776 Southport St · Elmira, NY 14904

$85,000

4 bd · 2.0 ba · 1,242 sqft · SingleFamily public records · 12 Days on market

Built 1916 6,400 sqft lot Est $107k · 20% under ↓ 4% since listing

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Great property with plenty of potential and ready for your personal touch! This home is perfect for those eager to apply some TLC and creative vision to make it truly shine. Ideal for anyone looking to craft their dream space to create many lasting memories! Don’t miss this chance to transform a gem into your masterpiece! #BR Owner Verified

Key facts

• 6,400 sq ft lot
• 2 garage spots
• Built 1916

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).

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: 101 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Chemung County population projected at -17% 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 $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y 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: built in 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1916 — 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: 1.47% ✓
• Cap rate: 11.65%
• Cash-on-cash: 19.14%
• DSCR: 1.85
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $106,812
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
825 Broadway St	0.19mi	3/1.0 (-1)	1,271 (+2%)	4mo	$65,000	$51	74
570 Cypress St	0.19mi	3/1.0 (-1)	1,307 (+5%)	1mo	$127,200	$97	73
777 Laurel St	0.03mi	3/1.0 (-1)	1,152 (-7%)	6mo	$145,000	$126	72
809 Chamberlain St	0.26mi	4/1.0	1,328 (+7%)	5mo	$138,192	$104	68
1017 Smith St	0.55mi	3/2.0 (-1)	1,250 (+1%)	5mo	$132,979	$106	64
562 Baty St	0.41mi	3/1.0 (-1)	1,296 (+4%)	5mo	$111,702	$86	61
629 Stacia	0.48mi	3/1.0 (-1)	1,176 (-5%)	9mo	$134,900	$115	52
320 Soper St	0.66mi	3/1.0 (-1)	1,270 (+2%)	6mo	$80,000	$63	52
310 Cottage Pl	0.67mi	3/1.0 (-1)	1,178 (-5%)	6mo	$32,000	$27	46
609 Mount Zoar St	0.74mi	3/1.0 (-1)	1,290 (+4%)	9mo	$72,250	$56	43
213 Juanita St	0.73mi	3/1.0 (-1)	1,320 (+6%)	6mo	$21,000	$16	41
314 Soper St	0.68mi	3/1.0 (-1)	1,416 (+14%)	8mo	$41,000	$29	29

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: 11.1%
• Equity multiple: 1.44×
• Total profit: $10,431
• Equity at exit: $12,674

10-year hold

• IRR: 20.1%
• Equity multiple: 2.69×
• Total profit: $40,337
• Equity at exit: $7,349

Cash invested: $23,800 (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 14904

• Home prices YoY: -9.6%
• Active inventory: 101
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$127 /mo · $1,522/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $380

Break-even live

Break-even rent $770

Max offer price $85,000

Occupancy floor 65%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	1.42mi

Listing history 5 events

1. 2026-04-06
   status Pending
2. 2026-03-25
   listed $85,000 Active
3. 2017-03-17
   soldstatus $78,723
4. 2004-09-20
   historical
5. 2004-07-26
   listed $89,000

ⓘ 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: $1,522 · $127/mo
• Projected year-2 tax: $1,522 · $127/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 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥94°F today · 17 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: $15,000
• − Mortgage interest: −$4,761
• − Property taxes: −$1,522
• − Insurance: −$425
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$2,473
• Taxable income: $3,419
• Est. tax owed @ 24.0%: −$821
• After-tax cash flow: $3,734/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): 14,276

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 7% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica, Dominican Republic
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -23.33%
• Current HPI: 220.688
• 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

-4.5% since first listed

5 events — show timeline

• 2026-04-06 Pending — WNYREIS
• 2026-03-25 Listed $85,000 WNYREIS
• 2017-03-17 Sold (Public Records) $78,723 Public Records
• 2004-09-20 Listing Removed — UNYREIS
• 2004-07-26 Listed $89,000 UNYREIS

Property tax history

+12.1%/yr

Latest (2025): $1,522 · -6.5% YoY. Source: county tax records.