613 Yale St · Southport, NY 14904

$34,000

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 66 Days on market

Built 1930 7,850 sqft lot $27/sqft · 72% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special at 613 Yale Street in Elmira! This property has been fully gutted and is ready for your vision. A true blank canvas, offering the chance to design and finish exactly to your specifications. Ideal for investors, flippers, or buyers looking to build equity from the ground up. Situated on a quiet street with convenient access to local amenities, this home has solid potential for the right buyer willing to put in the work. Whether you’re planning a full renovation or a custom rebuild, the heavy lifting of demo has already been done. Bring your ideas and tools—this is an opportunity you don’t want to miss!

Key facts

• Fully gutted
• Quiet street
• Solid potential

Tags

• FULLY GUTTED
• BLANK CANVAS
• QUIET STREET
• CONVENIENT ACCESS
• SOLID POTENTIAL
• FULL RENOVATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $721 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Recommended offer: $32k (6.0% below list) — sets the bar for market timing.
• Cap rate 33.7% vs local median 6.5% in Southport — 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 65/100 on livability (#690 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D, health & safety D, crime D-.
• Elmira City School District (urban): math 23% / reading 35% proficiency, ranked #580 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ernie Davis Academy (math 5% / reading 31%, grade F, #691 of 729 statewide, top 95%, 802 students, 66% FRL).
• Market conditions: 104 active listings in the ZIP; 4 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; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $235 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Chemung County population projected at -17% 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; flood insurance adds $56/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $31,960 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1930 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is D 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?
9. 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.
10. 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.
11. 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: 4.02% ✓
• Cap rate: 33.68%
• Cash-on-cash: 97.83%
• DSCR: 5.35
• GRM: 2.1

CMA / ARV

• ARV (median comp): $120,624
• List price: $34,000
• Delta: -71.81%
• 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
570 Cypress St	0.28mi	3/1.0	1,307 (+5%)	1mo	$127,200	$97	78
825 Broadway St	0.34mi	3/1.0	1,271 (+2%)	5mo	$65,000	$51	77
777 Laurel St	0.19mi	3/1.0	1,152 (-8%)	6mo	$145,000	$126	73
1017 Smith St	0.46mi	3/2.0	1,250 (+0%)	5mo	$132,979	$106	71
320 Soper St	0.56mi	3/1.0	1,270 (+2%)	6mo	$80,000	$63	66
562 Baty St	0.51mi	3/1.0	1,296 (+4%)	5mo	$111,702	$86	66
809 Chamberlain St	0.42mi	4/1.0 (+1)	1,328 (+6%)	5mo	$138,192	$104	60
815 Spruce St	0.25mi	3/1.5	1,402 (+12%)	9mo	$180,000	$128	58
310 Cottage Pl	0.71mi	3/1.0	1,178 (-6%)	6mo	$32,000	$27	52
750 S Main St	0.67mi	2/1.5 (-1)	1,216 (-3%)	6mo	$72,000	$59	52
213 Juanita St	0.73mi	3/1.0	1,320 (+6%)	6mo	$21,000	$16	51
314 Soper St	0.58mi	3/1.0	1,416 (+14%)	8mo	$41,000	$29	43

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: 91.6%
• Equity multiple: 5.25×
• Total profit: $40,480
• Equity at exit: $5,070

10-year hold

• IRR: 94.5%
• Equity multiple: 10.95×
• Total profit: $94,738
• Equity at exit: $2,940

Cash invested: $9,520 (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 14904

• Home prices YoY: -9.6%
• Active inventory: 104
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,368 medium
• Mortgage (P&I): −$178
• Tax from tax record: −$112 /mo · $1,347/yr
• Insurance: −$14
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $721

Break-even live

Break-even rent $456

Max offer price $34,000

Occupancy floor 42%

Sensitivity live

Price	-10% $740	-5% $730	+0% $721	+5% $711	+10% $701
Rent	-10% $612	-5% $666	+0% $721	+5% $775	+10% $829
Rate	-1.0pp $738	-0.5pp $729	base $721	+0.5pp $712	+1.0pp $703

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
235 Allen St Elmira, NY	2.0	1.0	780	$950	$1.22	45d	1	0.45mi
550 Spruce St Unit 303 Elmira, NY	2.0	2.0	1350	$1,350	$1.00	45d	1	0.64mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	45d	1	0.81mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	45d	1	1.49mi

Listing history 21 events

1. 2026-06-21
   days on market $34,000 Active 66 DOM
2. 2026-06-19
   days on market $34,000 Active 64 DOM
3. 2026-06-18
   days on market $34,000 Active 63 DOM
4. 2026-06-17
   days on market $34,000 Active 62 DOM
5. 2026-06-16
   days on market $34,000 Active 61 DOM
6. 2026-06-15
   days on market $34,000 Active 60 DOM
7. 2026-06-14
   days on market $34,000 Active 58 DOM
8. 2026-06-12
   days on market $34,000 Active 57 DOM
9. 2026-06-09
   days on market $34,000 Active 54 DOM
10. 2026-06-08
    days on market $34,000 Active 53 DOM
11. 2026-06-07
    days on market $34,000 Active 52 DOM
12. 2026-06-05
    days on market $34,000 Active 49 DOM
13. 2026-06-03
    days on market $34,000 Active 48 DOM
14. 2026-06-02
    days on market $34,000 Active 47 DOM
15. 2026-06-01
    days on market $34,000 Active 46 DOM
16. 2026-05-31
    days on market $34,000 Active 45 DOM
17. 2026-05-30
    pricedays on market $34,000 Active 44 DOM
18. 2026-05-01
    price $37,500 643-char remark

    Show marketing remark (643 chars)

    Investor special at 613 Yale Street in Elmira! This property has been fully gutted and is ready for your vision. A true blank canvas, offering the chance to design and finish exactly to your specifications. Ideal for investors, flippers, or buyers looking to build equity from the ground up. Situated on a quiet street with convenient access to local amenities, this home has solid potential for the right buyer willing to put in the work. Whether you’re planning a full renovation or a custom rebuild, the heavy lifting of demo has already been done. Bring your ideas and tools—this is an opportunity you don’t want to miss!

19. 2026-04-22
    price $44,000 643-char remark

    Show marketing remark (643 chars)

    Investor special at 613 Yale Street in Elmira! This property has been fully gutted and is ready for your vision. A true blank canvas, offering the chance to design and finish exactly to your specifications. Ideal for investors, flippers, or buyers looking to build equity from the ground up. Situated on a quiet street with convenient access to local amenities, this home has solid potential for the right buyer willing to put in the work. Whether you’re planning a full renovation or a custom rebuild, the heavy lifting of demo has already been done. Bring your ideas and tools—this is an opportunity you don’t want to miss!

20. 2026-04-15
    listed $50,000 Active 643-char remark

    Show marketing remark (643 chars)

    Investor special at 613 Yale Street in Elmira! This property has been fully gutted and is ready for your vision. A true blank canvas, offering the chance to design and finish exactly to your specifications. Ideal for investors, flippers, or buyers looking to build equity from the ground up. Situated on a quiet street with convenient access to local amenities, this home has solid potential for the right buyer willing to put in the work. Whether you’re planning a full renovation or a custom rebuild, the heavy lifting of demo has already been done. Bring your ideas and tools—this is an opportunity you don’t want to miss!

21. 1990-08-14
    soldstatus $29,500

ⓘ 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: $1,347 · $112/mo
• Projected year-2 tax: $1,347 · $112/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 8/10 Severe FEMA zone X (shaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $16,418
• − Mortgage interest: −$1,905
• − Property taxes: −$1,347
• − Insurance: −$836
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$989
• Taxable income: $8,713
• Est. tax owed @ 24.0%: −$2,091
• After-tax cash flow: $6,555/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: Elmira City School District
• NCES district ID: 3610560
• Math proficiency: 23% ▼ -7.00%
• Reading proficiency: 35% ▲ 7.00%
• Median HH income: $40,180
• Composite: 24.39/100
• National rank: #7688
• State rank: #580 of 590 in NY

Livability — Southport

• Score: 65/100
• State rank: #690
• US rank: #13026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southport, NY
• Population (ZIP): 14,276

Population outlook (Chemung County) Hauer SSP2

• Today (2025): 82,931 people
• By 2030: 80,356 · -3.1%
• By 2040: 74,745 · -9.9%
• By 2050: 69,012 · -16.8%
• By 2075: 55,689 · -32.8%
• By 2100: 41,428 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 7% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica, Dominican Republic
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Chemung

• 2024 margin: R (+16.8) · D 41.6% · R 58.4%
• 2008→2024 swing: -15.6pp toward R · 2008: -1.2pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+13.4 2016: R+20.0 2012: R+2.9 2008: R+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.33%
• Current HPI: 220.688
• 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

+27.1% since first listed

4 events — show timeline

• 2026-05-01 Price Changed $37,500 UNYREIS
• 2026-04-22 Price Changed $44,000 UNYREIS
• 2026-04-15 Listed $50,000 UNYREIS
• 1990-08-14 Sold (Public Records) $29,500 Public Records

Property tax history

-2.3%/yr

Latest (2025): $1,347 · +3.3% YoY. Source: county tax records.