217 E 3rd St · Corning, NY 14830

$190,000

4 bd · 2.0 ba · 1,780 sqft · SingleFamily public records · 141 Days on market

Built 1890 0.27 ac lot Est $178k · 7% over

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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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +4.5/15.0
• 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

Well upkept 4 bed 2 full bath house on a massive fenced in double lot. This house is handicap accessible with a a poured concrete ramp leading from the sidewalk to the front door. The first floor bathroom features a curbless shower. Updates include a 30 year architectural shingle roof and seamless gutters only three years old. this property has a nice dry concrete floor basement with a walk out door to the back yard. The back yard has a large parking pad accessible from Etruscan lane with abundant space, enough for two vehicles. This home is spacious and move in ready with beautiful natural light. Situated in a nice neighborhood only several blocks to Market St or Denison park.

Key facts

• Seamless gutters
• Walk out door
• Handicap accessible

Tags

• HANDICAP ACCESSIBLE
• POURED CONCRETE RAMP
• CURBLESS SHOWER
• SEAMLESS GUTTERS
• DRY CONCRETE FLOOR BASEMENT
• WALK OUT DOOR

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $795 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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; 2 comparable units currently listed for rent nearby; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% 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 $1k of loan paydown is wiped out by about $6k 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 $53k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $40k; list at $190k implies a 375% 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 $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.36% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.94%
• DSCR: 1.80
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $178,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 E Second St	0.25mi	3/2.0 (-1)	1,769 (-1%)	8mo	$132,000	$75	76
175 E 3rd St	0.09mi	4/2.0	1,991 (+12%)	6mo	$199,000	$100	70
385 Watauga Avenue Ext	0.37mi	4/1.5	1,798 (+1%)	10mo	$115,000	$64	70
315 E 2nd St	0.22mi	4/2.0	1,932 (+8%)	11mo	$86,000	$45	66
183 Columbia St	0.06mi	3/2.0 (-1)	1,586 (-11%)	12mo	$132,000	$83	64
10 Corning Blvd	0.72mi	4/2.5	1,804 (+1%)	5mo	$245,000	$136	58
213 Wall St	0.28mi	3/2.0 (-1)	1,932 (+8%)	12mo	$260,000	$135	58
241 Walnut St	0.61mi	3/1.5 (-1)	1,822 (+2%)	8mo	$85,000	$47	54
110 W 5th St	0.75mi	3/2.0 (-1)	1,805 (+1%)	9mo	$303,000	$168	50
330 E Third St	0.23mi	3/1.5 (-1)	1,559 (-12%)	15mo	$114,000	$73	49
104 W 5th St	0.73mi	3/2.0 (-1)	1,710 (-4%)	12mo	$222,000	$130	44
65 Glen Ave	0.67mi	3/1.0 (-1)	1,584 (-11%)	12mo	$162,900	$103	31

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: 9.5%
• Equity multiple: 1.37×
• Total profit: $19,859
• Equity at exit: $28,330

10-year hold

• IRR: 18.6%
• Equity multiple: 2.55×
• Total profit: $82,516
• Equity at exit: $16,428

Cash invested: $53,200 (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 14830

• Active inventory: 106
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,592 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$177 /mo · $2,128/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $795

Break-even live

Break-even rent $1,586

Max offer price $190,000

Occupancy floor 64%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	43d	1	0.17mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	43d	3	1.40mi

Listing history 6 events

1. 2026-04-07
   status Pending
2. 2026-02-10
   price $190,000
3. 2026-01-28
   status Active
4. 2026-01-15
   status Pending
5. 2025-11-04
   listed $199,000 Active
6. 2024-10-31
   soldstatus $40,000

ⓘ 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: $2,128 · $177/mo
• Projected year-2 tax: $2,670 · $222/mo
• Expected delta: +$541/yr (+$45/mo · 25.4%)

ⓘ 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 3/10 Moderate 7 d/yr ≥94°F today · 16 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: $31,110
• − Mortgage interest: −$10,643
• − Property taxes: −$2,128
• − Insurance: −$950
• − Repairs & maintenance: −$2,489
• − Management: −$2,489
• − Depreciation: −$5,527
• Taxable income: $6,884
• Est. tax owed @ 24.0%: −$1,652
• After-tax cash flow: $7,890/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

+375.0% since first listed

6 events — show timeline

• 2026-04-07 Pending — UNYREIS
• 2026-02-10 Price Changed $190,000 UNYREIS
• 2026-01-28 Relisted — UNYREIS
• 2026-01-15 Pending — UNYREIS
• 2025-11-04 Listed $199,000 UNYREIS
• 2024-10-31 Sold (Public Records) $40,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $2,128 · -0.7% YoY. Source: county tax records.