418 Phoenix Ave · Southport, NY 14904

$129,500

2 bd · 1.0 ba · 1,360 sqft · SingleFamily public records · 24 Days on market

Built 1930 4,800 sqft lot Est $117k · 11% over

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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 +25.0/30.0
• DSCR +8.2/10.0
• 1% rule +6.7/10.0
• Livability +3.2/5.0
• ARV discount +2.7/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This delightful 3 bedroom bungalow offers a perfect blend of comfort and convenience. The property features a small fenced-in yard, as well as a spacious 2 car garage. Located close to Dunn Field! This property is perfect for those seeking a cozy and convenient living space, with the added bonus of a well-maintained yard and ample parking space. Don't miss out on this opportunity to make this lovely bungalow your new home!

Key facts

• Natural woodwork
• Durable metal roof
• 4,800 sq ft lot

Tags

• NATURAL WOODWORK
• DURABLE METAL ROOF
• 200 AMP ELECTRICAL SERVICE

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Public water (connected); Sewer connected
• Home design: 2 stories; Existing/resale property
• Construction: Composite siding; Wood siding; Poured foundation
• Exterior features: Blacktop driveway; Rectangular lot; Main thoroughfare frontage; Lot dimensions approximately 40 x 120

Interior

• Kitchen: Free-standing range; Oven; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Vinyl; Varied flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas heating with forced air; Central air conditioning
• Interior features: Attic; Separate/formal dining room; Bedroom on main level; Full basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 6.5% in Southport — 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 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: 101 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; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $895 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,557 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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?
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: 1.17% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.39%
• DSCR: 1.42
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $116,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
752 Robinson St	0.22mi	3/1.0 (+1)	1,344 (-1%)	8mo	$32,000	$24	76
502 Luce St	0.20mi	3/1.5 (+1)	1,344 (-1%)	7mo	$115,000	$86	76
834 Maple Ave	0.12mi	3/2.0 (+1)	1,246 (-8%)	0mo	$135,000	$108	71
717 Spaulding St	0.37mi	3/2.0 (+1)	1,344 (-1%)	8mo	$70,000	$52	65
433 Schuyler Ave	0.06mi	3/1.0 (+1)	1,156 (-15%)	5mo	$140,500	$122	63
404 Schuyler Ave	0.08mi	3/1.5 (+1)	1,518 (+12%)	10mo	$32,000	$21	61
418 Milton St	0.19mi	3/1.0 (+1)	1,178 (-13%)	4mo	$155,000	$132	61
236 E Miller St	0.32mi	3/1.0 (+1)	1,248 (-8%)	7mo	$120,840	$97	60
610 Spaulding St	0.47mi	3/1.0 (+1)	1,248 (-8%)	10mo	$71,000	$57	51
567 Riverside Ave	0.48mi	3/2.0 (+1)	1,210 (-11%)	1mo	$145,000	$120	50
115 Willys St	0.53mi	3/1.0 (+1)	1,206 (-11%)	3mo	$84,900	$70	49
212 Mechanic St	0.58mi	2/1.0	1,172 (-14%)	8mo	$28,000	$24	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-2,877
• Equity at exit: $19,309

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $20,903
• Equity at exit: $11,197

Cash invested: $36,260 (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 14904

• Home prices YoY: -9.6%
• Active inventory: 101
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,513 medium
• Mortgage (P&I): −$679
• Tax from tax record: −$178 /mo · $2,140/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $284

Break-even live

Break-even rent $1,154

Max offer price $129,500

Occupancy floor 76%

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: $32,375
• Closing costs: $3,885
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	43d	1	0.87mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	43d	1	1.18mi
1254 Charles St Elmira, NY	2.0	1.0	1560	$1,350	$0.87	43d	1	1.28mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	43d	1	1.43mi
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	43d	1	1.49mi

Listing history 23 events

1. 2026-06-19
   days on market $129,500 Active 24 DOM
2. 2026-06-18
   days on market $129,500 Active 23 DOM
3. 2026-06-17
   days on market $129,500 Active 22 DOM
4. 2026-06-16
   days on market $129,500 Active 21 DOM
5. 2026-06-15
   days on market $129,500 Active 20 DOM
6. 2026-06-14
   days on market $129,500 Active 18 DOM
7. 2026-06-12
   days on market $129,500 Active 17 DOM
8. 2026-06-09
   days on market $129,500 Active 14 DOM
9. 2026-06-08
   days on market $129,500 Active 13 DOM
10. 2026-06-07
    pricedays on market $129,500 Active 12 DOM
11. 2026-06-05
    days on market $139,900 Active 9 DOM
12. 2026-06-03
    days on market $139,900 Active 8 DOM
13. 2026-06-02
    days on market $139,900 Active 7 DOM
14. 2026-06-01
    days on market $139,900 Active 6 DOM
15. 2026-05-31
    days on market $139,900 Active 5 DOM
16. 2026-05-30
    days on market $139,900 Active 4 DOM
17. 2026-05-26
    listed $139,900 Active
18. 2024-07-30
    soldstatus $92,000
19. 2024-07-10
    soldstatus $92,000 427-char remark

    Show marketing remark (427 chars)

    This delightful 3 bedroom bungalow offers a perfect blend of comfort and convenience. The property features a small fenced-in yard, as well as a spacious 2 car garage. Located close to Dunn Field! This property is perfect for those seeking a cozy and convenient living space, with the added bonus of a well-maintained yard and ample parking space. Don't miss out on this opportunity to make this lovely bungalow your new home!

20. 2024-04-24
    listed $108,500 427-char remark

    Show marketing remark (427 chars)

    This delightful 3 bedroom bungalow offers a perfect blend of comfort and convenience. The property features a small fenced-in yard, as well as a spacious 2 car garage. Located close to Dunn Field! This property is perfect for those seeking a cozy and convenient living space, with the added bonus of a well-maintained yard and ample parking space. Don't miss out on this opportunity to make this lovely bungalow your new home!

21. 2003-09-23
    soldstatus $50,000
22. 2003-09-18
    soldstatus $50,000 120-char remark

    Show marketing remark (120 chars)

    WELL MAINTAINED HOME FEATURING AN ENCLOSED PORCH, FORMAL DINING ROOM AND TWO CAR GARAGE. MUCH MORE T O SEE. ESTATE SALE.

23. 2003-03-24
    listed $54,000 120-char remark

    Show marketing remark (120 chars)

    WELL MAINTAINED HOME FEATURING AN ENCLOSED PORCH, FORMAL DINING ROOM AND TWO CAR GARAGE. MUCH MORE T O SEE. ESTATE SALE.

ⓘ 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: $2,140 · $178/mo
• Projected year-2 tax: $2,164 · $180/mo
• Expected delta: +$24/yr (+$2/mo · 1.1%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $18,155
• − Mortgage interest: −$7,254
• − Property taxes: −$2,140
• − Insurance: −$648
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − Depreciation: −$3,767
• Taxable income: $1,441
• Est. tax owed @ 24.0%: −$346
• After-tax cash flow: $3,060/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

• Census place: Southport, NY
• Population (ZIP): 14,276

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 (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 7% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica, Dominican Republic
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -23.33%
• Current HPI: 220.688
• 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

+159.1% since first listed

7 events — show timeline

• 2026-05-26 Listed $139,900 UNYREIS
• 2024-07-30 Sold (Public Records) $92,000 Public Records
• 2024-07-10 Sold (MLS) $92,000 UNYREIS
• 2024-04-24 Listed $108,500 UNYREIS
• 2003-09-23 Sold (Public Records) $50,000 Public Records
• 2003-09-18 Sold (MLS) $50,000 UNYREIS
• 2003-03-24 Listed $54,000 UNYREIS

Property tax history

-0.5%/yr

Latest (2025): $2,140 · -1.3% YoY. Source: county tax records.