Real Estate Investing in Wilmington, New York (12997)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 12997 (Wilmington, NY)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 34.1% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 27.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wilmington, NY (12997)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 12997 Wilmington
Investors eyeing 12997 need to respect the fundamentals at play. Home values of $432K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 12997 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader NY picture, 12997 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Put differently, 1,280 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 12997 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Wilmington:
Property Strategy for 12997
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $327,448 | $1,450 | 3.2% | +10.7% | $163,724 |
| 3BR | $444,044 | $1,780 | 2.9% | +11.7% | $148,015 |
| 4BR | $588,731 | $2,010 | 2.5% | +10.5% | $147,183 |
Market Trends
Home Value History (with trend line)
📊 How Does 12997 Compare?
| Metric | 12997 | Wilmington | New York |
|---|---|---|---|
| Home Value | $431,852 | $431,852 | $505,608 |
| 5-Year CAGR | 8.9% | 8.9% | 6.6% |
| Avg Rent | $1,305 | $1,305 | - |
| Cap Rate | 2.4% | 2.4% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 12997 (Wilmington, NY). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 12997 (Wilmington, NY)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $431,852 |
| Monthly Rent | $1,305 |
| Price-to-Rent | 27.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.4% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +6.8% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +8.9% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 12997
Population: 1,280
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Investor Insight: With 736 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do experienced investors play Wilmington, NY?
Wilmington, NY investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($432K prices, $1,305/mo rents) make it a reasonable choice.
Does house hacking make sense in Wilmington, NY?
For house hackers, Wilmington, NY is a challenging. The $1,305/mo rent on a unit helps defray the mortgage on a $432K property.
What is the typical vacancy rate in Wilmington, NY?
Expect elevated vacancy in Wilmington, NY. Rents at $1,305/mo are absorbed by the tenant base without meaningful lag.
Is housing expensive in Wilmington, NY?
Expect median prices around $432K in Wilmington, NY. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
How does Wilmington, NY rate as a rental market?
Investors tracking Wilmington, NY will find a 3.0/5 rating supported by $432K median home values and $1,305/mo rents. That profile suits long-term holders targeting even-keeled returns.
You know 12997 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 12997 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
AI Market Advisor
Ask questions about investing in 12997 (Wilmington)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 12997 (Wilmington, NY).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.