291 Sunset Dr · Corning, NY 14830

$99,500

3 bd · 2.0 ba · 1,621 sqft · MultiFamily public records · 14 Days on market

Built 1900 4,200 sqft lot Est $144k · 31% 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 +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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great investment opportunity! Possible owner financing available, or make an all-cash offer. This 2-unit on Corning's South Hill neighborhood has completely separate utilities for each unit. FL2 is long-term tenant who pays all their utilities and FL1 has just been renovated and awaits your new tenant. Convenient to Market St and all that downtown Corning offers. Each apartment has 2 bedrooms and private outdoor space. Basement has walk-out on-grade access, check with your architect or engineer to see if it could be converted as living area for the FL1 unit. There is also a sub-basement level with no current access. FL1 unit entry is down exterior steps from the sidewalk, with a private fro

Key facts

• Covered front porch
• Separate utilities
• Private front patio

Tags

• SEPARATE UTILITIES
• PRIVATE OUTDOOR SPACE
• WALK-OUT ON-GRADE ACCESS
• PRIVATE FRONT PATIO
• COVERED FRONT PORCH
• ZONING R-2

Property features AI

Finance

• Financial info: Tenant pays all utilities; Operating expense details: see remarks

Exterior

• Parking: No driveway; On-street parking available; Parking available
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 3 stories; Existing property condition; Asphalt roof; Frame construction with vinyl siding
• Construction: Built previously (existing); Frame construction; Vinyl siding; Asphalt roof; Full basement with walk-out access
• Exterior features: Deck; Patio; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Bedroom on main level
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating; Stove heating; Forced air; Natural gas
• Interior features: Accessible bedroom; No stairs; Bedroom on main level; Full walk-out basement
• Laundry & utility: Gas water heater

🏷️ Possibly a rental listed for sale. The $99,500 price doesn't fit this home's estimated sale value (~$144,269) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $100k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $777/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $100k).
• Cap rate 25.0% vs local median 8.0% in Corning — 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 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; 5 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; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• At $2,894/mo this rent would consume 47% of the median local household income ($73k/yr) (locally 565% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,500

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.91% ✓
• Cap rate: 25.04%
• Cash-on-cash: 66.96%
• DSCR: 3.98
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $144,269
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 W Third St	0.47mi	4/2.0 (+1)	1,632 (+1%)	14mo	$145,000	$89	60
173 Walnut St	0.53mi	4/2.0 (+1)	1,536 (-5%)	2mo	$130,000	$85	60
16 Moresque Ln	0.61mi	3/2.0	1,498 (-8%)	14mo	$21,000	$14	48
178 W Pulteney St	0.47mi	3/2.0	1,800 (+11%)	18mo	$176,000	$98	45
7-9 Maple St	0.65mi	3/2.0	1,864 (+15%)	4mo	$165,000	$89	41

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: 66.3%
• Equity multiple: 3.98×
• Total profit: $82,964
• Equity at exit: $14,836

10-year hold

• IRR: 70.6%
• Equity multiple: 8.18×
• Total profit: $200,031
• Equity at exit: $8,603

Cash invested: $27,860 (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: 5.7×

Monthly cashflow live

• Estimated rent: $2,894 high
• Mortgage (P&I): −$522
• Tax from tax record: −$168 /mo · $2,020/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $1,555

Break-even live

Break-even rent $926

Max offer price $99,500

Occupancy floor 41%

Sensitivity live

Price	-10% $1,611	-5% $1,583	+0% $1,555	+5% $1,526	+10% $1,498
Rent	-10% $1,326	-5% $1,440	+0% $1,555	+5% $1,669	+10% $1,783
Rate	-1.0pp $1,605	-0.5pp $1,580	base $1,555	+0.5pp $1,529	+1.0pp $1,503

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,894
Total (2 units)			$2,894

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	44d	3	0.33mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	44d	1	0.68mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	44d	1	0.90mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	44d	1	0.99mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	44d	1	1.20mi

Listing history 11 events

1. 2026-06-19
   days on market $99,500 Active 14 DOM
2. 2026-06-18
   days on market $99,500 Active 13 DOM
3. 2026-06-17
   days on market $99,500 Active 12 DOM
4. 2026-06-16
   days on market $99,500 Active 11 DOM
5. 2026-06-15
   days on market $99,500 Active 10 DOM
6. 2026-06-14
   days on market $99,500 Active 8 DOM
7. 2026-06-12
   days on market $99,500 Active 7 DOM
8. 2026-06-09
   days on market $99,500 Active 4 DOM
9. 2026-06-08
   days on market $99,500 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $99,500 Active 2 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: $2,020 · $168/mo
• Projected year-2 tax: $2,020 · $168/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $34,728
• − Mortgage interest: −$5,574
• − Property taxes: −$2,020
• − Insurance: −$498
• − Repairs & maintenance: −$2,778
• − Management: −$2,778
• − Depreciation: −$2,895
• Taxable income: $18,186
• Est. tax owed @ 24.0%: −$4,365
• After-tax cash flow: $14,291/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

+397.5% since first listed

4 events — show timeline

• 2026-06-05 Listed $99,500 UNYREIS
• 2025-07-02 Listing Removed — UNYREIS
• 2025-06-28 Listing Removed — UNYREIS
• 2025-05-05 Listed $20,000 UNYREIS

Property tax history

+4.3%/yr

Latest (2025): $2,020 · -1.9% YoY. Source: county tax records.