5 Summit Park Dr · Bemus Point, NY 14712

$669,900

5 bd · 3.0 ba · 2,685 sqft · SingleFamily public records · 54 Days on market

Built 2000 0.51 ac lot $249/sqft · 30% below area Est $1313k · 49% under $125/mo HOA · 7% of rent

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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 +5.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

COME TO THE SUMMIT AND ENJOY THE BEAUTIFUL PANORAMIC VIEWS OF BEMUS BAY. MODERN HOME WITH GOURMET KITCHEN, CORIAN COUNTERS. FIREPLACE WITH GAS STARTER, CUSTOM WOOD BAR FOR ENTERTAINING, HIGH TECH HOME, BACKUP ELECTRICAL PANEL WIRED FOR GAS GENERATOR HOOK-UP, INTERCOM SYSTEM, JACUZZI TUB IN MASTER BATH, ADDITIONAL GUEST SUITE WITH 15X15 BEDROOM AND LIVING ROOM WITH LAKE VIEWS. ENJOY YOUR PRIVATE BOAT SLIP, AND ACCESS TO LONG POINT STATE PARK FOR HIKING, BIKING AND SNOWMOBILING, YOUR NESTLED NEXT TO NATURE, YET A SHORT STROLL TO MAIN ST IN BEMUS FOR ENTERTAINING. A DELIGHT TO SHOW! 20' EASEMENT TO LAKE, PRIVATE DOCK!

Key facts

• Custom wet bar
• Lakeside community
• Open living space

Tags

• LAKESIDE COMMUNITY
• FLOOR-TO-CEILING WINDOWS
• OPEN LIVING SPACE
• WOOD-BURNING FIREPLACE
• CUSTOM WET BAR
• BACK DECK

Property features AI

Finance

• HOA & community: Semi-annual association fee of $750; Community trails/paths

Exterior

• Parking: Attached heated garage with 3 garage spaces; Garage includes electricity, storage, workshop area and a garage door opener
• Utilities: Well water; Sewer connected; Electricity connected; Cable available; High-speed internet available
• Home design: Two-story home; Existing construction; Block foundation
• Construction: Frame construction with vinyl siding; Architectural shingle roof
• Exterior features: Balcony; Deck; Open porch; Concrete driveway; Dock; Beach access; Deeded lake access; Dock access; Garage apartment; Adjacent to public land; Irregular lot; Private road frontage; Views (has view)

Interior

• Kitchen: Double oven; Gas cooktop; Range hood; Dishwasher; Disposal; Exhaust fan; Refrigerator; Kitchen island; Eat-in kitchen; Walk-in pantry; Solid surface counters
• Bedrooms: Five bedrooms (primary and four additional) — bedrooms located on the second level except living areas on the first
• Flooring: Carpet; Ceramic tile; Hardwood; Varied flooring
• Bathrooms: Three full bathrooms; One main-level bathroom
• Heating & cooling: Gas heating; Baseboard heating; Hot water heating
• Interior features: Wet bar; Ceiling fans; Den; Eat-in kitchen; Jetted tub; Kitchen island; Pull-down attic stairs; Sliding doors / sliding glass doors; Storage; Solid surface counters; Walk-in pantry; Bar; Natural woodwork; Primary bedroom with bath; Workshop
• Laundry & utility: Main-level laundry; Washer; Dryer; Water softener (owned); Gas water heater; Generator

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $670k.

Deal economics

• At list price, monthly cash flow is $-4k ($-45k/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (71.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (72.9% below list).
• Recommended offer: $181k (72.9% below list) — sets the bar for 1% rule.
• Cap rate -0.4% vs local median 1.6% in Bemus Point — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 68/100 on livability (#539 in NY) — a middle-class / working-renter tenant base. Strengths: crime A, cost of living A, health & safety A; Watch: amenities F, commute F, employment F.
• Bemus Point Central School District (rural): math 65% / reading 61% proficiency, ranked #238 of 755 in NY (top 32%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 47 active listings in the ZIP; 127 units permitted in Chautauqua County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $72k of equity ($5k loan paydown + $67k appreciation (10.0% local appreciation)).
• Chautauqua County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$115k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($650k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y 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 $450k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $181,403 (72.9% 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 54 days. Have you received any prior offers? Is the seller open to a 73% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
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: 0.27% ✗
• Cap rate: -0.39%
• Cash-on-cash: -23.86%
• DSCR: -0.06
• GRM: 30.8

CMA / ARV

• ARV (median comp): $1,313,392
• List price: $669,900
• Delta: -48.99%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4426 Lakeside Dr	0.31mi	4/3.5 (-1)	2,630 (-2%)	19mo	$575,000	$219	59

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: 8.0%
• Equity multiple: 1.68×
• Total profit: $127,677
• Equity at exit: $603,499

10-year hold

• IRR: 10.0%
• Equity multiple: 4.00×
• Total profit: $563,480
• Equity at exit: $1,301,468

Cash invested: $187,572 (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 14712

• Home prices YoY: 15.3%
• Active inventory: 47
• Price-to-rent: 30.8×

Monthly cashflow live

• Estimated rent: $1,814 medium
• Mortgage (P&I): −$3,513
• Tax from tax record: −$1,245 /mo · $14,943/yr
• Insurance: −$279
• HOA: −$125
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $-3,729

Break-even live

Break-even rent $6,535

Max offer price $189,282

Occupancy floor —

Sensitivity live

Price	-10% $-3,350	-5% $-3,540	+0% $-3,729	+5% $-3,919	+10% $-4,109
Rent	-10% $-3,873	-5% $-3,801	+0% $-3,729	+5% $-3,658	+10% $-3,586
Rate	-1.0pp $-3,392	-0.5pp $-3,559	base $-3,729	+0.5pp $-3,903	+1.0pp $-4,080

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: $167,475
• Closing costs: $20,097
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $125 · $1,500/yr
• Likely covers: gaselectric

Listing history 29 events

1. 2026-06-19
   days on market $669,900 Active 54 DOM
2. 2026-06-18
   days on market $669,900 Active 53 DOM
3. 2026-06-17
   days on market $669,900 Active 52 DOM
4. 2026-06-16
   days on market $669,900 Active 51 DOM
5. 2026-06-15
   days on market $669,900 Active 50 DOM
6. 2026-06-14
   days on market $669,900 Active 48 DOM
7. 2026-06-12
   days on market $669,900 Active 47 DOM
8. 2026-06-09
   days on market $669,900 Active 44 DOM
9. 2026-06-08
   days on market $669,900 Active 43 DOM
10. 2026-06-07
    days on market $669,900 Active 42 DOM
11. 2026-06-05
    days on market $669,900 Active 39 DOM
12. 2026-06-03
    days on market $669,900 Active 38 DOM
13. 2026-06-02
    days on market $669,900 Active 37 DOM
14. 2026-06-01
    days on market $669,900 Active 36 DOM
15. 2026-05-31
    days on market $669,900 Active 35 DOM
16. 2026-05-30
    days on market $669,900 Active 34 DOM
17. 2026-04-26
    listed $669,900 Active 2206-char remark
18. 2026-01-03
    historical
19. 2025-09-10
    price $699,900
20. 2025-06-20
    listed $749,900 Active
21. 2008-05-05
    soldstatus $449,900

    Show marketing remark (622 chars)

    COME TO THE SUMMIT AND ENJOY THE BEAUTIFUL PANORAMIC VIEWS OF BEMUS BAY. MODERN HOME WITH GOURMET KITCHEN, CORIAN COUNTERS. FIREPLACE WITH GAS STARTER, CUSTOM WOOD BAR FOR ENTERTAINING, HIGH TECH HOME, BACKUP ELECTRICAL PANEL WIRED FOR GAS GENERATOR HOOK-UP, INTERCOM SYSTEM, JACUZZI TUB IN MASTER BATH, ADDITIONAL GUEST SUITE WITH 15X15 BEDROOM AND LIVING ROOM WITH LAKE VIEWS. ENJOY YOUR PRIVATE BOAT SLIP, AND ACCESS TO LONG POINT STATE PARK FOR HIKING, BIKING AND SNOWMOBILING, YOUR NESTLED NEXT TO NATURE, YET A SHORT STROLL TO MAIN ST IN BEMUS FOR ENTERTAINING. A DELIGHT TO SHOW! 20' EASEMENT TO LAKE, PRIVATE DOCK!

22. 2008-05-01
    soldstatus $449,900
23. 2008-01-03
    listed $449,900

    Show marketing remark (622 chars)

    COME TO THE SUMMIT AND ENJOY THE BEAUTIFUL PANORAMIC VIEWS OF BEMUS BAY. MODERN HOME WITH GOURMET KITCHEN, CORIAN COUNTERS. FIREPLACE WITH GAS STARTER, CUSTOM WOOD BAR FOR ENTERTAINING, HIGH TECH HOME, BACKUP ELECTRICAL PANEL WIRED FOR GAS GENERATOR HOOK-UP, INTERCOM SYSTEM, JACUZZI TUB IN MASTER BATH, ADDITIONAL GUEST SUITE WITH 15X15 BEDROOM AND LIVING ROOM WITH LAKE VIEWS. ENJOY YOUR PRIVATE BOAT SLIP, AND ACCESS TO LONG POINT STATE PARK FOR HIKING, BIKING AND SNOWMOBILING, YOUR NESTLED NEXT TO NATURE, YET A SHORT STROLL TO MAIN ST IN BEMUS FOR ENTERTAINING. A DELIGHT TO SHOW! 20' EASEMENT TO LAKE, PRIVATE DOCK!

24. 2007-07-26
    listed $465,000
25. 2005-12-09
    soldstatus $440,000
26. 2005-12-09
    soldstatus $440,000
27. 2004-07-15
    listed $493,000
28. 2003-07-24
    listed $495,000
29. 2001-07-03
    listed $495,000

ⓘ 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: $14,943 · $1,245/mo
• Projected year-2 tax: $14,943 · $1,245/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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 16 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: $21,768
• − Mortgage interest: −$37,525
• − Property taxes: −$14,943
• − Insurance: −$3,350
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − HOA: −$1,500
• − Depreciation: −$19,488
• Taxable loss: −$58,520
• Est. tax savings @ 24.0%: +$14,045
• After-tax cash flow: $-30,707/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: Bemus Point Central School District
• NCES district ID: 3604530
• Math proficiency: 65% ▼ -4.00%
• Reading proficiency: 61% ▼ -9.00%
• Median HH income: $50,968
• Composite: 55.15/100
• National rank: #2753
• State rank: #238 of 755 in NY

Livability — Bemus Point

• Score: 68/100
• State rank: #539
• US rank: #9687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,079

Population outlook (Chautauqua County) Hauer SSP2

• Today (2025): 123,454 people
• By 2030: 118,509 · -4.0%
• By 2040: 107,311 · -13.1%
• By 2050: 96,703 · -21.7%
• By 2075: 76,757 · -37.8%
• By 2100: 60,984 · -50.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 3% Romanian 3% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Chautauqua

• 2024 margin: Strong R (+22.0) · D 39.0% · R 61.0%
• 2008→2024 swing: -22.9pp toward R · 2008: 0.9pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.8 2016: R+24.6 2012: R+8.2 2008: D+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 48.79%
• Current HPI: 368.206
• 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

+35.3% since first listed

13 events — show timeline

• 2026-04-26 Listed $669,900 UNYREIS
• 2026-01-03 Listing Removed — UNYREIS
• 2025-09-10 Price Changed $699,900 UNYREIS
• 2025-06-20 Listed $749,900 UNYREIS
• 2008-05-05 Sold (MLS) $449,900 UNYREIS
• 2008-05-01 Sold (Public Records) $449,900 Public Records
• 2008-01-03 Listed $449,900 UNYREIS
• 2007-07-26 Listed $465,000 UNYREIS
• 2005-12-09 Sold (Public Records) $440,000 Public Records
• 2005-12-09 Sold (MLS) $440,000 UNYREIS
• 2004-07-15 Listed $493,000 UNYREIS
• 2003-07-24 Listed $495,000 UNYREIS
• 2001-07-03 Listed $495,000 UNYREIS

Property tax history

-1.9%/yr

Latest (2025): $14,943 · +0.8% YoY. Source: county tax records.