16 Coleman Ave · West Elmira, NY 14905

$239,000

3 bd · 1.5 ba · 1,997 sqft · SingleFamily public records · 29 Days on market

Built 1827 0.30 ac lot $120/sqft · 14% below area Est $278k · 14% under

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Why this score? — see what drove the C+ 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 +24.1/30.0
• ARV discount +13.8/15.0
• DSCR +7.8/10.0
• 1% rule +6.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Make this beautiful Cape Cod home your own! This home is in a great West Elmira location, with a terrific back-yard, ample parking and a 2 car garage. Wonderful sunroom, deck and Patio. NOTE: the owner was doing some renovations and they did not complete all. The kitchen will need new flooring material (already purchased), some walls need to be painted and the half-bath needs to be completed as well. , but do not let these projects stop you from considering the home. A wonderful and charming house. Please come take a look! Showings will begin on Sat 3/11/23

Key facts

• New boiler
• Poured patio
• Pergola

Tags

• NEW ROOF
• NEW BOILER
• ON DEMAND HOT WATER TANK
• EXTERIOR AND INTERIOR PAINT
• POURED PATIO
• PERGOLA

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water connected; Sewer available
• Home design: Single-story home; Wood siding; Resale condition
• Construction: Wood siding construction; Stone foundation; Existing (previously built)
• Exterior features: Blacktop driveway; Main thoroughfare frontage; Rectangular lot (approx. 0.2993 acres, dimensions 118 x 110)

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Luxury vinyl; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom (total two main-level bathrooms)
• Heating & cooling: Electric heating; Radiator heating
• Interior features: Breakfast bar; Bedroom on main level; Full basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $235k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.6% in West Elmira — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#341 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: amenities F, commute 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: 39 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; list at $239k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1827 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $235,415 (1.5% below list)

Questions for the listing agent

1. Built in 1827 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.17% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.45%
• DSCR: 1.38
• GRM: 7.1

CMA / ARV

• ARV (median comp): $277,804
• List price: $239,000
• Delta: -3.17%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
94 Evergreen Ave	0.29mi	4/2.0 (+1)	2,092 (+5%)	4mo	$195,000	$93	68
1307 W Church St	0.54mi	3/1.5	2,040 (+2%)	4mo	$245,000	$120	68
712 Fern Dell Dr	0.53mi	3/2.5	1,906 (-5%)	1mo	$314,900	$165	63
1719 W Church St	0.16mi	3/1.5	1,700 (-15%)	6mo	$249,000	$146	62
1418 W Water St	0.56mi	3/1.5	1,920 (-4%)	8mo	$131,500	$68	60
320 Glen Ave	0.33mi	3/2.0	1,760 (-12%)	7mo	$275,000	$156	57
1744 Parker Rd	0.34mi	4/2.5 (+1)	2,100 (+5%)	12mo	$310,000	$148	57
114 Country Club Dr	0.43mi	3/2.0	1,822 (-9%)	12mo	$215,000	$118	54
1518 W Water St	0.38mi	4/2.0 (+1)	2,278 (+14%)	2mo	$225,000	$99	50
1249 W Clinton St	0.66mi	4/2.5 (+1)	2,064 (+3%)	6mo	$274,900	$133	49
98 Morningside Dr	0.57mi	3/2.0	1,802 (-10%)	11mo	$205,000	$114	46
164 Coleman Ave	0.72mi	4/2.5 (+1)	2,272 (+14%)	6mo	$279,900	$123	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-8,605
• Equity at exit: $35,636

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $31,568
• Equity at exit: $20,664

Cash invested: $66,920 (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 14905

• Home prices YoY: -9.4%
• Active inventory: 39
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,803 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$390 /mo · $4,684/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $471

Break-even live

Break-even rent $2,207

Max offer price $239,000

Occupancy floor 78%

Sensitivity live

Price	-10% $607	-5% $539	+0% $471	+5% $404	+10% $336
Rent	-10% $250	-5% $361	+0% $471	+5% $582	+10% $693
Rate	-1.0pp $592	-0.5pp $532	base $471	+0.5pp $409	+1.0pp $346

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24 Forest Hills Dr Elmira, NY	3.0	2.0	1500	$2,995	$2.00	45d	1	0.24mi
1210 W Water St Elmira, NY	2.0	2.0	1340	$1,995	$1.49	45d	1	0.90mi

Listing history 23 events

1. 2026-06-21
   days on market $239,000 Active 29 DOM
2. 2026-06-19
   days on market $239,000 Active 27 DOM
3. 2026-06-18
   days on market $239,000 Active 26 DOM
4. 2026-06-17
   days on market $239,000 Active 25 DOM
5. 2026-06-16
   days on market $239,000 Active 24 DOM
6. 2026-06-15
   days on market $239,000 Active 23 DOM
7. 2026-06-14
   pricedays on market $239,000 Active 21 DOM
8. 2026-06-12
   days on market $249,000 Active 20 DOM
9. 2026-06-09
   days on market $249,000 Active 17 DOM
10. 2026-06-08
    days on market $249,000 Active 16 DOM
11. 2026-06-07
    days on market $249,000 Active 15 DOM
12. 2026-06-05
    days on market $249,000 Active 12 DOM
13. 2026-06-03
    days on market $249,000 Active 11 DOM
14. 2026-06-02
    days on market $249,000 Active 10 DOM
15. 2026-06-01
    days on market $249,000 Active 9 DOM
16. 2026-05-31
    days on market $249,000 Active 8 DOM
17. 2026-05-30
    days on market $249,000 Active 7 DOM
18. 2026-05-16
    price $259,000 653-char remark
19. 2026-04-16
    price $269,000 653-char remark
20. 2026-03-09
    listed $279,000 Active 653-char remark
21. 2023-06-15
    soldstatus $112,000
22. 2023-06-01
    soldstatus $112,000 566-char remark

    Show marketing remark (566 chars)

    Make this beautiful Cape Cod home your own! This home is in a great West Elmira location, with a terrific back-yard, ample parking and a 2 car garage. Wonderful sunroom, deck and Patio. NOTE: the owner was doing some renovations and they did not complete all. The kitchen will need new flooring material (already purchased), some walls need to be painted and the half-bath needs to be completed as well. , but do not let these projects stop you from considering the home. A wonderful and charming house. Please come take a look! Showings will begin on Sat 3/11/23

23. 2023-03-07
    listed $119,000 566-char remark

    Show marketing remark (566 chars)

    Make this beautiful Cape Cod home your own! This home is in a great West Elmira location, with a terrific back-yard, ample parking and a 2 car garage. Wonderful sunroom, deck and Patio. NOTE: the owner was doing some renovations and they did not complete all. The kitchen will need new flooring material (already purchased), some walls need to be painted and the half-bath needs to be completed as well. , but do not let these projects stop you from considering the home. A wonderful and charming house. Please come take a look! Showings will begin on Sat 3/11/23

ⓘ 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: $4,684 · $390/mo
• Projected year-2 tax: $4,684 · $390/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 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥95°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,640
• − Mortgage interest: −$13,388
• − Property taxes: −$4,684
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,691
• − Management: −$2,691
• − Depreciation: −$6,953
• Taxable income: $2,039
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $5,168/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 — West Elmira

• Score: 72/100
• State rank: #341
• US rank: #5769

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Elmira, NY
• City population: 8,976
• Population (ZIP): 8,976

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% Two or more races 7% Black 7% Hispanic / Latino 3% Asian 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 2% Chinese 1% Russian/Polish/Slavic 1%

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: ▼ -26.09%
• Current HPI: 252.0326
• 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

+100.8% since first listed

8 events — show timeline

• 2026-06-13 Price Changed $239,000 UNYREIS
• 2026-05-26 Price Changed $249,000 UNYREIS
• 2026-05-23 Listed $259,000 UNYREIS
• 2026-05-16 Price Changed $259,000 UNYREIS
• 2026-04-16 Price Changed $269,000 UNYREIS
• 2023-06-15 Sold (Public Records) $112,000 Public Records
• 2023-06-01 Sold (MLS) $112,000 UNYREIS
• 2023-03-07 Listed $119,000 UNYREIS

Property tax history

+5.1%/yr

Latest (2025): $4,684 · +4.7% YoY. Source: county tax records.