Other features — see remarks
• Laundry & utility: Washer and dryer in one unit; Laundry in unit

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $209k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $763/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $209k).
• Recommended offer: $206k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 8.8% in Oswego — 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 75/100 on livability (#265 in NY, #4,189 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime F, commute F.
• Oswego City School District (town): math 39% / reading 51% proficiency, ranked #465 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+19.2%/yr); 168 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 172 units permitted in Oswego County in 2024 (27 in 5+ unit buildings).
• At $3,759/mo this rent would consume 69% of the median local household income ($65k/yr) (locally 1341% 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 (-2.2%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Oswego County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.2% appreciation + 8.0% rent growth), your $59k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($206k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $205,865 (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 1900 — 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: 1.80% ✓
• Cap rate: 15.05%
• Cash-on-cash: 31.28%
• DSCR: 2.39
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $161,406
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
148 E 2nd St	0.10mi	5/2.0 (-1)	2,534 (-4%)	0mo	$50,000	$20	79
177 E 7th St	0.31mi	6/2.0	2,966 (+12%)	5mo	$194,700	$66	57
103 E 7th St	0.34mi	6/2.0	2,438 (-8%)	13mo	$148,000	$61	56
306 W 3rd St	0.58mi	6/2.0	2,508 (-5%)	11mo	$163,000	$65	51
231 Duer St	0.46mi	6/2.0	2,804 (+6%)	18mo	$138,000	$49	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.25% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 32.9%
• Equity multiple: 2.53×
• Total profit: $89,800
• Equity at exit: $38,184

10-year hold

• IRR: 41.7%
• Equity multiple: 6.12×
• Total profit: $299,742
• Equity at exit: $30,366

Cash invested: $58,520 (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 13126

• Home prices YoY: -0.8%
• Rents YoY: 19.2%
• Active inventory: 168
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,759 high
• Mortgage (P&I): −$1,096
• Tax est. 1.5%: −$261 /mo · $3,135/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$789
• Net cashflow: $1,525

Break-even live

Break-even rent $1,828

Max offer price $209,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,670	-5% $1,597	+0% $1,525	+5% $1,453	+10% $1,381
Rent	-10% $1,228	-5% $1,377	+0% $1,525	+5% $1,674	+10% $1,822
Rate	-1.0pp $1,631	-0.5pp $1,578	base $1,525	+0.5pp $1,471	+1.0pp $1,416

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,760
Total (2 units)			$3,759

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 W 8th St Unit 1 A Oswego, NY	5.0	2.0	1800	$2,625	$1.46	45d	1	0.67mi
137 W Mohawk St Oswego, NY	5.0	2.5	1904	$2,875	$1.51	45d	1	0.83mi

Listing history 14 events

1. 2026-06-18
   days on market $209,000 Active 28 DOM
2. 2026-06-17
   days on market $209,000 Active 27 DOM
3. 2026-06-16
   days on market $209,000 Active 26 DOM
4. 2026-06-15
   days on market $209,000 Active 25 DOM
5. 2026-06-14
   days on market $209,000 Active 23 DOM
6. 2026-06-13
   days on market $209,000 Active 22 DOM
7. 2026-06-10
   days on market $209,000 Active 20 DOM
8. 2026-06-08
   days on market $209,000 Active 18 DOM
9. 2026-06-07
   days on market $209,000 Active 17 DOM
10. 2026-06-02
    days on market $209,000 Active 12 DOM
11. 2026-06-01
    days on market $209,000 Active 11 DOM
12. 2026-05-31
    days on market $209,000 Active 10 DOM
13. 2026-05-30
    days on market $209,000 Active 9 DOM
14. 2026-05-21
    listed $209,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $45,108
• − Mortgage interest: −$11,707
• − Property taxes: −$3,135
• − Insurance: −$1,045
• − Repairs & maintenance: −$3,609
• − Management: −$3,609
• − Depreciation: −$6,080
• Taxable income: $15,923
• Est. tax owed @ 24.0%: −$3,822
• After-tax cash flow: $14,481/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 · 4 photos

Good 80/100 Cosmetic rehab

This well-maintained and recently remodeled duplex is ready for investors or owner-occupants. It offers two units with separate utilities, each in good condition, and is located in a desirable area of Oswego.

Value-add opportunities

• Both Paint exterior — Painting the exterior can enhance curb appeal and increase both resale and rental value.
• Both Clean windows — Clean windows can improve natural light and increase the home's appeal, benefiting both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Painting the exterior can enhance curb appeal and increase both resale and rental value. ↑
• Both Clean windows — Clean windows can improve natural light and increase the home's appeal, benefiting both resale and rental 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: Oswego City School District
• NCES district ID: 3622050
• Math proficiency: 39% ▼ -7.00%
• Reading proficiency: 51% ▲ 9.00%
• Median HH income: $45,835
• Composite: 38.2/100
• National rank: #4257
• State rank: #465 of 590 in NY

Livability — Oswego

• Score: 75/100
• State rank: #265
• US rank: #4189

Category grades

Amenities B+ Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oswego, NY
• County: Oswego County · 36,495 people
• City population: 36,495
• Metro: Syracuse, NY
• Population (ZIP): 36,495
• Household income: $65,346
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 1341.0

Population outlook (Oswego County) Hauer SSP2

• Today (2025): 114,465 people
• By 2030: 109,968 · -3.9%
• By 2040: 99,205 · -13.3%
• By 2050: 87,979 · -23.1%
• By 2075: 65,100 · -43.1%
• By 2100: 47,117 · -58.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 5% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 6% Lithuanian 4% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Oswego

• 2024 margin: Strong R (+24.2) · D 37.9% · R 62.1%
• 2008→2024 swing: -26.6pp toward R · 2008: 2.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+20.2 2016: R+23.2 2012: D+7.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.25%
• Current HPI: 295.5134
• Rent YoY: ▲ 19.18%
• Metro: Syracuse, 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

1 event — show timeline

• 2026-05-21 Listed $209,000 CNYIS