27 Sunnyside Ave · Bemus Point, NY 14712

$1,125,000

361 bd · None ba · 32,375 sqft · MultiFamily public records · 108 Days on market

Built 1958 1.70 ac lot ↓ 6% since listing

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 19 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Calling all investors & builders! Sitting on 1.7 acres and in the heart of the village of Bemus Point abundant opportunities await on this 19 Unit apartment complex (Formally Maple Grove School). Many recent updates include Boiler replacement in 2024, all new windows, new exterior doors, new mini-split heating and cooling, new breakers and panels in every apartment, some new appliances all of which was completed in 2025. This property is steps from Chautauqua Lake with rooftop views of the lake as well as Bemus point Golf Coarse. Great potential for development! The gymnasium, basement and stage has additional square footage for expansion. This is a unique opportunity that to take advantage of all Bemus has to offer.

Key facts

• 1.7 acre lot
• 3 parking spots
• Built 1958

What this means for you Summary

Snapshot

• This is a 19 × 1-bed/1-bath units multifamily listed at $1.12M.

Deal economics

• At list price, monthly cash flow is $17k ($206k/yr) — positive. Per door: $902/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($32k rent vs $1.12M).
• Recommended offer: $1.02M (9.0% below list) — sets the bar for market timing.
• Cap rate 24.6% vs local median 1.8% in Bemus Point — 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 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 $120k of equity ($8k loan paydown + $112k 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $315k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$193k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($1.02M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $750k; list at $1.12M implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1,023,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.80% ✓
• Cap rate: 24.58%
• Cash-on-cash: 65.32%
• DSCR: 3.91
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 76.9%
• Equity multiple: 6.41×
• Total profit: $1,705,206
• Equity at exit: $1,013,489

10-year hold

• IRR: 70.9%
• Equity multiple: 14.22×
• Total profit: $4,163,679
• Equity at exit: $2,185,628

Cash invested: $315,000 (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 14712

• Home prices YoY: 15.3%
• Active inventory: 47
• Price-to-rent: 56.5×

Monthly cashflow live

• Estimated rent: $31,504 medium
• Mortgage (P&I): −$5,900
• Tax from tax record: −$1,374 /mo · $16,484/yr
• Insurance: −$469
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,616
• Net cashflow: $17,146

Break-even live

Break-even rent $9,800

Max offer price $1,125,000

Occupancy floor 41%

19-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 19× units	1	1	$31,502
Total (19 units)			$31,504

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: $281,250
• Closing costs: $33,750
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $1,125,000 Active 108 DOM
2. 2026-06-18
   days on market $1,125,000 Active 107 DOM
3. 2026-06-17
   days on market $1,125,000 Active 106 DOM
4. 2026-06-16
   days on market $1,125,000 Active 105 DOM
5. 2026-06-15
   days on market $1,125,000 Active 104 DOM
6. 2026-06-14
   days on market $1,125,000 Active 102 DOM
7. 2026-06-12
   days on market $1,125,000 Active 101 DOM
8. 2026-06-09
   days on market $1,125,000 Active 98 DOM
9. 2026-06-08
   days on market $1,125,000 Active 97 DOM
10. 2026-06-07
    days on market $1,125,000 Active 96 DOM
11. 2026-06-05
    days on market $1,125,000 Active 93 DOM
12. 2026-06-03
    days on market $1,125,000 Active 92 DOM
13. 2026-06-02
    days on market $1,125,000 Active 91 DOM
14. 2026-06-01
    days on market $1,125,000 Active 90 DOM
15. 2026-05-31
    days on market $1,125,000 Active 89 DOM
16. 2026-05-30
    days on market $1,125,000 Active 88 DOM
17. 2026-03-03
    listed $1,125,000 Active 732-char remark

    Show marketing remark (732 chars)

    Calling all investors & builders! Sitting on 1.7 acres and in the heart of the village of Bemus Point abundant opportunities await on this 19 Unit apartment complex (Formally Maple Grove School). Many recent updates include Boiler replacement in 2024, all new windows, new exterior doors, new mini-split heating and cooling, new breakers and panels in every apartment, some new appliances all of which was completed in 2025. This property is steps from Chautauqua Lake with rooftop views of the lake as well as Bemus point Golf Coarse. Great potential for development! The gymnasium, basement and stage has additional square footage for expansion. This is a unique opportunity that to take advantage of all Bemus has to offer.

18. 2022-02-13
    price $690
19. 2019-09-06
    soldstatus $750,000
20. 2019-08-30
    soldstatus $845,000 Closed Sale or Rented 26-char remark

    Show marketing remark (26 chars)

    Commissions paid by buyer.

21. 2019-01-04
    status Under Contract- Do Not Show 26-char remark

    Show marketing remark (26 chars)

    Commissions paid by buyer.

22. 2018-04-06
    listed $1,200,000 Active 26-char remark

    Show marketing remark (26 chars)

    Commissions paid by buyer.

ⓘ 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: $16,484 · $1,374/mo
• Projected year-2 tax: $17,748 · $1,479/mo
• Expected delta: +$1,264/yr (+$105/mo · 7.7%)

ⓘ 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 2/10 Low 7 d/yr ≥90°F today · 17 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: $378,048
• − Mortgage interest: −$63,017
• − Property taxes: −$16,484
• − Insurance: −$5,625
• − Repairs & maintenance: −$30,244
• − Management: −$30,244
• − Depreciation: −$32,727
• Taxable income: $199,707
• Est. tax owed @ 24.0%: −$47,930
• After-tax cash flow: $157,824/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

• Census place: Bemus Point, NY
• 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

-6.2% since first listed

6 events — show timeline

• 2026-03-03 Listed $1,125,000 UNYREIS
• 2022-02-13 Price Changed $690 RENT.
• 2019-09-06 Sold (Public Records) $750,000 Public Records
• 2019-08-30 Sold (MLS) $845,000 UNYREIS
• 2019-01-04 Pending — UNYREIS
• 2018-04-06 Listed $1,200,000 UNYREIS

Property tax history

+1.4%/yr

Latest (2025): $16,484 · +1.8% YoY. Source: county tax records.