49 Adsit St · Hornell, NY 14843

$139,900

4 bd · 1.5 ba · 1,622 sqft · SingleFamily public records · 11 Days on market

Built 1900 7,375 sqft lot $86/sqft · 14% above area Est $122k · 14% over ↓ 7% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Appreciation +7.0/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.1/15.0

Listing remarks

Four bedroom, bath and a half spacious brick home in the ciity! The kitchen, with ash wood cabinetry, is open to the dining room. The cabinetry has "lazy susans" and solid ash pull-out shelves. There is also a very large living room, an extra office/den room, and a half bath on the main floor. ALL vinyl replacement windows!! The second floor has 4 bedrooms, a full bath, and a walk-up attic. Great for easy access storage. FA furnace, 40-gallon hot water tank, and 200 amp circuit breakers. There is a passive solar design system. .. "structures whose design, placement or materials optimize the use of heat or light directly from the sun" (Environmental and Energy Study Ins

Key facts

• Ash wood cabinetry
• Walk-up attic
• Lazy susans

Tags

• ASH WOOD CABINETRY
• LAZY SUSANS
• SOLID ASH PULL-OUT SHELVES
• VINYL REPLACEMENT WINDOWS
• WALK-UP ATTIC
• PASSIVE SOLAR DESIGN SYSTEM

Property features AI

Exterior

• Parking: Detached garage with electricity and workshop area; Garage door opener; 1.5 garage spaces
• Utilities: Photovoltaic (solar) panels; Cable available; High-speed internet available; Public water connected; Sewer connected; Circuit breaker electrical system
• Home design: 2-story home; Resale property; Shingle roof
• Construction: Brick and vinyl siding exterior; Attic/crawl hatchway(s) insulated; Spray foam insulation; Block and stone foundation; Existing (previously built) property
• Exterior features: Partial fencing; Covered and open porch; Patio; Gravel driveway; Residential, rectangular lot (approx. 49 x 148); City street frontage

Interior

• Kitchen: Free-standing range; Gas oven and gas range; Oven; Dishwasher; Refrigerator; Freezer; Disposal
• Bedrooms: Includes laundry, office and den among room types
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Leaded glass windows; Breakfast bar; Ceiling fan(s); Den; Separate/formal dining room; Home office; Partial basement
• Laundry & utility: Laundry located in basement; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

Location & tenants

• Location reads 70/100 on livability (#451 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, schools D, crime F.
• Hornell City School District (town): math 33% / reading 49% proficiency, ranked #519 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; 3 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).
• This rent runs 41% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $6k of equity ($967 loan paydown + $6k appreciation (4.0% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $139,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.08%
• DSCR: 1.85
• GRM: 5.9

CMA / ARV

• ARV (median comp): $122,461
• List price: $139,900
• Delta: 14.24%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137 Thacher St	0.23mi	3/1.5 (-1)	1,640 (+1%)	6mo	$130,000	$79	77
62 Adsit St	0.05mi	4/2.0	1,476 (-9%)	11mo	$116,000	$79	72
16 Washington St	0.35mi	4/1.5	1,512 (-7%)	2mo	$111,000	$73	70
78 State St	0.29mi	3/1.5 (-1)	1,666 (+3%)	9mo	$140,000	$84	70
105 N Church St	0.46mi	3/2.0 (-1)	1,684 (+4%)	4mo	$190,000	$113	62
67 N Main St	0.32mi	3/2.0 (-1)	1,770 (+9%)	3mo	$157,000	$89	61
90 N Main St	0.32mi	4/1.5	1,488 (-8%)	15mo	$66,000	$44	58
6 Sheldon Ct	0.51mi	4/2.0	1,516 (-6%)	17mo	$150,000	$99	49
73 Platt St	0.61mi	3/1.5 (-1)	1,750 (+8%)	8mo	$102,000	$58	47
41 Fulton St	0.40mi	3/1.0 (-1)	1,440 (-11%)	14mo	$75,000	$52	44
161 Dennis Ave	0.70mi	3/2.0 (-1)	1,740 (+7%)	15mo	$179,000	$103	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.4%
• Equity multiple: 2.63×
• Total profit: $63,673
• Equity at exit: $70,505

10-year hold

• IRR: 27.1%
• Equity multiple: 5.15×
• Total profit: $162,639
• Equity at exit: $114,977

Cash invested: $39,172 (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 14843

• Home prices YoY: 1.9%
• Active inventory: 61
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,975 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$146 /mo · $1,747/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $623

Break-even live

Break-even rent $1,187

Max offer price $139,900

Occupancy floor 63%

Sensitivity live

Price	-10% $702	-5% $662	+0% $623	+5% $583	+10% $544
Rent	-10% $467	-5% $545	+0% $623	+5% $701	+10% $779
Rate	-1.0pp $693	-0.5pp $658	base $623	+0.5pp $587	+1.0pp $550

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Willow Pl Hornell, NY	4.0	2.0	1726	$2,000	$1.16	45d	1	0.43mi
15 Hakes Ave Unit 102 Hornell, NY	4.0	2.0	2000	$2,195	$1.10	45d	1	0.71mi
58 Elm St Hornell, NY	4.0	2.0	1600	$2,495	$1.56	45d	1	0.93mi

Listing history 3 events

1. 2026-05-06
   status Pending 898-char remark
2. 2026-04-30
   price $139,900 898-char remark
3. 2026-04-25
   listed $149,900 Active 898-char remark

ⓘ 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: $1,747 · $146/mo
• Projected year-2 tax: $2,056 · $171/mo
• Expected delta: +$309/yr (+$26/mo · 17.7%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,701
• − Mortgage interest: −$7,837
• − Property taxes: −$1,747
• − Insurance: −$700
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − Depreciation: −$4,070
• Taxable income: $5,556
• Est. tax owed @ 24.0%: −$1,333
• After-tax cash flow: $6,140/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: Hornell City School District
• NCES district ID: 3614820
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $40,251
• Composite: 34.33/100
• National rank: #5234
• State rank: #519 of 590 in NY

Livability — Hornell

• Score: 70/100
• State rank: #451
• US rank: #7888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hornell, NY
• County: Steuben County · 41,193 people
• City population: 12,383
• Metro: Corning, NY
• Population (ZIP): 12,383
• Household income: $57,874
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 415.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Arabic 1% Spanish 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: ▲ 3.95%
• Current HPI: 210.1986
• 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

-6.7% since first listed

3 events — show timeline

• 2026-05-06 Pending — UNYREIS
• 2026-04-30 Price Changed $139,900 UNYREIS
• 2026-04-25 Listed $149,900 UNYREIS

Property tax history

+3.8%/yr

Latest (2025): $1,747 · -0.5% YoY. Source: county tax records.