17 Wells St · Hornell, NY 14843

$99,900

3 bd · 1.0 ba · 1,172 sqft · SingleFamily public records · 5 Days on market

Built 1890 3,209 sqft lot Est $74k · 35% over

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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 +7.0/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Cute, remodeled 2-3 bedroom home with a fenced back yard. There is a front foyer with a coat rack. LV and DN have new plank floor covering, and there are contemporary paint colors throughout. There is a good-sized kitchen with plenty of counter and cabinet space. Tin ceiling! Stove and refrig included. Off the kitchen is an enclosed storage back porch. AND!! . .. two brand new baths! The main floor bathroom is full and has washer-dryer hookups. .. machines included! The second-floor new bath is half and large enough for a free-standing organizer. Two large bedrooms on this second floor. The main floor has a room off the dining room that could be used for a bedroom or office space. All the

Key facts

• Good sized kitchen
• Tin ceiling
• Off street parking

Tags

• OFF STREET PARKING
• FENCED BACK YARD
• FRONT FOYER
• GOOD SIZED KITCHEN
• TIN CEILING
• ENCLOSED STORAGE BACK PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

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: 61 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% 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 $5k of equity ($691 loan paydown + $4k 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1890 — 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: 1.50% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.64%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $73,836
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
68 Catherine St	0.06mi	2/1.0 (-1)	1,166 (-0%)	3mo	$85,000	$73	89
25 E Main St	0.13mi	3/1.0	1,164 (-1%)	8mo	$114,900	$99	86
134 E Elm St	0.22mi	3/1.0	1,120 (-4%)	4mo	$57,000	$51	79
175 S Leach Ave	0.11mi	3/1.5	1,248 (+6%)	4mo	$22,501	$18	79
169 Leach Ave	0.12mi	2/1.0 (-1)	1,090 (-7%)	1mo	$105,000	$96	77
176 Greeley Ave	0.48mi	3/1.0	1,204 (+3%)	1mo	$115,000	$96	72
5 Blaine St	0.40mi	3/2.0	1,142 (-3%)	1mo	$165,000	$144	72
48 Bemis Ave	0.65mi	3/1.0	1,230 (+5%)	8mo	$55,000	$45	55
12 Elmwood Pl	0.42mi	2/1.0 (-1)	1,296 (+11%)	3mo	$18,500	$14	55
19 Oconnor Ave	0.65mi	3/1.5	1,216 (+4%)	8mo	$65,000	$53	55
22 Cottage Ave	0.43mi	3/1.5	1,340 (+14%)	6mo	$40,000	$30	49
422 Monroe Ave	0.74mi	2/1.0 (-1)	1,008 (-14%)	8mo	$64,000	$63	31

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: 30.6%
• Equity multiple: 2.81×
• Total profit: $50,750
• Equity at exit: $50,346

10-year hold

• IRR: 30.1%
• Equity multiple: 5.56×
• Total profit: $127,519
• Equity at exit: $82,103

Cash invested: $27,972 (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: 61
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,498 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$90 /mo · $1,078/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $528

Break-even live

Break-even rent $830

Max offer price $99,900

Occupancy floor 60%

Sensitivity live

Price	-10% $584	-5% $556	+0% $528	+5% $499	+10% $471
Rent	-10% $409	-5% $469	+0% $528	+5% $587	+10% $646
Rate	-1.0pp $578	-0.5pp $553	base $528	+0.5pp $502	+1.0pp $476

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-03-29
   status Pending
2. 2026-03-24
   listed $99,900 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: $1,078 · $90/mo
• Projected year-2 tax: $1,383 · $115/mo
• Expected delta: +$305/yr (+$25/mo · 28.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 17 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: $17,971
• − Mortgage interest: −$5,596
• − Property taxes: −$1,078
• − Insurance: −$500
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$2,906
• Taxable income: $5,016
• Est. tax owed @ 24.0%: −$1,204
• After-tax cash flow: $5,129/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

2 events — show timeline

• 2026-03-29 Pending — UNYREIS
• 2026-03-24 Listed $99,900 UNYREIS

Property tax history

+1.7%/yr

Latest (2025): $1,078 · -0.4% YoY. Source: county tax records.