227 Kingsbury Ave · Corning, NY 14830

$165,000

2 bd · 1.0 ba · 1,250 sqft · SingleFamily public records · 3 Days on market

Built 1955 0.27 ac lot $132/sqft · at area comps Est $170k · at est.

---

Why this score? — see what drove the D 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 +11.7/30.0
• ARV discount +8.8/15.0
• Livability +4.4/5.0
• 1% rule +4.3/10.0
• Schools +4.2/10.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Awesome new updates in this 2- to 3-bedroom ranch. Brand-new living & dining room; all-new kitchen, new electric service, new siding, new lighting, new 30x12 deck, new carpeting; wonderful open floor plan & awesome privacy on this double lot.

Key facts

• Open floorplan
• Private setting
• Hardwood floors

Tags

• HARDWOOD FLOORS
• OPEN FLOORPLAN
• QUIET NEIGHBORHOOD STREET
• PRIVATE SETTING

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water (connected); Sewer connected
• Home design: Single-story home; Existing construction
• Construction: Frame construction with vinyl siding; Asphalt shingle roof; Block foundation; Resale condition
• Exterior features: Blacktop driveway; City street frontage; Rectangular residential lot (approx. 0.2674 acres, 100x116)

Interior

• Kitchen: Gas oven; Gas range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Ceramic tile; Hardwood; Laminate; Varies
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Gas forced-air heating
• Interior features: Dining area; Bedroom on main level; Main level primary; Full basement
• Laundry & utility: Washer and dryer located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-48 ($-576/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (7.4% below list).
• Recommended offer: $153k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 8.0% in Corning — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 87/100 on livability (#14 in NY, #334 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: employment D.
• Corning City School District (town): math 44% / reading 53% proficiency, ranked #406 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 106 active listings in the ZIP; 7 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; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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 $98k; list at $165k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $152,794 (7.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1955 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.93% ✗
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 9.0

CMA / ARV

• ARV (median comp): $169,747
• List price: $165,000
• Delta: -2.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
182 N Franklin Street Ext	0.21mi	2/2.0	1,242 (-1%)	0mo	$170,000	$137	85
206 Pritchard Ave	0.05mi	3/1.5 (+1)	1,260 (+1%)	8mo	$109,000	$87	83
210 Buffalo St	0.16mi	3/1.0 (+1)	1,316 (+5%)	6mo	$176,540	$134	74
301 Cayuta St	0.38mi	2/2.0	1,245 (-0%)	9mo	$174,900	$140	70
180 Sly Ave	0.36mi	2/1.0	1,205 (-4%)	9mo	$80,000	$66	70
330 Dodge Ave. Ext	0.28mi	2/1.0	1,114 (-11%)	1mo	$139,900	$126	68
272 Decatur St	0.45mi	3/1.0 (+1)	1,309 (+5%)	3mo	$100,000	$76	64
172 Reynolds Ave	0.16mi	3/1.5 (+1)	1,378 (+10%)	6mo	$215,000	$156	64
202 Pritchard Ave	0.07mi	3/1.0 (+1)	1,410 (+13%)	8mo	$160,000	$113	64
6 E Hazel St	0.43mi	3/1.0 (+1)	1,160 (-7%)	5mo	$25,000	$22	59
22 Thorn St	0.35mi	3/1.5 (+1)	1,366 (+9%)	7mo	$128,865	$94	55
82 Riverside Cir	0.62mi	2/1.0	1,124 (-10%)	3mo	$140,000	$125	51

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: -18.3%
• Equity multiple: 0.36×
• Total profit: $-29,698
• Equity at exit: $24,602

10-year hold

• IRR: -10.5%
• Equity multiple: 0.36×
• Total profit: $-29,414
• Equity at exit: $14,266

Cash invested: $46,200 (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 14830

• Active inventory: 106
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,528 high
• Mortgage (P&I): −$865
• Tax from tax record: −$321 /mo · $3,852/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $-48

Break-even live

Break-even rent $1,589

Max offer price $156,527

Occupancy floor 98%

Sensitivity live

Price	-10% $45	-5% $-1	+0% $-48	+5% $-95	+10% $-141
Rent	-10% $-169	-5% $-108	+0% $-48	+5% $12	+10% $73
Rate	-1.0pp $35	-0.5pp $-6	base $-48	+0.5pp $-91	+1.0pp $-134

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	44d	1	0.10mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	44d	1	0.25mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,295	$1.15	44d	3	0.84mi
125 W Market St Corning, NY	1.0	1.0	1026	$1,600	$1.56	44d	1	0.97mi
122 W High St Unit 201 Painted Post, NY	2.0	1.0	1000	$1,150	$1.15	44d	1	1.19mi
90 E Market St Unit 2 Corning, NY	2.0	1.0	1044	$2,200	$2.11	44d	1	1.33mi
402 W High St Painted Post, NY	3.0	1.0	1000	$1,375	$1.38	44d	1	1.38mi

Listing history 8 events

1. 2026-05-16
   status Pending 1154-char remark
2. 2026-05-13
   listed $165,000 Active 1154-char remark
3. 2015-03-02
   soldstatus $97,500
4. 2015-02-26
   soldstatus $97,500 254-char remark

   Show marketing remark (254 chars)

   Awesome new updates in this 2- to 3-bedroom ranch. Brand-new living & dining room; all-new kitchen, new electric service, new siding, new lighting, new 30x12 deck, new carpeting; wonderful open floor plan & awesome privacy on this double lot.

5. 2014-10-01
   listed $107,500 254-char remark

   Show marketing remark (254 chars)

   Awesome new updates in this 2- to 3-bedroom ranch. Brand-new living & dining room; all-new kitchen, new electric service, new siding, new lighting, new 30x12 deck, new carpeting; wonderful open floor plan & awesome privacy on this double lot.

6. 2010-02-03
   soldstatus $73,500
7. 2010-01-15
   soldstatus $73,500

   Show marketing remark (158 chars)

   3 bedroom ranch with double city lot. Great starter home with plenty of room for expansion or perfect for a retiring couple. New furnace and hot water heater.

8. 2009-08-05
   listed $69,500

   Show marketing remark (158 chars)

   3 bedroom ranch with double city lot. Great starter home with plenty of room for expansion or perfect for a retiring couple. New furnace and hot water heater.

ⓘ 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: $3,852 · $321/mo
• Projected year-2 tax: $3,852 · $321/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥95°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $18,335
• − Mortgage interest: −$9,243
• − Property taxes: −$3,852
• − Insurance: −$825
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$4,800
• Taxable loss: −$3,318
• Est. tax savings @ 24.0%: +$796
• After-tax cash flow: $221/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: Corning City School District
• NCES district ID: 3608400
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 53% ▲ 4.00%
• Median HH income: $53,042
• Composite: 41.8/100
• National rank: #3392
• State rank: #406 of 590 in NY

Livability — Corning

• Score: 87/100
• State rank: #14
• US rank: #334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corning, NY
• County: Steuben County · 41,193 people
• City population: 19,015
• Metro: Corning, NY
• Population (ZIP): 19,015
• Household income: $73,263
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 565.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Asian/Pacific 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: ▼ -94.59%
• Current HPI: 173.9857
• 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

+137.4% since first listed

8 events — show timeline

• 2026-05-16 Pending — UNYREIS
• 2026-05-13 Listed $165,000 UNYREIS
• 2015-03-02 Sold (Public Records) $97,500 Public Records
• 2015-02-26 Sold (MLS) $97,500 UNYREIS
• 2014-10-01 Listed $107,500 UNYREIS
• 2010-02-03 Sold (Public Records) $73,500 Public Records
• 2010-01-15 Sold (MLS) $73,500 UNYREIS
• 2009-08-05 Listed $69,500 UNYREIS

Property tax history

+4.8%/yr

Latest (2025): $3,852 · -1.9% YoY. Source: county tax records.