78 Steuben St · Addison, NY 14801

$114,900

5 bd · 1.5 ba · 2,564 sqft · SingleFamily · 6 Days on market

Built 1900 Fair condition 0.29 ac lot $45/sqft · 34% below area Est $174k · 34% under

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Why this score? — see what drove the A 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Spacious and full of charm, this 5-bedroom home is nestled in the heart of the Village of Addison on a corner lot. Offering generous living space throughout, the home features large, light-filled rooms, perfect for both everyday living and entertaining. A welcoming layout includes a comfortable living room, a formal dining area, and a large kitchen with ample storage and workspace. Additionally, an enclosed porch allows for extra space to relax and unwind. Upstairs, five generously sized bedrooms provide flexibility for family, guests, or home office needs. Outside, enjoy a sizable yard ideal for relaxing, gardening, or hosting gatherings. Surrounded by tree-lined streets and village charac

Key facts

• Sizable yard
• Tree-lined streets
• Enclosed porch

Tags

• CORNER LOT
• ENCLOSED PORCH
• SIZABLE YARD
• TREE-LINED STREETS
• VILLAGE CHARACTER

Property features AI

Exterior

• Parking: Detached garage with storage; 2 garage spaces
• Utilities: Electricity connected; Public water connected; Sewer connected
• Home design: 2-story house; Resale property
• Construction: Vinyl siding; Asphalt shingle roof; Stone foundation; Existing construction
• Exterior features: Blacktop driveway; Deck; Enclosed porch; Covered porch

Interior

• Kitchen: Electric range; Electric oven; Refrigerator; Gas water heater
• Bedrooms: Laundry room on main level
• Flooring: Hardwood; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; Main level bathroom included
• Heating & cooling: Gas heating; Forced-air heating
• Interior features: Breakfast bar; Ceiling fans
• Laundry & utility: Washer; Dryer; Main-level laundry

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).

Location & tenants

• Location reads 64/100 on livability (#768 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime A-; Watch: schools D+, health & safety D, amenities F.
• Addison Central School District (rural): math 32% / reading 35% proficiency, ranked #563 of 590 in NY (top 95%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($794 loan paydown + $11k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $114,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — 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. 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: 1.65% ✓
• Cap rate: 13.63%
• Cash-on-cash: 26.22%
• DSCR: 2.17
• GRM: 5.1

CMA / ARV

• ARV (median comp): $173,907
• List price: $114,900
• Delta: -33.93%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
54 Main St	0.44mi	5/3.0	2,704 (+6%)	2mo	$120,000	$44	63
7 Farnham St	0.42mi	4/2.0 (-1)	2,412 (-6%)	19mo	$150,000	$62	47

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: 44.1%
• Equity multiple: 4.34×
• Total profit: $107,379
• Equity at exit: $103,511

10-year hold

• IRR: 38.2%
• Equity multiple: 9.74×
• Total profit: $281,061
• Equity at exit: $223,225

Cash invested: $32,172 (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 14801

• Home prices YoY: 3.3%
• Active inventory: 26
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,895 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $703

Break-even live

Break-even rent $1,005

Max offer price $114,900

Occupancy floor 58%

Sensitivity live

Price	-10% $782	-5% $743	+0% $703	+5% $663	+10% $624
Rent	-10% $553	-5% $628	+0% $703	+5% $778	+10% $853
Rate	-1.0pp $761	-0.5pp $732	base $703	+0.5pp $673	+1.0pp $643

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-11
   status Pending 765-char remark
2. 2026-05-04
   listed $114,900 Active 765-char remark

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥93°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: $22,740
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$3,343
• Taxable income: $7,024
• Est. tax owed @ 24.0%: −$1,686
• After-tax cash flow: $6,750/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab

The home requires moderate exterior repairs and maintenance, with painting and landscaping being the highest-ROI updates to increase its value.

Repairs flagged

• Moderate Exterior siding — Weathered appearance
• Moderate Exterior paint — Fading paint

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance	Moderate	$3,000–15,000
Exterior paint · Fading paint	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Addison Central School District
• NCES district ID: 3602370
• Math proficiency: 32% ▼ -12.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $44,519
• Composite: 28.58/100
• National rank: #6720
• State rank: #563 of 590 in NY

Livability — Addison

• Score: 64/100
• State rank: #768
• US rank: #14729

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Addison, NY
• Population (ZIP): 5,415

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 (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Polish 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 91% English-only · German/W. Germanic 8%

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: ▲ 10.75%
• Current HPI: 332.2296
• 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

2 events — show timeline

• 2026-05-11 Pending — UNYREIS
• 2026-05-04 Listed $114,900 UNYREIS