6409 County Route 29 · Hornell, NY 14843

$39,900

3 bd · 2.0 ba · 896 sqft · Land public records · 238 Days on market

Built 2000 $45/sqft · 4740% above area ↓ 7% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• Schools +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to Edge View Estates! This well maintained 2000 single wide mobile home is located in the Edge View Estates community just out side of the city limits of Hornell. 11 Locust Dr. Step onto the inviting front porch -perfect for entertaining or simply relaxing and enjoying peaceful days. Inside , you'll appreciate the open floor plan connecting the living room to the kitchen. The kitchen offers a nice peninsula for gathering or meal prep. Plenty of space for a nice dining table as well as a small pantry area that houses the washer and dryer. At one end you will find the primary suite featuring an attached full bathroom with a large sunken tub- a perfect spot to unwind. The opposite end includes two additional bedrooms and another full bathroom. This home features updated flooring and carpeting as well as an updated roof and central air conditioning for year round comfort. Ideal for anyone looking to downsize or just staring out. This home is move in ready and exceptionally clean . Lot rent is $481/mth , which includes taxes. All buyers are subject to park approval. Don't wait on this well-kept home in a peaceful community. Schedule your showing today!

Key facts

• Open floor plan
• Front porch
• Primary suite

Tags

• FRONT PORCH
• OPEN FLOOR PLAN
• PRIMARY SUITE
• ATTACHED FULL BATHROOM
• LARGE SUNKEN TUB
• UPDATED FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $40k.

Deal economics

• At list price, monthly cash flow is $839 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.5% vs local median 13.3% in Hornell — 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 70/100 on livability (#451 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, schools D, crime F.
• Canisteo-Greenwood CSD (rural): math 51% / reading 53% proficiency, ranked #354 of 590 in NY (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($276 loan paydown + $2k appreciation (4.0% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 3.54% ✓
• Cap rate: 31.51%
• Cash-on-cash: 90.07%
• DSCR: 5.01
• GRM: 2.4

CMA / ARV

• ARV (median comp): $995
• List price: $39,900
• Delta: 3910.05%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

3.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 95.0%
• Equity multiple: 6.40×
• Total profit: $60,275
• Equity at exit: $20,108

10-year hold

• IRR: 94.0%
• Equity multiple: 13.29×
• Total profit: $137,339
• Equity at exit: $32,792

Cash invested: $11,172 (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 14843

• Home prices YoY: 1.9%
• Active inventory: 59
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,411 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $839

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 36%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $39,900 Active 238 DOM
2. 2026-06-18
   days on market $39,900 Active 237 DOM
3. 2026-06-17
   days on market $39,900 Active 236 DOM
4. 2026-06-16
   days on market $39,900 Active 235 DOM
5. 2026-06-15
   days on market $39,900 Active 234 DOM
6. 2026-06-14
   days on market $39,900 Active 232 DOM
7. 2026-06-12
   days on market $39,900 Active 231 DOM
8. 2026-06-09
   days on market $39,900 Active 228 DOM
9. 2026-06-08
   days on market $39,900 Active 227 DOM
10. 2026-06-07
    days on market $39,900 Active 226 DOM
11. 2026-06-05
    days on market $39,900 Active 223 DOM
12. 2026-06-03
    days on market $39,900 Active 222 DOM
13. 2026-06-02
    days on market $39,900 Active 221 DOM
14. 2026-06-01
    days on market $39,900 Active 220 DOM
15. 2026-05-31
    days on market $39,900 Active 219 DOM
16. 2026-05-30
    days on market $39,900 Active 218 DOM
17. 2026-01-13
    price $39,900 1174-char remark

    Show marketing remark (1174 chars)

    Welcome to Edge View Estates! This well maintained 2000 single wide mobile home is located in the Edge View Estates community just out side of the city limits of Hornell. 11 Locust Dr. Step onto the inviting front porch -perfect for entertaining or simply relaxing and enjoying peaceful days. Inside , you'll appreciate the open floor plan connecting the living room to the kitchen. The kitchen offers a nice peninsula for gathering or meal prep. Plenty of space for a nice dining table as well as a small pantry area that houses the washer and dryer. At one end you will find the primary suite featuring an attached full bathroom with a large sunken tub- a perfect spot to unwind. The opposite end includes two additional bedrooms and another full bathroom. This home features updated flooring and carpeting as well as an updated roof and central air conditioning for year round comfort. Ideal for anyone looking to downsize or just staring out. This home is move in ready and exceptionally clean . Lot rent is $481/mth , which includes taxes. All buyers are subject to park approval. Don't wait on this well-kept home in a peaceful community. Schedule your showing today!

18. 2025-10-23
    listed $42,900 Active 1174-char remark

    Show marketing remark (1174 chars)

    Welcome to Edge View Estates! This well maintained 2000 single wide mobile home is located in the Edge View Estates community just out side of the city limits of Hornell. 11 Locust Dr. Step onto the inviting front porch -perfect for entertaining or simply relaxing and enjoying peaceful days. Inside , you'll appreciate the open floor plan connecting the living room to the kitchen. The kitchen offers a nice peninsula for gathering or meal prep. Plenty of space for a nice dining table as well as a small pantry area that houses the washer and dryer. At one end you will find the primary suite featuring an attached full bathroom with a large sunken tub- a perfect spot to unwind. The opposite end includes two additional bedrooms and another full bathroom. This home features updated flooring and carpeting as well as an updated roof and central air conditioning for year round comfort. Ideal for anyone looking to downsize or just staring out. This home is move in ready and exceptionally clean . Lot rent is $481/mth , which includes taxes. All buyers are subject to park approval. Don't wait on this well-kept home in a peaceful community. Schedule your showing today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,926
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$1,161
• Taxable income: $10,024
• Est. tax owed @ 24.0%: −$2,406
• After-tax cash flow: $7,657/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: Canisteo-Greenwood CSD
• NCES district ID: 3600124
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 53% ▲ 7.00%
• Median HH income: $47,928
• Composite: 44.25/100
• National rank: #2843
• State rank: #354 of 590 in NY

Livability — Hornell

• Score: 70/100
• State rank: #451
• US rank: #7888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Steuben County · 41,193 people
• City population: 12,383
• Metro: Corning, NY
• Population (ZIP): 12,383
• Household income: $57,874
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 415.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Arabic 1% Spanish 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: ▲ 3.95%
• Current HPI: 210.1986
• 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

-7.0% since first listed

2 events — show timeline

• 2026-01-13 Price Changed $39,900 UNYREIS
• 2025-10-23 Listed $42,900 UNYREIS

Property tax history

+1.7%/yr

Latest (2025): $72,361 · +7.1% YoY. Source: county tax records.