259 Sunset Dr · Corning, NY 14830

$150,000

5 bd · 2.0 ba · 2,743 sqft · MultiFamily public records · 51 Days on market

Built 1900 3,570 sqft lot $55/sqft · 39% below area Est $247k · 39% 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

Multi-family units

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

Listing remarks

Very nice 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
• Separate parcels
• Off street parking

Tags

• INCOME POTENTIAL
• LAUNDRY HOOKUPS
• SEPARATE PARCELS
• FENCED YARD
• STORAGE SHEDS
• OFF STREET PARKING

Property features AI

Finance

• Financial info: Two total units with separate gas and electric meters; Operating expense notes reference remarks; Owner pays grounds care and water; tenants pay all utilities; some rents include gardener and water

Exterior

• Parking: Concrete parking; On-street parking available; Two or more parking spaces
• Utilities: Electricity connected; Public water connected; Sewer connected; High-speed internet available
• Home design: Two-story building; Vinyl siding; Asphalt shingle roof; Existing (resale) property; Stone foundation; Below-grade finished area (basement) present
• Construction: Vinyl siding construction; Asphalt shingle roof; Stone foundation; Built as existing structure
• Exterior features: Deck; Enclosed porch; Open porch; Partial fencing; Rectangular lot; Main thoroughfare frontage

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator; Eat-in kitchen / Dining area with kitchen (depending on unit)
• Bedrooms: Two-unit property: one unit has 3 bedrooms, the other unit has 2 bedrooms
• Flooring: Carpet; Vinyl; Varies
• Bathrooms: Three full bathrooms total across both units (Unit 1: 2 full; Unit 2: 1 full)
• Heating & cooling: Gas heating; Multiple heating units; Radiant heating; Wall furnace
• Interior features: Cathedral ceilings; Finished walk-out basement; One fireplace
• Laundry & utility: In-unit laundry (at least in one unit); Gas water heater

What this means for you Summary

Snapshot

• This is a 1×2bd/1.5ba + 1×3bd/2ba units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $804/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.2% 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; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• At $3,466/mo this rent would consume 57% of the median local household income ($73k/yr) (locally 565% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $150k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.31% ✓
• Cap rate: 19.16%
• Cash-on-cash: 45.95%
• DSCR: 3.04
• GRM: 3.6

CMA / ARV

• ARV (median comp): $246,702
• List price: $150,000
• Delta: -39.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 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%)	1mo	$149,485	$55	78
123 Bridge St	0.54mi	6/3.0 (+1)	2,720 (-1%)	17mo	$200,000	$74	50
234-236 Chestnut St	0.51mi	6/2.0 (+1)	2,690 (-2%)	22mo	$163,000	$61	50
134 Bridge St	0.55mi	4/4.0 (-1)	2,644 (-4%)	22mo	$202,000	$76	37

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: 43.2%
• Equity multiple: 2.86×
• Total profit: $78,244
• Equity at exit: $22,365

10-year hold

• IRR: 49.3%
• Equity multiple: 5.77×
• Total profit: $200,488
• Equity at exit: $12,969

Cash invested: $42,000 (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: 7.6×

Monthly cashflow live

• Estimated rent: $3,466 high
• Mortgage (P&I): −$787
• Tax from tax record: −$281 /mo · $3,367/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$728
• Net cashflow: $1,608

Break-even live

Break-even rent $1,430

Max offer price $150,000

Occupancy floor 49%

Sensitivity live

Price	-10% $1,693	-5% $1,651	+0% $1,608	+5% $1,566	+10% $1,524
Rent	-10% $1,335	-5% $1,472	+0% $1,608	+5% $1,745	+10% $1,882
Rate	-1.0pp $1,684	-0.5pp $1,647	base $1,608	+0.5pp $1,570	+1.0pp $1,530

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

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$1,637
1× unit	3	2	$1,829
Total (2 units)			$3,466

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $150,000 Active 51 DOM
2. 2026-06-18
   days on market $150,000 Active 50 DOM
3. 2026-06-17
   days on market $150,000 Active 49 DOM
4. 2026-06-16
   days on market $150,000 Active 48 DOM
5. 2026-06-15
   days on market $150,000 Active 47 DOM
6. 2026-06-14
   days on market $150,000 Active 45 DOM
7. 2026-06-12
   days on market $150,000 Active 44 DOM
8. 2026-06-09
   days on market $150,000 Active 41 DOM
9. 2026-06-08
   days on market $150,000 Active 40 DOM
10. 2026-06-07
    days on market $150,000 Active 39 DOM
11. 2026-06-05
    days on market $150,000 Active 36 DOM
12. 2026-06-03
    days on market $150,000 Active 35 DOM
13. 2026-06-02
    days on market $150,000 Active 34 DOM
14. 2026-06-01
    days on market $150,000 Active 33 DOM
15. 2026-05-31
    days on market $150,000 Active 32 DOM
16. 2026-05-30
    days on market $150,000 Active 31 DOM
17. 2026-04-28
    listed $150,000 Active 479-char remark
18. 2010-08-12
    soldstatus $50,000

ⓘ 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 3/10 Moderate
• 🌡 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: $41,592
• − Mortgage interest: −$8,402
• − Property taxes: −$3,367
• − Insurance: −$750
• − Repairs & maintenance: −$3,327
• − Management: −$3,327
• − Depreciation: −$4,364
• Taxable income: $18,054
• Est. tax owed @ 24.0%: −$4,333
• After-tax cash flow: $14,968/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

+200.0% since first listed

2 events — show timeline

• 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.