259 Sunset Dr · Corning, NY 14830

$120,000

5 bd · 2.0 ba · 2,743 sqft · MultiFamily public records · 56 Days on market

Built 1900 Fair condition 3,570 sqft lot $44/sqft · 44% below area Est $216k · 44% under

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Why this score? — see what drove the A- 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
• Schools +5.9/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This is 3 parcels one is 21x90 main with house is 42x85 and the last one is 21x7 Great income potential with this 2 unit upper and lower. Upper unit has 2 bedrooms and 1 bath, lower unit has 3 bedrooms and 2 full baths. Both units have laundry hookups. This is 3 separate parcels/tax map numbers giving you a nice yard on both sides of your house. One side is fenced in and the other side is partially fenced in. 2 storage sheds, one with a deck for outside activities or gatherings. Close to downtown Corning. Did I mention that it has off Street parking?

Key facts

• Income potential
• Off street parking
• Fenced yard

Tags

• INCOME POTENTIAL
• LAUNDRY HOOKUPS
• FENCED YARD
• STORAGE SHEDS
• OFF STREET PARKING
• CLOSE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 1×2bd/1.5ba + 1×3bd/2ba units multifamily listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $869/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.7% vs local median 6.6% 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.
• Zoned schools: Frederick Carder Elementary School (math 44% / reading 50%, grade D-, #1,195 of 2,108 statewide, top 60%, 406 students, 39% 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: 171 active listings in the ZIP; 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 $830 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $50k; list at $120k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.85% ✓
• Cap rate: 23.68%
• Cash-on-cash: 62.10%
• DSCR: 3.76
• GRM: 2.9

CMA / ARV

• ARV (median comp): $216,079
• List price: $120,000
• Delta: -44.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
148 W 3rd St	0.37mi	5/3.0	2,740 (-0%)	4mo	$149,485	$55	76
86 W Second St	0.43mi	5/2.0	2,374 (-14%)	3mo	$256,000	$108	55
225 W First St	0.11mi	4/2.0 (-1)	2,250 (-18%)	12mo	$153,608	$68	55
123 Bridge St	0.54mi	6/3.0 (+1)	2,720 (-1%)	20mo	$200,000	$74	48
263 Sly Ave	0.89mi	4/2.0 (-1)	2,216 (-19%)	11mo	$185,000	$83	26

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: 61.1%
• Equity multiple: 3.72×
• Total profit: $91,428
• Equity at exit: $17,892

10-year hold

• IRR: 65.7%
• Equity multiple: 7.63×
• Total profit: $222,747
• Equity at exit: $10,375

Cash invested: $33,600 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 3 under contract
• Months of supply: 3.0 mo (33%/mo absorbed)
• Median asking: $205,000 ($79/sqft)
• Median days on market: 8 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -0.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14830

• Active inventory: 171
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $3,416 high
• Mortgage (P&I): −$629
• Tax from tax record: −$281 /mo · $3,367/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$717
• Net cashflow: $1,739

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$1,647
1× unit	3	2	$1,769
Total (2 units)			$3,416

Break-even live

Break-even rent $1,215

Max offer price $120,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,807	-5% $1,773	+0% $1,739	+5% $1,705	+10% $1,671
Rent	-10% $1,469	-5% $1,604	+0% $1,739	+5% $1,874	+10% $2,009
Rate	-1.0pp $1,799	-0.5pp $1,769	base $1,739	+0.5pp $1,708	+1.0pp $1,676

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: $30,000
• Closing costs: $3,600
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
291 Sunset Dr Unit 101 Corning, NY	2.0	1.0	853	$1,150	$1.35	5d	1	0.07mi
211 W 2nd St Corning, NY	2.0	1.0	792	$950	$1.20	2d	1	0.20mi
237 W 3rd St Unit 201 Corning, NY	2.0	1.0	2076	$1,550	$0.75	5d	1	0.26mi
125 W Market St Corning, NY	1.0	1.0	1026	$1,600	$1.56	139d	1	0.28mi
137 Field St Corning, NY	3.0	1.0	—	$1,420	—	1d	2	0.38mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,295	$1.15	139d	3	0.38mi
107 W Pulteney St Apt 203 Corning, NY	2.0	1.0	500	$945	$1.89	139d	1	0.45mi
262 Washington St Unit Upper Corning, NY	1.0	1.0	1930	$950	$0.49	139d	1	0.47mi
29 E Pulteney St Corning, NY	1.0	1.0	—	$875	—	139d	1	0.52mi
147 Pine St Corning, NY	3.0	1.0–3.0	—	$2,750	—	1d	1	0.55mi
201 Pine St Unit 102 Corning, NY	2.0	2.0	11558	$2,000	$0.17	5d	1	0.60mi
84 Gorton St Corning, NY	2.0	1.0	1909	$975	$0.51	1d	1	0.66mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	139d	1	0.70mi
17 E 5th St Corning, NY	3.0	2.0	1027	$1,600	$1.56	5d	1	0.73mi
90 E Market St Unit 2 Corning, NY	2.0	1.0	1044	$2,000	$1.92	5d	1	0.74mi
197 Fuller Ave Corning, NY	1.0	1.0	600	$900	$1.50	1d	1	0.88mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	139d	1	0.90mi
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	1d	1	0.94mi
265 Denison Pkwy E Corning, NY	1.0–2.0	1.0	910	$1,495	$1.64	1d	1	1.15mi
311 Denison Pkwy E Unit 201 Corning, NY	1.0	1.0	920	$1,350	$1.47	139d	1	1.23mi
311 E Market Street Ext #201 Corning, NY	1.0	1.0	1458	$1,100	$0.75	5d	1	1.23mi
327 Diatreta Ln #101 Corning, NY	1.0	1.0	600	$895	$1.49	139d	1	1.27mi
215 Conhocton St Corning, NY	2.0	1.0	1248	$1,550	$1.24	5d	1	1.33mi

Property features AI

Finance

• Financial info: Operating expenses include water/sewerOwner pays grounds care and water; tenants pay all utilities; some rents include gardener and water

Exterior

• Parking: Concrete parkingOn-street parkingTwo or more parking spaces
• Utilities: Electricity connectedHigh-speed internet availablePublic water connectedSewer connected
• Home design: Two-story buildingExisting construction
• Construction: Vinyl sidingAsphalt shingle roofStone foundationBelow-grade finished area (basement) approximately 795
• Exterior features: DeckEnclosed porchPorchPartial fencingRectangular lot (42 x 85)Main thoroughfare frontage

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: 2-unit property (number of bedrooms per unit not provided)
• Flooring: CarpetVinylVaries
• Bathrooms: Three full bathrooms (total)
• Heating & cooling: Gas heatingMultiple heating unitsRadiant heatWall furnace
• Interior features: Cathedral ceilingsFinished walk-out basementOne fireplace
• Laundry & utility: Two separate gas metersTwo separate electric meters

Listing history 50 events

1. 2026-09-23
   days on market $120,000 Active 56 DOM
2. 2026-09-20
   days on market $120,000 Active 53 DOM
3. 2026-09-18
   days on market $120,000 Active 51 DOM
4. 2026-09-17
   days on market $120,000 Active 50 DOM
5. 2026-09-16
   days on market $120,000 Active 49 DOM
6. 2026-09-15
   days on market $120,000 Active 48 DOM
7. 2026-09-14
   days on market $120,000 Active 47 DOM
8. 2026-09-13
   days on market $120,000 Active 46 DOM
9. 2026-09-12
   days on market $120,000 Active 45 DOM
10. 2026-09-11
    days on market $120,000 Active 44 DOM
11. 2026-09-05
    days on market $120,000 Active 38 DOM
12. 2026-09-04
    days on market $120,000 Active 37 DOM
13. 2026-09-03
    days on market $120,000 Active 36 DOM
14. 2026-09-02
    days on market $120,000 Active 35 DOM
15. 2026-08-30
    days on market $120,000 Active 32 DOM
16. 2026-08-29
    days on market $120,000 Active 31 DOM
17. 2026-08-28
    days on market $120,000 Active 30 DOM
18. 2026-08-27
    days on market $120,000 Active 29 DOM
19. 2026-08-26
    days on market $120,000 Active 28 DOM
20. 2026-08-25
    days on market $120,000 Active 27 DOM
21. 2026-08-24
    days on market $120,000 Active 26 DOM
22. 2026-08-23
    days on market $120,000 Active 25 DOM
23. 2026-08-22
    days on market $120,000 Active 24 DOM
24. 2026-08-21
    days on market $120,000 Active 23 DOM
25. 2026-08-20
    days on market $120,000 Active 22 DOM
26. 2026-08-19
    days on market $120,000 Active 21 DOM
27. 2026-08-18
    days on market $120,000 Active 20 DOM
28. 2026-08-17
    days on market $120,000 Active 19 DOM
29. 2026-08-16
    days on market $120,000 Active 18 DOM
30. 2026-08-15
    days on market $120,000 Active 17 DOM
31. 2026-08-14
    days on market $120,000 Active 16 DOM
32. 2026-08-13
    days on market $120,000 Active 15 DOM
33. 2026-08-12
    days on market $120,000 Active 14 DOM
34. 2026-08-11
    days on market $120,000 Active 13 DOM
35. 2026-08-10
    days on market $120,000 Active 12 DOM
36. 2026-08-09
    days on market $120,000 Active 11 DOM
37. 2026-08-08
    days on market $120,000 Active 10 DOM
38. 2026-08-07
    days on market $120,000 Active 9 DOM
39. 2026-08-06
    days on market $120,000 Active 8 DOM
40. 2026-08-05
    days on market $120,000 Active 7 DOM
41. 2026-08-04
    days on market $120,000 Active 6 DOM
42. 2026-08-03
    days on market $120,000 Active 5 DOM
43. 2026-07-31
    days on market $120,000 Active 2 DOM
44. 2026-07-30
    remarks 558-char remark
45. 2026-07-30
    pricedays on marketlisting id $120,000 Active 1 DOM
46. 2026-07-27
    days on market $150,000 Active 89 DOM
47. 2026-07-25
    days on market $150,000 Active 87 DOM
48. 2026-07-23
    days on market $150,000 Active 85 DOM
49. 2026-07-22
    days on market $150,000 Active 84 DOM
50. 2026-07-21
    days on market $150,000 Active 83 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: $3,367 · $281/mo
• Projected year-2 tax: $3,367 · $281/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 7 d/yr ≥93°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $40,992
• − Mortgage interest: −$6,722
• − Property taxes: −$3,367
• − Insurance: −$600
• − Repairs & maintenance: −$3,279
• − Management: −$3,279
• − Depreciation: −$3,491
• Taxable income: $20,253
• Est. tax owed @ 24.0%: −$4,861
• After-tax cash flow: $16,004/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $68,575–$123,435 screening

This multi-family property requires significant exterior repairs and maintenance, including roof replacement and siding repair, to improve its condition and value.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $20,500–$62,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Major Windows (windows) — Some windows appear to be broken or missing.
• Major Exterior (exterior) — The siding is peeling and there are visible signs of wear.

Repairs flagged

• Major roof — Signs of significant wear
• Major siding — Weathered and peeling
• Major fencing — Old and in need of repair

Value-add opportunities

• Both Landscaping and fencing repairs — Enhances curb appeal and property value ↑
• Both Roof replacement — Critical to the structural integrity and safety of the property ↑
• Both Siding repair or replacement — Improves the home's appearance and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 59/100

Zoned Schools

Elementary Frederick Carder Elementary School D- NY #1,195/2,108 Nat'l #14,504/41,679 Middle Corning-Painted Post Middle School F NY #480/729 Nat'l #7,460/14,009 High Corning-Painted Post High School A+ NY #82/1,100 Nat'l #115/17,239

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

A Composite livability gradescore 87/100

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 · 93,062 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: 5% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Financial info: Operating expenses include water/sewerOwner pays grounds care and water; tenants pay all utilities; some rents include gardener and water

Exterior

• Parking: Concrete parkingOn-street parkingTwo or more parking spaces
• Utilities: Electricity connectedHigh-speed internet availablePublic water connectedSewer connected
• Home design: Two-story buildingExisting construction
• Construction: Vinyl sidingAsphalt shingle roofStone foundationBelow-grade finished area (basement) approximately 795
• Exterior features: DeckEnclosed porchPorchPartial fencingRectangular lot (42 x 85)Main thoroughfare frontage

Interior

• Kitchen: Gas water heater (appliance listed)
• Bedrooms: 2-unit property (number of bedrooms per unit not provided)
• Flooring: CarpetVinylVaries
• Bathrooms: Three full bathrooms (total)
• Heating & cooling: Gas heatingMultiple heating unitsRadiant heatWall furnace
• Interior features: Cathedral ceilingsFinished walk-out basementOne fireplace
• Laundry & utility: Two separate gas metersTwo separate electric meters

Price history

+140.0% since first listed

4 events — show timeline

• 2026-07-29 Listed $120,000 UNYREIS
• 2026-07-28 Listing Removed — UNYREIS
• 2026-04-28 Listed $150,000 UNYREIS
• 2010-08-12 Sold (Public Records) $50,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $3,367 · -1.9% YoY. Source: county tax records.