12 Wheeler Ave · Hammondsport, NY 14840

$215,000

3 bd · 1.5 ba · 819 sqft · SingleFamily public records · 13 Days on market

Built 1915 3,049 sqft lot $263/sqft · 14% below area Est $249k · 14% under

---

Why this score? — see what drove the D 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).

• ARV discount +13.6/15.0
• Appreciation +7.6/10.0
• Cash flow +6.4/30.0
• Schools +5.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +0.7/10.0

Listing remarks MLS

A rare gem! An original Curtiss house updated and move-in ready on a quiet neighborhood street in Hammondsport. Updates include a gorgeous kitchen with red birch cabinets, quartz countertops & stainless steel appliances, including a gas range & Bosch dishwasher. Brand new bathroom. The refinished original yellow pine flooring in the great room and bedrooms keeps the original charm. The new engineered tile in the kitchen and bath is beautiful. New roof, gutters in 2016, new 200 amp electric panel & service. The 3 season enclosed front and back porches add an additional 276 sq ft of space for entertaining.

Key facts

• Custom cabinetry
• Stylish backsplash
• Stainless appliances

Tags

• ENCLOSED FRONT PORCH
• UPDATED KITCHEN
• CUSTOM CABINETRY
• STAINLESS APPLIANCES
• STYLISH BACKSPLASH
• FENCED IN BACK YARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story; Existing structure; Vinyl siding
• Construction: Block foundation
• Exterior features: Dirt driveway; City street frontage; Rectangular residential lot (40 x 78)

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator
• Bedrooms: Rooms include laundry, sunroom, Florida room
• Flooring: Ceramic tile; Hardwood; Varies
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Breakfast bar; Eat-in kitchen; Quartz counters; Sunroom / Florida room; Dirt floor basement; Has fireplace (1)
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-372 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (30.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (31.1% below list).
• Recommended offer: $148k (31.1% below list) — sets the bar for 1% rule.
• Cap rate 4.2% vs local median 1.1% in Hammondsport — 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 71/100 on livability (#382 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime F, amenities F, commute F.
• Hammondsport Central School District (rural): math 61% / reading 55% proficiency, ranked #305 of 755 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Glenn H Curtiss Memorial School (math 57% / reading 67%, grade B, #675 of 2,108 statewide, top 35%, 209 students, 48% FRL); Hammondsport Junior-Senior High School (math 62% / reading 72%, grade B, #746 of 1,100 statewide, top 69%, 169 students, 42% FRL).
• Market conditions: 44 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $11k appreciation (5.2% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 11y ago; this cycle's ask is 99900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $139k; list at $215k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,087 (31.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.69% ✗
• Cap rate: 4.22%
• Cash-on-cash: -7.41%
• DSCR: 0.67
• GRM: 12.1

CMA / ARV

• ARV (median comp): $248,728
• List price: $215,000
• Delta: -13.56%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

5.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.47×
• Total profit: $28,422
• Equity at exit: $124,494

10-year hold

• IRR: 9.2%
• Equity multiple: 2.75×
• Total profit: $105,406
• Equity at exit: $217,089

Cash invested: $60,200 (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 14840

• Home prices YoY: 1.8%
• Active inventory: 44
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,481 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$325 /mo · $3,897/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-372

Break-even live

Break-even rent $1,952

Max offer price $149,303

Occupancy floor —

Sensitivity live

Price	-10% $-250	-5% $-311	+0% $-372	+5% $-433	+10% $-494
Rent	-10% $-489	-5% $-430	+0% $-372	+5% $-313	+10% $-255
Rate	-1.0pp $-264	-0.5pp $-317	base $-372	+0.5pp $-428	+1.0pp $-484

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-07
   status Pending 902-char remark
2. 2026-04-24
   price $215,000 902-char remark
3. 2026-04-24
   listed $215 Active 902-char remark
4. 2018-10-22
   soldstatus $138,900 629-char remark

   Show marketing remark (629 chars)

   A rare gem! An original Curtiss house updated and move-in ready on a quiet neighborhood street in Hammondsport. Updates include a gorgeous kitchen with red birch cabinets, quartz countertops & stainless steel appliances, including a gas range & Bosch dishwasher. Brand new bathroom. The refinished original yellow pine flooring in the great room and bedrooms keeps the original charm. The new engineered tile in the kitchen and bath is beautiful. New roof, gutters in 2016, new 200 amp electric panel & service. The 3 season enclosed front and back porches add an additional 276 sq ft of space for entertaining.

5. 2018-10-22
   soldstatus $138,900

   Show marketing remark (629 chars)

   A rare gem! An original Curtiss house updated and move-in ready on a quiet neighborhood street in Hammondsport. Updates include a gorgeous kitchen with red birch cabinets, quartz countertops & stainless steel appliances, including a gas range & Bosch dishwasher. Brand new bathroom. The refinished original yellow pine flooring in the great room and bedrooms keeps the original charm. The new engineered tile in the kitchen and bath is beautiful. New roof, gutters in 2016, new 200 amp electric panel & service. The 3 season enclosed front and back porches add an additional 276 sq ft of space for entertaining.

6. 2018-10-22
   soldstatus $138,900

   Show marketing remark (629 chars)

   A rare gem! An original Curtiss house updated and move-in ready on a quiet neighborhood street in Hammondsport. Updates include a gorgeous kitchen with red birch cabinets, quartz countertops & stainless steel appliances, including a gas range & Bosch dishwasher. Brand new bathroom. The refinished original yellow pine flooring in the great room and bedrooms keeps the original charm. The new engineered tile in the kitchen and bath is beautiful. New roof, gutters in 2016, new 200 amp electric panel & service. The 3 season enclosed front and back porches add an additional 276 sq ft of space for entertaining.

7. 2018-06-20
   listed $139,900 629-char remark

   Show marketing remark (629 chars)

   A rare gem! An original Curtiss house updated and move-in ready on a quiet neighborhood street in Hammondsport. Updates include a gorgeous kitchen with red birch cabinets, quartz countertops & stainless steel appliances, including a gas range & Bosch dishwasher. Brand new bathroom. The refinished original yellow pine flooring in the great room and bedrooms keeps the original charm. The new engineered tile in the kitchen and bath is beautiful. New roof, gutters in 2016, new 200 amp electric panel & service. The 3 season enclosed front and back porches add an additional 276 sq ft of space for entertaining.

8. 2018-06-20
   listed $139,900

   Show marketing remark (629 chars)

   A rare gem! An original Curtiss house updated and move-in ready on a quiet neighborhood street in Hammondsport. Updates include a gorgeous kitchen with red birch cabinets, quartz countertops & stainless steel appliances, including a gas range & Bosch dishwasher. Brand new bathroom. The refinished original yellow pine flooring in the great room and bedrooms keeps the original charm. The new engineered tile in the kitchen and bath is beautiful. New roof, gutters in 2016, new 200 amp electric panel & service. The 3 season enclosed front and back porches add an additional 276 sq ft of space for entertaining.

9. 2016-05-25
   soldstatus $56,000
10. 2016-05-24
    soldstatus $56,000
11. 2016-05-24
    soldstatus $56,000
12. 2015-10-25
    listed $59,000
13. 2015-10-25
    listed $59,000

ⓘ 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: $3,897 · $325/mo
• Projected year-2 tax: $3,897 · $325/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,770
• − Mortgage interest: −$12,043
• − Property taxes: −$3,897
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,422
• − Management: −$1,422
• − Depreciation: −$6,255
• Taxable loss: −$8,342
• Est. tax savings @ 24.0%: +$2,002
• After-tax cash flow: $-2,461/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: Hammondsport Central School District
• NCES district ID: 3613470
• Math proficiency: 61% ▲ 4.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $51,927
• Composite: 51.3/100
• National rank: #3724
• State rank: #305 of 755 in NY

Livability — Hammondsport

• Score: 71/100
• State rank: #382
• US rank: #6571

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammondsport, NY
• Population (ZIP): 2,514

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 93,062 people
• By 2030: 89,793 · -3.5%
• By 2040: 82,353 · -11.5%
• By 2050: 74,286 · -20.2%
• By 2075: 55,589 · -40.3%
• By 2100: 37,587 · -59.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Lithuanian 5% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+31.8) · D 34.1% · R 65.9%
• 2008→2024 swing: -15.0pp toward R · 2008: -16.8pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+29.6 2016: R+36.2 2012: R+16.4 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.20%
• Current HPI: 287.3925
• Rent YoY: —
• Metro: —
• 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

+264.4% since first listed

15 events — show timeline

• 2026-06-05 Listed — GBAOR
• 2026-05-07 Pending — UNYREIS
• 2026-04-24 Price Changed $215,000 UNYREIS
• 2026-04-24 Listed $215 UNYREIS
• 2026-04-24 Listed $215,000 GBAOR
• 2018-10-22 Sold (Public Records) $138,900 Public Records
• 2018-10-22 Sold (MLS) $138,900 UNYREIS
• 2018-10-22 Sold (MLS) $138,900 UNYREIS
• 2018-06-20 Listed $139,900 UNYREIS
• 2018-06-20 Listed $139,900 UNYREIS
• 2016-05-25 Sold (Public Records) $56,000 Public Records
• 2016-05-24 Sold (MLS) $56,000 UNYREIS
• 2016-05-24 Sold (MLS) $56,000 UNYREIS
• 2015-10-25 Listed $59,000 UNYREIS
• 2015-10-25 Listed $59,000 UNYREIS

Property tax history

+7.1%/yr

Latest (2025): $3,897 · +4.4% YoY. Source: county tax records.