216 Stuart St · Horseheads North, NY 14845

$159,900

3 bd · 1.5 ba · 1,000 sqft · SingleFamily public records · 5 Days on market

Built 1951 0.46 ac lot Est $152k · 5% over

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Why this score? — see what drove the D 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 +14.4/30.0
• ARV discount +5.2/15.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• DSCR +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this well-maintained 3-bedroom, 1.5-bath ranch located in the Town of Horseheads! This move-in-ready home offers comfortable one-floor living with three bedrooms, a spacious living room, an eat-in kitchen, and a full bathroom on the main level. The spacious basement provides an abundance of space and is currently used as a large recreation room, featuring plenty of built-in storage and a convenient half bath. Whether you're looking for space to entertain, relax, or work from home, this lower level offers endless possibilities. Outside, you'll find a beautifully manicured, flat yard perfect for outdoor activities and gatherings. Enjoy summer evenings on the back patio, ideal

Key facts

• Built in storage
• Half bath
• Eat in kitchen

Tags

• ONE FLOOR LIVING
• SPACIOUS LIVING ROOM
• EAT IN KITCHEN
• LARGE RECREATION ROOM
• BUILT IN STORAGE
• HALF BATH

Property features AI

Exterior

• Parking: Attached garage; 1 garage space
• Utilities: Well water; Sewer connected; Electricity connected (circuit breakers); High-speed internet available; Cable available
• Home design: Single-story home; Resale property; Shingle roof; Vinyl siding; Poured foundation
• Construction: Vinyl siding construction; Shingle roof; Poured foundation; Year built: existing
• Exterior features: Blacktop driveway; Rectangular residential lot (100 x 200)

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Hardwood; Vinyl; Varies
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Gas forced-air heating
• Interior features: Eat-in kitchen; Bedroom on main level; Full, partially finished basement; 7 total rooms
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $32 ($386/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 $159k (0.6% below list).
• Recommended offer: $159k (0.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#670 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, employment A-; Watch: health & safety D, amenities F, commute F.
• Horseheads Central School District (suburban): math 44% / reading 58% proficiency, ranked #347 of 590 in NY (top 59%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ridge Road School (math 42% / reading 72%, grade C+, #842 of 2,108 statewide, top 43%, 400 students, 34% FRL); Horseheads Middle School (math 29% / reading 50%, grade F, #418 of 729 statewide, top 59%, 572 students, 36% FRL); Horseheads Senior High School (math 95% / reading 98%, grade A+, #59 of 1,100 statewide, top 6%, 1,142 students, 27% FRL).
• Zoned-school proficiency averages 64% at this address vs 51% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Horseheads Central School District average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 92 active listings in the ZIP; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,911 (0.6% below list)

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.99% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $152,000
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24 Ridge Rd	0.68mi	3/1.0	1,086 (+9%)	1mo	$165,000	$152	51

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-23,764
• Equity at exit: $23,842

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-17,660
• Equity at exit: $13,825

Cash invested: $44,772 (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 14845

• Home prices YoY: -24.9%
• Active inventory: 92
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,589 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$318 /mo · $3,817/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $32

Break-even live

Break-even rent $1,548

Max offer price $159,900

Occupancy floor 93%

Sensitivity live

Price	-10% $123	-5% $77	+0% $32	+5% $-13	+10% $-58
Rent	-10% $-93	-5% $-31	+0% $32	+5% $95	+10% $158
Rate	-1.0pp $113	-0.5pp $73	base $32	+0.5pp $-9	+1.0pp $-51

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-07
   statusdays on market $159,900 Pending 5 DOM
2. 2026-06-05
   days on market $159,900 Active 3 DOM
3. 2026-06-03
   days on market $159,900 Active 2 DOM
4. 2026-06-02
   remarks 699-char remark
5. 2026-06-02
   listed $159,900 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: $3,817 · $318/mo
• Projected year-2 tax: $3,817 · $318/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,069
• − Mortgage interest: −$8,957
• − Property taxes: −$3,817
• − Insurance: −$800
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$4,652
• Taxable loss: −$2,206
• Est. tax savings @ 24.0%: +$530
• After-tax cash flow: $916/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: Horseheads Central School District
• NCES district ID: 3614850
• Math proficiency: 44% ▼ -19.00%
• Reading proficiency: 58% ▲ 3.00%
• Median HH income: $60,594
• Composite: 44.58/100
• National rank: #2781
• State rank: #347 of 590 in NY

Livability — Horseheads North

• Score: 65/100
• State rank: #670
• US rank: #12555

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Horseheads North, NY
• Population (ZIP): 20,552

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Asian 2% Hispanic / Latino 2% Black 2%
• Common ancestry: Romanian 6% Slovak 2% Iranian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1% Other Indo-European 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: ▼ -82.23%
• Current HPI: 247.777
• 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

• 2026-06-01 Listed $159,900 UNYREIS

Property tax history

+9.6%/yr

Latest (2025): $3,817 · +11.8% YoY. Source: county tax records.