515 Nichols St · Utica, NY 13501

$189,900

5 bd · 3.0 ba · 2,919 sqft · MultiFamily public records · 390 Days on market

Built 1887 Fair condition $65/sqft · 42% below area Est $330k · 42% 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 +23.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• 1% rule +5.7/10.0
• Schools +4.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• Garage
• Built 1887
• Listed 389 days

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $190k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

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, 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.
• Zoned schools: Albany Elementary School (math 37% / reading 48%, grade F, #1,356 of 2,108 statewide, top 64%, 513 students, 75% FRL); John F Kennedy Middle School (math 27% / reading 35%, grade F, #534 of 729 statewide, top 73%, 695 students, 77% FRL); Thomas R Proctor High School (math 86% / reading 62%, grade B+, #659 of 1,100 statewide, top 60%, 2,675 students, 76% FRL) — zoned schools at 76% FRL track the district average.
• Zoned-school proficiency averages 49% at this address vs 36% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Utica City School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 300 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 204 units permitted in Oneida County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k 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 $53k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 390 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago 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.
• Current owner paid $110k; list at $190k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1887 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 390 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.07% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.29%
• DSCR: 1.37
• GRM: 7.8

CMA / ARV

• ARV (median comp): $329,939
• List price: $189,900
• Delta: -42.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1127 Jefferson Ave	0.51mi	5/3.0	2,544 (-13%)	1mo	$215,000	$85	54
923 Rutger St	0.25mi	6/2.0 (+1)	2,600 (-11%)	9mo	$245,500	$94	54
1141 Hilton Ave	0.66mi	6/2.0 (+1)	2,700 (-8%)	3mo	$215,000	$80	45
518 Wetmore St	0.24mi	6/2.0 (+1)	2,530 (-13%)	16mo	$201,000	$79	44
413 Tilden Ave	0.42mi	5/2.0	2,560 (-12%)	19mo	$180,000	$70	40
1020 Tilden Ave	0.46mi	6/2.0 (+1)	2,508 (-14%)	9mo	$230,000	$92	38
720 Lansing St	0.48mi	6/3.0 (+1)	2,620 (-10%)	20mo	$105,000	$40	38
518 Mary St	0.75mi	6/3.0 (+1)	2,656 (-9%)	15mo	$132,000	$50	32
1010 Morris St	0.66mi	5/2.0	2,512 (-14%)	12mo	$280,000	$111	32
805 Eagle St	0.75mi	6/2.0 (+1)	2,488 (-15%)	15mo	$145,000	$58	19

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: 30.3%
• Equity multiple: 3.38×
• Total profit: $126,813
• Equity at exit: $171,077

10-year hold

• IRR: 26.3%
• Equity multiple: 7.68×
• Total profit: $355,007
• Equity at exit: $368,934

Cash invested: $53,172 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 17 under contract
• Months of supply: 2.2 mo (44%/mo absorbed)
• Median asking: $159,900 ($61/sqft)
• Median days on market: 86 d
• This list price: 67% of active listings are priced below it
• ARV vs active asking: +84.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 13501

• Home prices YoY: 5.6%
• Active inventory: 300
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,030 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$161 /mo · $1,934/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $367

Break-even live

Break-even rent $1,565

Max offer price $189,900

Occupancy floor 77%

Sensitivity live

Price	-10% $475	-5% $421	+0% $367	+5% $314	+10% $260
Rent	-10% $207	-5% $287	+0% $367	+5% $448	+10% $528
Rate	-1.0pp $463	-0.5pp $416	base $367	+0.5pp $318	+1.0pp $268

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: $47,475
• Closing costs: $5,697
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Nichols St #403 Utica, NY	3.0	1.0	—	$1,300	—	0d	1	0.10mi
1004 Jay St Utica, NY	3.0	1.0	—	$1,200	—	184d	1	0.10mi
850 Bleecker St Unit 3 Utica, NY	4.0	1.0	—	$1,450	—	184d	1	0.23mi
1415 Bleecker St Apt 4 Utica, NY	2.0	1.0	600	$1,300	$2.17	15d	1	0.32mi
1415 Bleecker St Apt 4 Utica, NY	2.0	1.0	600	$1,300	$2.17	12d	1	0.32mi
1415 Bleecker St Apt 4 Utica, NY	2.0	1.0	600	$1,250	$2.08	0d	1	0.32mi
1324 Blandina St Utica, NY	2.0	1.0	—	$1,150	—	184d	1	0.33mi
508 Albany St Unit 2 Utica, NY	3.0	1.5	1300	$1,400	$1.08	0d	1	0.47mi
1015 White Pl Utica, NY	2.0	1.0	—	$1,700	—	184d	1	0.47mi
1017 White Pl Utica, NY	2.0	1.0	—	$1,700	—	184d	1	0.47mi
710 Blandina St Apt 2 Utica, NY	2.0	1.0	800	$1,000	$1.25	10d	1	0.48mi
744 South St Unit 1 Utica, NY	4.0	1.0	1600	$1,650	$1.03	10d	1	0.54mi
1017 Morris St Unit 2 Utica, NY	3.0	1.0	—	$1,250	—	10d	1	0.64mi
1019 Morris St #2 Utica, NY	3.0	1.0	1200	$1,500	$1.25	6d	1	0.65mi
1019 Morris St #2 Utica, NY	3.0	1.0	1200	$1,550	$1.29	2d	1	0.65mi
641 South St Unit 2nd Fl Utica, NY	2.0	1.0	—	$1,100	—	185d	1	0.67mi
807 Eagle St Utica, NY	3.0	1.0	1526	$1,300	$0.85	184d	1	0.76mi
1121 Saint Vincent St #2 Utica, NY	2.0	1.0	1000	$1,200	$1.20	17d	1	0.81mi
1121 Saint Vincent St #2 Utica, NY	2.0	1.0	1000	$1,200	$1.20	10d	1	0.81mi
421 Broad St Unit 18 Utica, NY	2.0	2.0	1750	$2,395	$1.37	51d	1	0.82mi
400 Lansing St Unit 2 Utica, NY	2.0	1.0	1700	$1,200	$0.71	10d	1	0.90mi
400 Lansing St Unit 2 Utica, NY	2.0	1.0	1700	$1,200	$0.71	51d	1	0.90mi
1010 Dudley Ave Unit 1 Utica, NY	3.0	1.0	—	$1,700	—	10d	1	0.95mi
310 Broad St Apt 205 Utica, NY	2.0	2.0	1690	$2,100	$1.24	51d	1	0.97mi
311 Main St Apt 401 Utica, NY	2.0	1.0	1204	$2,250	$1.87	10d	1	0.99mi
311 Main St Apt 302 Utica, NY	2.0	2.0	1330	$2,400	$1.80	10d	1	0.99mi
1124 Dudley Ave Unit 1 Utica, NY	3.0	1.0	1300	$1,250	$0.96	47d	1	1.04mi
221 Elizabeth St #2 Utica, NY	2.0	1.0	1100	$2,000	$1.82	185d	1	1.08mi
119 Hotel St Utica, NY	1.0–2.0	1.0–2.0	902	$2,400	$2.66	0d	13	1.14mi
171 Genesee St Utica, NY	2.0	1.0	—	$2,000	—	184d	1	1.16mi
106 Hotel St Unit 1 Utica, NY	2.0	2.0	1350	$2,000	$1.48	1d	1	1.18mi
520 Seneca St Apt 302 Utica, NY	2.0	1.0	1650	$2,395	$1.45	10d	1	1.24mi
239 Genesee St Utica, NY	1.0–2.0	1.0–2.0	1200	$2,700	$2.25	0d	15	1.28mi
1017 Park Ave Unit 2F Utica, NY	2.0	1.0	—	$1,200	—	184d	1	1.29mi

Listing history 50 events

1. 2026-11-08
   days on market $189,900 Active 390 DOM
2. 2026-11-07
   days on market $189,900 Active 389 DOM
3. 2026-11-06
   days on market $189,900 Active 388 DOM
4. 2026-11-05
   days on market $189,900 Active 387 DOM
5. 2026-11-04
   days on market $189,900 Active 386 DOM
6. 2026-11-02
   days on market $189,900 Active 384 DOM
7. 2026-11-01
   days on market $189,900 Active 383 DOM
8. 2026-10-31
   days on market $189,900 Active 382 DOM
9. 2026-10-30
   days on market $189,900 Active 381 DOM
10. 2026-10-29
    days on market $189,900 Active 380 DOM
11. 2026-10-28
    days on market $189,900 Active 379 DOM
12. 2026-10-27
    days on market $189,900 Active 378 DOM
13. 2026-10-26
    days on market $189,900 Active 377 DOM
14. 2026-10-25
    days on market $189,900 Active 376 DOM
15. 2026-10-24
    days on market $189,900 Active 375 DOM
16. 2026-10-23
    days on market $189,900 Active 374 DOM
17. 2026-10-22
    days on market $189,900 Active 373 DOM
18. 2026-10-22
    days on market $189,900 Active 372 DOM
19. 2026-10-20
    days on market $189,900 Active 371 DOM
20. 2026-10-19
    days on market $189,900 Active 370 DOM
21. 2026-10-18
    days on market $189,900 Active 369 DOM
22. 2026-10-17
    days on market $189,900 Active 368 DOM
23. 2026-10-16
    days on market $189,900 Active 367 DOM
24. 2026-10-15
    days on market $189,900 Active 366 DOM
25. 2026-10-14
    days on market $189,900 Active 365 DOM
26. 2026-10-14
    days on market $189,900 Active 364 DOM
27. 2026-10-12
    days on market $189,900 Active 363 DOM
28. 2026-10-11
    days on market $189,900 Active 362 DOM
29. 2026-10-10
    days on market $189,900 Active 361 DOM
30. 2026-10-09
    days on market $189,900 Active 360 DOM
31. 2026-10-08
    days on market $189,900 Active 359 DOM
32. 2026-10-07
    days on market $189,900 Active 358 DOM
33. 2026-10-06
    days on market $189,900 Active 357 DOM
34. 2026-10-05
    days on market $189,900 Active 356 DOM
35. 2026-10-04
    days on market $189,900 Active 355 DOM
36. 2026-10-03
    days on market $189,900 Active 354 DOM
37. 2026-10-02
    days on market $189,900 Active 353 DOM
38. 2026-10-01
    days on market $189,900 Active 352 DOM
39. 2026-09-30
    days on market $189,900 Active 351 DOM
40. 2026-09-29
    days on market $189,900 Active 350 DOM
41. 2026-09-28
    days on market $189,900 Active 349 DOM
42. 2026-09-27
    days on market $189,900 Active 348 DOM
43. 2026-09-26
    days on market $189,900 Active 347 DOM
44. 2026-09-25
    days on market $189,900 Active 346 DOM
45. 2026-09-24
    days on market $189,900 Active 345 DOM
46. 2026-09-24
    days on market $189,900 Active 344 DOM
47. 2026-09-22
    days on market $189,900 Active 343 DOM
48. 2026-09-20
    days on market $189,900 Active 341 DOM
49. 2026-09-18
    days on market $189,900 Active 339 DOM
50. 2026-09-17
    days on market $189,900 Active 338 DOM

ⓘ 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: $1,934 · $161/mo
• Projected year-2 tax: $2,572 · $214/mo
• Expected delta: +$638/yr (+$53/mo · 33.0%)

ⓘ 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 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: $24,359
• − Mortgage interest: −$10,637
• − Property taxes: −$1,934
• − Insurance: −$950
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − Depreciation: −$5,524
• Taxable income: $1,416
• Est. tax owed @ 24.0%: −$340
• After-tax cash flow: $4,070/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $72,975–$131,355 screening

This multi-family property requires significant exterior repairs and maintenance, including painting and replacing siding and roof. Fresh paint and new siding would greatly enhance its curb appeal and value.

Repairs flagged

• Major siding — Significant wear and possible damage
• Major roof — Signs of wear and possible damage

Value-add opportunities

• Both paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both repair and replace siding — New siding improves curb appeal and structural integrity ↑
• Both repair and replace roof — A new roof ensures long-term durability and protects the home ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 49/100

Zoned Schools

Elementary Albany Elementary School F NY #1,356/2,108 Nat'l #17,692/41,679 Middle John F Kennedy Middle School F NY #534/729 Nat'l #8,646/14,009 High Thomas R Proctor High School B+ NY #659/1,100 Nat'l #1,751/17,239

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

A Composite livability gradescore 80/100

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 · 225,223 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: 8% of renters

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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%

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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%
• Languages at home: 62% English-only · Other Asian/Pacific 11% Russian/Polish/Slavic 10% Spanish 9%

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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

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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

+192.6% since first listed

14 events — show timeline

• 2025-10-14 Listed $189,900 CNYIS
• 2025-10-13 Listing Removed — CNYIS
• 2025-04-14 Listed $189,900 CNYIS
• 2021-03-16 Sold (MLS) $110,000 CNYIS
• 2020-03-18 Listed $109,900 CNYIS
• 2019-04-02 Listed $120,000 CNYIS
• 2019-04-02 Listing Removed — CNYIS
• 2016-04-25 Listing Removed — CNYIS
• 2016-01-25 Listed $59,900 CNYIS
• 2009-06-30 Listing Removed — CNYIS
• 2008-08-25 Listed $69,900 CNYIS
• 2006-03-20 Sold (Public Records) $54,000 Public Records
• 2006-03-20 Sold (MLS) $54,000 CNYIS
• 2005-10-22 Listed $64,900 CNYIS

Property tax history

+4.0%/yr

Latest (2025): $1,934 · -28.3% YoY. Source: county tax records.