87 E 2nd St · Corning, NY 14830

$199,900

4 bd · 1.5 ba · 1,612 sqft · SingleFamily public records · 1 Days on market

Built 1862 2,625 sqft lot $124/sqft · 8% above area Est $184k · 8% over

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• ARV discount +3.7/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4-bedroom, 1.5-bath home in Corning with many recent updates. Improvements include a newer roof (2024), updated electrical, (2024) central air (2025), garbage disposal (2024), stove (2024) dehumidifier (2025), renovated downstairs bedroom closet (2025) vinyl fencing (2024), dryer (2025), complete inspection of furnace (2025), and a partially renovated kitchen (2025). The home offers spacious living areas, comfortable bedrooms, and plenty of natural light throughout. A warm and inviting space with room to add your personal touches. Conveniently located near shopping, dining, and local amenities. A great opportunity for buyers looking for space, updates, and value. Showings start 3/12 @ 10am. Delayed negotiations until 3/19 @ 6pm.

Key facts

• Updated electrical
• Garbage disposal
• Newer roof

Tags

• NEWER ROOF
• UPDATED ELECTRICAL
• CENTRAL AIR
• GARBAGE DISPOSAL
• STOVE
• DEHUMIDIFIER

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $640 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Cap rate 10.1% vs local median 8.0% in Corning — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 87/100 on livability (#14 in NY, #334 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: employment D.
• Corning City School District (town): math 44% / reading 53% proficiency, ranked #406 of 590 in NY (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 106 active listings in the ZIP; 4 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; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Steuben County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 22y 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.
• Current owner paid $125k; list at $200k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1862 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1862 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.29% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.71%
• DSCR: 1.61
• GRM: 6.4

CMA / ARV

• ARV (median comp): $184,390
• List price: $199,900
• Delta: 8.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 E Second St	0.05mi	3/2.0 (-1)	1,769 (+10%)	8mo	$132,000	$75	68
183 Columbia St	0.34mi	3/2.0 (-1)	1,586 (-2%)	12mo	$132,000	$83	65
325 E 3rd St	0.52mi	4/2.0	1,500 (-7%)	8mo	$185,000	$123	56
239 W 1st St	0.70mi	3/2.0 (-1)	1,680 (+4%)	4mo	$170,000	$101	50
241 Walnut St	0.38mi	3/1.5 (-1)	1,822 (+13%)	8mo	$85,000	$47	49
240 W 3rd St	0.71mi	3/1.5 (-1)	1,498 (-7%)	1mo	$140,000	$93	49
10 Corning Blvd	0.55mi	4/2.5	1,804 (+12%)	5mo	$245,000	$136	46
234 W 3rd St	0.70mi	3/1.5 (-1)	1,754 (+9%)	5mo	$145,000	$83	43
174 North Pl	0.73mi	3/1.0 (-1)	1,545 (-4%)	10mo	$199,000	$129	43
225 Second St W	0.67mi	3/1.5 (-1)	1,474 (-9%)	8mo	$210,000	$142	43
110 W 5th St	0.51mi	3/2.0 (-1)	1,805 (+12%)	9mo	$303,000	$168	42
385 Watauga Avenue Ext	0.67mi	4/1.5	1,798 (+12%)	10mo	$115,000	$64	41

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $8,402
• Equity at exit: $29,806

10-year hold

• IRR: 13.4%
• Equity multiple: 2.07×
• Total profit: $59,987
• Equity at exit: $17,284

Cash invested: $55,972 (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 14830

• Active inventory: 106
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,583 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$269 /mo · $3,233/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $640

Break-even live

Break-even rent $1,773

Max offer price $199,900

Occupancy floor 70%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
171 E 1st St Corning, NY	3.0	2.5	1569	$3,352	$2.14	43d	1	0.22mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	43d	3	1.11mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	43d	1	1.38mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	43d	1	1.46mi

Listing history 29 events

1. 2026-06-19
   days on marketlisting id $199,900 Active 1 DOM
2. 2026-06-17
   days on market $199,900 Active 99 DOM
3. 2026-06-16
   days on market $199,900 Active 98 DOM
4. 2026-06-15
   days on market $199,900 Active 97 DOM
5. 2026-06-14
   days on market $199,900 Active 95 DOM
6. 2026-06-12
   days on market $199,900 Active 94 DOM
7. 2026-06-09
   days on market $199,900 Active 91 DOM
8. 2026-06-08
   days on market $199,900 Active 90 DOM
9. 2026-06-07
   days on market $199,900 Active 89 DOM
10. 2026-06-05
    days on market $199,900 Active 86 DOM
11. 2026-06-03
    days on market $199,900 Active 85 DOM
12. 2026-06-02
    days on market $199,900 Active 84 DOM
13. 2026-06-01
    days on market $199,900 Active 83 DOM
14. 2026-05-31
    days on market $199,900 Active 82 DOM
15. 2026-05-30
    days on market $199,900 Active 81 DOM
16. 2026-04-13
    price $199,900 747-char remark

    Show marketing remark (747 chars)

    Charming 4-bedroom, 1.5-bath home in Corning with many recent updates. Improvements include a newer roof (2024), updated electrical, (2024) central air (2025), garbage disposal (2024), stove (2024) dehumidifier (2025), renovated downstairs bedroom closet (2025) vinyl fencing (2024), dryer (2025), complete inspection of furnace (2025), and a partially renovated kitchen (2025). The home offers spacious living areas, comfortable bedrooms, and plenty of natural light throughout. A warm and inviting space with room to add your personal touches. Conveniently located near shopping, dining, and local amenities. A great opportunity for buyers looking for space, updates, and value. Showings start 3/12 @ 10am. Delayed negotiations until 3/19 @ 6pm.

17. 2026-03-19
    price $204,900 747-char remark

    Show marketing remark (747 chars)

    Charming 4-bedroom, 1.5-bath home in Corning with many recent updates. Improvements include a newer roof (2024), updated electrical, (2024) central air (2025), garbage disposal (2024), stove (2024) dehumidifier (2025), renovated downstairs bedroom closet (2025) vinyl fencing (2024), dryer (2025), complete inspection of furnace (2025), and a partially renovated kitchen (2025). The home offers spacious living areas, comfortable bedrooms, and plenty of natural light throughout. A warm and inviting space with room to add your personal touches. Conveniently located near shopping, dining, and local amenities. A great opportunity for buyers looking for space, updates, and value. Showings start 3/12 @ 10am. Delayed negotiations until 3/19 @ 6pm.

18. 2026-03-10
    listed $210,000 Active 747-char remark

    Show marketing remark (747 chars)

    Charming 4-bedroom, 1.5-bath home in Corning with many recent updates. Improvements include a newer roof (2024), updated electrical, (2024) central air (2025), garbage disposal (2024), stove (2024) dehumidifier (2025), renovated downstairs bedroom closet (2025) vinyl fencing (2024), dryer (2025), complete inspection of furnace (2025), and a partially renovated kitchen (2025). The home offers spacious living areas, comfortable bedrooms, and plenty of natural light throughout. A warm and inviting space with room to add your personal touches. Conveniently located near shopping, dining, and local amenities. A great opportunity for buyers looking for space, updates, and value. Showings start 3/12 @ 10am. Delayed negotiations until 3/19 @ 6pm.

19. 2024-09-20
    soldstatus $125,000
20. 2024-09-16
    soldstatus $125,000 556-char remark

    Show marketing remark (556 chars)

    2 DAY BREAK CLAUSE (SALE CONTINGENCY): This spacious four bedroom one and a half bath house is move-in ready. Main floor has a great layout with open dining/kitchen area and also convenient bedroom or office with an updated half bath. A beautiful wood staircase leads you upstairs where the original hardwood floors have been refinished. Full bath with ceramic tile flooring. Walk up attic has great storage space. Newer furnace and hot water tank. Exterior recently painted. Small yard is easy to manage. Great location close to Corning's Gaffer District.

21. 2024-05-28
    listed $139,000 556-char remark

    Show marketing remark (556 chars)

    2 DAY BREAK CLAUSE (SALE CONTINGENCY): This spacious four bedroom one and a half bath house is move-in ready. Main floor has a great layout with open dining/kitchen area and also convenient bedroom or office with an updated half bath. A beautiful wood staircase leads you upstairs where the original hardwood floors have been refinished. Full bath with ceramic tile flooring. Walk up attic has great storage space. Newer furnace and hot water tank. Exterior recently painted. Small yard is easy to manage. Great location close to Corning's Gaffer District.

22. 2013-08-26
    historical
23. 2013-02-10
    listed $94,900
24. 2005-07-25
    soldstatus $49,900
25. 2005-07-21
    soldstatus $49,900
26. 2005-04-06
    listed $55,000
27. 2004-10-26
    soldstatus $55,900
28. 2004-10-05
    soldstatus $55,900
29. 2004-05-24
    listed $55,900

ⓘ 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: $3,233 · $269/mo
• Projected year-2 tax: $3,305 · $275/mo
• Expected delta: +$73/yr (+$6/mo · 2.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 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: $30,998
• − Mortgage interest: −$11,198
• − Property taxes: −$3,233
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,480
• − Management: −$2,480
• − Depreciation: −$5,815
• Taxable income: $4,793
• Est. tax owed @ 24.0%: −$1,150
• After-tax cash flow: $6,526/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: Corning City School District
• NCES district ID: 3608400
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 53% ▲ 4.00%
• Median HH income: $53,042
• Composite: 41.8/100
• National rank: #3392
• State rank: #406 of 590 in NY

Livability — Corning

• Score: 87/100
• State rank: #14
• US rank: #334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corning, NY
• County: Steuben County · 41,193 people
• City population: 19,015
• Metro: Corning, NY
• Population (ZIP): 19,015
• Household income: $73,263
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 565.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 3% Black 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Russian/Polish/Slavic 1% Spanish 1% Other Asian/Pacific 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: ▼ -94.59%
• Current HPI: 173.9857
• 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

+257.6% since first listed

14 events — show timeline

• 2026-04-13 Price Changed $199,900 UNYREIS
• 2026-03-19 Price Changed $204,900 UNYREIS
• 2026-03-10 Listed $210,000 UNYREIS
• 2024-09-20 Sold (Public Records) $125,000 Public Records
• 2024-09-16 Sold (MLS) $125,000 UNYREIS
• 2024-05-28 Listed $139,000 UNYREIS
• 2013-08-26 Listing Removed — UNYREIS
• 2013-02-10 Listed $94,900 UNYREIS
• 2005-07-25 Sold (Public Records) $49,900 Public Records
• 2005-07-21 Sold (MLS) $49,900 UNYREIS
• 2005-04-06 Listed $55,000 UNYREIS
• 2004-10-26 Sold (Public Records) $55,900 Public Records
• 2004-10-05 Sold (MLS) $55,900 UNYREIS
• 2004-05-24 Listed $55,900 UNYREIS

Property tax history

+3.0%/yr

Latest (2025): $3,233 · +27.9% YoY. Source: county tax records.