1218 Lackawanna Ave · Elmira, NY 14901

$115,000

3 bd · 1.0 ba · 1,763 sqft · SingleFamily public records · 8 Days on market

Built 1890 9,620 sqft lot Est $99k · 16% over

---

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 +25.0/30.0
• Appreciation +10.0/10.0
• DSCR +8.2/10.0
• 1% rule +6.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.1/15.0

Listing remarks MLS

Welcome to this 3-bedroom, 1-bathroom home with updates and inviting spaces throughout! Featuring new flooring in the kitchen, laundry room, and bathroom, this home also offers the convenience of a first-floor laundry area. The bathroom has updated plumbing and a new vanity. Relax in the spacious, enclosed porch—a perfect spot to enjoy summer days, read a book, or sip your morning coffee. Close to grocery stores, schools, and highway access, with a sizable backyard ideal for outdoor activities.

Key facts

• Gutter on sun porch
• 1st floor laundry
• Mud room

Tags

• NEWER KITCHEN FLOORING
• NEWER BATHROOM FLOORING
• 1ST FLOOR LAUNDRY
• MUD ROOM
• GUTTER ON SUN PORCH
• HIGH EFFICIENCY FURNACE

Property features AI

Exterior

• Parking: No garage
• Utilities: Cable available; Public water (connected); Sewer connected
• Home design: Two-story existing residence; Stone foundation
• Construction: Aluminum siding; Stucco exterior
• Exterior features: Gravel driveway; Rectangular residential lot; City street frontage

Interior

• Kitchen: Free-standing range; Oven; Range hood; Exhaust fan; Refrigerator; Eat-in kitchen
• Bedrooms: Total rooms: 7 (includes living areas; bedroom count not specified)
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Thermal windows; Separate/formal dining room; Eat-in kitchen; Enclosed porch; Porch; Sunroom / Florida room
• Laundry & utility: Main level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).

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; 5 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 $12k of equity ($795 loan paydown + $12k 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 $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 22y 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; list at $115k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1890 — 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: 1.16% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.39%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $98,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1230 Lake St	0.23mi	4/1.5 (+1)	1,768 (+0%)	13mo	$124,900	$71	71
1227 Lake St	0.20mi	3/1.5	1,664 (-6%)	11mo	$49,000	$29	70
1201 Magee St	0.35mi	3/2.0	1,686 (-4%)	8mo	$176,000	$104	66
918 Magee St	0.53mi	4/1.0 (+1)	1,812 (+3%)	1mo	$112,000	$62	65
1213 Magee St	0.37mi	3/2.0	1,908 (+8%)	6mo	$189,361	$99	60
1315 Grand Central Ave	0.11mi	4/1.5 (+1)	1,560 (-12%)	15mo	$54,000	$35	56
319 Webber Pl	0.69mi	3/1.5	1,716 (-3%)	8mo	$145,000	$84	55
756 Carpenter St	0.50mi	4/2.0 (+1)	1,896 (+8%)	2mo	$105,000	$55	54
218 Grant St	0.43mi	2/1.0 (-1)	1,580 (-10%)	5mo	$89,000	$56	53
950 N Main St	0.54mi	4/1.5 (+1)	1,644 (-7%)	7mo	$37,000	$23	50
957 Oak St	0.44mi	4/1.5 (+1)	1,626 (-8%)	13mo	$54,590	$34	49
314 W Washington Ave	0.72mi	4/1.0 (+1)	1,916 (+9%)	12mo	$100,000	$52	37

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: 31.1%
• Equity multiple: 3.44×
• Total profit: $78,711
• Equity at exit: $103,601

10-year hold

• IRR: 26.9%
• Equity multiple: 7.81×
• Total profit: $219,221
• Equity at exit: $223,420

Cash invested: $32,200 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$603
• Tax from tax record: −$154 /mo · $1,850/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $252

Break-even live

Break-even rent $1,019

Max offer price $115,000

Occupancy floor 76%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	43d	1	1.09mi
357 W Clinton St Unit 1 Elmira, NY	2.0	1.5	1650	$1,500	$0.91	43d	1	1.10mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	43d	1	1.11mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	43d	1	1.34mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	43d	1	1.47mi

Listing history 8 events

1. 2026-06-19
   days on market $115,000 Active 8 DOM
2. 2026-06-18
   days on market $115,000 Active 7 DOM
3. 2026-06-17
   days on market $115,000 Active 6 DOM
4. 2026-06-16
   days on market $115,000 Active 5 DOM
5. 2026-06-15
   days on market $115,000 Active 4 DOM
6. 2026-06-14
   days on market $115,000 Active 2 DOM
7. 2026-06-12
   remarks 699-char remark
8. 2026-06-12
   listed $115,000 Active 1 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: $1,850 · $154/mo
• Projected year-2 tax: $1,896 · $158/mo
• Expected delta: +$47/yr (+$4/mo · 2.5%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $16,058
• − Mortgage interest: −$6,442
• − Property taxes: −$1,850
• − Insurance: −$575
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$3,345
• Taxable income: $1,277
• Est. tax owed @ 24.0%: −$306
• After-tax cash flow: $2,718/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

+411.1% since first listed

17 events — show timeline

• 2026-06-11 Listed $115,000 UNYREIS
• 2025-03-31 Sold (Public Records) $57,000 Public Records
• 2025-03-18 Sold (MLS) $57,000 UNYREIS
• 2025-02-13 Listed — UNYREIS
• 2024-10-25 Listed $69,900 UNYREIS
• 2023-11-28 Sold (MLS) $30,000 UNYREIS
• 2023-03-03 Listed $39,900 UNYREIS
• 2022-08-16 Listing Removed — UNYREIS
• 2022-08-08 Listed $44,900 UNYREIS
• 2013-01-28 Listing Removed — UNYREIS
• 2012-07-27 Listing Removed — UNYREIS
• 2012-01-31 Listed $19,900 UNYREIS
• 2012-01-31 Listed $18,400 UNYREIS
• 2005-05-31 Sold (Public Records) $24,250 Public Records
• 2005-05-27 Sold (MLS) $24,250 UNYREIS
• 2004-10-29 Listed $31,000 UNYREIS
• 1991-04-10 Sold (Public Records) $22,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,850 · -16.0% YoY. Source: county tax records.