413 E Washington Ave · Elmira, NY 14901

$134,900

3 bd · 1.5 ba · 1,815 sqft · SingleFamily public records · 59 Days on market

Built 1890 5,170 sqft lot $74/sqft · 118% above area

---

Why this score? — see what drove the C- 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 +15.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Beautifully updated 2-story home just under 2,000 sq ft. , with new flooring, and paint throughout! This spacious home has off street parking, a large backyard, and is completely move in ready. Featuring an enclosed front porch, beautiful woodwork throughout, formal dining area, new appliances, first floor half bath and a large full bath on the second floor. All this house needs is a new owner!

Key facts

• Updated 2 story home
• Off street parking
• Large backyard

Tags

• UPDATED 2 STORY HOME
• OFF STREET PARKING
• LARGE BACKYARD
• ENCLOSED FRONT PORCH
• FORMAL DINING AREA
• NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $65 ($785/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (5.5% below list).
• Recommended offer: $127k (5.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 10.1% in Elmira — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 62/100 on livability (#832 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• 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.
• Market conditions: 78 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d 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

• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (10.0% local appreciation)).
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $46k; list at $135k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,481 (5.5% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F 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?
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: 0.95% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 8.8

CMA / ARV

• ARV (median comp): $61,812
• List price: $134,900
• Delta: 118.24%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
756 Carpenter St	0.20mi	4/2.0 (+1)	1,896 (+4%)	2mo	$105,000	$55	75
918 Magee St	0.50mi	4/1.0 (+1)	1,812 (-0%)	1mo	$112,000	$62	69
957 Oak St	0.11mi	4/1.5 (+1)	1,626 (-10%)	13mo	$54,590	$34	62
960 East Ave	0.63mi	3/1.0	1,753 (-3%)	1mo	$39,999	$23	62
408 Oak St	0.59mi	3/2.0	1,788 (-2%)	8mo	$78,000	$44	61
852 East Ave	0.51mi	4/2.0 (+1)	1,918 (+6%)	1mo	$52,000	$27	59
1230 Lake St	0.49mi	4/1.5 (+1)	1,768 (-3%)	13mo	$124,900	$71	57
1227 Lake St	0.50mi	3/1.5	1,664 (-8%)	11mo	$49,000	$29	54
950 N Main St	0.55mi	4/1.5 (+1)	1,644 (-9%)	7mo	$37,000	$23	48
314 W Washington Ave	0.71mi	4/1.0 (+1)	1,916 (+6%)	12mo	$100,000	$52	41
812 Jay St	0.62mi	3/1.5	1,568 (-14%)	11mo	$34,500	$22	39
1315 Grand Central Ave	0.60mi	4/1.5 (+1)	1,560 (-14%)	15mo	$54,000	$35	32

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.8%
• Equity multiple: 3.06×
• Total profit: $77,662
• Equity at exit: $121,529

10-year hold

• IRR: 22.7%
• Equity multiple: 6.97×
• Total profit: $225,475
• Equity at exit: $262,081

Cash invested: $37,772 (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 14901

• Home prices YoY: 15.9%
• Active inventory: 78
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,275 high
• Mortgage (P&I): −$707
• Tax from tax record: −$178 /mo · $2,136/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $65

Break-even live

Break-even rent $1,192

Max offer price $134,900

Occupancy floor 90%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 W 2nd St Unit A Elmira, NY	3.0	1.0	1395	$1,400	$1.00	44d	1	0.74mi
355 W Clinton St Unit 1 Elmira, NY	3.0	1.5	1650	$1,400	$0.85	44d	1	0.88mi
357 W Clinton St Unit 1 Elmira, NY	2.0	1.5	1650	$1,500	$0.91	44d	1	0.88mi
454 W 2nd St Unit 1 Elmira, NY	2.0	1.0	1400	$1,000	$0.71	44d	1	1.14mi
514 W 1st St Unit A Elmira, NY	4.0	1.0	1416	$1,275	$0.90	44d	1	1.28mi
160 Boardman St Unit B Elmira, NY	2.0	1.0	1727	$800	$0.46	44d	1	1.47mi

Listing history 22 events

1. 2026-06-19
   days on market $134,900 Active 59 DOM
2. 2026-06-18
   days on market $134,900 Active 58 DOM
3. 2026-06-17
   days on market $134,900 Active 57 DOM
4. 2026-06-16
   days on market $134,900 Active 56 DOM
5. 2026-06-15
   days on market $134,900 Active 55 DOM
6. 2026-06-14
   days on market $134,900 Active 53 DOM
7. 2026-06-12
   pricedays on market $134,900 Active 52 DOM
8. 2026-06-09
   days on market $139,900 Active 49 DOM
9. 2026-06-08
   days on market $139,900 Active 48 DOM
10. 2026-06-07
    days on market $139,900 Active 47 DOM
11. 2026-06-05
    days on market $139,900 Active 44 DOM
12. 2026-06-03
    days on market $139,900 Active 43 DOM
13. 2026-06-02
    days on market $139,900 Active 42 DOM
14. 2026-06-01
    days on market $139,900 Active 41 DOM
15. 2026-05-31
    days on market $139,900 Active 40 DOM
16. 2026-05-30
    days on market $139,900 Active 39 DOM
17. 2026-04-20
    listed $139,900 Active 397-char remark

    Show marketing remark (397 chars)

    Beautifully updated 2-story home just under 2,000 sq ft. , with new flooring, and paint throughout! This spacious home has off street parking, a large backyard, and is completely move in ready. Featuring an enclosed front porch, beautiful woodwork throughout, formal dining area, new appliances, first floor half bath and a large full bath on the second floor. All this house needs is a new owner!

18. 2026-04-09
    historical
19. 2025-10-09
    listed $144,900 Active
20. 2023-06-29
    soldstatus $46,000
21. 2023-06-26
    soldstatus $46,000
22. 2023-03-15
    listed $59,900

ⓘ 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: $2,136 · $178/mo
• Projected year-2 tax: $2,208 · $184/mo
• Expected delta: +$72/yr (+$6/mo · 3.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $15,298
• − Mortgage interest: −$7,556
• − Property taxes: −$2,136
• − Insurance: −$674
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$3,924
• Taxable loss: −$1,442
• Est. tax savings @ 24.0%: +$346
• After-tax cash flow: $1,131/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 — Elmira

• Score: 62/100
• State rank: #832
• US rank: #16139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmira, NY
• City population: 14,276
• Population (ZIP): 14,430

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 (70%)
• Race & ethnicity: White 70% Black 15% Two or more races 7% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 4% Slovak 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Russian/Polish/Slavic 1% Chinese 1%

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: ▲ 32.34%
• Current HPI: 236.2674
• 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

+133.6% since first listed

6 events — show timeline

• 2026-04-20 Listed $139,900 UNYREIS
• 2026-04-09 Listing Removed — UNYREIS
• 2025-10-09 Listed $144,900 UNYREIS
• 2023-06-29 Sold (Public Records) $46,000 Public Records
• 2023-06-26 Sold (MLS) $46,000 UNYREIS
• 2023-03-15 Listed $59,900 UNYREIS

Property tax history

+6.8%/yr

Latest (2025): $2,136 · -15.5% YoY. Source: county tax records.