12 Elmwood Pl · Hornell, NY 14843

$34,900

2 bd · 1.0 ba · 1,143 sqft · SingleFamily public records · 5 Days on market

Built 1925 1,904 sqft lot

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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
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2-bedroom, 1-bath home offering 1,296 sq ft. Property is being sold AS-IS / WHERE-IS with all personal property remaining. Interior access not available. Opportunity for investors or buyers prepared for a full renovation.

Key facts

• 1,904 sq ft lot
• Built 1925
• Listed 4 days

Property features AI

Exterior

• Parking: No garage; No driveway
• Utilities: Public water connected
• Home design: Single-story; Existing structure; Frame construction
• Construction: Stone foundation
• Exterior features: Rectangular residential lot; 36 x 52 lot dimensions; City street frontage

Interior

• Kitchen: Gas water heater
• Bedrooms: Total rooms: 6
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Den; Other features (see remarks); Full basement
• Laundry & utility: Water connected (public)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $781 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 33.2% vs local median 13.3% 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.
• Hornell City School District (town): math 33% / reading 49% proficiency, ranked #519 of 590 in NY (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 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 $2k of equity ($241 loan paydown + $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $18k; list at $35k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,900

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.88% ✓
• Cap rate: 33.16%
• Cash-on-cash: 95.96%
• DSCR: 5.27
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $104,013
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
134 E Elm St	0.22mi	3/1.0 (+1)	1,120 (-2%)	4mo	$57,000	$51	78
12 Elmwood Pl	0.00mi	2/1.0	1,296 (+13%)	3mo	$18,500	$14	75
169 Leach Ave	0.39mi	2/1.0	1,090 (-5%)	1mo	$105,000	$96	73
25 E Main St	0.29mi	3/1.0 (+1)	1,164 (+2%)	8mo	$114,900	$99	72
68 Catherine St	0.48mi	2/1.0	1,166 (+2%)	3mo	$85,000	$73	72
30 Glen Ave	0.39mi	3/1.0 (+1)	1,152 (+1%)	9mo	$105,000	$91	68
48 Bemis Ave	0.32mi	3/1.0 (+1)	1,230 (+8%)	8mo	$55,000	$45	61
5 Blaine St	0.70mi	3/2.0 (+1)	1,142 (-0%)	1mo	$165,000	$144	57
95-97 Hartshorn St	0.62mi	3/1.0 (+1)	1,084 (-5%)	2mo	$99,900	$92	56
175 S Leach Ave	0.41mi	3/1.5 (+1)	1,248 (+9%)	4mo	$22,501	$18	55
19 Oconnor Ave	0.48mi	3/1.5 (+1)	1,216 (+6%)	8mo	$65,000	$53	53
34 School St	0.69mi	3/1.5 (+1)	1,256 (+10%)	7mo	$125,000	$100	39

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

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.71×
• Total profit: $55,804
• Equity at exit: $17,588

10-year hold

• IRR: 99.8%
• Equity multiple: 13.98×
• Total profit: $126,867
• Equity at exit: $28,683

Cash invested: $9,772 (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 14843

• Home prices YoY: 1.9%
• Active inventory: 59
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,355 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$91 /mo · $1,095/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $781

Break-even live

Break-even rent $366

Max offer price $34,900

Occupancy floor 37%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-19
   days on market $34,900 Active 5 DOM
2. 2026-06-18
   days on market $34,900 Active 4 DOM
3. 2026-06-17
   days on market $34,900 Active 3 DOM
4. 2026-06-16
   days on market $34,900 Active 2 DOM
5. 2026-06-15
   remarks 82-char remark
6. 2026-06-15
   listed $34,900 Active 1 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: $1,095 · $91/mo
• Projected year-2 tax: $1,095 · $91/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥92°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,256
• − Mortgage interest: −$1,955
• − Property taxes: −$1,095
• − Insurance: −$174
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$1,015
• Taxable income: $9,416
• Est. tax owed @ 24.0%: −$2,260
• After-tax cash flow: $7,117/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: Hornell City School District
• NCES district ID: 3614820
• Math proficiency: 33% ▼ -8.00%
• Reading proficiency: 49% ▲ 6.00%
• Median HH income: $40,251
• Composite: 34.33/100
• National rank: #5234
• State rank: #519 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

• Census place: Hornell, NY
• 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

Price history

+58.6% since first listed

7 events — show timeline

• 2026-06-14 Listed $34,900 UNYREIS
• 2026-03-13 Sold (MLS) $18,500 UNYREIS
• 2026-01-30 Pending — UNYREIS
• 2026-01-22 Price Changed $45,900 UNYREIS
• 2026-01-02 Listed $51,000 UNYREIS
• 2007-01-18 Sold (Public Records) $32,000 Public Records
• 2003-09-29 Sold (Public Records) $22,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,095 · -0.4% YoY. Source: county tax records.