8989 Chidsey Hill Rd · Keuka Park, NY 14418

$338,000

4 bd · 1.5 ba · 2,072 sqft · SingleFamily public records · 58 Days on market

Built 1940 2.59 ac lot $163/sqft · 60% 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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Cash flow +3.7/30.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to wine country! Located in the heart of the Finger Lakes, this stunning 4-bedroom, 2-bathroom newly remodeled home offers exceptional space and versatility, including two additional bonus rooms—perfect for a home office, guest space, or hobby area. Currently bringing in around $40,000 a year as a short term rental! Step inside to a beautifully updated interior featuring a gorgeous kitchen with granite countertops, luxury flooring throughout, and numerous upgrades including electrical, bathrooms, drywall, and more. Every detail has been thoughtfully improved to create a move-in ready home. Enjoy outdoor living at its finest with a covered porch and brand-new hot tub—ideal for relaxing after a day on the lake or exploring the region. The property also features a large garage, a stocked pond, and a beautifully landscaped yard, offering both privacy and charm. Conveniently located just minutes from Keuka Lake and surrounded by some of the area’s most popular wineries and breweries, this property is perfectly positioned to enjoy all that the Finger Lakes region has to offer.

Key facts

• Newly remodeled home
• Luxury flooring
• Bonus rooms

Tags

• NEWLY REMODELED HOME
• BONUS ROOMS
• UPDATED INTERIOR
• GORGEOUS KITCHEN
• GRANITE COUNTERTOPS
• LUXURY FLOORING

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $338k.

Deal economics

• At list price, monthly cash flow is $-995 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (52.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (57.3% below list).
• Recommended offer: $144k (57.3% below list) — sets the bar for 1% rule.
• Cap rate 2.8% 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.
• Hammondsport Central School District (rural): math 61% / reading 55% proficiency, ranked #305 of 755 in NY (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 15 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 $36k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y 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 $216k; list at $338k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,260 (57.3% 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 58 days. Have you received any prior offers? Is the seller open to a 57% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.43% ✗
• Cap rate: 2.76%
• Cash-on-cash: -12.62%
• DSCR: 0.44
• GRM: 19.5

CMA / ARV

• ARV (median comp): $837,547
• List price: $338,000
• Delta: -59.64%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.5%
• Equity multiple: 2.27×
• Total profit: $120,589
• Equity at exit: $304,497

10-year hold

• IRR: 15.0%
• Equity multiple: 5.28×
• Total profit: $404,765
• Equity at exit: $656,660

Cash invested: $94,640 (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 14418

• Home prices YoY: 4.7%
• Active inventory: 15
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $1,443 medium
• Mortgage (P&I): −$1,773
• Tax from tax record: −$222 /mo · $2,660/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $-995

Break-even live

Break-even rent $2,703

Max offer price $162,172

Occupancy floor —

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: $84,500
• Closing costs: $10,140
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-18
   days on market $338,000 Active 58 DOM
2. 2026-06-17
   days on market $338,000 Active 57 DOM
3. 2026-06-16
   days on market $338,000 Active 56 DOM
4. 2026-06-15
   days on market $338,000 Active 55 DOM
5. 2026-06-13
   days on market $338,000 Active 53 DOM
6. 2026-06-12
   days on market $338,000 Active 52 DOM
7. 2026-06-09
   days on market $338,000 Active 49 DOM
8. 2026-06-08
   days on market $338,000 Active 48 DOM
9. 2026-06-07
   days on market $338,000 Active 47 DOM
10. 2026-06-07
    days on market $338,000 Active 46 DOM
11. 2026-06-04
    days on market $338,000 Active 43 DOM
12. 2026-06-03
    price $338,000 Active 42 DOM
13. 2026-06-02
    days on market $349,000 Active 42 DOM
14. 2026-06-01
    days on market $349,000 Active 41 DOM
15. 2026-05-31
    days on market $349,000 Active 40 DOM
16. 2026-04-21
    listed $349,000 Active 1119-char remark

    Show marketing remark (1119 chars)

    Welcome to wine country! Located in the heart of the Finger Lakes, this stunning 4-bedroom, 2-bathroom newly remodeled home offers exceptional space and versatility, including two additional bonus rooms—perfect for a home office, guest space, or hobby area. Currently bringing in around $40,000 a year as a short term rental! Step inside to a beautifully updated interior featuring a gorgeous kitchen with granite countertops, luxury flooring throughout, and numerous upgrades including electrical, bathrooms, drywall, and more. Every detail has been thoughtfully improved to create a move-in ready home. Enjoy outdoor living at its finest with a covered porch and brand-new hot tub—ideal for relaxing after a day on the lake or exploring the region. The property also features a large garage, a stocked pond, and a beautifully landscaped yard, offering both privacy and charm. Conveniently located just minutes from Keuka Lake and surrounded by some of the area’s most popular wineries and breweries, this property is perfectly positioned to enjoy all that the Finger Lakes region has to offer.

17. 2025-11-07
    historical
18. 2025-07-01
    price $374,900
19. 2025-05-06
    listed $399,900 Active
20. 2023-08-07
    soldstatus $216,000
21. 2023-07-28
    soldstatus $216,000 Closed Sale or Rented
22. 2023-07-28
    soldstatus $216,000
23. 2023-05-09
    historical Continue to Show- Under Contract
24. 2023-05-01
    price $219,900
25. 2023-04-30
    listed $219,000
26. 2023-04-29
    historical
27. 2023-04-12
    price $229,900
28. 2023-02-08
    price $239,900
29. 2022-12-19
    listed $243,900 Active
30. 2022-11-08
    listed $229,900
31. 2022-10-23
    historical
32. 2022-10-10
    historical
33. 2022-10-10
    listed $269,000 Active
34. 2022-09-10
    historical Continue to Show- Under Contract
35. 2022-08-08
    historical
36. 2022-08-08
    listed $269,000 Active
37. 2022-07-25
    listed $279,000 Active
38. 2006-08-10
    historical
39. 2006-04-30
    listed $82,900
40. 2005-06-27
    soldstatus $73,000

ⓘ 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: $2,660 · $222/mo
• Projected year-2 tax: $4,186 · $349/mo
• Expected delta: +$1,526/yr (+$127/mo · 57.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°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: $17,311
• − Mortgage interest: −$18,933
• − Property taxes: −$2,660
• − Insurance: −$1,690
• − Repairs & maintenance: −$1,385
• − Management: −$1,385
• − Depreciation: −$9,833
• Taxable loss: −$18,574
• Est. tax savings @ 24.0%: +$4,458
• After-tax cash flow: $-7,486/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: Hammondsport Central School District
• NCES district ID: 3613470
• Math proficiency: 61% ▲ 4.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $51,927
• Composite: 51.3/100
• National rank: #3724
• State rank: #305 of 755 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): 1,147

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 (87%)
• Race & ethnicity: White 87% Asian 12%
• Common ancestry: Italian 7% Lithuanian 4% Romanian 3%
• Foreign-born: 9% · China
• Languages at home: 80% English-only · German/W. Germanic 10% Chinese 10%

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: ▲ 16.91%
• Current HPI: 373.9993
• 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

+378.1% since first listed

25 events — show timeline

• 2026-04-21 Listed $349,000 UNYREIS
• 2025-11-07 Listing Removed — UNYREIS
• 2025-07-01 Price Changed $374,900 UNYREIS
• 2025-05-06 Listed $399,900 UNYREIS
• 2023-08-07 Sold (Public Records) $216,000 Public Records
• 2023-07-28 Sold (MLS) $216,000 UNYREIS
• 2023-07-28 Sold (MLS) $216,000 UNYREIS
• 2023-05-09 Contingent — UNYREIS
• 2023-05-01 Price Changed $219,900 UNYREIS
• 2023-04-30 Listed $219,000 UNYREIS
• 2023-04-29 Listing Removed — UNYREIS
• 2023-04-12 Price Changed $229,900 UNYREIS
• 2023-02-08 Price Changed $239,900 UNYREIS
• 2022-12-19 Listed $243,900 UNYREIS
• 2022-11-08 Listed $229,900 UNYREIS
• 2022-10-23 Listing Removed — UNYREIS
• 2022-10-10 Listing Removed — UNYREIS
• 2022-10-10 Listed $269,000 UNYREIS
• 2022-09-10 Contingent — UNYREIS
• 2022-08-08 Listing Removed — UNYREIS
• 2022-08-08 Listed $269,000 UNYREIS
• 2022-07-25 Listed $279,000 UNYREIS
• 2006-08-10 Listing Removed — UNYREIS
• 2006-04-30 Listed $82,900 UNYREIS
• 2005-06-27 Sold (Public Records) $73,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $2,660 · +4.7% YoY. Source: county tax records.