637 Pennsylvania Ave · Elmira, NY 14904

$92,000

4 bd · 2.5 ba · 1,607 sqft · SingleFamily public records · 26 Days on market

Built 1880 7,405 sqft lot Est $108k · 15% 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 +28.8/30.0
• ARV discount +14.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• 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

4 bedroom corner lot on the Southside of town with completely fenced in back yard, large rooms with lots of natural lighting, first floor laundry with half bath and possible first floor bedroom and easy conversion to a first floor full bath if needed. This home was built in 1880 and has semi open floor plan, with large rooms and high ceilings, and walk up attic that would be easy to convert to more living space, an additional living space or extra storage area with lots space. Quick walk to city public transportation along with several local public neighborhood parks, and local shopping centers. Owner is licensed real estate salesperson and the listing agent, will consider most reasonable o

Key facts

• 7,405 sq ft lot
• Parking
• Built 1880

Property features AI

Exterior

• Parking: No garage; Driveway parking
• Utilities: Public water connected; Sewer connected
• Home design: 2-story residence; Existing (resale) property
• Construction: Aluminum siding; Stone foundation; Attic/crawl space hatchway(s) insulated; Spray foam insulation; Has full, walk-up basement with exterior entry and dirt floor
• Exterior features: Covered porch; Fully fenced yard; Corner lot; Pie-shaped lot; Lot dimensions approximately 70 x 110

Interior

• Kitchen: Gas oven; Gas range; Range hood; Refrigerator; Exhaust fan
• Flooring: Ceramic tile; Hardwood; Laminate; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Separate/formal dining room; Living/dining room combo
• Laundry & utility: Washer included; Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Recommended offer: $91k (1.5% 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: 104 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $636 of loan paydown is wiped out by about $3k 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 $26k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y 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 $24k; list at $92k implies a 283% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $56/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,620 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.45% ✓
• Cap rate: 10.32%
• Cash-on-cash: 14.38%
• DSCR: 1.64
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $107,669
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
777 Pennsylvania Ave	0.30mi	4/1.5	1,620 (+1%)	6mo	$110,000	$68	76
631 Pennsylvania Ave	0.03mi	4/1.0	1,787 (+11%)	2mo	$67,000	$37	72
551 Lyon St	0.27mi	3/1.0 (-1)	1,586 (-1%)	3mo	$158,000	$100	72
421 Jefferson St	0.40mi	3/1.5 (-1)	1,688 (+5%)	5mo	$85,106	$50	60
558 Coburn St	0.53mi	4/1.5	1,716 (+7%)	0mo	$125,020	$73	60
609 Chester St	0.54mi	3/1.5 (-1)	1,618 (+1%)	7mo	$110,000	$68	59
254 South Ave	0.22mi	3/1.5 (-1)	1,828 (+14%)	2mo	$109,000	$60	56
507 Partridge St	0.67mi	3/1.5 (-1)	1,592 (-1%)	3mo	$106,500	$67	56
239 Robert St	0.54mi	4/1.0	1,512 (-6%)	6mo	$50,000	$33	54
478 Mount Zoar St	0.54mi	4/1.0	1,456 (-9%)	2mo	$35,000	$24	51
309 Broadway St	0.60mi	4/1.0	1,468 (-9%)	3mo	$78,000	$53	49
705 Holdridge St	0.53mi	4/1.5	1,844 (+15%)	7mo	$133,000	$72	41

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: 1.4%
• Equity multiple: 1.05×
• Total profit: $1,338
• Equity at exit: $13,717

10-year hold

• IRR: 11.1%
• Equity multiple: 1.87×
• Total profit: $22,416
• Equity at exit: $7,954

Cash invested: $25,760 (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: 104
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,331 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$222 /mo · $2,660/yr
• Insurance: −$38
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $253

Break-even live

Break-even rent $1,010

Max offer price $92,000

Occupancy floor 76%

Sensitivity live

Price	-10% $305	-5% $279	+0% $253	+5% $227	+10% $201
Rent	-10% $148	-5% $201	+0% $253	+5% $306	+10% $358
Rate	-1.0pp $300	-0.5pp $277	base $253	+0.5pp $229	+1.0pp $205

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	1.06mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	1.31mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	1.39mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	44d	1	1.49mi

Listing history 23 events

1. 2026-05-31
   days on market $92,000 Active 26 DOM
2. 2026-05-30
   days on market $92,000 Active 25 DOM
3. 2026-05-23
   status Active
4. 2026-05-06
   status Active
5. 2026-04-16
   historical
6. 2026-04-15
   price $92,000
7. 2026-04-14
   price $85,900
8. 2026-04-07
   price $90,000
9. 2026-04-07
   price $78,900
10. 2026-03-24
    listed $90,000 Active
11. 2021-10-21
    soldstatus $24,000
12. 2019-11-04
    historical
13. 2019-05-03
    listed $55,000
14. 2019-05-01
    historical
15. 2018-10-29
    listed $55,000
16. 2018-01-18
    historical
17. 2017-05-19
    listed $45,000
18. 2016-06-24
    historical
19. 2015-08-13
    listed $60,000
20. 2002-12-27
    soldstatus $20,000
21. 2002-12-26
    soldstatus $20,000
22. 2002-08-09
    listed $24,500
23. 1994-08-22
    soldstatus $10,000

ⓘ 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: $2,660 · $222/mo
• Projected year-2 tax: $2,660 · $222/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 8/10 Severe FEMA zone X · 78% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $15,968
• − Mortgage interest: −$5,153
• − Property taxes: −$2,660
• − Insurance: −$1,126
• − Repairs & maintenance: −$1,277
• − Management: −$1,277
• − Depreciation: −$2,676
• Taxable income: $1,796
• Est. tax owed @ 24.0%: −$431
• After-tax cash flow: $2,607/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

+820.0% since first listed

21 events — show timeline

• 2026-05-23 Relisted — UNYREIS
• 2026-05-06 Relisted — UNYREIS
• 2026-04-16 Listing Removed — UNYREIS
• 2026-04-15 Price Changed $92,000 UNYREIS
• 2026-04-14 Price Changed $85,900 UNYREIS
• 2026-04-07 Price Changed $90,000 UNYREIS
• 2026-04-07 Price Changed $78,900 UNYREIS
• 2026-03-24 Listed $90,000 UNYREIS
• 2021-10-21 Sold (Public Records) $24,000 Public Records
• 2019-11-04 Listing Removed — UNYREIS
• 2019-05-03 Listed $55,000 UNYREIS
• 2019-05-01 Listing Removed — UNYREIS
• 2018-10-29 Listed $55,000 UNYREIS
• 2018-01-18 Listing Removed — UNYREIS
• 2017-05-19 Listed $45,000 UNYREIS
• 2016-06-24 Listing Removed — UNYREIS
• 2015-08-13 Listed $60,000 UNYREIS
• 2002-12-27 Sold (Public Records) $20,000 Public Records
• 2002-12-26 Sold (MLS) $20,000 UNYREIS
• 2002-08-09 Listed $24,500 UNYREIS
• 1994-08-22 Sold (Public Records) $10,000 Public Records

Property tax history

+11.9%/yr

Latest (2025): $2,660 · -17.8% YoY. Source: county tax records.