1210 Grand Central Ave · Elmira, NY 14901

$99,000

6 bd · 2.0 ba · 3,128 sqft · Townhouse public records · 8 Days on market

Built 1920 8,310 sqft lot $32/sqft · at area comps Est $101k · at est.

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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
• Appreciation +10.0/10.0
• ARV discount +8.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Spacious income producing property currently generating $2,000 a month. Boasting high ceilings with over 3,100 square feet!! Features newer and separate hot water tanks, separate gas AND electric meters, and 3 beds and a full bath on each side. A vinyl-sided garage, matching the home, is located at the rear of the property and is accessible via a private alleyway. Ideally situated near Wegmans, with close proximity to Arnot Art Museum, Downtown Elmira, Arnot Ogden Medical Center, and the Steele Memorial Library.

Key facts

• Private alleyway
• Vinyl-sided garage
• High ceilings

Tags

• HIGH CEILINGS
• SEPARATE HOT WATER TANKS
• VINYL-SIDED GARAGE
• PRIVATE ALLEYWAY

Property features AI

Finance

• Other: Separate gas and electric meters for each unit; Operating expense details: see remarks
• Financial info: Both units are month-to-month tenancy; Unit rents listed: one unit at $800, the other at $1,200; Tenants pay all utilities

Exterior

• Parking: 2-car garage; On-street parking; Multiple parking spaces available
• Utilities: Public water connected; Sewer connected
• Home design: Two-story building; Multifamily property with 2 total units; Resale condition
• Construction: Vinyl siding; Block foundation; Existing (not new) construction
• Exterior features: Rectangular lot (approx. 53 x 156)

Interior

• Kitchen: Unit kitchens include oven/range and refrigerator; Eat-in kitchen in each unit; Formal dining room in each unit
• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Hardwood; Laminate; Vinyl; Varies by area
• Bathrooms: Three full bathrooms total (unit breakdown: one unit with 2 full baths, one unit with 1 full bath)
• Heating & cooling: Gas forced-air heating
• Interior features: Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $99k.

Deal economics

• At list price, monthly cash flow is $661 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 14.3% vs local median 10.1% in Elmira — 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 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: 78 active listings in the ZIP; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($684 loan paydown + $10k appreciation (10.0% local appreciation)).
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $43k; list at $99k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1920 — 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 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?
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: 1.78% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.61%
• DSCR: 2.27
• GRM: 4.7

CMA / ARV

• ARV (median comp): $101,250
• List price: $99,000
• Delta: -2.22%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 W Washington Ave	0.62mi	6/2.0	3,233 (+3%)	4mo	$130,000	$40	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.0%
• Equity multiple: 4.47×
• Total profit: $96,060
• Equity at exit: $89,187

10-year hold

• IRR: 39.9%
• Equity multiple: 10.02×
• Total profit: $249,896
• Equity at exit: $192,335

Cash invested: $27,720 (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 14901

• Home prices YoY: 15.9%
• Active inventory: 78
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,763 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$172 /mo · $2,058/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $661

Break-even live

Break-even rent $927

Max offer price $99,000

Occupancy floor 58%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-05
   status Pending 517-char remark
2. 2026-04-27
   listed $99,000 Active 517-char remark
3. 2008-10-29
   historical
4. 2008-04-29
   listed $49,900
5. 2007-09-13
   historical
6. 2007-03-13
   listed $49,900
7. 2006-09-11
   soldstatus $43,000

ⓘ 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: $2,058 · $172/mo
• Projected year-2 tax: $2,058 · $172/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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°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: $21,155
• − Mortgage interest: −$5,546
• − Property taxes: −$2,058
• − Insurance: −$495
• − Repairs & maintenance: −$1,692
• − Management: −$1,692
• − Depreciation: −$2,880
• Taxable income: $6,792
• Est. tax owed @ 24.0%: −$1,630
• After-tax cash flow: $6,299/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): 14,430

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 (70%)
• Race & ethnicity: White 70% Black 15% Two or more races 7% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Chinese 1%

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: ▲ 32.34%
• Current HPI: 236.2674
• 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

+130.2% since first listed

7 events — show timeline

• 2026-05-05 Pending — UNYREIS
• 2026-04-27 Listed $99,000 UNYREIS
• 2008-10-29 Listing Removed — UNYREIS
• 2008-04-29 Listed $49,900 UNYREIS
• 2007-09-13 Listing Removed — UNYREIS
• 2007-03-13 Listed $49,900 UNYREIS
• 2006-09-11 Sold (Public Records) $43,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $2,058 · -11.4% YoY. Source: county tax records.