614 Winsor Ave · Elmira, NY 14905

$75,000

4 bd · 2.0 ba · 2,096 sqft · MultiFamily public records · 6 Days on market

Built 1885 6,040 sqft lot Est $90k · 17% 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 +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• 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 MLS

House has been gutted and partially remodeled. Furance, Hot water tank and 2 A/C units have not been tested. Some new windows and electric has been run.

Key facts

• 6,040 sq ft lot
• Built 1885
• Listed 5 days

Property features AI

Finance

• Financial info: Tenant(s) pay all utilities; Operating expense details: see remarks

Exterior

• Parking: On-street parking
• Utilities: Public water connected; Sewer connected
• Home design: Two-story property; Resale condition
• Construction: Cedar construction
• Exterior features: Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: 2-unit property (units total: 2)
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Each unit has separate gas and electric meters

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.5-bath units multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $663/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $75k).
• Cap rate 27.5% vs local median 10.1% in Elmira — 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 62/100 on livability (#832 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• 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: 39 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $519 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 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 $18k; list at $75k implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1885 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

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 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 3.40% ✓
• Cap rate: 27.50%
• Cash-on-cash: 75.75%
• DSCR: 4.37
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $90,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 W 1st St	0.29mi	5/2.0 (+1)	2,014 (-4%)	5mo	$50,000	$25	71
200 Harmon St	0.62mi	4/2.0	2,095 (-0%)	3mo	$24,900	$12	68
409-411 Hoffman St	0.42mi	4/3.0	2,040 (-3%)	10mo	$245,000	$120	64
405 W 1st St	0.42mi	4/2.0	1,926 (-8%)	8mo	$109,000	$57	61
355 Walnut St	0.33mi	4/2.5	1,864 (-11%)	5mo	$80,000	$43	60
428 W 4th St	0.63mi	5/2.0 (+1)	2,040 (-3%)	2mo	$44,000	$22	60
239 Mount Zoar St	0.73mi	4/2.0	2,045 (-2%)	6mo	$100,000	$49	57
509 Columbia St	0.66mi	4/2.0	2,016 (-4%)	8mo	$33,000	$16	56
336 Broadway St	0.55mi	4/2.0	1,957 (-7%)	12mo	$93,100	$48	54
407 Elm St	0.44mi	4/2.0	2,372 (+13%)	5mo	$105,000	$44	53
738 W 1st St	0.38mi	3/2.5 (-1)	2,326 (+11%)	6mo	$90,000	$39	52
433 Pine St	0.61mi	3/2.0 (-1)	1,798 (-14%)	1mo	$25,000	$14	42

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: 75.7%
• Equity multiple: 4.45×
• Total profit: $72,422
• Equity at exit: $11,183

10-year hold

• IRR: 79.4%
• Equity multiple: 9.21×
• Total profit: $172,369
• Equity at exit: $6,485

Cash invested: $21,000 (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 14905

• Home prices YoY: -9.4%
• Active inventory: 39
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,553 high
• Mortgage (P&I): −$393
• Tax from tax record: −$267 /mo · $3,200/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $1,326

Break-even live

Break-even rent $875

Max offer price $75,000

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1.5	$2,554
Total (2 units)			$2,553

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	43d	1	0.27mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	43d	1	0.63mi

Listing history 7 events

1. 2026-06-19
   days on market $75,000 Active 6 DOM
2. 2026-06-18
   days on market $75,000 Active 5 DOM
3. 2026-06-17
   days on market $75,000 Active 4 DOM
4. 2026-06-16
   days on market $75,000 Active 3 DOM
5. 2026-06-15
   days on market $75,000 Active 2 DOM
6. 2026-06-14
   remarks 678-char remark
7. 2026-06-14
   listed $75,000 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: $3,200 · $267/mo
• Projected year-2 tax: $3,200 · $267/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 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 17 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: $30,636
• − Mortgage interest: −$4,201
• − Property taxes: −$3,200
• − Insurance: −$375
• − Repairs & maintenance: −$2,451
• − Management: −$2,451
• − Depreciation: −$2,182
• Taxable income: $15,776
• Est. tax owed @ 24.0%: −$3,786
• After-tax cash flow: $12,121/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 — Elmira

• Score: 62/100
• State rank: #832
• US rank: #16139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmira, NY
• City population: 14,276
• Population (ZIP): 8,976

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 (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 7% Hispanic / Latino 3% Asian 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 2% Chinese 1% Russian/Polish/Slavic 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: ▼ -26.09%
• Current HPI: 252.0326
• 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

+66.7% since first listed

11 events — show timeline

• 2026-06-14 Listed $75,000 UNYREIS
• 2012-03-02 Sold (MLS) $18,000 UNYREIS
• 2012-01-05 Listed $19,900 UNYREIS
• 2010-03-05 Listing Removed — UNYREIS
• 2009-12-08 Listed $34,900 UNYREIS
• 2009-10-31 Listing Removed — UNYREIS
• 2009-04-30 Listed $34,900 UNYREIS
• 2009-03-10 Listing Removed — UNYREIS
• 2008-09-10 Listed $39,900 UNYREIS
• 2008-08-15 Listing Removed — UNYREIS
• 2008-05-15 Listed $45,000 UNYREIS

Property tax history

+7.9%/yr

Latest (2025): $3,200 · -18.0% YoY. Source: county tax records.