1225 Pennsylvania Ave · Southport, NY 14871

$40,000

3 bd · 1.0 ba · 1,872 sqft · SingleFamily public records · 41 Days on market

Built 1826 0.49 ac lot $21/sqft · 83% below area

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

This historic 1826-built home offers 1,872 sq. ft. of potential on a spacious 0.49-acre lot. Vacant for 10 years, this property is a "blank canvas" restoration project for a savvy investor or contractor. Located in a quiet neighborhood near Broadway Elementary, it features a detached garage and a large, flat yard. Property is being sold strictly AS-IS. Please be advised: the property is currently subject to ongoing foreclosure proceedings, making this a time-sensitive opportunity. This listing is a novation of contract from a third party with the seller's full consent. All inspections are for informational purposes only; no utilities will be turned on. Cash only. Bring your vision

Key facts

• Spacious lot
• Large flat yard
• Historic home

Tags

• HISTORIC HOME
• SPACIOUS LOT
• DETACHED GARAGE
• LARGE FLAT YARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water connected; Sewer connected
• Home design: Two-story existing residence
• Construction: Stone foundation with pillar/post/pier supports; Construction details referenced in remarks
• Exterior features: Dirt driveway; Rectangular lot measuring approximately 144 x 147

Interior

• Kitchen: Water heater (listed under appliances); Additional kitchen details noted in remarks
• Bedrooms: One bedroom on the main level
• Flooring: Hardwood; Varies by room
• Bathrooms: One full bathroom
• Heating & cooling: Heating described in remarks
• Interior features: Hardwood and varied flooring; Bedroom on main level; Walk-out basement access; Additional interior features noted in remarks
• Laundry & utility: Washer/dryer not specified (see remarks)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $735 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.0% vs local median 6.5% in Southport — 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 65/100 on livability (#690 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, employment D, health & safety D.
• 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: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1826 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $38,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1826 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
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 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: 3.38% ✓
• Cap rate: 30.00%
• Cash-on-cash: 84.65%
• DSCR: 4.77
• GRM: 2.5

CMA / ARV

• ARV (median comp): $241,689
• List price: $40,000
• Delta: -83.45%
• 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
1257 Pennsylvania Ave	0.29mi	3/1.0	1,980 (+6%)	8mo	$220,000	$111	70
1003 Sycamore Cir	0.64mi	3/1.0	1,740 (-7%)	2mo	$180,900	$104	57
34 Crestview Dr W	0.42mi	4/1.5 (+1)	1,640 (-12%)	8mo	$160,000	$98	46
1113 Country Ln	0.59mi	3/2.0	1,774 (-5%)	23mo	$231,000	$130	40

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: 88.8%
• Equity multiple: 7.13×
• Total profit: $68,622
• Equity at exit: $36,035

10-year hold

• IRR: 83.5%
• Equity multiple: 15.77×
• Total profit: $165,399
• Equity at exit: $77,711

Cash invested: $11,200 (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 14871

• Home prices YoY: 9.9%
• Active inventory: 25
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $735

Break-even live

Break-even rent $420

Max offer price $40,000

Occupancy floor 41%

Sensitivity live

Price	-10% $762	-5% $748	+0% $735	+5% $721	+10% $707
Rent	-10% $628	-5% $681	+0% $735	+5% $788	+10% $841
Rate	-1.0pp $755	-0.5pp $745	base $735	+0.5pp $724	+1.0pp $714

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
550 Spruce St Unit 303 Elmira, NY	2.0	2.0	1350	$1,350	$1.00	44d	1	1.15mi

Listing history 18 events

1. 2026-06-21
   days on market $40,000 Active 41 DOM
2. 2026-06-19
   days on market $40,000 Active 39 DOM
3. 2026-06-18
   days on market $40,000 Active 38 DOM
4. 2026-06-17
   days on market $40,000 Active 37 DOM
5. 2026-06-16
   days on market $40,000 Active 36 DOM
6. 2026-06-15
   days on market $40,000 Active 35 DOM
7. 2026-06-14
   days on market $40,000 Active 33 DOM
8. 2026-06-12
   days on market $40,000 Active 32 DOM
9. 2026-06-09
   days on market $40,000 Active 29 DOM
10. 2026-06-08
    days on market $40,000 Active 28 DOM
11. 2026-06-07
    days on market $40,000 Active 27 DOM
12. 2026-06-05
    days on market $40,000 Active 24 DOM
13. 2026-06-03
    days on market $40,000 Active 23 DOM
14. 2026-06-02
    days on market $40,000 Active 22 DOM
15. 2026-06-01
    days on market $40,000 Active 21 DOM
16. 2026-05-31
    days on market $40,000 Active 20 DOM
17. 2026-05-30
    days on market $40,000 Active 19 DOM
18. 2026-05-11
    listed $40,000 Active 730-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 17 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: $16,200
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$866
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$1,164
• Taxable income: $8,737
• Est. tax owed @ 24.0%: −$2,097
• After-tax cash flow: $6,717/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 — Southport

• Score: 65/100
• State rank: #690
• US rank: #13026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southport, NY
• Population (ZIP): 4,497

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 (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Romanian 7% Italian 2% Iranian 2%
• Foreign-born: 1% · Canada

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: ▲ 23.69%
• Current HPI: 262.1655
• 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

1 event — show timeline

• 2026-05-11 Listed $40,000 UNYREIS

Property tax history

+12.6%/yr

Latest (2025): $2,354 · -1.5% YoY. Source: county tax records.