138 W William St · Corning, NY 14830

$125,000

3 bd · 1.0 ba · 1,720 sqft · SingleFamily public records · 7 Days on market

Built 1900 Fair condition 3,780 sqft lot $73/sqft · 35% below area Est $192k · 35% 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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 $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 10.4% vs local median 6.9% 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: 142 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 93d 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.
• Current owner paid $75k; list at $125k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.44% ✓
• Cap rate: 10.37%
• Cash-on-cash: 14.58%
• DSCR: 1.65
• GRM: 5.8

CMA / ARV

• ARV (median comp): $192,457
• List price: $125,000
• Delta: -32.45%
• 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%)	2mo	$235,000	$142	76
19 W Hazel St	0.40mi	3/2.0	1,722 (+0%)	2mo	$180,000	$105	75
196 W Pulteney St	0.19mi	2/2.0 (-1)	1,653 (-4%)	1mo	$149,000	$90	75
117 Reynolds Ave	0.25mi	3/1.5	1,619 (-6%)	2mo	$225,000	$139	75
184 Sly Ave	0.34mi	3/2.0	1,740 (+1%)	4mo	$40,000	$23	75
239 W 1st St	0.48mi	3/2.0	1,680 (-2%)	5mo	$170,000	$101	65
234 W 3rd St	0.65mi	3/1.5	1,754 (+2%)	7mo	$145,000	$83	59
307 Princeton Avenue Ext	0.68mi	3/1.0	1,644 (-4%)	4mo	$193,500	$118	58
67 Perry Ave	0.60mi	2/1.5 (-1)	1,832 (+6%)	2mo	$55,000	$30	52
152 Pritchard Ave	0.30mi	4/2.0 (+1)	1,470 (-14%)	2mo	$239,000	$163	51
258 Sly Ave	0.52mi	3/2.0	1,507 (-12%)	7mo	$90,000	$60	45
240 W 3rd St	0.65mi	3/1.5	1,498 (-13%)	3mo	$140,000	$93	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: 5.1%
• Equity multiple: 1.20×
• Total profit: $6,932
• Equity at exit: $18,638

10-year hold

• IRR: 14.6%
• Equity multiple: 2.18×
• Total profit: $41,344
• Equity at exit: $10,808

Cash invested: $35,000 (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: 3 active · 23 under contract
• Months of supply: 1.2 mo (83%/mo absorbed)
• Median asking: $145,000 ($88/sqft)
• Median days on market: 73 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +26.9% above 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: 142
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,798 high
• Mortgage (P&I): −$656
• Tax from tax record: −$287 /mo · $3,448/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $425

Break-even live

Break-even rent $1,259

Max offer price $125,000

Occupancy floor 71%

Sensitivity live

Price	-10% $496	-5% $461	+0% $425	+5% $390	+10% $354
Rent	-10% $283	-5% $354	+0% $425	+5% $496	+10% $567
Rate	-1.0pp $488	-0.5pp $457	base $425	+0.5pp $393	+1.0pp $360

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: $31,250
• Closing costs: $3,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	93d	1	0.35mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	93d	3	0.43mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	93d	1	0.55mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	93d	1	1.19mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	93d	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 16 events

1. 2026-08-08
   days on market $125,000 Active 7 DOM
2. 2026-08-07
   days on market $125,000 Active 6 DOM
3. 2026-08-06
   days on market $125,000 Active 5 DOM
4. 2026-08-05
   days on market $125,000 Active 4 DOM
5. 2026-08-04
   days on market $125,000 Active 3 DOM
6. 2026-08-03
   pricestatusdays on marketlisting id $125,000 Active 2 DOM
7. 2026-05-11
   status Pending 840-char remark
8. 2026-03-29
   price $130,000 840-char remark
9. 2026-03-09
   listed $145,000 Active 840-char remark
10. 2026-02-28
    historical
11. 2025-09-04
    price $145,000
12. 2025-08-05
    listed $165,500 Active
13. 2024-05-24
    soldstatus $74,900
14. 2010-12-15
    soldstatus $74,000
15. 2010-10-15
    listed $74,900
16. 2003-08-05
    soldstatus $25,500

ⓘ 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: $21,571
• − Mortgage interest: −$7,002
• − Property taxes: −$3,448
• − Insurance: −$625
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − Depreciation: −$3,636
• Taxable income: $3,409
• Est. tax owed @ 24.0%: −$818
• After-tax cash flow: $4,284/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.