138 W William St · Corning, NY 14830

$130,000

3 bd · 1.0 ba · 1,720 sqft · SingleFamily public records · 62 Days on market

Built 1900 3,780 sqft lot $76/sqft · 32% below area Est $190k · 32% under

---

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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +8.8/10.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

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. Recent improvements include a new furnace and hot water heater giving you a piece of mind and efficiency. Conveniently located close to everything Corning has to offer.

Key facts

• Private deck
• Open floor plan
• Jetted shower

Tags

• OPEN FLOOR PLAN
• FORMAL DINING AREA
• TWO SEPARATE LIVING ROOMS
• UPDATED FIRST FLOOR BATHROOM
• JETTED SHOWER
• PRIVATE DECK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 8.0% in Corning — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $899 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $130k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.38% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.08%
• DSCR: 1.58
• GRM: 6.0

CMA / ARV

• ARV (median comp): $190,498
• List price: $130,000
• Delta: -31.76%
• 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%)	0mo	$235,000	$142	78
19 W Hazel St	0.40mi	3/2.0	1,722 (+0%)	1mo	$180,000	$105	77
117 Reynolds Ave	0.25mi	3/1.5	1,619 (-6%)	0mo	$225,000	$139	76
184 Sly Ave	0.34mi	3/2.0	1,740 (+1%)	3mo	$40,000	$23	76
148 W Pulteney St	0.09mi	4/2.0 (+1)	1,585 (-8%)	5mo	$60,000	$38	69
239 W 1st St	0.48mi	3/2.0	1,680 (-2%)	4mo	$170,000	$101	66
234 W 3rd St	0.65mi	3/1.5	1,754 (+2%)	5mo	$145,000	$83	60
307 Princeton Avenue Ext	0.68mi	3/1.0	1,644 (-4%)	2mo	$193,500	$118	59
229 Cutler Ave	0.62mi	3/1.5	1,822 (+6%)	6mo	$179,000	$98	54
67 Perry Ave	0.60mi	2/1.5 (-1)	1,832 (+6%)	1mo	$55,000	$30	54
258 Sly Ave	0.52mi	3/2.0	1,507 (-12%)	5mo	$90,000	$60	47
240 W 3rd St	0.65mi	3/1.5	1,498 (-13%)	1mo	$140,000	$93	45

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $4,316
• Equity at exit: $19,383

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $36,728
• Equity at exit: $11,240

Cash invested: $36,400 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,798 high
• Mortgage (P&I): −$682
• Tax from tax record: −$287 /mo · $3,448/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $397

Break-even live

Break-even rent $1,295

Max offer price $130,000

Occupancy floor 73%

Sensitivity live

Price	-10% $470	-5% $434	+0% $397	+5% $360	+10% $323
Rent	-10% $255	-5% $326	+0% $397	+5% $468	+10% $539
Rate	-1.0pp $462	-0.5pp $430	base $397	+0.5pp $363	+1.0pp $329

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: $32,500
• Closing costs: $3,900
• 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	44d	1	0.35mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	44d	3	0.43mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	44d	1	0.55mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	44d	1	1.19mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	44d	1	1.37mi

Listing history 10 events

1. 2026-05-11
   status Pending 840-char remark

   Show marketing remark (840 chars)

   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. Recent improvements include a new furnace and hot water heater giving you a piece of mind and efficiency. Conveniently located close to everything Corning has to offer.

2. 2026-03-29
   price $130,000 840-char remark

   Show marketing remark (840 chars)

   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. Recent improvements include a new furnace and hot water heater giving you a piece of mind and efficiency. Conveniently located close to everything Corning has to offer.

3. 2026-03-09
   listed $145,000 Active 840-char remark

   Show marketing remark (840 chars)

   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. Recent improvements include a new furnace and hot water heater giving you a piece of mind and efficiency. Conveniently located close to everything Corning has to offer.

4. 2026-02-28
   historical
5. 2025-09-04
   price $145,000
6. 2025-08-05
   listed $165,500 Active
7. 2024-05-24
   soldstatus $74,900
8. 2010-12-15
   soldstatus $74,000
9. 2010-10-15
   listed $74,900
10. 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: −$7,282
• − Property taxes: −$3,448
• − Insurance: −$650
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − Depreciation: −$3,782
• Taxable income: $2,958
• Est. tax owed @ 24.0%: −$710
• After-tax cash flow: $4,053/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

+409.8% since first listed

10 events — show timeline

• 2026-05-11 Pending — 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.