704 Maple Ave · Elmira, NY 14904

$74,900

3 bd · 1.0 ba · 1,674 sqft · SingleFamily public records · 42 Days on market

Built 1910 7,512 sqft lot Est $102k · 27% under

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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 +28.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BIG 3 BEDROOM, NICE SIZED YARD, GREAT POTENTIAL, FINISHED ATTIC. SOLD AS IS NO WARRENTIES, NO GUARANTEES. SEE AGENT NOTES FOR SHOWING INSTRUCTIONS.

Key facts

• Attic flex space
• Room for play
• Room for expansion

Tags

• ATTIC FLEX SPACE
• PARTIALLY FENCED YARD
• ROOM FOR GARDENING
• ROOM FOR PLAY
• ROOM FOR EXPANSION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% 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: 101 active listings in the ZIP; 9 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

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Chemung County population projected at -17% 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 $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 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 $57k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1910 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.57% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.60%
• DSCR: 1.60
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $102,114
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
704 Maple Ave	0.00mi	3/1.0	1,674 (0%)	1mo	$69,000	$41	99
708 Riverside Ave	0.07mi	4/1.5 (+1)	1,484 (-11%)	6mo	$83,000	$56	65
308 Catherine St	0.42mi	3/1.0	1,688 (+1%)	22mo	$58,000	$34	61
301 E Miller St	0.20mi	3/1.0	1,912 (+14%)	12mo	$148,000	$77	57
404 Schuyler Ave	0.37mi	3/1.5	1,518 (-9%)	10mo	$32,000	$21	57
404 Phoenix Ave	0.32mi	3/2.0	1,536 (-8%)	13mo	$133,010	$87	56
250 Schuyler Ave	0.36mi	4/2.0 (+1)	1,808 (+8%)	8mo	$110,000	$61	54
952 Erie St	0.52mi	4/1.5 (+1)	1,750 (+4%)	11mo	$127,200	$73	52
114 E Hudson St	0.56mi	4/2.0 (+1)	1,732 (+4%)	10mo	$125,000	$72	51
310 E Miller	0.22mi	4/2.0 (+1)	1,862 (+11%)	17mo	$31,000	$17	47
808 Moore St	0.31mi	3/2.0	1,440 (-14%)	14mo	$113,000	$78	46
612 Lewis St	0.73mi	4/1.5 (+1)	1,705 (+2%)	13mo	$70,000	$41	45

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: 3.8%
• Equity multiple: 1.15×
• Total profit: $3,121
• Equity at exit: $11,168

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $22,714
• Equity at exit: $6,476

Cash invested: $20,972 (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 14904

• Home prices YoY: -9.6%
• Active inventory: 101
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,178 high
• Mortgage (P&I): −$393
• Tax from tax record: −$269 /mo · $3,224/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $238

Break-even live

Break-even rent $877

Max offer price $74,900

Occupancy floor 75%

Sensitivity live

Price	-10% $280	-5% $259	+0% $238	+5% $216	+10% $195
Rent	-10% $145	-5% $191	+0% $238	+5% $284	+10% $331
Rate	-1.0pp $275	-0.5pp $257	base $238	+0.5pp $218	+1.0pp $198

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	44d	1	0.57mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	0.95mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	1.11mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	1.17mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	44d	1	1.43mi
357 W Clinton St Unit 1 Elmira, NY	2.0	1.5	1650	$1,500	$0.91	44d	1	1.43mi
1254 Charles St Elmira, NY	2.0	1.0	1560	$1,350	$0.87	44d	1	1.44mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	44d	1	1.45mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	1.50mi

Listing history 5 events

1. 2026-01-02
   status Pending
2. 2025-12-15
   historical Active Under Contract
3. 2025-11-21
   listed $74,900 Active
4. 2006-12-04
   soldstatus $57,341 147-char remark

   Show marketing remark (147 chars)

   BIG 3 BEDROOM, NICE SIZED YARD, GREAT POTENTIAL, FINISHED ATTIC. SOLD AS IS NO WARRENTIES, NO GUARANTEES. SEE AGENT NOTES FOR SHOWING INSTRUCTIONS.

5. 2006-07-17
   listed $53,900 147-char remark

   Show marketing remark (147 chars)

   BIG 3 BEDROOM, NICE SIZED YARD, GREAT POTENTIAL, FINISHED ATTIC. SOLD AS IS NO WARRENTIES, NO GUARANTEES. SEE AGENT NOTES FOR SHOWING INSTRUCTIONS.

ⓘ 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: $3,224 · $269/mo
• Projected year-2 tax: $3,224 · $269/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $14,131
• − Mortgage interest: −$4,196
• − Property taxes: −$3,224
• − Insurance: −$374
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − Depreciation: −$2,179
• Taxable income: $1,897
• Est. tax owed @ 24.0%: −$455
• After-tax cash flow: $2,396/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): 14,276

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 7% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica, Dominican Republic
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -23.33%
• Current HPI: 220.688
• 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

+39.0% since first listed

5 events — show timeline

• 2026-01-02 Pending — CNYIS
• 2025-12-15 Contingent — CNYIS
• 2025-11-21 Listed $74,900 CNYIS
• 2006-12-04 Sold (MLS) $57,341 UNYREIS
• 2006-07-17 Listed $53,900 UNYREIS

Property tax history

+7.9%/yr

Latest (2025): $3,224 · -25.1% YoY. Source: county tax records.