201 Dennis Ave · Hornell, NY 14843

$125,000

2 bd · 1.0 ba · 1,250 sqft · SingleFamily public records · 17 Days on market

Built 1890 8,200 sqft lot Est $111k · 12% over

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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 +23.0/30.0
• DSCR +7.4/10.0
• Appreciation +7.0/10.0
• 1% rule +5.8/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0

Listing remarks

Welcome to this small charming home located on a quiet street in the heart of Hornell! This property offers a great combination of comfort, convenience, and value perfect for a first-time buyer, or someone seeking to downsize, or anyone looking to enjoy small-town living. Step inside to find a warm and inviting layout with plenty of natural light throughout. The home features a spacious living area that flows nicely for everyday living and entertaining. The kitchen offers ample cabinet space and connects easily to the dining area, making mealtime a breeze. There are no appliances. There is one large bedroom- comfortably sized with closet space, and a 2nd bedroom that is very small with no c

Key facts

• Functional layout
• 8,200 sq ft lot
• Built 1890

Tags

• QUIET RESIDENTIAL STREET
• FUNCTIONAL LAYOUT

Property features AI

Exterior

• Home design: House
• Construction: 1250 sq ft living area
• Exterior features: 8200 sq ft lot

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 12.6% in Hornell — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 61 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($864 loan paydown + $5k 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 $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $125k implies a 733% 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 $123,125 (1.5% below list)

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 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?
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: 1.08% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $111,250
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
48 Bemis Ave	0.45mi	3/1.0 (+1)	1,230 (-2%)	8mo	$55,000	$45	65
167 Dennis Ave	0.14mi	2/1.5	1,422 (+14%)	12mo	$165,000	$116	59
39 William St	0.26mi	3/2.0 (+1)	1,364 (+9%)	10mo	$183,500	$135	56
147 Dennis Ave	0.23mi	1/1.5 (-1)	1,350 (+8%)	17mo	$105,000	$78	54
27 E Washington St	0.42mi	3/1.5 (+1)	1,350 (+8%)	7mo	$119,900	$89	54
31 Maplewood Ave	0.67mi	3/1.0 (+1)	1,296 (+4%)	6mo	$47,000	$36	52
43 Adsit St	0.60mi	3/1.5 (+1)	1,085 (-13%)	7mo	$119,900	$111	37
27 Armory Pl	0.57mi	3/1.5 (+1)	1,372 (+10%)	23mo	$90,000	$66	31

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: 17.0%
• Equity multiple: 2.02×
• Total profit: $35,625
• Equity at exit: $62,996

10-year hold

• IRR: 17.8%
• Equity multiple: 3.84×
• Total profit: $99,407
• Equity at exit: $102,732

Cash invested: $35,000 (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: 61
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,348 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$135 /mo · $1,620/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $223

Break-even live

Break-even rent $1,067

Max offer price $125,000

Occupancy floor 78%

Sensitivity live

Price	-10% $293	-5% $258	+0% $223	+5% $187	+10% $152
Rent	-10% $116	-5% $169	+0% $223	+5% $276	+10% $329
Rate	-1.0pp $286	-0.5pp $254	base $223	+0.5pp $190	+1.0pp $157

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
54 Bemis Ave Hornell, NY	2.0	1.0	1801	$1,300	$0.72	45d	1	0.41mi

Listing history 13 events

1. 2026-06-21
   days on market $125,000 Active 17 DOM
2. 2026-06-19
   days on market $125,000 Active 15 DOM
3. 2026-06-18
   days on market $125,000 Active 14 DOM
4. 2026-06-17
   days on market $125,000 Active 13 DOM
5. 2026-06-16
   days on market $125,000 Active 12 DOM
6. 2026-06-15
   days on market $125,000 Active 11 DOM
7. 2026-06-14
   days on market $125,000 Active 9 DOM
8. 2026-06-12
   days on market $125,000 Active 8 DOM
9. 2026-06-09
   days on market $125,000 Active 5 DOM
10. 2026-06-08
    days on market $125,000 Active 4 DOM
11. 2026-06-07
    days on market $125,000 Active 3 DOM
12. 2026-06-07
    remarks 699-char remark
13. 2026-06-07
    listed $125,000 Active 2 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: $1,620 · $135/mo
• Projected year-2 tax: $1,866 · $156/mo
• Expected delta: +$246/yr (+$21/mo · 15.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $16,181
• − Mortgage interest: −$7,002
• − Property taxes: −$1,620
• − Insurance: −$625
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$3,636
• Taxable income: $708
• Est. tax owed @ 24.0%: −$170
• After-tax cash flow: $2,501/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: 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

+733.3% since first listed

2 events — show timeline

• 2026-06-04 Listed $125,000 ForSaleByOwner.com
• 2011-02-14 Sold (Public Records) $15,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $1,620 · -0.4% YoY. Source: county tax records.