187 W 4th St · Corning, NY 14830

$150,000

2 bd · 1.0 ba · 1,302 sqft · SingleFamily public records · 3 Days on market

Built 1970 10,395 sqft lot Est $150k · at est.

---

Why this score? — see what drove the C- 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 +20.3/30.0
• ARV discount +7.4/15.0
• DSCR +6.5/10.0
• 1% rule +6.3/10.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right in and enjoy this great opportunity to be on the southside hill for under 100k, nice large flat back yard, views from the front windows, hardwood floors throughout, some new australian cypress, semi updated bath and kitchen. Fresh paint throughout, newer lighting fixtures, 1 car under garage and basement could be finished for more space.

Key facts

• Covered deck
• New mudroom
• Large flat backyard

Tags

• LARGE FLAT BACKYARD
• HARDWOOD FLOORS
• UPDATED KITCHEN
• COVERED DECK
• NEW MUDROOM
• POTENTIAL TO FINISH

Property features AI

Exterior

• Parking: Underground heated garage with garage door opener; 1-car garage
• Utilities: Electricity connected; Public water connected; Sewer connected; High-speed internet available
• Home design: Single-story existing home; Block foundation; Asphalt shingle roof; Composite siding
• Construction: Built (existing); Composite siding construction; Block foundation; Asphalt shingle roof
• Exterior features: Blacktop driveway; Deck; Rectangular residential lot (approx. 0.2386 acres, 63 x 165); City street frontage

Interior

• Kitchen: Gas oven; Gas range; Dishwasher; Refrigerator; Water purifier (rented)
• Bedrooms: Three main-level bedrooms
• Flooring: Hardwood; Vinyl; Varied flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal living room; Living/dining room; Bedroom on main level; Full walk-out basement with sump pump
• Laundry & utility: Washer and dryer in basement; Water heater (rented); Water softener (rented)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

Location & tenants

• Location reads 87/100 on livability (#14 in NY, #334 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: employment D.
• 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: 106 active listings in the ZIP; 8 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y 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 $88k; list at $150k implies a 70% gain — meaningful room to come down on a strong offer.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1970 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.52%
• DSCR: 1.25
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $149,730
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 W 1st St	0.24mi	2/1.5	1,323 (+2%)	1mo	$145,500	$110	83
128 W Fourth St	0.11mi	2/2.0	1,218 (-6%)	2mo	$165,000	$135	79
139 W 4th St	0.09mi	2/1.0	1,140 (-12%)	1mo	$110,000	$96	74
317 W 1st St	0.38mi	2/1.0	1,199 (-8%)	2mo	$95,000	$79	68
131 W Fifth St	0.13mi	3/1.5 (+1)	1,398 (+7%)	12mo	$175,000	$125	64
273 Sunset Dr	0.38mi	2/1.0	1,182 (-9%)	13mo	$75,000	$63	56
225 Second St W	0.19mi	3/1.5 (+1)	1,474 (+13%)	8mo	$210,000	$142	56
290 Sunset Dr	0.38mi	3/1.0 (+1)	1,204 (-8%)	14mo	$138,900	$115	54
125 W Sixth St	0.20mi	3/2.0 (+1)	1,133 (-13%)	12mo	$165,340	$146	50
385 Sunset Dr	0.55mi	3/1.0 (+1)	1,474 (+13%)	7mo	$170,000	$115	42
249 Sunset Dr	0.35mi	3/2.5 (+1)	1,480 (+14%)	13mo	$216,500	$146	39
60 W William St	0.70mi	3/1.0 (+1)	1,179 (-9%)	10mo	$120,000	$102	38

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: -7.7%
• Equity multiple: 0.72×
• Total profit: $-11,906
• Equity at exit: $22,365

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $5,850
• Equity at exit: $12,969

Cash invested: $42,000 (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 14830

• Active inventory: 106
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,689 high
• Mortgage (P&I): −$787
• Tax from tax record: −$292 /mo · $3,502/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $193

Break-even live

Break-even rent $1,444

Max offer price $150,000

Occupancy floor 84%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
125 W Market St Corning, NY	1.0	1.0	1026	$1,600	$1.56	44d	1	0.36mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,295	$1.15	44d	3	0.61mi
90 E Market St Unit 2 Corning, NY	2.0	1.0	1044	$2,200	$2.11	44d	1	0.64mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	44d	1	0.79mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	44d	1	1.02mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	44d	1	1.06mi
311 Denison Pkwy E Unit 201 Corning, NY	1.0	1.0	920	$1,350	$1.47	44d	1	1.09mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	44d	1	1.26mi

Listing history 10 events

1. 2026-05-21
   status Pending
2. 2026-05-18
   listed $150,000 Active
3. 2014-07-01
   soldstatus $88,000
4. 2014-06-27
   soldstatus $88,000 350-char remark

   Show marketing remark (350 chars)

   Move right in and enjoy this great opportunity to be on the southside hill for under 100k, nice large flat back yard, views from the front windows, hardwood floors throughout, some new australian cypress, semi updated bath and kitchen. Fresh paint throughout, newer lighting fixtures, 1 car under garage and basement could be finished for more space.

5. 2013-10-14
   listed $87,700 350-char remark

   Show marketing remark (350 chars)

   Move right in and enjoy this great opportunity to be on the southside hill for under 100k, nice large flat back yard, views from the front windows, hardwood floors throughout, some new australian cypress, semi updated bath and kitchen. Fresh paint throughout, newer lighting fixtures, 1 car under garage and basement could be finished for more space.

6. 2013-06-03
   historical
7. 2013-03-19
   listed $92,900
8. 2011-11-23
   soldstatus $75,000
9. 2011-11-21
   soldstatus $75,000
10. 2011-07-23
    listed $87,500

ⓘ 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: $3,502 · $292/mo
• Projected year-2 tax: $3,502 · $292/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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $20,267
• − Mortgage interest: −$8,402
• − Property taxes: −$3,502
• − Insurance: −$750
• − Repairs & maintenance: −$1,621
• − Management: −$1,621
• − Depreciation: −$4,364
• Taxable income: $6
• Est. tax owed @ 24.0%: −$2
• After-tax cash flow: $2,318/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 — Corning

• Score: 87/100
• State rank: #14
• US rank: #334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corning, NY
• County: Steuben County · 41,193 people
• City population: 19,015
• Metro: Corning, NY
• Population (ZIP): 19,015
• Household income: $73,263
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 565.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Asian/Pacific 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: ▼ -94.59%
• Current HPI: 173.9857
• 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

+71.4% since first listed

10 events — show timeline

• 2026-05-21 Pending — UNYREIS
• 2026-05-18 Listed $150,000 UNYREIS
• 2014-07-01 Sold (Public Records) $88,000 Public Records
• 2014-06-27 Sold (MLS) $88,000 UNYREIS
• 2013-10-14 Listed $87,700 UNYREIS
• 2013-06-03 Listing Removed — UNYREIS
• 2013-03-19 Listed $92,900 UNYREIS
• 2011-11-23 Sold (Public Records) $75,000 Public Records
• 2011-11-21 Sold (MLS) $75,000 UNYREIS
• 2011-07-23 Listed $87,500 UNYREIS

Property tax history

+4.1%/yr

Latest (2025): $3,502 · -1.9% YoY. Source: county tax records.