6959 Revere Dr · Highland-on-the-Lake, NY 14047

$79,900

3 bd · 1.0 ba · 1,038 sqft · SingleFamily public records · 44 Days on market

Built 1920 9,986 sqft lot $77/sqft · 63% below area ↓ 11% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for buyers looking to add their own cosmetic touches and build equity. Nestled near a peaceful creek, the setting provides a relaxing outdoor atmosphere with plenty of charm and potential. The home features baseboard heating, a solid roof, and solid bones to work with, making it an ideal option for an investor, handyman, or owner-occupant looking for an affordable project. With a little vision and updating, this property could truly shine. Conveniently located close to Lake Erie, local amenities, and major routes.

Key facts

• Solid bones
• Major routes
• Close to lake erie

Tags

• BASEBOARD HEATING
• SOLID ROOF
• SOLID BONES
• CLOSE TO LAKE ERIE
• LOCAL AMENITIES
• MAJOR ROUTES

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Existing/resale property
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Gravel driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 60 x 166

Interior

• Kitchen: Gas cooktop
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas heating; Baseboard heating
• Interior features: Eat-in kitchen; Separate/formal living room; Bedroom on main level; Main-level primary bedroom; Crawl space basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $943 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.5% vs local median 2.3% in Highland-on-the-Lake — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Evans-Brant Central School District (Lake Shore) (suburban): math 43% / reading 51% proficiency, ranked #424 of 590 in NY (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 47 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.57% ✓
• Cap rate: 20.46%
• Cash-on-cash: 50.60%
• DSCR: 3.25
• GRM: 3.2

CMA / ARV

• ARV (median comp): $214,038
• List price: $79,900
• Delta: -62.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6665 Wellington Dr	0.55mi	3/1.0	1,035 (-0%)	6mo	$165,000	$159	69
6910 Hamilton Dr	0.27mi	3/1.0	1,116 (+8%)	9mo	$230,000	$206	67
6795 Prescott Dr	0.47mi	2/1.0 (-1)	1,072 (+3%)	5mo	$180,000	$168	63
6614 Revere Dr	0.62mi	2/1.0 (-1)	966 (-7%)	4mo	$150,000	$155	52
6654 Hamilton Dr	0.61mi	3/2.0	992 (-4%)	11mo	$246,654	$249	51
6674 Gates Dr	0.64mi	3/1.0	1,068 (+3%)	23mo	$185,000	$173	46
6861 Wayne Dr	0.32mi	4/1.0 (+1)	1,188 (+14%)	14mo	$110,000	$93	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 48.4%
• Equity multiple: 3.11×
• Total profit: $47,249
• Equity at exit: $11,913

10-year hold

• IRR: 54.1%
• Equity multiple: 6.32×
• Total profit: $118,954
• Equity at exit: $6,908

Cash invested: $22,372 (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 14047

• Home prices YoY: -17.0%
• Active inventory: 47
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $2,052 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$225 /mo · $2,701/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $943

Break-even live

Break-even rent $857

Max offer price $79,900

Occupancy floor 49%

Sensitivity live

Price	-10% $989	-5% $966	+0% $943	+5% $921	+10% $898
Rent	-10% $781	-5% $862	+0% $943	+5% $1,024	+10% $1,106
Rate	-1.0pp $984	-0.5pp $964	base $943	+0.5pp $923	+1.0pp $902

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7008 Erie Rd Derby, NY	1.0–4.0	1.0	685	$2,052	$2.99	3d	9	0.90mi

Listing history 17 events

1. 2026-06-21
   days on market $79,900 Active 44 DOM
2. 2026-06-21
   days on market $79,900 Active 43 DOM
3. 2026-06-18
   days on market $79,900 Active 41 DOM
4. 2026-06-17
   days on market $79,900 Active 40 DOM
5. 2026-06-16
   days on market $79,900 Active 39 DOM
6. 2026-06-15
   days on market $79,900 Active 38 DOM
7. 2026-06-13
   days on market $79,900 Active 36 DOM
8. 2026-06-12
   pricedays on market $79,900 Active 35 DOM
9. 2026-06-09
   days on market $89,900 Active 32 DOM
10. 2026-06-08
    days on market $89,900 Active 31 DOM
11. 2026-06-07
    days on market $89,900 Active 30 DOM
12. 2026-06-07
    days on market $89,900 Active 29 DOM
13. 2026-06-04
    days on market $89,900 Active 26 DOM
14. 2026-06-02
    days on market $89,900 Active 25 DOM
15. 2026-06-01
    days on market $89,900 Active 24 DOM
16. 2026-05-31
    days on market $89,900 Active 23 DOM
17. 2026-05-08
    listed $89,900 Active 537-char remark

ⓘ 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: $2,701 · $225/mo
• Projected year-2 tax: $2,701 · $225/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,620
• − Mortgage interest: −$4,476
• − Property taxes: −$2,701
• − Insurance: −$400
• − Repairs & maintenance: −$1,970
• − Management: −$1,970
• − Depreciation: −$2,324
• Taxable income: $10,780
• Est. tax owed @ 24.0%: −$2,587
• After-tax cash flow: $8,734/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: Evans-Brant Central School District (Lake Shore)
• NCES district ID: 3616560
• Math proficiency: 43% ▼ -9.00%
• Reading proficiency: 51% ▲ 6.00%
• Median HH income: $56,433
• Composite: 40.89/100
• National rank: #3619
• State rank: #424 of 590 in NY

Livability — Highland-on-the-Lake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Highland-on-the-Lake, NY
• Population (ZIP): 6,072

Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Romanian 19% Scottish 6% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.60%
• Current HPI: 334.5151
• 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

-11.1% since first listed

2 events — show timeline

• 2026-06-11 Price Changed $79,900 WNYREIS
• 2026-05-08 Listed $89,900 WNYREIS

Property tax history

+2.2%/yr

Latest (2025): $2,701 · +2.5% YoY. Source: county tax records.