2281 Wearkley Rd · Wayland, NY 14572

$114,900

3 bd · 1.0 ba · 1,667 sqft · SingleFamily public records · 114 Days on market

Built 1976 1.20 ac lot $69/sqft · 55% below area ↓ 14% since listing

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Why this score? — see what drove the C- 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 +15.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Appreciation +5.8/10.0
• DSCR +4.7/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

If you’ve been looking for a country setting, this ranch offers 3 bedrooms, a bonus room, and 2 full baths, plus a creek on the property and just miles from Loon Lake. Enjoy an open living/dining area with exposed beams and a cozy gas fireplace, French doors to a 3-season room, and a partially fenced yard for pets. The kitchen features custom cherry cabinets, and the first-floor utility/laundry room adds everyday convenience. Updates include newer vinyl siding, a metal roof, and a composite deck. A detached 2–3 car garage with 120-amp service offers excellent storage and workshop space—ready for your finishing touches.

Key facts

• Cozy gas fireplace
• 3 season room
• Ranch style home

Tags

• RANCH STYLE HOME
• OPEN LIVING AND DINING AREA
• COZY GAS FIREPLACE
• 3 SEASON ROOM
• PARTIALLY FENCED YARD
• CUSTOM CHERRY CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $43 ($511/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#668 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: health & safety D, amenities F, commute F.
• Wayland-Cohocton Central School District (rural): math 40% / reading 53% proficiency, ranked #446 of 590 in NY (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cohocton Elementary School (69 students, 59% FRL); Wayland-Cohocton Middle School (math 27% / reading 49%, grade F, #442 of 729 statewide, top 61%, 379 students, 62% FRL); Wayland-Cohocton High School (math 92%, 394 students, 59% FRL) — zoned schools average 60% FRL vs 39% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 27 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 $3k of equity ($794 loan paydown + $2k appreciation (1.7% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price.

Recommended offer $104,559 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.14% ✓
• Cap rate: 6.74%
• Cash-on-cash: 1.59%
• DSCR: 1.07
• GRM: 7.3

CMA / ARV

• ARV (median comp): $256,898
• List price: $114,900
• Delta: -55.27%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

1.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.27×
• Total profit: $8,839
• Equity at exit: $43,310

10-year hold

• IRR: 9.0%
• Equity multiple: 2.19×
• Total profit: $38,197
• Equity at exit: $60,860

Cash invested: $32,172 (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 14572

• Home prices YoY: 0.7%
• Active inventory: 27
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,307 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$339 /mo · $4,070/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $43

Break-even live

Break-even rent $1,253

Max offer price $114,900

Occupancy floor 92%

Sensitivity live

Price	-10% $108	-5% $75	+0% $43	+5% $10	+10% $-22
Rent	-10% $-61	-5% $-9	+0% $43	+5% $94	+10% $146
Rate	-1.0pp $100	-0.5pp $72	base $43	+0.5pp $13	+1.0pp $-18

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $114,900 Active 114 DOM
2. 2026-06-21
   days on market $114,900 Active 113 DOM
3. 2026-06-18
   days on market $114,900 Active 111 DOM
4. 2026-06-17
   days on market $114,900 Active 110 DOM
5. 2026-06-16
   days on market $114,900 Active 109 DOM
6. 2026-06-15
   days on market $114,900 Active 108 DOM
7. 2026-06-13
   days on market $114,900 Active 106 DOM
8. 2026-06-12
   days on market $114,900 Active 105 DOM
9. 2026-06-09
   days on market $114,900 Active 102 DOM
10. 2026-06-08
    days on market $114,900 Active 101 DOM
11. 2026-06-07
    days on market $114,900 Active 100 DOM
12. 2026-06-07
    days on market $114,900 Active 99 DOM
13. 2026-06-04
    days on market $114,900 Active 96 DOM
14. 2026-06-02
    days on market $114,900 Active 95 DOM
15. 2026-06-01
    days on market $114,900 Active 94 DOM
16. 2026-05-31
    days on market $114,900 Active 93 DOM
17. 2026-04-24
    price $119,900 645-char remark

    Show marketing remark (645 chars)

    If you’ve been looking for a country setting, this ranch offers 3 bedrooms, a bonus room, and 2 full baths, plus a creek on the property and just miles from Loon Lake. Enjoy an open living/dining area with exposed beams and a cozy gas fireplace, French doors to a 3-season room, and a partially fenced yard for pets. The kitchen features custom cherry cabinets, and the first-floor utility/laundry room adds everyday convenience. Updates include newer vinyl siding, a metal roof, and a composite deck. A detached 2–3 car garage with 120-amp service offers excellent storage and workshop space—ready for your finishing touches.

18. 2026-03-25
    status Active 645-char remark

    Show marketing remark (645 chars)

    If you’ve been looking for a country setting, this ranch offers 3 bedrooms, a bonus room, and 2 full baths, plus a creek on the property and just miles from Loon Lake. Enjoy an open living/dining area with exposed beams and a cozy gas fireplace, French doors to a 3-season room, and a partially fenced yard for pets. The kitchen features custom cherry cabinets, and the first-floor utility/laundry room adds everyday convenience. Updates include newer vinyl siding, a metal roof, and a composite deck. A detached 2–3 car garage with 120-amp service offers excellent storage and workshop space—ready for your finishing touches.

19. 2026-03-20
    historical Active Under Contract 645-char remark

    Show marketing remark (645 chars)

    If you’ve been looking for a country setting, this ranch offers 3 bedrooms, a bonus room, and 2 full baths, plus a creek on the property and just miles from Loon Lake. Enjoy an open living/dining area with exposed beams and a cozy gas fireplace, French doors to a 3-season room, and a partially fenced yard for pets. The kitchen features custom cherry cabinets, and the first-floor utility/laundry room adds everyday convenience. Updates include newer vinyl siding, a metal roof, and a composite deck. A detached 2–3 car garage with 120-amp service offers excellent storage and workshop space—ready for your finishing touches.

20. 2026-03-17
    status Active 645-char remark

    Show marketing remark (645 chars)

    If you’ve been looking for a country setting, this ranch offers 3 bedrooms, a bonus room, and 2 full baths, plus a creek on the property and just miles from Loon Lake. Enjoy an open living/dining area with exposed beams and a cozy gas fireplace, French doors to a 3-season room, and a partially fenced yard for pets. The kitchen features custom cherry cabinets, and the first-floor utility/laundry room adds everyday convenience. Updates include newer vinyl siding, a metal roof, and a composite deck. A detached 2–3 car garage with 120-amp service offers excellent storage and workshop space—ready for your finishing touches.

21. 2026-03-08
    price $129,900 645-char remark

    Show marketing remark (645 chars)

    If you’ve been looking for a country setting, this ranch offers 3 bedrooms, a bonus room, and 2 full baths, plus a creek on the property and just miles from Loon Lake. Enjoy an open living/dining area with exposed beams and a cozy gas fireplace, French doors to a 3-season room, and a partially fenced yard for pets. The kitchen features custom cherry cabinets, and the first-floor utility/laundry room adds everyday convenience. Updates include newer vinyl siding, a metal roof, and a composite deck. A detached 2–3 car garage with 120-amp service offers excellent storage and workshop space—ready for your finishing touches.

22. 2026-02-27
    listed $139,900 Active 645-char remark

    Show marketing remark (645 chars)

    If you’ve been looking for a country setting, this ranch offers 3 bedrooms, a bonus room, and 2 full baths, plus a creek on the property and just miles from Loon Lake. Enjoy an open living/dining area with exposed beams and a cozy gas fireplace, French doors to a 3-season room, and a partially fenced yard for pets. The kitchen features custom cherry cabinets, and the first-floor utility/laundry room adds everyday convenience. Updates include newer vinyl siding, a metal roof, and a composite deck. A detached 2–3 car garage with 120-amp service offers excellent storage and workshop space—ready for your finishing touches.

ⓘ 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: $4,070 · $339/mo
• Projected year-2 tax: $4,070 · $339/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 ≥89°F today · 17 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: $15,679
• − Mortgage interest: −$6,436
• − Property taxes: −$4,070
• − Insurance: −$574
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − Depreciation: −$3,343
• Taxable loss: −$1,254
• Est. tax savings @ 24.0%: +$301
• After-tax cash flow: $812/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: Wayland-Cohocton Central School District
• NCES district ID: 3600011
• Math proficiency: 40% ▼ -18.00%
• Reading proficiency: 53% ▲ 8.00%
• Median HH income: $46,957
• Composite: 39.54/100
• National rank: #3940
• State rank: #446 of 590 in NY

Livability — Wayland

• Score: 65/100
• State rank: #668
• US rank: #12438

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,745

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 (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Iranian 3% Romanian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▲ 1.67%
• Current HPI: 258.8086
• 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

-14.3% since first listed

6 events — show timeline

• 2026-04-24 Price Changed $119,900 UNYREIS
• 2026-03-25 Relisted — UNYREIS
• 2026-03-20 Contingent — UNYREIS
• 2026-03-17 Relisted — UNYREIS
• 2026-03-08 Price Changed $129,900 UNYREIS
• 2026-02-27 Listed $139,900 UNYREIS

Property tax history

+6.3%/yr

Latest (2025): $4,070 · +315.5% YoY. Source: county tax records.