Northeast8.1% avg cap rate

Finger Lakes, NY

New York wine country — lakefront and winery STR market

The Finger Lakes region is New York's premier wine country, anchored by Seneca, Cayuga, and Keuka lakes and over 130 wineries. The market draws visitors from NYC, Boston, and Toronto for wine weekends, fall foliage, and summer lakefront recreation. Lakefront properties command significant premiums and the Cornell University/Ithaca feeder market provides year-round non-seasonal demand.

8.1%
Avg Cap Rate
Net operating income / price
61%
Avg Occupancy
Annual average
$265
Avg Nightly Rate
All property types
$385K
Median Price
STR-viable properties

Estimated Annual Performance

Gross rental revenue
61% occ × $265/night
$59,002
Est. operating expenses
Mgmt, cleaning, supplies, insurance (~40%)
– $23,601
Est. net operating income
Before mortgage & depreciation
$35,401
At median price
Implied cap rate
9.2%

* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.

Why Investors Choose Finger Lakes

130+ wineries — comparable wine tourism to Napa at a fraction of the price
Seneca Lake waterfront properties earn 2-3× inland comps
Cornell University and Ithaca College drive year-round non-seasonal bookings
Accessible entry prices relative to other Northeast STR markets
Peak season: June – Oct (wine harvest: Sept–Oct)
Top property types: Lakefront Home, Farmhouse, Cottage, Single Family
Primary zip: 14891, 14456, 14871, 14837

Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.

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