Real Estate Investing in Wellesley Island, New York (13640)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 13640 (Wellesley Island, 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: 82.3% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- Higher unemployment: 10.7% unemployment — tenant risk signal.
- High price-to-rent: Price-to-rent ratio 39.0 — hard to cash-flow at these prices.
• 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 Wellesley Island, NY (13640)?
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Market Analysis: 13640 Wellesley Island
The 13640 ZIP in Wellesley Island, NY is a local-operator market. Outside capital chasing a $488K entry has to pair deep knowledge with the discount.
Rent of $1,044/mo on a $488K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 13640 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Wellesley Island have seen price recovery that 13640 has not matched. Jefferson data supports the view that the spread is structural rather than temporary.
Resident income in 13640 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 13640 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Wellesley Island:
Market Trends
Home Value History (with trend line)
📊 How Does 13640 Compare?
| Metric | 13640 | Wellesley Island | New York |
|---|---|---|---|
| Home Value | $488,188 | $488,188 | $505,608 |
| 5-Year CAGR | 10.7% | 10.7% | 6.6% |
| Avg Rent | $1,044 | $1,044 | - |
| Cap Rate | 1.7% | 1.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 13640 (Wellesley Island, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $488,188 |
| Monthly Rent | $1,044 |
| Price-to-Rent | 39.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.6% |
| Cap Rate | 1.7% |
| 5-Year IRR | 12.4% |
📈 Home Appreciation
| 1-Year | +12.8% ▲ |
| 3-Year CAGR | +9.4% ▲ |
| 5-Year CAGR | +10.7% ▲ |
| 10-Year CAGR | +8.7% ▲ |
🏠 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 (1.7%). 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 13640
Population: 305
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
Frequently Asked Questions
Do landlords face vacancy issues in Wellesley Island, NY?
Wellesley Island, NY vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What is the typical rental rate in Wellesley Island, NY?
Rent in Wellesley Island, NY is around $1,044/mo. The resulting rent-to-value relationship with $488K pricing is reasonable for most investor models.
Is Wellesley Island, NY good for landlords?
Wellesley Island, NY operates under NY law, which is tenant-protective overall for landlords. Expect steady treatment in typical lease and eviction cases.
How strong is the working-renter base in Wellesley Island, NY?
Tenant quality in Wellesley Island, NY ranks as solid. Landlords generally report consistent occupancy at market rents of $1,044/mo.
How does Wellesley Island, NY stack up for property investment?
With a 3.0/5 investability score, Wellesley Island, NY ranks as a solid market for rental property investors. Median prices of $488K and rents of $1,044/mo drive the underlying numbers.
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