5905 Morton Hill Rd · Hornell, NY 14843

$82,500

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 4 Days on market

Built 1973 0.94 ac lot $78/sqft · 33% below area Est $123k · 33% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.0/10.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity awaits with this ranch-style home set on a scenic property with beautiful rural views. The home offers single-level living and a spacious layout with several rooms ready for finishing touches and updates. A partially framed addition provides the potential to expand the living space and customize the home to suit your needs. The property sits on a picturesque lot surrounded by open space and mature trees, offering privacy and a peaceful setting while still being within a short drive to nearby amenities. With solid structure and room to improve, this property presents a great opportunity for investors, contractors, or buyers looking to build equity through renovation. Bring your vision and unlock the potential this property has to offer.

Key facts

• Open space
• Single level living
• Picturesque lot

Tags

• RANCH STYLE HOME
• SINGLE LEVEL LIVING
• PARTIALLY FRAMED ADDITION
• PICTURESQUE LOT
• OPEN SPACE
• MATURE TREES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).

Location & tenants

• Location reads 70/100 on livability (#451 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, schools D, crime F.
• Canisteo-Greenwood CSD (rural): math 51% / reading 53% proficiency, ranked #354 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($570 loan paydown + $3k appreciation (4.0% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $82,500

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 1.78% ✓
• Cap rate: 13.38%
• Cash-on-cash: 25.31%
• DSCR: 2.13
• GRM: 4.7

CMA / ARV

• ARV (median comp): $123,363
• List price: $82,500
• Delta: -33.12%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5846 Magee Rd	0.65mi	2/1.0 (-1)	1,050 (-1%)	21mo	$25,000	$24	46

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

Projected returns pro-forma

3.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.1%
• Equity multiple: 2.96×
• Total profit: $45,264
• Equity at exit: $41,577

10-year hold

• IRR: 32.5%
• Equity multiple: 5.88×
• Total profit: $112,776
• Equity at exit: $67,803

Cash invested: $23,100 (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 14843

• Home prices YoY: 1.9%
• Active inventory: 59
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,465 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$203 /mo · $2,439/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $487

Break-even live

Break-even rent $848

Max offer price $82,500

Occupancy floor 62%

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $82,500 Active 4 DOM
2. 2026-06-18
   days on market $82,500 Active 3 DOM
3. 2026-06-17
   days on market $82,500 Active 2 DOM
4. 2026-06-16
   days on marketlisting id $82,500 Active 1 DOM
5. 2026-06-14
   days on market $82,500 Active 89 DOM
6. 2026-06-12
   days on market $82,500 Active 88 DOM
7. 2026-06-09
   days on market $82,500 Active 85 DOM
8. 2026-06-08
   days on market $82,500 Active 84 DOM
9. 2026-06-07
   days on market $82,500 Active 83 DOM
10. 2026-06-05
    days on market $82,500 Active 80 DOM
11. 2026-06-03
    days on market $82,500 Active 79 DOM
12. 2026-06-02
    days on market $82,500 Active 78 DOM
13. 2026-06-01
    days on market $82,500 Active 77 DOM
14. 2026-05-31
    days on market $82,500 Active 76 DOM
15. 2026-05-30
    days on market $82,500 Active 75 DOM
16. 2026-04-20
    price $86,500 757-char remark

    Show marketing remark (757 chars)

    Opportunity awaits with this ranch-style home set on a scenic property with beautiful rural views. The home offers single-level living and a spacious layout with several rooms ready for finishing touches and updates. A partially framed addition provides the potential to expand the living space and customize the home to suit your needs. The property sits on a picturesque lot surrounded by open space and mature trees, offering privacy and a peaceful setting while still being within a short drive to nearby amenities. With solid structure and room to improve, this property presents a great opportunity for investors, contractors, or buyers looking to build equity through renovation. Bring your vision and unlock the potential this property has to offer.

17. 2026-03-16
    listed $89,900 Active 757-char remark

    Show marketing remark (757 chars)

    Opportunity awaits with this ranch-style home set on a scenic property with beautiful rural views. The home offers single-level living and a spacious layout with several rooms ready for finishing touches and updates. A partially framed addition provides the potential to expand the living space and customize the home to suit your needs. The property sits on a picturesque lot surrounded by open space and mature trees, offering privacy and a peaceful setting while still being within a short drive to nearby amenities. With solid structure and room to improve, this property presents a great opportunity for investors, contractors, or buyers looking to build equity through renovation. Bring your vision and unlock the potential this property has to offer.

18. 2016-09-28
    soldstatus $76,000

ⓘ 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: $2,439 · $203/mo
• Projected year-2 tax: $2,439 · $203/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥92°F today · 16 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: $17,582
• − Mortgage interest: −$4,621
• − Property taxes: −$2,439
• − Insurance: −$412
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$2,400
• Taxable income: $4,896
• Est. tax owed @ 24.0%: −$1,175
• After-tax cash flow: $4,671/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: Canisteo-Greenwood CSD
• NCES district ID: 3600124
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 53% ▲ 7.00%
• Median HH income: $47,928
• Composite: 44.25/100
• National rank: #2843
• State rank: #354 of 590 in NY

Livability — Hornell

• Score: 70/100
• State rank: #451
• US rank: #7888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Steuben County · 41,193 people
• City population: 12,383
• Metro: Corning, NY
• Population (ZIP): 12,383
• Household income: $57,874
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 415.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Arabic 1% Spanish 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: ▲ 3.95%
• Current HPI: 210.1986
• 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

+13.8% since first listed

3 events — show timeline

• 2026-04-20 Price Changed $86,500 UNYREIS
• 2026-03-16 Listed $89,900 UNYREIS
• 2016-09-28 Sold (Public Records) $76,000 Public Records

Property tax history

-1.7%/yr

Latest (2025): $2,439 · +11.4% YoY. Source: county tax records.