303 Wall St · West Elmira, NY 14905

$120,000

2 bd · 1.0 ba · 835 sqft · SingleFamily public records · 165 Days on market

Built 1930 7,575 sqft lot $144/sqft · 11% below area Est $135k · 11% under

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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 +19.7/30.0
• ARV discount +12.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely cottage home set in West Elmira. Two bedroom, one bath with full outdoor security cameras. Hardwood in all the rooms and there is a back open concrete floor patio, and a walk-in attic with lots of storage. Full basement with poured concrete walls & floors. this home is an estate sale and being sold as is. Please come take a look.

Key facts

• Full basement
• Walk-in attic
• 7,575 sq ft lot

Tags

• OUTDOOR SECURITY CAMERAS
• BACK OPEN CONCRETE FLOOR PATIO
• WALK-IN ATTIC
• FULL BASEMENT
• POURED CONCRETE WALLS
• POURED CONCRETE FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/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 $117k (2.6% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.6% in West 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 72/100 on livability (#341 in NY) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: amenities F, commute 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: 39 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $830 of loan paydown is wiped out by about $4k 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

• It's been on market 165 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 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 $40k; list at $120k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.69%
• Cash-on-cash: 5.00%
• DSCR: 1.22
• GRM: 8.6

CMA / ARV

• ARV (median comp): $135,088
• List price: $120,000
• Delta: -11.17%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
978 Winsor Ter	0.25mi	2/1.0	864 (+4%)	16mo	$115,000	$133	69
86 Westmont Ave	0.65mi	3/1.0 (+1)	960 (+15%)	11mo	$150,000	$156	31

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: -8.5%
• Equity multiple: 0.69×
• Total profit: $-10,545
• Equity at exit: $17,892

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $2,249
• Equity at exit: $10,375

Cash invested: $33,600 (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 14905

• Home prices YoY: -9.4%
• Active inventory: 39
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,168 high
• Mortgage (P&I): −$629
• Tax from tax record: −$104 /mo · $1,246/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $140

Break-even live

Break-even rent $991

Max offer price $120,000

Occupancy floor 83%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Winsor Ave Elmira, NY	1.0	1.0	800	$1,200	$1.50	44d	1	0.40mi
711 W Water St Unit 1 Elmira, NY	2.0	1.0	590	$1,100	$1.86	44d	1	0.54mi
418 W Church St Apt 2 Elmira, NY	1.0	1.0	600	$800	$1.33	44d	1	0.97mi
970 Scio St Elmira, NY	2.0	1.0	911	$1,200	$1.32	44d	1	1.07mi
363 W Water St #2 Elmira, NY	3.0	1.0	1084	$1,250	$1.15	44d	1	1.12mi
550 Spruce St Unit 202 Elmira, NY	1.0	1.0	850	$1,150	$1.35	44d	1	1.12mi
419 Jefferson St Unit A Elmira, NY	2.0	2.0	1100	$1,995	$1.81	44d	1	1.26mi
800 Broadway St Elmira, NY	1.0	1.0	700	$900	$1.29	44d	1	1.37mi
1056 Walnut St Unit 4 Elmira, NY	1.0	1.0	750	$995	$1.33	44d	1	1.39mi

Listing history 5 events

1. 2026-03-04
   status Active 344-char remark

   Show marketing remark (344 chars)

   Lovely cottage home set in West Elmira. Two bedroom, one bath with full outdoor security cameras. Hardwood in all the rooms and there is a back open concrete floor patio, and a walk-in attic with lots of storage. Full basement with poured concrete walls & floors. this home is an estate sale and being sold as is. Please come take a look.

2. 2026-02-26
   status Pending 344-char remark

   Show marketing remark (344 chars)

   Lovely cottage home set in West Elmira. Two bedroom, one bath with full outdoor security cameras. Hardwood in all the rooms and there is a back open concrete floor patio, and a walk-in attic with lots of storage. Full basement with poured concrete walls & floors. this home is an estate sale and being sold as is. Please come take a look.

3. 2026-01-12
   price $120,000 344-char remark

   Show marketing remark (344 chars)

   Lovely cottage home set in West Elmira. Two bedroom, one bath with full outdoor security cameras. Hardwood in all the rooms and there is a back open concrete floor patio, and a walk-in attic with lots of storage. Full basement with poured concrete walls & floors. this home is an estate sale and being sold as is. Please come take a look.

4. 2025-12-09
   listed $125,000 Active 344-char remark

   Show marketing remark (344 chars)

   Lovely cottage home set in West Elmira. Two bedroom, one bath with full outdoor security cameras. Hardwood in all the rooms and there is a back open concrete floor patio, and a walk-in attic with lots of storage. Full basement with poured concrete walls & floors. this home is an estate sale and being sold as is. Please come take a look.

5. 1996-07-01
   soldstatus $40,000

ⓘ 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: $1,246 · $104/mo
• Projected year-2 tax: $1,637 · $136/mo
• Expected delta: +$391/yr (+$33/mo · 31.4%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 8 d/yr ≥97°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 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: $14,021
• − Mortgage interest: −$6,722
• − Property taxes: −$1,246
• − Insurance: −$600
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$3,491
• Taxable loss: −$281
• Est. tax savings @ 24.0%: +$68
• After-tax cash flow: $1,746/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 — West Elmira

• Score: 72/100
• State rank: #341
• US rank: #5769

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Elmira, NY
• City population: 8,976
• Population (ZIP): 8,976

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 (82%)
• Race & ethnicity: White 82% Two or more races 7% Black 7% Hispanic / Latino 3% Asian 3%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 2% Chinese 1% Russian/Polish/Slavic 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: ▼ -26.09%
• Current HPI: 252.0326
• 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

+200.0% since first listed

5 events — show timeline

• 2026-03-04 Relisted — UNYREIS
• 2026-02-26 Pending — UNYREIS
• 2026-01-12 Price Changed $120,000 UNYREIS
• 2025-12-09 Listed $125,000 UNYREIS
• 1996-07-01 Sold (Public Records) $40,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,246 · +10.1% YoY. Source: county tax records.