3 3rd St · Canisteo, NY 14823

$89,900

2 bd · 1.5 ba · 1,152 sqft · SingleFamily public records · 158 Days on market

Built 1860 5,676 sqft lot Est $111k · 19% under ↓ 18% 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 +19.1/30.0
• ARV discount +15.0/15.0
• Appreciation +9.1/10.0
• 1% rule +6.2/10.0
• DSCR +6.0/10.0
• Schools +4.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this well maintained 2-bedroom, 1.5-bathroom, 1,152 sqft home located on a quiet street in the heart of Canisteo, NY. Enjoy the perfect blend of comfort and convenience with many recent updates throughout, all at an affordable price. Inside, an open concept living/dining room combo provides a great entertaining space. This provides access to the updated kitchen with plenty of storage and main floor half bath. Upstairs, a landing leads to the two bedrooms and full bath. Outside, relax on the inviting front porch or take advantage of the fully fenced-in yard—ideal for pets, play, or gardening. The property also includes a 1-car detached garage and long driveway offer off stre

Key facts

• Inviting front porch
• Updated kitchen
• Fully fenced in yard

Tags

• UPDATED KITCHEN
• FULLY FENCED IN YARD
• INVITING FRONT PORCH
• SHORT DRIVE TO AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#556 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D, amenities F, commute 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: 28 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 $8k of equity ($622 loan paydown + $7k appreciation (8.2% 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 (8.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1860 — 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. 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: 1.12% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.56%
• DSCR: 1.20
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $110,592
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Greenwood St	0.27mi	2/2.0	1,246 (+8%)	9mo	$180,900	$145	65
32 Chestnut St	0.20mi	3/1.0 (+1)	1,222 (+6%)	12mo	$145,000	$119	64
33 3rd St	0.18mi	3/1.5 (+1)	1,248 (+8%)	12mo	$120,000	$96	62
34 4th St	0.24mi	3/1.0 (+1)	1,304 (+13%)	1mo	$176,000	$135	59
107 Greenwood St	0.66mi	2/1.0	1,064 (-8%)	11mo	$90,000	$85	45
8 Glen Ave	0.61mi	2/1.0	1,217 (+6%)	23mo	$97,000	$80	41
23 Pine St	0.35mi	2/1.0	988 (-14%)	24mo	$20,000	$20	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.76×
• Total profit: $44,363
• Equity at exit: $69,544

10-year hold

• IRR: 21.7%
• Equity multiple: 5.94×
• Total profit: $124,368
• Equity at exit: $139,249

Cash invested: $25,172 (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 14823

• Home prices YoY: 2.8%
• Active inventory: 28
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,004 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$188 /mo · $2,259/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $96

Break-even live

Break-even rent $882

Max offer price $89,900

Occupancy floor 85%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-03-06
   status Pending
2. 2026-02-12
   price $89,900
3. 2026-01-06
   price $94,900
4. 2025-10-08
   price $99,500
5. 2025-09-29
   listed $109,900 Active

ⓘ 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: $2,259 · $188/mo
• Projected year-2 tax: $2,259 · $188/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 1/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,044
• − Mortgage interest: −$5,036
• − Property taxes: −$2,259
• − Insurance: −$450
• − Repairs & maintenance: −$964
• − Management: −$964
• − Depreciation: −$2,615
• Taxable loss: −$243
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $1,207/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 — Canisteo

• Score: 68/100
• State rank: #556
• US rank: #9982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canisteo, NY
• Population (ZIP): 3,697

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 (93%)
• Race & ethnicity: White 93% Asian 3% Two or more races 3%
• Common ancestry: Romanian 7% Slovak 4% Iranian 3%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Chinese 2% Spanish 1% German/W. Germanic 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: ▲ 8.20%
• Current HPI: 304.2112
• Rent YoY: —
• Metro: —
• 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

-18.2% since first listed

5 events — show timeline

• 2026-03-06 Pending — UNYREIS
• 2026-02-12 Price Changed $89,900 UNYREIS
• 2026-01-06 Price Changed $94,900 UNYREIS
• 2025-10-08 Price Changed $99,500 UNYREIS
• 2025-09-29 Listed $109,900 UNYREIS

Property tax history

+7.1%/yr

Latest (2025): $2,259 · +0.4% YoY. Source: county tax records.