277 Sunset Dr · Corning, NY 14830

$77,000

4 bd · 2.0 ba · 2,260 sqft · SingleFamily public records · 10 Days on market

Built 1900 Fair condition 4,200 sqft lot $34/sqft · 65% 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
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• 4,200 sq ft lot
• Built 1900
• Listed 9 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $77k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $889 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $77k).
• Cap rate 20.1% vs local median 6.9% in Corning — 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 87/100 on livability (#14 in NY, #334 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: employment D.
• Corning City School District (town): math 44% / reading 53% proficiency, ranked #406 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frederick Carder Elementary School (math 44% / reading 50%, grade D-, #1,195 of 2,108 statewide, top 60%, 406 students, 39% FRL); Corning-Painted Post Middle School (math 22% / reading 48%, grade F, #480 of 729 statewide, top 66%, 962 students, 46% FRL); Corning-Painted Post High School (math 93% / reading 98%, grade A+, #82 of 1,100 statewide, top 7%, 1,463 students, 36% FRL).
• Market conditions: 142 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $532 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.58% ✓
• Cap rate: 20.14%
• Cash-on-cash: 49.46%
• DSCR: 3.20
• GRM: 3.2

CMA / ARV

• ARV (median comp): $219,863
• List price: $77,000
• Delta: -64.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
130 W 5th St	0.53mi	4/2.0	2,294 (+2%)	0mo	$240,000	$105	72
326 W 1st St	0.15mi	4/3.0	2,503 (+11%)	3mo	$330,000	$132	68
133 W 2nd St	0.35mi	5/3.0 (+1)	2,196 (-3%)	3mo	$217,500	$99	68
15 Grannan Dr	0.36mi	5/2.0 (+1)	2,152 (-5%)	3mo	$111,000	$52	68
17 Highland Dr	0.45mi	4/2.5	2,350 (+4%)	10mo	$250,000	$106	62
264 Walnut St	0.68mi	3/2.0 (-1)	2,278 (+1%)	7mo	$234,000	$103	57
136 W 5th St	0.52mi	4/2.0	2,138 (-5%)	13mo	$262,500	$123	56
266 W Third St	0.27mi	3/2.0 (-1)	2,016 (-11%)	11mo	$175,000	$87	56
46 W Fifth St	0.66mi	3/2.0 (-1)	2,239 (-1%)	11mo	$237,000	$106	54
180 W Pulteney St	0.49mi	4/2.5	2,556 (+13%)	1mo	$175,000	$68	52
22 W 5th St	0.69mi	4/2.5	2,088 (-8%)	2mo	$321,000	$154	51
229 Dodge Ave	0.75mi	4/1.5	2,082 (-8%)	4mo	$190,800	$92	47

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: 47.2%
• Equity multiple: 3.05×
• Total profit: $44,244
• Equity at exit: $11,481

10-year hold

• IRR: 52.9%
• Equity multiple: 6.19×
• Total profit: $111,905
• Equity at exit: $6,658

Cash invested: $21,560 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 18 under contract
• Months of supply: 1.1 mo (89%/mo absorbed)
• Median asking: $235,000 ($114/sqft)
• Median days on market: 7 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -15.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14830

• Active inventory: 142
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,989 medium
• Mortgage (P&I): −$404
• Tax from tax record: −$247 /mo · $2,963/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $889

Break-even live

Break-even rent $864

Max offer price $77,000

Occupancy floor 50%

Sensitivity live

Price	-10% $932	-5% $910	+0% $889	+5% $867	+10% $845
Rent	-10% $732	-5% $810	+0% $889	+5% $967	+10% $1,046
Rate	-1.0pp $927	-0.5pp $908	base $889	+0.5pp $869	+1.0pp $848

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: $19,250
• Closing costs: $2,310
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connectedHigh-speed internet availablePublic water connectedSewer connected
• Home design: Two-story propertyExisting condition
• Construction: Vinyl sidingMetal and shingle roofStone foundationBelow-grade finished area present
• Exterior features: DeckOpen porchGravel drivewayRectangular residential lot with city street frontageLot dimensions approximately 42 x 100

Interior

• Kitchen: Kitchen on first levelGas water heater
• Bedrooms: Three bedrooms on second level
• Flooring: CarpetVaried flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Heating details: see remarks
• Interior features: Ceiling fan(s)Pull-down attic stairsSecond kitchenHas full basement
• Laundry & utility: Laundry on main level

Listing history 5 events

1. 2026-08-08
   days on market $77,000 Active 10 DOM
2. 2026-08-07
   statusdays on market $77,000 Active 9 DOM
3. 2026-05-05
   status Pending 377-char remark
4. 2026-04-27
   listed $77,000 Active 377-char remark
5. 2003-11-17
   soldstatus $51,900

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°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: $23,870
• − Mortgage interest: −$4,313
• − Property taxes: −$2,963
• − Insurance: −$385
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − Depreciation: −$2,240
• Taxable income: $10,150
• Est. tax owed @ 24.0%: −$2,436
• After-tax cash flow: $8,228/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $56,500–$101,700 screening

This single-family home requires significant repairs and maintenance, including a new roof, siding, and landscaping, as well as updates to the interior and HVAC systems. These improvements would significantly increase its resale and rental value.

Repairs flagged

• Major roof — Signs of wear and discoloration suggest significant damage and potential water infiltration.
• Major siding — Peeling paint and siding indicate extensive damage and need for replacement.
• Major flooring — The carpeted flooring appears dirty and worn, requiring cleaning or replacement.
• Major interior walls — Peeling paint and discoloration suggest significant damage and need for repainting or replacement.
• Major landscaping — The overgrown landscaping and low curb appeal indicate a need for landscaping improvements and maintenance.
• Major driveway/walkway — The driveway and walkway appear to be in need of repair or resurfacing, affecting the overall appearance and usability of the property.

Value-add opportunities

• Resale New roof — A new roof would significantly improve the home's appearance and reduce the risk of water damage. ↑
• Resale New siding and paint — Updating the siding and repainting would greatly enhance the home's curb appeal and value. ↑
• Both Landscaping improvements — A well-maintained and landscaped yard would improve both the resale and rental value of the property. ↑
• Resale HVAC system replacement — A new HVAC system would improve comfort and energy efficiency, enhancing the home's appeal to potential buyers. ↑
• Resale Flooring replacement — New flooring would improve the home's appearance and increase its marketability. ↑
• Resale Interior painting — Repainting the interior walls would improve the home's appearance and make it more attractive to potential buyers. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 59/100

Zoned Schools

Elementary Frederick Carder Elementary School D- NY #1,195/2,108 Nat'l #14,504/41,679 Middle Corning-Painted Post Middle School F NY #480/729 Nat'l #7,460/14,009 High Corning-Painted Post High School A+ NY #82/1,100 Nat'l #115/17,239

Schools (NCES district)

• District: Corning City School District
• NCES district ID: 3608400
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 53% ▲ 4.00%
• Median HH income: $53,042
• Composite: 41.8/100
• National rank: #3392
• State rank: #406 of 590 in NY

A Composite livability gradescore 87/100

Livability — Corning

• Score: 87/100
• State rank: #14
• US rank: #334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corning, NY
• County: Steuben County · 93,062 people
• City population: 19,015
• Metro: Corning, NY
• Population (ZIP): 19,015
• Household income: $73,263
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 5% of renters

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Population outlook (Steuben County) Hauer SSP2

• Today (2025): 93,062 people
• By 2030: 89,793 · -3.5%
• By 2040: 82,353 · -11.5%
• By 2050: 74,286 · -20.2%
• By 2075: 55,589 · -40.3%
• By 2100: 37,587 · -59.6%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Asian/Pacific 1%

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Political lean MEDSL · Steuben

• 2024 margin: Solid R (+31.8) · D 34.1% · R 65.9%
• 2008→2024 swing: -15.0pp toward R · 2008: -16.8pp · 2024: -31.8pp
• All cycles: 2024: R+31.8 2020: R+29.6 2016: R+36.2 2012: R+16.4 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.59%
• Current HPI: 173.9857
• Rent YoY: —
• Metro: Corning, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Exterior

• Parking: No garage
• Utilities: Electricity connectedHigh-speed internet availablePublic water connectedSewer connected
• Home design: Two-story propertyExisting condition
• Construction: Vinyl sidingMetal and shingle roofStone foundationBelow-grade finished area present
• Exterior features: DeckOpen porchGravel drivewayRectangular residential lot with city street frontageLot dimensions approximately 42 x 100

Interior

• Kitchen: Kitchen on first levelGas water heater
• Bedrooms: Three bedrooms on second level
• Flooring: CarpetVaried flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Heating details: see remarks
• Interior features: Ceiling fan(s)Pull-down attic stairsSecond kitchenHas full basement
• Laundry & utility: Laundry on main level

Price history

+48.4% since first listed

3 events — show timeline

• 2026-05-05 Pending — UNYREIS
• 2026-04-27 Listed $77,000 UNYREIS
• 2003-11-17 Sold (Public Records) $51,900 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,963 · -1.9% YoY. Source: county tax records.