302 Diven Ave · Elmira, NY 14901

$129,900

4 bd · 1.0 ba · 1,781 sqft · SingleFamily public records · 23 Days on market

Built 1885 6,425 sqft lot

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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 +20.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Completely gutted and remodeled in 2022, this 3-bedroom, 1.5-bath home offers a spacious kitchen/dining room combo featuring a large custom-made island perfect for entertaining! Enjoy a relaxing jacuzzi tub, high-gloss laminate flooring, newer windows, an on-demand hot water system, and an inline water filtration system. The metal roof was installed in 2023, with a new asphalt driveway and sidewalk completed in 2024. Situated on a corner lot with a large side yard with an electric fence system already in place for pets, which can be turned on or off as needed. Located just a block from Eldridge Park and close to the Lackawanna Trail!

Key facts

• Metal roof
• Asphalt driveway
• Custom-made island

Tags

• CUSTOM-MADE ISLAND
• JACUZZI TUB
• ON-DEMAND HOT WATER SYSTEM
• INLINE WATER FILTRATION SYSTEM
• METAL ROOF
• ASPHALT DRIVEWAY

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water connected; Sewer connected
• Home design: 2-story residence; Resale property
• Construction: Aluminum siding; Metal roof; Existing structure
• Exterior features: Blacktop driveway; City street frontage; Rectangular residential lot (116 x 54)

Interior

• Kitchen: Gas cooktop; Refrigerator
• Flooring: Carpet; Laminate; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas heating; Window air-conditioning units
• Interior features: Eat-in kitchen; Kitchen island; Basement with dirt floor and walk-out access; 6 total rooms
• Laundry & utility: Laundry on main level; Electric water heater; Tankless water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 10.1% in Elmira — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 79 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($898 loan paydown + $13k 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $29k; list at $130k implies a 348% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1885 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.39%
• DSCR: 1.24
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $76,583
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1218 Lackawanna Ave	0.22mi	3/1.0 (-1)	1,763 (-1%)	15mo	$57,000	$32	71
1230 Lake St	0.36mi	4/1.5	1,768 (-1%)	13mo	$124,900	$71	69
918 Magee St	0.67mi	4/1.0	1,812 (+2%)	1mo	$112,000	$62	65
1201 Magee St	0.26mi	3/2.0 (-1)	1,686 (-5%)	8mo	$176,000	$104	64
1213 Magee St	0.24mi	3/2.0 (-1)	1,908 (+7%)	6mo	$189,361	$99	63
1315 Grand Central Ave	0.15mi	4/1.5	1,560 (-12%)	15mo	$54,000	$35	58
1227 Lake St	0.32mi	3/1.5 (-1)	1,664 (-7%)	11mo	$49,000	$29	58
229 Crete Ave	0.72mi	3/1.5 (-1)	1,730 (-3%)	3mo	$75,000	$43	52
756 Carpenter St	0.71mi	4/2.0	1,896 (+6%)	2mo	$105,000	$55	51
950 N Main St	0.67mi	4/1.5	1,644 (-8%)	7mo	$37,000	$23	48
965 Wisner	0.62mi	3/1.0 (-1)	1,890 (+6%)	16mo	$11,000	$6	43
957 Oak St	0.66mi	4/1.5	1,626 (-9%)	13mo	$54,590	$34	42

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: 28.2%
• Equity multiple: 3.23×
• Total profit: $81,198
• Equity at exit: $117,024

10-year hold

• IRR: 24.6%
• Equity multiple: 7.35×
• Total profit: $231,032
• Equity at exit: $252,367

Cash invested: $36,372 (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: 79
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$207 /mo · $2,488/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $163

Break-even live

Break-even rent $1,193

Max offer price $129,900

Occupancy floor 83%

Sensitivity live

Price	-10% $237	-5% $200	+0% $163	+5% $127	+10% $90
Rent	-10% $53	-5% $108	+0% $163	+5% $219	+10% $274
Rate	-1.0pp $229	-0.5pp $196	base $163	+0.5pp $130	+1.0pp $95

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	44d	1	1.21mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	1.27mi

Listing history 18 events

1. 2026-06-19
   days on market $129,900 Active 23 DOM
2. 2026-06-18
   days on market $129,900 Active 22 DOM
3. 2026-06-17
   days on market $129,900 Active 21 DOM
4. 2026-06-16
   days on market $129,900 Active 20 DOM
5. 2026-06-15
   days on market $129,900 Active 19 DOM
6. 2026-06-14
   days on market $129,900 Active 17 DOM
7. 2026-06-12
   days on market $129,900 Active 16 DOM
8. 2026-06-09
   days on market $129,900 Active 13 DOM
9. 2026-06-08
   days on market $129,900 Active 12 DOM
10. 2026-06-07
    days on market $129,900 Active 11 DOM
11. 2026-06-05
    days on market $129,900 Active 8 DOM
12. 2026-06-03
    days on market $129,900 Active 7 DOM
13. 2026-06-02
    days on market $129,900 Active 6 DOM
14. 2026-06-01
    days on market $129,900 Active 5 DOM
15. 2026-05-31
    days on market $129,900 Active 4 DOM
16. 2026-05-30
    days on market $129,900 Active 3 DOM
17. 2026-05-27
    listed $129,900 Active
18. 2019-10-17
    soldstatus $29,000

ⓘ 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: $2,488 · $207/mo
• Projected year-2 tax: $2,488 · $207/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 4/10 Moderate FEMA zone X (shaded) · 23% 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 2/10 Low 100% 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: $16,800
• − Mortgage interest: −$7,276
• − Property taxes: −$2,488
• − Insurance: −$650
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$3,779
• Taxable loss: −$81
• Est. tax savings @ 24.0%: +$19
• After-tax cash flow: $1,979/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

+347.9% since first listed

2 events — show timeline

• 2026-05-27 Listed $129,900 UNYREIS
• 2019-10-17 Sold (Public Records) $29,000 Public Records

Property tax history

+12.7%/yr

Latest (2025): $2,488 · -11.8% YoY. Source: county tax records.