2555 Willett Road Ext · Keuka Park, NY 14478

$225,000

1 bd · 1.0 ba · 750 sqft · Other public records · 57 Days on market

Built 1988 9.63 ac lot $300/sqft · 65% below area

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

• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Cash flow +4.8/30.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Set on 4.59 acres just outside of Penn Yan, this versatile property offers space, functionality, and exciting potential. The centerpiece is a spacious two-story barn/garage with electric and a full upper level—ready for storage, workshop use, or future finishing. There is no well or septic currently in place, but there is electricity. Just minutes from Keuka Lake and Keuka Lake State Park, this parcel offers both privacy and convenience. Come see what you can do!

Key facts

• Workshop space
• Two story barn
• Serene pond

Tags

• TWO STORY BARN
• WORKSHOP SPACE
• SERENE POND
• OPEN LAWNS
• ABUNDANT WILDLIFE

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Electricity available; Well water; Septic tank
• Home design: Single-story; Frame construction; Existing (previously built)
• Construction: Frame construction; Pillar/post/pier foundation
• Exterior features: Deck; See remarks

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 1 main-level bedroom
• Flooring: Carpet; Resilient flooring; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Wall furnace; Heating present (see remarks)
• Interior features: Loft; See remarks
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $225k.

Deal economics

• At list price, monthly cash flow is $-553 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (43.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (45.0% below list).
• Recommended offer: $124k (45.0% below list) — sets the bar for 1% rule.
• Cap rate 3.3% vs local median 1.1% in Keuka Park — 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 66/100 on livability (#656 in NY) — a middle-class / working-renter tenant base. Strengths: employment A+, crime A, cost of living B+; Watch: health & safety D, amenities F, commute F.
• Penn Yan Central School District (town): math 57% / reading 62% proficiency, ranked #251 of 590 in NY (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Penn Yan Elementary School (math 56% / reading 55%, grade C, #902 of 2,108 statewide, top 43%, 519 students, 54% FRL); Penn Yan Middle School (math 45% / reading 61%, grade C+, #233 of 729 statewide, top 32%, 328 students, 56% FRL); Penn Yan Academy (math 98% / reading 92%, grade A+, #93 of 1,100 statewide, top 10%, 385 students, 48% FRL).
• Market conditions: 15 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 $15k of equity ($2k loan paydown + $13k appreciation (5.9% local appreciation)).
• Yates 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 ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask is 52% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $123,709 (45.0% 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 57 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.55% ✗
• Cap rate: 3.34%
• Cash-on-cash: -10.54%
• DSCR: 0.53
• GRM: 15.2

CMA / ARV

• ARV (median comp): $647,683
• List price: $225,000
• Delta: -65.26%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

5.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.45×
• Total profit: $28,556
• Equity at exit: $140,213

10-year hold

• IRR: 8.7%
• Equity multiple: 2.78×
• Total profit: $111,914
• Equity at exit: $253,213

Cash invested: $63,000 (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 14478

• Home prices YoY: 1.5%
• Active inventory: 15
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$257 /mo · $3,086/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $-553

Break-even live

Break-even rent $1,938

Max offer price $127,222

Occupancy floor —

Sensitivity live

Price	-10% $-426	-5% $-490	+0% $-553	+5% $-617	+10% $-681
Rent	-10% $-651	-5% $-602	+0% $-553	+5% $-505	+10% $-456
Rate	-1.0pp $-440	-0.5pp $-496	base $-553	+0.5pp $-612	+1.0pp $-671

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $225,000 Active 57 DOM
2. 2026-06-21
   days on market $225,000 Active 56 DOM
3. 2026-06-18
   days on market $225,000 Active 54 DOM
4. 2026-06-17
   pricedays on marketlisting id $225,000 Active 53 DOM
5. 2026-06-16
   days on market $148,000 Active 52 DOM
6. 2026-06-15
   days on market $148,000 Active 51 DOM
7. 2026-06-13
   days on market $148,000 Active 49 DOM
8. 2026-06-12
   pricedays on marketlisting id $148,000 Active 48 DOM
9. 2026-06-09
   days on market $248,000 Active 45 DOM
10. 2026-06-08
    days on market $248,000 Active 44 DOM
11. 2026-06-07
    days on market $248,000 Active 43 DOM
12. 2026-06-07
    days on market $248,000 Active 42 DOM
13. 2026-06-04
    days on market $248,000 Active 39 DOM
14. 2026-06-02
    days on market $248,000 Active 38 DOM
15. 2026-06-01
    days on market $248,000 Active 37 DOM
16. 2026-05-31
    days on market $248,000 Active 36 DOM
17. 2026-04-25
    listed $99,000 Active 473-char remark

    Show marketing remark (878 chars)

    This secluded 5.04-acre parcel just minutes outside of Penn Yan offers a true escape into nature. Tucked back from the road and on the edge of the woods, the cabin provides a private, rustic retreat surrounded by mature trees and abundant wildlife. The cabin is adorable, but in need of renovation and is ready for your vision, making it an ideal project for those looking to create a personalized getaway in the heart of the Finger Lakes. A serene shallow pond adds to the property’s charm, offering a peaceful setting for reflection and outdoor enjoyment. Just north of Keuka Lake and minutes from Keuka Lake State Park and boat launch, this property is perfectly located for weekend retreats, a great starter home or a nature-focused lifestyle. Property being offered As-is. Taxes are estimates based on approved, but not recorded subdivision. See also R1675126 and R

18. 2026-04-25
    listed $148,000 Active 878-char remark

    Show marketing remark (878 chars)

    This secluded 5.04-acre parcel just minutes outside of Penn Yan offers a true escape into nature. Tucked back from the road and on the edge of the woods, the cabin provides a private, rustic retreat surrounded by mature trees and abundant wildlife. The cabin is adorable, but in need of renovation and is ready for your vision, making it an ideal project for those looking to create a personalized getaway in the heart of the Finger Lakes. A serene shallow pond adds to the property’s charm, offering a peaceful setting for reflection and outdoor enjoyment. Just north of Keuka Lake and minutes from Keuka Lake State Park and boat launch, this property is perfectly located for weekend retreats, a great starter home or a nature-focused lifestyle. Property being offered As-is. Taxes are estimates based on approved, but not recorded subdivision. See also R1675126 and R

19. 2026-04-25
    listed $248,000 Active

    Show marketing remark (878 chars)

    This secluded 5.04-acre parcel just minutes outside of Penn Yan offers a true escape into nature. Tucked back from the road and on the edge of the woods, the cabin provides a private, rustic retreat surrounded by mature trees and abundant wildlife. The cabin is adorable, but in need of renovation and is ready for your vision, making it an ideal project for those looking to create a personalized getaway in the heart of the Finger Lakes. A serene shallow pond adds to the property’s charm, offering a peaceful setting for reflection and outdoor enjoyment. Just north of Keuka Lake and minutes from Keuka Lake State Park and boat launch, this property is perfectly located for weekend retreats, a great starter home or a nature-focused lifestyle. Property being offered As-is. Taxes are estimates based on approved, but not recorded subdivision. See also R1675126 and R

20. 2024-04-03
    soldstatus $248,000
21. 2024-04-02
    soldstatus $248,000 Closed
22. 2024-02-15
    status Pending
23. 2024-02-02
    listed $126,500 Active
24. 2001-12-03
    soldstatus $48,000

ⓘ 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: $3,086 · $257/mo
• Projected year-2 tax: $3,444 · $287/mo
• Expected delta: +$358/yr (+$30/mo · 11.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 4 d/yr ≥94°F today · 10 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,845
• − Mortgage interest: −$12,603
• − Property taxes: −$3,086
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$6,545
• Taxable loss: −$10,890
• Est. tax savings @ 24.0%: +$2,613
• After-tax cash flow: $-4,028/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: Penn Yan Central School District
• NCES district ID: 3622740
• Math proficiency: 57% ▲ 1.00%
• Reading proficiency: 62% ▲ 16.00%
• Median HH income: $48,067
• Composite: 50.46/100
• National rank: #1860
• State rank: #251 of 590 in NY

Livability — Keuka Park

• Score: 66/100
• State rank: #656
• US rank: #12202

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,393

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 (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2%
• Common ancestry: Romanian 5% Iranian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · German/W. Germanic 4% Spanish 1%

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: ▲ 5.91%
• Current HPI: 390.287
• 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

+368.8% since first listed

9 events — show timeline

• 2026-06-12 Price Changed $225,000 UNYREIS
• 2026-04-25 Listed $148,000 UNYREIS
• 2026-04-25 Listed $99,000 UNYREIS
• 2026-04-25 Listed $248,000 UNYREIS
• 2024-04-03 Sold (Public Records) $248,000 Public Records
• 2024-04-02 Sold (MLS) $248,000 UNYREIS
• 2024-02-15 Pending — UNYREIS
• 2024-02-02 Listed $126,500 UNYREIS
• 2001-12-03 Sold (Public Records) $48,000 Public Records

Property tax history

-1.9%/yr

Latest (2025): $3,086 · +2.5% YoY. Source: county tax records.