Real Estate Investing in Alfred, New York (14802)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 14802 (Alfred, 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.
- High vacancy: 18.9% of homes vacant — above national norms.
- 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 Alfred, NY (14802)?
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Market Analysis: 14802 Alfred
Not every below-median market is a bargain. Alfred's 14802 ZIP reports signals that favor experienced operators who can absorb the risk $202K pricing implies.
For an experienced owner, 14802 can be a a viable market for hunting ground — but the discount at $202K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Alfred have seen price recovery that 14802 has not matched. Allegany County data supports the view that the spread is structural rather than temporary.
The demographic picture in 14802 includes headwinds that any investor should price in. Income distribution skews lower than Alfred averages, and tenant stability requires active management.
Distressed ZIPs reward experience. durable returns are possible in 14802, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Alfred:
Market Trends
Home Value History (with trend line)
📊 How Does 14802 Compare?
| Metric | 14802 | Alfred | New York |
|---|---|---|---|
| Home Value | $202,393 | $202,393 | $505,608 |
| 5-Year CAGR | 8.1% | 8.1% | 6.6% |
| Avg Rent | $891 | $891 | - |
| Cap Rate | 3.4% | 3.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 14802 (Alfred, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $202,393 |
| Monthly Rent | $891 |
| Price-to-Rent | 18.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 11.5% |
📈 Home Appreciation
| 1-Year | +8.0% ▲ |
| 3-Year CAGR | +8.1% ▲ |
| 5-Year CAGR | +8.1% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 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 (3.4%). 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 14802
Population: 4,627
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
Do landlords face vacancy issues in Alfred, NY?
Alfred, NY sees elevated vacancy, which is reasonable relative to the broader NY rental market.
Are landlord laws favorable in Alfred, NY?
NY law tenant-protective for landlords, and Alfred inherits those rules. Investors should still review local ordinances for rental licensing.
How does Alfred, NY rate as a rental market?
Yes - Alfred, NY a 3.0/5 investability score. With $202K home prices against $891/mo monthly rent, the market delivers a reasonable entry point for new investors.
Is Alfred, NY suited for a house hack?
Alfred, NY is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $202K price point reasonable to enter.
Is Alfred, NY better for rentals, flips, or BRRRR?
Investors usually favor careful cash-flow rentals with hands-on management in Alfred, NY. With home values at $202K and rents near $891/mo, other strategies can work but produce reliable rather than outsized returns.
You know 14802 now. You don’t know where it ranks.
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