Real Estate Investing in Smithville Flats, New York (13841)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 13841 (Smithville Flats, NY)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 26.9% 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 Smithville Flats, NY (13841)?
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Market Analysis: 13841 Smithville Flats
The 13841 ZIP in Smithville Flats, NY is a local-operator market. Outside capital chasing a $148K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $148K asset, 13841 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader NY picture, 13841 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Resident income in 13841 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 13841 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 Smithville Flats:
Market Trends
Home Value History (with trend line)
📊 How Does 13841 Compare?
| Metric | 13841 | Smithville Flats | Cortland, NY | New York |
|---|---|---|---|---|
| Home Value | $148,019 | $148,019 | N/A | $505,608 |
| 5-Year CAGR | 5.0% | 5.0% | N/A | 6.6% |
| Avg Rent | $1,089 | $1,089 | N/A | - |
| Cap Rate | 5.7% | 5.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 13841 (Smithville Flats, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $148,019 |
| Monthly Rent | $1,089 |
| Price-to-Rent | 11.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.8% |
| Cap Rate | 5.7% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +5.6% ▲ |
| 3-Year CAGR | +6.1% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +6.0% ▲ |
🏠 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 (5.7%). 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 13841
Population: 394
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
What is the average home sale price in Smithville Flats, NY?
Expect median prices around $148K in Smithville Flats, NY. The market has run at a 0.0% 5-year CAGR, so entry costs have been even-keeled.
How strong is tenant demand in Smithville Flats, NY?
Smithville Flats, NY draws a consistent base of working renters. Demand at the $1,089/mo rent level is reasonable for standard single-family and small multi rentals.
How tight is the rental market in Smithville Flats, NY?
Smithville Flats, NY carries elevated vacancy risk. Expect reliable absorption at market rents of $1,089/mo.
Are eviction rules reasonable in Smithville Flats, NY?
Smithville Flats, NY falls under NY landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
Is Smithville Flats, NY a good place for real estate investing?
Smithville Flats, NY records an investability rating of 3.0/5, with median home values near $148K and average rents around $1,089/mo. That combination puts it in the healthy tier for investor interest.
You know 13841 now. You don’t know where it ranks.
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How 13841 ranks in Cortland, NY
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