321 Jerome St · Painted Post, NY 14870

$75,000

4 bd · 2.0 ba · 1,722 sqft · SingleFamily public records · 6 Days on market

Built 1900 7,201 sqft lot

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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
• Schools +4.2/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for an affordable home in Painted Post? This well-maintained three-bedroom, two-and-a-half-bath home is set on a quiet side street in the Village. Inside, the family room offers comfortable living space with good natural light. The eat-in kitchen provides ample room for everyday use, with appliances included. A separate dining room with multiple windows adds flexibility for meals or gatherings. A full bath is also conveniently located on the first floor. Upstairs, the primary bedroom includes an ensuite bath. Two additional bedrooms and a half bath complete the second floor. The half bath is already equipped with power, water, and drain lines, offering potential for a shower, bathtu

Key facts

• Multiple windows
• Enclosed back porch
• Newer roof

Tags

• AMPLE ROOM FOR EVERYDAY USE
• MULTIPLE WINDOWS
• CONVENIENTLY LOCATED
• NEWER ROOF
• ENCLOSED BACK PORCH
• CARPORT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).

Location & tenants

• Location reads 75/100 on livability (#255 in NY, #4,036 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, commute F.
• 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: Rents soft (-1.4%/yr); 44 active listings in the ZIP; 5 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; solid renter incomes; 196 units permitted in Steuben County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 2.38% ✓
• Cap rate: 20.58%
• Cash-on-cash: 51.01%
• DSCR: 3.27
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $198,030
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
369 Delaware Ave	0.13mi	3/1.5 (-1)	1,768 (+3%)	1mo	$217,000	$123	82
229 Norwood St	0.15mi	3/2.0 (-1)	1,608 (-7%)	0mo	$180,000	$112	76
312 Bronson St	0.09mi	3/1.5 (-1)	1,683 (-2%)	17mo	$135,000	$80	71
326 N Hamilton St	0.23mi	3/1.5 (-1)	1,824 (+6%)	7mo	$220,000	$121	67
204 E High St	0.13mi	3/1.5 (-1)	1,876 (+9%)	9mo	$135,000	$72	65
139 Steuben St	0.42mi	4/2.5	1,910 (+11%)	1mo	$249,000	$130	59
220 Rand Ave	0.52mi	3/2.0 (-1)	1,656 (-4%)	9mo	$240,000	$145	56
325 Jerome St	0.01mi	3/1.5 (-1)	1,500 (-13%)	18mo	$111,702	$74	56
229 Cutler Ave	0.58mi	3/1.5 (-1)	1,822 (+6%)	5mo	$179,000	$98	52
464 Pine St	0.67mi	3/1.5 (-1)	1,724 (+0%)	12mo	$200,000	$116	51
515 Park Pl	0.73mi	3/1.5 (-1)	1,656 (-4%)	8mo	$177,000	$107	46
174 Fuller Ave	0.69mi	3/1.0 (-1)	1,568 (-9%)	7mo	$180,000	$115	38

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 45.4%
• Equity multiple: 2.88×
• Total profit: $39,496
• Equity at exit: $11,183

10-year hold

• IRR: 49.9%
• Equity multiple: 5.17×
• Total profit: $87,486
• Equity at exit: $6,485

Cash invested: $21,000 (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 14870

• Home prices YoY: -28.8%
• Rents YoY: -1.4%
• Active inventory: 44
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,786 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $893

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 45%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
459 Brainard Pl Painted Post, NY	3.0	1.0	1090	$1,500	$1.38	43d	1	0.67mi
209 Oneida Pl Corning, NY	3.0	1.5	1200	$2,000	$1.67	43d	1	0.81mi
247 Princeton Ave Corning, NY	3.0	1.0	1504	$1,500	$1.00	43d	1	0.99mi
137 Field St Corning, NY	2.0–3.0	1.0	1125	$1,345	$1.20	43d	3	1.12mi
12 Pondview Ct Painted Post, NY	3.0	1.0–2.0	948	$1,890	$1.99	43d	27	1.38mi

Listing history 6 events

1. 2026-04-26
   status Pending
2. 2026-04-20
   listed $75,000 Active
3. 2011-12-24
   historical
4. 2011-06-24
   listed $64,900
5. 2004-10-22
   historical
6. 2004-07-26
   listed $51,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 8 d/yr ≥95°F today · 18 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: $21,433
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,715
• − Management: −$1,715
• − Depreciation: −$2,182
• Taxable income: $10,121
• Est. tax owed @ 24.0%: −$2,429
• After-tax cash flow: $8,283/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 — Painted Post

• Score: 75/100
• State rank: #255
• US rank: #4036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Painted Post, NY
• County: Steuben County · 41,193 people
• City population: 9,795
• Metro: Corning, NY
• Population (ZIP): 9,795
• Household income: $84,476
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 289.0

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 (84%)
• Race & ethnicity: White 84% Asian 8% Two or more races 5% Black 2% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Italian 3% Slovak 2%
• Foreign-born: 8% · China, South Korea, Canada
• Languages at home: 90% English-only · Chinese 4% Other Indo-European 2% Korean 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: ▼ -70.45%
• Current HPI: 174.2287
• Rent YoY: ▼ -1.35%
• 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

+44.5% since first listed

6 events — show timeline

• 2026-04-26 Pending — UNYREIS
• 2026-04-20 Listed $75,000 UNYREIS
• 2011-12-24 Listing Removed — UNYREIS
• 2011-06-24 Listed $64,900 UNYREIS
• 2004-10-22 Listing Removed — UNYREIS
• 2004-07-26 Listed $51,900 UNYREIS

Property tax history

+6.2%/yr

Latest (2025): $3,977 · +12.8% YoY. Source: county tax records.