262 Partridge St · Elmira, NY 14904

$73,900

3 bd · 2.0 ba · 1,392 sqft · Townhouse public records · 28 Days on market

Built 1900 6,711 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two family house - up/down. Nice condition, all utilities divided. Appliances work, furnaces work, hot water heaters work, roof doesn't leak and sump pump runs rarely. Two porches - one enclosed, one open. Park out front on Partridge or in back, access from the alley. Live in one, rent one, or rent them both - either way this house works for you.

Key facts

• Duplex
• 2 parking spots
• Built 1900

Tags

• DUPLEX
• FLEXIBLE RENTAL POTENTIAL
• MULTIPLE INCOME STREAMS
• MULTI-FAMILY PROPERTY

Property features AI

Finance

• Financial info: Property contains 2 total units; Each unit has separate gas and electric meters; Unit 1 (month-to-month): 1 bed, 1 bath — rent listed as $675; Unit 2 (month-to-month): 2 beds, 1 bath — rent listed as $750; Owner currently pays for water

Exterior

• Parking: Two or more parking spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: Two-story multi-family property; Existing resale property
• Construction: Vinyl siding; Asphalt shingle roof; Built as existing structure
• Exterior features: Irregular lot; Near public transit; Residential lot; City street frontage; Lot dimensions approximately 55 x 120

Interior

• Kitchen: Each unit includes an eat-in kitchen
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Flooring: Carpet; Resilient flooring; Varies by area
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $74k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $73k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 10.1% in Elmira — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 62/100 on livability (#832 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• 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; 9 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

• Local home prices are declining (-3.0%/yr); year-one equity from $511 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $74k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,791 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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: 1.73% ✓
• Cap rate: 12.34%
• Cash-on-cash: 21.59%
• DSCR: 1.96
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.2%
• Equity multiple: 1.40×
• Total profit: $8,327
• Equity at exit: $11,019

10-year hold

• IRR: 19.4%
• Equity multiple: 2.63×
• Total profit: $33,755
• Equity at exit: $6,390

Cash invested: $20,692 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,277 high
• Mortgage (P&I): −$388
• Tax from tax record: −$218 /mo · $2,616/yr
• Insurance: −$31
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $317

Break-even live

Break-even rent $876

Max offer price $73,900

Occupancy floor 70%

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: $18,475
• Closing costs: $2,217
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	44d	1	0.20mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	0.33mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	0.45mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	0.76mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	44d	1	0.78mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	0.78mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	44d	1	0.87mi
357 W Clinton St Unit 1 Elmira, NY	2.0	1.5	1650	$1,500	$0.91	44d	1	0.88mi
550 Spruce St Unit 303 Elmira, NY	2.0	2.0	1350	$1,350	$1.00	44d	1	0.97mi

Listing history 23 events

1. 2026-06-19
   days on market $73,900 Active 28 DOM
2. 2026-06-18
   days on market $73,900 Active 27 DOM
3. 2026-06-17
   days on market $73,900 Active 26 DOM
4. 2026-06-16
   days on market $73,900 Active 25 DOM
5. 2026-06-15
   days on market $73,900 Active 24 DOM
6. 2026-06-14
   days on market $73,900 Active 22 DOM
7. 2026-06-12
   days on market $73,900 Active 21 DOM
8. 2026-06-09
   days on market $73,900 Active 18 DOM
9. 2026-06-08
   days on market $73,900 Active 17 DOM
10. 2026-06-07
    pricedays on market $73,900 Active 16 DOM
11. 2026-06-05
    days on market $78,900 Active 13 DOM
12. 2026-06-03
    days on market $78,900 Active 12 DOM
13. 2026-06-02
    days on market $78,900 Active 11 DOM
14. 2026-06-01
    days on market $78,900 Active 10 DOM
15. 2026-05-31
    days on market $78,900 Active 9 DOM
16. 2026-05-30
    days on market $78,900 Active 8 DOM
17. 2026-05-22
    listed $78,900 Active
18. 2019-10-08
    soldstatus $32,640
19. 2019-09-05
    soldstatus $32,640 348-char remark

    Show marketing remark (348 chars)

    Two family house - up/down. Nice condition, all utilities divided. Appliances work, furnaces work, hot water heaters work, roof doesn't leak and sump pump runs rarely. Two porches - one enclosed, one open. Park out front on Partridge or in back, access from the alley. Live in one, rent one, or rent them both - either way this house works for you.

20. 2019-01-02
    listed $38,950 348-char remark

    Show marketing remark (348 chars)

    Two family house - up/down. Nice condition, all utilities divided. Appliances work, furnaces work, hot water heaters work, roof doesn't leak and sump pump runs rarely. Two porches - one enclosed, one open. Park out front on Partridge or in back, access from the alley. Live in one, rent one, or rent them both - either way this house works for you.

21. 2016-10-15
    historical
22. 2015-09-15
    listed $39,900
23. 1997-05-07
    soldstatus $27,000

ⓘ 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: $2,616 · $218/mo
• Projected year-2 tax: $2,616 · $218/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 7/10 Severe FEMA zone X (shaded) · 77% 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 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: $15,320
• − Mortgage interest: −$4,140
• − Property taxes: −$2,616
• − Insurance: −$1,036
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − Depreciation: −$2,150
• Taxable income: $2,928
• Est. tax owed @ 24.0%: −$703
• After-tax cash flow: $3,098/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 — Elmira

• Score: 62/100
• State rank: #832
• US rank: #16139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmira, NY
• City population: 14,276
• 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

+192.2% since first listed

7 events — show timeline

• 2026-05-22 Listed $78,900 UNYREIS
• 2019-10-08 Sold (Public Records) $32,640 Public Records
• 2019-09-05 Sold (MLS) $32,640 UNYREIS
• 2019-01-02 Listed $38,950 UNYREIS
• 2016-10-15 Listing Removed — UNYREIS
• 2015-09-15 Listed $39,900 UNYREIS
• 1997-05-07 Sold (Public Records) $27,000 Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,616 · -8.4% YoY. Source: county tax records.