1190 County Route 66 #33 · Hornell, NY 14843

$69,900

2 bd · 2.0 ba · 1,242 sqft · Manufactured public records · 16 Days on market

Built 2004 Good condition

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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
• Appreciation +7.0/10.0
• Schools +5.2/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0

Listing remarks

Check out this beautifully updated 2004 Skyline double-wide home! Currently set up as a two-bedroom, this home could easily be converted back into a three-bedroom layout with a spacious primary suite. You’re going to love the many updates throughout, including a newer roof installed just one year ago and beautiful new flooring in the kitchen and dining areas. The kitchen is sure to impress with its updated cabinetry, stainless steel appliances, and tasteful design that flows perfectly with the home’s warm and inviting décor. A carport provides protection for your vehicle, adding extra convenience year-round. Located in a wonderful community with a great location close to

Key facts

• Newer roof
• Carport
• Updated cabinetry

Tags

• UPDATED CABINETRY
• STAINLESS STEEL APPLIANCES
• NEWER ROOF
• SPACIOUS PRIMARY SUITE
• CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 12.6% in Hornell — 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 70/100 on livability (#451 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, schools D, crime F.
• Arkport Central School District (town): math 59% / reading 65% proficiency, ranked #223 of 590 in NY (top 38%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 61 active listings in the ZIP; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($483 loan paydown + $3k appreciation (4.0% local appreciation)).
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 2.00% ✓
• Cap rate: 16.50%
• Cash-on-cash: 36.46%
• DSCR: 2.62
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.95% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.5%
• Equity multiple: 3.55×
• Total profit: $49,905
• Equity at exit: $35,227

10-year hold

• IRR: 42.4%
• Equity multiple: 7.15×
• Total profit: $120,398
• Equity at exit: $57,448

Cash invested: $19,572 (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 14843

• Home prices YoY: 1.9%
• Active inventory: 61
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,398 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$114 /mo · $1,372/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $595

Break-even live

Break-even rent $646

Max offer price $69,900

Occupancy floor 52%

Sensitivity live

Price	-10% $634	-5% $614	+0% $595	+5% $575	+10% $555
Rent	-10% $484	-5% $539	+0% $595	+5% $650	+10% $705
Rate	-1.0pp $630	-0.5pp $612	base $595	+0.5pp $577	+1.0pp $558

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-10
   listed $69,900 Active 900-char remark

ⓘ 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: $1,372 · $114/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $16,781
• − Mortgage interest: −$3,915
• − Property taxes: −$1,372
• − Insurance: −$350
• − Repairs & maintenance: −$1,342
• − Management: −$1,342
• − Depreciation: −$2,033
• Taxable income: $6,425
• Est. tax owed @ 24.0%: −$1,542
• After-tax cash flow: $5,594/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 · 1 photo

Good 75/100 Cosmetic rehab

This 2004 Skyline double-wide home is in good condition with recent updates and a well-maintained exterior. It offers a good investment opportunity with potential for further improvements to enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value.
• Both Upgrading window treatments — Improves energy efficiency and enhances curb appeal.
• Rental Adding a small shed or storage unit — Provides additional storage for tenants and enhances curb appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value. ↑
• Both Upgrading window treatments — Improves energy efficiency and enhances curb appeal. ↑
• Rental Adding a small shed or storage unit — Provides additional storage for tenants and enhances curb appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Arkport Central School District
• NCES district ID: 3603240
• Math proficiency: 59% ▲ 4.00%
• Reading proficiency: 65% ▲ 15.00%
• Median HH income: $44,995
• Composite: 52.24/100
• National rank: #1601
• State rank: #223 of 590 in NY

Livability — Hornell

• Score: 70/100
• State rank: #451
• US rank: #7888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Steuben County · 41,193 people
• City population: 12,383
• Metro: Corning, NY
• Population (ZIP): 12,383
• Household income: $57,874
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 415.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Lithuanian 3% Romanian 2% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Arabic 1% Spanish 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: ▲ 3.95%
• Current HPI: 210.1986
• 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

Property tax history

+72.3%/yr

Latest (2025): $1,372 · +6.6% YoY. Source: county tax records.