69 W 3rd St · Corning, NY 14830

$115,000

3 bd · 2.5 ba · 1,457 sqft · SingleFamily public records · 97 Days on market

Built 1880 5,775 sqft lot $79/sqft · 37% below area Est $183k · 37% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Spacious and affordable just four blocks to Market Street in Corning NY. This versatile home features four bedrooms and 2 full baths, with the potential for up to six bedrooms, making it ideal for a growing household, guests, hobbies or home office. A large welcoming foyer greets you as you enter and sets the tone for the generous layout throughout the home. Enjoy the convenience of a first floor laundry room and easy floor maintenance with a combination of ceramic tile and laminate flooring, perfect for busy lifestyles. With space, flexibility and an excellent location close to the city offering convenience to shopping, dining and everything downtown has to offer.

Key facts

• 5,775 sq ft lot
• Built 1880
• Listed 96 days

Tags

• FIRST FLOOR LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $789 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 8.0% in Corning — 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 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; 6 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).
• This rent runs 33% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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.
• Current owner paid $27k; list at $115k implies a 326% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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: 1.76% ✓
• Cap rate: 14.52%
• Cash-on-cash: 29.40%
• DSCR: 2.31
• GRM: 4.7

CMA / ARV

• ARV (median comp): $182,881
• List price: $115,000
• Delta: -37.12%
• 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
240 W 3rd St	0.36mi	3/1.5	1,498 (+3%)	1mo	$140,000	$93	73
225 Second St W	0.34mi	3/1.5	1,474 (+1%)	8mo	$210,000	$142	72
131 W Fifth St	0.19mi	3/1.5	1,398 (-4%)	12mo	$175,000	$125	70
249 Sunset Dr	0.44mi	3/2.5	1,480 (+2%)	13mo	$216,500	$146	66
201 W 1st St	0.33mi	2/1.5 (-1)	1,323 (-9%)	1mo	$145,500	$110	59
75 W First St	0.16mi	3/1.5	1,296 (-11%)	17mo	$145,000	$112	56
385 Sunset Dr	0.72mi	3/1.0	1,474 (+1%)	7mo	$170,000	$115	53
273 E Third St	0.75mi	3/1.5	1,452 (-0%)	12mo	$150,000	$103	50
165 Upper Delevan Ave	0.58mi	3/1.5	1,518 (+4%)	16mo	$195,000	$128	49
156 Watauga Ave	0.55mi	3/1.0	1,268 (-13%)	1mo	$181,000	$143	46
183 Columbia St	0.68mi	3/2.0	1,586 (+9%)	12mo	$132,000	$83	42
272 E Second St	0.74mi	4/2.0 (+1)	1,334 (-8%)	14mo	$190,000	$142	32

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: 23.9%
• Equity multiple: 1.98×
• Total profit: $31,645
• Equity at exit: $17,147

10-year hold

• IRR: 31.8%
• Equity multiple: 3.87×
• Total profit: $92,407
• Equity at exit: $9,943

Cash invested: $32,200 (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: 4.7×

Monthly cashflow live

• Estimated rent: $2,021 high
• Mortgage (P&I): −$603
• Tax from tax record: −$157 /mo · $1,886/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $789

Break-even live

Break-even rent $1,023

Max offer price $115,000

Occupancy floor 56%

Sensitivity live

Price	-10% $854	-5% $821	+0% $789	+5% $756	+10% $724
Rent	-10% $629	-5% $709	+0% $789	+5% $869	+10% $949
Rate	-1.0pp $847	-0.5pp $818	base $789	+0.5pp $759	+1.0pp $729

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 E Market St Unit 2 Corning, NY	2.0	1.0	1044	$2,200	$2.11	44d	1	0.45mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	44d	1	0.58mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	44d	3	0.78mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	44d	1	0.82mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	44d	1	1.16mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	44d	1	1.31mi

Listing history 21 events

1. 2026-06-19
   days on market $115,000 Active 97 DOM
2. 2026-06-18
   days on market $115,000 Active 96 DOM
3. 2026-06-17
   days on market $115,000 Active 95 DOM
4. 2026-06-16
   days on market $115,000 Active 94 DOM
5. 2026-06-15
   days on market $115,000 Active 93 DOM
6. 2026-06-14
   days on market $115,000 Active 91 DOM
7. 2026-06-12
   days on market $115,000 Active 90 DOM
8. 2026-06-09
   days on market $115,000 Active 87 DOM
9. 2026-06-08
   days on market $115,000 Active 86 DOM
10. 2026-06-07
    days on market $115,000 Active 85 DOM
11. 2026-06-05
    days on market $115,000 Active 82 DOM
12. 2026-06-03
    days on market $115,000 Active 81 DOM
13. 2026-06-02
    days on market $115,000 Active 80 DOM
14. 2026-06-01
    days on market $115,000 Active 79 DOM
15. 2026-05-31
    days on market $115,000 Active 78 DOM
16. 2026-05-30
    days on market $115,000 Active 77 DOM
17. 2026-04-24
    price $115,000 673-char remark

    Show marketing remark (673 chars)

    Spacious and affordable just four blocks to Market Street in Corning NY. This versatile home features four bedrooms and 2 full baths, with the potential for up to six bedrooms, making it ideal for a growing household, guests, hobbies or home office. A large welcoming foyer greets you as you enter and sets the tone for the generous layout throughout the home. Enjoy the convenience of a first floor laundry room and easy floor maintenance with a combination of ceramic tile and laminate flooring, perfect for busy lifestyles. With space, flexibility and an excellent location close to the city offering convenience to shopping, dining and everything downtown has to offer.

18. 2026-03-14
    listed $120,000 Active 673-char remark

    Show marketing remark (673 chars)

    Spacious and affordable just four blocks to Market Street in Corning NY. This versatile home features four bedrooms and 2 full baths, with the potential for up to six bedrooms, making it ideal for a growing household, guests, hobbies or home office. A large welcoming foyer greets you as you enter and sets the tone for the generous layout throughout the home. Enjoy the convenience of a first floor laundry room and easy floor maintenance with a combination of ceramic tile and laminate flooring, perfect for busy lifestyles. With space, flexibility and an excellent location close to the city offering convenience to shopping, dining and everything downtown has to offer.

19. 2015-01-08
    soldstatus $27,000 155-char remark

    Show marketing remark (155 chars)

    Southside Hill - a diamond in the rough. Within walking distance to downwtown Historic Market Street. Matured lot. Great deck & enclosed front porch.

20. 2014-07-18
    listed $32,000 155-char remark

    Show marketing remark (155 chars)

    Southside Hill - a diamond in the rough. Within walking distance to downwtown Historic Market Street. Matured lot. Great deck & enclosed front porch.

21. 2009-11-19
    soldstatus $49,500

ⓘ 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: $1,886 · $157/mo
• Projected year-2 tax: $1,915 · $160/mo
• Expected delta: +$29/yr (+$2/mo · 1.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥93°F today · 15 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: $24,258
• − Mortgage interest: −$6,442
• − Property taxes: −$1,886
• − Insurance: −$575
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − Depreciation: −$3,345
• Taxable income: $8,129
• Est. tax owed @ 24.0%: −$1,951
• After-tax cash flow: $7,515/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

+132.3% since first listed

5 events — show timeline

• 2026-04-24 Price Changed $115,000 UNYREIS
• 2026-03-14 Listed $120,000 UNYREIS
• 2015-01-08 Sold (MLS) $27,000 UNYREIS
• 2014-07-18 Listed $32,000 UNYREIS
• 2009-11-19 Sold (Public Records) $49,500 Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,886 · -1.9% YoY. Source: county tax records.