410 W 3rd St · Elmira, NY 14901

$50,000

3 bd · 1.0 ba · 1,249 sqft · SingleFamily public records · 21 Days on market

Built 1867

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Large and spacious 3 bedroom house in close proximity to Elmira College and LECOM. This would make an excellent home or investment property! Fenced in backyard with a storage shed. Currently occupied with tenants paying $800 a month ($9600 a year) providing a great base for an ROI. Schedule a showing today!

Key facts

• Fenced in yard
• Built 1867
• Listed 21 days

Tags

• FENCED IN YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $624 ($7k/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: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 10.1% in Elmira — 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 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: 79 active listings in the ZIP; 9 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 $5k of equity ($346 loan paydown + $5k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y 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.
• Current owner paid $40k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1867 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1867 — 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: 2.45% ✓
• Cap rate: 21.27%
• Cash-on-cash: 53.48%
• DSCR: 3.38
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $113,659
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
660 Walnut St	0.22mi	4/1.5 (+1)	1,400 (+12%)	1mo	$150,000	$107	62
347 Irvine Pl	0.52mi	3/1.0	1,167 (-7%)	5mo	$30,000	$26	61
336 W Washington Ave	0.49mi	3/2.0	1,344 (+8%)	5mo	$119,900	$89	56
823 Canal St	0.70mi	2/— (-1)	1,242 (-1%)	8mo	$12,000	$10	55
1002 Johnson St	0.74mi	3/1.0	1,276 (+2%)	8mo	$82,500	$65	55
403 Roe Ave	0.70mi	3/1.5	1,272 (+2%)	11mo	$148,000	$116	53
461 W Hudson St	0.67mi	3/1.5	1,331 (+7%)	6mo	$93,906	$71	51
340 Webber Pl	0.62mi	3/1.0	1,131 (-9%)	9mo	$115,000	$102	48
921 Grove St	0.62mi	3/1.0	1,414 (+13%)	5mo	$134,000	$95	45
965 Wisner St	0.75mi	3/1.0	1,358 (+9%)	9mo	$20,000	$15	43
561 W Washington Ave	0.51mi	2/1.5 (-1)	1,421 (+14%)	10mo	$130,000	$91	38
910 Bridgman St	0.60mi	4/2.0 (+1)	1,436 (+15%)	10mo	$168,000	$117	30

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: 66.6%
• Equity multiple: 5.78×
• Total profit: $66,987
• Equity at exit: $45,044

10-year hold

• IRR: 60.2%
• Equity multiple: 12.86×
• Total profit: $166,053
• Equity at exit: $97,139

Cash invested: $14,000 (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: 79
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,227 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $624

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 44%

Sensitivity live

Price	-10% $658	-5% $641	+0% $624	+5% $607	+10% $589
Rent	-10% $527	-5% $575	+0% $624	+5% $672	+10% $721
Rate	-1.0pp $649	-0.5pp $637	base $624	+0.5pp $611	+1.0pp $598

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	44d	1	0.11mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	0.24mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	0.41mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	0.47mi
970 Scio St Elmira, NY	2.0	1.0	911	$1,200	$1.32	44d	1	0.75mi
410 E 2nd St Unit FS3W Elmira, NY	3.0	1.0	800	$1,250	$1.56	44d	1	0.76mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	1.05mi
1210 W Water St Elmira, NY	2.0	2.0	1340	$1,995	$1.49	44d	1	1.43mi
550 Spruce St Unit 303 Elmira, NY	2.0	2.0	1350	$1,350	$1.00	44d	1	1.43mi

Listing history 37 events

1. 2026-06-19
   days on market $50,000 Active 21 DOM
2. 2026-06-18
   days on market $50,000 Active 20 DOM
3. 2026-06-17
   days on market $50,000 Active 19 DOM
4. 2026-06-16
   days on market $50,000 Active 18 DOM
5. 2026-06-15
   days on market $50,000 Active 17 DOM
6. 2026-06-14
   days on market $50,000 Active 15 DOM
7. 2026-06-12
   days on market $50,000 Active 14 DOM
8. 2026-06-09
   days on market $50,000 Active 11 DOM
9. 2026-06-08
   days on market $50,000 Active 10 DOM
10. 2026-06-07
    days on market $50,000 Active 9 DOM
11. 2026-06-05
    days on market $50,000 Active 6 DOM
12. 2026-06-03
    days on market $50,000 Active 5 DOM
13. 2026-06-02
    days on market $50,000 Active 4 DOM
14. 2026-06-01
    days on market $50,000 Active 3 DOM
15. 2026-05-31
    days on market $50,000 Active 2 DOM
16. 2026-05-29
    listed $50,000 Active
17. 2026-03-13
    historical
18. 2025-10-22
    listed $59,999 Active
19. 2024-03-28
    soldstatus $40,000 308-char remark

    Show marketing remark (308 chars)

    Large and spacious 3 bedroom house in close proximity to Elmira College and LECOM. This would make an excellent home or investment property! Fenced in backyard with a storage shed. Currently occupied with tenants paying $800 a month ($9600 a year) providing a great base for an ROI. Schedule a showing today!

20. 2024-03-14
    soldstatus $40,000
21. 2023-10-13
    listed $40,000 308-char remark

    Show marketing remark (308 chars)

    Large and spacious 3 bedroom house in close proximity to Elmira College and LECOM. This would make an excellent home or investment property! Fenced in backyard with a storage shed. Currently occupied with tenants paying $800 a month ($9600 a year) providing a great base for an ROI. Schedule a showing today!

22. 2021-09-03
    soldstatus $20,000
23. 2021-09-01
    soldstatus $20,000
24. 2021-07-14
    listed $25,000
25. 2019-09-09
    soldstatus $14,500
26. 2019-09-04
    soldstatus $14,500
27. 2017-11-20
    listed $14,500
28. 2012-05-16
    soldstatus $16,250
29. 2011-10-08
    historical
30. 2011-04-08
    listed $57,640
31. 2011-02-24
    historical
32. 2010-08-24
    listed $52,400
33. 2005-11-23
    soldstatus $29,000
34. 2005-11-21
    soldstatus $29,000
35. 2004-12-31
    listed $32,900
36. 2004-06-30
    historical
37. 2002-11-10
    listed $36,900

ⓘ 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 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 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: $14,726
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$1,455
• Taxable income: $7,114
• Est. tax owed @ 24.0%: −$1,707
• After-tax cash flow: $5,779/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

+35.5% since first listed

22 events — show timeline

• 2026-05-29 Listed $50,000 FSBO.com
• 2026-03-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-10-22 Listed $59,999 OneKey® MLS as Distributed by MLS Grid
• 2024-03-28 Sold (MLS) $40,000 UNYREIS
• 2024-03-14 Sold (Public Records) $40,000 Public Records
• 2023-10-13 Listed $40,000 UNYREIS
• 2021-09-03 Sold (Public Records) $20,000 Public Records
• 2021-09-01 Sold (MLS) $20,000 UNYREIS
• 2021-07-14 Listed $25,000 UNYREIS
• 2019-09-09 Sold (Public Records) $14,500 Public Records
• 2019-09-04 Sold (MLS) $14,500 UNYREIS
• 2017-11-20 Listed $14,500 UNYREIS
• 2012-05-16 Sold (Public Records) $16,250 Public Records
• 2011-10-08 Listing Removed — UNYREIS
• 2011-04-08 Listed $57,640 UNYREIS
• 2011-02-24 Listing Removed — UNYREIS
• 2010-08-24 Listed $52,400 UNYREIS
• 2005-11-23 Sold (Public Records) $29,000 Public Records
• 2005-11-21 Sold (MLS) $29,000 UNYREIS
• 2004-12-31 Listed $32,900 UNYREIS
• 2004-06-30 Listing Removed — UNYREIS
• 2002-11-10 Listed $36,900 UNYREIS

Property tax history

+10.4%/yr

Latest (2025): $3,928 · +33.7% YoY. Source: county tax records.