163 Leach Ave · Hornell, NY 14843

$174,900

3 bd · 1.5 ba · 2,274 sqft · SingleFamily public records · 23 Days on market

Built 1900 3,999 sqft lot Est $173k · at est.

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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 +20.1/30.0
• ARV discount +7.0/15.0
• Appreciation +7.0/10.0
• DSCR +6.4/10.0
• 1% rule +4.9/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Four bedrooms with a BIG Primary Suite on the main floor!! Large closet, full en suite bath, and a glass-panel door to the back deck. There is a second full bath and 3 bedrooms on the second floor. The mechanics are in great shape. .. . 4-year-old furnace, 4-year-old Central AC, 40-gallon water tank, 6 or 7 years, and roof 12-13 years. The kitchen has lots of cabinetry and Corian countertops. There is a breakfast bar with a large window pass-through to the dining area. This over 2200 sq ft home has a formal living room and a family room. Staying with the property are two sets of W/ D!!! One set on the main floor and one on the second floor. There are doors from the family room to the cut

Key facts

• Glass-panel door
• Full en suite bath
• Primary suite

Tags

• PRIMARY SUITE
• FULL EN SUITE BATH
• GLASS-PANEL DOOR
• BREAKFAST BAR
• LARGE WINDOW PASS-THROUGH
• COVERED PATIO

Property features AI

Exterior

• Parking: No garage; Driveway parking
• Utilities: Public water; Sewer connected; Cable available; High-speed internet available
• Home design: Two-story house; Existing construction; Rectangular residential lot; City street frontage
• Construction: Vinyl siding; Blown-in insulation; Stone foundation
• Exterior features: Concrete driveway; Deck; Patio; Fully fenced yard; Shed(s) / storage

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Free-standing range; Disposal; Microwave; Oven; Refrigerator; Pantry; Breakfast bar; Eat-in kitchen
• Bedrooms: One main-level bedroom
• Flooring: Laminate; Vinyl; Varied flooring types
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Forced-air gas heating; Central air conditioning; Has heating and cooling
• Interior features: Breakfast bar; Eat-in kitchen; Separate formal living room; Pantry; Primary bedroom with private bath; Primary bedroom on main level; Full basement
• Laundry & utility: Washer; Dryer; Laundry on main level; Laundry on upper level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (0.5% below list).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 13.3% in Hornell — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 70/100 on livability (#451 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, schools D, crime F.
• Hornell City School District (town): math 33% / reading 49% proficiency, ranked #519 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 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; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.0% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,276 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 D-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: 0.99% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.31%
• DSCR: 1.24
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $172,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 East Ave	0.14mi	3/2.5	2,472 (+9%)	8mo	$190,000	$77	68
113 River St	0.21mi	2/2.0 (-1)	2,447 (+8%)	9mo	$140,000	$57	63
45 Jane St	0.38mi	4/2.5 (+1)	2,212 (-3%)	7mo	$185,000	$84	63
27 Glen Ave	0.20mi	3/1.5	2,052 (-10%)	16mo	$172,500	$84	61
151 Canisteo Ave	0.18mi	3/2.0	1,972 (-13%)	10mo	$130,000	$66	59
11 Conklin St	0.42mi	3/2.5	2,134 (-6%)	20mo	$206,000	$97	50
33 E Vanscoter St	0.53mi	3/2.0	2,002 (-12%)	10mo	$73,000	$36	45
114 Genesee St	0.49mi	4/1.0 (+1)	2,054 (-10%)	18mo	$65,000	$32	39
41 Davenport St	0.41mi	4/2.5 (+1)	2,516 (+11%)	18mo	$135,000	$54	39
56 Sawyer St	0.66mi	3/2.0	1,960 (-14%)	11mo	$149,900	$76	35
384 Canisteo St	0.58mi	4/2.0 (+1)	1,962 (-14%)	13mo	$172,000	$88	32
48 Crosby St	0.75mi	4/2.0 (+1)	2,135 (-6%)	19mo	$148,000	$69	32

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

Projected returns pro-forma

3.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 1.89×
• Total profit: $43,807
• Equity at exit: $88,144

10-year hold

• IRR: 16.0%
• Equity multiple: 3.57×
• Total profit: $126,011
• Equity at exit: $143,742

Cash invested: $48,972 (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 14843

• Home prices YoY: 1.9%
• Active inventory: 59
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,740 high
• Mortgage (P&I): −$917
• Tax from tax record: −$168 /mo · $2,013/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $217

Break-even live

Break-even rent $1,466

Max offer price $174,900

Occupancy floor 83%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
58 Elm St Hornell, NY	4.0	2.0	1600	$2,495	$1.56	43d	1	0.41mi
15 Hakes Ave Unit 102 Hornell, NY	4.0	2.0	2000	$2,195	$1.10	43d	1	0.60mi
54 Bemis Ave Hornell, NY	2.0	1.0	1801	$1,300	$0.72	43d	1	0.69mi
14 Willow Pl Hornell, NY	4.0	2.0	1726	$2,000	$1.16	43d	1	0.89mi
21 Armory Pl Hornell, NY	2.0	1.0	2074	$1,200	$0.58	43d	1	1.03mi

Listing history 18 events

1. 2026-06-19
   days on market $174,900 Active 23 DOM
2. 2026-06-18
   days on market $174,900 Active 22 DOM
3. 2026-06-17
   days on market $174,900 Active 21 DOM
4. 2026-06-16
   days on market $174,900 Active 20 DOM
5. 2026-06-15
   days on market $174,900 Active 19 DOM
6. 2026-06-14
   days on market $174,900 Active 17 DOM
7. 2026-06-12
   days on market $174,900 Active 16 DOM
8. 2026-06-09
   days on market $174,900 Active 13 DOM
9. 2026-06-09
   price $174,900 Active 12 DOM
10. 2026-06-08
    days on market $192,000 Active 12 DOM
11. 2026-06-07
    days on market $192,000 Active 11 DOM
12. 2026-06-07
    days on market $192,000 Active 10 DOM
13. 2026-06-03
    days on market $192,000 Active 7 DOM
14. 2026-06-02
    days on market $192,000 Active 6 DOM
15. 2026-06-01
    days on market $192,000 Active 5 DOM
16. 2026-05-31
    days on market $192,000 Active 4 DOM
17. 2026-05-30
    days on market $192,000 Active 3 DOM
18. 2026-05-27
    listed $192,000 Active

ⓘ 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: $2,013 · $168/mo
• Projected year-2 tax: $2,484 · $207/mo
• Expected delta: +$471/yr (+$39/mo · 23.4%)

ⓘ 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 8 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,881
• − Mortgage interest: −$9,797
• − Property taxes: −$2,013
• − Insurance: −$874
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − Depreciation: −$5,088
• Taxable loss: −$232
• Est. tax savings @ 24.0%: +$56
• After-tax cash flow: $2,658/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: Hornell City School District
• NCES district ID: 3614820
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $40,251
• Composite: 34.33/100
• National rank: #5234
• State rank: #519 of 590 in NY

Livability — Hornell

• Score: 70/100
• State rank: #451
• US rank: #7888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hornell, NY
• County: Steuben County · 41,193 people
• City population: 12,383
• Metro: Corning, NY
• Population (ZIP): 12,383
• Household income: $57,874
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 415.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Arabic 1% Spanish 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: ▲ 3.95%
• Current HPI: 210.1986
• 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

1 event — show timeline

• 2026-05-27 Listed $192,000 UNYREIS

Property tax history

+0.9%/yr

Latest (2025): $2,013 · -0.4% YoY. Source: county tax records.