637 Hahnel Rd · Romulus, NY 14541

$379,900

4 bd · 2.0 ba · 1,456 sqft · SingleFamily public records · 26 Days on market

Built 1955 1.20 ac lot $261/sqft · 57% below area ↓ 28% since listing

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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
• Cash flow +4.5/30.0
• Schools +4.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to 637 Hahnel Road in Romulus, NY—where peaceful country living meets breathtaking Seneca Lake views and incredible investment opportunity! Set on 1.22 acres, this well-maintained 3-bedroom, 2-bath home with a finished basement offers the perfect blend of comfort, space, and versatility. Whether you’re searching for a full-time residence, vacation getaway, or income-producing property, this one checks every box. Step inside to a warm and inviting interior featuring a stunning open-concept kitchen and dining room with cathedral ceiling, exposed beams, and natural wood finishes that create true Finger Lakes charm. The layout flows seamlessly into the dining and living spaces, making it ideal for entertaining or relaxing after a day on the lake. Downstairs, the finished basement provides additional living space with a second bath—perfect for a rec room or guest/primary suite. Outside is where this property truly shines, offering an expansive deck overlooking the backyard and pool, perfect for summertime entertaining while surrounded by privacy and scenic views. Or relax on the front deck while enjoying the view of Seneca Lake. A detached two car heated garage with workshop area and additional storage barn provide ample space for any lake toys or hobby equipment.     As an added bonus, this property has strong short-term rental appeal with estimated Airbnb income of up to $5,000/month, making it an excellent opportunity for investors or owner-occupants looking to offset expenses! Located in the heart of the Finger Lakes, you’re just minutes from wineries, breweries, marinas, and all the region has to offer. Whether you’re looking to live, invest, or both—this is a rare opportunity to own a slice of the Finger Lakes lifestyle!

Key facts

• Open-concept kitchen
• Seneca lake views
• Finished basement

Tags

• SENECA LAKE VIEWS
• FINISHED BASEMENT
• OPEN-CONCEPT KITCHEN
• EXPANSIVE DECK
• DETACHED TWO CAR HEATED GARAGE
• STORAGE BARN

🏷️ Possibly a rental listed for sale. The $379,900 price doesn't fit this home's estimated sale value (~$891,696) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $380k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (48.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (48.9% below list).
• Recommended offer: $194k (48.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#983 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, health & safety D, crime F.
• Romulus Central School District (rural): math 46% / reading 45% proficiency, ranked #535 of 755 in NY (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 15 active listings in the ZIP; 48 units permitted in Seneca County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Seneca County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,060 (48.9% 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. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
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 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: 0.51% ✗
• Cap rate: 3.20%
• Cash-on-cash: -11.03%
• DSCR: 0.51
• GRM: 16.3

CMA / ARV

• ARV (median comp): $891,696
• List price: $379,900
• Delta: -57.40%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5270 E Lake Rd	0.15mi	3/2.0 (-1)	1,554 (+7%)	6mo	$800,000	$515	72

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

Projected returns pro-forma

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

5-year hold

• IRR: 16.1%
• Equity multiple: 2.33×
• Total profit: $141,080
• Equity at exit: $342,244

10-year hold

• IRR: 15.5%
• Equity multiple: 5.39×
• Total profit: $467,201
• Equity at exit: $738,062

Cash invested: $106,372 (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 14541

• Home prices YoY: 3.3%
• Active inventory: 15
• Price-to-rent: 16.3×

Monthly cashflow live

• Estimated rent: $1,941 medium
• Mortgage (P&I): −$1,992
• Tax from tax record: −$360 /mo · $4,325/yr
• Insurance: −$158
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-1,033

Break-even live

Break-even rent $3,249

Max offer price $197,348

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: $94,975
• Closing costs: $11,397
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-11
   status Pending 1817-char remark

   Show marketing remark (1817 chars)

   Welcome to 637 Hahnel Road in Romulus, NY—where peaceful country living meets breathtaking Seneca Lake views and incredible investment opportunity! Set on 1.22 acres, this well-maintained 3-bedroom, 2-bath home with a finished basement offers the perfect blend of comfort, space, and versatility. Whether you’re searching for a full-time residence, vacation getaway, or income-producing property, this one checks every box. Step inside to a warm and inviting interior featuring a stunning open-concept kitchen and dining room with cathedral ceiling, exposed beams, and natural wood finishes that create true Finger Lakes charm. The layout flows seamlessly into the dining and living spaces, making it ideal for entertaining or relaxing after a day on the lake. Downstairs, the finished basement provides additional living space with a second bath—perfect for a rec room or guest/primary suite. Outside is where this property truly shines, offering an expansive deck overlooking the backyard and pool, perfect for summertime entertaining while surrounded by privacy and scenic views. Or relax on the front deck while enjoying the view of Seneca Lake. A detached two car heated garage with workshop area and additional storage barn provide ample space for any lake toys or hobby equipment.     As an added bonus, this property has strong short-term rental appeal with estimated Airbnb income of up to $5,000/month, making it an excellent opportunity for investors or owner-occupants looking to offset expenses! Located in the heart of the Finger Lakes, you’re just minutes from wineries, breweries, marinas, and all the region has to offer. Whether you’re looking to live, invest, or both—this is a rare opportunity to own a slice of the Finger Lakes lifestyle!

2. 2026-04-15
   listed $379,900 Active 1817-char remark

   Show marketing remark (1817 chars)

   Welcome to 637 Hahnel Road in Romulus, NY—where peaceful country living meets breathtaking Seneca Lake views and incredible investment opportunity! Set on 1.22 acres, this well-maintained 3-bedroom, 2-bath home with a finished basement offers the perfect blend of comfort, space, and versatility. Whether you’re searching for a full-time residence, vacation getaway, or income-producing property, this one checks every box. Step inside to a warm and inviting interior featuring a stunning open-concept kitchen and dining room with cathedral ceiling, exposed beams, and natural wood finishes that create true Finger Lakes charm. The layout flows seamlessly into the dining and living spaces, making it ideal for entertaining or relaxing after a day on the lake. Downstairs, the finished basement provides additional living space with a second bath—perfect for a rec room or guest/primary suite. Outside is where this property truly shines, offering an expansive deck overlooking the backyard and pool, perfect for summertime entertaining while surrounded by privacy and scenic views. Or relax on the front deck while enjoying the view of Seneca Lake. A detached two car heated garage with workshop area and additional storage barn provide ample space for any lake toys or hobby equipment.     As an added bonus, this property has strong short-term rental appeal with estimated Airbnb income of up to $5,000/month, making it an excellent opportunity for investors or owner-occupants looking to offset expenses! Located in the heart of the Finger Lakes, you’re just minutes from wineries, breweries, marinas, and all the region has to offer. Whether you’re looking to live, invest, or both—this is a rare opportunity to own a slice of the Finger Lakes lifestyle!

3. 2026-04-13
   historical
4. 2025-10-13
   listed $430,000 Active
5. 2025-10-13
   historical
6. 2025-08-01
   listed $475,000 Active
7. 2025-08-01
   historical
8. 2025-06-10
   price $495,000
9. 2025-05-13
   listed $525,000 Active

ⓘ 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: $4,325 · $360/mo
• Projected year-2 tax: $5,372 · $448/mo
• Expected delta: +$1,048/yr (+$87/mo · 24.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,287
• − Mortgage interest: −$21,280
• − Property taxes: −$4,325
• − Insurance: −$2,566
• − Repairs & maintenance: −$1,863
• − Management: −$1,863
• − Depreciation: −$11,052
• Taxable loss: −$19,661
• Est. tax savings @ 24.0%: +$4,719
• After-tax cash flow: $-7,682/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: Romulus Central School District
• NCES district ID: 3624930
• Math proficiency: 46% ▼ -3.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $56,592
• Composite: 41.89/100
• National rank: #7126
• State rank: #535 of 755 in NY

Livability — Romulus

• Score: 60/100
• State rank: #983
• US rank: #19200

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,523

Population outlook (Seneca County) Hauer SSP2

• Today (2025): 33,457 people
• By 2030: 32,540 · -2.7%
• By 2040: 30,680 · -8.3%
• By 2050: 28,875 · -13.7%
• By 2075: 24,757 · -26.0%
• By 2100: 19,591 · -41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 3% Slovak 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 90% English-only · Spanish 5% German/W. Germanic 4% Other Indo-European 1%

Political lean MEDSL · Seneca

• 2024 margin: R (+11.8) · D 44.1% · R 55.9%
• 2008→2024 swing: -14.4pp toward R · 2008: 2.6pp · 2024: -11.8pp
• All cycles: 2024: R+11.8 2020: R+9.1 2016: R+12.1 2012: D+9.2 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.44%
• Current HPI: 354.6427
• 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

-27.6% since first listed

9 events — show timeline

• 2026-05-11 Pending — UNYREIS
• 2026-04-15 Listed $379,900 UNYREIS
• 2026-04-13 Listing Removed — UNYREIS
• 2025-10-13 Listing Removed — UNYREIS
• 2025-10-13 Listed $430,000 UNYREIS
• 2025-08-01 Listing Removed — UNYREIS
• 2025-08-01 Listed $475,000 UNYREIS
• 2025-06-10 Price Changed $495,000 UNYREIS
• 2025-05-13 Listed $525,000 UNYREIS

Property tax history

+1.7%/yr

Latest (2025): $4,325 · +7.8% YoY. Source: county tax records.