1268 County Road 19 · Montour Falls, NY 14812

$495,999

8 bd · None ba · 8,048 sqft · MultiFamily public records · 64 Days on market

Built 1960 0.91 ac lot

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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 +24.9/30.0
• Appreciation +8.5/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

If you are looking for a home w/ extra income, or a motivated investor looking for a great opportunity this property could be yours. In the heart of the finger lakes, with 5 nearby lakes, Watkins Glen International race track, state parks, winery’s, nascar, Corning museum of glass, mark twain museum, windmill market, and several other sights to see and do, all within a short drive. This property is currently producing income with potential for producing more. This multi unit consists of a 3 bedroom apt w/ full bath on left side of building. On the first floor is 1 studio apt w/ half bath, 3 additional rooms w/ 2 half baths, shower, and shared kitchen with common area. Also a laundry room, rear deck, and handicap accessible front porch. Second floor you will find 7 rooms, 1 full bath, 2 half baths, and a large deck overlooking back yard. Full basement has some finished space, several storage rooms, office space, 1 forced air furnace, 1 boiler, 2 hot water heaters. Add in the basement sq ft , this property is over 8000 sq ft. The spacious . 9 acre lot, offers plenty of room for future expansion or development. Perfect for Airbnb. Seller is motivated and looking to retire.

Key facts

• Water heaters
• Laundry room
• Electric sub panels

Tags

• LAUNDRY ROOM
• REAR DECK
• FULL BASEMENT
• MULTIPLE HEATING SYSTEMS
• WATER HEATERS
• ELECTRIC SUB PANELS

What this means for you Summary

Snapshot

• This is a 8-bed/?-bath multifamily listed at $496k.

Deal economics

• At list price, monthly cash flow is $758 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $496k).
• Recommended offer: $466k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#786 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety D, schools F, amenities F.
• 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: 16 active listings in the ZIP; 52 units permitted in Schuyler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $38k of equity ($3k loan paydown + $35k appreciation (7.0% local appreciation)).
• Schuyler County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.0% appreciation + 3.0% rent growth), your $139k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($466k) is reasonable based on typical stale-listing flexibility.
• 3 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 $51k; list at $496k implies a 880% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $466,239 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 2.61×
• Total profit: $223,043
• Equity at exit: $345,419

10-year hold

• IRR: 21.4%
• Equity multiple: 5.41×
• Total profit: $611,937
• Equity at exit: $657,690

Cash invested: $138,880 (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 14812

• Home prices YoY: 2.6%
• Active inventory: 16
• Price-to-rent: 30.6×

Monthly cashflow live

• Estimated rent: $5,056 medium
• Mortgage (P&I): −$2,601
• Tax from tax record: −$115 /mo · $1,376/yr
• Insurance: −$207
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,062
• Net cashflow: $758

Break-even live

Break-even rent $4,096

Max offer price $495,999

Occupancy floor 80%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,352
1× unit	1	0.5	$1,000
▸ 2× units	3	0.5	$2,704
Total (4 units)			$5,056

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: $124,000
• Closing costs: $14,880
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $495,999 Active 64 DOM
2. 2026-06-18
   days on market $495,999 Active 63 DOM
3. 2026-06-17
   days on market $495,999 Active 62 DOM
4. 2026-06-16
   days on market $495,999 Active 61 DOM
5. 2026-06-15
   days on market $495,999 Active 60 DOM
6. 2026-06-14
   days on market $495,999 Active 58 DOM
7. 2026-06-12
   days on market $495,999 Active 57 DOM
8. 2026-06-09
   days on market $495,999 Active 54 DOM
9. 2026-06-08
   days on market $495,999 Active 53 DOM
10. 2026-06-07
    days on market $495,999 Active 52 DOM
11. 2026-06-05
    days on market $495,999 Active 49 DOM
12. 2026-06-03
    pricedays on market $495,999 Active 48 DOM
13. 2026-06-02
    days on market $499,999 Active 47 DOM
14. 2026-06-01
    days on market $499,999 Active 46 DOM
15. 2026-05-31
    days on market $499,999 Active 45 DOM
16. 2026-05-30
    days on market $499,999 Active 44 DOM
17. 2026-04-16
    status Active 1194-char remark

    Show marketing remark (1194 chars)

    If you are looking for a home w/ extra income, or a motivated investor looking for a great opportunity this property could be yours. In the heart of the finger lakes, with 5 nearby lakes, Watkins Glen International race track, state parks, winery’s, nascar, Corning museum of glass, mark twain museum, windmill market, and several other sights to see and do, all within a short drive. This property is currently producing income with potential for producing more. This multi unit consists of a 3 bedroom apt w/ full bath on left side of building. On the first floor is 1 studio apt w/ half bath, 3 additional rooms w/ 2 half baths, shower, and shared kitchen with common area. Also a laundry room, rear deck, and handicap accessible front porch. Second floor you will find 7 rooms, 1 full bath, 2 half baths, and a large deck overlooking back yard. Full basement has some finished space, several storage rooms, office space, 1 forced air furnace, 1 boiler, 2 hot water heaters. Add in the basement sq ft , this property is over 8000 sq ft. The spacious . 9 acre lot, offers plenty of room for future expansion or development. Perfect for Airbnb. Seller is motivated and looking to retire.

18. 2026-04-15
    listed $499,999 Active 1194-char remark

    Show marketing remark (1194 chars)

    If you are looking for a home w/ extra income, or a motivated investor looking for a great opportunity this property could be yours. In the heart of the finger lakes, with 5 nearby lakes, Watkins Glen International race track, state parks, winery’s, nascar, Corning museum of glass, mark twain museum, windmill market, and several other sights to see and do, all within a short drive. This property is currently producing income with potential for producing more. This multi unit consists of a 3 bedroom apt w/ full bath on left side of building. On the first floor is 1 studio apt w/ half bath, 3 additional rooms w/ 2 half baths, shower, and shared kitchen with common area. Also a laundry room, rear deck, and handicap accessible front porch. Second floor you will find 7 rooms, 1 full bath, 2 half baths, and a large deck overlooking back yard. Full basement has some finished space, several storage rooms, office space, 1 forced air furnace, 1 boiler, 2 hot water heaters. Add in the basement sq ft , this property is over 8000 sq ft. The spacious . 9 acre lot, offers plenty of room for future expansion or development. Perfect for Airbnb. Seller is motivated and looking to retire.

19. 2026-03-26
    historical
20. 2025-09-25
    price $519,000
21. 2025-03-26
    listed $549,000 Active
22. 2011-10-26
    soldstatus $50,600

ⓘ 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: $1,376 · $115/mo
• Projected year-2 tax: $4,879 · $407/mo
• Expected delta: +$3,503/yr (+$292/mo · 254.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone A · 72% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 8 d/yr ≥92°F today · 17 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: $60,672
• − Mortgage interest: −$27,784
• − Property taxes: −$1,376
• − Insurance: −$6,245
• − Repairs & maintenance: −$4,854
• − Management: −$4,854
• − Depreciation: −$14,429
• Taxable income: $1,130
• Est. tax owed @ 24.0%: −$271
• After-tax cash flow: $8,825/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 — Montour Falls

• Score: 63/100
• State rank: #786
• US rank: #15104

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment F Housing B+ Health & safety D User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,961

Population outlook (Schuyler County) Hauer SSP2

• Today (2025): 17,999 people
• By 2030: 17,676 · -1.8%
• By 2040: 16,586 · -7.9%
• By 2050: 15,322 · -14.9%
• By 2075: 13,004 · -27.8%
• By 2100: 10,752 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Iranian 4% Romanian 3% Italian 2%
• Foreign-born: 2% · Canada, Dominican Republic
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Schuyler

• 2024 margin: Strong R (+21.0) · D 39.5% · R 60.5%
• 2008→2024 swing: -13.9pp toward R · 2008: -7.1pp · 2024: -21.0pp
• All cycles: 2024: R+21.0 2020: R+17.6 2016: R+28.7 2012: R+7.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.05%
• Current HPI: 276.1726
• 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

+888.1% since first listed

6 events — show timeline

• 2026-04-16 Relisted — UNYREIS
• 2026-04-15 Listed $499,999 UNYREIS
• 2026-03-26 Listing Removed — UNYREIS
• 2025-09-25 Price Changed $519,000 UNYREIS
• 2025-03-26 Listed $549,000 UNYREIS
• 2011-10-26 Sold (Public Records) $50,600 Public Records

Property tax history

-12.6%/yr

Latest (2025): $1,376 · +0.0% YoY. Source: county tax records.