622 Yale St · Southport, NY 14904

$90,000

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 56 Days on market

Built 1910 8,250 sqft lot $102/sqft · 25% below area Est $120k · 25% 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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

This cozy 3-bedroom home is just waiting to welcome you in! From the moment you step inside, you’ll feel the warmth and charm, with a bright eat-in kitchen, a spacious pantry. One of the true highlights is the enclosed porch—surrounded by windows and filled with natural light, it’s the perfect spot for morning coffee, a good book, or simply unwinding at the end of the day. Outside you’ll find a large, fully fenced-in backyard. There’s also off-street parking, a 1-car garage with an attached storage shed, plus a back porch/storage area for all your extras. With a newer water heater already in place and just a touch of TLC needed, this home offers the perfect ble

Key facts

• Spacious pantry
• Eat-in kitchen
• Enclosed porch

Tags

• EAT-IN KITCHEN
• SPACIOUS PANTRY
• ENCLOSED PORCH
• FULLY FENCED-IN BACKYARD
• OFF-STREET PARKING
• ATTACHED STORAGE SHED

Property features AI

Exterior

• Parking: Detached garage; One garage space
• Utilities: Public water connected; Septic sewer
• Home design: Single-story existing home
• Construction: Composite siding; Poured foundation
• Exterior features: Enclosed porch; Open porch; Fully fenced yard; Gravel driveway; Rectangular residential lot; City street frontage; Lot dimensions approximately 75 x 110

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Hardwood; Mixed/varied flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Bedroom on main level; Full basement; One fireplace
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $90k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.43% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.63%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (median comp): $119,940
• List price: $90,000
• Delta: -24.96%
• 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
635 Newtown St	0.14mi	2/1.0 (-1)	913 (+4%)	8mo	$123,500	$135	76
284 Universal Ave	0.41mi	2/1.0 (-1)	888 (+1%)	4mo	$159,900	$180	71
266 Robert St	0.46mi	3/1.0	864 (-2%)	5mo	$95,000	$110	71
268 Robert St	0.47mi	3/1.0	828 (-6%)	4mo	$75,000	$91	65
928 Cedar	0.31mi	2/1.0 (-1)	940 (+7%)	12mo	$110,000	$117	59
614 Chester St	0.73mi	2/1.0 (-1)	875 (-1%)	4mo	$112,765	$129	56
719 Dubois St	0.36mi	3/1.0	1,008 (+14%)	4mo	$120,000	$119	55
649 Newtown St	0.12mi	2/1.0 (-1)	768 (-13%)	16mo	$50,000	$65	54
763 Chester St	0.74mi	2/1.0 (-1)	864 (-2%)	4mo	$117,000	$135	54
650 Medina St	0.55mi	2/1.0 (-1)	857 (-3%)	17mo	$45,000	$53	50
235 Marion St	0.52mi	2/1.0 (-1)	828 (-6%)	14mo	$72,500	$88	49
604 Spruce St	0.49mi	2/1.0 (-1)	792 (-10%)	12mo	$79,000	$100	46

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: 10.4%
• Equity multiple: 1.41×
• Total profit: $10,352
• Equity at exit: $13,419

10-year hold

• IRR: 19.5%
• Equity multiple: 2.63×
• Total profit: $41,177
• Equity at exit: $7,782

Cash invested: $25,200 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,283 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$113 /mo · $1,357/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $391

Break-even live

Break-even rent $788

Max offer price $90,000

Occupancy floor 65%

Sensitivity live

Price	-10% $442	-5% $417	+0% $391	+5% $366	+10% $340
Rent	-10% $290	-5% $341	+0% $391	+5% $442	+10% $493
Rate	-1.0pp $437	-0.5pp $414	base $391	+0.5pp $368	+1.0pp $344

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 Allen St Elmira, NY	2.0	1.0	780	$950	$1.22	44d	1	0.50mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	0.81mi
711 W Water St Unit 1 Elmira, NY	2.0	1.0	590	$1,100	$1.86	44d	1	1.41mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	1.49mi

Listing history 19 events

1. 2026-06-19
   days on market $90,000 Active 56 DOM
2. 2026-06-18
   days on market $90,000 Active 55 DOM
3. 2026-06-17
   days on market $90,000 Active 54 DOM
4. 2026-06-16
   days on market $90,000 Active 53 DOM
5. 2026-06-16
   price $90,000 Active 52 DOM
6. 2026-06-15
   days on market $96,000 Active 52 DOM
7. 2026-06-14
   statusdays on market $96,000 Active 50 DOM
8. 2026-06-12
   days on market $96,000 Active Under Contract 49 DOM
9. 2026-06-09
   days on market $96,000 Active Under Contract 46 DOM
10. 2026-06-08
    days on market $96,000 Active Under Contract 45 DOM
11. 2026-06-07
    days on market $96,000 Active Under Contract 44 DOM
12. 2026-06-05
    days on market $96,000 Active Under Contract 41 DOM
13. 2026-06-03
    days on market $96,000 Active Under Contract 40 DOM
14. 2026-06-02
    statusdays on market $96,000 Active Under Contract 39 DOM
15. 2026-06-01
    days on market $96,000 Active 38 DOM
16. 2026-05-31
    days on market $96,000 Active 37 DOM
17. 2026-05-30
    days on market $96,000 Active 36 DOM
18. 2026-04-24
    listed $96,000 Active 867-char remark
19. 2006-09-10
    soldstatus $41,000

ⓘ 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: $1,357 · $113/mo
• Projected year-2 tax: $1,439 · $120/mo
• Expected delta: +$82/yr (+$7/mo · 6.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 71% 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: $15,399
• − Mortgage interest: −$5,041
• − Property taxes: −$1,357
• − Insurance: −$450
• − Repairs & maintenance: −$1,232
• − Management: −$1,232
• − Depreciation: −$2,618
• Taxable income: $3,468
• Est. tax owed @ 24.0%: −$832
• After-tax cash flow: $3,862/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

+119.5% since first listed

5 events — show timeline

• 2026-06-15 Price Changed $90,000 UNYREIS
• 2026-06-13 Relisted — UNYREIS
• 2026-06-02 Contingent — UNYREIS
• 2026-04-24 Listed $96,000 UNYREIS
• 2006-09-10 Sold (Public Records) $41,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,357 · +3.3% YoY. Source: county tax records.