Real Estate Investing in Phelps, New York (14532)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 14532 (Phelps, NY)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.9% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Phelps, NY (14532)?
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Market Analysis: 14532 Phelps
ZIP 14532 inside Ontario County looks affordable on the surface — median value of $249K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 14532 is healthy only for operators who understand what they are buying. A $249K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Phelps have seen price recovery that 14532 has not matched. Ontario County data supports the view that the spread is structural rather than temporary.
Looking more closely, 3,933 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 14532 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 Phelps:
Property Strategy for 14532
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $183,924 | $1,290 | 5.0% | +7.3% | $91,962 |
| 3BR | $229,214 | $1,550 | 4.9% | +7.6% | $76,405 |
| 4BR | $262,279 | $1,710 | 4.7% | +7.9% | $65,570 |
Market Trends
Home Value History (with trend line)
📊 How Does 14532 Compare?
| Metric | 14532 | Phelps | Rochester, NY | New York |
|---|---|---|---|---|
| Home Value | $248,627 | $248,627 | N/A | $505,608 |
| 5-Year CAGR | 6.9% | 6.9% | N/A | 6.6% |
| Avg Rent | $1,161 | $1,161 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
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 14532 (Phelps, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $248,627 |
| Monthly Rent | $1,161 |
| Price-to-Rent | 17.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +9.7% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | +6.9% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 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 (3.6%). 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 14532
Population: 3,933
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 3,556 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Which real estate strategy fits Phelps, NY?
Phelps, NY investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($249K prices, $1,161/mo rents) make it a reasonable choice.
How do landlord-tenant laws work in Phelps, NY?
Landlord-friendliness in Phelps, NY is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Are homes affordable in Phelps, NY?
Expect median prices around $249K in Phelps, NY. The market has run at a 0.0% 5-year CAGR, so entry costs have been stable.
Can I house hack in Phelps, NY?
House hacking in Phelps, NY is a challenging. With home values around $249K and rents at $1,161/mo, owner-occupants can offset a meaningful share of PITI.
What kind of vacancy should I budget for in Phelps, NY?
Expect elevated vacancy in Phelps, NY. Rents at $1,161/mo are absorbed by the tenant base without meaningful lag.
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How 14532 ranks in Rochester, NY
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