499 Jerusalem Hill Rd · Southport, NY 14901

$169,900

3 bd · 1.0 ba · 1,109 sqft · SingleFamily public records · 45 Days on market

Built 1875 1.67 ac lot $153/sqft · 6% below area Est $181k · 6% under

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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 +13.9/30.0
• ARV discount +10.2/15.0
• Appreciation +10.0/10.0
• DSCR +4.2/10.0
• 1% rule +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

A classic home without the classic repairs. This 1875 home is very well maintained without sacrificing any of the classic charm. Multiple improvements & updates; laundry room moved to 1st floor, fully blown-in insulation, updated windows, etc. Amazing views & only a stones throw from Elmira amenities. Open house Sat 29th 1-3.

Key facts

• 1.67 acre lot
• 2 garage spots
• Built 1875

Property features AI

Exterior

• Parking: Detached heated garage with electricity, storage and workshop area; 2 garage spaces
• Utilities: Electricity available and connected (circuit breakers); Well water; Septic tank; High-speed internet available
• Home design: Single-story home; Resale property; Asphalt shingle roof
• Construction: Vinyl siding; Blown-in insulation; Stone foundation
• Exterior features: Deck; Covered porch; Gravel driveway; Shed(s) / exterior storage; Propane tank (leased); Rectangular lot; Main thoroughfare frontage

Interior

• Kitchen: Electric oven and electric range; Dishwasher; Refrigerator; Solid surface counters
• Bedrooms: One main-level bedroom
• Flooring: Hardwood; Luxury vinyl; Vinyl; Varies
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Oil forced-air heating
• Interior features: Separate/formal living room; Solid surface counters; Bedroom on main level; Has fireplace (1)
• Laundry & utility: Main-level laundry; Washer and dryer; Water softener (owned); Propane water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $18 ($217/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 $153k (10.0% below list).
• Recommended offer: $153k (10.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#690 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, employment D, health & safety D.
• 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: 78 active listings in the ZIP; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k 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 $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $132k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $152,966 (10.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.46%
• DSCR: 1.02
• GRM: 9.3

CMA / ARV

• ARV (median comp): $180,956
• List price: $169,900
• Delta: -6.11%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.97×
• Total profit: $93,715
• Equity at exit: $153,059

10-year hold

• IRR: 21.8%
• Equity multiple: 6.78×
• Total profit: $275,138
• Equity at exit: $330,078

Cash invested: $47,572 (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: 78
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,530 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$229 /mo · $2,743/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $18

Break-even live

Break-even rent $1,507

Max offer price $169,900

Occupancy floor 94%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $169,900 Active 45 DOM
2. 2026-06-18
   days on market $169,900 Active 44 DOM
3. 2026-06-17
   days on market $169,900 Active 43 DOM
4. 2026-06-17
   price $169,900 Active 42 DOM
5. 2026-06-16
   days on market $179,900 Active 42 DOM
6. 2026-06-15
   days on market $179,900 Active 41 DOM
7. 2026-06-14
   days on market $179,900 Active 39 DOM
8. 2026-06-12
   days on market $179,900 Active 38 DOM
9. 2026-06-09
   days on market $179,900 Active 35 DOM
10. 2026-06-08
    days on market $179,900 Active 34 DOM
11. 2026-06-07
    days on market $179,900 Active 33 DOM
12. 2026-06-05
    days on market $179,900 Active 30 DOM
13. 2026-06-03
    days on market $179,900 Active 29 DOM
14. 2026-06-02
    days on market $179,900 Active 28 DOM
15. 2026-06-01
    days on market $179,900 Active 27 DOM
16. 2026-05-31
    days on market $179,900 Active 26 DOM
17. 2026-05-30
    days on market $179,900 Active 25 DOM
18. 2026-05-04
    listed $179,900 Active
19. 2024-09-05
    soldstatus $132,000
20. 2024-09-03
    soldstatus $132,000 339-char remark

    Show marketing remark (339 chars)

    A classic home without the classic repairs. This 1875 home is very well maintained without sacrificing any of the classic charm. Multiple improvements & updates; laundry room moved to 1st floor, fully blown-in insulation, updated windows, etc. Amazing views & only a stones throw from Elmira amenities. Open house Sat 29th 1-3.

21. 2024-06-24
    listed $136,900 339-char remark

    Show marketing remark (339 chars)

    A classic home without the classic repairs. This 1875 home is very well maintained without sacrificing any of the classic charm. Multiple improvements & updates; laundry room moved to 1st floor, fully blown-in insulation, updated windows, etc. Amazing views & only a stones throw from Elmira amenities. Open house Sat 29th 1-3.

22. 2022-01-06
    soldstatus $125,000
23. 2021-11-17
    soldstatus $125,000

    Show marketing remark (470 chars)

    1875 Charming Salt Box w/ Lot's of Character! Gorgeous Hardwood Floors, Bathroom Features New Flooring and Toilet Enjoy Soaking in the Clawfoot Tub, New Siding, Windows, New Exterior Doors, HWH (2021), New Deck w/ Hot Tub, New 2 Car Oversized Garage 32 x 24! Beautiful Stone Stacked Foundation, Small Lot across the street for Parking vehicles, Several Sheds for More Storage, Septic (2005) , Roof (2005) New Pressure Tank, Don't Miss Out on This Beautiful Country Home.

24. 2021-08-30
    listed $125,000

    Show marketing remark (470 chars)

    1875 Charming Salt Box w/ Lot's of Character! Gorgeous Hardwood Floors, Bathroom Features New Flooring and Toilet Enjoy Soaking in the Clawfoot Tub, New Siding, Windows, New Exterior Doors, HWH (2021), New Deck w/ Hot Tub, New 2 Car Oversized Garage 32 x 24! Beautiful Stone Stacked Foundation, Small Lot across the street for Parking vehicles, Several Sheds for More Storage, Septic (2005) , Roof (2005) New Pressure Tank, Don't Miss Out on This Beautiful Country Home.

ⓘ 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: $2,743 · $229/mo
• Projected year-2 tax: $2,807 · $234/mo
• Expected delta: +$64/yr (+$5/mo · 2.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $18,356
• − Mortgage interest: −$9,517
• − Property taxes: −$2,743
• − Insurance: −$850
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − Depreciation: −$4,943
• Taxable loss: −$2,633
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $849/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 — Southport

• Score: 65/100
• State rank: #690
• US rank: #13026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• 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

+35.9% since first listed

8 events — show timeline

• 2026-06-16 Price Changed $169,900 UNYREIS
• 2026-05-04 Listed $179,900 UNYREIS
• 2024-09-05 Sold (Public Records) $132,000 Public Records
• 2024-09-03 Sold (MLS) $132,000 UNYREIS
• 2024-06-24 Listed $136,900 UNYREIS
• 2022-01-06 Sold (Public Records) $125,000 Public Records
• 2021-11-17 Sold (MLS) $125,000 GBAOR
• 2021-08-30 Listed $125,000 GBAOR

Property tax history

+3.5%/yr

Latest (2025): $2,743 · +1.5% YoY. Source: county tax records.