47 Cedar · Hornell, NY 14843

$34,900

2 bd · 1.0 ba · 800 sqft · Manufactured · 212 Days on market

Built 1984 Fair condition 16 ac lot $44/sqft · 3418% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

This well-maintained single-wide home in the desirable 55+ Woodlands Community offers comfortable, low-maintenance living just minutes from the City of Hornell and all the amenities the area provides. Inside, you’ll find an inviting open-concept kitchen and living room combo, creating a bright and functional main living space. The home features 2 bedrooms and 1 full bathroom, making it an ideal fit for downsizing or simplified living. Enjoy additional convenience with a covered porch, perfect for relaxing outdoors, along with a carport for sheltered parking and an on-site storage shed for tools or seasonal items. This peaceful, community-oriented setting provides easy access to shopping, dining, medical services, and more—an excellent opportunity for affordable living in a prime location.

Key facts

• Covered porch
• Open-concept kitchen
• On-site storage shed

Tags

• OPEN-CONCEPT KITCHEN
• COVERED PORCH
• CARPORT
• ON-SITE STORAGE SHED
• COMMUNITY-ORIENTED SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $35k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 30.3% vs local median 13.3% in Hornell — 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 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.
• Hornell City School District (town): math 33% / reading 49% proficiency, ranked #519 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($241 loan paydown + $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Recommended offer $30,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
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: 3.41% ✓
• Cap rate: 30.32%
• Cash-on-cash: 85.82%
• DSCR: 4.82
• GRM: 2.4

CMA / ARV

• ARV (median comp): $995
• List price: $34,900
• Delta: 3407.54%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 90.8%
• Equity multiple: 6.17×
• Total profit: $50,513
• Equity at exit: $17,588

10-year hold

• IRR: 89.8%
• Equity multiple: 12.81×
• Total profit: $115,360
• Equity at exit: $28,683

Cash invested: $9,772 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,190 medium
• Mortgage (P&I): −$183
• Tax est. 1.5%: −$44 /mo · $524/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $699

Break-even live

Break-even rent $305

Max offer price $34,900

Occupancy floor 36%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $34,900 Active 212 DOM
2. 2026-06-18
   days on market $34,900 Active 211 DOM
3. 2026-06-17
   days on market $34,900 Active 210 DOM
4. 2026-06-16
   days on market $34,900 Active 209 DOM
5. 2026-06-15
   days on market $34,900 Active 208 DOM
6. 2026-06-14
   days on market $34,900 Active 206 DOM
7. 2026-06-12
   days on market $34,900 Active 205 DOM
8. 2026-06-09
   days on market $34,900 Active 202 DOM
9. 2026-06-08
   days on market $34,900 Active 201 DOM
10. 2026-06-07
    days on market $34,900 Active 200 DOM
11. 2026-06-07
    days on market $34,900 Active 199 DOM
12. 2026-06-03
    days on market $34,900 Active 196 DOM
13. 2026-06-02
    days on market $34,900 Active 195 DOM
14. 2026-06-01
    days on market $34,900 Active 194 DOM
15. 2026-05-31
    days on market $34,900 Active 193 DOM
16. 2026-05-30
    days on market $34,900 Active 192 DOM
17. 2025-11-12
    listed $34,900 Active 811-char remark

    Show marketing remark (811 chars)

    This well-maintained single-wide home in the desirable 55+ Woodlands Community offers comfortable, low-maintenance living just minutes from the City of Hornell and all the amenities the area provides. Inside, you’ll find an inviting open-concept kitchen and living room combo, creating a bright and functional main living space. The home features 2 bedrooms and 1 full bathroom, making it an ideal fit for downsizing or simplified living. Enjoy additional convenience with a covered porch, perfect for relaxing outdoors, along with a carport for sheltered parking and an on-site storage shed for tools or seasonal items. This peaceful, community-oriented setting provides easy access to shopping, dining, medical services, and more—an excellent opportunity for affordable living in a prime location.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥91°F today · 18 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: $14,279
• − Mortgage interest: −$1,955
• − Property taxes: −$524
• − Insurance: −$174
• − Repairs & maintenance: −$1,142
• − Management: −$1,142
• − Depreciation: −$1,015
• Taxable income: $8,326
• Est. tax owed @ 24.0%: −$1,998
• After-tax cash flow: $6,388/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.

Condition & rehab AI · 1 photo

Fair 45/100 Cosmetic rehab

A well-maintained single-wide home in a desirable community, ready for a fresh coat of paint and some minor updates to boost its resale and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Clean windows — Improves natural light and aesthetics
• Both Replace carpet — Freshens interior and adds value
• Both Update kitchen appliances — Modernizes space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Clean windows — Improves natural light and aesthetics ↑
• Both Replace carpet — Freshens interior and adds value ↑
• Both Update kitchen appliances — Modernizes space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hornell City School District
• NCES district ID: 3614820
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $40,251
• Composite: 34.33/100
• National rank: #5234
• State rank: #519 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

• Census place: Hornell, NY
• 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

1 event — show timeline

• 2025-11-12 Listed $34,900 UNYREIS