410 W Broad St · Horseheads, NY 14845

$59,900

1 bd · 1.0 ba · 3,395 sqft · SingleFamily public records · 6 Days on market

Built 1902 7,841 sqft lot

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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 +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Former St. Mary's Church. A very unique space to live/work or both. Great details will lend to a great living environment. Currently mostly wide open space with balcony. Solid brick construction with slate roof. Electrical service is updated. Zoned for 1 or 2 family use. Owner may finance to qualified buyer.

Key facts

• Corner lot
• 7,841 sq ft lot
• Built 1902

Tags

• CORNER LOT
• STAINED GLASS WINDOWS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $73 ($880/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 17.0% vs local median 5.1% in Horseheads — 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 69/100 on livability (#494 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: crime D+, health & safety D, amenities F.
• Horseheads Central School District (suburban): math 44% / reading 58% proficiency, ranked #347 of 590 in NY (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Horseheads Middle School (math 29% / reading 50%, grade F, #418 of 729 statewide, top 59%, 572 students, 36% FRL); Horseheads Senior High School (math 95% / reading 98%, grade A+, #59 of 1,100 statewide, top 6%, 1,142 students, 27% FRL).
• Zoned-school proficiency averages 68% at this address vs 51% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Horseheads Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 92 active listings in the ZIP; 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 $414 of loan paydown is wiped out by about $2k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 18y 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 $45k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1902 — 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 $59,900

Questions for the listing agent

1. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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?
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: 2.06% ✓
• Cap rate: 16.99%
• Cash-on-cash: 38.19%
• DSCR: 2.70
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-4,718
• Equity at exit: $8,931

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $3,202
• Equity at exit: $5,179

Cash invested: $16,772 (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 14845

• Home prices YoY: -24.9%
• Active inventory: 92
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$104 /mo · $1,249/yr
• Insurance: −$25
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $73

Break-even live

Break-even rent $1,144

Max offer price $59,900

Occupancy floor 89%

Sensitivity live

Price	-10% $107	-5% $90	+0% $73	+5% $56	+10% $39
Rent	-10% $-24	-5% $24	+0% $73	+5% $122	+10% $171
Rate	-1.0pp $103	-0.5pp $89	base $73	+0.5pp $58	+1.0pp $42

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2025-10-08
   status Pending
2. 2025-10-02
   listed $59,900 Active
3. 2021-04-26
   soldstatus $45,000
4. 2021-04-23
   soldstatus $45,000 309-char remark

   Show marketing remark (309 chars)

   Former St. Mary's Church. A very unique space to live/work or both. Great details will lend to a great living environment. Currently mostly wide open space with balcony. Solid brick construction with slate roof. Electrical service is updated. Zoned for 1 or 2 family use. Owner may finance to qualified buyer.

5. 2020-12-06
   listed $49,900 309-char remark

   Show marketing remark (309 chars)

   Former St. Mary's Church. A very unique space to live/work or both. Great details will lend to a great living environment. Currently mostly wide open space with balcony. Solid brick construction with slate roof. Electrical service is updated. Zoned for 1 or 2 family use. Owner may finance to qualified buyer.

6. 2020-05-02
   historical
7. 2020-01-25
   listed $69,900
8. 2019-04-29
   soldstatus $28,000
9. 2009-09-01
   soldstatus $33,148
10. 2009-06-16
    historical
11. 2008-12-16
    listed $49,900
12. 2008-07-14
    soldstatus $45,000

ⓘ 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: $1,249 · $104/mo
• Projected year-2 tax: $1,249 · $104/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 AE · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,839
• − Mortgage interest: −$3,355
• − Property taxes: −$1,249
• − Insurance: −$5,824
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$1,743
• Taxable income: $293
• Est. tax owed @ 24.0%: −$70
• After-tax cash flow: $809/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: Horseheads Central School District
• NCES district ID: 3614850
• Math proficiency: 44% ▼ -19.00%
• Reading proficiency: 58% ▲ 3.00%
• Median HH income: $60,594
• Composite: 44.58/100
• National rank: #2781
• State rank: #347 of 590 in NY

Livability — Horseheads

• Score: 69/100
• State rank: #494
• US rank: #8689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Horseheads, NY
• Population (ZIP): 20,552

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Asian 2% Hispanic / Latino 2% Black 2%
• Common ancestry: Romanian 6% Slovak 2% Iranian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 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: ▼ -82.23%
• Current HPI: 247.777
• 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

+33.1% since first listed

12 events — show timeline

• 2025-10-08 Pending — IBRMLS
• 2025-10-02 Listed $59,900 IBRMLS
• 2021-04-26 Sold (Public Records) $45,000 Public Records
• 2021-04-23 Sold (MLS) $45,000 UNYREIS
• 2020-12-06 Listed $49,900 UNYREIS
• 2020-05-02 Listing Removed — UNYREIS
• 2020-01-25 Listed $69,900 UNYREIS
• 2019-04-29 Sold (Public Records) $28,000 Public Records
• 2009-09-01 Sold (Public Records) $33,148 Public Records
• 2009-06-16 Listing Removed — UNYREIS
• 2008-12-16 Listed $49,900 UNYREIS
• 2008-07-14 Sold (Public Records) $45,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,249 · +3.2% YoY. Source: county tax records.