340 E High St · Painted Post, NY 14870

$48,900

3 bd · 2.0 ba · 1,308 sqft · SingleFamily public records · 52 Days on market

Built 1900 7,000 sqft lot $37/sqft · 71% below area ↓ 11% since listing

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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
• Schools +4.2/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this 3-bedroom, 2-bath home located right in the heart of Painted Post. Offering a spacious layout, this property features a rare double living room, perfect for entertaining or creating separate living spaces, along with a formal dining room ideal for gatherings and holiday meals. The home also includes a 2-car garage, providing ample storage and convenience. With solid bones and plenty of character, this property is ready for your vision and updates. Being sold as-is, this is a fantastic chance for investors, flippers, or buyers looking to build equity and make it their own.

Key facts

• 7,000 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#255 in NY, #4,036 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, commute 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: Rents soft (-1.4%/yr); 44 active listings in the ZIP; 7 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; solid renter incomes; 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 $338 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $47,433 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.21% ✓
• Cap rate: 28.40%
• Cash-on-cash: 78.94%
• DSCR: 4.51
• GRM: 2.6

CMA / ARV

• ARV (median comp): $168,392
• List price: $48,900
• Delta: -70.96%
• 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
350 E High St	0.02mi	3/1.0	1,396 (+7%)	3mo	$100,000	$72	82
36 Clark St	0.30mi	4/1.0 (+1)	1,272 (-3%)	7mo	$143,617	$113	67
10237 Oakwood Dr	0.55mi	3/1.5	1,348 (+3%)	2mo	$155,000	$115	66
385 Imperial Ave	0.27mi	3/1.0	1,170 (-11%)	1mo	$150,000	$128	65
10282 Rand St	0.34mi	4/1.0 (+1)	1,312 (+0%)	14mo	$103,000	$79	63
209 Fuller Ave	0.62mi	3/2.0	1,326 (+1%)	9mo	$180,000	$136	61
26 Balcom Ave	0.51mi	4/1.5 (+1)	1,326 (+1%)	8mo	$118,000	$89	60
367 Olive St	0.29mi	3/1.5	1,111 (-15%)	6mo	$58,000	$52	55
82 Riverside Cir	0.31mi	2/1.0 (-1)	1,124 (-14%)	3mo	$140,000	$125	50
564 Freeman St	0.42mi	3/1.0	1,434 (+10%)	14mo	$173,630	$121	49
165 Dwight Ave	0.69mi	2/1.0 (-1)	1,296 (-1%)	10mo	$193,000	$149	49
301 Cayuta St	0.70mi	2/2.0 (-1)	1,245 (-5%)	9mo	$174,900	$140	47

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 75.6%
• Equity multiple: 4.28×
• Total profit: $44,870
• Equity at exit: $7,291

10-year hold

• IRR: 78.5%
• Equity multiple: 7.96×
• Total profit: $95,277
• Equity at exit: $4,228

Cash invested: $13,692 (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 14870

• Home prices YoY: -28.8%
• Rents YoY: -1.4%
• Active inventory: 44
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,568 high
• Mortgage (P&I): −$256
• Tax est. 1.5%: −$61 /mo · $734/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $901

Break-even live

Break-even rent $428

Max offer price $48,900

Occupancy floor 38%

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: $12,225
• Closing costs: $1,467
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 W High St Unit 201 Painted Post, NY	2.0	1.0	1000	$1,150	$1.15	44d	1	0.35mi
402 W High St Painted Post, NY	3.0	1.0	1000	$1,375	$1.38	44d	1	0.58mi
459 Brainard Pl Painted Post, NY	3.0	1.0	1090	$1,500	$1.38	44d	1	0.70mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	44d	1	0.79mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	44d	1	0.99mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	44d	3	1.07mi
12 Pondview Ct Painted Post, NY	3.0	1.0–2.0	948	$1,890	$1.99	44d	27	1.37mi

Listing history 9 events

1. 2026-05-30
   statusdays on market $48,900 Pending 52 DOM
2. 2026-05-19
   historical Active Under Contract 607-char remark

   Show marketing remark (607 chars)

   Opportunity awaits with this 3-bedroom, 2-bath home located right in the heart of Painted Post. Offering a spacious layout, this property features a rare double living room, perfect for entertaining or creating separate living spaces, along with a formal dining room ideal for gatherings and holiday meals. The home also includes a 2-car garage, providing ample storage and convenience. With solid bones and plenty of character, this property is ready for your vision and updates. Being sold as-is, this is a fantastic chance for investors, flippers, or buyers looking to build equity and make it their own.

3. 2026-04-08
   listed $48,900 Active 607-char remark

   Show marketing remark (607 chars)

   Opportunity awaits with this 3-bedroom, 2-bath home located right in the heart of Painted Post. Offering a spacious layout, this property features a rare double living room, perfect for entertaining or creating separate living spaces, along with a formal dining room ideal for gatherings and holiday meals. The home also includes a 2-car garage, providing ample storage and convenience. With solid bones and plenty of character, this property is ready for your vision and updates. Being sold as-is, this is a fantastic chance for investors, flippers, or buyers looking to build equity and make it their own.

4. 2026-03-31
   historical
5. 2026-03-13
   price $53,900
6. 2025-12-17
   price $58,900
7. 2025-10-06
   listed $64,900 Active
8. 2002-07-31
   soldstatus $55,000
9. 2002-07-31
   soldstatus $69,900

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥95°F today · 17 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: $18,814
• − Mortgage interest: −$2,739
• − Property taxes: −$734
• − Insurance: −$244
• − Repairs & maintenance: −$1,505
• − Management: −$1,505
• − Depreciation: −$1,423
• Taxable income: $10,664
• Est. tax owed @ 24.0%: −$2,559
• After-tax cash flow: $8,249/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 — Painted Post

• Score: 75/100
• State rank: #255
• US rank: #4036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Painted Post, NY
• County: Steuben County · 41,193 people
• City population: 9,795
• Metro: Corning, NY
• Population (ZIP): 9,795
• Household income: $84,476
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 289.0

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 (84%)
• Race & ethnicity: White 84% Asian 8% Two or more races 5% Black 2% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Italian 3% Slovak 2%
• Foreign-born: 8% · China, South Korea, Canada
• Languages at home: 90% English-only · Chinese 4% Other Indo-European 2% Korean 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: ▼ -70.45%
• Current HPI: 174.2287
• Rent YoY: ▼ -1.35%
• 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

-11.1% since first listed

8 events — show timeline

• 2026-05-19 Contingent — UNYREIS
• 2026-04-08 Listed $48,900 UNYREIS
• 2026-03-31 Listing Removed — UNYREIS
• 2026-03-13 Price Changed $53,900 UNYREIS
• 2025-12-17 Price Changed $58,900 UNYREIS
• 2025-10-06 Listed $64,900 UNYREIS
• 2002-07-31 Sold (Public Records) $69,900 Public Records
• 2002-07-31 Sold (Public Records) $55,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $4,265 · +3.6% YoY. Source: county tax records.