658 Cedar St · Southport, NY 14904

$154,900

3 bd · 1.5 ba · 1,164 sqft · SingleFamily public records · 1 Days on market

Built 1925 4,760 sqft lot Est $120k · 29% over

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Why this score? — see what drove the D- 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 +17.3/30.0
• DSCR +5.4/10.0
• 1% rule +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 658 Cedar Street in the Town of Southport. This 3-bedroom, 1.5-bath home features a remodeled kitchen with quartz countertops and newer appliances, an updated full bath, and convenient first-floor laundry. Additional highlights include central air, a high-efficiency furnace, an enclosed front porch, covered back porch, and a fenced backyard. Conveniently located near Broadway Elementary School and local amenities.

Key facts

• Quartz countertops
• Updated full bath
• Remodeled kitchen

Tags

• REMODELED KITCHEN
• QUARTZ COUNTERTOPS
• NEWER APPLIANCES
• UPDATED FULL BATH
• FIRST-FLOOR LAUNDRY
• CENTRAL AIR

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water connected; Septic tank; Water service connected
• Home design: Two-story house; Existing (resale) property
• Construction: Vinyl siding; Block foundation
• Exterior features: Blacktop driveway; Enclosed covered porch; Porch; Fully fenced yard; Rectangular residential lot; City street frontage

Interior

• Kitchen: Gas oven; Gas range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Total of 8 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Hardwood; Laminate; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Gas forced-air heating; Central air conditioning
• Interior features: Eat-in kitchen; Kitchen island; Full basement; Laundry room on main level; One fireplace
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $57 ($687/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (7.6% below list).
• Recommended offer: $143k (7.6% below list) — sets the bar for 1% rule.

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; 7 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,185 (7.6% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.12%
• DSCR: 1.14
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $119,892
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
825 Broadway St	0.18mi	3/1.0	1,271 (+9%)	4mo	$65,000	$51	71
570 Cypress St	0.25mi	3/1.0	1,307 (+12%)	1mo	$127,200	$97	65
809 Chamberlain St	0.08mi	4/1.0 (+1)	1,328 (+14%)	5mo	$138,192	$104	62
562 Baty St	0.31mi	3/1.0	1,296 (+11%)	5mo	$111,702	$86	61
719 Dubois St	0.26mi	3/1.0	1,008 (-13%)	4mo	$120,000	$119	60
609 Decker Ave	0.66mi	2/1.0 (-1)	1,152 (-1%)	4mo	$45,000	$39	58
607 Partridge St	0.71mi	3/1.0	1,218 (+5%)	3mo	$126,000	$103	54
628 Decker Ave	0.67mi	3/1.0	1,062 (-9%)	3mo	$125,000	$118	50
405 Balsam St	0.64mi	2/1.0 (-1)	1,081 (-7%)	5mo	$22,000	$20	47
317 Morrowfield Ave	0.66mi	2/1.0 (-1)	1,064 (-9%)	4mo	$35,500	$33	44
406 S Walnut St	0.59mi	2/1.0 (-1)	1,000 (-14%)	1mo	$122,000	$122	42
626 Decker Ave	0.67mi	3/2.0	1,335 (+15%)	2mo	$142,000	$106	40

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: -13.8%
• Equity multiple: 0.51×
• Total profit: $-21,430
• Equity at exit: $23,096

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-13,868
• Equity at exit: $13,393

Cash invested: $43,372 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,432 high
• Mortgage (P&I): −$812
• Tax from tax record: −$142 /mo · $1,698/yr
• Insurance: −$65
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $57

Break-even live

Break-even rent $1,359

Max offer price $154,900

Occupancy floor 91%

Sensitivity live

Price	-10% $145	-5% $101	+0% $57	+5% $13	+10% $-30
Rent	-10% $-56	-5% $1	+0% $57	+5% $114	+10% $170
Rate	-1.0pp $135	-0.5pp $97	base $57	+0.5pp $17	+1.0pp $-24

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
550 Spruce St Unit 303 Elmira, NY	2.0	2.0	1350	$1,350	$1.00	44d	1	0.24mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	0.60mi
235 Allen St Elmira, NY	2.0	1.0	780	$950	$1.22	44d	1	0.73mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	1.22mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	1.32mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	44d	1	1.41mi
1210 W Water St Elmira, NY	2.0	2.0	1340	$1,995	$1.49	44d	1	1.47mi

Listing history 2 events

1. 2026-06-18
   remarks 428-char remark
2. 2026-06-18
   listed $154,900 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: $1,698 · $142/mo
• Projected year-2 tax: $2,158 · $180/mo
• Expected delta: +$460/yr (+$38/mo · 27.1%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 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: $17,182
• − Mortgage interest: −$8,677
• − Property taxes: −$1,698
• − Insurance: −$1,441
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − Depreciation: −$4,506
• Taxable loss: −$1,889
• Est. tax savings @ 24.0%: +$453
• After-tax cash flow: $1,140/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: 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

1 event — show timeline

• 2026-06-18 Listed $154,900 UNYREIS

Property tax history

+2.2%/yr

Latest (2025): $1,698 · +2.3% YoY. Source: county tax records.