118 Hope · Elmira Heights, NY 14903

$59,500

2 bd · 1.5 ba · 839 sqft · SingleFamily public records · 1 Days on market

Built 1920 5,532 sqft lot $71/sqft · 37% below area Est $94k · 37% under

---

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 +6.9/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this two-bedroom, 1.5-bathroom house located in the Elmira Heights School District. Ideal for first-time homebuyers or use as a rental investment. This home offers comfort and convenience in a cozy package. Features include : Two spacious bedrooms; One full bathroom and one half bath for added convenience; First-floor laundry room for easy access. Detached garage in the back.

Key facts

• Detached garage
• 5,532 sq ft lot
• Garage

Tags

• FIRST-FLOOR LAUNDRY ROOM
• DETACHED GARAGE
• ELMIRA HEIGHTS SCHOOL DISTRICT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).

Location & tenants

• Location reads 72/100 on livability (#338 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Elmira Heights Central School District (suburban): math 39% / reading 46% proficiency, ranked #496 of 590 in NY (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 5 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; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($411 loan paydown + $2k appreciation (3.8% local appreciation)).
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $20k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $60k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,500

Questions for the listing agent

1. Built in 1920 — 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. 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.
4. 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.
5. 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: 1.89% ✓
• Cap rate: 15.96%
• Cash-on-cash: 34.52%
• DSCR: 2.54
• GRM: 4.4

CMA / ARV

• ARV (median comp): $94,485
• List price: $59,500
• Delta: -31.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Harrison St	0.18mi	2/1.0	784 (-7%)	7mo	$120,000	$153	73
109 Garfield St	0.07mi	2/1.0	936 (+12%)	10mo	$89,900	$96	67
211 Kendall Pl	0.33mi	2/1.0	775 (-8%)	12mo	$80,000	$103	60
128 Lynwood Ave	0.12mi	2/1.0	945 (+13%)	19mo	$122,000	$129	56
138 Mccauley Ave	0.47mi	2/1.0	736 (-12%)	3mo	$68,000	$92	53
209 Kendall Pl	0.33mi	2/1.0	754 (-10%)	20mo	$47,000	$62	49
275 W 10th St	0.43mi	3/1.0 (+1)	960 (+14%)	6mo	$90,000	$94	44
277 W 10th St	0.74mi	3/1.0 (+1)	744 (-11%)	12mo	$79,000	$106	30

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

Projected returns pro-forma

3.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.5%
• Equity multiple: 3.42×
• Total profit: $40,261
• Equity at exit: $29,473

10-year hold

• IRR: 40.6%
• Equity multiple: 6.85×
• Total profit: $97,529
• Equity at exit: $47,661

Cash invested: $16,660 (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 14903

• Home prices YoY: 1.6%
• Active inventory: 26
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,127 high
• Mortgage (P&I): −$312
• Tax est. 1.5%: −$74 /mo · $892/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $479

Break-even live

Break-even rent $520

Max offer price $59,500

Occupancy floor 52%

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2146 College Ave Unit 2C Loft Elmira, NY	1.0	1.0	750	$1,145	$1.53	44d	1	0.53mi
258 E 14th St Elmira, NY	2.0	1.0	1100	$1,200	$1.09	44d	1	0.59mi
200-202 Robinwood Ave Elmira Heights, NY	1.0	1.0	700	$995	$1.42	44d	1	0.64mi
263 W 13th St Unit Lower Elmira Heights, NY	3.0	1.0	900	$1,241	$1.38	44d	1	0.78mi
1056 Walnut St Unit 4 Elmira, NY	1.0	1.0	750	$995	$1.33	44d	1	1.32mi

Listing history 13 events

1. 2026-06-17
   pricedays on marketlisting id $59,500 Active 1 DOM
2. 2026-04-15
   price $64,500 390-char remark

   Show marketing remark (390 chars)

   Welcome to this two-bedroom, 1.5-bathroom house located in the Elmira Heights School District. Ideal for first-time homebuyers or use as a rental investment. This home offers comfort and convenience in a cozy package. Features include : Two spacious bedrooms; One full bathroom and one half bath for added convenience; First-floor laundry room for easy access. Detached garage in the back.

3. 2026-03-23
   price $68,500 390-char remark

   Show marketing remark (390 chars)

   Welcome to this two-bedroom, 1.5-bathroom house located in the Elmira Heights School District. Ideal for first-time homebuyers or use as a rental investment. This home offers comfort and convenience in a cozy package. Features include : Two spacious bedrooms; One full bathroom and one half bath for added convenience; First-floor laundry room for easy access. Detached garage in the back.

4. 2025-11-24
   listed $80,000 Active 390-char remark

   Show marketing remark (390 chars)

   Welcome to this two-bedroom, 1.5-bathroom house located in the Elmira Heights School District. Ideal for first-time homebuyers or use as a rental investment. This home offers comfort and convenience in a cozy package. Features include : Two spacious bedrooms; One full bathroom and one half bath for added convenience; First-floor laundry room for easy access. Detached garage in the back.

5. 2025-07-09
   historical
6. 2025-01-09
   listed $80,000 Active
7. 2008-08-05
   historical
8. 2007-09-28
   listed $69,900
9. 2002-06-18
   soldstatus $26,500
10. 2002-06-12
    soldstatus $24,000
11. 2001-07-16
    listed $32,900
12. 2001-06-26
    soldstatus $28,388
13. 1997-07-21
    soldstatus $42,700

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,525
• − Mortgage interest: −$3,333
• − Property taxes: −$892
• − Insurance: −$298
• − Repairs & maintenance: −$1,082
• − Management: −$1,082
• − Depreciation: −$1,731
• Taxable income: $5,107
• Est. tax owed @ 24.0%: −$1,226
• After-tax cash flow: $4,525/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 Heights Central School District
• NCES district ID: 3610590
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 46% ▲ 7.00%
• Median HH income: $42,753
• Composite: 35.85/100
• National rank: #4821
• State rank: #496 of 590 in NY

Livability — Elmira Heights

• Score: 72/100
• State rank: #338
• US rank: #5747

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmira Heights, NY
• Population (ZIP): 7,140

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 (81%)
• Race & ethnicity: White 81% Black 7% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 5% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 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: ▲ 3.80%
• Current HPI: 234.7884
• 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

+51.1% since first listed

12 events — show timeline

• 2026-04-15 Price Changed $64,500 UNYREIS
• 2026-03-23 Price Changed $68,500 UNYREIS
• 2025-11-24 Listed $80,000 UNYREIS
• 2025-07-09 Listing Removed — UNYREIS
• 2025-01-09 Listed $80,000 UNYREIS
• 2008-08-05 Listing Removed — UNYREIS
• 2007-09-28 Listed $69,900 UNYREIS
• 2002-06-18 Sold (Public Records) $26,500 Public Records
• 2002-06-12 Sold (MLS) $24,000 UNYREIS
• 2001-07-16 Listed $32,900 UNYREIS
• 2001-06-26 Sold (Public Records) $28,388 Public Records
• 1997-07-21 Sold (Public Records) $42,700 Public Records

Property tax history

+1.3%/yr

Latest (2025): $3,073 · +2.5% YoY. Source: county tax records.