5456 E Lake Rd · Chautauqua, NY 14728

$109,900

2 bd · 1.0 ba · 1,760 sqft · SingleFamily public records · 12 Days on market

Built 1950 Fair condition 5,227 sqft lot $62/sqft · 81% below area ↓ 45% 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 +18.9/30.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• DSCR +6.0/10.0
• Schools +5.3/10.0
• 1% rule +4.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Nestled in the heart of Dewittville's community, a piece of history is now available for purchase. Formerly known as the Sea Breeze Tavern, this property blends rich historical charm with modern potential, making it ideal for both residential and commercial endeavors. The property's flexible zoning allows for multiple uses. Whether you envision a cozy home, a bustling business or a combination of both, this location has the potential to fulfill your dreams. Located on the second floor, the 2 bedroom apartment (with the potential of 4 bedrooms with 2 bonus rooms. ) offers a spacious living area. This apartment adds to the property's versatility and value. A two car garage at the rear of the

Key facts

• Flexible zoning
• Spacious living area
• Two car garage

Tags

• FLEXIBLE ZONING
• SPACIOUS LIVING AREA
• TWO CAR GARAGE
• PRIME ROAD FRONTAGE
• VAST OPEN LAWN
• SEPTIC WATER ELECTRIC SUPPLY

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Security: No security features specified
• Utilities: Well water; Septic tank
• Home design: Two-story home; Existing (resale) property
• Construction: Wood siding construction
• Exterior features: Exterior details: see remarks; Rectangular residential lot; Lot dimensions approximately 42 x 124; Road frontage on city street and private road

Interior

• Kitchen: Water heater listed under appliances
• Bedrooms: 10 total rooms (bedroom count not specified)
• Flooring: Carpet and varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating details: see remarks
• Interior features: Eat-in kitchen; Other interior features (see remarks)
• Laundry & utility: Washer/dryer not specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (3.2% below list).
• Recommended offer: $106k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 0.2% in Chautauqua — 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 59/100 on livability (#1,029 in NY) — a working-class tenant base; expect higher turnover. Strengths: health & safety A+, crime A, cost of living A; Watch: amenities C-, commute C-, employment F.
• Chautauqua Lake Central School District (rural): math 65% / reading 59% proficiency, ranked #218 of 590 in NY (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chautauqua Lake Elementary School (math 57% / reading 57%, grade C+, #842 of 2,108 statewide, top 43%, 338 students, 50% FRL); Chautauqua Lake Secondary School (math 72% / reading 67%, grade B, #715 of 1,100 statewide, top 67%, 379 students, 48% FRL).
• Market conditions: 23 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 $6k of equity ($760 loan paydown + $5k appreciation (4.4% 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 (4.4% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $59k; list at $110k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,427 (3.2% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.97% ✗
• Cap rate: 7.53%
• Cash-on-cash: 4.41%
• DSCR: 1.20
• GRM: 8.6

CMA / ARV

• ARV (median comp): $570,211
• List price: $109,900
• Delta: -78.97%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

4.44% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.95×
• Total profit: $29,081
• Equity at exit: $58,603

10-year hold

• IRR: 16.1%
• Equity multiple: 3.71×
• Total profit: $83,435
• Equity at exit: $98,225

Cash invested: $30,772 (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 14728

• Home prices YoY: 1.3%
• Active inventory: 23
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$105 /mo · $1,266/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $113

Break-even live

Break-even rent $921

Max offer price $109,900

Occupancy floor 84%

Sensitivity live

Price	-10% $175	-5% $144	+0% $113	+5% $82	+10% $51
Rent	-10% $29	-5% $71	+0% $113	+5% $155	+10% $197
Rate	-1.0pp $169	-0.5pp $141	base $113	+0.5pp $85	+1.0pp $56

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-21
   days on market $109,900 Active 12 DOM
2. 2026-06-21
   days on market $109,900 Active 11 DOM
3. 2026-06-18
   days on market $109,900 Active 9 DOM
4. 2026-06-17
   days on market $109,900 Active 8 DOM
5. 2026-06-16
   days on market $109,900 Active 7 DOM
6. 2026-06-15
   days on market $109,900 Active 6 DOM
7. 2026-06-13
   days on market $109,900 Active 4 DOM
8. 2026-06-12
   days on market $109,900 Active 3 DOM
9. 2026-06-09
   pricedays on marketlisting id $109,900 Active 1 DOM
10. 2026-05-31
    days on market $119,900 Active 187 DOM
11. 2025-11-25
    listed $119,900 Active 1513-char remark
12. 2025-08-29
    soldstatus $58,850
13. 2023-11-08
    historical
14. 2022-11-29
    listed $200,000 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: $1,266 · $105/mo
• Projected year-2 tax: $1,561 · $130/mo
• Expected delta: +$296/yr (+$25/mo · 23.4%)

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

Taxation est. · year 1

• Rental income: $12,771
• − Mortgage interest: −$6,156
• − Property taxes: −$1,266
• − Insurance: −$550
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$3,197
• Taxable loss: −$440
• Est. tax savings @ 24.0%: +$106
• After-tax cash flow: $1,464/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This property requires significant exterior and interior repairs, but presents a good opportunity for renovation and increased value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major paint — Peeling paint on exterior and interior
• Major roof — Aged appearance, likely in need of replacement

Value-add opportunities

• Both exterior siding and paint — Enhances curb appeal and property value
• Both roof replacement — Improves property value and safety
• Both landscaping — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
paint · Peeling paint on exterior and interior	Major	$15,000–50,000
roof · Aged appearance, likely in need of replacement	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both exterior siding and paint — Enhances curb appeal and property value ↑
• Both roof replacement — Improves property value and safety ↑
• Both landscaping — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Chautauqua Lake Central School District
• NCES district ID: 3600018
• Math proficiency: 65% ▲ 4.00%
• Reading proficiency: 59% ▲ 7.00%
• Median HH income: $50,728
• Composite: 52.84/100
• National rank: #1535
• State rank: #218 of 590 in NY

Livability — Chautauqua

• Score: 59/100
• State rank: #1029
• US rank: #20164

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 292
• Population (ZIP): 856

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 (99%)
• Race & ethnicity: White 99% Hispanic / Latino 1%
• Common ancestry: Romanian 6% Lithuanian 2% Iranian 2%
• Foreign-born: 0%

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: ▲ 4.44%
• Current HPI: 336.7808
• 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

-45.1% since first listed

6 events — show timeline

• 2026-06-09 Listed $109,900 UNYREIS
• 2026-05-31 Listing Removed — UNYREIS
• 2025-11-25 Listed $119,900 UNYREIS
• 2025-08-29 Sold (Public Records) $58,850 Public Records
• 2023-11-08 Listing Removed — UNYREIS
• 2022-11-29 Listed $200,000 UNYREIS

Property tax history

+19.9%/yr

Latest (2025): $1,266 · +37.9% YoY. Source: county tax records.