906 Laurel St · Southport, NY 14904

$69,900

2 bd · 1.0 ba · 944 sqft · SingleFamily public records · 18 Days on market

Built 1950 6,400 sqft lot Est $104k · 33% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• 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

WELL MAINTAINED RANCH OFFERS LARGE BEDROOMS WITH H ARDWOOD FLOORS, NEW CERAMIC FLOOR IN BATH, AND NEW LAMINATE WOOD KITCHEN FLOOR. FULL EXPANDABLE BAS EMENT. FENCED YARD. NEWER CARPET. BRIGHT & PERK Y IN COMFORTABLE NEIGHBORHOOD.

Key facts

• Spacious backyard
• Newer roof
• Updated flooring

Tags

• NEWER ROOF
• UPDATED FLOORING
• SPACIOUS BACKYARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Septic tank sewer
• Home design: Single-story residence; Existing structure; Vinyl siding
• Construction: Block foundation; Vinyl siding construction
• Exterior features: Blacktop driveway; Rectangular lot (50 x 128); Main thoroughfare frontage

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Bedroom on main level; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 6.5% in Southport — 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 65/100 on livability (#690 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, employment D, health & safety D.
• 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; 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; 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 $483 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 3 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 $56k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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 D-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 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: 1.63% ✓
• Cap rate: 12.55%
• Cash-on-cash: 22.36%
• DSCR: 1.99
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $103,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
928 Cedar	0.12mi	2/1.0	940 (-0%)	12mo	$110,000	$117	83
635 Newtown St	0.32mi	2/1.0	913 (-3%)	8mo	$123,500	$135	73
284 Universal Ave	0.40mi	2/1.0	888 (-6%)	4mo	$159,900	$180	68
502 Morley Pl	0.17mi	2/1.0	896 (-5%)	20mo	$70,000	$78	68
916 Spruce St	0.13mi	2/1.0	1,008 (+7%)	20mo	$110,525	$110	66
820 Hazel St	0.20mi	3/1.0 (+1)	1,032 (+9%)	7mo	$147,187	$143	64
61 Dalrymple Ave	0.72mi	2/1.0	936 (-1%)	4mo	$75,000	$80	62
719 Dubois St	0.54mi	3/1.0 (+1)	1,008 (+7%)	4mo	$120,000	$119	55
266 Robert St	0.48mi	3/1.0 (+1)	864 (-8%)	5mo	$95,000	$110	54
268 Robert St	0.48mi	3/1.0 (+1)	828 (-12%)	4mo	$75,000	$91	49
650 Medina St	0.59mi	2/1.0	857 (-9%)	17mo	$45,000	$53	42
235 Marion St	0.62mi	2/1.0	828 (-12%)	14mo	$72,500	$88	39

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: 10.9%
• Equity multiple: 1.43×
• Total profit: $8,446
• Equity at exit: $10,422

10-year hold

• IRR: 20.0%
• Equity multiple: 2.69×
• Total profit: $33,044
• Equity at exit: $6,044

Cash invested: $19,572 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,137 high
• Mortgage (P&I): −$367
• Tax from tax record: −$138 /mo · $1,651/yr
• Insurance: −$29
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $309

Break-even live

Break-even rent $745

Max offer price $69,900

Occupancy floor 68%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 Broadway St Elmira, NY	1.0	1.0	700	$900	$1.29	43d	1	0.42mi
235 Allen St Elmira, NY	2.0	1.0	780	$950	$1.22	43d	1	0.60mi
550 Spruce St Unit 202 Elmira, NY	1.0	1.0	850	$1,150	$1.35	43d	1	0.66mi
752 S Main St Unit 2 Elmira, NY	1.0	1.0	841	$995	$1.18	43d	1	0.83mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	43d	1	0.95mi
808 Winsor Ave Elmira, NY	1.0	1.0	800	$1,200	$1.50	43d	1	1.48mi

Listing history 14 events

1. 2026-06-19
   days on market $69,900 Active 18 DOM
2. 2026-06-18
   days on market $69,900 Active 17 DOM
3. 2026-06-17
   days on market $69,900 Active 16 DOM
4. 2026-06-16
   days on market $69,900 Active 15 DOM
5. 2026-06-15
   days on market $69,900 Active 14 DOM
6. 2026-06-14
   days on market $69,900 Active 12 DOM
7. 2026-06-12
   days on market $69,900 Active 11 DOM
8. 2026-06-09
   days on market $69,900 Active 8 DOM
9. 2026-06-08
   days on market $69,900 Active 7 DOM
10. 2026-06-07
    days on market $69,900 Active 6 DOM
11. 2026-06-05
    days on market $69,900 Active 3 DOM
12. 2026-06-03
    days on market $69,900 Active 2 DOM
13. 2026-06-02
    remarks 421-char remark
14. 2026-06-02
    listed $69,900 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: $1,651 · $138/mo
• Projected year-2 tax: $1,651 · $138/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 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 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: $13,640
• − Mortgage interest: −$3,915
• − Property taxes: −$1,651
• − Insurance: −$1,016
• − Repairs & maintenance: −$1,091
• − Management: −$1,091
• − Depreciation: −$2,033
• Taxable income: $2,842
• Est. tax owed @ 24.0%: −$682
• After-tax cash flow: $3,028/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 — Southport

• Score: 65/100
• State rank: #690
• US rank: #13026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southport, 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

+39.8% since first listed

7 events — show timeline

• 2026-06-01 Listed $69,900 UNYREIS
• 2019-12-13 Listing Removed — UNYREIS
• 2019-06-13 Listed $61,000 UNYREIS
• 2002-05-31 Sold (Public Records) $56,000 Public Records
• 2002-05-31 Sold (MLS) $56,000 UNYREIS
• 2001-09-11 Listed $55,000 UNYREIS
• 1996-08-13 Sold (Public Records) $50,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,651 · +2.5% YoY. Source: county tax records.