372 Seneca Rd. Rd · North Hornell, NY 14843

$179,900

3 bd · 1.5 ba · 1,662 sqft · SingleFamily public records · 62 Days on market

Built 1875 7,540 sqft lot $108/sqft · 24% below area Est $235k · 24% 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).

• ARV discount +15.0/15.0
• Cash flow +11.6/30.0
• Appreciation +7.0/10.0
• 1% rule +4.4/10.0
• DSCR +3.4/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to your new home in North Hornell! This house sits on a corner lot and has beautiful wood trim, stained glass, vinyl replacement windows, and front & side porches with composite decking. 3 bedrooms, one with a walk-in closet that could serve as a nursery. Open flex space upstairs for play-room or office. Powder room off the kitchen and full bath upstairs. Laundry on second floor. Large lot ready for expansion!

Key facts

• Wood trim
• Stained glass
• Front porches

Tags

• CORNER LOT
• WOOD TRIM
• STAINED GLASS
• VINYL REPLACEMENT WINDOWS
• FRONT PORCHES
• SIDE PORCHES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-55 ($-663/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (5.5% below list).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#579 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools C-, crime D-, amenities F.
• Hornell City School District (town): math 33% / reading 49% proficiency, ranked #519 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.0% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $180k implies a 1099% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,106 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is D 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: 0.94% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.32%
• DSCR: 0.94
• GRM: 8.8

CMA / ARV

• ARV (median comp): $235,422
• List price: $179,900
• Delta: -23.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Elmwood Ave	0.10mi	4/1.5 (+1)	1,898 (+14%)	7mo	$152,700	$80	60
409 Seneca Rd	0.26mi	3/2.0	1,896 (+14%)	18mo	$324,900	$171	47
62 Adsit St	0.66mi	4/2.0 (+1)	1,476 (-11%)	11mo	$116,000	$79	35
444 Cleveland Ave	0.40mi	4/3.5 (+1)	1,904 (+15%)	12mo	$240,000	$126	34

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

Projected returns pro-forma

3.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.0%
• Equity multiple: 1.55×
• Total profit: $27,460
• Equity at exit: $90,663

10-year hold

• IRR: 11.1%
• Equity multiple: 2.83×
• Total profit: $91,975
• Equity at exit: $147,852

Cash invested: $50,372 (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 14843

• Home prices YoY: 1.9%
• Active inventory: 59
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,700 high
• Mortgage (P&I): −$943
• Tax from tax record: −$380 /mo · $4,559/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-55

Break-even live

Break-even rent $1,770

Max offer price $170,139

Occupancy floor 98%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Armory Pl Hornell, NY	2.0	1.0	2074	$1,200	$0.58	43d	1	0.82mi
14 Willow Pl Hornell, NY	4.0	2.0	1726	$2,000	$1.16	43d	1	0.90mi
54 Bemis Ave Hornell, NY	2.0	1.0	1801	$1,300	$0.72	43d	1	1.04mi
15 Hakes Ave Unit 102 Hornell, NY	4.0	2.0	2000	$2,195	$1.10	43d	1	1.17mi
7459 Seneca Rd N Hornell, NY	4.0	1.5	1200	$1,395	$1.16	43d	1	1.33mi
58 Elm St Hornell, NY	4.0	2.0	1600	$2,495	$1.56	43d	1	1.40mi

Listing history 4 events

1. 2026-05-18
   historical Active Under Contract 427-char remark

   Show marketing remark (427 chars)

   Welcome to your new home in North Hornell! This house sits on a corner lot and has beautiful wood trim, stained glass, vinyl replacement windows, and front & side porches with composite decking. 3 bedrooms, one with a walk-in closet that could serve as a nursery. Open flex space upstairs for play-room or office. Powder room off the kitchen and full bath upstairs. Laundry on second floor. Large lot ready for expansion!

2. 2026-04-27
   price $179,900 427-char remark

   Show marketing remark (427 chars)

   Welcome to your new home in North Hornell! This house sits on a corner lot and has beautiful wood trim, stained glass, vinyl replacement windows, and front & side porches with composite decking. 3 bedrooms, one with a walk-in closet that could serve as a nursery. Open flex space upstairs for play-room or office. Powder room off the kitchen and full bath upstairs. Laundry on second floor. Large lot ready for expansion!

3. 2026-03-20
   listed $184,900 Active 427-char remark

   Show marketing remark (427 chars)

   Welcome to your new home in North Hornell! This house sits on a corner lot and has beautiful wood trim, stained glass, vinyl replacement windows, and front & side porches with composite decking. 3 bedrooms, one with a walk-in closet that could serve as a nursery. Open flex space upstairs for play-room or office. Powder room off the kitchen and full bath upstairs. Laundry on second floor. Large lot ready for expansion!

4. 2007-11-29
   soldstatus $15,000

ⓘ 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: $4,559 · $380/mo
• Projected year-2 tax: $4,559 · $380/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,400
• − Mortgage interest: −$10,077
• − Property taxes: −$4,559
• − Insurance: −$900
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$5,233
• Taxable loss: −$3,633
• Est. tax savings @ 24.0%: +$872
• After-tax cash flow: $209/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: Hornell City School District
• NCES district ID: 3614820
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $40,251
• Composite: 34.33/100
• National rank: #5234
• State rank: #519 of 590 in NY

Livability — North Hornell

• Score: 67/100
• State rank: #579
• US rank: #10449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Hornell, NY
• County: Steuben County · 41,193 people
• Metro: Corning, NY
• Population (ZIP): 12,383
• Household income: $57,874
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 415.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Arabic 1% Spanish 1%

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: ▲ 3.95%
• Current HPI: 210.1986
• Rent YoY: —
• Metro: Corning, NY
• 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

+1099.3% since first listed

4 events — show timeline

• 2026-05-18 Contingent — UNYREIS
• 2026-04-27 Price Changed $179,900 UNYREIS
• 2026-03-20 Listed $184,900 UNYREIS
• 2007-11-29 Sold (Public Records) $15,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $4,559 · +7.7% YoY. Source: county tax records.