Real Estate Investing in Erin, New York (14838)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 14838 (Erin, 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.
- Elevated vacancy: 9.1% 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 Erin, NY (14838)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 14838 Erin
The 14838 ZIP in Erin, NY is a local-operator market. Outside capital chasing a $207K entry has to pair deep knowledge with the discount.
The investment case in 14838 is durable only for operators who understand what they are buying. A $207K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Erin have seen price recovery that 14838 has not matched. Chemung County data supports the view that the spread is structural rather than temporary.
Demographically, 14838 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 14838 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Erin:
Property Strategy for 14838
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $155,075 | $1,160 | 5.4% | +5.3% | $77,538 |
| 3BR | $195,846 | $1,470 | 5.4% | +5.3% | $65,282 |
| 4BR | $228,092 | $1,550 | 4.9% | +7.6% | $57,023 |
Market Trends
Home Value History (with trend line)
📊 How Does 14838 Compare?
| Metric | 14838 | Erin | Elmira, NY | New York |
|---|---|---|---|---|
| Home Value | $207,132 | $207,132 | N/A | $505,608 |
| 5-Year CAGR | 5.3% | 5.3% | N/A | 6.6% |
| Avg Rent | $1,044 | $1,044 | N/A | - |
| Cap Rate | 3.9% | 3.9% | - | - |
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 14838 (Erin, NY). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 14838 (Erin, NY)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $207,132 |
| Monthly Rent | $1,044 |
| Price-to-Rent | 16.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 3.9% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +10.7% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 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 (3.9%). 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 14838
Population: 2,150
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 price range are homes in Erin, NY?
Homes in Erin, NY typically sell near $207K. Prices have moved at a 0.0% 5-year CAGR, which stable long-term demand.
Is Erin in NY worth investing in?
Erin, NY scores 3.0/5 for investability. Home values sit at $207K and rents near $1,044/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How quickly do rentals get leased in Erin, NY?
Vacancy in Erin, NY is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,044/mo.
Is Erin, NY landlord-friendly?
Landlord-friendliness in Erin, NY is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Which real estate strategy fits Erin, NY?
For Erin, NY, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 14838 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 14838 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 14838 ranks in Elmira, NY
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 14838 (Erin)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 14838 (Erin, NY).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.