410 Race St · Elmira, NY 14904

$124,900

3 bd · 1.5 ba · 1,280 sqft · SingleFamily public records · 17 Days on market

Built 1910 6,032 sqft lot Est $124k · at est.

---

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 +23.4/30.0
• DSCR +7.5/10.0
• 1% rule +7.2/10.0
• ARV discount +7.2/15.0
• Livability +3.1/5.0
• 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

Looking for a perfect starter home? Look no further, this charming, well maintained home on a quiet street has a lot to offer! Featuring almost all new replacement windows, a large open floor plan in the kitchen, brand new full bathroom upstairs, and a cozy wrap around deck to enjoy your time in the backyard! All tied together with beautiful woodwork throughout the entire house! Come take a peek and see if this is the home you've been waiting for. This home is part of the 100% money back guarantee program. Certain terms & conditions apply.

Key facts

• Private yard
• Deck
• 6,032 sq ft lot

Tags

• FULLY FENCED BACKYARD
• PRIVATE YARD
• DECK
• CLEAN AND DRY BASEMENT
• PLENTY OF STORAGE SPACE

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: 2 stories; Existing construction
• Construction: Wood siding; Block foundation
• Exterior features: Blacktop driveway; Rectangular lot (50 x 120)

Interior

• Kitchen: Gas oven; Gas range; Range hood; Refrigerator; Exhaust fan
• Bedrooms: Total rooms: 9 (includes den and laundry)
• Flooring: Hardwood; Laminate; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas heating; Forced air
• Interior features: Breakfast bar; Ceiling fan(s); Den; Separate/formal dining room; Has full basement
• Laundry & utility: Washer; Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#832 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; 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: 101 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $864 of loan paydown is wiped out by about $4k 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 17 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $82k; list at $125k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,026 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $124,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
834 Maple Ave	0.16mi	3/2.0	1,246 (-3%)	1mo	$135,000	$108	86
502 Luce St	0.13mi	3/1.5	1,344 (+5%)	7mo	$115,000	$86	80
236 E Miller St	0.28mi	3/1.0	1,248 (-2%)	7mo	$120,840	$97	75
420 Schuyler Ave	0.17mi	3/1.0	1,152 (-10%)	2mo	$154,148	$134	72
567 Riverside Ave	0.37mi	3/2.0	1,210 (-6%)	1mo	$145,000	$120	71
433 Schuyler Ave	0.16mi	3/1.0	1,156 (-10%)	5mo	$140,500	$122	70
418 Milton St	0.30mi	3/1.0	1,178 (-8%)	4mo	$155,000	$132	68
523 Gaines St	0.21mi	4/1.0 (+1)	1,163 (-9%)	2mo	$94,000	$81	66
115 Willys St	0.53mi	3/1.0	1,206 (-6%)	3mo	$84,900	$70	61
541 Gaines St	0.28mi	4/1.0 (+1)	1,128 (-12%)	4mo	$93,000	$82	56
310 Sly St	0.72mi	3/1.5	1,359 (+6%)	6mo	$75,000	$55	51
212 Mechanic St	0.49mi	2/1.0 (-1)	1,172 (-8%)	8mo	$28,000	$24	50

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-5,380
• Equity at exit: $18,623

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $14,698
• Equity at exit: $10,799

Cash invested: $34,972 (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 14904

• Home prices YoY: -9.6%
• Active inventory: 101
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,524 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$265 /mo · $3,177/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $232

Break-even live

Break-even rent $1,230

Max offer price $124,900

Occupancy floor 80%

Sensitivity live

Price	-10% $303	-5% $267	+0% $232	+5% $197	+10% $161
Rent	-10% $112	-5% $172	+0% $232	+5% $292	+10% $352
Rate	-1.0pp $295	-0.5pp $264	base $232	+0.5pp $200	+1.0pp $167

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	44d	1	0.80mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	1.13mi
1254 Charles St Elmira, NY	2.0	1.0	1560	$1,350	$0.87	44d	1	1.34mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	1.35mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	1.41mi

Listing history 13 events

1. 2026-06-19
   days on market $124,900 Active 17 DOM
2. 2026-06-18
   days on market $124,900 Active 16 DOM
3. 2026-06-17
   days on market $124,900 Active 15 DOM
4. 2026-06-16
   days on market $124,900 Active 14 DOM
5. 2026-06-15
   days on market $124,900 Active 13 DOM
6. 2026-06-14
   days on market $124,900 Active 11 DOM
7. 2026-06-12
   days on market $124,900 Active 10 DOM
8. 2026-06-09
   days on market $124,900 Active 7 DOM
9. 2026-06-08
   days on market $124,900 Active 6 DOM
10. 2026-06-07
    days on market $124,900 Active 5 DOM
11. 2026-06-05
    days on market $124,900 Active 2 DOM
12. 2026-06-03
    remarks 682-char remark
13. 2026-06-03
    listed $124,900 Active 1 DOM

ⓘ 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: $3,177 · $265/mo
• Projected year-2 tax: $3,177 · $265/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 4/10 Moderate FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 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: $18,283
• − Mortgage interest: −$6,996
• − Property taxes: −$3,177
• − Insurance: −$624
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − Depreciation: −$3,633
• Taxable income: $927
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $2,560/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 — Elmira

• Score: 62/100
• State rank: #832
• US rank: #16139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmira, NY
• Population (ZIP): 14,276

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 7% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica, Dominican Republic
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -23.33%
• Current HPI: 220.688
• 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

+267.4% since first listed

11 events — show timeline

• 2026-06-02 Listed $124,900 UNYREIS
• 2021-01-07 Sold (Public Records) $82,353 Public Records
• 2020-12-28 Sold (MLS) $84,900 UNYREIS
• 2020-09-28 Listed $84,900 UNYREIS
• 2011-02-10 Sold (Public Records) $67,500 Public Records
• 2011-02-10 Sold (MLS) $67,500 UNYREIS
• 2010-06-23 Listed $69,000 UNYREIS
• 2002-02-12 Sold (Public Records) $38,000 Public Records
• 2002-02-08 Sold (MLS) $38,000 UNYREIS
• 2001-10-12 Listed $39,900 UNYREIS
• 1992-02-18 Sold (Public Records) $34,000 Public Records

Property tax history

+10.3%/yr

Latest (2025): $3,177 · -12.2% YoY. Source: county tax records.