Real Estate Investing in Prospect, New York (13435)
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Should you buy in 13435 (Prospect, NY)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 27.2% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Prospect, NY (13435)?
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Market Analysis: 13435 Prospect
Investors eyeing 13435 need to respect the fundamentals at play. Home values of $178K come alongside slower price movement and elevated management overhead.
For an experienced owner, 13435 can be a a credible choice for hunting ground — but the discount at $178K reflects genuine risk that outside investors often underestimate.
The gap between 13435 and stronger Prospect ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 13435 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 13435 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Prospect:
Market Trends
Home Value History (with trend line)
📊 How Does 13435 Compare?
| Metric | 13435 | Prospect | Utica-Rome, NY | New York |
|---|---|---|---|---|
| Home Value | $178,118 | $178,118 | N/A | $505,608 |
| 5-Year CAGR | 5.8% | 5.8% | N/A | 6.6% |
| Avg Rent | $972 | $972 | N/A | - |
| Cap Rate | 4.3% | 4.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 13435 (Prospect, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $178,118 |
| Monthly Rent | $972 |
| Price-to-Rent | 15.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +5.3% ▲ |
| 3-Year CAGR | +8.1% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | N/A |
🏠 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 (4.3%). 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 13435
Population: 337
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
Frequently Asked Questions
What is the rental occupancy rate in Prospect, NY?
Expect elevated vacancy in Prospect, NY. Rents at $972/mo are absorbed by the tenant base without meaningful lag.
What investment strategy works best in Prospect, NY?
Investors usually favor careful cash-flow rentals with hands-on management in Prospect, NY. With home values at $178K and rents near $972/mo, other strategies can work but produce stable rather than outsized returns.
What is the tenant pool like in Prospect, NY?
Working renters make up the core of the Prospect, NY tenant base. The pool is reasonable for investors targeting long-term holds.
Can I live-in-and-rent in Prospect, NY?
Prospect, NY offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $972/mo rent level.
What kind of market is Prospect, NY for investors?
Prospect, NY rates 3.0/5 for investability. With median values at $178K and rents near $972/mo, the market offers reasonable fundamentals for rental investors.
You know 13435 now. You don’t know where it ranks.
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How 13435 ranks in Utica-Rome, NY
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