424 S Division St · Hornell, NY 14843

$79,900

3 bd · 1.0 ba · 1,474 sqft · SingleFamily public records · 82 Days on market

Built 1890 6,534 sqft lot $54/sqft · 40% below area Est $134k · 40% under

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Why this score? — see what drove the A- 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
• 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

Listing remarks MLS

Great Location, nice size back yard, currently used as a rental, come make this your own!!! Build equity!! So many possibilities for this home.

Key facts

• 6,534 sq ft lot
• Built 1890
• Listed 81 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $888 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.6% vs local median 13.3% in Hornell — 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 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: 59 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 38% 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 $4k of equity ($552 loan paydown + $3k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $47k; list at $80k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 2.27% ✓
• Cap rate: 19.63%
• Cash-on-cash: 47.63%
• DSCR: 3.12
• GRM: 3.7

CMA / ARV

• ARV (median comp): $133,736
• List price: $79,900
• Delta: -40.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Grand St	0.17mi	3/2.0	1,550 (+5%)	11mo	$149,900	$97	70
439 Canisteo St	0.13mi	3/1.5	1,592 (+8%)	10mo	$142,200	$89	70
235 Grand St	0.49mi	3/1.5	1,502 (+2%)	4mo	$75,000	$50	69
263 Grand St	0.37mi	3/1.0	1,522 (+3%)	11mo	$178,000	$117	68
64 Pine St	0.38mi	3/1.5	1,544 (+5%)	10mo	$42,000	$27	64
34 School St	0.16mi	3/1.5	1,256 (-15%)	7mo	$125,000	$100	60
54 Ravine St	0.53mi	3/1.0	1,517 (+3%)	13mo	$141,000	$93	60
85 Front St	0.57mi	3/2.0	1,568 (+6%)	2mo	$160,000	$102	57
97 4th St	0.65mi	3/1.0	1,414 (-4%)	12mo	$124,900	$88	53
146 Terry St	0.69mi	3/1.0	1,394 (-5%)	9mo	$50,000	$36	51
228 Grand St	0.51mi	2/2.0 (-1)	1,378 (-6%)	7mo	$124,900	$91	50
6496 County Route 68	0.58mi	3/2.0	1,648 (+12%)	10mo	$170,000	$103	41

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: 54.1%
• Equity multiple: 4.14×
• Total profit: $70,286
• Equity at exit: $40,267

10-year hold

• IRR: 52.8%
• Equity multiple: 8.43×
• Total profit: $166,146
• Equity at exit: $65,666

Cash invested: $22,372 (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 14843

• Home prices YoY: 1.9%
• Active inventory: 59
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,811 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$91 /mo · $1,087/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $888

Break-even live

Break-even rent $687

Max offer price $79,900

Occupancy floor 46%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
58 Elm St Hornell, NY	4.0	2.0	1600	$2,495	$1.56	43d	1	0.73mi
54 Bemis Ave Hornell, NY	2.0	1.0	1801	$1,300	$0.72	43d	1	1.11mi
14 Willow Pl Hornell, NY	4.0	2.0	1726	$2,000	$1.16	43d	1	1.18mi

Listing history 18 events

1. 2026-06-19
   days on market $79,900 Active 82 DOM
2. 2026-06-18
   days on market $79,900 Active 81 DOM
3. 2026-06-17
   days on market $79,900 Active 80 DOM
4. 2026-06-16
   days on market $79,900 Active 79 DOM
5. 2026-06-15
   days on market $79,900 Active 78 DOM
6. 2026-06-14
   days on market $79,900 Active 76 DOM
7. 2026-06-12
   days on market $79,900 Active 75 DOM
8. 2026-06-09
   days on market $79,900 Active 72 DOM
9. 2026-06-08
   days on market $79,900 Active 71 DOM
10. 2026-06-07
    days on market $79,900 Active 70 DOM
11. 2026-06-07
    days on market $79,900 Active 69 DOM
12. 2026-06-03
    days on market $79,900 Active 66 DOM
13. 2026-06-02
    days on market $79,900 Active 65 DOM
14. 2026-06-01
    days on market $79,900 Active 64 DOM
15. 2026-05-31
    days on market $79,900 Active 63 DOM
16. 2026-05-30
    days on market $79,900 Active 62 DOM
17. 2026-03-29
    listed $79,900 Active 144-char remark

    Show marketing remark (144 chars)

    Great Location, nice size back yard, currently used as a rental, come make this your own!!! Build equity!! So many possibilities for this home.

18. 2021-01-06
    soldstatus $47,000

ⓘ 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: $1,087 · $91/mo
• Projected year-2 tax: $1,219 · $102/mo
• Expected delta: +$131/yr (+$11/mo · 12.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥91°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: $21,736
• − Mortgage interest: −$4,476
• − Property taxes: −$1,087
• − Insurance: −$400
• − Repairs & maintenance: −$1,739
• − Management: −$1,739
• − Depreciation: −$2,324
• Taxable income: $9,971
• Est. tax owed @ 24.0%: −$2,393
• After-tax cash flow: $8,263/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

+70.0% since first listed

2 events — show timeline

• 2026-03-29 Listed $79,900 UNYREIS
• 2021-01-06 Sold (Public Records) $47,000 Public Records

Property tax history

-3.3%/yr

Latest (2025): $1,087 · -0.4% YoY. Source: county tax records.