11980 River Rd · Big Flats, NY 14830

$40,000

3 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 10 Days on market

Built 1965 0.89 ac lot $31/sqft · 83% below area ↓ 60% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Ranch home setting up from the Road. 3 Bedrooms and 1 bath. 1 car garage attached. Needs work and has not been trashed out. Buyer and agent have to sign a Hold Harmless before showing. Subject to a 3 day FIrst Look Period. Upon expiration of First Look Seller will negotiate offers.

Key facts

• 0.89 acre lot
• Garage
• Built 1965

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Electricity connected; Private well water; Septic sewer
• Home design: Single-story existing home
• Construction: Composite siding; Asphalt roof; Block foundation
• Exterior features: Dirt driveway; Rectangular lot (approx. 0.89 acre, 113 x 300); Main thoroughfare frontage

Interior

• Kitchen: No specific appliances listed for the kitchen
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet; Vinyl; Varied flooring
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Gas-fired hot water heating
• Interior features: Breakfast area; Separate/formal living room; Bedroom on main level; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Cap rate 41.2% vs local median 2.9% in Big Flats — 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 (#464 in NY) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute 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: 106 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

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Steuben County population projected at -20% 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 4.56% ✓
• Cap rate: 41.18%
• Cash-on-cash: 124.61%
• DSCR: 6.54
• GRM: 1.8

CMA / ARV

• ARV (median comp): $242,279
• List price: $40,000
• Delta: -83.49%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
689 Steege Hill Rd	0.74mi	4/1.0 (+1)	1,226 (-4%)	7mo	$225,000	$184	49

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: —
• Equity multiple: 6.72×
• Total profit: $64,114
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 14.12×
• Total profit: $146,904
• Equity at exit: $3,458

Cash invested: $11,200 (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 14830

• Active inventory: 106
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,822 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $1,107

Break-even live

Break-even rent $420

Max offer price $40,000

Occupancy floor 34%

Sensitivity live

Price	-10% $1,135	-5% $1,121	+0% $1,107	+5% $1,094	+10% $1,080
Rent	-10% $964	-5% $1,035	+0% $1,107	+5% $1,179	+10% $1,251
Rate	-1.0pp $1,128	-0.5pp $1,118	base $1,107	+0.5pp $1,097	+1.0pp $1,087

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Bottchers Dr Big Flats, NY	2.0–3.0	1.5–2.0	1326	$2,065	$1.56	45d	2	1.19mi

Listing history 5 events

1. 2026-05-14
   listed $40,000 Active 282-char remark
2. 2024-03-05
   status Pending
3. 2024-03-01
   price $47,500
4. 2023-11-06
   price $95,000
5. 2023-10-10
   listed $100,000 Active

ⓘ 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 8/10 Severe FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°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: $21,865
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$866
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − Depreciation: −$1,164
• Taxable income: $13,496
• Est. tax owed @ 24.0%: −$3,239
• After-tax cash flow: $10,051/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 — Big Flats

• Score: 70/100
• State rank: #464
• US rank: #8086

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Steuben County · 41,193 people
• Metro: Corning, NY
• Population (ZIP): 19,015
• Household income: $73,263
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 565.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Asian/Pacific 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: ▼ -94.59%
• Current HPI: 173.9857
• 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

-60.0% since first listed

6 events — show timeline

• 2026-05-25 Pending — UNYREIS
• 2026-05-14 Listed $40,000 UNYREIS
• 2024-03-05 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-03-01 Price Changed $47,500 OneKey® MLS as Distributed by MLS Grid
• 2023-11-06 Price Changed $95,000 OneKey® MLS as Distributed by MLS Grid
• 2023-10-10 Listed $100,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $3,442 · +3.0% YoY. Source: county tax records.