UTICA, NY look into it, or look away???

[Fraidy Deutsch]

Hi guys, i am an investor in the Westchester, NY area where I have been quite successful. I was just presented a deal in UTICA, NY a multi family property with excellent cash flow and 7.5% cap rate. Those i ask for advice from told me not to invest in upstate Ny. The numbers just add up and make sense and i can't say no without a valid reason. Can someone (with experience) please enlighten me on the real estate market in Utica, Ny?? * is the value appreciating or depreciating?? * is there substantial population?? * is there any particular reason or attraction someone would live in Utica I.E. great college, good school, or job opportunity?? * what age group are Renters?? Any and all advice is welcome and appreciated. Thanks in Advance