176 N Franklin St · Corning, NY 14830

$100,000

4 bd · 2.0 ba · 2,352 sqft · SingleFamily public records · 72 Days on market

Built 1973 0.54 ac lot ↓ 43% 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
• 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

LISTED BELOW ASSESSED VALUE!!! This split foyer is ready for you to make it your own. This home has four bedrooms, two bathrooms, and more than plenty of living space for everyday life and so much charm. The open floor plan flows throughout the home. With the ability to choose your own updates you can make it the way you want. The covered back porch overlooks the fully fenced in back yard. Shopping, entertainment, and highway access within minutes.

Key facts

• Open floor plan
• Covered back porch
• 0.54 acre lot

Tags

• OPEN FLOOR PLAN
• COVERED BACK PORCH
• FULLY FENCED IN BACK YARD

Property features AI

Exterior

• Parking: Attached garage (1 car); Underground garage access
• Utilities: Public water connected; Sewer connected
• Home design: Single-story home; Existing construction
• Construction: Wood siding; Block foundation
• Exterior features: Corner lot; Rectangular lot; See remarks

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Gas heating; Hot water heating
• Interior features: Living/dining room; Bedroom on main level; Main-level primary bedroom; Full basement (finished area present)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 8.0% in Corning — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $74k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price.

Recommended offer $94,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 1973 — 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 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?
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: 1.98% ✓
• Cap rate: 13.93%
• Cash-on-cash: 27.29%
• DSCR: 2.21
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $206,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
181 Dwight Ave	0.42mi	4/2.0	2,572 (+9%)	3mo	$230,000	$89	62
229 Dodge Ave	0.33mi	4/1.5	2,082 (-12%)	2mo	$190,800	$92	62
28 Hamilton Rd	0.35mi	3/2.0 (-1)	2,592 (+10%)	1mo	$229,000	$88	60
291 Bridge St. Ext	0.34mi	5/2.5 (+1)	2,481 (+6%)	13mo	$182,000	$73	57
80 Griffith St	0.36mi	4/2.0	2,100 (-11%)	16mo	$135,000	$64	52
223 Onondaga St	0.40mi	3/2.0 (-1)	2,131 (-9%)	11mo	$243,000	$114	51
128 W Pulteney St	0.61mi	3/2.0 (-1)	2,257 (-4%)	11mo	$139,000	$62	50
219 Oneida Pl	0.48mi	4/1.5	2,115 (-10%)	11mo	$205,000	$97	49
187 Cutler Ave	0.49mi	3/1.5 (-1)	2,129 (-10%)	11mo	$180,000	$85	45
177 W Pulteney St	0.57mi	4/2.0	2,130 (-9%)	19mo	$154,600	$73	42
198 Bridge St	0.52mi	3/2.0 (-1)	2,047 (-13%)	15mo	$159,000	$78	36
233 W William St	0.64mi	4/2.0	2,064 (-12%)	18mo	$199,900	$97	34

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: 21.4%
• Equity multiple: 1.88×
• Total profit: $24,521
• Equity at exit: $14,910

10-year hold

• IRR: 29.6%
• Equity multiple: 3.65×
• Total profit: $74,281
• Equity at exit: $8,646

Cash invested: $28,000 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,982 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$363 /mo · $4,353/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $637

Break-even live

Break-even rent $1,176

Max offer price $100,000

Occupancy floor 63%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-19
   days on market $100,000 Active 72 DOM
2. 2026-06-18
   days on market $100,000 Active 71 DOM
3. 2026-06-17
   days on market $100,000 Active 70 DOM
4. 2026-06-16
   days on market $100,000 Active 69 DOM
5. 2026-06-15
   days on market $100,000 Active 68 DOM
6. 2026-06-14
   days on market $100,000 Active 66 DOM
7. 2026-06-12
   days on market $100,000 Active 65 DOM
8. 2026-06-09
   remarks 452-char remark
9. 2026-06-09
   listed $100,000 Active 62 DOM

ⓘ 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: $4,353 · $363/mo
• Projected year-2 tax: $4,353 · $363/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥95°F today · 17 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: $23,779
• − Mortgage interest: −$5,602
• − Property taxes: −$4,353
• − Insurance: −$500
• − Repairs & maintenance: −$1,902
• − Management: −$1,902
• − Depreciation: −$2,909
• Taxable income: $6,611
• Est. tax owed @ 24.0%: −$1,587
• After-tax cash flow: $6,053/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

-42.5% since first listed

5 events — show timeline

• 2026-06-09 Relisted — UNYREIS
• 2026-06-09 Price Changed $100,000 UNYREIS
• 2026-01-31 Price Changed $120,000 UNYREIS
• 2026-01-15 Price Changed $150,000 UNYREIS
• 2025-12-19 Listed $174,000 UNYREIS

Property tax history

+4.3%/yr

Latest (2025): $4,353 · -1.5% YoY. Source: county tax records.