1250 State Route 414 Hwy · Montour Falls, NY 14812

$179,900

3 bd · 2.0 ba · 1,430 sqft · Manufactured public records · 330 Days on market

Built 1969 0.46 ac lot

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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 +11.1/30.0
• Appreciation +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0

Listing remarks MLS

Minutes from Corning and Watkins Glen. Recently updated single family home with full basement and detached 2 car garage/shop. Offering 3 bedrooms including master suite with private bath. Fenced private back yard with deck. Corning Painted Post school district.

Key facts

• 0.46 acre lot
• 2 garage spots
• Built 1969

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $-74 ($-885/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (28.1% below list).
• Recommended offer: $129k (28.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#786 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety D, schools F, amenities F.
• Corning City School District (town): math 44% / reading 53% proficiency, ranked #406 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 52 units permitted in Schuyler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (7.0% local appreciation)).
• Schuyler County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 330 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $180k implies a 188% gain — meaningful room to come down on a strong offer.

Recommended offer $129,274 (28.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 330 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.72% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 2.16×
• Total profit: $58,631
• Equity at exit: $125,284

10-year hold

• IRR: 16.0%
• Equity multiple: 4.45×
• Total profit: $173,732
• Equity at exit: $238,546

Cash invested: $50,372 (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 14812

• Home prices YoY: 2.6%
• Active inventory: 16
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,293 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$77 /mo · $920/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-74

Break-even live

Break-even rent $1,386

Max offer price $166,867

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $179,900 Active 330 DOM
2. 2026-06-18
   days on market $179,900 Active 329 DOM
3. 2026-06-17
   days on market $179,900 Active 328 DOM
4. 2026-06-16
   days on market $179,900 Active 327 DOM
5. 2026-06-15
   days on market $179,900 Active 326 DOM
6. 2026-06-14
   days on market $179,900 Active 324 DOM
7. 2026-06-12
   days on market $179,900 Active 323 DOM
8. 2026-06-09
   days on market $179,900 Active 320 DOM
9. 2026-06-08
   days on market $179,900 Active 319 DOM
10. 2026-06-07
    days on market $179,900 Active 318 DOM
11. 2026-06-05
    days on market $179,900 Active 315 DOM
12. 2026-06-03
    days on market $179,900 Active 314 DOM
13. 2026-06-02
    days on market $179,900 Active 313 DOM
14. 2026-06-01
    days on market $179,900 Active 312 DOM
15. 2026-05-31
    days on market $179,900 Active 311 DOM
16. 2026-05-30
    days on market $179,900 Active 310 DOM
17. 2025-10-02
    price $179,900 261-char remark

    Show marketing remark (261 chars)

    Minutes from Corning and Watkins Glen. Recently updated single family home with full basement and detached 2 car garage/shop. Offering 3 bedrooms including master suite with private bath. Fenced private back yard with deck. Corning Painted Post school district.

18. 2025-08-12
    price $184,000 261-char remark

    Show marketing remark (261 chars)

    Minutes from Corning and Watkins Glen. Recently updated single family home with full basement and detached 2 car garage/shop. Offering 3 bedrooms including master suite with private bath. Fenced private back yard with deck. Corning Painted Post school district.

19. 2025-07-24
    listed $189,000 Active 261-char remark

    Show marketing remark (261 chars)

    Minutes from Corning and Watkins Glen. Recently updated single family home with full basement and detached 2 car garage/shop. Offering 3 bedrooms including master suite with private bath. Fenced private back yard with deck. Corning Painted Post school district.

20. 2022-03-22
    soldstatus $62,500
21. 2013-02-08
    soldstatus $39,000
22. 2013-02-05
    soldstatus $39,000 118-char remark

    Show marketing remark (118 chars)

    Very clean well maintained home with deck out back. Oversized 2 car detached garage. Newer furnace, newer applianaces.

23. 2012-11-19
    listed $49,900 118-char remark

    Show marketing remark (118 chars)

    Very clean well maintained home with deck out back. Oversized 2 car detached garage. Newer furnace, newer applianaces.

ⓘ 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: $920 · $77/mo
• Projected year-2 tax: $1,980 · $165/mo
• Expected delta: +$1,060/yr (+$88/mo · 115.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥92°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: $15,513
• − Mortgage interest: −$10,077
• − Property taxes: −$920
• − Insurance: −$900
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$5,233
• Taxable loss: −$4,099
• Est. tax savings @ 24.0%: +$984
• After-tax cash flow: $99/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: Corning City School District
• NCES district ID: 3608400
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 53% ▲ 4.00%
• Median HH income: $53,042
• Composite: 41.8/100
• National rank: #3392
• State rank: #406 of 590 in NY

Livability — Montour Falls

• Score: 63/100
• State rank: #786
• US rank: #15104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,961

Population outlook (Schuyler County) Hauer SSP2

• Today (2025): 17,999 people
• By 2030: 17,676 · -1.8%
• By 2040: 16,586 · -7.9%
• By 2050: 15,322 · -14.9%
• By 2075: 13,004 · -27.8%
• By 2100: 10,752 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Iranian 4% Romanian 3% Italian 2%
• Foreign-born: 2% · Canada, Dominican Republic
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Schuyler

• 2024 margin: Strong R (+21.0) · D 39.5% · R 60.5%
• 2008→2024 swing: -13.9pp toward R · 2008: -7.1pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+17.6 2016: R+28.7 2012: R+7.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.05%
• Current HPI: 276.1726
• 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

+260.5% since first listed

7 events — show timeline

• 2025-10-02 Price Changed $179,900 UNYREIS
• 2025-08-12 Price Changed $184,000 UNYREIS
• 2025-07-24 Listed $189,000 UNYREIS
• 2022-03-22 Sold (Public Records) $62,500 Public Records
• 2013-02-08 Sold (Public Records) $39,000 Public Records
• 2013-02-05 Sold (MLS) $39,000 UNYREIS
• 2012-11-19 Listed $49,900 UNYREIS

Property tax history

+1.6%/yr

Latest (2025): $920 · +0.0% YoY. Source: county tax records.