90 Frank St · Hornell, NY 14843

$74,500

3 bd · 2.0 ba · 2,088 sqft · SingleFamily public records · 44 Days on market

Built 1875 4,011 sqft lot $36/sqft · 54% 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
• 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

Discover the potential of this 4-bed, 2-bath home! Features include a solid foundation, public water and sewer, and central gas heating. Equipped with a fridge, stove, dishwasher, and window cooling units. The basement is unfinished and needs work. The home needs a lot of TLC and cleaning. It is waiting for a fresh coat of paint and offers great potential for new siding. The roof and back door could use some attention.

Key facts

• Stove
• Dishwasher
• Solid foundation

Tags

• SOLID FOUNDATION
• PUBLIC WATER
• CENTRAL GAS HEATING
• FRIDGE
• STOVE
• DISHWASHER

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water available and connected; Sewer connected
• Home design: 2-story house; Resale property; Wood siding
• Construction: Wood siding construction; Existing structure
• Exterior features: See remarks for exterior features

Interior

• Kitchen: Dishwasher; Refrigerator; Water heater; See remarks
• Flooring: Carpet; Hardwood; Laminate; Varied flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas forced air heating; Window air conditioning units
• Interior features: Partial basement; See remarks for additional interior details

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $72k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.5% 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($515 loan paydown + $3k 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, 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 44 days — a 3% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago 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.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,265 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.17% ✓
• Cap rate: 18.51%
• Cash-on-cash: 43.64%
• DSCR: 2.94
• GRM: 3.8

CMA / ARV

• ARV (median comp): $161,468
• List price: $74,500
• Delta: -53.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22 Fulton St	0.16mi	4/2.0 (+1)	1,976 (-5%)	3mo	$91,500	$46	76
56 Sawyer St	0.23mi	3/2.0	1,960 (-6%)	11mo	$149,900	$76	70
48 Church St	0.08mi	4/1.5 (+1)	1,978 (-5%)	16mo	$75,657	$38	67
16 Adsit Pl	0.25mi	4/1.5 (+1)	2,060 (-1%)	15mo	$150,000	$73	67
17 Adsit Pl	0.24mi	4/1.5 (+1)	2,320 (+11%)	6mo	$85,000	$37	58
157 Dennis Ave	0.38mi	4/2.5 (+1)	1,948 (-7%)	8mo	$270,000	$139	58
114 Genesee St	0.37mi	4/1.0 (+1)	2,054 (-2%)	18mo	$65,000	$32	56
332 Seneca Rd	0.73mi	3/2.0	2,046 (-2%)	11mo	$250,000	$122	54
45 Jane St	0.56mi	4/2.5 (+1)	2,212 (+6%)	8mo	$185,000	$84	51
82 N Main St	0.56mi	3/2.0	1,938 (-7%)	18mo	$29,000	$15	47
67 Oak St	0.68mi	3/1.5	1,822 (-13%)	12mo	$50,000	$27	35
44 Spruce St	0.71mi	4/2.5 (+1)	1,799 (-14%)	5mo	$170,000	$94	33

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: 50.3%
• Equity multiple: 3.93×
• Total profit: $61,123
• Equity at exit: $37,545

10-year hold

• IRR: 49.1%
• Equity multiple: 7.97×
• Total profit: $145,406
• Equity at exit: $61,228

Cash invested: $20,860 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,615 high
• Mortgage (P&I): −$391
• Tax from tax record: −$95 /mo · $1,145/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $759

Break-even live

Break-even rent $655

Max offer price $74,500

Occupancy floor 48%

Sensitivity live

Price	-10% $801	-5% $780	+0% $759	+5% $738	+10% $716
Rent	-10% $631	-5% $695	+0% $759	+5% $822	+10% $886
Rate	-1.0pp $796	-0.5pp $778	base $759	+0.5pp $739	+1.0pp $720

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: $18,625
• Closing costs: $2,235
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Willow Pl Hornell, NY	4.0	2.0	1726	$2,000	$1.16	44d	1	0.05mi
54 Bemis Ave Hornell, NY	2.0	1.0	1801	$1,300	$0.72	44d	1	0.20mi
21 Armory Pl Hornell, NY	2.0	1.0	2074	$1,200	$0.58	44d	1	0.21mi
15 Hakes Ave Unit 102 Hornell, NY	4.0	2.0	2000	$2,195	$1.10	44d	1	0.27mi
58 Elm St Hornell, NY	4.0	2.0	1600	$2,495	$1.56	44d	1	0.50mi

Listing history 19 events

1. 2026-06-19
   days on market $74,500 Active 44 DOM
2. 2026-06-18
   days on market $74,500 Active 43 DOM
3. 2026-06-17
   days on market $74,500 Active 42 DOM
4. 2026-06-16
   days on market $74,500 Active 41 DOM
5. 2026-06-15
   days on market $74,500 Active 40 DOM
6. 2026-06-14
   days on market $74,500 Active 38 DOM
7. 2026-06-12
   days on market $74,500 Active 37 DOM
8. 2026-06-09
   days on market $74,500 Active 34 DOM
9. 2026-06-08
   days on market $74,500 Active 33 DOM
10. 2026-06-07
    days on market $74,500 Active 32 DOM
11. 2026-06-07
    days on market $74,500 Active 31 DOM
12. 2026-06-03
    days on market $74,500 Active 28 DOM
13. 2026-06-02
    days on market $74,500 Active 27 DOM
14. 2026-06-01
    days on market $74,500 Active 26 DOM
15. 2026-05-31
    days on market $74,500 Active 25 DOM
16. 2026-05-30
    days on market $74,500 Active 24 DOM
17. 2026-05-06
    listed $74,500 Active 425-char remark
18. 2018-08-20
    historical
19. 2017-08-11
    listed $49,900

ⓘ 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: $1,145 · $95/mo
• Projected year-2 tax: $1,202 · $100/mo
• Expected delta: +$57/yr (+$5/mo · 5.0%)

ⓘ 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 2/10 Low
• 🌡 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: $19,378
• − Mortgage interest: −$4,173
• − Property taxes: −$1,145
• − Insurance: −$372
• − Repairs & maintenance: −$1,550
• − Management: −$1,550
• − Depreciation: −$2,167
• Taxable income: $8,420
• Est. tax owed @ 24.0%: −$2,021
• After-tax cash flow: $7,083/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

+49.3% since first listed

3 events — show timeline

• 2026-05-06 Listed $74,500 WNYREIS
• 2018-08-20 Listing Removed — UNYREIS
• 2017-08-11 Listed $49,900 UNYREIS

Property tax history

-2.4%/yr

Latest (2025): $1,145 · -0.4% YoY. Source: county tax records.