73 W Fourth St · Corning, NY 14830

$159,900

2 bd · 2.0 ba · 1,701 sqft · SingleFamily public records · 14 Days on market

Built 1895 Est $196k · 18% under

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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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +7.1/10.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming and well-maintained 3-bedroom, 2-bath home, perfectly situated in a convenient neighborhood full of character. Inside, you’ll find fresh updates including new carpet and stylish new flooring in both bathrooms. The thoughtful layout offers a first-floor bedroom and first-floor laundry, adding comfort and flexibility to fit your lifestyle. Enjoy the ease of off-street parking and a home that blends warmth, functionality, and everyday convenience. Don’t miss the opportunity to make this inviting space your own!

Key facts

• Built 1895
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).

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.
• Market conditions: 106 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 32% 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 $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1895 — 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. 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?
4. 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.
5. 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.
6. 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: 1.21% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.90%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $195,615
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 W 5th St	0.13mi	3/2.0 (+1)	1,710 (+0%)	12mo	$222,000	$130	78
241 Walnut St	0.08mi	3/1.5 (+1)	1,822 (+7%)	8mo	$85,000	$47	71
110 W 5th St	0.14mi	3/2.0 (+1)	1,805 (+6%)	9mo	$303,000	$168	71
239 W 1st St	0.42mi	3/2.0 (+1)	1,680 (-1%)	4mo	$170,000	$101	70
234 W 3rd St	0.35mi	3/1.5 (+1)	1,754 (+3%)	5mo	$145,000	$83	67
107 E Second St	0.42mi	3/2.0 (+1)	1,769 (+4%)	8mo	$132,000	$75	62
240 W 3rd St	0.36mi	3/1.5 (+1)	1,498 (-12%)	1mo	$140,000	$93	55
225 Second St W	0.36mi	3/1.5 (+1)	1,474 (-13%)	8mo	$210,000	$142	48
213 Wall St	0.36mi	3/2.0 (+1)	1,932 (+14%)	12mo	$260,000	$135	46
183 Columbia St	0.69mi	3/2.0 (+1)	1,586 (-7%)	12mo	$132,000	$83	42
249 Sunset Dr	0.49mi	3/2.5 (+1)	1,480 (-13%)	13mo	$216,500	$146	38
385 Sunset Dr	0.74mi	3/1.0 (+1)	1,474 (-13%)	7mo	$170,000	$115	28

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: 0.0%
• Equity multiple: 1.00×
• Total profit: $44
• Equity at exit: $23,842

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $33,576
• Equity at exit: $13,825

Cash invested: $44,772 (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 14830

• Active inventory: 106
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,941 high
• Mortgage (P&I): −$839
• Tax from tax record: −$221 /mo · $2,657/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $407

Break-even live

Break-even rent $1,426

Max offer price $159,900

Occupancy floor 74%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
262 Washington St Unit Upper Corning, NY	1.0	1.0	1930	$950	$0.49	43d	1	0.29mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	43d	1	0.59mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,295	$1.15	43d	3	0.82mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	43d	1	0.83mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	43d	1	1.21mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	43d	1	1.37mi

Listing history 2 events

1. 2026-04-27
   status Pending
2. 2026-04-13
   listed $159,900 Active

ⓘ 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: $2,657 · $221/mo
• Projected year-2 tax: $2,680 · $223/mo
• Expected delta: +$22/yr (+$2/mo · 0.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $23,293
• − Mortgage interest: −$8,957
• − Property taxes: −$2,657
• − Insurance: −$800
• − Repairs & maintenance: −$1,863
• − Management: −$1,863
• − Depreciation: −$4,652
• Taxable income: $2,501
• Est. tax owed @ 24.0%: −$600
• After-tax cash flow: $4,282/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: 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

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 · 41,193 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: 565.0

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 (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%

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

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

2 events — show timeline

• 2026-04-27 Pending — UNYREIS
• 2026-04-13 Listed $159,900 UNYREIS

Property tax history

+11.4%/yr

Latest (2025): $2,657 · -2.0% YoY. Source: county tax records.