419 William St · Elmira, NY 14901

$89,900

100 bd · None ba · 8,896 sqft · MultiFamily public records · 343 Days on market

Built 1932 3,665 sqft lot $10/sqft · 61% below area Est $173k · 48% under ↓ 35% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investor special in Elmira! This 10-unit property is ready for someone with vision and hustle. Zoned mixed-use, it’s a rare find with huge potential for both residential and commercial income. Yes, it needs some love but the numbers make sense, and the return on investment could be a game changer. Whether you’re flipping, holding, or redeveloping, this one’s worth a look.

Key facts

• Zoned mixed use
• 10 unit property
• 3,665 sq ft lot

Tags

• 10 UNIT PROPERTY
• ZONED MIXED USE

What this means for you Summary

Snapshot

• This is a 10 × 1-bed/1-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $9k ($103k/yr) — positive. Per door: $862/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 121.4% vs local median 10.1% in Elmira — 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 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: 79 active listings in the ZIP; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k 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 $25k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 343 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 343 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 13.28% ✓
• Cap rate: 121.36%
• Cash-on-cash: 410.94%
• DSCR: 19.28
• GRM: 0.6

CMA / ARV

• ARV (median comp): $173,278
• List price: $89,900
• Delta: -48.12%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 24.77×
• Total profit: $598,276
• Equity at exit: $80,989

10-year hold

• IRR: —
• Equity multiple: 53.86×
• Total profit: $1,330,668
• Equity at exit: $174,656

Cash invested: $25,172 (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: 79
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $11,937 high
• Mortgage (P&I): −$471
• Tax from tax record: −$301 /mo · $3,615/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,507
• Net cashflow: $8,620

Break-even live

Break-even rent $1,026

Max offer price $89,900

Occupancy floor 23%

Sensitivity live

Price	-10% $8,671	-5% $8,646	+0% $8,620	+5% $8,595	+10% $8,569
Rent	-10% $7,677	-5% $8,149	+0% $8,620	+5% $9,092	+10% $9,563
Rate	-1.0pp $8,665	-0.5pp $8,643	base $8,620	+0.5pp $8,597	+1.0pp $8,573

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	1	1	$11,940
Total (10 units)			$11,937

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $89,900 Active 343 DOM
2. 2026-06-18
   days on market $89,900 Active 342 DOM
3. 2026-06-17
   days on market $89,900 Active 341 DOM
4. 2026-06-16
   days on market $89,900 Active 340 DOM
5. 2026-06-15
   days on market $89,900 Active 339 DOM
6. 2026-06-14
   days on market $89,900 Active 337 DOM
7. 2026-06-12
   days on market $89,900 Active 336 DOM
8. 2026-06-09
   days on market $89,900 Active 333 DOM
9. 2026-06-08
   days on market $89,900 Active 332 DOM
10. 2026-06-07
    days on market $89,900 Active 331 DOM
11. 2026-06-05
    days on market $89,900 Active 328 DOM
12. 2026-06-03
    days on market $89,900 Active 327 DOM
13. 2026-06-02
    days on market $89,900 Active 326 DOM
14. 2026-06-01
    days on market $89,900 Active 325 DOM
15. 2026-05-31
    days on market $89,900 Active 324 DOM
16. 2026-05-30
    days on market $89,900 Active 323 DOM
17. 2025-08-29
    price $89,900 392-char remark

    Show marketing remark (392 chars)

    Investor special in Elmira! This 10-unit property is ready for someone with vision and hustle. Zoned mixed-use, it’s a rare find with huge potential for both residential and commercial income. Yes, it needs some love but the numbers make sense, and the return on investment could be a game changer. Whether you’re flipping, holding, or redeveloping, this one’s worth a look.

18. 2025-07-11
    listed $100,000 Active 392-char remark

    Show marketing remark (392 chars)

    Investor special in Elmira! This 10-unit property is ready for someone with vision and hustle. Zoned mixed-use, it’s a rare find with huge potential for both residential and commercial income. Yes, it needs some love but the numbers make sense, and the return on investment could be a game changer. Whether you’re flipping, holding, or redeveloping, this one’s worth a look.

19. 2008-12-23
    historical
20. 2008-08-05
    listed $122,000
21. 2007-02-27
    soldstatus $138,900

ⓘ 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: $3,615 · $301/mo
• Projected year-2 tax: $3,615 · $301/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 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% 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: $143,244
• − Mortgage interest: −$5,036
• − Property taxes: −$3,615
• − Insurance: −$450
• − Repairs & maintenance: −$11,460
• − Management: −$11,460
• − Depreciation: −$2,615
• Taxable income: $108,609
• Est. tax owed @ 24.0%: −$26,066
• After-tax cash flow: $77,375/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

-35.3% since first listed

5 events — show timeline

• 2025-08-29 Price Changed $89,900 UNYREIS
• 2025-07-11 Listed $100,000 UNYREIS
• 2008-12-23 Listing Removed — UNYREIS
• 2008-08-05 Listed $122,000 UNYREIS
• 2007-02-27 Sold (Public Records) $138,900 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,615 · -15.4% YoY. Source: county tax records.