24 Stanton St · Riverside, NY 14870

$49,900

2 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 84 Days on market

Built 1945 7,841 sqft lot $48/sqft · 70% below area

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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
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +2.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single floor living in a quiet neighborhood in a desired area. This 2 BR, 1 Bath house may need some TLC but its intact and would make a great starter house or for the couple looking to downsize. The utilities are presently turned off. The house is in need of a Hot Water Tank. This home is situated near to local businesses, restaurants and shopping centers. Don't miss this opportunity in the Riverside area.

Key facts

• Riverside area
• Single floor living
• Quiet neighborhood

Tags

• SINGLE FLOOR LIVING
• QUIET NEIGHBORHOOD
• RIVERSIDE AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#1,145 in NY) — a working-class tenant base; expect higher turnover. Strengths: crime A, health & safety B+; Watch: schools F, 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: Rents soft (-1.4%/yr); 44 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $345 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 + 0.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $50k implies a 399% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1945 — 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 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: 2.84% ✓
• Cap rate: 24.95%
• Cash-on-cash: 66.63%
• DSCR: 3.96
• GRM: 2.9

CMA / ARV

• ARV (median comp): $167,767
• List price: $49,900
• Delta: -70.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
82 Riverside Cir	0.13mi	2/1.0	1,124 (+7%)	3mo	$140,000	$125	79
10283 Rand St	0.17mi	1/1.0 (-1)	1,008 (-4%)	13mo	$32,000	$32	70
367 Olive St	0.29mi	3/1.5 (+1)	1,111 (+6%)	6mo	$58,000	$52	65
385 Imperial Ave	0.22mi	3/1.0 (+1)	1,170 (+11%)	1mo	$150,000	$128	65
19 Fenderson St	0.11mi	3/1.0 (+1)	1,144 (+9%)	24mo	$128,647	$112	55
10265 Hamilton Rd	0.38mi	3/2.0 (+1)	1,100 (+5%)	13mo	$179,000	$163	54
47 Riverside Cir	0.14mi	2/1.0	1,176 (+12%)	24mo	$144,750	$123	54
232 Reynolds Ave	0.66mi	3/1.5 (+1)	1,069 (+2%)	11mo	$140,000	$131	50
145 Charles St	0.65mi	3/1.0 (+1)	1,104 (+5%)	9mo	$137,500	$125	49
58 Hamilton Rd	0.54mi	2/1.0	912 (-13%)	17mo	$91,000	$100	39
163 Fuller Ave	0.56mi	3/1.0 (+1)	1,170 (+11%)	19mo	$189,900	$162	34

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 57.2%
• Equity multiple: 3.41×
• Total profit: $33,689
• Equity at exit: $7,440

10-year hold

• IRR: 60.9%
• Equity multiple: 6.19×
• Total profit: $72,568
• Equity at exit: $4,314

Cash invested: $13,972 (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 14870

• Home prices YoY: -28.8%
• Rents YoY: -1.4%
• Active inventory: 44
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,419 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $720

Break-even live

Break-even rent $507

Max offer price $49,900

Occupancy floor 44%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 W High St Unit 201 Painted Post, NY	2.0	1.0	1000	$1,150	$1.15	43d	1	0.41mi
402 W High St Painted Post, NY	3.0	1.0	1000	$1,375	$1.38	43d	1	0.62mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	43d	1	0.70mi
459 Brainard Pl Painted Post, NY	3.0	1.0	1090	$1,500	$1.38	43d	1	0.77mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,295	$1.15	43d	3	1.09mi

Listing history 19 events

1. 2026-06-19
   days on market $49,900 Active 84 DOM
2. 2026-06-18
   days on market $49,900 Active 83 DOM
3. 2026-06-17
   days on market $49,900 Active 82 DOM
4. 2026-06-16
   days on market $49,900 Active 81 DOM
5. 2026-06-15
   days on market $49,900 Active 80 DOM
6. 2026-06-14
   days on market $49,900 Active 78 DOM
7. 2026-06-12
   days on market $49,900 Active 77 DOM
8. 2026-06-09
   days on market $49,900 Active 74 DOM
9. 2026-06-08
   days on market $49,900 Active 73 DOM
10. 2026-06-07
    days on market $49,900 Active 72 DOM
11. 2026-06-05
    days on market $49,900 Active 69 DOM
12. 2026-06-03
    pricedays on market $49,900 Active 68 DOM
13. 2026-06-02
    days on market $54,900 Active 67 DOM
14. 2026-06-01
    days on market $54,900 Active 66 DOM
15. 2026-05-31
    days on market $54,900 Active 65 DOM
16. 2026-05-30
    days on market $54,900 Active 64 DOM
17. 2026-05-11
    price $54,900 411-char remark

    Show marketing remark (411 chars)

    Single floor living in a quiet neighborhood in a desired area. This 2 BR, 1 Bath house may need some TLC but its intact and would make a great starter house or for the couple looking to downsize. The utilities are presently turned off. The house is in need of a Hot Water Tank. This home is situated near to local businesses, restaurants and shopping centers. Don't miss this opportunity in the Riverside area.

18. 2026-03-27
    listed $59,900 Active 411-char remark

    Show marketing remark (411 chars)

    Single floor living in a quiet neighborhood in a desired area. This 2 BR, 1 Bath house may need some TLC but its intact and would make a great starter house or for the couple looking to downsize. The utilities are presently turned off. The house is in need of a Hot Water Tank. This home is situated near to local businesses, restaurants and shopping centers. Don't miss this opportunity in the Riverside area.

19. 2003-01-28
    soldstatus $10,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $17,023
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$916
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$1,452
• Taxable income: $8,388
• Est. tax owed @ 24.0%: −$2,013
• After-tax cash flow: $6,630/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 — Riverside

• Score: 54/100
• State rank: #1145
• US rank: #23895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverside, NY
• County: Steuben County · 41,193 people
• Metro: Corning, NY
• Population (ZIP): 9,795
• Household income: $84,476
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 289.0

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 (84%)
• Race & ethnicity: White 84% Asian 8% Two or more races 5% Black 2% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Italian 3% Slovak 2%
• Foreign-born: 8% · China, South Korea, Canada
• Languages at home: 90% English-only · Chinese 4% Other Indo-European 2% Korean 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: ▼ -70.45%
• Current HPI: 174.2287
• Rent YoY: ▼ -1.35%
• 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

+449.0% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $54,900 UNYREIS
• 2026-03-27 Listed $59,900 UNYREIS
• 2003-01-28 Sold (Public Records) $10,000 Public Records

Property tax history

+11.9%/yr

Latest (2025): $4,033 · +2.0% YoY. Source: county tax records.