196 W Pulteney St · Corning, NY 14830

$144,900

3 bd · 2.0 ba · 1,653 sqft · SingleFamily public records · 70 Days on market

Built 1910 0.25 ac lot $88/sqft · 25% below area Est $194k · 25% under ↓ 9% since listing

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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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +7.6/10.0
• 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

This 2 story home has been very well maintained. There are 2 bedrooms and a third that has been converted to a kitchenette. It easily can be converted back to a bedroom. There is a 1 car detached garage with a separate storage room attached to the back of the garage. The lot is oversized. House is located convenient to Corning, Riverside + Painted Post.

Key facts

• Convenient location
• Oversized lot
• Detached garage

Tags

• DETACHED GARAGE
• CONVERTED KITCHENETTE
• OVERSIZED LOT
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.

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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d 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

• It's been on market 70 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 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 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.26% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.46%
• DSCR: 1.47
• GRM: 6.6

CMA / ARV

• ARV (median comp): $194,441
• List price: $144,900
• Delta: -25.48%
• 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
117 Reynolds Ave	0.09mi	3/1.5	1,619 (-2%)	0mo	$225,000	$139	90
156 Princeton Ave	0.28mi	3/1.5	1,660 (+0%)	0mo	$235,000	$142	84
148 W Pulteney St	0.12mi	4/2.0 (+1)	1,585 (-4%)	5mo	$60,000	$38	78
19 W Hazel St	0.46mi	3/2.0	1,722 (+4%)	1mo	$180,000	$105	71
184 Sly Ave	0.41mi	3/2.0	1,740 (+5%)	3mo	$40,000	$23	70
307 Princeton Avenue Ext	0.60mi	3/1.0	1,644 (-0%)	2mo	$193,500	$118	65
239 W 1st St	0.63mi	3/2.0	1,680 (+2%)	4mo	$170,000	$101	65
258 Sly Ave	0.53mi	3/2.0	1,507 (-9%)	5mo	$90,000	$60	56
229 Cutler Ave	0.45mi	3/1.5	1,822 (+10%)	5mo	$179,000	$98	56
257 Bridge St	0.58mi	3/1.5	1,456 (-12%)	6mo	$72,750	$50	46
67 Perry Ave	0.66mi	2/1.5 (-1)	1,832 (+11%)	1mo	$55,000	$30	43
25 Fero Ave	0.63mi	2/2.0 (-1)	1,449 (-12%)	6mo	$110,000	$76	40

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-878
• Equity at exit: $21,605

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $28,561
• Equity at exit: $12,528

Cash invested: $40,572 (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: 6.6×

Monthly cashflow live

• Estimated rent: $1,822 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$266 /mo · $3,188/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $354

Break-even live

Break-even rent $1,375

Max offer price $144,900

Occupancy floor 76%

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	43d	1	0.16mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	43d	1	0.45mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	43d	3	0.48mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	43d	1	1.40mi

Listing history 4 events

1. 2026-05-11
   status Pending 355-char remark

   Show marketing remark (355 chars)

   This 2 story home has been very well maintained. There are 2 bedrooms and a third that has been converted to a kitchenette. It easily can be converted back to a bedroom. There is a 1 car detached garage with a separate storage room attached to the back of the garage. The lot is oversized. House is located convenient to Corning, Riverside + Painted Post.

2. 2026-04-21
   price $144,900 355-char remark

   Show marketing remark (355 chars)

   This 2 story home has been very well maintained. There are 2 bedrooms and a third that has been converted to a kitchenette. It easily can be converted back to a bedroom. There is a 1 car detached garage with a separate storage room attached to the back of the garage. The lot is oversized. House is located convenient to Corning, Riverside + Painted Post.

3. 2026-04-13
   price $154,900 355-char remark

   Show marketing remark (355 chars)

   This 2 story home has been very well maintained. There are 2 bedrooms and a third that has been converted to a kitchenette. It easily can be converted back to a bedroom. There is a 1 car detached garage with a separate storage room attached to the back of the garage. The lot is oversized. House is located convenient to Corning, Riverside + Painted Post.

4. 2026-03-02
   listed $159,900 Active 355-char remark

   Show marketing remark (355 chars)

   This 2 story home has been very well maintained. There are 2 bedrooms and a third that has been converted to a kitchenette. It easily can be converted back to a bedroom. There is a 1 car detached garage with a separate storage room attached to the back of the garage. The lot is oversized. House is located convenient to Corning, Riverside + Painted Post.

ⓘ 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: $3,188 · $266/mo
• Projected year-2 tax: $3,188 · $266/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: $21,866
• − Mortgage interest: −$8,117
• − Property taxes: −$3,188
• − Insurance: −$724
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − Depreciation: −$4,215
• Taxable income: $2,123
• Est. tax owed @ 24.0%: −$510
• After-tax cash flow: $3,734/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

-9.4% since first listed

4 events — show timeline

• 2026-05-11 Pending — UNYREIS
• 2026-04-21 Price Changed $144,900 UNYREIS
• 2026-04-13 Price Changed $154,900 UNYREIS
• 2026-03-02 Listed $159,900 UNYREIS

Property tax history

+4.5%/yr

Latest (2025): $3,188 · -2.4% YoY. Source: county tax records.