634 Pennsylvania Ave · Elmira, NY 14904

$70,000

4 bd · 1.5 ba · 2,078 sqft · SingleFamily public records · 27 Days on market

Built 1900 6,363 sqft lot Est $104k · 33% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• 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

Move right in to this completely restored 4 Bed, 1.5 Bath Victorian home! Upgrades Galore! Huge Eat-in Kitchen remodeled with concrete counters, shaker cabinets, stainless appliances. New fixtures & lighting; new carpet upstairs and hand scraped engineered hardwood downstairs, new windows, complete 200 AMP electric upgrade. Two porches welcome you in to 10 foot ceilings, formal entry, formal dining, family and living room downstairs. Then make your way up to 4 spacious bedrooms and an over-sized remodeled Full bath w/ claw foot tub and shower. Manicured & partially fenced side yard. Don't wait!!

Key facts

• Private porch
• Formal dining room
• Large kitchen

Tags

• CORNER LOT
• LARGE KITCHEN
• FORMAL DINING ROOM
• PRIVATE PORCH
• WRAP AROUND DECK
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 10.1% in Elmira — 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 62/100 on livability (#832 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• 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: 104 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.91% ✓
• Cap rate: 14.23%
• Cash-on-cash: 28.36%
• DSCR: 2.26
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $103,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
451 South Ave	0.15mi	3/2.0 (-1)	2,070 (-0%)	2mo	$88,000	$43	84
514 Beecher St	0.23mi	4/2.0	2,068 (-0%)	6mo	$125,000	$60	81
425 Jefferson St	0.34mi	4/2.0	2,016 (-3%)	2mo	$100,000	$50	76
513 Herrick St	0.22mi	5/1.0 (+1)	2,124 (+2%)	5mo	$73,500	$35	75
631 Pennsylvania Ave	0.03mi	4/1.0	1,787 (-14%)	2mo	$67,000	$37	72
714 Pennsylvania Ave	0.20mi	3/1.5 (-1)	1,906 (-8%)	2mo	$169,000	$89	70
254 South Ave	0.18mi	3/1.5 (-1)	1,828 (-12%)	2mo	$109,000	$60	64
339 Broadway St	0.49mi	4/1.5	2,259 (+9%)	1mo	$110,000	$49	62
385 Pennsylvania Ave	0.52mi	3/2.0 (-1)	2,044 (-2%)	7mo	$47,000	$23	60
705 Holdridge St	0.52mi	4/1.5	1,844 (-11%)	7mo	$133,000	$72	51
413 West Hudson St	0.72mi	4/1.5	1,888 (-9%)	1mo	$45,000	$24	50
771 Southport St	0.51mi	4/2.5	1,787 (-14%)	7mo	$199,000	$111	43

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: 18.5%
• Equity multiple: 1.75×
• Total profit: $14,748
• Equity at exit: $10,437

10-year hold

• IRR: 27.0%
• Equity multiple: 3.39×
• Total profit: $46,778
• Equity at exit: $6,052

Cash invested: $19,600 (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: 104
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,338 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$198 /mo · $2,373/yr
• Insurance: −$29
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $408

Break-even live

Break-even rent $822

Max offer price $70,000

Occupancy floor 65%

Sensitivity live

Price	-10% $447	-5% $428	+0% $408	+5% $388	+10% $368
Rent	-10% $302	-5% $355	+0% $408	+5% $461	+10% $513
Rate	-1.0pp $443	-0.5pp $426	base $408	+0.5pp $390	+1.0pp $371

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	45d	1	1.31mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	45d	1	1.49mi

Listing history 17 events

1. 2026-04-08
   status Pending
2. 2026-03-11
   listed $70,000 Active
3. 2025-12-30
   status Pending
4. 2025-12-24
   historical
5. 2025-11-05
   price $79,900
6. 2025-10-27
   listed $89,900 Active
7. 2019-01-15
   soldstatus $94,000
8. 2019-01-14
   soldstatus $94,000 614-char remark

   Show marketing remark (614 chars)

   Move right in to this completely restored 4 Bed, 1.5 Bath Victorian home! Upgrades Galore! Huge Eat-in Kitchen remodeled with concrete counters, shaker cabinets, stainless appliances. New fixtures & lighting; new carpet upstairs and hand scraped engineered hardwood downstairs, new windows, complete 200 AMP electric upgrade. Two porches welcome you in to 10 foot ceilings, formal entry, formal dining, family and living room downstairs. Then make your way up to 4 spacious bedrooms and an over-sized remodeled Full bath w/ claw foot tub and shower. Manicured & partially fenced side yard. Don't wait!!

9. 2019-01-14
   soldstatus $94,000

   Show marketing remark (614 chars)

   Move right in to this completely restored 4 Bed, 1.5 Bath Victorian home! Upgrades Galore! Huge Eat-in Kitchen remodeled with concrete counters, shaker cabinets, stainless appliances. New fixtures & lighting; new carpet upstairs and hand scraped engineered hardwood downstairs, new windows, complete 200 AMP electric upgrade. Two porches welcome you in to 10 foot ceilings, formal entry, formal dining, family and living room downstairs. Then make your way up to 4 spacious bedrooms and an over-sized remodeled Full bath w/ claw foot tub and shower. Manicured & partially fenced side yard. Don't wait!!

10. 2018-10-13
    listed $99,900 614-char remark

    Show marketing remark (614 chars)

    Move right in to this completely restored 4 Bed, 1.5 Bath Victorian home! Upgrades Galore! Huge Eat-in Kitchen remodeled with concrete counters, shaker cabinets, stainless appliances. New fixtures & lighting; new carpet upstairs and hand scraped engineered hardwood downstairs, new windows, complete 200 AMP electric upgrade. Two porches welcome you in to 10 foot ceilings, formal entry, formal dining, family and living room downstairs. Then make your way up to 4 spacious bedrooms and an over-sized remodeled Full bath w/ claw foot tub and shower. Manicured & partially fenced side yard. Don't wait!!

11. 2018-10-13
    listed $99,900

    Show marketing remark (614 chars)

    Move right in to this completely restored 4 Bed, 1.5 Bath Victorian home! Upgrades Galore! Huge Eat-in Kitchen remodeled with concrete counters, shaker cabinets, stainless appliances. New fixtures & lighting; new carpet upstairs and hand scraped engineered hardwood downstairs, new windows, complete 200 AMP electric upgrade. Two porches welcome you in to 10 foot ceilings, formal entry, formal dining, family and living room downstairs. Then make your way up to 4 spacious bedrooms and an over-sized remodeled Full bath w/ claw foot tub and shower. Manicured & partially fenced side yard. Don't wait!!

12. 2013-06-25
    historical
13. 2013-05-16
    listed $88,500
14. 2011-05-25
    soldstatus $78,500
15. 2011-05-20
    soldstatus $78,500
16. 2010-09-07
    listed $84,500
17. 1999-09-08
    soldstatus $55,000

ⓘ 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: $2,373 · $198/mo
• Projected year-2 tax: $2,373 · $198/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 7/10 Severe FEMA zone X · 78% 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 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: $16,060
• − Mortgage interest: −$3,921
• − Property taxes: −$2,373
• − Insurance: −$1,016
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$2,036
• Taxable income: $4,144
• Est. tax owed @ 24.0%: −$994
• After-tax cash flow: $3,898/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 — Elmira

• Score: 62/100
• State rank: #832
• US rank: #16139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmira, NY
• City population: 14,276
• 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

+27.3% since first listed

17 events — show timeline

• 2026-04-08 Pending — UNYREIS
• 2026-03-11 Listed $70,000 UNYREIS
• 2025-12-30 Pending — UNYREIS
• 2025-12-24 Listing Removed — UNYREIS
• 2025-11-05 Price Changed $79,900 UNYREIS
• 2025-10-27 Listed $89,900 UNYREIS
• 2019-01-15 Sold (Public Records) $94,000 Public Records
• 2019-01-14 Sold (MLS) $94,000 IBRMLS
• 2019-01-14 Sold (MLS) $94,000 UNYREIS
• 2018-10-13 Listed $99,900 IBRMLS
• 2018-10-13 Listed $99,900 UNYREIS
• 2013-06-25 Listing Removed — UNYREIS
• 2013-05-16 Listed $88,500 UNYREIS
• 2011-05-25 Sold (Public Records) $78,500 Public Records
• 2011-05-20 Sold (MLS) $78,500 UNYREIS
• 2010-09-07 Listed $84,500 UNYREIS
• 1999-09-08 Sold (Public Records) $55,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,373 · -35.7% YoY. Source: county tax records.