159 Hemlock St · Horseheads, NY 14845

$91,000

2 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 12 Days on market

Built 1951 7,821 sqft lot Est $163k · 44% 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 +28.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits at 159 Hemlock Street in Horseheads! Whether you're an investor looking to add to your portfolio or an owner-occupant ready to build equity, this property offers plenty of potential. Much of the hard work has already been started, and the home is ready for your finishing touches to bring your vision to life. The main level offers comfortable living space, while the unfinished upper level presents the possibility of adding two additional bedrooms, creating even more value and functionality. Conveniently located near schools, shopping, restaurants, and major roadways, this property is ideal as a primary residence, rental property, or renovation project. Bring your ideas and

Key facts

• 7,821 sq ft lot
• Garage
• Built 1951

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $91k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $91k).
• Cap rate 10.2% vs local median 5.1% in Horseheads — 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 69/100 on livability (#494 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, schools B; Watch: crime D+, health & safety D, amenities F.
• Horseheads Central School District (suburban): math 44% / reading 58% proficiency, ranked #347 of 590 in NY (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 92 active listings in the ZIP; 1 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 $629 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 ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $75k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,000

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
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: 1.59% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.81%
• DSCR: 1.61
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $163,296
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
160 Joseph Street St	0.13mi	3/2.0 (+1)	1,324 (+2%)	1mo	$178,000	$134	80
101 Trenton St	0.35mi	2/1.0	1,328 (+2%)	2mo	$120,000	$90	78
4185 S Center St	0.24mi	2/1.0	1,260 (-3%)	12mo	$35,000	$28	74
181 Hemlock St	0.11mi	2/1.0	1,260 (-3%)	21mo	$80,000	$63	73
1161 Pleasant St	0.32mi	3/1.0 (+1)	1,284 (-1%)	20mo	$167,000	$130	62
2182 Grand Central Ave	0.43mi	3/1.0 (+1)	1,325 (+2%)	13mo	$175,000	$132	60
3106 Arnold Ave	0.69mi	3/1.0 (+1)	1,248 (-4%)	2mo	$37,000	$30	55
3115 Butler Ave	0.66mi	3/1.0 (+1)	1,228 (-5%)	3mo	$154,255	$126	53
111 Cheryl St	0.69mi	2/1.0	1,328 (+2%)	23mo	$164,500	$124	45
817 Hulett St	0.62mi	2/2.0	1,200 (-7%)	14mo	$200,000	$167	43
1995 Grand Central Ave	0.45mi	3/1.0 (+1)	1,486 (+15%)	9mo	$159,000	$107	42
3121 Camden Ave	0.64mi	3/2.0 (+1)	1,480 (+14%)	3mo	$215,000	$145	35

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: 4.1%
• Equity multiple: 1.16×
• Total profit: $4,088
• Equity at exit: $13,568

10-year hold

• IRR: 13.8%
• Equity multiple: 2.11×
• Total profit: $28,254
• Equity at exit: $7,868

Cash invested: $25,480 (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 14845

• Home prices YoY: -24.9%
• Active inventory: 92
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$477
• Tax from tax record: −$337 /mo · $4,046/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $293

Break-even live

Break-even rent $1,079

Max offer price $91,000

Occupancy floor 75%

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: $22,750
• Closing costs: $2,730
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
112 S Main St Horseheads, NY	2.0	1.0	1000	$1,450	$1.45	44d	1	1.05mi

Listing history 15 events

1. 2026-06-16
   status $91,000 Pending 12 DOM
2. 2026-06-15
   days on market $91,000 Active 12 DOM
3. 2026-06-14
   days on market $91,000 Active 10 DOM
4. 2026-06-12
   days on market $91,000 Active 9 DOM
5. 2026-06-09
   days on market $91,000 Active 6 DOM
6. 2026-06-08
   days on market $91,000 Active 5 DOM
7. 2026-06-07
   days on market $91,000 Active 4 DOM
8. 2026-06-05
   remarks 699-char remark
9. 2026-06-05
   pricestatusdays on marketlisting id $91,000 Active 1 DOM
10. 2026-04-17
    status Pending
11. 2026-04-06
    historical
12. 2026-01-08
    price $110,000
13. 2025-10-30
    price $129,900
14. 2025-09-30
    listed $139,900 Active
15. 2017-05-30
    soldstatus $75,000

ⓘ 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: $4,046 · $337/mo
• Projected year-2 tax: $4,046 · $337/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 · 71% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,400
• − Mortgage interest: −$5,097
• − Property taxes: −$4,046
• − Insurance: −$455
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$2,647
• Taxable income: $2,370
• Est. tax owed @ 24.0%: −$569
• After-tax cash flow: $2,950/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: Horseheads Central School District
• NCES district ID: 3614850
• Math proficiency: 44% ▼ -19.00%
• Reading proficiency: 58% ▲ 3.00%
• Median HH income: $60,594
• Composite: 44.58/100
• National rank: #2781
• State rank: #347 of 590 in NY

Livability — Horseheads

• Score: 69/100
• State rank: #494
• US rank: #8689

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 20,552

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Asian 2% Hispanic / Latino 2% Black 2%
• Common ancestry: Romanian 6% Slovak 2% Iranian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 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: ▼ -82.23%
• Current HPI: 247.777
• 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

+46.7% since first listed

6 events — show timeline

• 2026-04-17 Pending — UNYREIS
• 2026-04-06 Listing Removed — UNYREIS
• 2026-01-08 Price Changed $110,000 UNYREIS
• 2025-10-30 Price Changed $129,900 UNYREIS
• 2025-09-30 Listed $139,900 UNYREIS
• 2017-05-30 Sold (Public Records) $75,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $4,046 · +17.6% YoY. Source: county tax records.