240 Plum Point Rd #13 · Dundee, NY 14842

$319,000

3 bd · 2.0 ba · 1,260 sqft · SingleFamily · 70 Days on market

Built 2022 7.50 ac lot $253/sqft · 50% below area Est $635k · 50% under ↓ 9% since listing

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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 +15.0/15.0
• Appreciation +10.0/10.0
• Schools +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.2/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Rare Opportunity for Year-Round Lakefront Living on Seneca Lake. Discover the lifestyle you’ve been dreaming of at The Cottages at Plum Point- an exclusive lakefront enclave nestled along Seneca Lake’s coveted western shore. Enjoy 152 feet of private, level shoreline and your own dedicated dock slip, ideal for sunset cruises and lakeside leisure. These move-in-ready homes feature three bedrooms, two full baths, and bright, open-concept layouts that maximize natural light and create a warm, welcoming atmosphere. High-quality finishes and lake-inspired design elements make each space feel like a true sanctuary. Residents enjoy access to a thoughtfully curated suite of amenities, including Waterfront fire pit, gazebo, and picnic area, Kayaks for exploring the lake, Fenced dog park, Community gardens area. Ownership is effortless thanks to a comprehensive HOA that covers land taxes, water, sewer, lawn care, snow removal, and trash service. Just a short stroll from Plum Point Lodge and its acclaimed restaurant, this community offers both convenience and charm. Plus, with approval for year-round short-term rentals (Airbnb/VRBO), these cottages present an exceptional opportunity for personal enjoyment and income potential. Ideally located near award-winning wineries, Watkins Glen, and the heart of the Finger Lakes. Lot rent of $900/month includes: Lot lease, HOA fees, and Dedicated boat slip.

Key facts

• Waterfront fire pit
• Picnic area
• Gazebo

Tags

• YEAR-ROUND LAKEFRONT LIVING
• PRIVATE LEVEL SHORELINE
• DEDICATED DOCK SLIP
• WATERFRONT FIRE PIT
• GAZEBO
• PICNIC AREA

🏷️ Possibly a rental listed for sale. The $319,000 price doesn't fit this home's estimated sale value (~$634,713) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $319k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (58.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (64.0% below list).
• Recommended offer: $115k (64.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#576 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools C-, employment D+, health & safety D.
• Dundee Central School District (rural): math 42% / reading 53% proficiency, ranked #431 of 590 in NY (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 107 units permitted in Yates County in 2024 (8 in 5+ unit buildings).

Forward outlook

• In year one you build about $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Yates County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Recommended offer $114,896 (64.0% 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. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 64% concession, seller financing, or rate buy-down credit?
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. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.36% ✗
• Cap rate: 1.41%
• Cash-on-cash: -17.42%
• DSCR: 0.22
• GRM: 23.1

CMA / ARV

• ARV (median comp): $634,713
• List price: $319,000
• Delta: -49.74%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 2.02×
• Total profit: $91,156
• Equity at exit: $287,380

10-year hold

• IRR: 12.8%
• Equity multiple: 4.73×
• Total profit: $333,427
• Equity at exit: $619,747

Cash invested: $89,320 (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 14842

• Home prices YoY: 3.2%
• Active inventory: 7
• Price-to-rent: 23.1×

Monthly cashflow live

• Estimated rent: $1,149 medium
• Mortgage (P&I): −$1,673
• Tax est. 1.5%: −$399 /mo · $4,785/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-1,297

Break-even live

Break-even rent $2,791

Max offer price $131,342

Occupancy floor —

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $319,000 Active 70 DOM
2. 2026-06-17
   days on market $319,000 Active 69 DOM
3. 2026-06-16
   days on market $319,000 Active 68 DOM
4. 2026-06-15
   days on market $319,000 Active 67 DOM
5. 2026-06-13
   days on market $319,000 Active 65 DOM
6. 2026-06-12
   days on market $319,000 Active 64 DOM
7. 2026-06-09
   days on market $319,000 Active 61 DOM
8. 2026-06-08
   days on market $319,000 Active 60 DOM
9. 2026-06-07
   days on market $319,000 Active 59 DOM
10. 2026-06-07
    days on market $319,000 Active 58 DOM
11. 2026-06-04
    days on market $319,000 Active 55 DOM
12. 2026-06-02
    days on market $319,000 Active 54 DOM
13. 2026-06-01
    days on market $319,000 Active 53 DOM
14. 2026-05-31
    days on market $319,000 Active 52 DOM
15. 2026-04-09
    listed $319,000 Active 1420-char remark

    Show marketing remark (1420 chars)

    Rare Opportunity for Year-Round Lakefront Living on Seneca Lake. Discover the lifestyle you’ve been dreaming of at The Cottages at Plum Point- an exclusive lakefront enclave nestled along Seneca Lake’s coveted western shore. Enjoy 152 feet of private, level shoreline and your own dedicated dock slip, ideal for sunset cruises and lakeside leisure. These move-in-ready homes feature three bedrooms, two full baths, and bright, open-concept layouts that maximize natural light and create a warm, welcoming atmosphere. High-quality finishes and lake-inspired design elements make each space feel like a true sanctuary. Residents enjoy access to a thoughtfully curated suite of amenities, including Waterfront fire pit, gazebo, and picnic area, Kayaks for exploring the lake, Fenced dog park, Community gardens area. Ownership is effortless thanks to a comprehensive HOA that covers land taxes, water, sewer, lawn care, snow removal, and trash service. Just a short stroll from Plum Point Lodge and its acclaimed restaurant, this community offers both convenience and charm. Plus, with approval for year-round short-term rentals (Airbnb/VRBO), these cottages present an exceptional opportunity for personal enjoyment and income potential. Ideally located near award-winning wineries, Watkins Glen, and the heart of the Finger Lakes. Lot rent of $900/month includes: Lot lease, HOA fees, and Dedicated boat slip.

16. 2024-08-27
    historical
17. 2024-08-01
    status Active
18. 2024-03-21
    listed $349,500 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: $13,788
• − Mortgage interest: −$17,869
• − Property taxes: −$4,785
• − Insurance: −$1,595
• − Repairs & maintenance: −$1,103
• − Management: −$1,103
• − Depreciation: −$9,280
• Taxable loss: −$21,947
• Est. tax savings @ 24.0%: +$5,267
• After-tax cash flow: $-10,295/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: Dundee Central School District
• NCES district ID: 3609390
• Math proficiency: 42% ▼ -9.00%
• Reading proficiency: 53% ▲ 13.00%
• Median HH income: $47,864
• Composite: 40.47/100
• National rank: #3717
• State rank: #431 of 590 in NY

Livability — Dundee

• Score: 67/100
• State rank: #576
• US rank: #10399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 930

Population outlook (Yates County) Hauer SSP2

• Today (2025): 23,773 people
• By 2030: 22,867 · -3.8%
• By 2040: 20,750 · -12.7%
• By 2050: 18,917 · -20.4%
• By 2075: 15,090 · -36.5%
• By 2100: 11,428 · -51.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 20% Lithuanian 4% Italian 2%
• Languages at home: 56% English-only · German/W. Germanic 44%

Political lean MEDSL · Yates

• 2024 margin: R (+16.2) · D 41.9% · R 58.1%
• 2008→2024 swing: -12.5pp toward R · 2008: -3.7pp · 2024: -16.2pp
• All cycles: 2024: R+16.2 2020: R+18.6 2016: R+21.9 2012: R+3.0 2008: R+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.92%
• Current HPI: 354.0653
• 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

-8.7% since first listed

4 events — show timeline

• 2026-04-09 Listed $319,000 UNYREIS
• 2024-08-27 Listing Removed — UNYREIS
• 2024-08-01 Relisted — UNYREIS
• 2024-03-21 Listed $349,500 UNYREIS