Real Estate Investing in Hammondsport, New York (14840)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 14840 (Hammondsport, 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: 56.9% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 33.7 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hammondsport, NY (14840)?
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Market Analysis: 14840 Hammondsport
Not every below-median market is a bargain. Hammondsport's 14840 ZIP shows signals that favor experienced operators who can absorb the risk $353K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 14840 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within NY, ZIP 14840 trails on several market indicators that neighboring Steuben County submarkets outperform. The gap is real and resilient enough to shape underwriting.
Who lives in 14840 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 14840 is an operator game, not a passive one. From an investor standpoint, entry prices of $353K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Hammondsport:
Property Strategy for 14840
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $161,820 | $780 | 3.5% | +7.6% | $161,820 |
| 2BR | $292,038 | $970 | 2.4% | +8.5% | $146,019 |
| 3BR | $379,380 | $1,270 | 2.4% | +8.5% | $126,460 |
| 4BR | $507,840 | $1,630 | 2.3% | +8.4% | $126,960 |
| 5BR | $543,742 | — | — | — | $108,748 |
Market Trends
Home Value History (with trend line)
📊 How Does 14840 Compare?
| Metric | 14840 | Hammondsport | Corning, NY | New York |
|---|---|---|---|---|
| Home Value | $352,700 | $352,700 | N/A | $505,608 |
| 5-Year CAGR | 7.2% | 7.2% | N/A | 6.6% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 1.9% | 1.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 14840 (Hammondsport, NY). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $352,700 |
| Monthly Rent | $873 |
| Price-to-Rent | 33.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.0% |
| Cap Rate | 1.9% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +11.4% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 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 (1.9%). 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 14840
Population: 2,514
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
🎓 Schools in 14840
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What kind of market is Hammondsport, NY for investors?
Hammondsport, NY rates 3.0/5 for investability. With median values at $353K and rents near $873/mo, the market offers reasonable fundamentals for rental investors.
What kind of vacancy should I budget for in Hammondsport, NY?
Expect elevated vacancy in Hammondsport, NY. Rents at $873/mo are absorbed by the tenant base without meaningful lag.
How qualified is the tenant pool in Hammondsport, NY?
Hammondsport, NY draws a reliable base of working renters. Demand at the $873/mo rent level is reasonable for standard single-family and small multi rentals.
Where do home prices stand in Hammondsport, NY?
Typical homes in Hammondsport, NY go for around $353K. The 5-year CAGR of 0.0% consistent price movement.
How do experienced investors play Hammondsport, NY?
For Hammondsport, 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 14840 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 14840 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 14840 ranks in Corning, NY
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