108 Wells Pl · Utica, NY 13502

$159,900

2 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 273 Days on market

Built 1920 8,000 sqft lot $130/sqft · 28% below area Est $222k · 28% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +4.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 108 Wells Place, a wonderful opportunity to own a classic home in the heart of Utica. Offering 1,232 square feet of living space, this 2-bedroom, 1-bathroom residence combines character, convenience, and potential, making it an excellent choice for first-time buyers, growing families, or anyone looking to invest in a solid home with room to personalize. Step inside and you’ll find a spacious layout designed for comfortable everyday living. The living room is warm and inviting, anchored by a charming brick fireplace that creates a perfect focal point for gatherings and relaxation. Just off the living room, a bright dining area with hardwood floors is ready to host family dinners or cozy evenings with friends. The kitchen provides plenty of cabinet space and a functional layout that can easily be updated to reflect your personal style. Upstairs, two well-proportioned bedrooms offer comfortable retreats, each with unique character and natural light. The full bathroom is conveniently located and provides everything you need with space for future updates if desired. A full basement adds even more utility, ideal for storage, a workshop, or future finishing. Outside, the property continues to impress. The private backyard is shaded by mature trees and enclosed for added peace of mind, offering the perfect setting for outdoor entertaining, barbecues, or simply enjoying the seasons in Upstate New York. The one-stall garage and paved driveway provide easy off-street parking and additional storage for vehicles, tools, or recreational equipment. Situated in a convenient neighborhood close to schools, shopping, restaurants, and local parks, this home offers a balance of privacy and accessibility. Whether you’re commuting for work, running errands, or enjoying nearby community amenities, you’ll love the ease of this location. 108 Wells Place is more than just a house—it’s a place where you can put down roots, add your own finishing touches, and create a home filled with warmth and memories. With charm, functionality, and value all wrapped into one, this property won’t last long

Key facts

• Brick fireplace
• One-stall garage
• Private backyard

Tags

• BRICK FIREPLACE
• HARDWOOD FLOORS
• PRIVATE BACKYARD
• MATURE TREES
• FULL BASEMENT
• ONE-STALL GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).
• This rent runs 44% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 273 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 29y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $160k implies a 89% 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 $140,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 273 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 1920 — 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.25%
• DSCR: 1.77
• GRM: 6.2

CMA / ARV

• ARV (median comp): $222,432
• List price: $159,900
• Delta: -28.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 Coolidge Rd	0.29mi	3/2.0 (+1)	1,248 (+1%)	1mo	$196,000	$157	74
411 Van Roen Rd	0.59mi	2/1.0	1,250 (+2%)	1mo	$195,000	$156	69
450 Coventry Ave	0.40mi	2/1.0	1,224 (-1%)	13mo	$181,900	$149	69
704 Dawes Ave	0.50mi	3/2.0 (+1)	1,224 (-1%)	5mo	$110,000	$90	63
409 Cosby Rd	0.48mi	3/1.0 (+1)	1,146 (-7%)	2mo	$212,500	$185	59
405 Van Roen Rd	0.62mi	2/2.0	1,152 (-6%)	8mo	$250,000	$217	50
711 Wilbain Dr E	0.59mi	2/2.0	1,152 (-6%)	10mo	$189,000	$164	50
706 Dawes Ave	0.51mi	3/1.0 (+1)	1,098 (-11%)	10mo	$200,000	$182	44
619 Cosby Rd	0.61mi	3/1.0 (+1)	1,132 (-8%)	10mo	$185,000	$163	44
415 Van Dyke Rd	0.67mi	3/1.0 (+1)	1,328 (+8%)	9mo	$210,000	$158	44
705 Dawes Ave	0.51mi	3/1.0 (+1)	1,074 (-13%)	10mo	$175,900	$164	41
617 Cosby Rd	0.60mi	3/2.0 (+1)	1,384 (+12%)	3mo	$259,000	$187	40

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: 8.6%
• Equity multiple: 1.34×
• Total profit: $15,067
• Equity at exit: $23,842

10-year hold

• IRR: 17.8%
• Equity multiple: 2.47×
• Total profit: $65,870
• Equity at exit: $13,825

Cash invested: $44,772 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,136 high
• Mortgage (P&I): −$839
• Tax from tax record: −$139 /mo · $1,665/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $643

Break-even live

Break-even rent $1,321

Max offer price $159,900

Occupancy floor 65%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Patriot Cir Utica, NY	1.0–2.0	1.0–2.5	1451	$3,115	$2.15	43d	6	0.36mi
119 Hotel St Utica, NY	1.0–2.0	1.0–2.0	1053	$2,300	$2.18	43d	14	1.14mi
221 Elizabeth St #2 Utica, NY	2.0	1.0	1100	$2,000	$1.82	44d	1	1.36mi
221 Elizabeth St Unit 1 Utica, NY	1.0	1.0	950	$1,500	$1.58	43d	1	1.36mi
230 Genesee St Utica, NY	1.0	1.0	850	$1,600	$1.88	43d	1	1.48mi

Listing history 28 events

1. 2026-06-19
   days on market $159,900 Active 273 DOM
2. 2026-06-18
   days on market $159,900 Active 272 DOM
3. 2026-06-17
   days on market $159,900 Active 271 DOM
4. 2026-06-16
   days on market $159,900 Active 270 DOM
5. 2026-06-15
   days on market $159,900 Active 269 DOM
6. 2026-06-14
   days on market $159,900 Active 267 DOM
7. 2026-06-13
   days on market $159,900 Active 266 DOM
8. 2026-06-10
   days on market $159,900 Active 264 DOM
9. 2026-06-09
   days on market $159,900 Active 263 DOM
10. 2026-06-08
    days on market $159,900 Active 262 DOM
11. 2026-06-07
    days on market $159,900 Active 261 DOM
12. 2026-06-03
    days on market $159,900 Active 257 DOM
13. 2026-06-02
    days on market $159,900 Active 256 DOM
14. 2026-06-01
    days on market $159,900 Active 255 DOM
15. 2026-05-31
    days on market $159,900 Active 254 DOM
16. 2026-05-30
    days on market $159,900 Active 253 DOM
17. 2025-11-13
    price $164,900 2147-char remark

    Show marketing remark (2147 chars)

    Welcome to 108 Wells Place, a wonderful opportunity to own a classic home in the heart of Utica. Offering 1,232 square feet of living space, this 2-bedroom, 1-bathroom residence combines character, convenience, and potential, making it an excellent choice for first-time buyers, growing families, or anyone looking to invest in a solid home with room to personalize. Step inside and you’ll find a spacious layout designed for comfortable everyday living. The living room is warm and inviting, anchored by a charming brick fireplace that creates a perfect focal point for gatherings and relaxation. Just off the living room, a bright dining area with hardwood floors is ready to host family dinners or cozy evenings with friends. The kitchen provides plenty of cabinet space and a functional layout that can easily be updated to reflect your personal style. Upstairs, two well-proportioned bedrooms offer comfortable retreats, each with unique character and natural light. The full bathroom is conveniently located and provides everything you need with space for future updates if desired. A full basement adds even more utility, ideal for storage, a workshop, or future finishing. Outside, the property continues to impress. The private backyard is shaded by mature trees and enclosed for added peace of mind, offering the perfect setting for outdoor entertaining, barbecues, or simply enjoying the seasons in Upstate New York. The one-stall garage and paved driveway provide easy off-street parking and additional storage for vehicles, tools, or recreational equipment. Situated in a convenient neighborhood close to schools, shopping, restaurants, and local parks, this home offers a balance of privacy and accessibility. Whether you’re commuting for work, running errands, or enjoying nearby community amenities, you’ll love the ease of this location. 108 Wells Place is more than just a house—it’s a place where you can put down roots, add your own finishing touches, and create a home filled with warmth and memories. With charm, functionality, and value all wrapped into one, this property won’t last long

18. 2025-10-13
    price $172,400 2147-char remark

    Show marketing remark (2147 chars)

    Welcome to 108 Wells Place, a wonderful opportunity to own a classic home in the heart of Utica. Offering 1,232 square feet of living space, this 2-bedroom, 1-bathroom residence combines character, convenience, and potential, making it an excellent choice for first-time buyers, growing families, or anyone looking to invest in a solid home with room to personalize. Step inside and you’ll find a spacious layout designed for comfortable everyday living. The living room is warm and inviting, anchored by a charming brick fireplace that creates a perfect focal point for gatherings and relaxation. Just off the living room, a bright dining area with hardwood floors is ready to host family dinners or cozy evenings with friends. The kitchen provides plenty of cabinet space and a functional layout that can easily be updated to reflect your personal style. Upstairs, two well-proportioned bedrooms offer comfortable retreats, each with unique character and natural light. The full bathroom is conveniently located and provides everything you need with space for future updates if desired. A full basement adds even more utility, ideal for storage, a workshop, or future finishing. Outside, the property continues to impress. The private backyard is shaded by mature trees and enclosed for added peace of mind, offering the perfect setting for outdoor entertaining, barbecues, or simply enjoying the seasons in Upstate New York. The one-stall garage and paved driveway provide easy off-street parking and additional storage for vehicles, tools, or recreational equipment. Situated in a convenient neighborhood close to schools, shopping, restaurants, and local parks, this home offers a balance of privacy and accessibility. Whether you’re commuting for work, running errands, or enjoying nearby community amenities, you’ll love the ease of this location. 108 Wells Place is more than just a house—it’s a place where you can put down roots, add your own finishing touches, and create a home filled with warmth and memories. With charm, functionality, and value all wrapped into one, this property won’t last long

19. 2025-09-19
    listed $179,900 Active 2147-char remark

    Show marketing remark (2147 chars)

    Welcome to 108 Wells Place, a wonderful opportunity to own a classic home in the heart of Utica. Offering 1,232 square feet of living space, this 2-bedroom, 1-bathroom residence combines character, convenience, and potential, making it an excellent choice for first-time buyers, growing families, or anyone looking to invest in a solid home with room to personalize. Step inside and you’ll find a spacious layout designed for comfortable everyday living. The living room is warm and inviting, anchored by a charming brick fireplace that creates a perfect focal point for gatherings and relaxation. Just off the living room, a bright dining area with hardwood floors is ready to host family dinners or cozy evenings with friends. The kitchen provides plenty of cabinet space and a functional layout that can easily be updated to reflect your personal style. Upstairs, two well-proportioned bedrooms offer comfortable retreats, each with unique character and natural light. The full bathroom is conveniently located and provides everything you need with space for future updates if desired. A full basement adds even more utility, ideal for storage, a workshop, or future finishing. Outside, the property continues to impress. The private backyard is shaded by mature trees and enclosed for added peace of mind, offering the perfect setting for outdoor entertaining, barbecues, or simply enjoying the seasons in Upstate New York. The one-stall garage and paved driveway provide easy off-street parking and additional storage for vehicles, tools, or recreational equipment. Situated in a convenient neighborhood close to schools, shopping, restaurants, and local parks, this home offers a balance of privacy and accessibility. Whether you’re commuting for work, running errands, or enjoying nearby community amenities, you’ll love the ease of this location. 108 Wells Place is more than just a house—it’s a place where you can put down roots, add your own finishing touches, and create a home filled with warmth and memories. With charm, functionality, and value all wrapped into one, this property won’t last long

20. 2018-05-21
    soldstatus $84,800 422-char remark

    Show marketing remark (422 chars)

    PRIDE OF OWNERSHIP SHOWS in this Well Maintained Single Family Home on a Dead End Street. Features 2 Bedrooms, 1 Bath, Formal Dining Room, Living Room with Gas Fireplace, Large Mud Room and Hardwoods Throughout. Additional Room on the First Floor is a Great Space for an Office or Play Room. Deep Lot with Invisible Fence gives Fido lots of Space to Romp and Play! Recently Sealed Driveway Leads to a Large 2 Stall Garage!

21. 2018-01-29
    listed $84,500 422-char remark

    Show marketing remark (422 chars)

    PRIDE OF OWNERSHIP SHOWS in this Well Maintained Single Family Home on a Dead End Street. Features 2 Bedrooms, 1 Bath, Formal Dining Room, Living Room with Gas Fireplace, Large Mud Room and Hardwoods Throughout. Additional Room on the First Floor is a Great Space for an Office or Play Room. Deep Lot with Invisible Fence gives Fido lots of Space to Romp and Play! Recently Sealed Driveway Leads to a Large 2 Stall Garage!

22. 2017-09-07
    listed $89,900
23. 2007-01-18
    soldstatus $70,000
24. 2007-01-17
    soldstatus $70,000
25. 2006-11-02
    listed $74,900
26. 1998-08-25
    soldstatus $35,700
27. 1998-08-25
    soldstatus $35,700
28. 1997-10-01
    listed $39,000

ⓘ 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: $1,665 · $139/mo
• Projected year-2 tax: $2,184 · $182/mo
• Expected delta: +$519/yr (+$43/mo · 31.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $25,631
• − Mortgage interest: −$8,957
• − Property taxes: −$1,665
• − Insurance: −$800
• − Repairs & maintenance: −$2,050
• − Management: −$2,050
• − Depreciation: −$4,652
• Taxable income: $5,457
• Est. tax owed @ 24.0%: −$1,310
• After-tax cash flow: $6,412/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

+322.8% since first listed

12 events — show timeline

• 2025-11-13 Price Changed $164,900 CNYIS
• 2025-10-13 Price Changed $172,400 CNYIS
• 2025-09-19 Listed $179,900 CNYIS
• 2018-05-21 Sold (MLS) $84,800 CNYIS
• 2018-01-29 Listed $84,500 CNYIS
• 2017-09-07 Listed $89,900 CNYIS
• 2007-01-18 Sold (Public Records) $70,000 Public Records
• 2007-01-17 Sold (MLS) $70,000 CNYIS
• 2006-11-02 Listed $74,900 CNYIS
• 1998-08-25 Sold (Public Records) $35,700 Public Records
• 1998-08-25 Sold (MLS) $35,700 CNYIS
• 1997-10-01 Listed $39,000 CNYIS

Property tax history

+4.0%/yr

Latest (2025): $1,665 · +5.6% YoY. Source: county tax records.