138 W William St · Corning, NY 14830

$112,000

3 bd · 1.0 ba · 1,720 sqft · SingleFamily public records · 53 Days on market

Built 1900 Fair condition 3,780 sqft lot $65/sqft · 43% below area Est $197k · 43% 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
• Schools +5.9/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this 3 bedroom, 2 full bathroom located in the heart of the City of Corning. Step inside to a large open floor plan where the kitchen flows into the formal dining area creating the perfect set up for entertaining and gatherings. Enjoy the flexibility of two separate living rooms great for gatherings or the ease of a home office. The first floor bathroom was recently updated offering a super modern-water proof floor and jetted shower set up. Upstairs offers a nice traditional floor plan in which the owners bedroom walks into the second floor bathroom and also offers a balcony. Step outside to a private deck over looking your private fenced in yard.

Key facts

• Covered front porch
• Private back deck
• Updated bathrooms

Tags

• COVERED FRONT PORCH
• PRIVATE BACK DECK
• TWO SEPARATE LIVING ROOMS
• UPDATED BATHROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $112k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $109k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 6.6% in Corning — 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 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.
• Zoned schools: Hugh W Gregg Elementary School (math 42% / reading 52%, grade D-, #1,195 of 2,108 statewide, top 60%, 197 students, 60% FRL); Corning-Painted Post Middle School (math 22% / reading 48%, grade F, #480 of 729 statewide, top 66%, 962 students, 46% FRL); Corning-Painted Post High School (math 93% / reading 98%, grade A+, #82 of 1,100 statewide, top 7%, 1,463 students, 36% FRL).
• Market conditions: 171 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 43% 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 $774 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $13k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,640 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.57% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.96%
• DSCR: 1.80
• GRM: 5.3

CMA / ARV

• ARV (median comp): $196,789
• List price: $112,000
• Delta: -43.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 Princeton Ave	0.30mi	3/1.5	1,660 (-4%)	3mo	$235,000	$142	75
19 W Hazel St	0.40mi	3/2.0	1,722 (+0%)	4mo	$180,000	$105	74
196 W Pulteney St	0.19mi	2/2.0 (-1)	1,653 (-4%)	3mo	$149,000	$90	74
117 Reynolds Ave	0.25mi	3/1.5	1,619 (-6%)	4mo	$225,000	$139	74
184 Sly Ave	0.34mi	3/2.0	1,740 (+1%)	6mo	$40,000	$23	73
239 W 1st St	0.48mi	3/2.0	1,680 (-2%)	7mo	$170,000	$101	64
307 Princeton Avenue Ext	0.68mi	3/1.0	1,644 (-4%)	6mo	$193,500	$118	56
10 E Hazel St	0.43mi	4/2.0 (+1)	1,566 (-9%)	1mo	$218,000	$139	55
67 Perry Ave	0.60mi	2/1.5 (-1)	1,832 (+6%)	4mo	$55,000	$30	51
152 Pritchard Ave	0.30mi	4/2.0 (+1)	1,470 (-14%)	3mo	$239,000	$163	50
64 S Bridge St	0.56mi	3/2.0	1,484 (-14%)	1mo	$225,000	$152	46
240 W 3rd St	0.65mi	3/1.5	1,498 (-13%)	4mo	$140,000	$93	42

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: 9.6%
• Equity multiple: 1.38×
• Total profit: $11,855
• Equity at exit: $16,700

10-year hold

• IRR: 18.8%
• Equity multiple: 2.57×
• Total profit: $49,283
• Equity at exit: $9,684

Cash invested: $31,360 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 27 under contract
• Months of supply: 1.6 mo (61%/mo absorbed)
• Median asking: $157,500 ($108/sqft)
• Median days on market: 53 d
• This list price: 17% of active listings are priced below it
• ARV vs active asking: +6.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14830

• Active inventory: 171
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,760 high
• Mortgage (P&I): −$587
• Tax from tax record: −$287 /mo · $3,448/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $469

Break-even live

Break-even rent $1,166

Max offer price $112,000

Occupancy floor 68%

Sensitivity live

Price	-10% $533	-5% $501	+0% $469	+5% $438	+10% $406
Rent	-10% $330	-5% $400	+0% $469	+5% $539	+10% $608
Rate	-1.0pp $526	-0.5pp $498	base $469	+0.5pp $440	+1.0pp $411

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: $28,000
• Closing costs: $3,360
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	139d	1	0.35mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	139d	3	0.43mi
84 Gorton St Corning, NY	2.0	1.0	1909	$975	$0.51	2d	1	0.52mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	139d	1	0.55mi
237 W 3rd St Unit 201 Corning, NY	2.0	1.0	2076	$1,550	$0.75	6d	1	0.61mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	1d	1	1.19mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	1d	1	1.37mi

Property features AI

Exterior

• Parking: No garageNo driveway
• Utilities: Cable availableHigh-speed internet availablePublic water connectedSewer connected
• Home design: 2-story existing homeRectangular lotRoad frontage on a main thoroughfare
• Construction: Vinyl sidingStone foundation
• Exterior features: BalconyCovered porchPorch

Interior

• Kitchen: DishwasherGas ovenGas rangeMicrowaveRefrigerator
• Bedrooms: Total rooms: 7Has basement (see Basement under Interior features)
• Flooring: CarpetHardwoodLaminateVaried flooring
• Bathrooms: 2 full bathrooms1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fansSeparate/formal dining roomPull-down attic stairs
• Laundry & utility: Laundry in basementGas water heaterWater softener (owned)

Listing history 50 events

1. 2026-09-23
   days on market $112,000 Active 53 DOM
2. 2026-09-20
   days on market $112,000 Active 50 DOM
3. 2026-09-18
   days on market $112,000 Active 48 DOM
4. 2026-09-17
   days on market $112,000 Active 47 DOM
5. 2026-09-16
   days on market $112,000 Active 46 DOM
6. 2026-09-15
   days on market $112,000 Active 45 DOM
7. 2026-09-14
   days on market $112,000 Active 44 DOM
8. 2026-09-13
   days on market $112,000 Active 43 DOM
9. 2026-09-12
   days on market $112,000 Active 42 DOM
10. 2026-09-11
    days on market $112,000 Active 41 DOM
11. 2026-09-05
    days on market $112,000 Active 35 DOM
12. 2026-09-04
    days on market $112,000 Active 34 DOM
13. 2026-09-03
    days on market $112,000 Active 33 DOM
14. 2026-09-02
    days on market $112,000 Active 32 DOM
15. 2026-08-30
    days on market $112,000 Active 29 DOM
16. 2026-08-29
    price $112,000 Active 28 DOM
17. 2026-08-29
    days on market $125,000 Active 28 DOM
18. 2026-08-28
    days on market $125,000 Active 27 DOM
19. 2026-08-27
    days on market $125,000 Active 26 DOM
20. 2026-08-26
    days on market $125,000 Active 25 DOM
21. 2026-08-25
    days on market $125,000 Active 24 DOM
22. 2026-08-24
    days on market $125,000 Active 23 DOM
23. 2026-08-23
    days on market $125,000 Active 22 DOM
24. 2026-08-22
    days on market $125,000 Active 21 DOM
25. 2026-08-21
    days on market $125,000 Active 20 DOM
26. 2026-08-20
    days on market $125,000 Active 19 DOM
27. 2026-08-19
    days on market $125,000 Active 18 DOM
28. 2026-08-18
    days on market $125,000 Active 17 DOM
29. 2026-08-17
    days on market $125,000 Active 16 DOM
30. 2026-08-16
    days on market $125,000 Active 15 DOM
31. 2026-08-15
    days on market $125,000 Active 14 DOM
32. 2026-08-14
    days on market $125,000 Active 13 DOM
33. 2026-08-13
    days on market $125,000 Active 12 DOM
34. 2026-08-12
    days on market $125,000 Active 11 DOM
35. 2026-08-11
    days on market $125,000 Active 10 DOM
36. 2026-08-10
    days on market $125,000 Active 9 DOM
37. 2026-08-09
    days on market $125,000 Active 8 DOM
38. 2026-08-08
    days on market $125,000 Active 7 DOM
39. 2026-08-07
    days on market $125,000 Active 6 DOM
40. 2026-08-06
    days on market $125,000 Active 5 DOM
41. 2026-08-05
    days on market $125,000 Active 4 DOM
42. 2026-08-04
    days on market $125,000 Active 3 DOM
43. 2026-08-03
    pricestatusdays on marketlisting id $125,000 Active 2 DOM
44. 2026-05-11
    status Pending 840-char remark
45. 2026-03-29
    price $130,000 840-char remark
46. 2026-03-09
    listed $145,000 Active 840-char remark
47. 2026-02-28
    historical
48. 2025-09-04
    price $145,000
49. 2025-08-05
    listed $165,500 Active
50. 2024-05-24
    soldstatus $74,900

ⓘ 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: $3,448 · $287/mo
• Projected year-2 tax: $3,448 · $287/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 3/10 Moderate FEMA zone X · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 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: $21,123
• − Mortgage interest: −$6,274
• − Property taxes: −$3,448
• − Insurance: −$560
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$3,258
• Taxable income: $4,203
• Est. tax owed @ 24.0%: −$1,009
• After-tax cash flow: $4,622/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $43,000–$77,400 screening

This property requires significant exterior and interior repairs, including repainting, driveway repair, and roof replacement. These updates will significantly improve its resale and rental value.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $30,500–$92,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Major Windows (windows) — The windows appear to be old and possibly in need of replacement.
• Major Electrical (electrical) — The electrical panel is not visible, but the house is old, suggesting potential issues.
• Major Plumbing (plumbing) — The house is old, and plumbing issues are common in older homes.

Repairs flagged

• Major roof — Signs of potential leaks and damage.
• Major exterior siding — Severe peeling and chipping.
• Major driveway — Visible cracks and uneven surfaces.
• Major interior walls and paint — No photos, but exterior condition suggests interior needs repainting.
• Major HVAC and plumbing systems — No specific photos, but exterior condition suggests potential issues. The satellite image shows a water heater and air conditioning unit, which may need inspection.

Value-add opportunities

• Both painting the exterior — Fresh paint can significantly improve curb appeal and property value. ↑
• Both repairing the driveway — A repaired driveway enhances the property's appearance and functionality. ↑
• Both replacing the roof — A new roof is essential for long-term property value and can prevent costly repairs in the future. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 59/100

Zoned Schools

Elementary Hugh W Gregg Elementary School D- NY #1,195/2,108 Nat'l #14,504/41,679 Middle Corning-Painted Post Middle School F NY #480/729 Nat'l #7,460/14,009 High Corning-Painted Post High School A+ NY #82/1,100 Nat'l #115/17,239

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

A Composite livability gradescore 87/100

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 · 93,062 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: 5% of renters

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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%

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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%

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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

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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

Property features AI

Exterior

• Parking: No garageNo driveway
• Utilities: Cable availableHigh-speed internet availablePublic water connectedSewer connected
• Home design: 2-story existing homeRectangular lotRoad frontage on a main thoroughfare
• Construction: Vinyl sidingStone foundation
• Exterior features: BalconyCovered porchPorch

Interior

• Kitchen: DishwasherGas ovenGas rangeMicrowaveRefrigerator
• Bedrooms: Total rooms: 7Has basement (see Basement under Interior features)
• Flooring: CarpetHardwoodLaminateVaried flooring
• Bathrooms: 2 full bathrooms1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Ceiling fansSeparate/formal dining roomPull-down attic stairs
• Laundry & utility: Laundry in basementGas water heaterWater softener (owned)

Price history

+390.2% since first listed

12 events — show timeline

• 2026-08-01 Listed $125,000 UNYREIS
• 2026-05-11 Pending — UNYREIS
• 2026-05-07 Listing Removed — UNYREIS
• 2026-03-29 Price Changed $130,000 UNYREIS
• 2026-03-09 Listed $145,000 UNYREIS
• 2026-02-28 Listing Removed — UNYREIS
• 2025-09-04 Price Changed $145,000 UNYREIS
• 2025-08-05 Listed $165,500 UNYREIS
• 2024-05-24 Sold (Public Records) $74,900 Public Records
• 2010-12-15 Sold (MLS) $74,000 UNYREIS
• 2010-10-15 Listed $74,900 UNYREIS
• 2003-08-05 Sold (Public Records) $25,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $3,448 · -1.9% YoY. Source: county tax records.