121 Davis St · Corning, NY 14830

$145,000

3 bd · 1.5 ba · 1,644 sqft · SingleFamily public records · 1 Days on market

Built 1907 7,920 sqft lot Est $161k · 10% under

---

Why this score? — see what drove the C+ 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 +23.5/30.0
• ARV discount +12.0/15.0
• DSCR +7.6/10.0
• 1% rule +7.2/10.0
• 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

Welcome to 121 Davis Street in the City of Corning! This spacious Folk Victorian-style home offers approximately 1,644 square feet of living space with 3 bedrooms, 1.5 bathrooms, and a flexible floor plan to fit a variety of needs. The main level features a bright living room, formal dining area, kitchen, and an office that could serve as a potential 4th bedroom, home office, hobby room, or guest space. Upstairs you'll find three generously sized bedrooms and a full bath. Enjoy relaxing on the covered front porch, entertaining on the rear deck, and the convenience of a detached 2-car garage with off-street parking. Situated on a city lot close to downtown Corning, shopping, restaurants, par

Key facts

• Covered front porch
• Flexible floor plan
• Bright living room

Tags

• FOLK VICTORIAN STYLE
• FLEXIBLE FLOOR PLAN
• BRIGHT LIVING ROOM
• FORMAL DINING AREA
• COVERED FRONT PORCH
• REAR DECK

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Electricity connected; Public water connected; Sewer connected; High-speed internet available
• Home design: 2-story home; Existing construction; Vinyl siding; Shingle roof; Block foundation; Resale property
• Construction: Vinyl siding construction; Shingle roof; Block foundation; Built previously (existing)
• Exterior features: Concrete driveway; Corner lot; Rectangular lot (66 x 120)

Interior

• Kitchen: Built-in range; Built-in oven; Gas cooktop; Range hood; Dishwasher; Exhaust fan; Refrigerator; Gas water heater
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Laminate; Vinyl; Varies
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Gas heating; Baseboard heating; Hot water heating
• Interior features: Separate/formal living room; Combined living and dining area; Full basement
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).

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: 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 $1k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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 2.6% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1907 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.36
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $161,112
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 Princeton Ave	0.08mi	3/1.5	1,660 (+1%)	0mo	$235,000	$142	94
117 Reynolds Ave	0.27mi	3/1.5	1,619 (-2%)	0mo	$225,000	$139	85
19 W Hazel St	0.17mi	3/2.0	1,722 (+5%)	1mo	$180,000	$105	82
184 Sly Ave	0.13mi	3/2.0	1,740 (+6%)	3mo	$40,000	$23	80
307 Princeton Avenue Ext	0.45mi	3/1.0	1,644 (0%)	2mo	$193,500	$118	75
148 W Pulteney St	0.21mi	4/2.0 (+1)	1,585 (-4%)	5mo	$60,000	$38	73
258 Sly Ave	0.26mi	3/2.0	1,507 (-8%)	5mo	$90,000	$60	68
257 Bridge St	0.30mi	3/1.5	1,456 (-11%)	6mo	$72,750	$50	62
239 W 1st St	0.71mi	3/2.0	1,680 (+2%)	4mo	$170,000	$101	58
67 Perry Ave	0.37mi	2/1.5 (-1)	1,832 (+11%)	1mo	$55,000	$30	58
25 Fero Ave	0.36mi	2/2.0 (-1)	1,449 (-12%)	6mo	$110,000	$76	52
229 Cutler Ave	0.56mi	3/1.5	1,822 (+11%)	6mo	$179,000	$98	51

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-6,189
• Equity at exit: $21,620

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $17,193
• Equity at exit: $12,537

Cash invested: $40,600 (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 14830

• Active inventory: 106
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,776 high
• Mortgage (P&I): −$760
• Tax from tax record: −$312 /mo · $3,744/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $270

Break-even live

Break-even rent $1,434

Max offer price $145,000

Occupancy floor 80%

Sensitivity live

Price	-10% $352	-5% $311	+0% $270	+5% $229	+10% $188
Rent	-10% $130	-5% $200	+0% $270	+5% $340	+10% $410
Rate	-1.0pp $343	-0.5pp $307	base $270	+0.5pp $232	+1.0pp $194

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	45d	1	0.29mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	45d	1	0.31mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	45d	3	0.71mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	45d	1	1.29mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	45d	1	1.43mi

Listing history 2 events

1. 2026-06-03
   remarks 699-char remark
2. 2026-06-03
   listed $145,000 Active 1 DOM

ⓘ 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: $3,744 · $312/mo
• Projected year-2 tax: $3,744 · $312/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 8 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: $21,310
• − Mortgage interest: −$8,122
• − Property taxes: −$3,744
• − Insurance: −$725
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$4,218
• Taxable income: $1,090
• Est. tax owed @ 24.0%: −$262
• After-tax cash flow: $2,979/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

+51.2% since first listed

5 events — show timeline

• 2026-06-03 Listed $145,000 UNYREIS
• 2025-04-13 Rental Removed $1,600 UNYREIS
• 2025-04-08 Listed for Rent $1,600 UNYREIS
• 2008-10-21 Listing Removed — UNYREIS
• 2008-05-19 Listed $95,900 UNYREIS

Property tax history

+4.0%/yr

Latest (2025): $3,744 · -1.9% YoY. Source: county tax records.