1858 Davis St · Elmira, NY 14901

$80,000

3 bd · 1.5 ba · 1,428 sqft · SingleFamily public records · 62 Days on market

Built 1920 0.25 ac lot $56/sqft · 46% below area Est $147k · 46% under

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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 +27.7/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• DSCR +9.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

This 3 bedroom, 1 1/2 bath home offers classic charm and character throughout. The property is conveniently located near local amenities, shopping, and services. The home is being sold as-is, including the contents currently in the home, providing an opportunity for buyers to update and make it their own. Whether you're looking for your next project or a property with potential, this home is ready for its next chapter.

Key facts

• 0.25 acre lot
• Built 1920
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.

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: 78 active listings in the ZIP; 3 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 $9k of equity ($553 loan paydown + $8k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $30k; list at $80k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 1.52% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.93%
• DSCR: 1.58
• GRM: 5.5

CMA / ARV

• ARV (median comp): $147,312
• List price: $80,000
• Delta: -45.69%
• 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
1854 Davis St	0.01mi	3/1.5	1,396 (-2%)	10mo	$170,103	$122	88
224 Kingsbury Ave	0.24mi	3/1.5	1,404 (-2%)	6mo	$160,000	$114	82
236 Kendall Pl	0.27mi	3/1.0	1,457 (+2%)	13mo	$223,000	$153	71
208 Crete Ave	0.26mi	3/1.0	1,287 (-10%)	4mo	$176,000	$137	66
119 Verona St	0.48mi	3/1.5	1,390 (-3%)	10mo	$160,000	$115	65
1153 College Ave	0.63mi	3/1.0	1,480 (+4%)	5mo	$105,000	$71	58
336 W Center St	0.62mi	3/2.0	1,304 (-9%)	7mo	$115,000	$88	49
1158 College Ave	0.62mi	2/1.5 (-1)	1,488 (+4%)	14mo	$115,000	$77	48
1106 Walnut	0.69mi	2/1.0 (-1)	1,390 (-3%)	11mo	$94,000	$68	47
325 Noble St	0.49mi	3/1.0	1,237 (-13%)	9mo	$140,000	$113	45
218 Grant St	0.57mi	2/1.0 (-1)	1,580 (+11%)	5mo	$89,000	$56	44
1116 North Main St	0.73mi	3/1.0	1,228 (-14%)	3mo	$118,000	$96	38

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.8%
• Equity multiple: 3.64×
• Total profit: $59,059
• Equity at exit: $72,070

10-year hold

• IRR: 29.2%
• Equity multiple: 8.24×
• Total profit: $162,071
• Equity at exit: $155,422

Cash invested: $22,400 (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 14901

• Home prices YoY: 15.9%
• Active inventory: 78
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,214 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$265 /mo · $3,177/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $241

Break-even live

Break-even rent $908

Max offer price $80,000

Occupancy floor 75%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
263 W 13th St Unit Lower Elmira Heights, NY	3.0	1.0	900	$1,241	$1.38	43d	1	0.98mi
970 Scio St Elmira, NY	2.0	1.0	911	$1,200	$1.32	43d	1	1.03mi
258 E 14th St Elmira, NY	2.0	1.0	1100	$1,200	$1.09	43d	1	1.17mi

Listing history 9 events

1. 2026-05-18
   status Pending 424-char remark

   Show marketing remark (424 chars)

   This 3 bedroom, 1 1/2 bath home offers classic charm and character throughout. The property is conveniently located near local amenities, shopping, and services. The home is being sold as-is, including the contents currently in the home, providing an opportunity for buyers to update and make it their own. Whether you're looking for your next project or a property with potential, this home is ready for its next chapter.

2. 2026-03-17
   listed $80,000 Active 424-char remark

   Show marketing remark (424 chars)

   This 3 bedroom, 1 1/2 bath home offers classic charm and character throughout. The property is conveniently located near local amenities, shopping, and services. The home is being sold as-is, including the contents currently in the home, providing an opportunity for buyers to update and make it their own. Whether you're looking for your next project or a property with potential, this home is ready for its next chapter.

3. 2015-08-26
   soldstatus $30,000 58-char remark

   Show marketing remark (58 chars)

   House has lots of space and character. Needs a little TLC.

4. 2015-01-12
   listed $30,900 58-char remark

   Show marketing remark (58 chars)

   House has lots of space and character. Needs a little TLC.

5. 2006-07-19
   historical
6. 2006-06-13
   soldstatus $97,025
7. 2006-06-13
   soldstatus $35,000
8. 2006-04-21
   listed $42,900
9. 1998-01-20
   soldstatus $42,000

ⓘ 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: $3,177 · $265/mo
• Projected year-2 tax: $3,177 · $265/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 6/10 Major FEMA zone X · 69% 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 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: $14,565
• − Mortgage interest: −$4,481
• − Property taxes: −$3,177
• − Insurance: −$400
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$2,327
• Taxable income: $1,850
• Est. tax owed @ 24.0%: −$444
• After-tax cash flow: $2,452/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): 14,430

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 (70%)
• Race & ethnicity: White 70% Black 15% Two or more races 7% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Chinese 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: ▲ 32.34%
• Current HPI: 236.2674
• 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

+90.5% since first listed

9 events — show timeline

• 2026-05-18 Pending — UNYREIS
• 2026-03-17 Listed $80,000 UNYREIS
• 2015-08-26 Sold (MLS) $30,000 UNYREIS
• 2015-01-12 Listed $30,900 UNYREIS
• 2006-07-19 Listing Removed — UNYREIS
• 2006-06-13 Sold (Public Records) $35,000 Public Records
• 2006-06-13 Sold (Public Records) $97,025 Public Records
• 2006-04-21 Listed $42,900 UNYREIS
• 1998-01-20 Sold (Public Records) $42,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $3,177 · -12.2% YoY. Source: county tax records.