286 Main St · Wellsburg, NY 14894

$79,900

7 bd · 2.5 ba · 2,983 sqft · SingleFamily public records · 43 Days on market

Built 1855 0.36 ac lot $27/sqft · 71% below area

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Opportunity awaits in Wellsburg with this spacious 2 unit property. Lower level offers 3 bedrooms with one and a half baths, a spacious kitchen, full size dining room and living room. Upstairs provides a great amount space with 3 bedrooms and one bathroom. Tenants will enjoy private parking out back with a fenced in yard. Separate electric meters and a shared gas meter. Currently occupied with long term tenants who wish to stay. Lower level currently bringing in $1000 a month, and the upper unit is currently bringing in $750. Right off the bat the property offers outstanding ROI. TLC is needed.

Key facts

• Spacious kitchen
• Private parking
• Fenced in yard

Tags

• SPACIOUS KITCHEN
• FULL SIZE DINING ROOM
• PRIVATE PARKING
• FENCED IN YARD
• SEPARATE ELECTRIC METERS

Property features AI

Finance

• Other: Two separate electric meters and one shared gas meter
• Financial info: Multi-unit property with 2 total units; Operating expenses include fuel and water/sewer; Unit rents listed: one unit at $750, one unit at $1,000 (both month-to-month); Owner pays water

Exterior

• Parking: Parking available with two or more spaces
• Utilities: Water connected and public water available; Septic tank sewer
• Home design: Two-story building; Resale property; Vinyl and wood siding
• Construction: Vinyl siding and wood siding construction; Existing structure (built previously)
• Exterior features: Rectangular lot with approximately 100 x 155 dimensions; Main thoroughfare road frontage

Interior

• Kitchen: Gas water heater (water heating uses gas)
• Bedrooms: Two 3-bedroom units (each unit listed as 3 bedrooms)
• Flooring: Hardwood; Vinyl; Varies by area
• Bathrooms: Two full bathrooms and one half bathroom total across the property
• Heating & cooling: Gas forced-air heating
• Interior features: Hardwood and vinyl flooring; some areas vary in finish; Full basement
• Laundry & utility: Separate electric meters for units (2 electric meters); Single gas meter for property

What this means for you Summary

Snapshot

• This is a 7-bed/2.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $33 ($400/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,022 in NY) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, employment B; Watch: schools F, crime F, amenities F.
• Elmira City School District (urban): math 23% / reading 35% proficiency, ranked #580 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 active listings in the ZIP; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($552 loan paydown + $5k appreciation (6.7% local appreciation)).
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; flood insurance adds $460/mo; built in 1855 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1855 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.89% ✓
• Cap rate: 13.71%
• Cash-on-cash: 26.49%
• DSCR: 2.18
• GRM: 4.4

CMA / ARV

• ARV (median comp): $274,474
• List price: $79,900
• Delta: -70.89%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

6.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.7%
• Equity multiple: 2.30×
• Total profit: $29,015
• Equity at exit: $53,872

10-year hold

• IRR: 18.1%
• Equity multiple: 4.74×
• Total profit: $83,718
• Equity at exit: $101,004

Cash invested: $22,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14894

• Home prices YoY: 2.7%
• Active inventory: 3
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,510 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$247 /mo · $2,963/yr
• Insurance: −$33
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $33

Break-even live

Break-even rent $1,468

Max offer price $79,900

Occupancy floor 93%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $79,900 Active 43 DOM
2. 2026-06-18
   days on market $79,900 Active 42 DOM
3. 2026-06-17
   days on market $79,900 Active 41 DOM
4. 2026-06-16
   days on market $79,900 Active 40 DOM
5. 2026-06-15
   days on market $79,900 Active 39 DOM
6. 2026-06-14
   days on market $79,900 Active 37 DOM
7. 2026-06-12
   days on market $79,900 Active 36 DOM
8. 2026-06-09
   days on market $79,900 Active 33 DOM
9. 2026-06-08
   days on market $79,900 Active 32 DOM
10. 2026-06-07
    days on market $79,900 Active 31 DOM
11. 2026-06-05
    days on market $79,900 Active 28 DOM
12. 2026-06-03
    days on market $79,900 Active 27 DOM
13. 2026-06-02
    days on market $79,900 Active 26 DOM
14. 2026-06-01
    days on market $79,900 Active 25 DOM
15. 2026-05-31
    days on market $79,900 Active 24 DOM
16. 2026-05-30
    days on market $79,900 Active 23 DOM
17. 2026-05-07
    listed $79,900 Active 601-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $2,963 · $247/mo
• Projected year-2 tax: $2,963 · $247/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,122
• − Mortgage interest: −$4,476
• − Property taxes: −$2,963
• − Insurance: −$5,924
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$2,324
• Taxable loss: −$465
• Est. tax savings @ 24.0%: +$112
• After-tax cash flow: $512/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Elmira City School District
• NCES district ID: 3610560
• Math proficiency: 23% ▼ -7.00%
• Reading proficiency: 35% ▲ 7.00%
• Median HH income: $40,180
• Composite: 24.39/100
• National rank: #7688
• State rank: #580 of 590 in NY

Livability — Wellsburg

• Score: 59/100
• State rank: #1022
• US rank: #19960

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment B Housing A+ Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellsburg, NY
• Population (ZIP): 1,316

Population outlook (Chemung County) Hauer SSP2

• Today (2025): 82,931 people
• By 2030: 80,356 · -3.1%
• By 2040: 74,745 · -9.9%
• By 2050: 69,012 · -16.8%
• By 2075: 55,689 · -32.8%
• By 2100: 41,428 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 8% Two or more races 4% Hispanic / Latino 3% Native American 2%
• Common ancestry: Lithuanian 5% Romanian 4% Slovak 2%
• Foreign-born: 1% · India

Political lean MEDSL · Chemung

• 2024 margin: R (+16.8) · D 41.6% · R 58.4%
• 2008→2024 swing: -15.6pp toward R · 2008: -1.2pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+13.4 2016: R+20.0 2012: R+2.9 2008: R+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.71%
• Current HPI: 254.7355
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2026-05-07 Listed $79,900 UNYREIS

Property tax history

-0.8%/yr

Latest (2025): $2,963 · -21.0% YoY. Source: county tax records.