315 Sullivan St · Elmira, NY 14901

$110,000

3 bd · 1.0 ba · 1,516 sqft · SingleFamily public records · 151 Days on market

Built 1872 0.31 ac lot $73/sqft · 35% above area Est $82k · 35% 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 +24.8/30.0
• Appreciation +10.0/10.0
• DSCR +8.0/10.0
• 1% rule +6.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Come tour this recently updated 3 bedroom, 1-bath property. Equipped with a dining room perfect for gatherings, a first-floor laundry room for added convenience. Off-street parking adds to the ease of everyday living. A wonderful opportunity to own a move-in-ready home with space to grow!

Key facts

• Bonus room
• Dining room
• Off-street parking

Tags

• DINING ROOM
• FIRST-FLOOR LAUNDRY ROOM
• BONUS ROOM
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

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: 81 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $110k implies a 450% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1872 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1872 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.19% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• GRM: 7.0

CMA / ARV

• ARV (median comp): $81,588
• List price: $110,000
• Delta: 34.82%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 Jay St	0.11mi	3/1.5	1,568 (+3%)	11mo	$34,500	$22	78
421 High St	0.24mi	3/1.5	1,435 (-5%)	0mo	$100,000	$70	78
600 Beach St	0.33mi	3/1.5	1,432 (-6%)	10mo	$77,319	$54	65
810 Oak St	0.60mi	3/1.0	1,341 (-12%)	6mo	$13,500	$10	48
720 German St	0.49mi	4/2.0 (+1)	1,620 (+7%)	17mo	$50,000	$31	43
310 Sly St	0.71mi	3/1.5	1,359 (-10%)	6mo	$75,000	$55	42
308 Catherine St	0.75mi	3/1.0	1,688 (+11%)	22mo	$58,000	$34	28

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: 30.9%
• Equity multiple: 3.43×
• Total profit: $74,796
• Equity at exit: $99,097

10-year hold

• IRR: 26.8%
• Equity multiple: 7.78×
• Total profit: $208,679
• Equity at exit: $213,706

Cash invested: $30,800 (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: 81
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,309 high
• Mortgage (P&I): −$577
• Tax from tax record: −$178 /mo · $2,136/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $233

Break-even live

Break-even rent $1,014

Max offer price $110,000

Occupancy floor 77%

Sensitivity live

Price	-10% $295	-5% $264	+0% $233	+5% $202	+10% $171
Rent	-10% $130	-5% $181	+0% $233	+5% $285	+10% $336
Rate	-1.0pp $288	-0.5pp $261	base $233	+0.5pp $205	+1.0pp $176

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	45d	1	0.70mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	45d	1	1.00mi
357 W Clinton St Unit 1 Elmira, NY	2.0	1.5	1650	$1,500	$0.91	45d	1	1.01mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	45d	1	1.04mi
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	45d	1	1.07mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	45d	1	1.21mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	45d	1	1.34mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	45d	1	1.47mi

Listing history 21 events

1. 2026-06-21
   days on market $110,000 Active 151 DOM
2. 2026-06-19
   days on market $110,000 Active 149 DOM
3. 2026-06-18
   days on market $110,000 Active 148 DOM
4. 2026-06-17
   days on market $110,000 Active 147 DOM
5. 2026-06-16
   days on market $110,000 Active 146 DOM
6. 2026-06-15
   days on market $110,000 Active 145 DOM
7. 2026-06-14
   days on market $110,000 Active 143 DOM
8. 2026-06-12
   days on market $110,000 Active 142 DOM
9. 2026-06-09
   days on market $110,000 Active 139 DOM
10. 2026-06-08
    days on market $110,000 Active 138 DOM
11. 2026-06-07
    days on market $110,000 Active 137 DOM
12. 2026-06-05
    days on market $110,000 Active 134 DOM
13. 2026-06-03
    days on market $110,000 Active 133 DOM
14. 2026-06-02
    days on market $110,000 Active 132 DOM
15. 2026-06-01
    days on market $110,000 Active 131 DOM
16. 2026-05-31
    days on market $110,000 Active 130 DOM
17. 2026-05-30
    days on market $110,000 Active 129 DOM
18. 2026-05-04
    price $110,000 289-char remark

    Show marketing remark (289 chars)

    Come tour this recently updated 3 bedroom, 1-bath property. Equipped with a dining room perfect for gatherings, a first-floor laundry room for added convenience. Off-street parking adds to the ease of everyday living. A wonderful opportunity to own a move-in-ready home with space to grow!

19. 2026-04-17
    price $115,000 289-char remark

    Show marketing remark (289 chars)

    Come tour this recently updated 3 bedroom, 1-bath property. Equipped with a dining room perfect for gatherings, a first-floor laundry room for added convenience. Off-street parking adds to the ease of everyday living. A wonderful opportunity to own a move-in-ready home with space to grow!

20. 2026-01-19
    listed $125,000 Active 289-char remark

    Show marketing remark (289 chars)

    Come tour this recently updated 3 bedroom, 1-bath property. Equipped with a dining room perfect for gatherings, a first-floor laundry room for added convenience. Off-street parking adds to the ease of everyday living. A wonderful opportunity to own a move-in-ready home with space to grow!

21. 2025-01-08
    soldstatus $20,000

ⓘ 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: $2,136 · $178/mo
• Projected year-2 tax: $2,136 · $178/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 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: $15,703
• − Mortgage interest: −$6,162
• − Property taxes: −$2,136
• − Insurance: −$550
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$3,200
• Taxable income: $1,142
• Est. tax owed @ 24.0%: −$274
• After-tax cash flow: $2,522/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

+450.0% since first listed

4 events — show timeline

• 2026-05-04 Price Changed $110,000 UNYREIS
• 2026-04-17 Price Changed $115,000 UNYREIS
• 2026-01-19 Listed $125,000 UNYREIS
• 2025-01-08 Sold (Public Records) $20,000 Public Records

Property tax history

+25.3%/yr

Latest (2025): $2,136 · +6.1% YoY. Source: county tax records.